MKTG 3340 With Complete Solutions(bundled)2023/2024

MKTG 3340 Test 1What is marketing? - correct answer marketing is a process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return five step marketing process model: step one - correct answer understand the marketpla...

MKTG 3340 TEST 1production concept high production efficiency & wide distribution coverage low consumer cost ex: Henry Ford - any car as long as it is black & under $500 product concept focus on producing superior products with little or no consumer input ex: segway Brainpower Read...

MKTG 3340 quiz 4Sourcing Evaluating and hiring suppliers Procurement Purchasing goods and services from suppliers Brainpower Read More Outsourcing Hiring an organization to do a task previously performed by a firm Offshoring Outsourcing work to companies located overseas ...

MKTG 3340 Quiz 4 (9, 11, 12)sourcing - correct answer evaluating and hiring suppliers procurement - correct answer purchasing goods and services from suppliers safety stock - correct answer Backup inventory that serves as a buffer in case the demand for a product surges or the supply of it dro...

MKTG 3340 Quiz 3day running of a business Procurement - correct answer the buying and reselling of goods that have already been produced Offshoring - correct answer Moving operations from the country where a company is headquartered to a country where pay rates are lower but the necessary skil...

MKTG 3340 Quiz 3 Integrated Marketing Communications (IMC) Concept of designing marketing communications programs that deliver a consistent message to a target audience, using different types of media. Mobile Marketing Marketing media that is available in different places such as cell phones...

MKTG 3340- Quiz 2Which stage of the purchase decision process is the Farmer's Dog brand trying to influence, with their commercial about fresh dog food? - correct answer Purchase decision What are consumer touchpoints? - correct answer Marketer's product, service, or brand contacts with a consu...

MKTG 3340 Quiz #3Nonstore retailing - correct answer any method used to complete an exchange with a product end user that does not require a customer visit to a store; i.e. automatic vending, TV home shopping, direct mail & catalogs, telemarketing, online retailing, and direct selling automatic v...

Mktg 3340 q3Multichannel marketing - correct answer involves the blending of different communication and delivery channels that are mutually reinforcing in attracting, retaining, and building relationships with consumers who shop and buy in traditional intermediaries and online. integrated market...

MKTG 3340 Midtermmarketing definition - correct answer the process by which companies engage customers, build strong customer relationships, and create customer value in order to capture value from customers in return. steps of the marketing process - correct answer 1. Understand the marketplace ...

MKTG 3340 Midterm Which of the following is Marketing Research used for? C. To generate, refine, and evaluate marketing actions F. A, B and C A. To create the P & L for a product B. To identify and define marketing problems D. To monitor marketing performance E. B, C and D E. B, ...

mktg 3340 midterm #2 How does idea generation play a role in the new product development process? Idea generation The systematic search for new product ideas Use of various techniques for new product ideas Internal sources External sources Customers, competitors, distributors H...

MKTG 3340 FinalWhen a feature satisfies a need or want, then there is a _____. reduction of hassle hike in price level of high quality benefit tangible value - correct answer benefit A product-dominant approach to marketing is based on the belief that: sales personnel and marketing can ...

MKTG 3340 Finalmarketing the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large primary goals of marketing 1.) discover the needs and wants of customers 2.) sati...

MKTG 3340 Final Exam Possession Utility - correct answer e.g.) allowing several payment and credit options Depth of Product Line - correct answer the store carries a large assortment of each item e.g.) a shoe store that offers running shoes, dress shoes, and children's shoes Limited Servi...

MKTG 3340 Final Exam Role of MKTG generate profitable revenue When a marketer can describe something/write it down it is called a Product Concept Brainpower Read More After buying an item we experience what? Cognitive dissonance/buyer's remorse cognitive dissonance buyer dis...

MKTG 3340 Final - SMU What are Some Errors in Communication? - correct answer sources may not adequately transform the abstract idea into an effective set of symbols a properly encoded message may be first sent through the wrong channel and never make it to the intended receiver the receiver ...

MKTG 3340 EXAM2ch9 market segmentation, targeting, and positioning - correct answer ... Market Segmentation Links Market Needs to an Organization's Marketing Program - correct answer identify market needs link needs to actions execute marketing program identify market needs - correct answer...

