Exam 1 MKT 300, Jim Karrh, Fall 2025
University of Alabama With complete
verified solutions (Guaranteed Pass)
Product - answer can be a good, a service, or an idea
Good - answer A physical entity that you can touch
Service - answer involves human (and maybe mechanical) efforts to
provide intangible benefits
Idea - answer A concept, a philosophy, an image, or an issue
Distribution (place) - answer having your product available at the right
time and in appropriate locations
Promotion - answer involves communication activities and
selling.
Price - answer Can be used as a completive tool
, Why is price important in the Marketing mix? - answer It is the most
flexible
What is the marketing mix? - answer Product, Price, Distribution, and
Promotion
Value - answer a customer's subjective assessment of benefits relative
to costs in determining the worth of a product
Customer Value = - answer customer benefits - customer costs
Stakeholders - answer are all of the constituents who have a "stake," or
claim, in some aspect of a company's products, operations, markets,
industry, and outcomes
Customers - answer the purchasers of organizations' products; the focal
point of all marketing activities
Target Market - answer a specific group of customers on whom an
organization focuses its marketing efforts
What are the 6 forces that affect Marketing? - answer Economy
Politics
University of Alabama With complete
verified solutions (Guaranteed Pass)
Product - answer can be a good, a service, or an idea
Good - answer A physical entity that you can touch
Service - answer involves human (and maybe mechanical) efforts to
provide intangible benefits
Idea - answer A concept, a philosophy, an image, or an issue
Distribution (place) - answer having your product available at the right
time and in appropriate locations
Promotion - answer involves communication activities and
selling.
Price - answer Can be used as a completive tool
, Why is price important in the Marketing mix? - answer It is the most
flexible
What is the marketing mix? - answer Product, Price, Distribution, and
Promotion
Value - answer a customer's subjective assessment of benefits relative
to costs in determining the worth of a product
Customer Value = - answer customer benefits - customer costs
Stakeholders - answer are all of the constituents who have a "stake," or
claim, in some aspect of a company's products, operations, markets,
industry, and outcomes
Customers - answer the purchasers of organizations' products; the focal
point of all marketing activities
Target Market - answer a specific group of customers on whom an
organization focuses its marketing efforts
What are the 6 forces that affect Marketing? - answer Economy
Politics
