Marketing 350 Worsham Final || with A+ Guaranteed Solutions.
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Course
Mktg 350
Institution
Mktg 350
Core Aspects of Marketing correct answers 1. Helps create value
2. Satisfying customer needs/wants
3. Entails an exchange
4. Requires 4 p's decisions
5. Can be performed by both individuals and organizations
6. Affects various stakeholders
Exchange correct answers Can be monetary or a barte...
Marketing 350 Worsham Final || with A+ Guaranteed
Solutions.
Core Aspects of Marketing correct answers 1. Helps create value
2. Satisfying customer needs/wants
3. Entails an exchange
4. Requires 4 p's decisions
5. Can be performed by both individuals and organizations
6. Affects various stakeholders
Exchange correct answers Can be monetary or a barter.
4 Eras correct answers Production
Sales
Marketing
Value Based
Production Era correct answers producing best product - Henry Ford
Sales Era correct answers producing more than bought
emphasis is on sales people.
Marketing Era correct answers Satisfy customer's needs
sell goods and services based on what people need
Value Based Era correct answers giving customer what they want, better value, get what you pay
for, $ is not the most important factor.
SWOT Analysis correct answers Analysis of a firm's internal:
Strengths
Weaknesses
Opportunities
Threats
Segmentation correct answers Taking a large heterogenous market, and dividing it into smaller,
homogenous segments
Positioning correct answers Developing a clear, distinctive, desirable understanding of your
product compared to the competition... the place your product occupies in the mind of the
consume
4 Product Growth Strategies correct answers 1. Market Penetration
2. Product Development
3. Market Development
4. Diversification
Market Penetration correct answers sells more current products to current customers. Possible
via sales promotions
CP to CC
Market Development correct answers Sells current products/services to new market segments
CP to NM
Product Development correct answers sells new products/services to current target market.
NP to CM
Diversification correct answers New product to new market segment.
Corporate Social Responsibility correct answers company address the ethical, social, and
environmental impacts of its business
Impacts of Corporate Social Responsibility correct answers -employees and families
-current and potential customers
-community and environment
-partners and competitors
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