GB 350 FINAL EXAM CASCIO OLE
MISS QUESTIONS AND ANSWERS
what is societal marketing orientation? - ANSWER-focus on satisfying customer
wants and needs while addressing some ill in society; usually have to charge a lil
more money
ex - bamba socks donates socks with every purchase
What are the different stages of the customer relationship - ANSWER-A R E A
adoption - teaching the customer how to use the product after they make the sale
retention - delivering such a good experience that they come back when need arises
agian
expansion - offering products that the existing customer may need
advocacy - having the ability to let happy companies sing your praise
What are the four marketing philosophies? - ANSWER-PSMS
production; sales; market; societal
What is strategic planning? - ANSWER-the ongoing process of creating and
maintaining a fit between the organizations objectives and resources and the
evolving market opportunities; seeking to earn competitive advantage
what is a competitive advantage? - ANSWER-what makes your company unique and
superior to its competitors; seek to make sustainable
what is ansoff's matrix? draw it out - ANSWER-
what is the innovation matrix? draw it out - ANSWER-
what is the BCG framework? draw it out - ANSWER-
what is the marketing plan - ANSWER-a written document that acts as a guidebook
of marketing activities for the marketing manager
what is self-regulation? - ANSWER-business's voluntary efforts to preserve civil
society
ex - businesses pulling operations from russia without being asked
, what is ESG marketing? - ANSWER-integrating Environment, Social, and
Governance values into the organization and marketing strategy
what is conscious consumerism? - ANSWER-contributing to socially responsible
causes through purchases from soically responisible organizations
what is a B-corp? - ANSWER-Benifit corporation; for-profit entities seeking a mission
to balance economic goals w environmental/social goals
What is a code of ethics? - ANSWER-a guideline to help marketing managers and
other employees make better decisions
what is company culture - ANSWER-the invisible set of rules which guides behavior
inside and company and therefore it's foundation which business results rest on
What is a cost competitive advantage? - ANSWER-being the low-cost competitor in
an industry while maintaining satisfactory profit margins
what is product/service differentation competitive advantage? - ANSWER-value
offering superior to what competitors provide
What is a niche competitive advantage? - ANSWER-the advantage achieved when a
firm seeks to target and effectively serve a small segment of the market
what is balance of trade - ANSWER-import - exports
what is gdp - ANSWER-gross domestic product - the total value of all
final goods and services produced within a country in a year
what is real gdp - ANSWER-GDP adjusted for inflation
what are the five methods for entering the global market place - ANSWER-exporting
liscensing
contract manufacturing
joint venture
direct investment
what is exporting - ANSWER-produce product domestically and sell internationally
what is licensing? - ANSWER-gives international entities the right to sell a product
under the brands business model
what is contract manufacturing - ANSWER-pays or contracts out the production of its
products to organizations in other countires
what is joint venture - ANSWER-partnerships between an entity in one country and
an entity in another
MISS QUESTIONS AND ANSWERS
what is societal marketing orientation? - ANSWER-focus on satisfying customer
wants and needs while addressing some ill in society; usually have to charge a lil
more money
ex - bamba socks donates socks with every purchase
What are the different stages of the customer relationship - ANSWER-A R E A
adoption - teaching the customer how to use the product after they make the sale
retention - delivering such a good experience that they come back when need arises
agian
expansion - offering products that the existing customer may need
advocacy - having the ability to let happy companies sing your praise
What are the four marketing philosophies? - ANSWER-PSMS
production; sales; market; societal
What is strategic planning? - ANSWER-the ongoing process of creating and
maintaining a fit between the organizations objectives and resources and the
evolving market opportunities; seeking to earn competitive advantage
what is a competitive advantage? - ANSWER-what makes your company unique and
superior to its competitors; seek to make sustainable
what is ansoff's matrix? draw it out - ANSWER-
what is the innovation matrix? draw it out - ANSWER-
what is the BCG framework? draw it out - ANSWER-
what is the marketing plan - ANSWER-a written document that acts as a guidebook
of marketing activities for the marketing manager
what is self-regulation? - ANSWER-business's voluntary efforts to preserve civil
society
ex - businesses pulling operations from russia without being asked
, what is ESG marketing? - ANSWER-integrating Environment, Social, and
Governance values into the organization and marketing strategy
what is conscious consumerism? - ANSWER-contributing to socially responsible
causes through purchases from soically responisible organizations
what is a B-corp? - ANSWER-Benifit corporation; for-profit entities seeking a mission
to balance economic goals w environmental/social goals
What is a code of ethics? - ANSWER-a guideline to help marketing managers and
other employees make better decisions
what is company culture - ANSWER-the invisible set of rules which guides behavior
inside and company and therefore it's foundation which business results rest on
What is a cost competitive advantage? - ANSWER-being the low-cost competitor in
an industry while maintaining satisfactory profit margins
what is product/service differentation competitive advantage? - ANSWER-value
offering superior to what competitors provide
What is a niche competitive advantage? - ANSWER-the advantage achieved when a
firm seeks to target and effectively serve a small segment of the market
what is balance of trade - ANSWER-import - exports
what is gdp - ANSWER-gross domestic product - the total value of all
final goods and services produced within a country in a year
what is real gdp - ANSWER-GDP adjusted for inflation
what are the five methods for entering the global market place - ANSWER-exporting
liscensing
contract manufacturing
joint venture
direct investment
what is exporting - ANSWER-produce product domestically and sell internationally
what is licensing? - ANSWER-gives international entities the right to sell a product
under the brands business model
what is contract manufacturing - ANSWER-pays or contracts out the production of its
products to organizations in other countires
what is joint venture - ANSWER-partnerships between an entity in one country and
an entity in another
