4 ps of the marketing mix - Study guides, Class notes & Summaries

MARKETING 3023 UCF EXAM 1 RATED 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. Marketing Plan A written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four Ps, action programs, and projected or pro forma income (...

Revenue Management Final Exam | Latest 2023 with complete solution What is the industry term used to describe the sum of prices paid by a business's customers? - Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - Profit = Sales - Costs What is the name for the net value achieved by both parties in a business transaction? - Profit What elem...

Which scenario represents personal selling? - The marketing department uses the four Ps to determine the brand message. - A customer orders a product online using a website. - A customer goes to a pet store and discusses the best type of turtle food with a salesperson. - The marketing team collaborates with the sales organization to develop appropriate tools for advertising. - answerA customer goes to a pet store and discusses the best type of turtle food with the sales person Business...

Chapter 5 Consumer Markets and Buyer Behavior 1) Individuals and households that buy or acquire goods and services for personal consumption make up the . A) consumer market B) market offering C) market mix D) subculture E) social class Answer: A Skill: Concept Objective: LO 5.1: Define the consumer market and construct a simple model of consumer buyer behavior. Difficulty: Easy 2) Marketing stimuli include which of the following? A) economic stimuli B) price stimuli C) technologi...

what is the industry term used to describe the sum of prices paid by a business's customers? -daily receipts -profit -profits less expenses -total revenues -total revenues historically, what concept have hospitality managers chiefly used to calculate their selling prices? -income -revenue -costs -profits -costs what is an algebraic equivalent of the formula: sales=costs+profit? -profit=sales-costs -costs=sales+profits -costs=profit-sales -prof...

MFT: MBA QUESTIONS AND ANSWERS ALREADY PASSED The focal point of all marketing activities is customers The marketing mix is known by what other name? the four Ps Goods, services, or ideas offered in the exchange with customers are dealt with under the _____ category of the marketing mix product Making the product available to the customer in the right quantities and locations when the customer wants them is the definition for which of these marketing mix variable? place Many ...

What is marketing? correct answers The American Marketing Association (AMA) states that "marketing is the activity, set of institutions, and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large." Who's the AMA? correct answers The American Marketing Association (AMA) What are the four Ps/marketing mix? correct answers Product, Price, Place, Promotion (this is correct order) The fo...

MKT 320F Unit 3 Latest Update Graded A+ What is the purpose of a "marketing plan"? A marketing plan outlines the strategies and actions a company will take to achieve its marketing objectives, including target markets, tactics, and budget. How does "consumer decision-making process" impact marketing strategies? The consumer decision-making process impacts marketing strategies by providing insights into how customers make purchasing decisions, allowing marketers to tailor their...

UCF MAR 3023 Exam 1 Review Latest Update Graded A+ Marketing An organizational function and a set of processes for creating, capturing, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. Marketing Plan A written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four Ps,...

Brand ANSWER: A name, term, sign, symbol, or design, or a combination of them, intended to identify the goods and services of one seller or group of sellers and to differentiate them from those of [the] competition Marketing Mix (4 Ps) ANSWER: 1. Product 2. Price 3. Place 4. Promotion Product ANSWER: Anything we can offer to a market for attention, acquisition, use, or consumption that might satisfy a need or want Marketing Strategy ANSWER: Marketing Strategy = 4Ps + Target M...