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MBA 706-M. Kim-Summer AP1 '23 questions and answers Segmentation & Target Marketing~consider markets as individuals, institutions, or group of ppl. have similar needs that can be met by specific offering ~aim to identify specific customer needs & design marketing programs to satisfy needs ~firms must comprehensively understand current & potential customers, motivations, behaviors, needs, wants ~segmentation allows marketers to more precisely define and understand customer n...

MBA 706 test 2 answers Traditional Organizational Structurepyramid with the president at the top, man- agement in the middle, and frontline people and customers at the bottom Customer Perceived Value (CPV)the difference between the prospective customer's evaluation of all the benefits and all the costs of an offering and the perceived alternatives Total Customer Benefitthe perceived monetary value of the bundle of economic, functional, and psychological benefits customers...

MBA 706 Koksal Test 2 answers Market SegmentationUsually one product/marketing approach does not appeal to all customers Market SegmentationMarket needs to be strategically divided into groups consisting of consumers with similar wants and needs. Market SegmentationProcess of dividing consumers into groups with similar wants and needs. Undifferentiated marketingInstead of segmentation, company targets all consumers with a single offering. Differentiated marketingCo...

MBA 706 Exam Study Guide Saleh answers What is the definition of a mission?Unique purpose that distinguishes the organization from other companies and defines the boundaries of its operations What does a mission do?Proclamation of organizations primary objective that encapsulates its core values What should a mission do?Characterize the organization's principles and priorities and define the broad product, market, and technologies that are core to the business. A Mi...

MBA 706 Exam 2 answers MissionA proclamation of the organization's primary objective that encapsulates its core values Influences on an organization's missionCorporate Governance Stakeholders Business Ethics Cultural Context broad mission statementCommon and not restraining Narrow mission statementIs restraining and focuses too much on one thing Characteristics of successful mission statementsCredibility Uniqueness Specific Capabilities Aspirational ...

MBA 706 Exam 1 and answers the curse of mature markets whereby products lack any real means of differentiation and customers see competing products as offering roughly the same benefitsCommoditization involves the analysis of economic, political, legal, technological, and cultural events and trends that may affect the future of the organization and its marketing efforts.Environmental scanning C. Price has a direct connection with customer demandWhich of the following state...

MBA 706 Exam 1 and answers Commoditizationthe curse of mature markets whereby products lack any real means of differentiation and customers see competing products as offering roughly the same benefits Environmental scanninginvolves the analysis of economic, political, legal, technological, and cultural events and trends that may affect the future of the organization and its marketing efforts. Which of the following statements about pricing decisions in the marketing program ...

MBA 706 Chen: Exam 1 and answers What is marketing?- Helps to build brand equity and the company reputations - Helps engage the customer and the company can learn from its customers relationships - Helps a company stay ahead of the competition What can be marketed?- Goods - Services - Experiences - Events - Persons - Places - Properties - Organizations - Information - Ideas Product/production orientation- Focus on building a better gadget - Ford Model T Sales orientationFocus on convin...

JRN 430 answers Judicial ReviewThe power of the courts to declare laws unconstitutional JurisdictionThe authority of a court to hear a case. 2 types - Geographical - Topical precedentA decision made by a higher court that serves as a basis for deciding similar cases Common LawA legal system based on precedents, established by the courts Unwritten Civil LawA legal system based on a written code of laws Four Principle of Law1.) Individuals and entities are accoun...

JRN 430 answers Judicial ReviewThe power of the courts to declare laws unconstitutional JurisdictionThe authority of a court to hear a case. 2 types - Geographical - Topical precedentA decision made by a higher court that serves as a basis for deciding similar cases Common LawA legal system based on precedents, established by the courts Unwritten Civil LawA legal system based on a written code of laws Four Principle of Law1.) Individuals and entities are accoun...