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GB 350 FINAL EXAM-- OLE MISS CASICO FALL Exam Questions With Verified Answers 2025/2026 Marketing Marketing balance Tradeblock the activity, set of institu- tions, and processes for creating, communicating, delivering, and exchang- ing offerings that have val- ue for customers, clients, partners, and society at large balances 2 equally impor- tant goals through long term, mutually reward- ing relationships with cus- tomers: between exchange value and meet organizational objec- tives example of marketing: - sneaker-trading app - they launched in 2020 balancing the marketing goals what does good marketing ° entails processes that fo- cus on delivering value and benefits to customers, not just selling products and services marketing myopia Marketing Myopia Exam- ple Bracketing so the environment is understanding "exchange" from a marketing stand- point the perspective of market- ing as selling products and services; Railroad companies saw themselves as in the railroad business not the transportation busi- ness and were blindsided by other competitors e commerce customers or- der different sizes /colors of fashion items with the in- tention of returning at least one alternative stakeholder exchange- people giving up something in order to receive something else they would rather have marketing management philosophies production SALES 4 Production, Sales, Market, Societal marketing internal capabilities of the firm example: bed bath and be- yond faces uncertain fu- ture after former CEO pushed rapid launch of pri- vate labels LIKE TARGET ( financial issues) with sell- ing NOT GIVING THEIR CUS- TOMERS TO COME TO THE STORE aggressive sales tech- niques and belief that high sales result in high profits example: unkept promises and mis- leading information make these the worst TIME- £104 MARKET societal marketing SHARE COMPANIES, ac- cording to this article EXAMPLE; WELLSFARGO satisfying customer wants and needs while meeting organizational objectives EXAMPLE: BAMA BEER LINES- educates on how to clean beer lines to satis- fy customers satisfying customer wants and need while enhancing individual and societal well - being example: better place brands-- do- nates 20% of all coffee/ ap- parel sales to namesake breed rescues a philosophy that focuses on the internal capabilities £104 market orientation marketing 4 points adoption retention tures) so that the organi- zation can distinguish its product(s) from competi- tors offerings adoption, retention, expan- sion, advocacy "onboarding" new cus- tomers by educating them about how to use the prod- uct/service; offering an easy return process for dis- satisfied customers example: bought a 2021 Lincoln used to having a 2007 car-- had to figure out how to use seat warmers delivering such a great experience that the cus- tomer comes back when the need arises again; making it easy to come back example Kothari :diaper expansion advocacy market orientation company gives a certain percentage off - reach out to customers offering other prod- ucts/services that existing customers might need example: transition from regular diaper to pull up di- aper having a mechanism in place that allows happy customers to sing your praises example : product review-- earn points toward pur- chases - obtaining information about customers(micro) , competitors(micro) , and markets (macro what really matters? two obstacles may face: - meeting customer perfor- mance expectation example: eco friendly-- blue land's cleaners -justifying priemium prices - kothara diaper example - buying oil from one place may be more expensive because of how healthy it is to the world sales and market orienta- tion can be compared in terms of five characteris- tics the organization focus 1. the organization's focus 2. the firm's business 3. those to whom the prod- uct is directed 4. the firm's primary focus 5. the tools used to achieve the organization goals market orientation- focus- ing on building long term relationships through - customer - oriented per- sonel -effective training pro- grams - empowered employees with the authority to make decisions and solve prob- lems( phone call example) - teamwork sales orientation: focus on short term transactions form immediate sales vol- ume Customer Relationship Management (CRM) the firm's business a company-wide business strategy designed to opti- mize profitability, revenue, and customer satisfaction by focusing on highly de- fined and precise cus- tomer groups ences so that product of- ferings are more likely to remain revelevant -Organizing the compa- ny around customer seg- ments -Establishing and tracking customer interactions with the company. CRM is accomplished by -Fostering customer-satis- fying behaviors -Linking all processes of the company from its cus- tomers through its suppli- ers -A sales-oriented organi- zation targets its products at "everybody" or "the av- erage customer." example; Walmart those to whom the product is directed -A market-oriented orga- the firm's primary goal the primary tools used nization aims at specific groups of people. -Customer relationship management A sales-oriented organi- zation seeks to achieve profitability through sales volume and tries to con- vince potential customers to buy, even if the sell- er knows that the cus- tomer and product are mis- matched. the ultimate goal of most market-oriented organiza- tions is to be "profitable" - creating customer value - providing customer satis- faction - building long-term rela- tions with customers sales oriented-promotion market-oriented- an ef- STRATEGIC BUSINESS UNITS WHEN PROPERLY CRE- ATED, AN SBU HAS THE FOLLOWING CHAR- ACTERISTICS STRATEGIC BUSINESS EXAMPLE Strategic alternative: An- soff Matrix AND WHO WE SERVE - TRYING TO BE TECH AND BEAUTY AND NOT JUST BEAUTY a subgroup of a single business or collection of related businesses within the larger organization - a distinct mission and a specific target market - control over its resources - its own competitor - Asingle business or a col- lection of related business example: cocoa cola spain/ cocoa cola US PARSONS present market and new market goal - increase wallet share of existing offerings among existing customers present market- market penetration present market- product development new market- market devel- opement new market- diversifica- tion example: Uber one-- give discounts to customers goal - develop new offer- ings to create values for ex- isting customers example - instacart :big and bulky: expand with oth- er businesses -- go be- yond just groceries goal : attract new cus- tomers to existing offer- ings example: lens crafters the summit-- opening a new one up in a new location goal- develop new offer- ings to create value for new markets example: Lowe's and pet- co developing a new service transformational innova- tion strategic alternatives: BCG matrix Stars prevent wrinkles (at first)--now treats mi- graine-- can paralyze teeth to stop grinding on teeth -all bay example: season- ing to hot sauce these decisions result in brand-new markets, prod- ucts, and often new busi- nesses example: WOW CUBE: in- tegrated technology gam- ing device aimed at gamers of all ages example: Apple products stars cash cows problem children dog is a fast-growing market leader. example: the cyber secu- rity training market is cur- rently worth around $1b and experts expect that number to reach around $10b annually by 2027 example:cengage Cash Cows (BCG Matrix) -(lower left quadrant) are in low-growth markets but are high market share products -these products have al- ready received heavy in- vestments to develop their high market share, they have excess resources that can be spun off to those products that need it. EX: the firm may decid- ed to use the excess re- sources generated by the cash cow Brand to fund 
