100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Previously searched by you
Previously searched by you
logo
Marketing_ Chapter One Vocabulary and Concept Review Questions & 100% Verified Correct Answers with complete solutions (Latest update CA$11.16   Add to cart
Quickly navigate to
Preview
  2.  
  3. Test13
  4.  
  5. Test13
  6.  
  7. Test13

Exam (elaborations)

Marketing_ Chapter One Vocabulary and Concept Review Questions & 100% Verified Correct Answers with complete solutions (Latest update

 0 view  0 purchase

Marketing_ Chapter One Vocabulary and Concept Review Questions & 100% Verified Correct Answers with complete solutions (Latest update

Preview 1 out of 3  pages

Document information

  • August 29, 2024
  • 3
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

Subjects

  • marketing chapter one vocabulary and concept revi

Written for

All documents for this subject (62)

Seller

avatar-seller
topgradesdr

Content preview

Marketing: Chapter One Vocabulary and Concept
Review
Marketing - ANS-the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners, and
society at large.

Exchange - ANS-The trade of things of value between buyer and seller so that each is better off
after the trade.

Market - ANS-individuals with both the desire and the ability to buy a specific offering.

Target Market - ANS-one or more specific groups of potential consumers toward which an
organization directs its marketing program.

Marketing Mix (the 4Ps) - ANS-Includes the controllable factors such as product, price,
promotion, and place. These can be used by the marketing manager to solve a marketing
problem.

Environmental Forces - ANS-consists of the uncontrollable forces which include, social,
economic, technological, competitive, and regulatory forces all which effect marketing decisions.

Customer Value - ANS-the unique combination of benefits received by targeted buyers that
include quality, convenience, on-time delivery, and both before-sale and after-sale service at a
specific price.

Relationship marketing - ANS-this links the organization to its individual customers, employees,
suppliers, and other partners for their mutual long-term benefit.

Marketing program - ANS-A plan that integrates the marketing mix (which is the 4Ps: product,
price, promotion, place) to provide a good, service, or idea to prospective buyers.

Market segments - ANS-the relatively homogeneous groups of prospective buyers that have
common needs and will respond similarly to a marketing action.

Marketing concept - ANS-the idea that an organization should strive to satisfy the needs of
consumers while also trying to achieve the organizations goals.

Market orientation - ANS-an organization that focuses its efforts on continuously collecting
information about customers needs, sharing this information across departments, and using it to
create customer value.

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

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

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

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 topgradesdr. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for CA$11.16. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

73243 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
CA$11.16
  • (0)
  Add to cart