MKT 3401 NEW MIDTERM EXAM QUESTIONS AND CORRECT ANSWERS!!, Exams of Advanced Education

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MKT 3401 NEW MIDTERM EXAM QUESTIONS AND CORRECT ANSWERS!! What are the four different types marketing management philosophies? - ANSWER Product Orientation, Sales Orientation, Marketing Orientation, Societal Marketing Orientation What is product orientation? - ANSWER A philosophy that focuses on the internal capabilities of the firm rather than on the desires and needs of the marketplace What does management ask during product orientation? - ANSWER What can we do best?, What can our engineers design?, What is easy to produce, given our equipment? What does management do during product orientation? - ANSWER Assesses its resources and asks questions regarding their strengths and capabilities How can product orientation survive? - ANSWER if competition is weak or demand exceeds supply. When does product orientation fail? - ANSWER When a company does not consider what the market needs or wants What is sales orientation? - ANSWER the belief that people will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits. What does management ask during sales orientation? - ANSWER How can we sell more aggressively? What do sales oriented firms believe marketing is? - ANSWER Marketing is selling things