Marketing mix 4 ps Study guides, Revision notes & Summaries

Revenue Management Final Exam | Latest 2023 with complete solution What is the industry term used to describe the sum of prices paid by a business's customers? - Total Revenues Historically, what concept have hospitality managers chiefly used to calculate their selling prices? - Costs What is an algebraic equivalent of the formula: Sales = Costs + Profit? - Profit = Sales - Costs What is the name for the net value achieved by both parties in a business transaction? - Profit What eleme...

Which scenario represents personal selling? - The marketing department uses the four Ps to determine the brand message. - A customer orders a product online using a website. - A customer goes to a pet store and discusses the best type of turtle food with a salesperson. - The marketing team collaborates with the sales organization to develop appropriate tools for advertising. - answerA customer goes to a pet store and discusses the best type of turtle food with the sales person Business...

what is the industry term used to describe the sum of prices paid by a business's customers? -daily receipts -profit -profits less expenses -total revenues -total revenues historically, what concept have hospitality managers chiefly used to calculate their selling prices? -income -revenue -costs -profits -costs what is an algebraic equivalent of the formula: sales=costs+profit? -profit=sales-costs -costs=sales+profits -costs=profit-sales -prof...

Consumer Behavior 10e Schiffman TestBank Completed Correctly Consumer Behavior 10e Schiffman tbINTRODUCTION Welcome to the Test Item File for Consumer Behavior, 10th edition. The textbook was authored by Leon G. Schiffman and Leslie Lazar Kanuk, in collaboration with Joseph Wisenblit. Each chapter in the Test Item File contains four types of questions: Multiple-Choice, Multiple-Choice Mini Case, True/False, and Essay Questions. Each question is formatted with the question number, possibl...

Elements necessary in order for marketing to occur -2+ parties w/ unsatisfied needs (in order to have a marketing exchange) -DESIRE & ABILITY to satisfy those needs ("whats your budget?" - A way for the parties to COMMUNICATE - Something to exchange (that both parties agree is valuable) societal marketing concept calls upon marketers to balance 3 considerations in setting their marketing policies: - consumer wants & satisfaction -company profits -public interest (ex. toms, so...

Marketing (1MA3) Midterm Study Guide with Certified Solutions What is Marketing? a set of business practices designed to plan for and present an organization's products or services in ways that build effective customer relationships Core Aspects of Marketing marketing is about creating value. it involves the product mix, entails an exchange, is about satisfying customer needs and wants, occurs in many settings, can be performed by anyone. Marketing Mix/4 P's Product, Price, Place, Promotion P...

organization - Answer- company, firm, etc. market - Answer- all people/organizations who want or need to buy a product marketing concept - Answer- customer-oriented business philosophy that focuses on customer satisfaction marketing functions - Answer- 1. environmental analysis 2. consumer analysis 3. product planning 4. price planning 5. promotion planning 6. physical distribution (place) planning marketing mix - Answer- combination of product, price, promotion, and physical di...

Elements necessary in order for marketing to occur - ANSWER -2+ parties w/ unsatisfied needs (in order to have a marketing exchange) -DESIRE & ABILITY to satisfy those needs ("whats your budget?" - A way for the parties to COMMUNICATE - Something to exchange (that both parties agree is valuable) societal marketing concept - ANSWER calls upon marketers to balance 3 considerations in setting their marketing policies: - consumer wants & satisfaction -company profits -public interest (...

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. - Answer- Marketing 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 - Answer- Marketing Plan The trade of things of value between the buyer and the sel...

MKTG 3340 EXAM 1 CorrectElements necessary in order for marketing to occur - ANSWER -2+ parties w/ unsatisfied needs (in order to have a marketing exchange) -DESIRE & ABILITY to satisfy those needs ("whats your budget?" - A way for the parties to COMMUNICATE - Something to exchange (that both parties agree is valuable) societal marketing concept - ANSWER calls upon marketers to balance 3 considerations in setting their marketing policies: - consumer wants & satisfaction -company profit...