575midterm Wen Zhao
Zhao, Wen
Instructor Joseph A. Huggins
Marketing Theory BUS-575-4
01/20/2014
Midterm Exam
Winter 2013 / 2014
1. Describe the various stages in the evolution of company orientations toward the marketplace. Why is it important to have a Holistic Marketing Concept Orientation? Ch. 1.
According to the textbook, there are five stages in the evolution of company orientations toward the marketplace. First one is the production concept. It is one of the oldest concepts. It argues that consumers would like low price and widely available products. In China, many people still would like these low price and widely available products now. Second one is the product concept. It believes that consumers like the product with the highest quality, performance, or innovative features. Consumers like the highest quality products, buy they also may consider about the price. Consumers may have some questions like, “Is it really worth to buy?” or “Can I really afford it?” Therefore, sometimes the highest quality products may not be the best selling product. Third one is the selling concept. It assumes that “consumers and businesses, if left alone, won’t buy enough of the organization’s products”. For example, a young people may not think to buy a life insurance. Sales stuff should be persuasive when they are selling their products especially unsought goods. This concept focuses on the seller’s need, so it is less favorable in a competitive environment. Fourth one is the marketing concept. In this concept, companies are more likely to focus on consumers’ need, so they may try their best to satisfy the needs of the consumers. Therefore, this concept is more favorable in a competitive environment. The last one and newest one is the holistic marketing concept. “The holistic marketing concept is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies.” It looks at the complex activities and
Instructor Joseph A. Huggins
Marketing Theory BUS-575-4
01/20/2014
Midterm Exam
Winter 2013 / 2014
1. Describe the various stages in the evolution of company orientations toward the marketplace. Why is it important to have a Holistic Marketing Concept Orientation? Ch. 1.
According to the textbook, there are five stages in the evolution of company orientations toward the marketplace. First one is the production concept. It is one of the oldest concepts. It argues that consumers would like low price and widely available products. In China, many people still would like these low price and widely available products now. Second one is the product concept. It believes that consumers like the product with the highest quality, performance, or innovative features. Consumers like the highest quality products, buy they also may consider about the price. Consumers may have some questions like, “Is it really worth to buy?” or “Can I really afford it?” Therefore, sometimes the highest quality products may not be the best selling product. Third one is the selling concept. It assumes that “consumers and businesses, if left alone, won’t buy enough of the organization’s products”. For example, a young people may not think to buy a life insurance. Sales stuff should be persuasive when they are selling their products especially unsought goods. This concept focuses on the seller’s need, so it is less favorable in a competitive environment. Fourth one is the marketing concept. In this concept, companies are more likely to focus on consumers’ need, so they may try their best to satisfy the needs of the consumers. Therefore, this concept is more favorable in a competitive environment. The last one and newest one is the holistic marketing concept. “The holistic marketing concept is based on the development, design, and implementation of marketing programs, processes, and activities that recognize their breadth and interdependencies.” It looks at the complex activities and