Marketing mix variables Study guides, Class notes & Summaries

Marketing - ANSWERMarketing is 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. Marketing plan - ANSWERA written document that states the marketing goals for a product or product line, and describes the strategies and the implementation and control efforts the company intends to use to achieve those goals. Marketing plans contain: - An executive summary...

Brand equity correct answers refers to the consumer's perception of the level of quality for the company's product lines. Branding correct answers the process of creating an image for an organization. -Companies create equity for a product ad leverage that value to drive sales Brands correct answers tools that marketers use to identify their products and services and differentiate their products and services from those of competitors. Marcom mix/Marketing communications mix correct ...

Segmentation, Targeting, Positioning correct answers STP stands for ? Market segmentation correct answers The process of dividing a total market into groups consisting of people or organizations with relatively similar product needs in order to design a marketing mix that matches those needs heterogeneous market correct answers A market made up of individuals or organizations with diverse needs for products in a specific product class homogeneous market correct answers A market in which...

marketing - Answer-group of activities designed to expedite transactions by creating, distributing, pricing, and promoting goods, services, and ideas functions of marketing - Answer-buying, selling, transporting, storing, grading, financing, market research, risk taking exchange - Answer-the act of giving up one thing (money, credit, labor, goods) in return for something else (goods, services, or ideas) value - Answer-customer's subjective assessment of benefits relative to costs in deter...

MNM4805 Assignment 2 (COMPLETE ANSWERS) 2024 ;100 % TRUSTED workings, explanations and solutions. For assistance call or W.h.a.t.s.a.p.p us on ...(.+.2.5.4.7.7.9.5.4.0.1.3.2)........... ASSIGNMENT 02 When submitting this assignment, be sure to use the correct unique number, as shown below: Assignment number Due date Unique number Assignment 02 TBA TBA This assignment follows on Assignment 01 and the headings used there. It completes the content of the strategic marketing plan for your chos...

MGT 8803 – Marketing Latest Update 100% Pass Marketing Strategy Finding opportunities and developing profitable strategies to capitalize on those opportunities: Specifies a target market and related marketing mix. 5 Cs of Marketing Customer: buyers with needs the company aims to fulfill Company: goods or services provider fulfilling customer need Competitors: Orgs aiming to fulfill the same need as company Collaborators: external entities that work with company to create value Context: Envir...

Value is what you get for what you give. - Answer-True Serena studies her customer profiles, market research data, complaints, and other information, attempting to better understand what her customers want. Serena most likely operates in the __________ era of marketing. - Answer-Value-Based Marketing Four Winds Art Gallery recently began offering appraisals of customers' art collections, in addition to continuing to sell paintings. Four Winds is: - Answer-Expanding from offering just goods...

Identify the organization's current position, capabilities, objectives and constraints - Answer- Situation Analysis Identify the segmentation variables and segment the markets - Answer- Market Segmentation Develop profiles of each segment - Answer- Market Segmentation Evaluate the potential and attractiveness of each segment - Answer- Market Targeting Select the target segment(s) - Answer- Market Targeting Identify the positioning concept within each target segment - Answer- Prod...

BUSML 3250 Final Exam Review with Complete Solutions What is a price? The amount of money charged for a product or service. What is value-based pricing? Price is considered along with other marketing mix variables before the marketing program is set What are the steps in (customer) value-based pricing? 1. Assess customer needs and value perceptions 2. Set target price to match customer perceived value 3. Determine the costs that can be incurred 4. Design product to deliver value...

What are the 5 major decisions in marketing? correct answers 1) Should we go abroad? 2) Which markets should we enter? 3) How should we enter the market? 4) With what type of marketing mix? 5) With what type of marketing organization? Decision 1 "Should we go abroad?" correct answers - Customer issues - Company issues - Competition issues 'Which markets should we enter?' considerations correct answers - Company objectives - Environmental analysis (Economic, Political/Legal, Cu...