Buad 332 Exam 1 Moon Updated Actual Questions And Correct Answers

BUAD 332 EXAM 1 MOON UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS

Question:
1. Marketing

Answer:
managing profitable customer relationships

Question:
2. Goals of Marketing

Answer:
1. Attract new customers by promising superior value
2. Keep and grow current customers by delivering customer satisfaction

Question:
3. Need

Answer:
state of felt deprivation (physical, social, individual)

Question:
4. Want

Answer:
a form that a human need takes as shaped by culture, individual personality, and
marketers

Question:
5. Demand

Answer:
wants + buying power

Question:
6. Market

Answer:
the set of all actual and potential buyers of a product or service

Question:
7. 2 Questions of Marketing Managers

Answer:
1. what customers will we serve?
2. how can we best serve these customers?

, Question:
8. Segmentation

Answer:
divide the market into segments of customers

Question:
9. select the segments to cultivate

Answer:
Targeting

Question:
10. Value Proposition

Answer:
the set of benefits or values it promises to deliver to consumers to satisfy their
needs

Question:
11. What do customers never buy?

Answer:
PRODUCTS

Question:
12. What do customers buy?

Answer:
ways to get what they want, solve problems, and achieve goals

Question:
13. 4 P's of Marketing

Answer:
Product, Price, Place, Promotion

Question:
14. what marketing managers use to execute their marketing strategy

Answer:
Marketing Mix