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MKTG 3340 TESTS COMPILATION BUNDLE

MKTG 3340 TESTS COMPILATION BUNDLE

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MKTG 3340 EXAM 1| 124 Questions| With Complete Solutions

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what is marketing? correct answer: the management process involved in identifying, anticipating, and satisfying customer wants profitably what are the 2 goals of marketing? correct answer: 1. discover (assess) the needs and wants of prospective customers 2. satisfy these needs & wants through ...

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MARKETING 3340 FINAL EXAM REVIEW FALL 2023

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Alternative Growth Strategies: • Marketing Penetration • Market Development • Product Development • Diversification Alternative Consolidation Strategies: • Harvesting • Pruning • Retrenchment • Divestment Final Exam Review Product Life Cycle: • Introduction • Growth ...

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MKTG 3340 Orosy SMU Exam 2 (2 part) Questions With Complete Solutions

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How does idea generation play a role in the new product development process correct answer: it is stage 2 in the new product development process the new product development process stages correct answer: 1. new product strategy development 2. idea generation 3. screening and evaluation 4. bu...

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Marketing 3340 Study Guide Questions With Complete Solutions

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4 basic business management practices correct answer: 1) strategy 2) execution 3) culture 4) structure sales response function correct answer: relates the expense of the marketing effort to the marketing results obtained. share points correct answer: percentage points of market share, as...

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MKTG 3340 EXAM 1 Questions With Complete Solutions

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Role of Marketing correct answer: marketing is engaging customers and managing profitable customer relationships. the aim of marketing is to create value for customers in order to capture value from customers in return goal: attract new customers by promising superior value and to keep and grow ...

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MKTG 3340 Final – SMU Questions With Complete Solutions

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What are Some Errors in Communication? correct answer: sources may not adequately transform the abstract idea into an effective set of symbols a properly encoded message may be first sent through the wrong channel and never make it to the intended receiver the receiver may not properly transf...

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MKTG 3340 TEST 2 Questions With Complete Solutions

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STP correct answer: segment market target market positioning 1 product multiple segments correct answer: tums: you like spicy food you had too much fun last night multiple products and multiple segments correct answer: cars: minivan for family sports car for the CEO mass customizat...

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MKTG 3340 Exam 2 Questions With Complete Solutions

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How does idea generation play a role in the new product development process? correct answer: Crowd Sourcing, think of ideas, find a good idea, bring it to life Detailed understanding of Jennifer Pritchard and John Eckhardt's presentation content correct answer: Meet needs of airline passengers...

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MKTG 3340 Exam #2 Questions With Complete Solutions

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The purpose of marketing is to... correct answer: generate profitable Revenue Which statement is most likely true about idea generation in the new product development process? A. A company can either develop ideas through internal or external sources but not through both. B. Idea generation is...

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Marketing 3340 Exam 1 (Summer) Questions With Complete Solutions

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The marketing Mix correct answer: 4 controllable factors Price Product Promotion Place Target Market correct answer: one or more specific groups of potential customers toward which an organization directs its marketing program Market Segments correct answer: Homogenous group of buyers t...

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MKTG 3340 Exam 3 Questions With Complete Solutions

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How do intermediaries create value? correct answer: Transactional Function: buying/selling/risk taking Logistical Function: storing/assorting (mix of products)/sorting(lots of a single product)/bulk breaking(one large item broken down)/transporting Facilitating: financing/grading/marketing info a...

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MKTG 3340 Final Exam Questions With Complete Solutions

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Role of Marketing correct answer: Generate profitable revenue When a marketer can describe something it is called a correct answer: product concept After buying an item we experience what? correct answer: cognitive dissonance Ways to engage consumers, directly or indirectly correct answe...

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MKTG 3340 EXAM 2 QUESTIONS WITH COMPLETE SOLUTIONS

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how does idea generation play a role in the new product development process? correct answer: new product development process: strong new product planning, systematic and customer driven for finding and growing new products STEPS: 1. idea generation 2. idea screening 3. concept development and...

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MKTG 3340 FINAL Questions And Answers

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common mistakes in pricing correct answer: price is too cost oriented price is not revised often enough price doesn't take into account the rest of the marketing mix prices are not varied enough throughout the product line, market segments, distribution channels marketers perspective vs cons...

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MKTG 3340 FINAL Questions And Answers

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common mistakes in pricing correct answer: price is too cost oriented price is not revised often enough price doesn't take into account the rest of the marketing mix prices are not varied enough throughout the product line, market segments, distribution channels marketers perspective vs cons...

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MKTG 3340 Exam 2 Questions With Complete Solutions

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Market Segmentation correct answer: aggregate consumers into groups (segments) that have similar needs and will react similarly to a marketing action Segmentation Strategies correct answer: - 1 product w/ multiple target segments (Johnson shampoo for dogs or babies, tums for calcium or antacid)...

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MKTG 3340 Exam 1 (1,2,3,5,8) Questions With Complete Solutions

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Marketing correct answer: Delivery of customer satisfaction at a profit Goals of marketing correct answer: Attract new customers with value and keep current customers with satisfaction Requirements for Marketing correct answer: Two or more parties with unsatisfied needs Desire and ability ...

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MKTG 3340 EXAM 1 Questions With Complete Solutions

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Elements necessary in order for marketing to occur -2+ parties w/ unsatisfied needs (in order to have a marketing exchange) -DESIRE & ABILITY to satisfy those needs ("whats your budget?" - A way for the parties to COMMUNICATE - Something to exchange (that both parties agree is valuable) s...

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MKTG 3340 Quiz 1 Questions And Answers

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_______ needs and wants of customers and _______ them correct answer: discover, satisfy - goals of marketing people with both the desire and the ability to buy a specific offering correct answer: market a promise to your target customer of the value that your product/service will deliver cor...

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MKTG 3340 Midterm 1| 95 Questions| With Complete Solutions

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The Customer is... correct answer: everyone's responsibility. Goals of Marketing correct answer: (1) Discover (assess) the needs and wants of prospective customers. (2) Satisfy these needs and wants through EXCHANGES Requirements for Marketing to Occur correct answer: -Two + Parties wit...

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MKTG 3340 Final – SMU Questions With Complete Solutions

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What are Some Errors in Communication? correct answer: sources may not adequately transform the abstract idea into an effective set of symbols a properly encoded message may be first sent through the wrong channel and never make it to the intended receiver the receiver may not properly transf...

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