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BUAD 301 Exam 1 Sivaraman questions with correct answers
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BUAD 301 Exam 1 Sivaraman questions with correct answers
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BUAD 301 Exam 1 SivaramanMarketing - correct answer ✔✔Identifying needs and wants of customers and finding ways to satisfying
them.
AMA Definition of Marketing - correct answer ✔✔The activity for creating, communicating, delivering
and exchanging offerings that benefit its customers, its organization, its stakeholders and society at large.
Product - correct answer ✔✔A set of benefits from which customers derive value.
Customer Analysis - correct answer ✔✔Who, why, how, where, and when are buyers buying your
product.
Types of Organizations - correct answer ✔✔For-profit, nonprofit, government organizations, Industry
Functional Level - correct answer ✔✔Groups that create value for an organization
Competition - correct answer ✔✔Includes all the actual and potential rivals offerings and substitutes
that a buyer might consider.
Department - correct answer ✔✔Groups with specific function
Cross-Functional Teams - correct answer ✔✔Groups with people from separate departments assembled
to complete a specific task.
Brand Competition - correct answer ✔✔Similar products/services to the same consumers, at the same
price.
Ex. Toyota vs. Honda
Industry Competition - correct answer ✔✔All companies making the same product
Ex. Toyota vs. Ferrari
, Form Competion - correct answer ✔✔all companies that manufacture products that supply the same
service.
Ex. Toyota vs. Harley
Generic Competition - correct answer ✔✔All companies that compete for the same consumer dollar.
Ex. Toyota vs. building an in-ground pool
SWOT Analysis - correct answer ✔✔Strengths
Weaknesses
Opportunities
Threats
4 P's of Marketing - correct answer ✔✔Product
Place
Price
Promotion
Corporate Level - correct answer ✔✔CEO
CMO
Strategic Business Unit
Core Values - correct answer ✔✔Principles that guide an organization
Mission - correct answer ✔✔A statement that sets out a company's goals
Organizational Culture - correct answer ✔✔
Marketing Dashboards - correct answer ✔✔Visual Display of essential marketing information
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