MKTG 3340 Exam IIGeographic segmentation - correct answer segmentation based on where prospective customers live or work (country, region, city, climate, population density); Aberdeen group analysis 88%, 1st Demographic segmentation - correct answer segmentation based on some objective physical (...

MKTG 3340 Exam 3How do intermediaries create value? - correct answer Transactional Function: buying/selling/risk taking Logistical Function: storing/assorting (mix of products)/sorting(lots of a single product)/bulk breaking(one large item broken down)/transporting Facilitating: financing/grading/...

MKTG 3340 Exam 2 what does market segmentation do? - correct answer links market needs to an organization's marketing program what are the steps of market segmentation? - correct answer identify market needs > link needs to actions > execute marketing program what are the three foundat...

MKTG 3340 Exam 2 Market Segmentation - correct answer aggregate consumers into groups (segments) that have similar needs and will react similarly to a marketing action Segmentation Strategies - correct answer - 1 product w/ multiple target segments (Johnson shampoo for dogs or babies, tums for c...

MkTG 3340 Exam 2 second dimension - correct answer Companies can't just keep a leadership position based on one aspect of customer values, they need to appeal to TWO customer values. Ex: Walmart- low price, frictionless retail proposition - correct answer Customers want to buy something they va...

MKTG 3340 Exam 2 2023 What is a marketing channel? A set of interdependent organizations that eases the transfer of ownership as products move from producer to business user or consumer Who are channel members/partners? Organizations or individuals that participate in the marketing channel. ...

MKTG 3340 EXAM 1 what is marketing? - correct answer the management process involved in identifying, anticipating, and satisfying customer wants profitably what are the 2 goals of marketing? - correct answer 1. discover (assess) the needs and wants of prospective customers 2. satisfy these need...

MKTG 3340 Exam 1: Chapter 1elements necessary in order for marketing to occur - correct answer two or more parties (individuals or organizations) with unsatisfied needs, a desire and ability on their part to have their needs satisfied, a way for the parties to communicate, and something to exchange ...

MKTG 3340 Exam 1 (1,2,3,5,8) Marketing - correct answer Delivery of customer satisfaction at a profit Goals of marketing - correct answer Attract new customers with value and keep current customers with satisfaction Requirements for Marketing - correct answer Two or more parties with unsatisf...

MKTG 3340 Exam #2generate profitable Revenue - correct answer The purpose of marketing is to... B - correct answer Which statement is most likely true about idea generation in the new product development process? A. A company can either develop ideas through internal or external sources but not ...

MKTG 3340 Exam #1Generate profitable revenue - correct answer The primary role of marketing is to: understand the marketplace and customer needs and wants - correct answer According to the five-step model of the marketing process, a company should _____ before designing a customer-driven strategy...

MKTG 3340 Chapter 12Email Marketing - correct answer •Email marketing: a highly cost-effective type of direct marketing. •Marketers strive to nurture long-term, mutually beneficial relationships with their customers. •Routine emails can help a company establish and maintain relationships wit...

MKTG 3340 Chapter 11IMC (Integrated Marketing Communications) vs Omnichannel Marketing - correct answer IMC: The concept of designing marketing communications programs that deliver a consistent message to a target audience, using different types of media. (Make sure message is consistent across ...

MKTG 3340 Chapter 8 What is a marketing channel? What is a channel strategy? - correct answer It is a group of organizations involved in selling and promoting goods from the time they are produced until they reach the end users. (sometimes called distribution channels). A channel strategy is a p...

Mktg 3340-chapter 8 vocabmarketing channel - correct answer the group of organizations involved in selling and promoting goods from the time they are produced until they reach end users channel members/partners - correct answer the firms a company partners with to actively promote and sell a prod...

MKTG 3340 Chapter 77 Steps of Offering Development - correct answer 1. Idea Generation 2. Idea Screening 3. Feature Specification 4. Development 5. Testing 6. Launch 7. Evaluation The New-Product Development Process - correct answer consists of the seven stages an organization goes through ...

