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Marketing Exam 1(Chapters 1-9) With Complete Solutions Latest Update
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Marketing Exam 1(Chapters 1-9) With Complete Solutions Latest Update
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Marketing Exam 1(Chapters 1-9) With CompleteSolutions Latest Update
4 P's of Marketing - correct answers product, price, place, promotion
Definition of 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
marketing process - correct answers UNDERSTAND customer needs and
wants⇒DESIGN marketing strategy⇒CONSTRUCT an integrated marketing
program⇒BUILD strong customer relations⇒CAPTURE value from customers in
return
target marketing - correct answers which segments to go after, which segment
your product fits best in
Integrated Marketing Program - correct answers plan that communicates and
delivers the intended value to your consumer
Marketing Mix - correct answers the set of tools (4 P's) the firm uses to implement
its marketing strategy
, Customer Relationship Management - correct answers process of building and
maintaining good customer relationships by delivering superior customer value
satisfaction
Strategic Planning - correct answers process of developing and maintaining a
strategic fit between the goals, capabilities and the changing opportunities
Steps in Strategic Planning - correct answers 1.define mission 2.set goals and
objectives 3.design a business portfolio 4. plan marketing strategies
Star in Boston Consulting Group Approach - correct answers High Growth Rate,
High Market Share
Question Mark in Boston Consulting Group Approach - correct answers High
Growth Rate, Low Market Share
Cash Cow in Boston Consulting Group Approach - correct answers Low Growth
Rate, High Market share
Dog in Boston Consulting Group Approach - correct answers Low growth rate, low
market share
Marketing Segmentation - correct answers the division of the market into distinct
groups of buyers. Has to be DISTINCT AND MEANINGFUL!
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