Mktg 181 exam 1 - Study guides, Class notes & Summaries

MKTG 181 Exam 1 Questions and Answers All Correct In marketing, the idea of exchange refers to a. the trade of things of value between buyer and seller so that each is better off after the trade b. the negotiation phase between the manufacturer and the seller c. the practice of swapping products and services for other products and services rather than for money d. the bartering of products and services between nongovernmental organizations or individuals - Answer-a. the trade of things of ...

MKTG 181 Exam #1 – Questions & Answers (100% Correct)

MKTG 181 Final Exam Questions and Answers All Correct Products - Answer-goods, service, or idea consisting of tangible and intangible attributes that satisfies consumers' needs in exchange for money or value services - Answer-intangible activities that an organization provides to satisfy consumer needs convivence products - Answer-items purcased frequently, conveniently shopping - Answer-several alternatives on criteria sch as price, quality, or style specialty - Answer-items that ...

MKTG 181 Midterm 2023 Exam Questions with All Correct Answers Marketing - Answer-The acting for creating, communicating, and exchanging offerings that benefit its customers, the organization, its stakeholders, and society at large. Exchange - Answer-The trade of things of value between a buyer and a seller so that each is better off after the trade. Diverse Elements Influencing marketing actions: Environmental forces: Social, Economic, Technological, Competitive, Regulatory. - Answer-F...

MKTG 181 Midterm Exam Questions and Answers All Correct Marketing seeks to: - Answer-1. Discover needs and wants of customers 2. Satisfy them What is needed for marketing to occur? - Answer-1. Two or more parties with unsatisfied needs 2. Desire and ability to be satisfied 3. A way for the parties to communicate 4. Something to exchange Product strategy - Answer-features, brand name, packaging, service, warranty Place strategy - Answer-- place=distribution - outlets, channels, co...

MKTG 181 Final Exam 2023 Questions with Correct Answers Product - Answer-A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value Consumer products - Answer-Products purchased by the ultimate consumer Business products - Answer-Also called B2B products or industrial products, are products organizations buy that assist in providing other products for resale 4 T...

MKTG 181 2023 Exam Questions with Correct Answers What is marketing? - Answer--an art and science -seeks to discover needs and wants of customers -AND satisfy those needs and wants coke example - Answer--coke created a new, sweeter formula and named it New Coke -coke spent over 4 mil researching the new product -according to research and blind taste tests, customers liked new coke formula better -coke decided to launch the new product and it had horrible backlash -coke failed to ackno...