Mktg 3340 exam 2 Study guides, Class notes & Summaries

MKTG 3340 Exam 2 2023 Complete Test 2024 Updated. What is a marketing channel? A set of interdependent organizations that eases the transfer of ownership as products move from producer to business user or consumer Who are channel members/partners? Organizations or individuals that participate in the marketing channel. Brainpower Read More What are intermediaries? Channel members that help move the product from the manufacturer to the final consumer. What are wholesalers? ...

Market Segmentation - aggregate consumers into groups (segments) that have similar needs and will react similarly to a marketing action Segmentation Strategies - - 1 product w/ multiple target segments (Johnson shampoo for dogs or babies, tums for calcium or antacid) - multiple products/ multiple segments (utility mini van vs. excitement sports car) - mass customization (dell built to order laptop) Criteria for effective market segmentation - 1. similarity of needs of potential ...

Market Segmentation correct answer: aggregate consumers into groups (segments) that have similar needs and will react similarly to a marketing action Segmentation Strategies correct answer: - 1 product w/ multiple target segments (Johnson shampoo for dogs or babies, tums for calcium or antacid) - multiple products/ multiple segments (utility mini van vs. excitement sports car) - mass customization (dell built to order laptop) Criteria for effective market segmentation correct answer: ...

how does idea generation play a role in the new product development process? correct answer: new product development process: strong new product planning, systematic and customer driven for finding and growing new products STEPS: 1. idea generation 2. idea screening 3. concept development and testing 4. marketing strategy development 5. business analysis 6. product development 7. test marketing 8. commercialization idea generation: starts new product development, the systematic se...

MKTG 3340 Exam 2 2023 What is a marketing channel? A set of interdependent organizations that eases the transfer of ownership as products move from producer to business user or consumer Who are channel members/partners? Organizations or individuals that participate in the marketing channel. Brainpower Read More What are intermediaries? Channel members that help move the product from the manufacturer to the final consumer. What are wholesalers? Intermediaries that buy prod...

how does idea generation play a role in the new product development process? - new product development process: strong new product planning, systematic and customer driven for finding and growing new products STEPS: 1. idea generation 2. idea screening 3. concept development and testing 4. marketing strategy development 5. business analysis 6. product development 7. test marketing 8. commercialization idea generation: starts new product development, the systematic search for new...

MKTG 3340 Exam 2 With 100% Correct Answers 2023

MkTG 3340 Exam 2 second dimension - correct answer Companies can't just keep a leadership position based on one aspect of customer values, they need to appeal to TWO customer values. Ex: Walmart- low price, frictionless retail proposition - correct answer Customers want to buy something they value from someone they trust superior competitive advantage - correct answer in order to win customers, retailers must offer products and experiences that are better than the competition Khan Ret...

MKTG 3340 EXAM 2

MKTG 3340 END OF TERM EXAM 2024.Definition of Marketing - correct answer An organizational function and a set of processes for creating, communicating and delivering value to customers and for managing customer relationships in ways that benefit the organizations and its stakeholders For Marketing to occur - correct answer 1)Two or more parties with unsatisfied needs 2) A desire and ability on their part to be satisfied 3) A way for parties to communicate 4) Something to exchange Custom...