Review-for-the-final-exam...not test

Review-for-the-final-exam...not test - Review for the final...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
Review for the final exam: Chapter 1: 1. Conditions for exchange and when exchange does not take place? An exchange is when an agreement is made between at least 2 parties. Necessary Conditions For Exchange: at least 2 parties, something of value, communication and delivery, freedom to accept or reject, desire to deal with other party. Exchanges may not take place even if conditions ARE met, an agreement MUST be reached, MARKETING occurs even if exchange does not take place. 2. 2. Know the different types of orientations? How can you have marketing and societal orientations? You have a Societal Marketing Orientation which states that an organization exists not only to satisfy customer wants and needs and to meet organizational objectives but also to preserve or enhance individuals’ and society’s long term best interests. Know the differences between sales and marketing orientations? Sales Orientation: based on ideas that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits. Market Orientation: obtaining information about customers, competitors, and markets; examining the information from a total business perspective; determining how to deliver superior customer value; and implementing actions to provide value to customers. 3. 3. Difference between sales and marketing? Sales Orientation: based on ideas that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits. Market Orientation: obtaining information about customers, competitors, and markets; examining the information from a total business perspective; determining how to deliver superior customer value; and implementing actions to provide value to customers. 4. 4. Know what relationship marketing is? Relationship marketing is a strategy that entails forging long-term partnerships with customers. Build it by developing a clear understanding of who your customers are, what they value, what they want to buy, and how they prefer to react with you and be served by you. Companies then build relationships with customers by offering value and providing customer satisfaction. Chapter 2: 1. Know about strategic marketing? The managerial process of creating and maintaining a fit between the organization’s objectives and resources and the evolving market opportunities. The goal of this is long-run profitability and growth! EX: S.C. Johnson’s introduction of Shout Color Catchers, a laundry sheet for the washer that collects loose dyes and prevents clothes from bleeding colors onto other laundry items. Important because it can help protect and grow the firm’s resources
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
2. What are the various components of the marketing plan? A written document that acts as a guidebook of marketing activities for the marketing manager. It’s purpose is to design activities relating to marketing objectives and the changing marketing environment. Elements: define the business mission and objectives,
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 12/04/2011 for the course MKT 3401 taught by Professor Jaber during the Spring '08 term at LSU.

Page1 / 13

Review-for-the-final-exam...not test - Review for the final...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online