ARE FINAL EXAM QUESTIONS & ANSWERS 2024/2025

ARE FINAL EXAM QUESTIONS & ANSWERS 2024/2025 What are the 5 steps of the marketing process? - ANSWERS1. Understand the marketplace and customer needs and wants 2. Design a customer value-driven marketing strategy 3. Construct an integrated marketing program that delivers superior value 4.Engage customers, build profitable relationships and create customer delight. 5. Capture value from customers to create profits and customer equity. What are the four P's? - ANSWERSProduct Price Placement Promotion What are the four quadrants of the BCG(Boston Consulting Group) growth? - ANSWERSCash cow Dog Question Mark Star Model of Consumer Behavior - ANSWERS-The Environment -Buyers Black Box -Buyer Responses Factors that Influence consumer behavior - ANSWERS-cultural (culture, subculture, social class) -social (groups and social networks) - personal(age and lifecycle stage, Occupation, economic situation lifestyle, personality and self concept) -psychological (motivation, perception, learning, beliefs and attitudes)