Marketing 3340 test - Study guides, Class notes & Summaries

MKTG 3340 Ch. 7 DSM Pre-Test 2024. _________ is defined by consumers on important attributes — the place the product occupies in consumers' minds relative to competing products. A. A value proposition B. A positioning statement C. A product position D. Competitive advantage - correct answer C Which of the following is an example of psychographic segmentation? A. Climate B. Loyalty status C. Occupation D. Lifestyle - correct answer D Concentrated marketing refers to __________...

MKTG 3340 Test 1What is marketing? - correct answer marketing is a process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return five step marketing process model: step one - correct answer understand the marketplace and customer needs and wants five step marketing process model: step two - correct answer design a customer value-driven marketing strategy five step marketing process model: step three - cor...

MKTG 3340 Exam 3 Written Advanced Test 2024. How do intermediaries create value? - correct answer Transactional Function: buying/selling/risk taking Logistical Function: storing/assorting (mix of products)/sorting(lots of a single product)/bulk breaking(one large item broken down)/transporting Facilitating: financing/grading/marketing info and research We use intermediaries to: - correct answer make a product or service available by consumers or industrial use be more efficient: reduce # ...

MKTG 3340 Exam #2 STUDY GUIDE TEST 2024.. generate profitable Revenue - correct answer The purpose of marketing is to... B - correct answer Which statement is most likely true about idea generation in the new product development process? A. A company can either develop ideas through internal or external sources but not through both. B. Idea generation is usually followed by procedures that reduce the total number of ideas. C. Most companies set a limit for the number of ideas generated to...

MKTG 3340 Chapter 4 Final Exam Study Test 2024. Mktg info used to gain customer insight is of little value unless.. - correct answer it is used to make better marketing decisions What is true about customer insights? - correct answer Information to gain customer insights comes from a wide variety of sources. Marketing Info System (MIT) - correct answer People and procedures that are used to manage information to generate and validate actionable customer and market insights MIT utilize ...

MKTG 3340 Exam Correct Verified Answers 2024. generate profitable Revenue - correct answer The purpose of marketing is to... B - correct answer Which statement is most likely true about idea generation in the new product development process? A. A company can either develop ideas through internal or external sources but not through both. B. Idea generation is usually followed by procedures that reduce the total number of ideas. C. Most companies set a limit for the number of ideas generate...

MKTG 3340 CH. 2 Review Test Questions 2024. strategic planning - correct answer the process of developing and maintaining a strategic fit between the organization's goals and capabilities, and its changing marketing opportunities. first step in strategic planning - correct answer defining the company's mission second step in strategic planning - correct answer setting company objectives and goals third step in strategic planning - correct answer designing the business portfolio fo...

MKTG 3340 Besio Summer '18 Exam 2New Product - correct answer new to the world, new to the company, flankers (line extensions and brand extensions), require repositioning, model changes Why new products fail - correct answer poor planning and strategy, poor concept, poor execution, poor use of research, poor technology, poor timing, bad support from channel Why new products succeed - correct answer top-management commitment, start with the consumer—not the factory, intelligent use of re...

MKTG 3340 Test I Marketing - correct 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 Target Market - correct answer one or more specific groups of potential consumers toward which an organization directs its marketing program marketing mix (four Ps) - correct answer Product, Place, promotion and pricing Customer Value - correct answer the uniq...

MKTG 3340 Chapter 11 Study Guide Test 2024.IMC (Integrated Marketing Communications) vs Omnichannel Marketing - correct answer IMC: The concept of designing marketing communications programs that deliver a consistent message to a target audience, using different types of media. (Make sure message is consistent across channels and media vehicles) Omnichannel (Multichannel) Marketing: involves the blending of different communication and delivery channels that are MUTUALLY REINFORCING in...