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MKT Exam 1 Studyguide

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Department
Marketing
Course
MKT 3401
Professor
All Professors
Semester
Spring

Description
Marketing3401StudyGuideExam1Chapter1OverviewofMKTFiveConditionsofMKT1Theremustbeatleast2parties2Eachpartyhassomethingthatmightbeofvaluetotheotherparty3Eachpartyiscapableofcommunicationanddelivery4Eachpartyisfreetoacceptorrejecttheexchangeoffer5EachpartybelievesitsappropriateordesirabletodealwiththeotherpartyExchangepeoplegivingupsomethinginordertoreceivesomethingtheywouldratherhaveExchangedoesnthavetohavemoneybartertradeExchangewillnotnecessarilytakeplaceevenifconditionsexistAllconditionsarenecessaryforexchangetotakeplaceMarketingManagementPhilosophies1ProductionOrientationoInternalcapabilitiesofthefirmratherthanonthedesiresandneedsofthemarketplaceoDoesnotconsiderwhetherthegoodsandservicesthatthefirmproducesmeettheneedsofthemarketplace2SalesorientationoBasedontheideathatpeoplewillbuymoregoodsandservicesifaggressivesalestechniquesareusedandthathighsalesresultinhighprofitsoLackofunderstandingoftheneedsandwantsofthemarketplace3MarketorientationoMarketingorientedAssumesasaledoesnotdependonanaggressivesalesforcebutratheronacustomersdecisiontopurchaseaproductoMarketingconceptsocialandeconomicjustificationforanorganizationsexistenceisthesatisfactionofcustomerwantsandneedswhilemeetingorganizationalobjectivesoFocusingoncustomerwantsandneedssothattheorganizationcandistinguishproductsfromcompetitorsoIntegratingalltheorganizationsactivitiesincludingproductiontosatisfycustomerwantsoAchievinglongtermgoalsfortheorganizationbysatisfyingthecustomerwantsandneedslegallyandresponsibly4Societalmarketingorientation
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