Sales era - Study guides, Class notes & Summaries

What is marketing? - Answer-Product development to satisfy unmet consumer needs Great Marketing (3 things) - Answer-1. Develop products that people want or need 2. Price them at a level that maximizes profits 3. Distribute them to where consumers are Marketing Defininition - Answer-The process by which companies determine what products or services may be of interest to customers and the strategy to use in sales, communications and business development Simple Trade Era - Answer-(Pre-1860'...

MGT 103 Midterm Exam Questions & Revised Correct Answers. Guarantee Pass!! Definition of Marketing - ANSWER : The activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Exchange - ANSWER : Marketing Concept - ANSWER : Analyze Market Opportunities → Select Target Audience → Market Research → Formulate the Marketing Mix → Implement & Control. N...

Value - the relationship between the price of a good or service and the benefits that it offers its customers Business - any organization or activity that provides goods and services in an effort to earn a profit Profit - the money that a business earns in sales or revenue, minus expenses, such as the cost of goods, and the cost of salaries. Revenue - Expenses = Profit (or Loss) Loss - when a business incurs expenses that are greater than its revenue Entrepreneurs - people who risk t...

What is Marketing? - correct answer To identify unmet consumer needs & then develop products that fill those needs & then develop products that fill those needs. Pure Marketing - correct answer Business function that develops the products that people want to buy because they know they need them and because they can afford them and because they can find them. (Don't have to advertise) Example of Pure Marketing - correct answer Coca Cola - It tastes good & delivers caffeine. Don't have to ...

CLFP EXAM - History & Purpose of Leasing Currently how big is the leasing industry? - Correct answer-American companies acquire $1 billion in equipment each year of which 55% is leased. What % of companies lease? - Correct answer-8 of 10 How old is leasing? - Correct answer-4000 years ago the Sumerians produced leases on clay tablets for ag tools, water rights and animals. The Code of Hammurabi is an ancient record of Babylonian dating back to 1700 bc What is the Statue of Whales? - Corr...

What are the eras of different orientation in the history of American business? correct answers Product Sales Marketing Relationship Product Orientation correct answers focused on making the product Sales Orientation correct answers focused on moving the product Marketing Orientation correct answers Focused on market Relationship Orientation correct answers Focused on relationship Are all companies now in the marketing era? correct answers No, Relationship What are the two c...

MGT 103 Midterm Exam Questions & Revised Correct Answers. Guarantee Pass!! Marketing - ANSWER : interpret the needs and wants of customers, communicate solutions, facilitate change, decision making is messy and may not be "right" answer Sales era - ANSWER : 1930s-1970s Production era - ANSWER : s Marketing concept era - ANSWER : 1950s-2000s Customer relationship era - ANSWER : 1980spresent marketing concept - ANSWER : identifies needs and wants of the customer and provides it...

Core Aspects of Marketing correct answers Affects various stakeholders, Can be performed by both individuals and organizations, Entails an exchange, Helps create value, Requires 4 p's decisions, Satisfying customer needs and wants Exchange correct answers Can be monetary or barter, Countries barter or counter trade products Marketing Mix correct answers Price, Product, Place, Promotion Production era correct answers Focused on producing the best product, Turn of the century Sales er...

Product - The need-satisfying offering of a firm Customer Satisfaction - The extent to which a firm fulfills a consumers' needs, desires and expectations Innovation - The development and spread of new ideas, goods and services Economies of Scale - As a company produces larger numbers of a particular product, the cost of each unit of the product goes down Production Era - A time when a company focuses on production of a few specific products - perhaps because few of these products are ava...

MGT 103 MIDTERM (BATES) marketing interpret the needs and wants of customers, communicate solutions, facilitate change, decision making is messy and may not be "right" answer sales era 1930s-1970s production era s marketing concept era 1950s-2000s customer relationship era 1980s-present marketing concept identifies needs and wants of the customer and provides it to them better than the competition can need a physiological or psychological necessity, doesn't have to be daily wan...