UGA MARK 3000 TEST 1 – McManus Questions and Answers

UGA MARK 3000 TEST 1 – McManus Questions and Answers marketing - Correct ️️ an organizational function and a set of processes for creating, capturing, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders What is the goal of marketing? - Correct ️️ anticipating and determining the needs/wants of consumers and satisfying those needs through the 4Ps to create long term exchanges of value marketing plan - Correct ️️ a written doc composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four P's, action programs, and projected or pro forma income (and other financial) statements exchange - Correct ️️ the trade of things of value between the buyer and the seller so that each is better off as a result marketing mix (4 P's) - Correct ️️ Product, Price, Place, and Promotion -the controllable set of activities that a firm uses to respond to the wants of its target market marketing mix (4 P's): product - Correct ️️ creating value created through a variety of offerings, including goods, services, and ideas, to satisfy customer needs. marketing mix (4 P's): price - Correct ️️ capturing value made up of everything a buyer gives up (money, time, energy) in exchange for the product.