MARK 3000 Exam 1 Questions and Answers

MARK 3000 Exam 1 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. marketing plan - Correct ️️ A written document 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 Ps, 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 of as a result Product, Price, Place, Promotion - Correct ️️ four p's marketing mix - Correct ️️ Product, price, place, and promotion—the controllable set of activities that a firm uses to respond to the wants of its target markets goods - Correct ️️ items that can be physically touched service - Correct ️️ Any intangible offering that involves a deed, performance, or effort that cannot be physically possessed; intangible customer benefits that are produced by people or machines and cannot be separated from the produce ideas - Correct ️️ Intellectual concepts—thoughts, opinions, and philosophies. marketing channel management - Correct ️️ Also called supply chain management; refers to a set of approaches and techniques firms employ to efficiently and effectively integrate their suppliers supply chain management - Correct ️️ A set of approaches and techniques firms employ to efficiently and effectively integrate their suppliers, manufacturers, warehouses, stores, and transportation intermediaries into a seamless value chain in which merchandise is produced and