Managerial marketing - Study guides, Class notes & Summaries

MBA 706 Exam 1 Study Guide with Complete Solutions. Chapter 1 – The Strategic Perspective • Relationship between strategy and change o Change is the only certainty o Change can be cyclical (predictable) or evolutionary (unpredictable) o Change is an integral part of strategy ■ What drives change? -PEST (political / economic / social / technological) ■ What impacts change? - volatility / globalization / competition / redefine ■ What are the consequences of change? - new opport...

What is the simple definition of marketing? - managing profitable customer relationships goals of marketing activity - 1. Attract new customers by promising superior value 2. Keep and grow current customers by delivering customer satisfaction Define Marketing - A social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. Simple Model of the Marketing Process - Create value for customers and bui...

1) Which of the following is NOT an accurate description of modern marketing? A) Marketing is the creation of value for customers. B) Marketing involves managing profitable customer relationships. C) Marketing emphasizes selling and advertising exclusively. D) Marketing involves satisfying customers' needs. E) Marketing is building value-laden exchange relationships with customers. Ans: C) Marketing emphasizes selling and advertising exclusively. 2) According to management guru Peter Dru...

What is Entrepreneurship? • Marketing and selling products. • Acquiring leadership and managerial skills. • Setting up a business with the aim to make a profit. • Quickly advancing in positions within a corporation • Setting up a business with the aim to make a profit. You need to create a legal structure for your small business. You would like some of the benefits enjoyed by large corporations , but do not want to be taxed twice. You have four partners who will be shareholders...

Marketing Mix correct answers four marketing activities- product, distribution, promotion, and pricing- that a firm can control to meet the needs of customers within its target market Target Market correct answers a specific group of customers on whom an organization focuses it marketing efforts Marketing Concept correct answers a managerial philosophy that an organization should try to satisfy customers' needs through a coordinated set of activities that also allows the organization to a...

Investment Cost of Marketing Entry Strategies correct answers Exporting Licensing Contract Manufacturing Joint Venture Equity Stake or Acquistion Licensing correct answers A contractual arrangement whereby one company (the licensor) makes a legally protected asset available to another company (the licensee) in exchange for royalties, license fees, or some other form of compensation. Contract manufacturing correct answers limited commitment of financial and managerial resources and quic...

CAFM Financial Management Question and answers already passed 2024/2025 CAFM Financial Management Define Accounting - correct answer The information system that identifies, records, and communicates the economic events of an organization to interested users. What are some uses of accounting information - correct answer Evaluate financial consequences Eliminate unsound judgement Monitor business operations Regulatory reasons such as taxes etc Define managerial accounting - co...

What is the simple definition of marketing? - Answer-managing profitable customer relationships goals of marketing activity - Answer-1. Attract new customers by promising superior value 2. Keep and grow current customers by delivering customer satisfaction Define Marketing - Answer-A social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. Simple Model of the Marketing Process - Answer-C...

MARKETING 3410Marketing Big Picture - correct answer To create value and satisfaction for customers and capture value in return. To retain long term, profitable relationships Marketing Process - correct answer Understand needs and wants Customer driven strategy Marketing program (4 Ps) Build relationships Create profits + cust. equity Define Marketing - correct answer Social and managerial process by which individuals and organizations obtain what they need and want through crea...

MARK 201 Exam 1 Study Guide - Multiple Choice Questions Graded A+ Which of the following statements about marketing is TRUE? a. Because marketing is complicated most firms avoid using it. b. Marketing is generally successful as long as you fund it, and most new products succeed. c. Marketing isn't always easy; thousands of new products fail each year. d. Marketing is fairly foolproof if you know and apply traditional formulas. c. Marketing isn't always easy; thousands of new products fai...