Marketing 3000 Exam 1 questions with answer

Marketing 3000 Exam 1 questions with \| \| \| \| \| \|




answers

Marketing - CORRECT ANSWERS ✔✔The activity, set of \| \| \| \| \| \| \| \|


institutions, and processes for creating, capturing, \| \| \| \| \| \|


communicating, delivering, and exchanging offerings that have \| \| \| \| \| \| \|


value for customers, clients, partners and society at large
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Exchange - CORRECT ANSWERS ✔✔The trade of things of value
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between the buyer and the seller so that each is better off as a
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result


Marketing Mix/Four P's - CORRECT ANSWERS ✔✔Product, price,
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place and promotion. Controllable set of activities that a firm
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uses to respond to the wants of its target markets
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Goods - CORRECT ANSWERS ✔✔Items you can physically touch
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Services - CORRECT ANSWERS ✔✔Intangible customer benefits
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produced by people or machines and can't be separated from
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the producer
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Ideas - CORRECT ANSWERS ✔✔Thoughts, opinions, philosophies
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and intellectual concepts
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, Price - CORRECT ANSWERS ✔✔Not just monetary, everything the
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buyer gives up (money, time, energy) in exchange for the
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product


Place - CORRECT ANSWERS ✔✔All the activities (supply chain
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management) needed to get the product to the right customer \| \| \| \| \| \| \| \| \| \|


when the customer wants it
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Supply Chain Management - CORRECT ANSWERS ✔✔The set of
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approaches and techniques that firms employ to efficiently and
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effectively integrate their entire supply chain into a seamless
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system where merchandise is produced and distributed in the
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right quantities
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Promotion - CORRECT ANSWERS ✔✔Communication by a
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marketer that informs, persuades, and reminds potential buyers
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about a product or service to influence their opinions and elicit a
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response


Business to Consumer (B2C) Marketing - CORRECT ANSWERS
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✔✔Process where businesses sell to consumers \| \| \| \| \|




Business to Business (B2B) Marketing - CORRECT ANSWERS
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✔✔Process where businesses sell to other businesses
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Consumer to Consumer (C2C) Marketing - CORRECT ANSWERS
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✔✔Process where consumers sell to other consumers (ex: eBay)
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