Midterm 1 MKTG 300 CSULB - Nguyen
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Chapter 1 - answer
Types of Marketing Management Orientations - answer Product,
Sales, Market, and Societal Marketing.
Product Orientation - answer focuses on what they can make best,
instead of what the customers want. (what can we do)
Sales Orientation - answer focuses on what the company can sell.
Market Orientation - answer focuses on not only internal
factors(production, sales) but on external factors (what the
customer is looking for).
societal marketing orientation - answer keep society interest at
heart. Benefit society as a whole.
Difference between relationship and transactional marketing -
answer Relationship Marketing: focuses on keeping and improving
relationships with current customers.
Transactional Marketing: focuses on a single individual sale rather
than building a relationship with customers.
,What factors drive customer value and satisfaction? - answer
Whether a product meets the needs and expectations of the
customer.
Actual performance > Expectation = happy
Actual performance = Expectation = satisfied
Actual performance < Expectation = dissatisfied
What are the factors determining the success of
relationship[ marketing? Explain. - answer A)Customer Oriented
Personnel: Employee's attitudes and actions must be customer
oriented.
B)The Role Of Training
C)Empowerment: delegation of authority to solve customer
problems on the spot
D)Teamwork: collaborative efforts of people to accomplish
common objective.
Chapter 2 - answer
What is a SBU (strategic business unit)? - answer Strategic
Business Unit:
An independent enterprise unit, under a company, that has its
own revenue.
Ansoff Matrix - answer "A Matrix looking at growth potential of a
firms products. It classifies strategies into market penetration,
, new product development, market development and
diversification and measures the degree of risk associated with
each strategy."
penetration - answer current product, current market
New Product Development - answer New Product, current market
New Market Development - answer Current product, New Market
Diversification - answer new product, new market
Boston Consulting Group (BCG) Matrix - answer A portfolio
planning approach that examines strategic business units based
on their relative market shares and growth rates. Businesses are
classified as stars, cash cows, question marks (problem children),
or dogs.
The Star - answer Large market share, high market growth
Cash Cow - answer Large market share, slow market growth
Mature SBU
Generates more revenue than it needs to expense
Question Mark - answer Small market share, high market growth
Uncertainty (2 potentials): Become star or dog
with expert solutions alrady graded A+ |
Download to Pass
Chapter 1 - answer
Types of Marketing Management Orientations - answer Product,
Sales, Market, and Societal Marketing.
Product Orientation - answer focuses on what they can make best,
instead of what the customers want. (what can we do)
Sales Orientation - answer focuses on what the company can sell.
Market Orientation - answer focuses on not only internal
factors(production, sales) but on external factors (what the
customer is looking for).
societal marketing orientation - answer keep society interest at
heart. Benefit society as a whole.
Difference between relationship and transactional marketing -
answer Relationship Marketing: focuses on keeping and improving
relationships with current customers.
Transactional Marketing: focuses on a single individual sale rather
than building a relationship with customers.
,What factors drive customer value and satisfaction? - answer
Whether a product meets the needs and expectations of the
customer.
Actual performance > Expectation = happy
Actual performance = Expectation = satisfied
Actual performance < Expectation = dissatisfied
What are the factors determining the success of
relationship[ marketing? Explain. - answer A)Customer Oriented
Personnel: Employee's attitudes and actions must be customer
oriented.
B)The Role Of Training
C)Empowerment: delegation of authority to solve customer
problems on the spot
D)Teamwork: collaborative efforts of people to accomplish
common objective.
Chapter 2 - answer
What is a SBU (strategic business unit)? - answer Strategic
Business Unit:
An independent enterprise unit, under a company, that has its
own revenue.
Ansoff Matrix - answer "A Matrix looking at growth potential of a
firms products. It classifies strategies into market penetration,
, new product development, market development and
diversification and measures the degree of risk associated with
each strategy."
penetration - answer current product, current market
New Product Development - answer New Product, current market
New Market Development - answer Current product, New Market
Diversification - answer new product, new market
Boston Consulting Group (BCG) Matrix - answer A portfolio
planning approach that examines strategic business units based
on their relative market shares and growth rates. Businesses are
classified as stars, cash cows, question marks (problem children),
or dogs.
The Star - answer Large market share, high market growth
Cash Cow - answer Large market share, slow market growth
Mature SBU
Generates more revenue than it needs to expense
Question Mark - answer Small market share, high market growth
Uncertainty (2 potentials): Become star or dog
