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MAR 3023 FSU EXAM 1 BRADY QUESTIONS AND CORRECT DETAILED ANSWERS

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MAR 3023 FSU EXAM 1 BRADY QUESTIONS AND CORRECT DETAILED ANSWERS

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What is pepsi co


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-Pepsi not only own Pepsi, but several other sodas as well.
-Furthermore, they own Frito Lay, Quaker, Tropicana, Gatorade)
-Shows market diversification similar to Warren Buffet, however more
concentrated in one market (food industry)

,What are the goals of community relations


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improve the community's quality of life through:
-Employment Opportunity
-Economic Development
-Contributions to Education, Health, and Culture causes




What is the first mover advantage


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Ability of an innovative company to achieve long term competitive
advantages by being the first to offer a certain product in the marketplace.




who is warren buffet


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Businessman who created Berkshire Hathaway
-Worth 67 Billion, pledged 99% to charity.
-Conglomerate holdings company= essentially owns a bunch of random
companies:duracell, fruit of the loom, spalding, Heinz. etc)




What are the historical eras of marketing?


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, Simple trade Era (pre 1860s)
Production era (pre 1920s)
Sales Era (1920s)
Marketing era (1940-1990s)
Relationship Marketing (90-2010s)
Societal Marketing (60s-present)




what was the starbucks competitive advantage


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the creation of the 3rd space; a place between home and work that is still
comfortable




What are some of the self regulatory forces


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Better Business Bureau (BBB): system of nongovernmental, independent,
local regulatory agencies supported by local businesses that helps settle
problems between customers and specific business firms
National Advertising Review Board (NARB): self regulatory unit that
considers challenges to issues raised by the National Advertising Division
(arm of BBB) about an advertisement




What is strategic planning?


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