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Question 1

name the 5 marketing management orientations

Answer 1

-market concept
-production concept
-product concept
-selling concept
-societal concept

Question 2

marketing concept

Answer 2

achieving organisational goals depends on meeting customers demands and needs in a way thats superior to competitors, focuses on profit through customer satisfaction

Question 3

selling concepts

Answer 3

inside out view, large scale high effort promotion and selling is needed, focus on profit through sale volume

Question 4

product concept

Answer 4

focus on the quality and performance of the product

Question 5

production concept

Answer 5

focus on the affordability and availability of the product

Question 6

societal

Answer 6

considers the customers needs, companies requirements and societies long-run interests.

Question 7

name the marketing process steps

Answer 7

creating value
1. understanding the target consumers wants and needs
2. designing a market strategy
3. constructing a model that delivers superior value than competitors
4. building a relationship with target consumers
capturing value through profit and sales

Question 8

customer perceived value

Answer 8

the customer’s evaluation of
the difference between all the benefits and all the costs of a market
offering relative to those of competing offers. Importantly, customers often do not judge values and costs “accurately” or “objectively.”
They act on perceived value.

Question 9

customer relationship management

Answer 9

The overall process of building and
maintaining profitable customer
relationships by delivering superior
customer value and satisfaction.

Question 10

customer relationship groups

Answer 10

degree of loyalty and potential profitability
butterflies, true friends, strangers, barnacles

Question 11

butterflies

Answer 11

low loyalty but high profitability

Question 12

true friends

Answer 12

high prof and loyalty

Question 13

strangers

Answer 13

low prof and loyalty

Question 14

Describe the major trends and forces that are changing the marketing landscape in this age of relationships.

Answer 14

-Digital, socials and internet IOT
-NPO marketing
-rapid globalization
-sustainable marketing

Question 15

microeconomic environment

Answer 15

-customers
-publics
-intermediaries
-suppliers
-competitors

Question 16

marketing intermediaries

Answer 16

Firms that help the company to promote,
sell, and distribute its goods to final
buyers.

Question 17

seven type of publics

Answer 17

-financial
-media
-citizen-action
-internal publics
-local
-general
-governmental

Question 18

financial publics

Answer 18

banks fund sources

Question 19

media

Answer 19

press, social media, television, newspapers

Question 20

citizen action

Answer 20

environmental groups and such

Question 21

governmental

Answer 21

lawyers, truth in advertising product safety

Question 22

general

Answer 22

worried about general public attitudes and perceived image of the company

Question 23

local

Answer 23

local member of the community

Question 24

macroenvironment

Answer 24

Demographic
Economic
Political
Ecological natural
Societal and cultural
Technological

Question 25

demographic

Answer 25

is the study of human populations in terms of size, density, location, age, gender, race, occupation, and other statistics. baby boomers GEN X

Question 26

economic

Answer 26

income levels and inflation and purchasing power AND spending patters

Question 27

political

Answer 27

Laws, government agencies, and pressure groups that influence and limit various organizations and individuals in a given society.

Question 28

ecological and natural

Answer 28

sustainability pollution awareness the physical environment and the natural resources that are needed as inputs by marketers or that are affected by marketing activities.

Question 29

societal and cultural

Answer 29

values and beliefs held by the public

Question 30

technological

Answer 30

adapting to advancements in tech to not fall behind competitors create market opportunities