COB 300 Marketing: Antwerp Exam
Questions Verified Answers New
Update
4 Eras of Marketing - Answers -✔✔ 1. Production Era (1840 - 1930)
2. Sales Era (1920 - 1970
3. Marketing Concept Era (1855 - 1995
4. Customer relationship era (1990 - Present)
Requirements for marketing - Answers -✔✔ 1. 2+ parties with unsatisfied needs
2. Desire and ability to be satisfied
3. A way for the parties to communicate
4. Something to exchange
Malows's Hierarchy of Needs - Answers -✔✔ Market segments based on pyramid
levels
Physiological, safety, love and belonging, esteem, self actualization
Benefit segmentation - Answers -✔✔ Dividing customers into different market
segments based on the benefits they seek from product purchase and consumption
Target Market - Answers -✔✔ One or more specific groups of potential customers
where marketing is directed
Ultimate consumers - Answers -✔✔ People who use the products and services
purchased for a household, also called consumers, buyers or customers
Organizational buyers - Answers -✔✔ manufacturers, wholesalers, retailers and
government agencies that buy products and services for their own use or resale
Utility - Answers -✔✔ Value or benefit received by the user of the product
Exchange - Answers -✔✔ the trade of things of value between a buyer and a seller so
that each is better off after the trade
, Market - Answers -✔✔ people with both the desire and the ability to buy a specific
offering
Marketing mix - Answers -✔✔ the marketing manager's controllable factors, 4ps - that
can be used to solve a marketing problem
Customer value proposition - Answers -✔✔ cluster of benefits that an organization
promises customers to satisfy their needs
Marketing program - Answers -✔✔ a plan that integrates the marketing mix to provide
a good, service or idea to prospective buyers
Market segments - Answers -✔✔ relatively homogenous groups of buyers that have
common needs and respond similarly to a marketing action
Customer experience - Answers -✔✔ the internal response that customers have to all
aspects of an organization and its offering
Product - Answers -✔✔ a good, service or idea consisting of a bundle of tangible and
intangible attributes that satisfies customers needs and is received in exchange for
money or something else of value
How industry is structured - Answers -✔✔ Industry-->offerings-->for and nonprofits--
>sustainable development
Operational Excellence Golden Rule - Answers -✔✔ Variety kills efficiency
Product Leadership Golden Rule - Answers -✔✔ Cannibalize your success with
breakthroughs
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 Stuviaascorers. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
