Buad 332 exam 3 - Study guides, Class notes & Summaries

Narrowly, what is a price? - Answer Narrowly, price is the amount of money charged for a product or service Broadly, what is a price? - Answer Broadly, price is the sum of all values that consumers exchange for the benefits of having or using the product or service Price is not just money, think of price as - Answer sacrifice Example of price - Answer $88 boots from amazon versus exact same pair at Dillards for $88 as well. The price here is wait-time, trying them on, or convenience. The...

Price definition: narrowly - Answer the amount of money charged for a product or service price definition: broadly - Answer the sum of all the values that consumers exchange for the benefits of having or using the product or service internal factors affecting price decisions - Answer marketing objectives marketing mix strategies costs organizational considerations external factors affecting price decisions - Answer nature of the market and demand competition other environmental factors ...

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 ...

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 companie...

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 - Answer 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 - Answer D. franchises A & are best described as __ that sell p...

Amazon and Expedia are best described as ______ that sell products and services directly to final buyers via the Internet - Answer- E-tailers After determining its advertising objectives, the company's next step in developing an advertising program are _________. - Answer- Set its advertising budget Developing an effective message strategy begins with identifying ______ that can be used as advertising appeals - Answer- Customer benefits For which of the following reasons is Walmart cla...