BUS2 130, Exam 1, SJSU Questions and
Answers 100% Solved | Graded A+
Marketing's role within a firm - ✔✔Marketing should be a profitable
investment that forces business to confront uncertainty in the environment,
like
changes in consumer tastes or
changes in regulations.
What is the overall plan for marketing strategy? - ✔✔segmentations,
targeting, positioning
Marketing Mix (4 P's) - ✔✔product, pricing,
place (distribution),
promotion (communication).
Needs - ✔✔states of felt deprivations.
Biogenic Needs - ✔✔needs present at birth.
Psychogenic Needs - ✔✔needs learned in the process of enculturation
(belonging, self expression, knowledge acquisition, etc)
Wants - ✔✔options used to fill needs
1
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
, Demands - ✔✔wants backed by consumer buying power.
Customer Equity - ✔✔The sum of the lifetime values of all a company's
current and potential customers. companies must manage it carefully, and
view customers as assets that need to be maximized.
It is dependent upon customer loyalty from a firm's profitable customers.
It is a reflection of a company's future.
In order to acquire new customers, companies must consider: - ✔✔the
values of customers and the acquisition of costs
the current value of a customer is a complex formula that includes: -
✔✔Gross profit (revenue-costs of goods sold);
Cost of maintaining customer;
Discount rate (considered for each year of expected revenue from that
customer); Cost of acquiring new customers
Strategic Planning - ✔✔The process of developing and maintaining a
strategic fit between the organization's goals and capabilities and changing
marketing opportunities
Mission Statements - ✔✔Lead to setting business and marketing
objectives/goals, and guide decisions regarding what portfolio of
businesses and products is best for the company.
2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
Answers 100% Solved | Graded A+
Marketing's role within a firm - ✔✔Marketing should be a profitable
investment that forces business to confront uncertainty in the environment,
like
changes in consumer tastes or
changes in regulations.
What is the overall plan for marketing strategy? - ✔✔segmentations,
targeting, positioning
Marketing Mix (4 P's) - ✔✔product, pricing,
place (distribution),
promotion (communication).
Needs - ✔✔states of felt deprivations.
Biogenic Needs - ✔✔needs present at birth.
Psychogenic Needs - ✔✔needs learned in the process of enculturation
(belonging, self expression, knowledge acquisition, etc)
Wants - ✔✔options used to fill needs
1
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
, Demands - ✔✔wants backed by consumer buying power.
Customer Equity - ✔✔The sum of the lifetime values of all a company's
current and potential customers. companies must manage it carefully, and
view customers as assets that need to be maximized.
It is dependent upon customer loyalty from a firm's profitable customers.
It is a reflection of a company's future.
In order to acquire new customers, companies must consider: - ✔✔the
values of customers and the acquisition of costs
the current value of a customer is a complex formula that includes: -
✔✔Gross profit (revenue-costs of goods sold);
Cost of maintaining customer;
Discount rate (considered for each year of expected revenue from that
customer); Cost of acquiring new customers
Strategic Planning - ✔✔The process of developing and maintaining a
strategic fit between the organization's goals and capabilities and changing
marketing opportunities
Mission Statements - ✔✔Lead to setting business and marketing
objectives/goals, and guide decisions regarding what portfolio of
businesses and products is best for the company.
2
©JOSHCLAY 2024/2025. YEAR PUBLISHED 2024.
