Ch. 1Foundation

Question 1

Features of Exchange

Answer 1

-Transactional
- Value added
-Collaborative(B2B)

Question 2

who are called upstream who are called downstream

Answer 2

Suppliers and Distributors

Question 3

Meaning of need, want and demand

Answer 3

Need is a state of felt deprivation
Want is the solution to satisfy a need
Demand is wants backed up by buying power.

Question 4

Marketing Concept

Answer 4

knowing the needs and wants of customers and delivering value better than competitors.

Question 5

What’s the inward focus of business orientation

Answer 5

Production orientation; focus on mass prod.
Sales orientation; competition

Question 6

What about the outward focus

Answer 6

Marketing oriented; process of planning
Market oriented; consumer needs and wants

Question 7

Marketing

Answer 7

Managing the exchange relationship. Exchange of relationships to give value to customers.

Question 8

Who is a customer

Answer 8

can be a buyer and consumer

Question 9

Client

Answer 9

a professional relationships that can be a customer.

Question 10

which orientation is subject to the long term benefits of society?

Answer 10

Societal Orientation under market orientation

Question 11

Exchange Space

Answer 11

Outbound Comm. (Unique positioning)c
Customer Value(Offering portfolio)c
Organizational Vale(Sustainability)coy
Inbound Comm. (Benefits sought)coy