Mktg 301 - Study guides, Class notes & Summaries

Marketing correct answers The activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders, and society at large Requirements for Marketing to Occur correct answers - Parties with unsatisfied needs - A desire and ability to be satisfied - A way for the parties to communicate - Something to exchange How Marketing Satisfies Consumer Needs correct answers 4 P's 4 P's correct answers - Product - Price - Place - Promotion...

Marketing is defined as - Answer the process by which companies create value for customers & build strong customer relationships in order to capture value from customers in return. The Four P's of Marketing - Answer Product, Price, Place, Promotion Product - Answer What do customers need & want? Price - Answer How much should we ask customers to pay? Place - Answer How will we get it to the customers? Promotion - Answer How will we communicate with the customers? Marketing Con...

Marketing correct answers Process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. Goals of Marketing correct answers 1. Attract new customers by promising superior value 2. Keep and Grow new customers by delivering satisfaction Needs correct answers States of felt deprivation. Wants correct answers The form human needs take as shaped by culture and individual personality. Demands correct answer...

State of deprivation (phys: food, warmth, safety; social: belonging, affection; individual: knowledge, self-expression) correct answers Need Form that needs take as they are shaped by culture and individual personality correct answers Want Wants backed by buying power correct answers Demand Goal of any business. correct answers Stay in business/Maximize revenue/Market share Why is marketing extra important? correct answers Only major whose sole purpose/reason for being is revenue. Al...

What is Marketing? - Answer A social and managerial process involving managing profitable customer relationships; the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. The 4 P's of Marketing - Answer 1. What do potential customers need/want? PRODUCT 2. How much would we ask customers to pay? PRICE 3. How will we get it to the customers? PLACE/DISTRIBUTION 4. How will we communicate with the cus...

Marketing Concept - Answer achieving organizational goals depends on knowing the needs and wants of target markets Steps: Market Customer Needs Integrated marketing (4 P's) Profits through customer satisfaction Selling concept - Answer The idea that customers won't buy enough of the products unless firm undertakes a large-scale selling and promotion effect Steps: Factory Existing products Selling and promoting Profits through sales volume Production concept - Answer the idea ...

Marketing - Answers Process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. Goals of Marketing - Answers 1. Attract new customers by promising superior value 2. Keep and Grow new customers by delivering satisfaction Needs - Answers States of felt deprivation. Wants - Answers The form human needs take as shaped by culture and individual personality. Demands - Answers Human wants that are backed ...

What is BreezoMeter - Answer provides the most accurate air quality data in a simple format Data problem with Breezometer - Answer - air quality data is scattered - data is inaccessible and not actionable - data isn't real time at peoples locations BreezoMeter's Technology - Answer - breezometers API ( to be integrated into various products ) - air quality models - Measurements - GIS and emissions and satellights Effects of constantly changing air quality data - Answer - dat...

What is marketing? correct answers engaging customers and managing profitable customer relationships Marketing Myths correct answers 1. Marketers push products consumers don't want to buy. 2. Consumers are no match for the power of marketing. 3. Marketing is deceptive and not truthful or honest. 4. Marketers believe in planned obsolescence. Strategies vs. Tactics correct answers Long-term plan versus day to day actions. Framework: market analysis - strategic decisions - tactical decisi...

Marketing correct answers The activity for creating, communicating, delivering, and exchanging offerings that benefit the organization, its stakeholders, and society at large Requirements for Marketing to Occur correct answers - Parties with unsatisfied needs - A desire and ability to be satisfied - A way for the parties to communicate - Something to exchange How Marketing Satisfies Consumer Needs correct answers 4 P's 4 P's correct answers - Product - Price - Place - Promotion...