Mktg 3340 test 1 - Study guides, Class notes & Summaries

Marketing correct answersA process by which companies create value for customers and build strong relationships in order to capture value from customers Needs correct answersstates of felt deprivation Wants correct answersThe form human needs take as shaped by culture and personality Demands correct answersHuman wants backed by buying power Market Offerings correct answersA combination of products, services, info, or experiences offered to a market to satisfy a want or need Market...

MKTG 3340 Test 1What is marketing? - correct answer marketing is a process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return five step marketing process model: step one - correct answer understand the marketplace and customer needs and wants five step marketing process model: step two - correct answer design a customer value-driven marketing strategy five step marketing process model: step three - cor...

definition of marketing - two definitions: 1. process by which individuals and groups obtain what they need and want through creating, offering, and exchanging products of value with others (Philip Kotler) 2. Marketing is so basic that it cannot be considered a separate function. It is the whole business seen from the point of view of its final result, that is, from the customer's point of view (Peter Drucker) five core concepts - 1. needs, wants, and demands 2. products and servic...

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Marketing - A process by which companies create value for customers and build strong relationships in order to capture value from customers Needs - states of felt deprivation Wants - The form human needs take as shaped by culture and personality Demands - Human wants backed by buying power Market Offerings - A combination of products, services, info, or experiences offered to a market to satisfy a want or need Marketing Myopia - Paying more attention to the produ...

MKTG 3340 Test 1

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MKTG 3340 Test 1 with correct solutions