MKTG 3340 EXAM 1| 124 Questions| With Complete Solutions

what is marketing? correct answer: the management process involved in identifying, anticipating, and satisfying customer wants profitably what are the 2 goals of marketing? correct answer: 1. discover (assess) the needs and wants of prospective customers 2. satisfy these needs & wants through EXCHANGE (each are better off after exchange) what are the 4 requirements for marketing to occur? correct answer: 1. two or more parties with unsatisfied needs 2. desire and ability to satisfy those needs 3. a way for the parties to communicate 4. something to exchange what are the 4 P's/controllable factors in solving a marketing mix/program? correct answer: 1. product 2. place 3. price 4. promotion customer is in center what are uncontrollable factors in solving a marketing program/mix? correct answer: competitive forces, regulatory forces, social forces, economic forces, technological forces what is customer value proposition? correct answer: what are we promising the customer? what is their benefit? what are key marketing issue? correc