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MKTG Exam 1 Wolter Questions & Answers 2023/2024

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MKTG Exam 1 Wolter Questions & Answers 2023/2024 What are the eras of diff. orientations in the history of american business? - ANSWER-simple trade, production era, sales era, marketing era are all companies now in the marketing era? - ANSWER-no, some companies are still in production era what are two characteristics that define a market? - ANSWER-desire AND ability to to buy a specific thing can you identify whether or not a group is in the market for a certain product using those...

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Mktg Exam 1 Questions & Answers 2023/2024

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Mktg Exam 1 Questions & Answers 2023/2024 Exchange brings - ANSWER-efficiency A product is a good, service, or idea to _______ the customer's needs. - ANSWER-satisfy With_________________, individuals find exchange partners to obtain the items that they need. - ANSWER-decentralized exchange __________ is/are the means of communication with the customer. - ANSWER-promotion Marketing is _______________. - ANSWER-exchange ___________________ is the process of setting marketing ...

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MKTG Exam 1 Questions & Answers 2023/2024

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MKTG Exam 1 Questions & Answers 2023/2024 Marketing focuses on ___ and ___ consumer needs - ANSWER-discovering; satisfying What 4 factors are needed for marketing to occur? - ANSWER-1. two or more parties with unsatisfied needs 2. a desire and ability to have their needs satisfied 3. a way for the parties to communicate 4. something to exchange An organization can't satisfy the needs of all consumers, so it must focus on one or more subgroups, which are its ___ - ANSWER-target mar...

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MKTG Exam 1 Questions & Answers 2023/2024

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MKTG Exam 1 Questions & Answers 2023/2024 What are the four P's of the marketing mix? - ANSWER-Product, Price, Place, Promotion What is a product? - ANSWER-Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need What is place? - ANSWER-how you decide to distribute your product What is another word for promotion? - ANSWER-Communication What is promotion? - ANSWER-two way communication What is the definition of...

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MKTG exam 2 questions & answers 2023/2024

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MKTG exam 2 questions & answers 2023/2024 what are the two functions of a brand - ANSWER-identify and differentiate waht are the two parts that make up a brand - ANSWER-brand name and brand mark seeing a brand can cause consumers to automatically think of the attributes of the firm - ANSWER-true a brand is confined to the physical name or logo associated with the firm - ANSWER-false the real value of a brand lies in - ANSWER-what the consumer thinks about the firm when the brand...

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MKTG Exam 1 Questions & Answers 2023/2024

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MKTG Exam 1 Questions & Answers 2023/2024 Self Reference Criterion - ANSWER-the unconscious reference of one's own cultural values, experiences, and knowledge as a basis for decisions ethnocentrism - ANSWER-occurs when people judge other cultures using the value structures of their own culture Domestic vs. International Marketing - ANSWER-International marketing is the performance of business activities designed to plan, price, promote and direct the flow of a company's goods and se...

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MKTG Exam 1 Questions & Answers 2023/2024

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MKTG Exam 1 Questions & Answers 2023/2024 Integrated Marketing Programs - ANSWER-Product, Price, Place, Promotion Marketing Process - ANSWER-1) Initial two steps: define who you are and understand the customer needs 2) Strategy: Segmentation, Targeting, Positioning (Tactics) 3) Tactics: Product, Price, Place Promotion Maslow HoN - ANSWER-As you further up the pyramid, the consumer perceives it has a higher value, will pay more for it SWOT - ANSWER-SW: Internal OT: External Mi...

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MKTG Exam 1 Questions & Answers 2023/2024

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MKTG Exam 1 Questions & Answers 2023/2024 Marketing - ANSWER-creating, communicating, delivering and exchanging offerings that have value for customers etc. Exchange - ANSWER-people giving up something in order to receive something else they would rather have Four competing philosophies strongly influence an organization's marketing processes - ANSWER-Production Orientation Sales Orientation Market Orientation Societal Marketing Orientation Production Orientation - ANSWER-phi...

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MKTG Final Exam Questions & Answers 2023/2024

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MKTG Final Exam Questions & Answers 2023/2024 What is the definition of marketing?: - ANSWER-marketing analyzes the needs of people. What is meant by the marketing concept - ANSWER-the idea that an organization should aim all its effort at satisfying its customers - at a profit. Described by a three circle model: - Total company effort - Customer Satisfaction - Profit (or another measure of long term success) as an objective What is the micro-macro dilemma - ANSWER-What is good f...

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BUNDLE - PII EXAMS

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BUNDLE - PII EXAMS

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