Buad 332 exam 4 - Study guides, Class notes & Summaries

BUAD 332- Moon- EXAM 1 Questions with Complete Solutions 100% Verified What is the simple definition of marketing? - Correct Answers managing profitable customer relationships goals of marketing activity - Correct Answers 1. Attract new customers by promising superior value 2. Keep and grow current customers by delivering customer satisfaction Define Marketing - Correct Answers A social and managerial process by which individuals and groups obtain what they need and want through creating...

BUAD 332 EXAM QUESTIONS WITH CORRECT DETAILED ANSWERS LATEST UPDATE value proposition - Answer-the set of benefits or values that a company promises to deliver to consumers to satisfy their needs EX: what does BMW offer its customers? what else do marketing managers do? - Answer-once they decide who the target market is, and what the value proposition should be, they have to figure out how to execute their marketing strategy how do marketing managers execute this marketing strategy? - ...

BUAD 332 MOON EXAM 2 CERTIFICATION QUESTIONS WITH ALL CORRECT ANSWERS GRADED A+ Marketing Intermediaries - Answer-help the company promote, sell, and distribute its products to final buyers -resellers (amazon) -physical distribution firms (fedex) -marketing services agencies (Tombras) -financial intermediaries (TVA credit union) Customers - Answer-five types of markets that purchase a company's good sand services 1. consumer markets 2. business markets 3. reseller markets 4. gove...

BUAD 332 EXAM 1 TEST BANK QUESTIONS WITH ALL CORRECT ANSWERS what is a macro environment? - Answer-- Larger societal forces that affect the microenvironment - to understand the changing market opportunities Who are actors in the microenvironment? - Answer-the company, suppliers, marketing intermediaries, customers, competitors, and publics who are market intermediaries? - Answer-help the company to promote, sell, and distribute its goods to final buyers What are the 5 types of market...

Kola, a leading soft drink manufacturer, has recently forayed into the Middle East markets. Based on its research that Middle East consumers prefer sweeter drinks, it is manufacturing soft drinks with extra sugar to meet local requirements. Kola is using the___ strategy to market its product A. communication adaptation B. product pioneering C. product adaptation D. product invention E. straight product extension - Answer c. product adaptation which of the following is most likely true a...

Direct Marketing - Answer Connecting directly with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships New Direct-Marketing Model - Answer 1. Direct marketing has undergone a dramatic transformation. 2. Most firms use direct marketing as a supplemental channel or medium. 3. For many companies, direct marketing constitutes a new and complete model for doing business. 4. Some firms employ the direct model as their ONLY ap...

Forecast - Answer an educated guess or prediction of what might happen in the future you can count on it being wrong! S&OP - Answer Sales and Operations Planning - goal is to balance supply and demand Capacity Forecast - Answer What are we capable of producing? A GUESS - RISK! Demand Forecast - Answer A projection into the future of expected demand, given a stated set of assumptions RISK! Demand - Answer what customers would buy if they could - UNCONSTRAINED DEMAND AKA Not constrained b...

Forecast - Answer an educated guess or prediction of what might happen in the future you can count on it being wrong! S&OP - Answer Sales and Operations Planning - goal is to balance supply and demand Capacity Forecast - Answer What are we capable of producing? A GUESS - RISK! Demand Forecast - Answer A projection into the future of expected demand, given a stated set of assumptions RISK! Demand - Answer what customers would buy if they could - UNCONSTRAINED DEMAND AKA Not constrained b...