MBA 706 Test 1 Questions and Answers 100% CorrectMBA 706 Test 1 Questions and Answers 100% CorrectMBA 706 Test 1 Questions and Answers 100% CorrectMBA 706 Test 1 Questions and Answers 100% Correct
Marketing - ANSWER-*is about identifying and meeting human and social needs. One of the shortest good...
Marketer - ANSWER-is someone who seeks a response—attention, a
purchase, a vote, a donation—from another party, called the prospect.
,Marketing management - ANSWER-*takes place when at least one party to a
potential exchange thinks about the means of achieving desired responses
from other parties.
*the art and science of choosing target markets and getting, keep- ing, and
growing customers through creating, delivering, and communicating superior
customer value.
Metamarket - ANSWER-a cluster of complementary products and services
closely related in the minds of consumers, but spread across a diverse set of
industries.
Needs - ANSWER-the basic human requirements such as for air, food, water,
clothing, and shelter
Demands - ANSWER-are wants for specific products backed by an ability to
pay
8 Demand States - ANSWER-negative, nonexistent, latent, declining,
irregular, unwholesome, full, overfull
, market - ANSWER-a collection of buyers and sellers who transact over a
particular product or product class
Key Customer Markets - ANSWER--Consumer: companies selling mass
consumer goods and services
-business: companies selling business goods and services
-global: global marketplace
-nonprofit and governmental: companies selling to nonprofit organizations
Marketplace - ANSWER-Physical
a store front
Marketspace - ANSWER-Digital
shopping on the internet
5 types of needs - ANSWER-1. Stated needs (The customer wants an
inexpensive car.)
2. Real needs (The customer wants a car whose operating cost, not initial
price, is low.)
3. Unstated needs (The customer expects good service from the dealer.)
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