| A | B |
|---|
| What are the four p's of marketing? | 1. Product - physical good, service or idea 2. Price - Value to be exchanged 3. Promotion - how communicated 4. Place - where available |
| What are the four different marketing management philosophies? | 1. Production Orientation 2. Sales Orientation 3. Market Orientation 4. Societal Marketing Orientation |
| What are the five conditions of exchange? | 1. At least two parties 2. Each party has something that might be of value to the other party 3. Each party is capable of communication and delivery 4. Each party is free to accept or reject the exchange offer 5. Each party believes it is appropriate or desirable to deal with the other party |
| What are five things that marketers interested in customer value do? | 1. Offer products that perform 2. Earn trust 3. Avoid unrealistic pricing 4. Give the buyer facts 5. Offer organization-wide commitment in service and after-sales support |
| What are the three basic ways a company can expand market share? | 1. Attracting new customers 2. Increasing business with current customers 3. Retaining current customers |
| What are the four parts of the pyramid of corporate social responsibility, from the bottom up? | 1. Economic 2. Legal 3. Ethical 4. Philanthropic |
| What are the 4 sets of norms considered for the Framework for Decision making | 1. Societal Norms 2. Company Norms 3. General Business Norms 4. Person Norms/Values |
| What are the basic norms of the AMA or American Marketing Association? | 1. Do no harm 2. Foster trust in the marketing system 3. Marketers should embrace, communicate, and practice the fundamental ethical values that will improve consumer confidence in the integrity of the marketing system |
| What are the 6 Ethical values of the AMA? | Honesty, responsibility, fairness, respect, openness, and citizenship |
| Three Levels of Ethical Development | 1. Preconventional Morality (Child-like and self-centered) 2. Conventional Morality (Society's expectations) 3. Postconventional Morality (Mature adult, how you see yourself in the long run) |
| What factors influence ethical decision making and judgements? | 1. Extent of ethical problems within the organization 2. top-management actions on ethics 3. Potential magnitude of the consequences 4. Social consensus 5. Probability of a harmful outcome 6. Length of time between decision and onset of consequences 7. Number of people to be affected |
| What are the four basic business values, aka customer rights? | 1. Consumer has the right to safety 2. The right to be informed 3. to choose 4. To be heard |
| What are the 3 parts of the consumer behavior model? | Marketing stimuli (4 P's) -> Buyer's thought process -> Buyer's Actions |
| What are the five steps in the consumer decision-making process? | 1. Need Recognition 2. Information Search 3. Evaluation of Alternatives 4. Purchase 5. Postpurchase Behavior |
| Goods and services in the three categories of consumer buying decisions are described by these 5 factors: | 1. Routine 2. Limited 3. Extensive |
| What five factors play into the three types of consumer buying decisions? | 1. Involvement 2. Time 3. Cost 4. Information Search 5. Number of alternatives |
| What are the five factors that determine the level of consumer involvement in a purchase? | 1. Previous Experience 2. Interest 3. Perceived Risk of negative consequences 4. situation 5. Social visibility |
| What four factors influence customer buying decisions? | 1. Cultural 2. Social 3. Individual 4. Psychological |
| What are the six cultural factors? | 1. values 2. Language 3. Myths 4. Customs 5. Rituals 6. Laws |
| What are the 5 levels of maslow's hierarchy of needs? | 1. Physiological needs 2. Safety Needs 3. Social Needs 4. Esteem Needs 5. Self-Actualization Needs |
| What are the four basic criteria that a segmentation scheme must meet? | 1.Substantiality 2. Identifiability and measurability 3. Accessibility 4. Responsiveness |
