CHAPTER 2 MKTG 2500 EXAM QUESTIONS AND ANSWERS
WITH COMPLETE SOLUTIONS
organization
legal entity with people who share the same mission
offferings
(product, service, idea) create value for organization and consumer buy satisfying
needs and wants
business firm
privately owned to make profit
profit
expenses-total revenue
reward from risk
nonprofit organization
nongovernmental, does NOT profit
goals
operational efficientcies/ customer satisfaction
industry
organizations develop similar offerings
strategy
firm's long-term action to have unique service and achieve goals
corporate level
, top management directs overall strategy
strategic business unit
subdivision that markets offerings to a set audience
CMO
chief marketing officer
strategic business unit level
more specific strategic direction to show valued opportunities
functional level
specialists create value for firm
department
specialized functions at functional level (marketing, finance, etc.)
marketing department
listen to customers, create offerings, and make marketing program activities
cross-functional teams
small group from different department responsible for same goal or task
mission
statement of firm's function in society (identifies customer, markets, products, and
techs)
organizational culture
set of values, ideas, and attitudes, norms of behavior learned and shared amongst an
organization
busiiness
clear, broad industry/market sector of a firm's offering
WITH COMPLETE SOLUTIONS
organization
legal entity with people who share the same mission
offferings
(product, service, idea) create value for organization and consumer buy satisfying
needs and wants
business firm
privately owned to make profit
profit
expenses-total revenue
reward from risk
nonprofit organization
nongovernmental, does NOT profit
goals
operational efficientcies/ customer satisfaction
industry
organizations develop similar offerings
strategy
firm's long-term action to have unique service and achieve goals
corporate level
, top management directs overall strategy
strategic business unit
subdivision that markets offerings to a set audience
CMO
chief marketing officer
strategic business unit level
more specific strategic direction to show valued opportunities
functional level
specialists create value for firm
department
specialized functions at functional level (marketing, finance, etc.)
marketing department
listen to customers, create offerings, and make marketing program activities
cross-functional teams
small group from different department responsible for same goal or task
mission
statement of firm's function in society (identifies customer, markets, products, and
techs)
organizational culture
set of values, ideas, and attitudes, norms of behavior learned and shared amongst an
organization
busiiness
clear, broad industry/market sector of a firm's offering
