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Exam 1 Marketing COB 300 Mcmillen Exam Questions and Answers 100% Passs £10.43
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Exam 1 Marketing COB 300 Mcmillen Exam Questions and Answers 100% Passs
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Exam 1 Marketing COB 300 Mcmillen Exam Questions and Answers 100% Passs Definition of Marketing - The process of creating, distributing, promoting, and pricing goods, services, and ideas to facilitate satisfying exchange relationships with customers and to develop and maintain favorable relat...

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  • January 8, 2025
  • 22
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • exam 1 marketing cob 300 mcmillen exam questions a

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  • COB 300
  • COB 300

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Exam 1 Marketing COB 300
Mcmillen Exam Questions and
Answers 100% Passs

Definition of Marketing - ✔✔The process of creating, distributing, promoting, and pricing goods,

services,


and ideas to facilitate satisfying exchange relationships with customers and to develop and


maintain favorable relationships with stakeholders in a dynamic environment


Target Market - ✔✔A specific group of customers on whom an organization focuses its


marketing efforts


Marketing Mix - ✔✔Product, promotion, price, and distribution


Good - ✔✔physical entity you can touch


Service - ✔✔The application of human and mechanical efforts to people or objects to


provide intangible benefits to customers


Distribution Variable - ✔✔o satisfy customers, products must be available at the right time and in

appropriate locations




X
Emily Charlene
Lead Athor

©All Rights Reserved, 2025

,2|Page


•


A marketing manager makes products available in the quantities desired to as many target-market


customers as possible while minimizing these three costs:


•


Inventory


•


Transportation


•


Storage


•


A marketing manager also may:


•


Select and motivate intermediaries (wholesalers and retailers)


•


Establish and maintain inventory control procedures


•


Develop and manage transportation and storage systems


•




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Emily Charlene
Lead Athor

©All Rights Reserved, 2025

, 3|Page


The advent of the internet and electronic commerce has dramatically influenced the distribution


variable


•


Companies now can make their products available throughout the world without maintaining


facilities in each country


Promotion Variable - ✔✔Increase public awareness of the organization and of new or existing products


•


Inform customers about product features


•


Urge people to take a particular stance on a political or social issue


•


Help to sustain interest in established products


Price Variable - ✔✔Price is a critical component of the marketing mix because customers are concerned


about the value obtained in an exchange


•


Price is often used as a competitive tool


•


Intense price competition sometimes leads to price wars




X
Emily Charlene
Lead Athor

©All Rights Reserved, 2025

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