MKTG 2500 (100% Errorless)

what is marketing? correct answers definition off slides: a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with another book definition: process by which companies create value for customers and build...

C correct answers Marketing expertise is gained A. most often by mentoring from experienced marketing professionals. B. primarily by large firms with many years of experience; it is practically impossible for entrepreneurial startup companies to achieve it. C. by even the average person, who has ...

Lovely Skin is establishing a pricing strategy for a new moisturizer. The total cost to produce each unit is $3.50. The company has decided to add a $1.50 markup, so the unit price to distributors will be $5. Lovely Skin is using a ________ approach to price the new moisturizer. correct answers cost...

__________ is the total combined values of all of the company's customers. correct answers customer equity The production concept is correct answers the idea that consumers will favor products that are available and highly affordable; therefore, the organization should focus on improving product...

5 Developments in the Changing Marketing Landscape correct answers 1. The Digital Age 2. The Changing Economic Environment 3. The Growth for Non-For Profit Marketing 4. Rapid Globalization 5. Sustainable Marketing Targeting correct answers Process of evaluating each markets attractiveness and...

1) Which of the following is the right order of the steps that companies generally follow in designing a customer-driven marketing strategy? A) market segmentation, differentiation, positioning, and market targeting B) positioning, market segmentation, mass marketing, and market targeting C) mar...

Which statement(s) is/are true? The first basic concept of marketing is that of human wants The second basic concept of marketing is that of human needs. A human need is part of the human makeup. A human need is invented by marketers. Human wants are how people communicate their needs. corr...

Marketing channel (distribution channel) correct answers a set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user Key functions of intermediaries correct answers Information- gathering and distributing market resea...

price correct answers The amount of money charged for a product or service - The sum of all the values that consumers exchange for the benefits of having or using the product or service. considerations in setting price correct answers product costs (price floor: no profits below this price) comp...

The role of a company's salespeople in creating value for customers and building customers relationships correct answers An individual representing a company to customers by performing one or more of the following activities: prospecting, communicating, selling, service, information gathering, and ...

Marketing correct answers Process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return Steps in the Marketing Process correct answers 1. Understand the marketplace and its customers needs and wants 2. Design a cu...

Market Segmentation correct answers Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors and who might require separate marketing strategies or mixes. Market Targeting correct answers Evaluating each market segment's attractiveness and selectin...

Relationship marketing assumes that many consumers and business customers prefer to switch continually among different organizations rather than continue relationship w just one provider. correct answers False Which of the following statements is true of a good sales orientation? correct answers ...

The benefits of long term customer loyalty include: correct answers Ch1 Reduced marketing costs; Decreased price sensitivity of loyal customers; More frequent purchases; Broader variety of items purchased; The four marketing management functions related to the Marketing Process include: corre...