Marketing 2400 Final Exam Complete Questions With Verified Guaranteed Answers.
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Course
BUSI 2400
Institution
BUSI 2400
Exchange - correct answer An exchange can take place only if the following five conditions exist-
1. There must be at least two parties
2. Each party has something that might be of value to the other party
3. Each party is capable of communication and deliver...
Exchange - correct answer An exchange can take place only if the following five
conditions exist-
1. There must be at least two parties
2. Each party has something that might be of value to the other party
3. Each party is capable of communication and delivery
4. Each party is free to accept or reject the exchange offer
5. Each party believes it is appropriate or desirable to deal with the other party
Four Marketing Philosophies - correct answer 1. Production Orientation
2. Sales Orientation
3. Marketing Orientation
4. Social Marketing
Marketing Concept - correct answer The idea that the social and economical
justification for an organization's existence is the satisfaction of customer wants and needs while
meeting organizational objectives
Customer satisfaction - correct answer customers' evaluation of a good or service in
terms of whether it has met their needs and expectations
Customer Value - correct answer Buyers' benefits, including the quality,
convenience, on-time delivery, and before-and after-sale service as a specific price.
Expectations - correct answer The anticipations of consumers, firms, and others
about future economic conditions.
Target market - correct answer one or more specific groups of potential consumers
toward which an organization directs its marketing program
, Marketing mix - correct answer The controllable factors: product, price, promotion,
and place that the marketing manager use to solve a marketing problem
Environmental scanning - correct answer Collection and interpretation of
information about forces, events and relationships is the external environment that may affect the
future of the organization of the implementation of the marketing plan.
Strategic planning - correct answer The managerial process of creating and
maintaining a fit between the organization's objectives and resources and the evolving market
opportunities.
Marketing plans - correct answer a written document that acts as a guidebook of
marketing activities for the marketing manager
External environments - correct answer all events outside a company that have the
potential to influence or affect it
BCG Model/Matrix - correct answer Star- in the portfolio matrix, a business unit
that is a fast-growing market leader
Problem Child-in the portfolio matrix, a business unit that shows rapid growth but poor profit margins
Dog-in the portfolio matrix, a business unit that has low growth potential and a small market share
Cash Cow-in the portfolio matrix, a business unit that generates more cash than it needs to maintain its
market share
SWOT analysis - correct answer Identifying internal strengths (S) and weakness (W)
and also examining external opportunities (O) and threats (T)
Competitive advantage - correct answer One or more unique aspects of an
organization that cause target consumers to patronize that firm rather than competitors. A set of unique
features of a company and its products that are perceived by the target market as significant and
superior to those of the competition
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