MRKTNG 3000 - Study guides, Class notes & Summaries

Discount And Allowance Pricing - Answer Adjustment Strategy where companies adjust their prices in order to reward customers (examples: early payment of bills, volume purchases, off-season buying) Cash Discount - Answer price reduction to those who pay in cash Quantity Discount - Answer Price reduction to buyers who buy large volume Noncumulative quantity - Answer given for a single purchase (Buy One Get One Free) Cumulative quantity discount - Answer Di...

Major Advertising Decisions - Answer Objectives Setting Budget Decisions Message Decisions Media Decisions Campaign Evaluation -- Message Decisions and Media Decisions lead to campaign evaluation Advertising Objectives - Answer - specific communication task - accomplished with specific target audience - during a specific period of time Consists of: - Informative Advertising - persuasive advertising - comparison advertising - reminder advertising Informative Adver...

Channel members - Answer Distributors, intermediaries, resellers, or middlemen. Membership includes wholesalers (who sell to other intermediaries) and retailers (who sell to consumers) Functions of channel members - Answer Transactional, logistical, facilitation functions Transactional functions - Answer Contacting and promoting products to potential customers. Logistical functions - Answer Provided through the physical distribution, storing, and sorting of goods...

What does every decision process start with? - Answer buyer need recognition What are the steps in the consumer buying process? - Answer Problem recognition -> Information search -> Evaluation of alternatives -> Purchase decision -> Post purchase behavior What are innate needs? - Answer physiological needs (aka biogenic/primary needs) for food, water, air, clothing, shelter, and sex other innate needs: social interaction, medication, SLEEP What are acq...

Consumer Behavior - Answer how buyers make purchase decisions Social Factors of Consumer Buying Process - Answer Family- most important group influence (trends: wives-outside home, husbands-inside home, children-influence family purchases) Reference Groups- groups that serve to influence buying behavior (opinion leaders- Warren buffet, aspirational group influence-buying shoes like Lebron James) Role and Status- person's role in a group may influence buying behavior Cu...

What is marketing? - Answer the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services in exchanges that satisfy individual and organizational objectives. What is the scope of marketing/to what situations can marketing be applied? - Answer To make $$ What is marketings first task? - Answer Discover customer needs What is marketings second task? - Answer Satisfying customer needs What is the marketin...

Marketing: - Answer "Study of exchange"; academic def: learning about marketing from the perspectives of the business and the customer; functional def: facilitation of exchange; long def: the process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods and services to create exchanges that satisfy the individual and organizational objectives Given exchange definition, what are the requirements that define the scope of marketing? - Answer ...

Marketing 3000 midterm chapters 1-7 questions with verified answers

MRKTNG 3000 Exam 2 2025/2026 Exam Questions and Detailed Answers | Get it 100% Correct Answers Consumer Behavior -

MRKTNG 3000 EXAM 2 QUESTIONS WITH CORRECT ANSWERS ...