UTA: Principles of
Marketing questions
and answers 2025
What is marketing?
the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have
value for customers, clients, partners, and society at large.
What are the marketing management philosophies/orientations?
Product, sales, market, and societal marketing orientations
Production orientation
focuses on the internal capabilities of the firm rather than on the
desires and needs of the marketplace
is successful when the consumer's wants and needs match what the
company can best produce
Sales orientation
the belief that people will buy more goods and services if
aggressive sales techniques are used and that high sales result in
high profits.
believes marketing means selling things and making money.
firm fails to understand the wants and needs of consumers in the
market.
market orientation
a philosophy that assumes that a sale does not depend on an
aggressive sales force but rather on a customer's decision to
purchase a product; it is synonymous with the marketing concept
"What do customers want?" and "How can we provide value to
customers?"
societal orientation
, satisfying customer needs and wants while enhancing individual and
societal well-being
takes the marketing concept one step further.
Businesses subscribing to this philosophy believe that a company
can satisfy customers' needs and wants to meet organizational
objectives and sustain individuals' and society's long-term best
interests.
What are the necessary conditions for an exchange to take place?
- There must be at least two parties
- Money is not the only medium. People may trade or barter other
items of value.
- Each party is capable of communication and delivery.
- Each party may accept or reject the exchange offer.
- Each party has a desire to deal with the other party.
know the concept of customer value
the relationship between benefits and the sacrifice necessary to
obtain those benefits
Ansoff's Strategic Opportunity Matrix
method for developing alternatives, which matches products with
markets. firms can explore these four options:
market penetration,
market development,
product development,
diversification
market penetration
a marketing strategy that tries to increase market share among
existing customers.
ex: jcpenny remodeling their old salons and counting on the new
salons to attract customers to their stores often.
market development
Marketing questions
and answers 2025
What is marketing?
the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have
value for customers, clients, partners, and society at large.
What are the marketing management philosophies/orientations?
Product, sales, market, and societal marketing orientations
Production orientation
focuses on the internal capabilities of the firm rather than on the
desires and needs of the marketplace
is successful when the consumer's wants and needs match what the
company can best produce
Sales orientation
the belief that people will buy more goods and services if
aggressive sales techniques are used and that high sales result in
high profits.
believes marketing means selling things and making money.
firm fails to understand the wants and needs of consumers in the
market.
market orientation
a philosophy that assumes that a sale does not depend on an
aggressive sales force but rather on a customer's decision to
purchase a product; it is synonymous with the marketing concept
"What do customers want?" and "How can we provide value to
customers?"
societal orientation
, satisfying customer needs and wants while enhancing individual and
societal well-being
takes the marketing concept one step further.
Businesses subscribing to this philosophy believe that a company
can satisfy customers' needs and wants to meet organizational
objectives and sustain individuals' and society's long-term best
interests.
What are the necessary conditions for an exchange to take place?
- There must be at least two parties
- Money is not the only medium. People may trade or barter other
items of value.
- Each party is capable of communication and delivery.
- Each party may accept or reject the exchange offer.
- Each party has a desire to deal with the other party.
know the concept of customer value
the relationship between benefits and the sacrifice necessary to
obtain those benefits
Ansoff's Strategic Opportunity Matrix
method for developing alternatives, which matches products with
markets. firms can explore these four options:
market penetration,
market development,
product development,
diversification
market penetration
a marketing strategy that tries to increase market share among
existing customers.
ex: jcpenny remodeling their old salons and counting on the new
salons to attract customers to their stores often.
market development
