Mkt 320f exam 1 - Study guides, Class notes & Summaries

MKT 320F Unit 3 Exam Questions and Answers 100% Solved | Rated A+ Market - people or organizations with needs or wants and the ability and willingness to buy Market Segment - a subgroup of people or organizations sharing one or more characteristics that cause them to have similar product needs Market Segmentation - the process of dividing a market into meaningful, relatively similar, and identifiable segments or groups What are the four basic criteria for successful market segmentation? ...

Summarize and explain the purpose of marketing in the organization and the basic marketing concept Marketing has three key purposes: (1) to acquire customers, (2) retain those customers, and (3) incentivize those customers to become brand ambassadors and promote the brand to their sphere of influence. Distinguish among the four main firm orientations and their historical connections production, sales, marketing, and societal marketing Previous Play Next Rewind 10 seconds Mo...

Segmentation & Targeting Steps/Overview 1. Defining markets 2. Understanding dimensions to use 3. Identifying segments 4. Deciding on segments to target 5. Using segmentation approaches Differentiation & Positioning Steps/Overview 1. Understanding customer's views 2. Using positioning techniques 3. Evaluating segment preferences 4. Differentiating the marketing mix 5. Knowing relationship between Positioning & targeting Previous Play Next Rewind 10 seconds Move for...

MAN 320F EXAM 2 AROIAN Blue Ocean Strategy - Answer- strategy where it includes all industries not in existence, unknown market space going where the profits and growth is, not where the competition is Red Ocean Strategy - Answer- all industries in existence, the known mkt space industries never stand... - Answer- still strategic move - Answer- the set of managerial actions and decisions involved in making a major market-creating business offering with technology & globalization...