MBA 650 Exam 1 ACTUAL UPDATED QUESTIONS AND CORRECT ANSWERS
- financial success often depends on marketing ability the value of marketing
- success marketing builds demand for products and
services, which, in turn, creates jobs
to be a marketer, you need to understand what marketing the scope of marketing
is, how it works, who does it, and what is marketed
is the activity, set of institutions, and processes for marketing
creating, communicating, delivering, and exchanging
offerings that have value for customers, clients, partners,
and society at large
the art and science of choosing target markets and marketing management
getting, keeping, and growing customers through
creating, delivering, and communicating superior
customer value
What is marketed? (10 main types) goods, services, events, experiences, persons, places, properties, organizations,
information, ideas
____________ is someone who seeks a response—attention, a marketer, prospect
purchase, a vote, a donation—from another party, called
the _____________
, the diet-seeking market need markets
the shoe market product markets
the "millennium" youth market demographic markets
the Chinese market geographic markets
What are the four key customer markets? consumer, business, global, nonprofit
the basic human requirements such as for air, food, water, needs
clothing, and shelter
specific objects that might satisfy the need; shape society wants
wants for specific products backed by an ability to pay demands
the customer wants an inexpensive car stated needs
the customer wants a car whose operating cost, not initial real needs
price is low
the customer expects good service from the dealer unstated needs
the customer would like the dealer to include an onboard delight needs
GPS system
the customer wants friends to see him or her as a savvy secret needs
consumer
marketers identify distinct segments of buyers by target markets
identifying demographic, psychographic, and behavioral
differences between them - they then decide which
segment(s) present the greatest opportunities
for each of these target markets, the firm develops a market offering, positions
__________________ that it _______ in target buyers' minds as
delivering some key benefit(s)
a set of benefits that satisfy those needs value proposition
a combination of products, services, information, and offerings
experiences
- financial success often depends on marketing ability the value of marketing
- success marketing builds demand for products and
services, which, in turn, creates jobs
to be a marketer, you need to understand what marketing the scope of marketing
is, how it works, who does it, and what is marketed
is the activity, set of institutions, and processes for marketing
creating, communicating, delivering, and exchanging
offerings that have value for customers, clients, partners,
and society at large
the art and science of choosing target markets and marketing management
getting, keeping, and growing customers through
creating, delivering, and communicating superior
customer value
What is marketed? (10 main types) goods, services, events, experiences, persons, places, properties, organizations,
information, ideas
____________ is someone who seeks a response—attention, a marketer, prospect
purchase, a vote, a donation—from another party, called
the _____________
, the diet-seeking market need markets
the shoe market product markets
the "millennium" youth market demographic markets
the Chinese market geographic markets
What are the four key customer markets? consumer, business, global, nonprofit
the basic human requirements such as for air, food, water, needs
clothing, and shelter
specific objects that might satisfy the need; shape society wants
wants for specific products backed by an ability to pay demands
the customer wants an inexpensive car stated needs
the customer wants a car whose operating cost, not initial real needs
price is low
the customer expects good service from the dealer unstated needs
the customer would like the dealer to include an onboard delight needs
GPS system
the customer wants friends to see him or her as a savvy secret needs
consumer
marketers identify distinct segments of buyers by target markets
identifying demographic, psychographic, and behavioral
differences between them - they then decide which
segment(s) present the greatest opportunities
for each of these target markets, the firm develops a market offering, positions
__________________ that it _______ in target buyers' minds as
delivering some key benefit(s)
a set of benefits that satisfy those needs value proposition
a combination of products, services, information, and offerings
experiences
