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MKT 415 Exam 1 Review Verified Answers

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MKT 415 Exam 1 Review Verified Answers Business Markets ️The markets for products and services, local to international, bought by businesses, government bodies and institutions for incorporation, for consumption, or for use Entering Good ️- Raw material - Component part Foundation Good ...

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  • September 27, 2024
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  • 2024/2025
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  • MKT 415 Exm 1
  • MKT 415 Exm 1
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MKT 415 Exam 1 Review Verified Answers
Business Markets ✔️The markets for products and services, local to international, bought by
businesses, government bodies and institutions for incorporation, for consumption, or for use



Entering Good ✔️- Raw material

- Component part



Foundation Good ✔️- Capital

- Accessory equipment



Facilitating goods/services ✔️A good/service that helps get the job done



Are aircrafts a foundation or facilitating good? ✔️They can be considered as both



What to consider when finding an intended customer? ✔️1. Understand the importance of our good/
service relative to other goods

2. What is our indented user purpose

3. Who is our intended user

4. How do we create value for our customers



B2B Structure ✔️Purchased goods for a business, typically for resale



Examples:

1. General Electric

2. Quality Mill Supply Co. Inc

3. Amazon

, B2C Structure ✔️Direct selling model to sell to the end-users or customers. These businesses will work
closely with suppliers to buy an array of products based on client needs



Examples:

1. Netflix

2. Spotify

3. Philips Electronics.



Keys for Business Marketing Managers ✔️- Demonstrate impact of marketing expenditures on firm
value

- Understand customer decision

- Engage with customers and customers' customers

- Align strategy and sales

- Shaping a company's innovative agenda



Customer value proposition ✔️The proposition that captures the particular set of benefits that a
supplier offers to advance the performance of the customer organization.



Includes

- Points of parity

- Points of difference



Key buying influentials ✔️Influentials who have power in the buying process



Relationship Marketing ✔️Centers on all marketing activities directed towards establishing, developing,
and maintaining successful exchanging with customers



develop and maintain relationship ---> Usage of effort and research



Users: ✔️Purchase industrial products or services to produce other goods and service

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