Mktg 3340 exam 3 Study guides, Class notes & Summaries

MKTG 3340 Besio Summer '18 Exam 2 Question and answers rated A+ 2024 New 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—...

MKTG 3340 - Exam #1 Complete Test 2024. What are the goals of marketing? - correct answer 1. Discover the needs and wants of prospective buyers 2. Satisfying these needs and wants through exchanges What is needed for marketing to occur? - correct answer 1. 2 or more parties with unsatisfied needs 2. A desire and ability on their part to have their needs satisfied 3. A way for the parties to communicate 4. Something to exchange The Four P's of Marketing (The Marketing Mix) - correct a...

EXAM 2 MKTG 3340 MORMANN FINAL EXAM STUDY QUESTIONS 2024. Segmentation - correct answer Aggregate consumers into groups that have similar needs and will react similarly to a marketing action Ways to Segment Consumer Markets (Segmentation Bases) - correct answer 1.Demographics 2. Psychographics 3.Behavioral 4. Geographic Pareto Principle - correct answer 80% of sales comes from 20% of costumers Behavioral (segment of consumer market) - correct answer Benefits Usage 80/20 Par...

Mktg Again 3340 Final Exam Study Questions 2024. 4 main classes of consumer products (Ch 10) and why it's important - correct answer 1 convenience (purchases frequently, conveniently, minimal effort) 2 shopping (compares alternatives on criteria like price and #) 3 specialties (makes special effort to search out and buy) 4 unsought (knows ab but does not initially want) important cuz the classification affects which products consumers buy and the mktg strategies used Difference ...

EXAM 2 MKTG 3340 MORMANN FINAL EXAM 2024. Segmentation - correct answer Aggregate consumers into groups that have similar needs and will react similarly to a marketing action Ways to Segment Consumer Markets (Segmentation Bases) - correct answer 1.Demographics 2. Psychographics 3.Behavioral 4. Geographic Pareto Principle - correct answer 80% of sales comes from 20% of costumers Behavioral (segment of consumer market) - correct answer Benefits Usage 80/20 Pareto Principle ...

MKTG 3340 EXAM 1 CorrectElements necessary in order for marketing to occur - ANSWER -2+ parties w/ unsatisfied needs (in order to have a marketing exchange) -DESIRE & ABILITY to satisfy those needs ("whats your budget?" - A way for the parties to COMMUNICATE - Something to exchange (that both parties agree is valuable) societal marketing concept - ANSWER calls upon marketers to balance 3 considerations in setting their marketing policies: - consumer wants & satisfaction -company profit...

MKTG 3340 EXAM 1 With 100% Correct Answers 2024. what is marketing? - correct answer the management process involved in identifying, anticipating, and satisfying customer wants profitably what are the 2 goals of marketing? - correct 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? - correct answer 1. two or more parties with unsa...

MKTG 3340 EXAM 1 Correct Questwhat 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 sati...

MKTG 3340 Orosy SMU Exam 2 (2 part) Questions and Answers Already Passed How does idea generation play a role in the new product development process it is stage 2 in the new product development process the new product development process stages 1. new product strategy development 2. idea generation 3. screening and evaluation 4. business analysis 5. development 6. market testing 7. commercialization defines the role of new products in terms of the firm's overall objectives. This stage utilize...

MKTG 3340 - Ch. 3 Prep Exam 2024. marketing environment - correct answer includes the actors and forces outside marketing that affect management's ability to build and maintain successful relationships with target customers macroenvironment - correct answer the larger societal forces that affect the microenvironment - demographic, economic, natural, technological, political, and cultural forces microenvironment - correct answer consists of the actors close to the company that affect its...