MKTG 380 - TEST 1 JMU STUDY GUIDE
benefits - Answers -a desirable attribute of a product or service, which a customer
perceives they will get upon purchasing.
central concerns of marketing - Answers -1) to discover the needs & wants of
prospective customers
2) to satisfy customers
customer value proposiution - Answers -a cluster of benefits that an organization
promises customers to satisfy their needs.
features
marketing concept - Answers -the idea that an organization should 1) strive to satisfy
the needs of consumers while also 2) trying to achieve the organization's goals.
marketing mix - Answers -the controllable factors (4Ps - product, price, promotion, &
place) that the marketing manager can use to solve a marketing problem.
points of difference - Answers -those characteristics of a product that make it superior
to competitive substitutes.
requirements for marketing - Answers -1) 2 or more parities with unsatisfied needs
2) a desire & ability to satisfy these needs
3) a way for the parties to communicate
4) something to exchange
societal marketing concept - Answers -the view that organizations should discover and
satisfy the needs of consumers in a way that also provides for society's well-being.
target market - Answers -one of more specific groups of potential consumers toward
which an organization directs its marketing program.
ultimate consumer - Answers -the people who use the products & services purchased
for a household.
major challenge for marketing - Answers ------
business portfolio anaylysis - Answers -a technique that managers use to quantify
performances measure and growth targets of their firms strategic business units.
core competency - Answers -the main strengths, or strategic advantages, of an
organization; allows organizations to expand into new markets as well as provide a
significant benefit to customers.
benefits - Answers -a desirable attribute of a product or service, which a customer
perceives they will get upon purchasing.
central concerns of marketing - Answers -1) to discover the needs & wants of
prospective customers
2) to satisfy customers
customer value proposiution - Answers -a cluster of benefits that an organization
promises customers to satisfy their needs.
features
marketing concept - Answers -the idea that an organization should 1) strive to satisfy
the needs of consumers while also 2) trying to achieve the organization's goals.
marketing mix - Answers -the controllable factors (4Ps - product, price, promotion, &
place) that the marketing manager can use to solve a marketing problem.
points of difference - Answers -those characteristics of a product that make it superior
to competitive substitutes.
requirements for marketing - Answers -1) 2 or more parities with unsatisfied needs
2) a desire & ability to satisfy these needs
3) a way for the parties to communicate
4) something to exchange
societal marketing concept - Answers -the view that organizations should discover and
satisfy the needs of consumers in a way that also provides for society's well-being.
target market - Answers -one of more specific groups of potential consumers toward
which an organization directs its marketing program.
ultimate consumer - Answers -the people who use the products & services purchased
for a household.
major challenge for marketing - Answers ------
business portfolio anaylysis - Answers -a technique that managers use to quantify
performances measure and growth targets of their firms strategic business units.
core competency - Answers -the main strengths, or strategic advantages, of an
organization; allows organizations to expand into new markets as well as provide a
significant benefit to customers.
