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UNL Marketing 300 Exam 1 Study Guide Guaranteed A+

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UNL Marketing 300 Exam 1 Study Guide Guaranteed A+ Marketing is the activity, set of institutions, and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Marketing Requires 4 Ps...

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  • September 27, 2024
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  • UNL Mkt 300 Exm 1 Study Guaranteed A+
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UNL Marketing 300 Exam 1 Study Guide Guaranteed A+
Marketing ✅is the activity, set of

institutions, and processes for creating,

capturing, communicating, delivering,

and exchanging offerings that have

value for customers, clients, partners,

and society at large.



Marketing Requires 4 Ps ✅Product,

Price, Place, and Promotion (know examples)



Product ✅Creates Value. The fundamental

purpose of Marketing is to create value by. developing a variety of

offerings, including goods, services, and ideas, to satisfy

customer needs.



Price ✅Capturing Value. Price is everything a buyer

gives up (money, time, energy)

in exchange for the product - what is the buyer willing to pay for a product?



Place ✅Delivering the Value Proposition

Place, or supply chain management, describes all

activities necessary to get the product to the right

customer when the customer wants it. Where would you find this

product in the store?



Promotion ✅Communicating value. Promotion is communication by a

, marketer that informs, persuades, and reminds potential buyers about a product or service to influence
their opinions

or elicit a response



Marketing Impacts Various

Stakeholders ✅Society, customers, employees, supply chain



Value Driven Companies ✅Share information

across their

organization



Balance customer's

benefits and costs



Build relationships

with customers



Sustainable Competitive Advantage*** ✅Customer excellence, product excellence, locational
excellence, operational excellence (know definition and examples)



Customer Excellence ✅Retaining loyal customers, customer service



Operational Excellence ✅Efficient operations, excellent supply chain management



Step 1 of the Marketing Plan (planning phase)* ✅Business Vision and Mission



Step 2 of the Marketing Plan (planning phase) ✅Situation analysis +SWOT

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