Busml 3250 exam Study guides, Class notes & Summaries

What is marketing? : The process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return Marketing Process : 1st 4 steps create value for customers, last step captures value from customers Understand marketplace and customer needs and wants Design a customer-driven marketing strategy Construct an integrated marketing program that delivers superior value Build profitable relationships and create customer del...

What makes a good segmentation? : ISASDA Identifiable Substantial Accessible Stable Differentiable Actionable What are the different tpyes of segmentation? : Geographic - country, city, neighborhood Demographic - age, gender, income, race Psychological - interests, activities, values, goals Behavioral - purchasing habits, customer loyalty What factors should you consider when choosing a target : Market Size Expected Growth 2 | P a g e Competitive position Cost of reaching ...

Marketing Channel : consists of individuals and firms involved in the process of making a product or service available for use or consumption by consumers or industrial users Agent or Broker : any intermediary with legal authority to act on behalf of the manufacturer Wholesaler : an intermediary who sells to other intermediaries, usually to retailers; term usually applies to consumer markets Transactional Functions : Buying: Purchasing products for resale or as an agent for supply of ...

CROPing : "CRedible OPinions" Activately seeking out information and postponing a purchase decision until all options have been evaluated. Consumer Behavior : the actions a person takes in purchasing and using products and services, including the mental and social processes that come before and after these actions Purchase decision process : the stages a buyer passes through in making choices about which products or services to buy. Five stages: 1) Problem Recognition 2) Informat...

BUSML 3250 Exam 2 Study Guide 2023

BUSML 3250 Exam 1 with 100% Correct Answers What is marketing? - answerThe process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return Marketing Process - answer1st 4 steps create value for customers, last step captures value from customers Understand marketplace and customer needs and wants Design a customer-driven marketing strategy Construct an integrated marketing program that delivers superior value...

BUSML 3250 Exam 1 _ Questions And Answers

BUSML 3250 Exam 1 With 100% Correct Answers In addition to selling food, drink, and a variety of items that feature its popular logo, Eskimo Joe's offers its customers a valuable experience, known as its ______________. A. Needs B. Market offering C. Demands D. Wants E. Marketing myopia - answermarket offering The owners of Eskimo Joe's understand the customers' needs and wants by sensing and responding to those needs, indicating that Eskimo Joe's assumes which philosophy? A....

BUSML 3250 Exam 1 with 100% Correct Answers What is marketing? - answerThe process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return Marketing Process - answer1st 4 steps create value for customers, last step captures value from customers Understand marketplace and customer needs and wants Design a customer-driven marketing strategy Construct an integrated marketing program that delivers superior value...