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BMAL 590-Foundations of Marketing Exam with correct Answers
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BMAL 590-Foundations of MarketingExam with correct Answers
What iiis iimarketing? ii- iiAnswers ii-It iiis iiinvolved iiin iidesigning iiproducts iithat iicustomers
iiwill iienjoy, iipricing iithem iiappropriately, iimaking iithem iiavailable iifor iipurchase iiat iieasy
iipoints iiof iiaccess iiin iithe iimarketplace, iiand iiadvertising iithe iiproducts' iibenefits iito iithe
iicustomers.
5 iiC's ii- iiAnswers ii-customer, iicompany, iicontext, iicollaborators, iicompetitors
STP ii- iiAnswers ii-Segmentation, iiTargeting, iiPositioning
4 iiP's ii- iiAnswers ii-Product, iiPrice, iiPlace, iiPromotion
How iiis iimarketing iian iiexchange iirelationship? ii- iiAnswers ii-The iicustomer iiseeks
iibenefits iifrom iithe iicompany iiand iiexpects iito iipay.
The iicompany iioffers iibenefits iito iiits iicustomers iiand iiseeks iiprofits.
Why iiis iimarketing iiimportant? ii- iiAnswers ii-Enriches iisociety, iican iibe iientrepreneurial,
iiexpands iiglobal iipresence, iistrengthens iichannel iirelationships
Marketing iihas iievolved iifrom iia iifunction iito iian iiorganization-wide iiphilosophy
The iimarketing iiworld iiis iia iitruly iicustomer-oriented iiand iicustomer-empowered iiworld
iiwhere iithe iigoal iiis iito iibuild iiand iimaintain iirelationships iiwith iithe iicustomer
What iiis iia iimarket? ii- iiAnswers ii-The iiaggregate iiof iiall iipeople iior iiorganizations iiwho
iihave iia iineed iifor, iior iiwant, iia iiproduct iior iiclass iiof iiproducts iiand iihave iithe iimoney iito
iipay iifor iithem. iiIt iiis iisometimes iiused iito iimean iia iiplace, iireal iior iivirtual, iiwhere iibuyers
iiand iisellers iimeet iito iibuy iior iisell iigoods
Markets iimay iibe iisegmented iiby iicharacteristics iiof iithe iibuyer
What iiis iithe iiclassical iimarketing iiconcept? ii- iiAnswers ii-A iiphilosophy iiwhich iiguides
iithe iiattitude iiof iieveryone iiin iia iifirm iito iistimulate iiand iisatisfy iithe iineeds iiand iiwants iiof
iievery iicustomer
What iiis iia iicompetitive iimarketing iistrategy? ii- iiAnswers ii-It iiinvolves iiproduct iistrategy,
iipricing iistrategy, iiintegrated iimarketing iicommunications, iichannels, iiand iilogistics
,iistrategy. iiIt iineeds iito iioffer iivalue iito iithe iitarget iimarket, iithat iiis iidefined iiby iimarketing,
iiso iithat iithe iibusiness iimay iifocus iion iithose iiselected iimarkets
5 iiC's ii(expanded) ii- iiAnswers ii-Customers: iiWho iiare iithey? iiWhat iiare iithey iilike? iiDo
iiwe iiwant iito iidraw iidifferent iicustomers?
Company: iiWhat iiare iiour iistrengths iiand iiweaknesses? iiWhat iicustomer iibenefits iican
iiwe iiprovide?
Context: iiWhat iiis iihappening iiin iiour iiindustry iithat iimight iireshape iiour iifuture
iibusiness?
Collaborators: iiCan iiwe iiaddress iiour iicustomers' iineeds iiwhile iistrengthening iiour
iibusiness iito iibusiness ii(B2B) iipartnerships?
Competitors: iiWho iiare iithe iicompetitors iiwe iimust iiconsider? iiWhat iiare iitheir iilikely
iiactions iiand iireactions?
STP ii(expanded) ii- iiAnswers ii-Segmentation: iiCustomers iiaren't iiall iithe iisame; iithey
iivary iiin iitheir iipreferences, iineeds, iiand iiresources.
