AGEC 3010 FINAL EXAM QUESTIONS
WITH COMPLETE ANSWERS {
GUARANTEED A+}
What is agribusiness - ✔✔agriculturally related business- All agents of the food
and fiber value chain and those institutions that influence it are part of the
agribusiness system
Five marketing philosophies - ✔✔1. Production Concept
2. Product Concept
3. Selling Concept
4. Marketing Concept
5. Societal Marketing Concept
, Production Concept - ✔✔the idea that consumers will favor products that are
available and highly affordable; therefore, the organization should focus on
improving production and distribution efficiency
product concept - ✔✔the idea that consumers will favor products that offer the
most quality, performance, and features; therefore, the organization should devote
its energy to making continuous product improvements
Selling Concept - ✔✔the idea that consumers will not buy enough of the firm's
products unless the firm undertakes a large-scale selling and promotion effort
Marketing Concept - ✔✔the idea that the social and economic justification for an
organization's existence is the satisfaction of customer wants and needs while
meeting organizational objectives
societal marketing concept - ✔✔the idea that a company's marketing decisions
should consider consumers' wants, the company's requirements, consumers' long-
run interests, and society's long-run interests
Strategic Planning Process - ✔✔is the process of developing and maintaining a
strategic fit between the organization's goals and capabilities, and its changing
marketing opportunities.
WITH COMPLETE ANSWERS {
GUARANTEED A+}
What is agribusiness - ✔✔agriculturally related business- All agents of the food
and fiber value chain and those institutions that influence it are part of the
agribusiness system
Five marketing philosophies - ✔✔1. Production Concept
2. Product Concept
3. Selling Concept
4. Marketing Concept
5. Societal Marketing Concept
, Production Concept - ✔✔the idea that consumers will favor products that are
available and highly affordable; therefore, the organization should focus on
improving production and distribution efficiency
product concept - ✔✔the idea that consumers will favor products that offer the
most quality, performance, and features; therefore, the organization should devote
its energy to making continuous product improvements
Selling Concept - ✔✔the idea that consumers will not buy enough of the firm's
products unless the firm undertakes a large-scale selling and promotion effort
Marketing Concept - ✔✔the idea that the social and economic justification for an
organization's existence is the satisfaction of customer wants and needs while
meeting organizational objectives
societal marketing concept - ✔✔the idea that a company's marketing decisions
should consider consumers' wants, the company's requirements, consumers' long-
run interests, and society's long-run interests
Strategic Planning Process - ✔✔is the process of developing and maintaining a
strategic fit between the organization's goals and capabilities, and its changing
marketing opportunities.
