100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
MBA 706 test 1 Questions and Answers 100% Solved $12.99   Add to cart

Exam (elaborations)

MBA 706 test 1 Questions and Answers 100% Solved

 5 views  0 purchase
  • Course
  • MBA
  • Institution
  • MBA

MBA 706 test 1 Questions and Answers 100% Solved

Preview 3 out of 16  pages

  • October 21, 2024
  • 16
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • MBA
  • MBA
avatar-seller
TheeGrades
MBA 706 test 1 Questions and Answers 100% Solved

Key Customer Markets CORRECT ANS--Consumer: companies selling mass consumer goods
and services
-business: companies selling business goods and services
-global: global marketplace
-nonprofit and governmental: companies selling to nonprofit organizations



Marketplace CORRECT ANS-Physical
a store front



Marketspace CORRECT ANS-Digital
shopping on the internet



Metamarket CORRECT ANS-a cluster of complementary products and services closely
related in the minds of consumers, but spread across a diverse set of industries.



Needs CORRECT ANS-the basic human requirements such as for air, food, water, clothing,
and shelter



Demands CORRECT ANS-are wants for specific products backed by an ability to pay



5 types of needs CORRECT ANS-1. Stated needs (The customer wants an inexpensive car.)
2. Real needs (The customer wants a car whose operating cost, not initial price, is low.)
3. Unstated needs (The customer expects good service from the dealer.)
4. Delight needs (The customer would like the dealer to include an onboard GPS naviga-
tion system.)
5. Secret needs (The customer wants friends to see him or her as a savvy consumer.)

, MBA 706 test 1 Questions and Answers 100% Solved
value proposition CORRECT ANS-a set of benefits that sat- isfy those needs.



Brand CORRECT ANS-An offering from a known source



Customer value triad CORRECT ANS-Value, a central marketing concept, is primarily a
combination of quality, service, and price (qsp), called the _____ ____ ____



satisfaction CORRECT ANS-reflects a person's judgment of a product's perceived
performance in relationship to expectations



Communication channels CORRECT ANS-deliver and receive messages from target buyers
and include newspapers, magazines, radio, television, mail, telephone, billboards, posters,
fliers, CDs, audiotapes, and the Internet



Marketing Environment CORRECT ANS-consists of the task environment and the broad
environment



Task Environment CORRECT ANS-includes the actors engaged in producing, distributing,
and promoting the offering



Broad environment CORRECT ANS-consists of six components: demographic environment,
economic envi- ronment, social-cultural environment, natural environment, technological
environment, and po- litical-legal environment.



12 key major societal forces CORRECT ANS-1. Network information technology
2. Globalization
3.deregulation
4.privatization
5. Heightened competition

, MBA 706 test 1 Questions and Answers 100% Solved
6. Industry convergence
7. Retail transformation
8. Disintermediation
9. Consumer buying power
10. Consumer information
11. Consumer participation
12. Consumer resistance



Marketing CORRECT ANS-*is about identifying and meeting human and social needs. One
of the shortest good definitions of marketing is "meeting needs profitably.


*is the activ- ity, set of institutions, and processes for creating, communicating, delivering,
and exchanging offerings that have value for customers, clients, partners, and society at large.



Marketing management CORRECT ANS-*takes place when at least one party to a potential
exchange thinks about the means of achieving desired responses from other parties.


*the art and science of choosing target markets and getting, keep- ing, and growing customers
through creating, delivering, and communicating superior customer value.



10 types of entities marketed? CORRECT ANS-Goods, services, events, experiences,
persons, places, properties, organizations, information, ideas



Marketer CORRECT ANS-is someone who seeks a response—attention, a purchase, a vote,
a donation—from another party, called the prospect.



8 Demand States CORRECT ANS-negative, nonexistent, latent, declining, irregular,
unwholesome, full, overfull

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 TheeGrades. 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.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

62890 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
$12.99
  • (0)
  Add to cart