Marketing 3010 - Study guides, Class notes & Summaries

Marketing the activity, set of institutions, and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large Marketing plan Written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four Ps, action programs, and projected or pro forma income (and other financial) statements...

Marketing 3010 Chapter 1 Exam Questions and Answers

Marketing 3010 exam 2 Amanda Cooper Fine questions & answers 2023/2024 Steps in Segmentation, Targeting, and Positioning process - ANSWER-Step 1: Establish the strategy or objectives Step 2: Use segmentation methods Step 3: Evaluate Segmentation Attractiveness Step 4: Select target market Step 5: identify & Develop positioning strategy What is important when establishing overall strategy (step 1 of STP) - ANSWER-The step that clearly articulates the market strategy of the company to...

Value - ANSWER The benefit a customer receives from buying a good or service. Marketing - ANSWER The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Stakeholders - ANSWER Buyers, sellers, and investors in a company, community residents, and even citizens of the nations where goods and services are made or sold-in other words, any person or organization that...

Marketing 3010 Exam 3 Questions and Answers

why do firms create new products? - Answer changing customer needs market saturation managing risk through diversity fashion cycles improving business relationships what is the diffusion of innovation - Answer the process by which innovation spreads time of adaptation of the innovation factors affecting product diffusion - Answer compatibility, observability, trial ability, relative advantage compatibility - Answer compatible with other products in the market, integrates ...

Value - Answer The benefit a customer receives from buying a good or service. Marketing - Answer The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Stakeholders - Answer Buyers, sellers, and investors in a company, community residents, and even citizens of the nations where goods and services are made or sold-in other words, any person or organizatio...

Marketing -Answer the activity, set of institutions, and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large Marketing plan -Answer Written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four Ps, action programs, and projected or pro forma income (and other finan...

geographic segmentation -Answer the grouping of consumers on the basis of where they live demographic segmentation -Answer the grouping of consumers according to easily measured, objective characteristics such as age, gender, income, and education psychographics -Answer used in segmentation; delves into how consumers describe themselves; allows people to describe themselves using those characteristics that help them choose how they occupy their time (behavior) and what underlyi...

Marketing - Answer A process by which companies create value for customers and build strong customer relationships to capture value from customers Value - Answer Relationship between a consumer's perceived benefits in relation to the perceived costs of receiving these benefits Perceived value - Answer Benefits - Costs Value proposition - Answer Set of benefits or values that you can deliver to customers to satisfy their needs Fixed costs - Answer Costs that remain constant...