MKTG 3340 Midterm 1| 95 Questions| With Complete Solutions

The Customer is... correct answer: everyone's responsibility. Goals of Marketing correct answer: (1) Discover (assess) the needs and wants of prospective customers. (2) Satisfy these needs and wants through EXCHANGES Requirements for Marketing to Occur correct answer: -Two + Parties with Unsatisfied Needs -A Desire and Ability to be Satisfied -A Way for the Parties to Communicate -Something to Exchange customer value proposition correct answer: a promise to the target consumer of the value your product will deliver. It is a clear, concise statement of what you uniquely have to offer vs. competition. It communicates: the problem, benefits, and why you are better. Social Sciences correct answer: 50s-80s. brands sought to better understand customers Marketing Concept correct answer: the idea that an organization should strive to satisfy the needs of consumers while also trying to achieve the organization's goals target market correct answer: one or more sp