Exam (elaborations)
CM1 Questions with correct answers.
- Course
- Institution
CM1 Questions with correct answers.
[Show more]
Content preview
CM1 Questions with correct answersProduction and marketing together create utility Correct Answer-What is
marketing?
Communicating information about those goods and services to
prospective buyers
. Correct Answer-What is marketing? (1)
Making the products available when and where customers want them
. Correct Answer-What is marketing? (2)
Pricing merchandise and services
.
Providing after-sales service and following-up Correct Answer-What is
marketing? (3,4)
The want-satisfying power of a good or service Correct Answer-What is
utility
Form. Time. Place. Ownership Correct Answer-Four types of utility
Form Correct Answer-Conversion of raw materials and components into
finished goods and services
Time Correct Answer-availability of good and services when consumers
want them
, Place Correct Answer-Availability of goods and services at convenience
locations
Ownership Correct Answer-ability to transfer title to goods or services
from marketer to buyer
All organizations must create utility to survive Correct Answer-
Foundation for the creation of utility— designing, marketing want-
satisfying goods, services, and ideas
Activities marketers perform to create customers Correct Answer-
Identifying needs in the market place
Marketing specialists are responsible for the activities necessary to
create the customers Correct Answer-Identifying customer needs
,Designing products that meet those needs
Marketing Correct Answer-An organizational function and a set of
processes for:
Creating, communicating, and delivering value to customers.
Managing customer relationships in ways that benefit the organization
and its stakeholders
Exchange process Correct Answer-Activity in which two or more parties
give something of value to each other to satisfy perceived need
The benefits of buying summaries with Stuvia:
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
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
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 cracker. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $16.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81989 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now