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 ...
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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