UCF MAR 3023 Exam 1 Review QUESTIONS WITH ANSWERS

UCF MAR 3023 Exam 1 Review QUESTIONS\| \| \| \| \| \| \|




WITH ANSWERS \|




An organizational function and a set of processes for creating,
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capturing, communicating, and delivering value to customers and
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for managing customer relationships in ways that benefit the
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organization and its stakeholders. - CORRECT ANSWERS \| \| \| \| \| \| \|


✔✔Marketing


A written document composed of an analysis of the current
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marketing situation, opportunities and threats for the firm,
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marketing objectives and strategy specified in terms of the four
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Ps, action programs, and projected or pro forma income (and
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other financial) statements. - CORRECT ANSWERS ✔✔Marketing
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Plan


The trade of things of value between the buyer and the seller so
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that each is better off as a result. - CORRECT ANSWERS
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✔✔Exchange


Core Aspects of Marketing ... - CORRECT ANSWERS ✔✔Product,
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Price, Place, Promotion (4 P's)\| \| \| \|




Creating value - CORRECT ANSWERS ✔✔Product
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Capturing value - CORRECT ANSWERS ✔✔Price \| \| \| \| \|

, Delivering value - CORRECT ANSWERS ✔✔Place
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Communicating value - CORRECT ANSWERS ✔✔Promotion \| \| \| \| \|




B2C - CORRECT ANSWERS ✔✔Business-to-consumer marketing
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B2B - CORRECT ANSWERS ✔✔Business-to-business marketing
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C2C - CORRECT ANSWERS ✔✔Consumer-to-consumer marketing
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Evolution of marketing ... - CORRECT ANSWERS ✔✔Production
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(1900-1920), Sales (1920-1950), Marketing (1950-1990), Value-
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based marketing (1990-Present)
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Importance of marketing ... - CORRECT ANSWERS ✔✔Can be
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entrepreneurial, expands global presence, pervasive across \| \| \| \| \| \|


channel members, enriches society
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The group of firms that make and deliver a given set of goods
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and services. - CORRECT ANSWERS ✔✔Supply Chain
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A firm's target market, marketing mix, and method of obtaining
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a sustainable competitive advantage. - CORRECT ANSWERS
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✔✔Marketing Strategy \|