Mktg 3340 exam 1 - Study guides, Class notes & Summaries

Elements necessary in order for marketing to occur - ANSWER -2+ parties w/ unsatisfied needs (in order to have a marketing exchange) -DESIRE & ABILITY to satisfy those needs ("whats your budget?" - A way for the parties to COMMUNICATE - Something to exchange (that both parties agree is valuable) societal marketing concept - ANSWER calls upon marketers to balance 3 considerations in setting their marketing policies: - consumer wants & satisfaction -company profits -public interest (...

MKTG 3340 Exam 1 (1,2,3,5,8) Questions And Answers 2024. Marketing - correct answer Delivery of customer satisfaction at a profit Goals of marketing - correct answer Attract new customers with value and keep current customers with satisfaction Requirements for Marketing - correct answer Two or more parties with unsatisfied needs Desire and ability to satisfy needs A way to communicate Something to exchange Target market - correct answer One or more specific groups of potential custo...

Role of Marketing correct answersmarketing is engaging customers and managing profitable customer relationships. the aim of marketing is to create value for customers in order to capture value from customers in return goal: attract new customers by promising superior value and to keep and grow current customers by delivering value and satisfaction marketing is selling and advertising but also satisfying customer needs. the aim of marketing is to make selling unnecessary. engage consumers e...

MKTG 3340 Exam 1 (1,2,3,5,8)Questions Correctly Answered 2024. Marketing - correct answer Delivery of customer satisfaction at a profit Goals of marketing - correct answer Attract new customers with value and keep current customers with satisfaction Requirements for Marketing - correct answer Two or more parties with unsatisfied needs Desire and ability to satisfy needs A way to communicate Something to exchange Target market - correct answer One or more specific groups of potential...

MKTG 3340 EXAM 1 correct 100%Role of Marketing - ANSWER marketing is engaging customers and managing profitable customer relationships. the aim of marketing is to create value for customers in order to capture value from customers in return goal: attract new customers by promising superior value and to keep and grow current customers by delivering value and satisfaction marketing is selling and advertising but also satisfying customer needs. the aim of marketing is to make selling unnecess...

MKTG 3340 EXAM 1 what is marketing? - correct answer the management process involved in identifying, anticipating, and satisfying customer wants profitably what are the 2 goals of marketing? - correct answer 1. discover (assess) the needs and wants of prospective customers 2. satisfy these needs & wants through EXCHANGE (each are better off after exchange) what are the 4 requirements for marketing to occur? - correct answer 1. two or more parties with unsatisfied needs 2. desire and abi...

Elements necessary in order for marketing to occur - -2+ parties w/ unsatisfied needs (in order to have a marketing exchange) -DESIRE & ABILITY to satisfy those needs ("whats your budget?" - A way for the parties to COMMUNICATE - Something to exchange (that both parties agree is valuable) societal marketing concept - calls upon marketers to balance 3 considerations in setting their marketing policies: - consumer wants & satisfaction -company profits -public interest (ex. toms...

BCG Growth-Share Matrix: cash cow - Answer-- cash cow: profitable products, generate more cash than needed, slow sales growth; high relative market share & low market growth rate BCG Growth-Share Matrix: dog - Answer-- dog: cost disadvantage, markets not growing; low relative market share & low market growth rate BCG Growth-Share Matrix: question mark - Answer-- question mark: rapid growth, poor profit margins, enormous demand for cash; low relative market share & high market growth rate B...

MKTG 3340 EXAM 1 Correct Questwhat is marketing? - ANSWER the management process involved in identifying, anticipating, and satisfying customer wants profitably what are the 2 goals of marketing? - ANSWER 1. discover (assess) the needs and wants of prospective customers 2. satisfy these needs & wants through EXCHANGE (each are better off after exchange) what are the 4 requirements for marketing to occur? - ANSWER 1. two or more parties with unsatisfied needs 2. desire and ability to sati...

MKTG 3340 Exam 1 Questions With 100% Correct Answers 2023