Buad 332 exam 1 - Study guides, Class notes & Summaries

A "state of deprivation" is the definition of a: A. Want B. Value C. Need D. Demand E. Exchange - Answer- C. Need George has come into some money. He now has the financial resources to purchase a new set of skis he's been dreaming about. For George, those skis have suddenly gone from being a _______ to being ___________. A. Need; want B. Want; demand C. Demand; want D. None of the above - Answer- B. Want; demand Once marketing managers choose their marketing strategy, they ...

Buad 332 Exam 1 questions with correct answers graded A+ passed

BUAD 332 Exam 1 MOON With Complete Solutions Latest Upload

Customer value - Answer-the customers perception of what they want to have happen in a specific use situation, with the help of a product or service, in order to accomplish a desired purpose or goal. customer satisfaction customer value - Answer-= performance =importance 5 key aspects of customer value - Answer-1. tradeoff of benefits and sacrifices 2. interaction of both customer and product 3. Relative to competitors, individuals, and situations 4. goal driven by customers desired attr...

In BCG approach, ________ are high-share, high-growth businesses or products. They need heavy investment to finance rapid growth and fend off competition. When their growth slows down, they often turn into ___________ . A) Dogs; cash cows B) Question marks; dogs C) Stars; Cash cows D) Cash cows; stars E) none of the above - Answer- C) Stars; Cash cows It is ____________ to keep a customer, than it is to get a new one. A) Cheaper B) More expensive C) Faster D) Both B and C ar...

Marketing - Answer-managing profitable customer relationships Goals of Marketing - Answer-1. Attract new customers by promising superior value 2. Keep and grow current customers by delivering customer satisfaction Need - Answer-state of felt deprivation (physical, social, individual) Want - Answer-a form that a human need takes as shaped by culture, individual personality, and marketers Demand - Answer-wants + buying power Market - Answer-the set of all actual and potential buyers of a pr...

Marketing - ️️managing profitable customer relationships Goals of Marketing - ️️1. Attract new customers by promising superior value 2. Keep and grow current customers by delivering customer satisfaction Need - ️️state of felt deprivation (physical, social, individual) Want - ️️a form that a human need takes as shaped by culture, individual personality, and marketers Demand - ️️wants + buying power Market - ️️the set of all actual and potential buyers of a...

What is included in a broad definition of marketing? - Answer- Creating customer value, building customer relationships, and engaging customers The first step of the marketing process is to - Answer- understand the marketplace, which includes customer needs and wants. Marketing is the process by which companies ________ and build strong customer relationships in order to ________ - Answer- create value for customers; capture value from customers in return The marketing process involves ...

Questions Managers Ask - What is important to cust? How do we know if we are delivering value? How do i judge whether we are offering superior value relative to our customers? Satisfied customer relationships are more likely to be ____ and ______ - loyal and give larger share of business Customer Value - customer's perception of what they want to have happen in a specific use situation, with the help of a product or service, in order to accomplish a desired purpose or goal. customer value...

BUAD 332 Exam 1 Questions And Answers With Verified Solutions