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

what is marketing? - the management process involved in identifying, anticipating, and satisfying customer wants profitably what are the 2 goals of marketing? - 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? - 1. two or more parties with unsatisfied needs 2. desire and ability to satisfy those needs 3. a way for the parties ...

MKTG 3340 EXAM 1 QUIDE

what 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 satisfy those needs 3. a way for ...

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 unnecessary. engage consumers effecti...

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, so...

MKTG 3340 Exam 1 With 100% Correct Answers 2023

Marketing correct answersDelivery of customer satisfaction at a profit Goals of marketing correct answersAttract new customers with value and keep current customers with satisfaction Requirements for Marketing correct answersTwo or more parties with unsatisfied needs Desire and ability to satisfy needs A way to communicate Something to exchange Target market correct answersOne or more specific groups of potential customers towards which an organization directs its marketing program ...

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 unnecessary. engage consumers effecti...

Marketing - Delivery of customer satisfaction at a profit Goals of marketing - Attract new customers with value and keep current customers with satisfaction Requirements for Marketing - Two or more parties with unsatisfied needs Desire and ability to satisfy needs A way to communicate Something to exchange Target market - One or more specific groups of potential customers towards which an organization directs its marketing program Market segments - Behavioral Psychographic Geogr...

what 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 satisfy those needs 3. a way for ...