100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
MAR 3023 UF Professor Cooke Exam 1 || with 100% Verified Solutions. $11.79   Add to cart

Exam (elaborations)

MAR 3023 UF Professor Cooke Exam 1 || with 100% Verified Solutions.

 7 views  0 purchase
  • Course
  • MAR 3023 UF Professor Cooke
  • Institution
  • MAR 3023 UF Professor Cooke

SEGMENT 1: Marketing defintion correct answers the activity, set of institutions, and process for creating communicating, delivering, and exchanging products that have value for customers, clients, partners, and society at large Types of Utility correct answers form, place, time, possession T...

[Show more]

Preview 2 out of 15  pages

  • August 7, 2024
  • 15
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MAR 3023 UF Professor Cooke
  • MAR 3023 UF Professor Cooke
avatar-seller
FullyFocus
MAR 3023 UF Professor Cooke Exam 1 || with 100%
Verified Solutions.
SEGMENT 1: Marketing defintion correct answers the activity, set of institutions, and process
for creating communicating, delivering, and exchanging products that have value for customers,
clients, partners, and society at large

Types of Utility correct answers form, place, time, possession

Time Utility correct answers -Availability of a product

-Being able to get the product quickly

place utility correct answers the usefulness of a good or service as a function of the location at
which it is made available

form utility correct answers value of the vehicle which the product is given

spotify vs vinyl

possession utility correct answers the benefits associated with having a product

Exchange relationship correct answers cash or object in exchange for a produict

Creating value with an exchange relationship: correct answers we want to create value with an
exchange relationship as long as it is PROFITABLE and STABLE

Value correct answers perceived benefit
= ----------------------
price

Marketing Mix correct answers Product, Price, Place, Promotion

Marketing Mix: Price correct answers What is exchanged for the product

Also includes: list price, discounts, allowances, payment period, credit terms

Marketing Mix: Product correct answers A product can be a good, service, or idea

Marketing Mix: Place correct answers a means of getting the product to the consumer

Marketing Mix: Promotion correct answers Inform individuals or groups about the organization
and its products/services

, Marketing Program correct answers a plan that integrates the marketing mix to provide a good,
service, or idea to prospective buyers

market share correct answers (sales revenue of the firm )
= -----------------------------------
(total sales revenue of all firms in the industry, including the firm itself)



NOTE: Can also be measure in unit sales if makes more sense

STP Marketing correct answers Segmentation, Targeting, Positioning

STP: Segmentation correct answers divvying people in the market in meaningful ways
(Age, sex, race, likes sports, etc)

STP: Targeting correct answers Deciding which segments that the business can best meet the
customers needs of for Long Term Sustainability.

usually Cant meet needs of all segments, not worth pursuing

STP: Positioning correct answers How do you go after selected sement(S)

Four Business Orientations correct answers 1) the Production orientation
2) the Sales orientation
3) the Marketing orientation
4) the Societal marketing orientation

production orientation correct answers producing a singular product and that is all the buisness
has to worry about as they are only manufacturer

ex: Early automobiles didnt need advertising and shit

Sales Orientaiton correct answers company has to produce and actively sell the product to
consumers as they have options due to other firms entering the market.

Requires good sales people, must state how this product is better than others

Marketing Orientation correct answers job of buisness is to figure out the customer needs, and
Meet their needs for a long-term relationship

Market Orientation correct answers Marketing functions are important enough that all parts of
buisness perform them

Segment 2: The marketing environmnet correct answers ...

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 FullyFocus. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $11.79. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

79271 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
$11.79
  • (0)
  Add to cart