GB 350 2 (CASCIO - OLE MISS)
COMPREHENSIVE STUDY GUIDE 2026
FULL QUESTIONS AND SOLUTIONS
GRADED A+
◍ What are the four marketing orientations discussed in the notes?.
Answer: 1. Production Orientation, 2. Sales Orientation, 3. Market
Orientation, 4. Societal Marketing Orientation.
◍ American Marketing Association; definition of marketing.
Answer: activity, set of institutions, and processes for creating,
communicating, delivering and exchanging offerings that have value for
customers, clients, partners and society at large
◍ Marketing.
Answer: -exchange value in a mutually beneficial manner-entails processes
that focus on delivering value and benefits to customers, not just selling
goods and services -communicating your company's value proposition, but it
must also be about determining what those value propositions will be
◍ What characterizes Production Orientation?.
Answer: An inward focus where the organization emphasizes what it does
best, typically in a high demand and low competition environment.
◍ What is Sales Orientation focused on?.
Answer: Short-term sales goals and heavy promotion to average customers,
often neglecting customer relationships.
◍ What does Market Orientation emphasize?.
Answer: Tailoring marketing strategies to customer needs and fostering
mutually beneficial value exchanges.
,◍ Example of marketing: Johnson & Johnson.
Answer: sued by state government for opioid epidemic - have to think of
society at large
◍ What is Marketing Myopia?.
Answer: The narrow view of marketing that focuses solely on selling
products and services rather than understanding customer needs.
◍ Marketing balances equally important goals through long-term, mutually.
Answer: rewarding relationships with customers-create value, meet
organizational objectives
◍ Conditions for Exchange.
Answer: -at least two parties-something of value-clear communication and
delivery of terms-freedom to accept or reject-desire to deal with other
party-each party is free to accept or reject the offer
◍ What is the Societal Marketing Orientation?.
Answer: A marketing approach that considers customer segments and
societal missions, exemplified by companies like TOM's shoes.
◍ What is the primary goal of marketing according to the notes?.
Answer: To create value and exchange value while meeting marketing
objectives.
◍ Example: A company had a policy in place that upgraded people to a
premium subscription after a free trial and it wasn't as visible as it should
have been...which condition for exchange was violated?.
Answer: clear communication and delivery of terms
◍ What is the significance of Customer Relationship Stages?.
Answer: They are crucial for long-term goals and optimizing customer
relationships post-purchase.
◍ What does Ansoff's Matrix help organizations to do?.
Answer: It assists in strategic planning by matching products with markets,
including options for market penetration, product development, market
, development, and diversification.
◍ philosophy (Merriam Webster).
Answer: basic beliefs, concepts and attitudes of an individual or group
◍ What are the three types of innovation in the Innovation Matrix?.
Answer: Core innovation, adjacent innovation, and transformational
innovation.
◍ Production Orientation.
Answer: -internal capabilities of the firm-EX: Victoria Secret, brand value is
declining, so they are rebranding: different body types, transgender models
-early stages of business -does not consider if the goods and services
produced by the firm meets the needs of the marketplace
◍ Sales Orientation.
Answer: -aggressive sales techniques and belief that high sales result in high
profits-getting this out and closing the deal -EX: Vivint, aggress sales
techniques-selling things and collecting money
◍ Market Orientation.
Answer: -satisfying customer wants and needs while meeting organizational
objectives -EX: Howard Johnson, hotel brand, struggling because outdated
image, renovating hotels ,interact with brand-paying attention to customers
-pay attention to what competitors are doing too -E-cigs industry,
responsible marketing
◍ What does the BCG Framework analyze?.
Answer: It analyzes market share versus growth potential, categorizing
products into Cash Cows, Stars, Question Marks, and Dogs.
◍ What is a Cash Cow in the BCG Framework?.
Answer: A product with high market share but low growth potential,
providing steady revenue.
◍ What defines a Star in the BCG Framework?.
