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USC BUAD 307 Lars Perner Midterm Questions And Answers Rated A+ $11.99   Add to cart

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USC BUAD 307 Lars Perner Midterm Questions And Answers Rated A+

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  • USC BUAD 307
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  • USC BUAD 307

USC BUAD 307 Lars Perner Midterm Questions And Answers Rated A+ 5 things that marketing does ANS Create, capture, communicate, deliver, exchange Exchanging Value ANS Customer provides the seller compensation in return for getting the product or service What must happen for a deal to go thr...

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  • October 28, 2024
  • 11
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • usc buad 307
  • USC BUAD 307
  • USC BUAD 307
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USC BUAD 307 Lars Perner Midterm Questions And
Answers Rated A+
5 things that marketing does ANS Create, capture, communicate, deliver, exchange



Exchanging Value ANS Customer provides the seller compensation in return for getting the
product or service



What must happen for a deal to go through? ANS Both sides must value what they get more than
what they give up



Marketing as an exchange ANS Marketing usually involves an exchange between buyers and
sellers or between other parties



Does money always have to be exchanged? ANS No. Goods and services is usually the most
convenient way of trade.



Why is place important for marketing? ANS its where you deliver the value proposition



Starbucks use of data to place new locations ANS Means expanding its storefronts constantly and
opening up in creative locations such as kiosk, baggage claims, etc



Marketing Chain Management ANS Making sure merchandise is produced/distubuted in the right
quantities, locations, time, all while minimizing costs and satisfying customers



Value ANS Reflects the relationship of benefits to costs



Value co creation ANS Fir is no longer the sole provider of value rather the consumer takes an
active role in creating their own value

, Example of value co creation ANS Customizing nike shoes, clients work with financial advisor
to build portfolio



marketing strategy ANS Firms target market, marketing mix, and method of obtaining a
sustainable competitive advantage



4 strategies that focus on aspects of the marketing mix ANS Customer excellence, Operational
excellence, Product excellence, and Locational excellence



Customer Excellence ANS Focuses on retaining loyal customers and excellent customer service



Operational Excellence ANS Achieved through efficient operations and excellent supply chain
and human resource management



Product Excellence ANS Having products with high perceived value and effective branding and
positioning


Locational Excellence ANS Having a good physical location and internet presence



Business Unit Level ANS Managers will have different responsibilities for different areas



Functional Level ANS Allow managers to specialize to increase managerial accountability



Sustainable Competitive Advantage ANS Advantage over the competition that is not easily
copied and can be maintained over a long period of time



Market Segmentation ANS Process of dividing the market into groups of customers with
different needs, wants, or characteristics who therefore might appreciate products or services geared
especially for them

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