Exam (elaborations)
MGT 103 Quiz 1 (Chapters 1-5) with correct Answers
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MGT 103 Quiz 1 (Chapters 1-5) with correct Answers
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MGT 103 Quiz 1 (Chapters 1-5) withcorrect Answers
Marketing ii- iiAnswers ii-the iiprocess iiof iicreating, iicommunicating, iidelivering, iiand
iiexchanging iiofferings iithat iihave iivalue iifor iicustomers, iiclients, iipartners, iiand iisociety
iiat iilarge--seeks iito iidiscover iithe iineeds iiof iithe iicustomer iiand iisatisfy iithose iineeds
Exchange ii- iiAnswers ii-the iitrade iiof iithings iiso iithat iieach iiparty iiis iibetter iioff iithan
iibefore
What iiis iineeded iifor iimarketing iito iioccur? ii- iiAnswers ii-1. iiTwo iior iimore iiparties iiwith
iiunsatisfied iineeds
2. iiDesire iiand iiability iito iisatisfy iithose iineeds
3. iiA iiway iifor iithe iiparties iito iicommunicate
4. iiSomething iito iiexchange
How iiare iiconsumer iineeds iidiscovered? ii- iiAnswers ii-surveys, iiconcept iitests, iiand
iiother iiresearch iistrategies
Needs iivs. iiWants ii- iiAnswers ii-Need: iilife iiwould iibe iisubstantially iiworse iiwithout iiit
Want: iisomething iithat iimay iibenefit iiyou iibut iiisn't iinecessary
The ii4 iiP's/Marketing iiMix ii- iiAnswers ii-Product, iiPrice, iiPromotion, iiPlace ii(distribution)
Environmental iiForces ii- iiAnswers ii-factors iinot iiunder iithe iicontrol iiof iia iimarketer iithat
iiaffects iia iimarketing iidecision--i.e. iisocial iitrends, iilaws, iietc.
Customer iiValue ii- iiAnswers ii-the iibenefits iireceived iiby iia iitargeted iibuyer
3 iiUnique iiStrategies iiof iiFirms ii- iiAnswers ii-best iiprice ii(Target), iibest iiproduct
ii(Starbucks), iibest iiservice ii(Nordstrom)--companies iicannot iibe iiall iithings iito iiall
iipeople, iiso iithese iistrategies iihelp iinarrow iitheir iidirection
Relationship iiMarketing ii- iiAnswers ii-linking iian iiorganization iito iiits iicustomers
iiemployees, iisuppliers, iiand iiother iipartners iifor iitheir iimutual iibenefit
Marketing iiProgram ii- iiAnswers ii-a iiplan iithat iiintegrates iithe iimarketing iimix iito iiprovide
iia iigood, iiservice, iior iiidea iito iiprospective iibuyers
, Market iiSegments ii- iiAnswers ii-homogenous iigroups iiof iibuyers iithat iihave iicommon
iineeds iiand iiwill iirespond iisimilarly iito iia iiproduct iifeature, iipromotion, iior iiprice--i.e. iirich
iiteenage iiboys
Marketing iiConcept ii- iiAnswers ii-the iiphilosophy iithat iian iiorganization iishould iistrive iito
iisatisfy iithe iineeds iiof iithe iicustomer iiwhile iialso iiachieving iitheir iiown iigoals
Customer iiRelationship iiManagement ii(CRM) ii- iiAnswers ii-the iiprocesses iiof
iideveloping iia iifavorable iirelationship iiwith iicustomers iiso iithat iithey iibecome iiloyal iiand
iigood iiadvocates iifor iiyour iicompany
Customer iiExperience ii- iiAnswers ii-the iiresponse iithat iicustomers iihave iito iiall iiaspects
iiof iian iiorganization
Market ii- iiAnswers ii-people iiwith iiboth iithe iidesire iiand iithe iiability iito iibuy iia iispecific
iioffering
Target iiMarket ii- iiAnswers ii-one iior iimore iispecific iigroups iiof iipotential iicustomers iithat
iia iimarketing iiprogram iidirects iiits iiattention iito
Customer iiValue iiProposition ii- iiAnswers ii-a iicluster iiof iibenefits iithat iian iiorganization
iipromises iicustomers iito iisatisfy iitheir iineeds
Social iiMarketing iiConcept ii- iiAnswers ii-the iibelief iithat iiorganizations iishould iisatisfy
iicustomers iineeds iiin iia iiway iithat iialso iibenefits iisociety
Ultimate iiConsumers ii- iiAnswers ii-the iipeople iiwho iiuse iithe iiproducts iiand iiservices
iipurchased iifor iia iihousehold
Organizational iiBuyers ii- iiAnswers ii-manufacturers, iiwholesalers, iiretailers, iiand
iigovernment iiagencies iithat iibuy iiproducts iiand iiservices iifor iitheir iiown iiuse iior iifor
iiresale
Utility ii- iiAnswers ii-the iibenefits iior iicustomer iivalue iireceived iiby iiusers iiof iithe iiproduct--
there iiare ii4 iiTypes iiof iiUtility
Form iiUtility ii- iiAnswers ii-the iiproduction iiof iithe iiproduct iior iiservice
Place iiUtility ii- iiAnswers ii-having iithe iiproduct iiavailable iiwhere iithe iicustomer iiwants iiit
Time iiUtility ii- iiAnswers ii-having iithe iiproduct iiavailable iiwhen iithe iicustomer iiwants iiit
Possession iiUtility ii- iiAnswers ii-having iithe iiproduct iibe iieasy iito iipurchase iiby
iiaccepting iithe iiuse iiof iicredit iicards iior iifinancial iiarrangements
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