Si Chen Exam 1 MBA 706 Questions and Answers (Graded A)
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Si Chen MBA 706
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Si Chen MBA 706
Si Chen Exam 1 MBA 706 Questions and Answers (Graded A)Si Chen Exam 1 MBA 706 Questions and Answers (Graded A)Si Chen Exam 1 MBA 706 Questions and Answers (Graded A)Si Chen Exam 1 MBA 706 Questions and Answers (Graded A)Si Chen Exam 1 MBA 706 Questions and Answers (Graded A)
What is Marketing? (li...
What is Marketing? (list 6) - ANSWER-- marketing helps create value
- marketing satisfies customer needs and wants
- marketing entails an exchange
- marketing requires decisions on the 4ps
- marketing can be performed by individuals & organizations
- marketing occurs in different settings
What is the AMA definition of marketing? - ANSWER-Marketing is the activity,
set of institutions, and processes for creating, communicating, delivering,
and exchanging offerings that have value for customers, clients, partners,
and society at large.
What is Professor Philip Kotler definition of marketing? - ANSWER-Marketing
is:
,To create, to communicate, and to deliver value to a target market at a profit
_______ are the tools that firms can use/manipulate to achieve their goals and
are the foundation of the marketing framework - ANSWER-traditional 4ps
list some examples of additional 4ps - ANSWER-personnel, personality of a
store/brand
people--> employees
physical evidence --> inside the store
Process Management --) shopping experience
CCDVTP Stands for - ANSWER-This is Professors Philip Kotler definition of
marketing
which stands for
Create, Communicate, and Deliver Value to a target market at a Profit
Create Value = product management
Communicate Value = Brand Management
Deliver Value = Customer Management
, What is the traditionally Marketing Mix? (ORDER IS IMPOTANT ) - ANSWER-
The 4Ps, with product being first and the most important
- Product
- Price
- Place
- Promotion
Marketing entails an exchange of what? - ANSWER-Money, goods,
information
what does the external environment influence ? - ANSWER-consumer
behavior, firms decisions on P4, and firm's performance and competitors
profitability
The marketing mix is influenced by - ANSWER-the external
environment(political, environment, social and technological), consumers
and competitors
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