Marketing 3340 Study guides, Class notes & Summaries

marketing 3340 exam 1 Questions with complete solution 2024 relationship marketing - correct answer links organization to customer, employee, supplier, other partners for mutual long term benefit before and after sale customer value - correct answer best price, product, service product - correct answer good, service, idea bundle intangible and tangible satisfy customers and is received in exchange for something of value utlity - correct answer the benefits or customer value received by...

Role of Marketing Generate profitable revenue When a marketer can describe something it is called a product concept Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:01 / 0:15 Full screen After buying an item we experience what? cognitive dissonance Ways to engage consumers, directly or indirectly -Directly: physically, email newsletters, one to one basis, calling, sending direct ads/texting, create relationship, personali...

Marketing 3340 Written Exam Questions & Answers 2024. 4 basic business management practices - correct answer 1) strategy 2) execution 3) culture 4) structure sales response function - correct answer relates the expense of the marketing effort to the marketing results obtained. share points - correct answer percentage points of market share, as the common basis of comparison to allocate marketing resources effectively for different product lines within the same firm to make resource ...

Market Segmentation - Aggregating consumers into groups that have similar needs and will be react similarly to a marketing action Product Differentiation - Involves the firm using different marketing mix actions such as product features and advertising, to help consumers perceive the product as being different and better than competing products Three market segmentation strategies - 1. One product and many segments 2.Multiple products in multiple segments 3. Mass customization ...

MKTG 3340 - CHAPTER 3: ANALYZING THE MARKETING ENVIRONMENT WITH COMPLETE SOLUTIONS 100% MKTG 3340 - CHAPTER 3: ANALYZING THE MARKETING ENVIRONMENT WITH COMPLETE SOLUTIONS 100%

Marketing - Generate demand and make money Production Concept - - High production efficiency and wide distribution coverage - Low consumer cost "Consumers will buy any car so long as it is black and under $500." - Henry Ford, Sr. Product Concept - - Focus on producing superior products with little or no consumer input "If you build a better mousetrap, the world will beat a path to your door." Sales Concept - - Consumers, if left alone, will ordinarily not buy ...

Marketing 3340 Final Exam

Marketing 3340 Exam 1 Updated Test Exam ionship marketing - correct answer links organization to customer, employee, supplier, other partners for mutual long term benefit before and after sale customer value - correct answer best price, product, service product - correct answer good, service, idea bundle intangible and tangible satisfy customers and is received in exchange for something of value utlity - correct answer the benefits or customer value received by users of product type ...

Fixed Costs - The sum of the expenses in a firm that are STABLE and DO NOT CHANGE WITH THE QUANTITY OF PRODUCT THAT IS PRODUCED AND SOLD Direct Channels - - producer and consumer deal directly with eachother - ex) Schwans Food Company - employed when buyers are large and well defined -products are often high unit and require hands on expertise - firms using this channel maintain their own sales fore and perform all channel functions Internet Marketing Channels - channels that...

MARKETING 3340 FINAL