Mkt 30 Study guides, Class notes & Summaries

Brand Elements - Answer--Understand essential aspects of a brand -Elements that help distinguish one brand - Brand Names, website, characteristics, logos, slogans, Color Schema Brands - Answer--Are the touch points to consumers -Promise to deliver specific benefits with products of services to consumers Brand Definition - Answer-A name, team, sign, symbol, or design, ot combination of them, intended to identify the goods or services of one seller or group of sellers and to differentiate...

Describe the purpose of marketing - Answer-Marketing is a process designed to plan for, create, communicate, and deliver value to customers. Builds effective customer relationships that benefit an organization. Marketing mix - Answer-Product, Price, Place, Promotion are all utilized in different ways to target specific markets. Demographics - Answer-The characteristics of a population with respect to age, race, and gender. Not sufficient to make a connection with the audience. Psychogra...

Marketing - Answer-an organizational function and collection of processes designed to plan for, create, communicate, and deliver value to customers and build effective customer relationships Concept of Exhange - Answer-Requires two or more parties; something of value; desire; freedom to accept or reject; 4P's (Marketing Mix) - Answer-Product Price Promotion Place(distribution) Demographics - Answer-group people by similar characteristics Psychographics - Answer-differences: indiv...

Product - The need-satisfying offering of a firm Customer Satisfaction - The extent to which a firm fulfills a consumers' needs, desires and expectations Innovation - The development and spread of new ideas, goods and services Economies of Scale - As a company produces larger numbers of a particular product, the cost of each unit of the product goes down Production Era - A time when a company focuses on production of a few specific products - perhaps because few of these products are ava...

(Combined) Chapter 20 Quiz Questions, MKT 300 Exam 3- Ch. 12, Chapter 19 Marketing Final, MKT321_CH20, Chap 19 Practice Questions, Foundations of Marketing Ch. 15, Mktg chapter 15, TAMU MKTG 321 Chapter 15 (Retailing, Direct Marketing, and Wholesaling), All With Complete Solutions 2024. Reference pricing is pricing a product at a moderate level and positioning it next to a more expensive model or brand What type of pricing strategy is used in a situation where the seller has an ethical resp...

Marketing Defined - the process of creating, pricing, distributing, and promoting goods, services, and ideas to facilitate satisfying exchange relationships with customers in a dynamic environment AMA 2004 definition - Marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders 4 P's - Product - Goods, services, or ideas that s...

MKT 301 STUDY GUIDE EXAM LATEST UPDATE...

After a company decides to go global what is there very next decision? - Answer-the next decision should be what is our level of involvement going to be? Customization - Answer-context of international marketing to a country-tailored product strategy which focuses on cross-border differences in the needs and wants of target customers, appropriately changing products in order for them to match local market conditions. International Levels of Involvement - Answer-Exporting Contractual Agreem...

Define marketing and identify the diverse factors that influence marketing actions. - ANSWER marketing is an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. this definition relates to 2 primary goals of marketing: discovering the needs of prospective customers and satisfying them. explain how marketing discovers and satisfies con...

MKT 3010 Exam Questions & Answers Business to Business Marketing (B2B) - CORRECT ️️ the process of buying and selling goods or services to be used in the production of other goods and services, for consumption by the buying organization, or for resale by wholesalers and retailers B2B vs. B2C - CORRECT ️️ going to publix and buy lemons to make lemonade vs. going to publix and buy lemons to make lemonade that will be used to make lemonade in a stand B2B Markets - CORRECT ️️ res...