100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
USM MKT 300 Exam 1 Already Graded A+ $9.99   Add to cart

Exam (elaborations)

USM MKT 300 Exam 1 Already Graded A+

 8 views  0 purchase
  • Course
  • USM MKT 300 Exm 1 Already Graded A+
  • Institution
  • USM MKT 300 Exm 1 Already Graded A+

USM MKT 300 Exam 1 Already Graded A+ Core Aspects of Marketing ️1. Creating Value 2. Satisfying customer needs and wants 3. Affecting various stakeholders 4. can be performed by individuals or corporations 5. entails an exchange 6. requires 4 P's decisions Four P's ️Product, Pri...

[Show more]

Preview 2 out of 6  pages

  • September 27, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • USM MKT 300 Exm 1 Already Graded A+
  • USM MKT 300 Exm 1 Already Graded A+
avatar-seller
CertifiedGrades
USM MKT 300 Exam 1 Already Graded A+
Core Aspects of Marketing ✔️1. Creating Value

2. Satisfying

customer needs and wants

3. Affecting various stakeholders

4. can be performed by individuals or corporations

5. entails an exchange

6. requires 4 P's decisions



Four P's ✔️Product, Price, Place, Promotion



Product ✔️create value by developing a variety of offerings, including goods, services, and ideas, to
satisfy customer needs



Price ✔️Capturing value: Price is everything the buyer gives up—money, time, and/or energy—in
exchange for the product



Place ✔️Delivering Value:

place, represents all the activities necessary to get the product to the right customer when that
customer wants it



Promotion ✔️Communicating Value:

Promotion is communication by a marketer that informs, persuades, and reminds potential buyers
about a product or service to influence their opinions and elicit a response



Value ✔️reflects the relationship of benefits to costs, or what you get for what you give



CRM ✔️a business philosophy and set of strategies, programs, and systems that focus on identifying
and building loyalty among the firm's most valued customers

, Sustainable Competitive Advantage ✔️an advantage over the competition that is not easily copied and
can be maintained over a long period of time



Customer Excellence ✔️Focuses on retaining loyal customers and excellent customer service



Operational Excellence ✔️Achieved through efficient operations and excellent supply chain and human
resource management



Product Excellence ✔️Having products with high perceived value and effective branding and
positioning



Locational Excellence ✔️Having a good physical location and Internet presence



SWOT Analysis ✔️The segmentation strategy must be consistent with and derived from the firm's
mission and objectives as well as its current situation—its strengths, weaknesses, opportunities, and
threats



Strategic Planning Process ✔️3 Phases of planning



Planning Phase ✔️the part of the strategic marketing planning process when marketing executives, in
conjunction with other top managers define the mission or vision of the business and evaluate the
situation by assessing how various players, both in and outside the organization, affect the firm's
potential for success



Implementation Phase ✔️the part of the strategic, marketing planning process when marketing
managers identify and evaluate different opportunities by engaging in segmentation, targeting,
positioning, and implement the marketing mix using the four P's



Control Phase ✔️The part of the strategic marketing planning process when managers evaluate the
performance of the marketing strategy and take any necessary corrective actions

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller CertifiedGrades. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $9.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

83637 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$9.99
  • (0)
  Add to cart