Marketing 3340 Study guides, Class notes & Summaries

Fixed Costs - The sum of the expenses in a firm that are STABLE and DO NOT CHANGE WITH THE QUANTITY OF PRODUCT THAT IS PRODUCED AND SOLD Direct Channels - - producer and consumer deal directly with eachother - ex) Schwans Food Company - employed when buyers are large and well defined -products are often high unit and require hands on expertise - firms using this channel maintain their own sales fore and perform all channel functions Internet Marketing Channels - channels that employ t...

What elements are necessary for marketing to occur? - Answer- Two or more parties with unsatisfied needs The desire/ability to satisfy those needs A way for the parties to communicate Some sort of exchange What are the goals of marketing? - Answer- Discover/assess the needs/wants of prospective customers Satisfy those needs and wants through exchanges 4 P's of Marketing - Answer- Product, place, price, promotion (customer at the center) Evolution of Market Orientation - Answer- Pro...

MARKETING 3340 EXAM 1 WITH COMPLETE SOLUTIONS 100% MARKETING 3340 EXAM 1 WITH COMPLETE SOLUTIONS 100%

Marketing 3340 Final Exam 2024. 4 basic business management practices - correct answer 1) strategy 2) execution 3) culture 4) structure sales response function - correct answer relates the expense of the marketing effort to the marketing results obtained. share points - correct answer percentage points of market share, as the common basis of comparison to allocate marketing resources effectively for different product lines within the same firm to make resource allocation decisions...

Marketing 3340 Final correct 100%Value - ANSWER Perceived Benefits/Price Value Pricing - ANSWER The practice of simultaneously increasing product and service benefits and maintaining or decreasing price Costs - ANSWER Psychological Temporal Monetary Psychological Costs - ANSWER Mental Energy and stress involved in making purchases and accepting product risks Temporal Costs - ANSWER Time spent purchasing products and services Monetary Costs - ANSWER Money spent to receive product...

The primary role of marketing is to: correct answersGenerate profitable revenue A(n) __________ is a descriptive thought that a person has about something: correct answersBelief Pat thought he had received the best deal on his new car. Shortly after buying the car, Pat started to notice certain disadvantages of his new car as he learned more about other cars available in the market. Pat is experiencing: correct answersPost-purchase dissonance ________ marketing involve engaging directly...

Marketing 3340 Question and answers 2024 verified to pass4 basic business management practices - correct answer 1) strategy 2) execution 3) culture 4) structure sales response function - correct answer relates the expense of the marketing effort to the marketing results obtained. share points - correct answer percentage points of market share, as the common basis of comparison to allocate marketing resources effectively for different product lines within the same firm to make resour...

Value - ANSWER Perceived Benefits/Price Value Pricing - ANSWER The practice of simultaneously increasing product and service benefits and maintaining or decreasing price Costs - ANSWER Psychological Temporal Monetary Psychological Costs - ANSWER Mental Energy and stress involved in making purchases and accepting product risks Temporal Costs - ANSWER Time spent purchasing products and services Monetary Costs - ANSWER Money spent to receive products and services Benefits - ANSW...

Marketing 3340 Midterm Answers

Value - ANSWER Perceived Benefits/Price Value Pricing - ANSWER The practice of simultaneously increasing product and service benefits and maintaining or decreasing price Costs - ANSWER Psychological Temporal Monetary Psychological Costs - ANSWER Mental Energy and stress involved in making purchases and accepting product risks Temporal Costs - ANSWER Time spent purchasing products and services Monetary Costs - ANSWER Money spent to receive products and services Benefits - ANSW...