MKTG 3340 Ch. 7 DSM_________ is defined by consumers on important attributes — the place the product occupies in consumers' minds relative to competing products. A. A value proposition B. A positioning statement C. A product position D. Competitive advantage - correct answer C Which of the...

MKTG 3340 Ch. 2__________ refers to dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs. A. Market segmentation B. A value chain C. Market penetration D. A value delivery network -...

MKTG 3340 CH. 2strategic planning - correct answer the process of developing and maintaining a strategic fit between the organization's goals and capabilities, and its changing marketing opportunities. first step in strategic planning - correct answer defining the company's mission second st...

MKTG 3340 Ch. 2 DSM__________ refers to dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs. A. Market segmentation B. A value chain C. Market penetration D. A value delivery netwo...

MKTG 3340 Besio Summer '18 Exam 2New Product - correct answer new to the world, new to the company, flankers (line extensions and brand extensions), require repositioning, model changes Why new products fail - correct answer poor planning and strategy, poor concept, poor execution, poor use of r...

MKTG 3340 (Chaoqun Chen) Exam 1 Review What is marketing? a set of processes for creating, communicating and delivering value to customers and for managing customer relationship in ways that benefit the organization and its stakeholders. four requirements for marketing to occur 1.) Two or mo...

MKTG 3340 - Final Possession utility - correct answer payment and credit options getting a product to consumers so they can own it or use it faster - using internet to do Form utility - correct answer customize purchases in bakery, deli, and florist Internet enabled communications - customers...

MKTG 3340 - Exam 1 relationship marketing - correct answer Links the organization to its individual customers, employees, suppliers, and other partners for their mutual long-term benefit Marketing mix - correct answer Also known as the Four Ps: product, price, place, promotion. Product: a good,...

MKTG 3340 - Exam #1What are the goals of marketing? - correct answer 1. Discover the needs and wants of prospective buyers 2. Satisfying these needs and wants through exchanges What is needed for marketing to occur? - correct answer 1. 2 or more parties with unsatisfied needs 2. A desire and ab...

MKTG 3340 - Chapter 11Product Life Cycle - correct answer Introduction, Growth, Maturation, Decline Introduction - correct answer Promote awareness and gain product trial Growth - correct answer Differentiate brand from competition Maturity - correct answer Maintain brand loyalty Decline...

MKTG 3340 - Chapter 2: Company and Marketing Strategy The growth-share matrix defines four types of SBUs: __________ are low-share business units in high-growth markets. - correct answer Question marks What is the name for the process of arranging for a product to occupy a clear, distinctive, an...

MKTG 3340 - Ch. 7customer driven marketing strategy - correct answer segmentation, targeting, differentiation, positioning market segmentation - correct answer the process of dividing a market into meaningful, relatively similar, and identifiable segments or groups marketing segmentation - cor...

MKTG 3340 - Ch. 5consumer buyer behavior - correct answer the buying behavior of final consumers - individuals and households that buy goods and services for personal consumption factors influencing consumer behavior - correct answer cultural, social, personal, psychological cultural - correct...

MKTG 3340 - Ch. 3marketing environment - correct answer includes the actors and forces outside marketing that affect management's ability to build and maintain successful relationships with target customers macroenvironment - correct answer the larger societal forces that affect the microenviron...

MKT 3340 FINAL Become An _____ ________ for the Media Decision Makers - correct answer Expert Source (media courage) Media coverage is important because it is - correct answer free advertising Why are nonprofits seen as experts? - correct answer - purity, altruism, trustworthiness - doing in...

Marketing 3340 4 basic business management practices - correct answer 1) strategy 2) execution 3) culture 4) structure sales response function - correct answer relates the expense of the marketing effort to the marketing results obtained. share points - correct answer percentage points of ...

Marketing 3340 Final Exam Possession Utility - correct answer A factor of Utility (the benefits or costumer value received by users of the product) is the value of making an item easy to purchase through the provision of credit cards or financial arrangements. Possession Utility -- getting a pro...

marketing 3340 exam 1 relationship marketing - correct answer links organization to customer, employee, supplier, other partners for mutual long term benefit before and after sale customer value - correct answer best price, product, service product - correct answer good, service, idea bundle ...