NHM 464 Exam Questions and Answers| New Update with 100% Correct Answers
What are the five core customer and marketplace concepts: -Needs, Wants, and Demands
-Marketing Offerings
-Value and satisfaction
-Exchanges and relationships
- Markets
a state of felt deprivation Needs
objectives that will satisfy needs Wants
when backed by buying power Demands
an item that satisfies what a consumer demands: A tangible product and/or intangible services
Product
very important as it determines the company's profit Price
refers to providing the product at a place which is convenient for consumers to access Place
(distribution)
all of the methods of communication that marketer may use to provide information to different
parties about the product Promotion (sales and advertising)
What are the five marketing management orientation? - Production concept
- Product concept
- Selling concept
, - Marketing Concept
- Societal Marketing concept
belief that consumers will favor products that are available and highly affordable Production
concept
belief that consumers will favor products that offer the most in quality, performance, and
innovative features Product concept
belief the consumers will not buy enough of the orgs. products unless the organization
undertakes a large selling and promotion effort Selling concept
belief that achieving organizational goals depends on determining the needs and wants of
targets markets and delivering the desired satisfaction more effectively and efficiently than
competitors Marketing concept
belief that marketing strategy should deliver value to customers in a way that maintains or
improves both the consumers' and society's well-being Societal Marketing concept
What are the four characteristics of service marketing - Intangibility
- inseparability
- variability
- perishability
cannot be seen, tasted, felt, heard, or smelled before they are purchased. service marketers
should take steps to provide their prospective customers with evidence that will help them
evaluate the service. called providing tangible evidence, e.g. promotional material, employees'
appearance, and the service firm's physical environment Intangibility
What are the five core customer and marketplace concepts: -Needs, Wants, and Demands
-Marketing Offerings
-Value and satisfaction
-Exchanges and relationships
- Markets
a state of felt deprivation Needs
objectives that will satisfy needs Wants
when backed by buying power Demands
an item that satisfies what a consumer demands: A tangible product and/or intangible services
Product
very important as it determines the company's profit Price
refers to providing the product at a place which is convenient for consumers to access Place
(distribution)
all of the methods of communication that marketer may use to provide information to different
parties about the product Promotion (sales and advertising)
What are the five marketing management orientation? - Production concept
- Product concept
- Selling concept
, - Marketing Concept
- Societal Marketing concept
belief that consumers will favor products that are available and highly affordable Production
concept
belief that consumers will favor products that offer the most in quality, performance, and
innovative features Product concept
belief the consumers will not buy enough of the orgs. products unless the organization
undertakes a large selling and promotion effort Selling concept
belief that achieving organizational goals depends on determining the needs and wants of
targets markets and delivering the desired satisfaction more effectively and efficiently than
competitors Marketing concept
belief that marketing strategy should deliver value to customers in a way that maintains or
improves both the consumers' and society's well-being Societal Marketing concept
What are the four characteristics of service marketing - Intangibility
- inseparability
- variability
- perishability
cannot be seen, tasted, felt, heard, or smelled before they are purchased. service marketers
should take steps to provide their prospective customers with evidence that will help them
evaluate the service. called providing tangible evidence, e.g. promotional material, employees'
appearance, and the service firm's physical environment Intangibility
