Marketing 3340 stuvia Study guides, Class notes & Summaries

Value - ANSWER Perceived Benefits/Price Value Pricing - ANSWER The practice of simultaneously increasing product and service benefits and maintaining or decreasing price Costs - ANSWER Psychological Temporal Monetary Psychological Costs - ANSWER Mental Energy and stress involved in making purchases and accepting product risks Temporal Costs - ANSWER Time spent purchasing products and services Monetary Costs - ANSWER Money spent to receive products and services Benefits - ANSW...

Population - ANSWER A population is all cases that meet designated specifications for membership in the group Census - ANSWER A census is defined as an accounting of everyone in the population. Defining the Target Population - ANSWER Researchers must be very clear and precise in defining the target population Example: Households in the city limits of Richardson, TX, with one or more children under the age of 18 living at home Sample - ANSWER A sample is a subset of the population that ...

MKTG 3340 Test 1 Orosy Terms with Complete SolutionsMKTG 3340 Test 1 Orosy Terms with Complete SolutionsMKTG 3340 Test 1 Orosy Terms with Complete SolutionsMKTG 3340 Test 1 Orosy Terms with Complete SolutionsMKTG 3340 Test 1 Orosy Terms with Complete Solutions Marketing - ANSWER-A process by which companies create value for customers and build strong relationships in order to capture value from customers Needs - ANSWER-states of felt deprivation Wants - ANSWER-The form human needs tak...

First step in creating a nonprofit marketing strategy - ANSWER defining who it is you are trying to reach the general public includes - ANSWER everyone to define your audience, first you need - ANSWER to recognize that most nonprofits have multiple audiences second step in creating a nonprofit marketing strategy - ANSWER segment the audiences you are trying to reach by defining what ties the people in the group together (values, needs, attitudes, etc.) and further into personas (charact...

Role of Marketing - ANSWER-marketing is engaging customers and managing profitable customer relationships. the aim of marketing is to create value for customers in order to capture value from customers in return goal: attract new customers by promising superior value and to keep and grow current customers by delivering value and satisfaction marketing is selling and advertising but also satisfying customer needs. the aim of marketing is to make selling unnecessary. engage consumers effecti...

MKTG 3340 Quiz 1 with Complete Solutions MKTG 3340 Quiz 1 with Complete Solutions MKTG 3340 Quiz 1 with Complete Solutions Marketing - ANSWER-Delivery of customer satisfaction at a profit Goals of marketing - ANSWER-Attract new customers with value and keep current customers with satisfaction Requirements for Marketing - ANSWER-Two or more parties with unsatisfied needs Desire and ability to satisfy needs

Formal definition of Marketing - ANSWER process of planning and executing the conception, pricing, promotion, and distribution of stuff to create exchanges that satisfy people The goal of marketing is - ANSWER exchange exchange - ANSWER people giving up something to receive something they would rather have What is the 4 P's of marketing - ANSWER price: exchanging value Place/ Distribution: Delivering value Promotion: communicating value Product: creating value Customer Value - AN...

Marketing - ANSWER the process of planning and executing the conception, pricing, promotion, and distribution of stuff to create exchanges that satisfy people. Exchange - ANSWER people giving up something to receive something they would rather have What is marketing? (in relation to value) - ANSWER 1. Creating Value (product) 2. Exchanging value (price) 3. Communicating value (promotion) 4. Delivering value (place) customer value - ANSWER the relationship between benefits and the sac...

MKTG 3340 Quiz 1 (Chapters 1 and 2) with Complete SolutionsMKTG 3340 Quiz 1 (Chapters 1 and 2) with Complete SolutionsMKTG 3340 Quiz 1 (Chapters 1 and 2) with Complete SolutionsMKTG 3340 Quiz 1 (Chapters 1 and 2) with Complete Solutions discover, satisfy - goals of marketing - ANSWER-_______ needs and wants of customers and _______ them

what is marketing? - ANSWER-the management process involved in identifying, anticipating, and satisfying customer wants profitably what are the 2 goals of marketing? - ANSWER-1. discover (assess) the needs and wants of prospective customers 2. satisfy these needs & wants through EXCHANGE (each are better off after exchange) what are the 4 requirements for marketing to occur? - ANSWER-1. two or more parties with unsatisfied needs 2. desire and ability to satisfy those needs 3. a way for ...