Mkt 300 eaton exam 4 asu - Study guides, Class notes & Summaries

What is price? - Answer-- The value that you exchange for getting the goods/service - Could be money or something else Marketing Objectives - Answer-- maximize profits - gain market share - infer a level of quality - survive External Factors of Price - Answer-1. Demand for product 2. Competition - competitor prices - strength of competition 3. Economy - cost of components - Economic conditions Profit -Oriented - Answer-- profit maximization - satisfactory products - ret...

MKT 300 Eaton ASU Exam 1 Guaranteed A+ What is Marketing? ️An organizational function and a collection of processes designed to plan for, create, communicate and deliver value to custoemrs and build effective customer relationships in ways that benefit the organization and its stakeholders. Marketing is about: ️Creating Exchanges Identity Connections Relationships Solving Customer Problems What are the 4 P's of Marketing ️Product Price Promotion Place (Distribtuion...

Internal/External Factors of Price - Answer-Internal Factors of Price: 1. Marketing Objective 2. Marketing Mix Strategy 3. Cost External Factors of Price: 1. Demand for your product. 2. Competition 3. Economy Price Elasticity - Answer-Elastic - Consumers buy more or less of a product when the price changes Inelastic- An increase or decrease in price will not significantly affect demand What happens to price/revenue when the demand is elastic/inelastic - Answer-Demand is... Pr...

price - Answer-the value that you exchange for the benefits of having or using the product/service value = - Answer-benefits - costs internal factors on pricing decisions - Answer-marketing objectives, marketing mix strategy, costs marketing objectives - Answer-to maximize profit to gain market share to infer a level of quality to survive marketing mix strategy - Answer-Price needs to be consistent with other 3P's (needs to reflect advertising, etc.) costs - Answer-your costs ...

MARKETING / MKT 300 Eaton ASU Exam 4

MKT 300 / MKT 300 Eaton ASU Exam 4

MKT 300 / MKT 300 Eaton ASU Exam 1