Mba 706 exam 1 Study guides, Class notes & Summaries

Marketing - ANSWER-identifying and meeting human and social needs in a way that harmonizes with the goals of the organization Marketing Management - ANSWER-the art and science of choosing target markets and getting, keeping, and growing customers through creating, delivering, and communicating superior customer value Goods - ANSWER-Physical goods constitute the bulk of most countries' production and marketing efforts Services - ANSWER-As economies advance, a growing proportion of their ...

MBA 706 Exam 2 Study Guide Questions and Answers. 1. What is the difference between a want and a need from the consumer buying process’ perspective? o Need  Occurs when the consumer’s existing level of satisfaction and desired level of satisfaction are not the same  Based on internal (e.g., hunger, thirst, and fatigue) or external (e.g., advertising, window shopping, interacting with salespeople) stimuli  Consumers can "recognize needs" in a variety of settings and situati...

MBA 706 Exam 2 Study Guide Questions and Answers. 1. What is the difference between a want and a need from the consumer buying process’ perspective? o Need  Occurs when the consumer’s existing level of satisfaction and desired level of satisfaction are not the same  Based on internal (e.g., hunger, thirst, and fatigue) or external (e.g., advertising, window shopping, interacting with salespeople) stimuli  Consumers can "recognize needs" in a variety of settings and situati...

QUESTIONS AND ANSWERS

QUESTIONS AND ANSWERS

MBA 706 - Exam 3 Graded A+ Market Segmentation The process of dividing consumers into groups with similar consumer characteristics and product needs. Market Segmentation Allows managers to break the market into small manageable groups, so that f irms can tailor their offerings to satisfy different needs and wants. Three Marketing Strategies Undifferentiated (Mass Marketing), Differentiated (Product-Variety), Concentrated (Target) Undifferentiated (Mass Marketing) Firms sell a sin...

QUESTIONS AND ANSWERS