Marketing 301 exam 1 - Study guides, Class notes & Summaries

COM4808 ASSIGNMENT 4 EXAM PORTFOLIO (ANSWER SOLUTIONS) Assignment 04 (EXAMINATION PORTFOLIO) ASSIGNMENT 04 – EXAMINATION PORTFOLIO o No extensions of the due date will be granted as this is an examination portfolio. o The submission of the examination portfolio is compulsory. o The following assignment is your examination portfolio. To ensure that a brand is built in a consistent manner in the new marketing era, the elements of the IMC mix should be implemented to guarantee consist...

State of deprivation (phys: food, warmth, safety; social: belonging, affection; individual: knowledge, self-expression) correct answers Need Form that needs take as they are shaped by culture and individual personality correct answers Want Wants backed by buying power correct answers Demand Goal of any business. correct answers Stay in business/Maximize revenue/Market share Why is marketing extra important? correct answers Only major whose sole purpose/reason for being is revenue. Al...

State of deprivation (phys: food, warmth, safety; social: belonging, affection; individual: knowledge, self-expression) correct answers Need Form that needs take as they are shaped by culture and individual personality correct answers Want Wants backed by buying power correct answers Demand Goal of any business. correct answers Stay in business/Maximize revenue/Market share Why is marketing extra important? correct answers Only major whose sole purpose/reason for being is revenue. Al...

MKT 301 - Marketing Management Exam 1, 2, 3 all in one (Pomirleanu) UNLV

Marketing 301 Exam 1 Notes Ch 1-5 The Pennsylvania Marketing 301 Exam 1 Notes: Chapter 1: What is marketing?  Marketing - providing something of value to customers and societies through various techniques such as creating, communicating, delivering, and exchanging offerings Marketing = mixture of both science and art 5 Core Customer & Marketplace Needs:  Needs, Wants, & Demand  Market Offerings  Value & Satisfaction  Exchanges and relationships  Markets Need = State of...

What is Marketing? - Answer A social and managerial process involving managing profitable customer relationships; the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. The 4 P's of Marketing - Answer 1. What do potential customers need/want? PRODUCT 2. How much would we ask customers to pay? PRICE 3. How will we get it to the customers? PLACE/DISTRIBUTION 4. How will we communicate with the cus...

Systematic error (bias) - Answer An error of fixed amount that occurs consistently/regularly. Random error - Answer Factors that occur randomly and impact an observation/measurement. Valid - Answer No systematic or random errors Reliable - Answer When there are no random errors Marketing research - Answer Process of defining a marketing problem and opportunity, systematically collecting and analyzing information, and recommending actions Ways to obtain information - Answer -Survey...

Marketing Concept - Answer achieving organizational goals depends on knowing the needs and wants of target markets Steps: Market Customer Needs Integrated marketing (4 P's) Profits through customer satisfaction Selling concept - Answer The idea that customers won't buy enough of the products unless firm undertakes a large-scale selling and promotion effect Steps: Factory Existing products Selling and promoting Profits through sales volume Production concept - Answer the idea ...

Marketing - Answer The activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders, and society at large Requirements for Marketing to Occur - Answer - Parties with unsatisfied needs - A desire and ability to be satisfied - A way for the parties to communicate - Something to exchange How Marketing Satisfies Consumer Needs - Answer 4 P's 4 P's - Answer - Product - Price - Place - Promotion Target Market - Answer C...