Targeting: iiAttracting iisome iiof iithose iicustomers iimakes iibetter iisense iithan iigoing iiafter
iiothers.
Positioning: iiCommunicate iiyour iibenefits iiclearly iito iiyour iiintended iicustomers.
4 iiP's ii(expanded) ii- iiAnswers ii-Product: iiWill iicustomers iiwant iiwhat iiyour iicompany iiis
iiprepared iito iiproduce?
Price: iiWill iicustomers iipay iiwhat iiyou iiwould iilike iito iicharge?
Place: iiWhere iiand iihow iiwill iicustomers iipurchase iiyour iimarket iioffering?
Promotion: iiWhat iican iiyou iitell iiyour iicustomers, iior iido iifor iithem, iito iientice iithem iito
iipurchase?
Customer iibehavior ii- iiAnswers ii-The iiway iicustomers iiselect, iipurchase, iiuse, iiand
iidispose iiof iigoods, iiservices, iiideas, iior iiexperiences iito iisatisfy iitheir iineeds iiand
iidesires
Business-to-customer ii(B2C) ii- iiAnswers ii-(Customer iiinvolvement: iilow) iiConvenience
iipurchases: iiStaples ii(standard, iifrequently iiconsumed iigoods iisuch iias iibread iior iigas)
iiand iiimpulse iipurchases ii(candy iior iiNational iiEnquirer iiavailable iinear iithe iicheck-out
iistand).
, (Customer iiinvolvement: iimoderate) iiShopping iipurchases: iiGoing iionline iito
iiCitysearch.com iito iifind iia iirestaurant iiand iimake iireservations iiwhen iiheading iiout iiof
iitown.
(Customer iiinvolvement: iihigh) iiSpecialty iipurchases: iiA iinew iicar, iifashion iishows, iian
iiexpensive iilaptop iicomputer.
Business-to-business ii(B2B) ii- iiAnswers ii-(Customer iiinvolvement: iilow) iiStraight iirebuy:
iiYou're iiout iiof iitoothpaste iiand iiyou iimindlessly iipop iia iitube iiof iiyour iiusual iibrand iiinto
iiyour iibasket.
(Customer iiinvolvement: iimoderate) iiModified iirebuy: iiYou iireach iifor iiyour iibrand iiof
iitoothpaste iibut iiyou iitry iia iinew iiflavor.
(Customer iiinvolvement: iihigh) iiNew iibuy: iiYou're iibuying iiteeth iiwhitening iistrips iifor iithe
iifirst iitime iiand iithink iiwhat iiattributes iimust iiyou iiconsider.
Types iiof iiShopping: iiCustomer iiInvolvement ii- iiAnswers ii-It's iinot iithe iitype iiof iiproduct
iior iipurchase iithat iimatters. iiIt's iithe iitype iiof iicustomer iibehavior ii(consumer iior
iibusiness iilevel iiof iiinvolvement) iithat iiis iirelevant iiand iithe iimarketing iiactions iiand
iireactions.
Customer iiinvolvement ii- iiAnswers ii-Low iicustomer iiinvolvement: iiCustomers iidon't iicare
iiand iiwon't iispend iitime iithinking iiabout iibrands. iiThey iiwill iitypically iibe iisomewhat iiprice
iisensitive.
Moderate iicustomer iiinvolvement: iiSome iieffort iiis iiexpended iiprior iito iipurchase iito
iiobtain iigood iivalue.
High iicustomer iiinvolvement: iiFor iiexpensive iipurchases, iibrand, iiuniqueness iiand
iiquality iimatter.
Buying iiProcess ii- iiAnswers ii-The iisteps iiconsumers iigo iithrough iiwhen iibuying iia
iiproduct iior iiservice
1. iiIdentify iineeds/wants
2. iiSearch iifor iialternative iisolutions
3. iiEvaluate iialternatives
4. iiPurchase
5. iiEvaluate iipost-purchase
Consumer iibuying ii- iiAnswers ii-People iibuying iisomething iifor iithemselves iior iitheir
iihousehold
Business iicustomer ii- iiAnswers ii-A iibusiness iicustomer iiis iian iiagent iibuying iisomething
iion iibehalf iiof iian iiorganization.
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