Customer orientation - Study guides, Class notes & Summaries

overall sacrifice a consumer is willing to make to acquire a specific product or service - price importance of price (seller) - price is revenue importance of price (consumer) - price is cost of something price allocates - resources in a free-market economy 5 C's of Pricing used to set price - 1. Company 2. Customers 3. Costs 4. Competition 5. Channel members (wholesale/resale) company orientations - -profit orientation -sales orientation -competitor orientation -customer ...

Test Bank Marketing Management, 3rd Edition Greg Marshall Mark Johnston Contemporary Marketing 3rd Edition – Test Bank Chapter 1—Marketing: The Art and Science of Satisfying Customers MULTIPLE CHOICE 1. What utility does Cannondale create when the company combines aluminum and other components in the production of bicycles? a. ownership utility b. form utility c. place utility d. time utility REF: 5 NOT: AACSB Reflective Thinking | TB&E Model Marketing Plan 2. When you purchase concert ticke...

Exchange correct answers - 2+ entities - the entities should have something of value Marketing Orientations and Philosophies correct answers 1. Production Orientation: focus on what you're good at; internal focus 2. Sales Orientation: aggressively selling 3. Market Orientation: how people are reacting; external focus 4. Societal Orientation: looks at customers, BUT looks more at bigger goals; greater good! Customer Value correct answers The unique combination of benefits receive...

MBA 706 Exam 1 Study Guide with Complete Solutions. Chapter 1 – The Strategic Perspective • Relationship between strategy and change o Change is the only certainty o Change can be cyclical (predictable) or evolutionary (unpredictable) o Change is an integral part of strategy ■ What drives change? -PEST (political / economic / social / technological) ■ What impacts change? - volatility / globalization / competition / redefine ■ What are the consequences of change? - new opport...

MARK 3321 Test 1 Review Ch 1-5 Latest Update Graded A+ Define Marketing: 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 The goal of marketing is: to create exchanges What activities are used to achieve exchanges? Price Product Place Promotion (the 4 Ps) Define exchange: People giving up something to receive something they would rather have. ...

MIE 201 Exam 4 Questions and Answers 100% Pass marketing - Correct Answer ️️ -group of activities designed to expedite transactions by creating, distributing, pricing, and promoting goods, services, and ideas functions of marketing - Correct Answer ️️ -buying, selling, transporting, storing, grading, financing, market research, risk taking exchange - Correct Answer ️️ -the act of giving up one thing (money, credit, labor, goods) in return for something else (goods, services, o...

UTA MARK-3321 Exam 1 Latest Update Graded A+ Marketing 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 Exchange people giving up something in order to receive something else they would rather have Exchange Conditions 1. There must be at least two parties. 2. Each party has something that might be of value to the other party. 3. Each party is c...

Activity-Based costing (ABC) Ans: A method of cost accounting designed to identify streams of activity and then to allocate costs across particular business processes according to the mount of time employees devote to particular activities Adapters Ans: Companies that take the current industry structure and its evolution as givens, and choose where to compete. Adverse impact Ans: When a seemingly neutral employment practice has a disproportionately negative effect on a protected group. Ad...

MBA 706 Exam 1 Study Guide with Complete Solutions. Chapter 1 – The Strategic Perspective • Relationship between strategy and change o Change is the only certainty o Change can be cyclical (predictable) or evolutionary (unpredictable) o Change is an integral part of strategy ■ What drives change? -PEST (political / economic / social / technological) ■ What impacts change? - volatility / globalization / competition / redefine ■ What are the consequences of change? - new opport...

MBA 706 Exam 1 Study Guide with Complete Solutions. Chapter 1 – The Strategic Perspective • Relationship between strategy and change o Change is the only certainty o Change can be cyclical (predictable) or evolutionary (unpredictable) o Change is an integral part of strategy ■ What drives change? -PEST (political / economic / social / technological) ■ What impacts change? - volatility / globalization / competition / redefine ■ What are the consequences of change? - new opport...