Answer: A product with high market share and high growth potential,
COMPREHENSIVE STUDY GUIDE 2026
FULL QUESTIONS AND SOLUTIONS
GRADED A+
◍ What are the four marketing orientations discussed in the notes?.
Answer: 1. Production Orientation, 2. Sales Orientation, 3. Market
Orientation, 4. Societal Marketing Orientation.
◍ American Marketing Association; definition of marketing.
Answer: activity, set of institutions, and processes for creating,
communicating, delivering and exchanging offerings that have value for
customers, clients, partners and society at large
◍ Marketing.
Answer: -exchange value in a mutually beneficial manner-entails processes
that focus on delivering value and benefits to customers, not just selling
goods and services -communicating your company's value proposition, but it
must also be about determining what those value propositions will be
◍ What characterizes Production Orientation?.
Answer: An inward focus where the organization emphasizes what it does
best, typically in a high demand and low competition environment.
◍ What is Sales Orientation focused on?.
Answer: Short-term sales goals and heavy promotion to average customers,
often neglecting customer relationships.
◍ What does Market Orientation emphasize?.
Answer: Tailoring marketing strategies to customer needs and fostering
mutually beneficial value exchanges.
,◍ Example of marketing: Johnson & Johnson.
Answer: sued by state government for opioid epidemic - have to think of
society at large
◍ What is Marketing Myopia?.
Answer: The narrow view of marketing that focuses solely on selling
products and services rather than understanding customer needs.
◍ Marketing balances equally important goals through long-term, mutually.
Answer: rewarding relationships with customers-create value, meet
organizational objectives
◍ Conditions for Exchange.
Answer: -at least two parties-something of value-clear communication and
delivery of terms-freedom to accept or reject-desire to deal with other
party-each party is free to accept or reject the offer
◍ What is the Societal Marketing Orientation?.
Answer: A marketing approach that considers customer segments and
societal missions, exemplified by companies like TOM's shoes.
◍ What is the primary goal of marketing according to the notes?.
Answer: To create value and exchange value while meeting marketing
objectives.
◍ Example: A company had a policy in place that upgraded people to a
premium subscription after a free trial and it wasn't as visible as it should
have been...which condition for exchange was violated?.
Answer: clear communication and delivery of terms
◍ What is the significance of Customer Relationship Stages?.
Answer: They are crucial for long-term goals and optimizing customer
relationships post-purchase.
◍ What does Ansoff's Matrix help organizations to do?.
Answer: It assists in strategic planning by matching products with markets,
including options for market penetration, product development, market
, development, and diversification.
◍ philosophy (Merriam Webster).
Answer: basic beliefs, concepts and attitudes of an individual or group
◍ What are the three types of innovation in the Innovation Matrix?.
Answer: Core innovation, adjacent innovation, and transformational
innovation.
◍ Production Orientation.
Answer: -internal capabilities of the firm-EX: Victoria Secret, brand value is
declining, so they are rebranding: different body types, transgender models
-early stages of business -does not consider if the goods and services
produced by the firm meets the needs of the marketplace
◍ Sales Orientation.
Answer: -aggressive sales techniques and belief that high sales result in high
profits-getting this out and closing the deal -EX: Vivint, aggress sales
techniques-selling things and collecting money
◍ Market Orientation.
Answer: -satisfying customer wants and needs while meeting organizational
objectives -EX: Howard Johnson, hotel brand, struggling because outdated
image, renovating hotels ,interact with brand-paying attention to customers
-pay attention to what competitors are doing too -E-cigs industry,
responsible marketing
◍ What does the BCG Framework analyze?.
Answer: It analyzes market share versus growth potential, categorizing
products into Cash Cows, Stars, Question Marks, and Dogs.
◍ What is a Cash Cow in the BCG Framework?.
Answer: A product with high market share but low growth potential,
providing steady revenue.
◍ What defines a Star in the BCG Framework?.
Answer: A product with high market share and high growth potential,
