100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Marketing 350 Final Exam GVSU (Walz) || Questions and 100% Accurate Answers. $11.49
Add to cart
Quickly navigate to
Preview
  2.  
  3. Mktg 350
  4.  
  5. Mktg 350

Exam (elaborations)

Marketing 350 Final Exam GVSU (Walz) || Questions and 100% Accurate Answers.
 0 purchase
  • Course
  • Mktg 350
  • Institution
  • Mktg 350

What are Cookies? correct answers These help companies track an item from the moment they are manufactured, through the distribution system, to the retail store, and into the hands of the consumer. What is marketing? correct answers The set of institutions and processes for 1. creating, 2. captu...

[Show more]

Preview 2 out of 10  pages

Document information

  • August 28, 2024
  • 10
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

Written for

  • Mktg 350
  • Mktg 350

Seller

avatar-seller
FullyFocus

Reviews received

Content preview

Marketing 350 Final Exam GVSU (Walz) || Questions and
100% Accurate Answers.
What are Cookies? correct answers These help companies track an item from the moment they
are manufactured, through the distribution system, to the retail store, and into the hands of the
consumer.

What is marketing? correct answers The set of institutions and processes for 1. creating, 2.
capturing, 3. communicating, 4. delivering, and 5. exchanging offerings that have value for the
customers, clients, partners and society at large. -Satisfaction of needs and wants through the
whole exchange

What are the 4 p's (marketing mix)? correct answers Product (creating value), price (capturing
value)- how much a customers are willing to pay so they get value but the company still receives
a profit, promotion (communicating value)- tool that informs, persuades, and reminds the
customer, and place/distribution (deliver value)- right product, right place, right time, right
customer

What does marketing have to do with value and the exchange process? correct answers
Marketers are exchange facilitators (that helps us get value)

What do market oriented and value based companies focus on? correct answers Information
centered: collecting information from customers and competitors and sharing it to (manufactures
and employees). Relationship oriented: Build relationships with everyone (customers, retailers,
suppliers, employees) by customer relationship management (CRM)- a philosophy and set of
strategies, programs, and systems that focus on identifying and building loyalty with the firms
most valuable customers.

Customer Satisfaction vs. value correct answers satisfaction: the feeling a product or service
gives the customer when it have met the customers expectations.

P>E=delight
P<E= dissatisfaction
P=E=satisfied

Customer value: what the customer gets compared to what they give (cost vs. benefits)
cost= line, money, gas, opport. cost.
Benefits: quality, flavor, quantity, smell

Corporate Social Responsibility (CSR) correct answers voluntary actions taken by a company to
address the ethical, social, and environmental impacts of its business operations and the concerns
of its stakeholders. actions taken to increase positive effect and decrease negative effects of a
firm on society

, What is the marketing plan? correct answers a written document that acts as a guidebook of
marketing activities for the marketing manager. Step 1. mission statement: "What are we, and
why we are in business." Focuses on the benefits rather than the product (If you do not suffer
from marketing myopia). Step 2. SWOT Analysis Strengths and Weakness are internally, and
Opportunities and Threats are external. then SMART objectives, this is a statement of what is to
be accomplished has to be Specific, Measurable, Attainable, and Relevant with the mission
statement, and in a certain Time Frame. Step 3. target market and positioning. Step 4. implement
the marketing mix. Step 5. evaluate performance.

What is a marketing strategy? 3 components correct answers Target market: the group of
customer you are going to focus on satisfying their needs and wants with value.
Marketing mix 4 p's: how are you going to satisfy that
SCA: something that a firm can persistently do better than the competitors and cannot be copied
in the long run.

market penetration strategy correct answers a growth strategy that employs the existing
marketing mix and focuses the firm's efforts on existing customer

market development strategy correct answers a growth strategy that employs the existing
marketing offering to reach new market segments, whether domestic or international

product development strategy correct answers a growth strategy that offers a new product or
service to a firm's current target market

diversification strategy correct answers a growth strategy whereby a firm introduces a new
product or service to a market segment that it does not currently serve

what is a market? correct answers a group of customers that have all the same general need or
want

what is a segment ? correct answers market + some other characteristics that have separated them
from the rest of the market (dividing the market into segments)

What is a target market? correct answers segment of the market that a firm decides to satisfy by
developing valuable 4 P's/marketing mix. every segment you target gets their own 4 p's.

What is positioning? correct answers "How do you want customers to think of you compared to
the other competitors?" defining the 4P's so customers get a clear, distinctive, and desirable
understanding of what the product does and represents in comparison to other products

RFID (radio frequency identification) correct answers Enables firms to track an item from the
moment it was manufactured, through the distribution system, to the retail store, and into the
hands of the consumer.

Cookies correct answers These help companies track what a customer does on the web, allowing
marketers to better meet the needs/wants but increasing privacy concerns.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller FullyFocus. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $11.49. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

64670 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 15 years now

Start selling

Recently viewed by you

Summary ·

(0)

Samenvatting Sportbusiness en ethiek H2§2 Sport (Minor sportmanagement 1)

Summary ·

(0)

Samenvatting crisishantering, deel 2, hoofdstuk 1 (grenzen aangeven)

Exam (elaborations) ·

(0)

Tentamen (uitwerkingen) financieel administratief management deel 3

Exam (elaborations) ·

(0)

CARDIOPULMONARY CONDITIONS- NBCOT |81 QUESTIONS WITH 100% CORRECT ANSWERS

Exam (elaborations) ·

(0)

Betty Burns I human case study Severe Atraumatic Lower Back Pain

Exam (elaborations) ·

(0)

CSTU 101 quiz 6 Quiz Rome and Christianity Fall 2023 Scored 80/80

Exam (elaborations) ·

(0)

DNP 801 Topic 2 DQ 1 Correctly Answered /LATEST UPDATE VERSION/ GRADED A+

Exam (elaborations) ·

(0)

History of CIV 1, Chapter 1 Practice Exam Questions Correctly Answered.

Exam (elaborations) ·

(0)

NURS 6630N-5, Week 11 Final Exam; Summer 2021( Graded A) Complete Solution!
$11.49
  • (0)
Add to cart
Added