BA 370 (BA370)

market saturation - Answer longer a product exists in the marketplace, the more likely it is that the market will become saturated reasons firms create new products - Answer changing customer needs market saturation managing risk through diversity fashion cycles improving business relationships diffusion of innovation - Answer process by which the use of an innovation spreads throughout a market group pioneers - Answer breakthroughs; first movers; establish ...

exchange rate - Answer the measure of how much one country's currency is worth in relation to another country's currency to assess economic analysis using metrics, you must look at ... - Answer general economic environment, market size and population growth, real income Marketers must adapt their global distribution strategies for developing countries because: - Answer foreign firms often cannot reach them easily, consumers lack adequate transportation to central sh...

Define price - Answer overall sacrifice a consumer is willing to make- money, time, energy- to acquire a specific product or service Name the 5 Cs of pricing - Answer 1. company objectives 2. customers 3. costs 4. competition 5. channel members Name 4 company objectives - Answer 1. profit-oriented 2. sales-oriented 3. competitor-oriented 4. customer-oriented Define profit orientation - Answer company objective that can be implemented by focusing on target ...

Hakim owns a beauty supply retail store that specializes in natural hair care products. Which of the following is true regarding the role of retail operations in the United States economy? - Answer A majority of retail operations are small businesses like Hakim's. A majority of retail operations are small businesses like Hakim's. (14-1) Hagan Automotive is owned by Sarah and David Hagan. It specializes in used, imported automobiles such as Audi, BMW, Mercedes, Porsche, and Volk...

price - Answer the overall sacrifice a consumer is willing to make to acquire a specific product or service; the most challenging of the 4 P's to manage b/c it's least understood; does NOT generate cost, but generates revenue break-even analysis - Answer technique that enables managers to examine the relationships among cost, price, revenue, and profit (assesses fixed costs, total costs, total revenue) break-even point - Answer point at which the number of units sol...

The processes by which goods, services, capital, people, information, and ideas flow across national borders are referred to as - Answer Globalization What are the 4 Fundamental Changes that have occurred as a result of Global Marketing? - Answer 1. Reduction or elimination of trade barriers by country governments 2. The decreasing of concerns of distance and time with regard to moving products and ideas across countries 3. The standardization of laws across borders 4. Globally...

Differentiation - Answer what makes a product unique & stand out to customer above other products Which of these is not a responsibility of marketing? - Answer - Full-filling product shipments Customers should be ideally at the center of the marketing process. - Answer True According to the most recent marketing mix, how many Ps are there in total? - Answer 7 P's Exchange - Answer A basic business function that takes place when a person or company sat...

Which of the following illustrates how marketing has a direct impact on consumers? - Answer Marketing helps consumers learn about new products and services. A service is different from a good in that the benefit is - Answer intangible When marketers communicate the value proposition, it involves the ________ element of the marketing mix. - Answer promotion According to your text, which of the following can be said regarding the use of social media in advertising? - Ans...

Integrated Marketing Communications (IMC) - Answer Represents the promotion dimension of the four Ps; encompasses a variety of communication disciplines—general advertising, personal selling, sales promotion, public relations, direct marketing, and electronic media—in combination to provide clarity, consistency, and maximum communicative impact. The Sender - Answer The firm from which an IMC message originates; must be clearly identified to the intended audience Ex. pepsi see...

center of marketing efforts - Answer consumer value based marketing - Answer provides greater value to consumer rather than competitors immediate environment in marketing (microenvironment) - Answer internal: competition company corporate partners (industry factors) macro environmental factors (CDSTEP) - Answer external: Culture Demographics Social Technology Economic Political/ Legal country culture - Answer easy to spot visible nuances that a...