Marketing - correct answer ✔✔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
What is the key to marketing? - correct answer ✔✔Value
Value - correct answer ✔✔Benefit - cost
Elements of marking mix - correct answer ✔✔-price
-promotion
-product
-place
Production Orientation - correct answer ✔✔Production era
Sales Orientation - correct answer ✔✔Focusing organizational efforts on selling as many products as
possible
Market orientation - correct answer ✔✔The tendency of an economic activity to locate close to its
market; a reflection of large and variable distribution costs.
Value based pricing - correct answer ✔✔A pricing strategy that involves first determining the perceived
value of the product from the customer's point of view and then pricing accordingly.
sustainable competitive advantage - correct answer ✔✔a competitive advantage that other companies
have tried unsuccessfully to duplicate and have, for the moment, stopped trying to duplicate
Internal environment assessment - correct answer ✔✔Identifies the firm's strengths and weaknesses
External environmental assessment - correct answer ✔✔identifies opportunities and threats
Step Three: Identifying and Evaluating Opportunities Using STP - correct answer ✔✔STP
-Segmentation
-Targeting
-Positioning
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 BravelRadon. 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.