Mktg 320 - Study guides, Class notes & Summaries

product - ANSWER everything, both favorable and unfavorable, that a person receives in an exchange business product (industrial product) - ANSWER a product used to manufacture other goods or services, to facilitate an organization's operations, or to resell to other customers consumer product - ANSWER a product bought to satisfy an individual's personal wants or needs convenience product - ANSWER a relatively inexpensive item that merits little shopping effort shopping product - AN...

MKTG 320 (140 questions with 100% verified answers)

Market segment - ANSWER A __________ is a relatively homogeneous group of customers who will respond to a marketing mix in a similar way. All of the above - ANSWER The role of price in a meeker directed economy is____. Whether the whole company is customer oriented - ANSWER The main difference between the "marketing department era" and the "marketing company era" is: The people and different segments should be as heterogeneous as possible with respect to their likely response market...

International marketing involves marketing activities that have a substantial focus on international consumers in a particular country or countries. - ANSWER True Firms involved in domestic marketing and export marketing are more likely to have an ethnocentric philosophy to internationalization. - ANSWER True Nontariff barriers have been successful in restricting the international expansion of companies. - ANSWER True A regiocentric orientation calls for companies to focus on distinct m...

New Task - ANSWER a business buying situation in which the buyer purchases a product or service for the first time modified rebuy - ANSWER a business buying situation in which the buyer has purchased a similar product in the past but is interested in obtaining new information straight rebuy - ANSWER the customer buys the same product from the same source it used when the need arose previously How does a new task buying situation affect your sales process? - ANSWER For in-supplier: Monit...

Internation marketing managers - ANSWER need to constantly monitor the different forces affecting their international operations What is International Marketing Research? - ANSWER the systematic design, collection, recording, analysis, interpretation, and reporting of information pertinent to a particular marketing decision facing a company operating internationally. Buyer behavior for International research - ANSWER -Brand preference -Brand attitudes -Brands awareness studies -Purchas...

Which of these is not the responsibility of marketing? - ANSWER Fulfilling product shipments The customer should ideally be at the center of the marketing process. T/F - ANSWER True According to the most recent marketing mix, how many Ps are there in total? - ANSWER 7 Consider a candy be sold in a vending machine. The vending machine would represent which of the Ps of the marketing mix? - ANSWER Place

In which type of market does a firm have the most commitment to international marketing? - ANSWER global marketing Which of the following approaches to international marketing involvement best describes a company that coordinates activities on a country by country basis? - ANSWER international marketing

What are the elements of marketing? - ANSWER -satisfy want & needs -based on exchange -goods & services are produced have value to customers As discussed in class, what is customer value? - ANSWER whatever the customer says it is What are the conditions of an exchange? - ANSWER -at least 2 parties -each has something of value -each party communicates and delivers

product - ANSWER everything, both favorable and unfavorable, that a person receives in an exchange business product (industrial product) - ANSWER a product used to manufacture other goods or services, to facilitate an organization's operations, or to resell to other customers consumer product - ANSWER a product bought to satisfy an individual's personal wants or needs