MARK 3000 Final Exam Cumulative Study Guide
MARK 3000 Final Exam Cumulative Study Guide Marketing - Correct ️️ Is 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 and its stakeholders Value - Correct ️️ Ratio what is given up for what is obtained; both parties must believe they are getting value for exchange to take place Marketing mix: 4 P's - Correct ️️ 1. Product 2. Price 3. Promotion 4. Place Product - Correct ️️ Creating value - Through a variety of offerings, including goods, services, and ideas to satisfy customer needs Price - Correct ️️ Capturing value - Price is everything a buyer gives up (money, time, energy) - Must be amount customer willing to pay which gives a profit Promotion - Correct ️️ Communicating value - Communication that informs, persuades, and reminds potential buyers about a product or service to influence their opinions or elicit a response Place - Correct ️️ Delivering the value proposition - Place, or supply chain management - All activities needed to get the product to the right customer when the customer wants it Corporate orientations: production - Correct ️️ - Focus is on internal capability and technology
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- December 23, 2023
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- 2023/2024
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