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MKT-300 exam 1 UA All Answers Correct

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  • MKT-300 Exm 1 UA A

MKT-300 exam 1 UA All Answers Correct Marketing ️The process of creating, pricing, distributing, and promoting goods, services, and ideas to: -Facilitate satisfying relationships with customers. -Develop and maintain favorable relationships with stakeholders in a dynamic environment. Customer...

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  • September 27, 2024
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  • 2024/2025
  • Exam (elaborations)
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  • MKT-300 exm 1 UA A
  • MKT-300 exm 1 UA A
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MKT-300 exam 1 UA All Answers Correct
Marketing ✔️The process of creating, pricing, distributing, and promoting goods, services, and ideas to:



-Facilitate satisfying relationships with customers.



-Develop and maintain favorable relationships with stakeholders in a dynamic environment.



Customers: ✔️The purchasers of organizations' products.



-Focal point of all marketing activities.



Target market: ✔️A specific group of customers of whom an organization focuses on marketing to.



Marketing mix: ✔️Product, Pricing, Place (Distribution), Promotion.



-Developed and controlled by the firm.



-Objective is to meet the needs of customers within its target market product.



Product:

Goods:

Services:

Ideas: ✔️-A good, service, or idea.

-Tangible

-Intangible customer benefits.

-Concepts, philosophies, and issues. (Deals with researching customers' needs and wants and designing
a product that satisfies them).

, Product: ✔️Involves creating and modifying:

-Brand names

-Packaging

-Product itself



Distribution: ✔️Ensuring availability of products in desired quantities to maximum number of target-
market customers as possible.



Distribution aims to keep costs low for: ✔️-Inventory

-Transportation

-Storage



Distribution ensure availability of products: ✔️-At the right time

-At appropriate locations



Promotion: ✔️Activities used to inform and persuade to create a desired response.



Promotion purpose: ✔️-Increase public awareness of organization and its products.

-Educate customers about product features.

-Help sustain interest in established products.

-Urge people to take a stance on a political or social issue.



Price: ✔️Helps establish value.



Price is: ✔️-A critical component of the marketing mix.

-Used as a competitive tool to establish image.

The most flexible marketing-mix variable.



Price X Quantity sold =

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