Buad 332 Study guides, Class notes & Summaries

What is the simple definition of marketing? - Answer-managing profitable customer relationships goals of marketing activity - Answer-1. Attract new customers by promising superior value 2. Keep and grow current customers by delivering customer satisfaction Define Marketing - Answer-A social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. Simple Model of the Marketing Process - Answer-C...

What is direct marketing? - Answer- connecting directly with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships what are some forms of direct marketing? - Answer- - face-to-face selling (special type of direct marketing) - direct-mail marketing - catalog marketing - telemarketing - direct-response television marketing - kiosk marketing - new digital technologies - online marketing define direct mail marketing - A...

BUAD 332 FINAL (CHAPTERS 14-16 INCLUDING FORCASTING AND S&OP 1-2)

Narrowly, what is a price? - Answer-Narrowly, price is the amount of money charged for a product or service Broadly, what is a price? - Answer-Broadly, price is the sum of all values that consumers exchange for the benefits of having or using the product or service Price is not just money, think of price as - Answer-sacrifice Example of price - Answer-$88 boots from amazon versus exact same pair at Dillards for $88 as well. The price here is wait-time, trying them on, or convenience. The ...

price definition: narrowly - the amount of money charged for a product or service price definition: broadly - the sum of all the values that consumers exchange for the benefits of having or using the product or service internal factors affecting price decisions - marketing objectives marketing mix strategies costs organizational considerations external factors affecting price decisions - nature of the market and demand competition other environmental factors (economy, gov, resellers, so...

SNHU BUAD 332 Exam 3 Complete A+ Graded Solutions Rated A Southern New Hampshire University.

direct marketing - connecting directly with carefully targeted individual consumers WHY?: to obtain an immediate response and cultivate lasting customer relationships direct mail marketing - LARGEST DIRECT MARKETING MEDIUM involves an offer, announcement, reminder, or other item to a person at a particular address -personalized -newer digital forms -effective -often perceived as "junk mail' catalog marketing - direct marketing through print, video, or digital catalogs that are mailed t...

Narrowly, what is a price? - Answer- Narrowly, price is the amount of money charged for a product or service Broadly, what is a price? - Answer- Broadly, price is the sum of all values that consumers exchange for the benefits of having or using the product or service Price is not just money, think of price as - Answer- sacrifice Example of price - Answer- $88 boots from amazon versus exact same pair at Dillards for $88 as well. The price here is wait-time, trying them on, or conve...

what are some factors that are changing the face of marketing communications? - Answer- - consumers are differently/better informed and more communications empowered - mass markets have fragmented, leading to a shift away from mass marketing - changes in communications technology have created new media for interacting with targeted consumers what are firms doing as a response to this changing environment? - Answer- - less broadcasting and more narrowcasting - granular audience - smaller ...

consumer buying behavior - the buying behavior of people who buy goods and services for personal use. these people create the consumer market How do consumers respond to various marketing efforts the company might use? - central question for marketers Simple Model of Consumer Buying Behavior (3 categories) - 1. Marketing and other stimuli 2. Buyer's black box 3. Buyer's response Simple Model of Consumer Buying Behavior (marketing & other stimuli) - Market-product, place, price, promoti...