Mkt 320f - Study guides, Class notes & Summaries
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Exam (elaborations) MKT 320F
- Exam (elaborations) • 11 pages • 2024
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place️️making goods and services available in the right quantities and locations--when 
customers want them 
channel of distribution️️any series of firms or individuals who participate in the flow of 
products from producer to final user or consumer 
direct marketing️️direct communication between a seller and an individual customer using a 
promotion method other than face-to-face personal selling 
discrepancy of quantity️️the difference between the quantity of products it is eco...
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MKT 320F Questions and Answers Graded A+ Latest Update
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MKT 320F Questions and Answers Graded A+ Latest Update 
Which marketing management philosophy focuses on the question, "What do customers want and need?" - Answers Market 
A company that wants to implement a market orientation would need to: - Answers -do research on its customers, competitors, and markets. 
-establish and maintain mutually satisfying relationships with customers. 
-determine how to deliver superior customer value. 
-implement actions that provide value to customers. 
____...
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Exam (elaborations) MKT 320F
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Marketing️️the activity, set of institutions, and processes for creating, communicating, 
delivering, and exchanging offerings that have value for customers, clients, partners, and society 
at large 
Exchange️️people giving up something in order to receive something else they would rather 
have 
What are the five conditions of exchange?️️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 communic...
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Exam (elaborations) MKT 320F
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Segmentation & Targeting Steps/Overview️️1. Defining markets 
2. Understanding dimensions to use 
3. Identifying segments 
4. Deciding on segments to target 
5. Using segmentation approaches 
Differentiation & Positioning Steps/Overview️️1. Understanding customer's views 
2. Using positioning techniques 
3. Evaluating segment preferences 
4. Differentiating the marketing mix 
5. Knowing relationship between Positioning & targeting 
A Market is:️️people or organizations with needs ...
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Exam (elaborations) MKT 320F
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Summarize and explain the purpose of marketing in the organization and the basic marketing 
concept️️Marketing has three key purposes: (1) to acquire customers, (2) retain those 
customers, and (3) incentivize those customers to become brand ambassadors and promote the 
brand to their sphere of influence. 
Distinguish among the four main firm orientations and their historical 
connections️️production, sales, marketing, and societal marketing 
Describe the overview of the marketing discip...
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