Buad 332 - Study guides, Class notes & Summaries

BUAD 332 Exam 3 Questions with Complete Solutions price (narrow definition) - Correct Answers amount of money charged for a product or service price (broad definition) - Correct Answers sum of all values that customers exchange for the benefits of having or using the product or service internal factors affecting price decisions - Correct Answers - marketing objectives - marketing mix strategies - costs - organizational considerations external factors affecting price decisions - Corr...

Direct Marketing - Answer-Connecting directly with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships New Direct-Marketing Model - Answer-1. Direct marketing has undergone a dramatic transformation. 2. Most firms use direct marketing as a supplemental channel or medium. 3. For many companies, direct marketing constitutes a new and complete model for doing business. 4. Some firms employ the direct model as their ONLY appr...

All of the following are accurate reasons which draw a company into the international arena, except which one? a.) to combat saturation of domestic markets, firms go overseas. b.) companies pursue international markets for higher profit opportunities. c.) companies go overseas to enlarge their customer database in order to achieve economies of scale. d.) companies do not want to reduce their dependence on any one market so as to reduce risks. e.) all of the above are reasons that companies...

1. New product ideas come from ____. a. internal sources, using company R&D b. external sources, listening to distributors and suppliers c. external sources, watching and listening to customers d. Both A and C e. All of the above are source of new product ideas - Answer-e. All of the above are source of new product ideas. Frequent purchases, little planning, low customer involvement, low prices, widespread distribution, and convenient locations are characteristics of ____. a. shopping p...

During the _____ step of the selling process, the salesperson tells the "product story" to the buyer, highlighting customer benefits. A. Prospecting B. Presentation C. Qualifying D. Follow-up - B. Presentation You see mcdonalds, subway, jiffy lube, and holiday inn everywhere. these stores are examples of contractual associations, aka: A. factory outlet stores B. wholesale clubs C. corporate chains D. franchises - D. franchises A & are best described as __ that sell products & serv...

what are some factors that are changing the face of marketing communications? - Answer- - consumers are differently/better informed and more communications empowered - mass markets have fragmented, leading to a shift away from mass marketing - changes in communications technology have created new media for interacting with targeted consumers what are firms doing as a response to this changing environment? - Answer- - less broadcasting and more narrowcasting - granular audience - smaller ...

What is direct marketing? - Answer- connecting directly with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships what are some forms of direct marketing? - Answer- - face-to-face selling (special type of direct marketing) - direct-mail marketing - catalog marketing - telemarketing - direct-response television marketing - kiosk marketing - new digital technologies - online marketing define direct mail marketing - A...

BUAD 332- Moon- EXAM 1 Questions with Complete Solutions 100% Verified What is the simple definition of marketing? - Correct Answers managing profitable customer relationships goals of marketing activity - Correct Answers 1. Attract new customers by promising superior value 2. Keep and grow current customers by delivering customer satisfaction Define Marketing - Correct Answers A social and managerial process by which individuals and groups obtain what they need and want through creating...

Kola, a leading soft drink manufacturer, has recently forayed into the Middle East markets. Based on its research that Middle East consumers prefer sweeter drinks, it is manufacturing soft drinks with extra sugar to meet local requirements. Kola is using the___ strategy to market its product A. communication adaptation B. product pioneering C. product adaptation D. product invention E. straight product extension - Answer-c. product adaptation which of the following is most likely true ab...