Exam (elaborations)
MGT 103 Quiz 1 with complete solutions
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MGT 103 Quiz 1 with complete solutions
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MGT 103 Quiz 1 with complete solutionsHow iido iiyou iijudge iia iiproduct? ii- iiAnswers ii-not iiby iifeatures iibut iihow iiit iihelps iiyou iido
iiwhat iiyou iiwant, iihow iiit iimakes iiyou iifeel, iiand iihow iiit iigives iiyou iithe iiexperience iiyou
iiwant
Needs iivs iiWants ii- iiAnswers ii-need= iibasic iinecessity
want= iineed iithat iiis iishaped iiby iia iiperson's iiknowledge, iiculture, iiand iipersonality
Ex: iiYou iihave iideveloped iia iibasic iineed iifor iisomething iito iieat iiand iiyou iiwant iito iieat
iia iiClif iibar iibecause iiit iiwill iisatisfy iiyour iineed
Marketing iiConcept ii- iiAnswers ii-Customer iiNeeds ii--> iiIntegrated iiMarketing ii--> iiProfits
iithrough iicustomer iisatisfaction
4 iiP's iifor iisatisfying iicustomer iineeds ii- iiAnswers ii-Product, iiPrice, iiPromotion, iiand
iiPlace ii(a iimeans iiof iigetting iithe iiproduct iito iithe iicustomer)
Environmental iiforces iithat iiaffect iia iimarketing iidecision ii- iiAnswers ii-social, iieconomic,
iitechnological, iicompetitive, iiand iiregulatory iiforces
How iiorganizations iibuild iistronger iirelationships iiwith iicustomers ii- iiAnswers ii-
marketers iiaim iito iihave iithe iibest iiprice, iibest iiproduct, iior iibest iiservice
Key iigoals iiand iiobjectives iifor iia iicompany iimust iibe iiS.M.A.R.T ii- iiAnswers ii-specific,
iimeasurable, iiattainable, iirelevant, iiand iihave iia iitimeline
4 iifactors iineeded iifor iimarketing iito iioccur ii- iiAnswers ii-1. iiTwo iior iimore iiparties iiwith
iiunsatisfied iineeds
2. iiDesire iiand iiability iito iisatisfy iithese iineeds
3. iiA iiway iifor iithe iiparties iito iicommunicate
4. iiSomething iito iiexchange
Growth iiStrategies ii- iiAnswers ii-1. iimarket iipenetration: iiincrease iisales iiof iiexisting
iiproducts iito iiexisting iimarkets ii
2. iimarket iidevelopment: iiintroduce iiexisting iiproducts iito iinew iimarkets
3. iiproduct iidevelopment: iinew iiproducts iiin iiexisting iimarkets
4. iidiversification: iinew iiproducts iiand iinew iimarkets
Ben ii& iiJerry's iiexample:
1. iiselling iimore iiice iicream iito iiAmericans
2. iiselling iiice iicream iito iiBrazilians iifor iithe iifirst iitime
3. iiselling iiclothing iiunder iiB&J iiname iito iiAmericans
4. iiselling iiclothing iito iiBrazilians
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