MAR 3407 Quiz 1 with correct answers 100% 2026

MAR 3407 Quiz 1 with correct answers 100% 2026 Marketing - Correct Answer the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large Marketing strategy - Correct Answer Defines which customers you're going after and how you'll influence them. Marketing plan - Correct Answer Outline specific steps to implement your strategy Marketing planning first - Correct Answer 1. Starts around middle of fiscal year 2. Each team develops revenue forecasts 3. Each team develops budget for marketing 4. Reports are combined into company level reports Business planning first - Correct Answer 1. Develop overall revenue and spending goals 2. Goals are divided amongst marketing teams 3. Team develop marking plans to achieve company goals. Marketing planning process phases - Correct Answer Analysis phase, tactical phase, strategy phase and measurement phase Analysis phase - Correct Answer -Learn how and why customers buy -Analyze competition -Analyze overall market Strategy phase - Correct Answer -Make decisions -Segmenting the market - Targeting specific parts of segment -Product positioning Tactical phase - Correct Answer -Create marketing programs to execute strategy -Make decisions about product/services -Set prices -Create sales support material Measurement phase - Correct Answer -Compare achievements to expectations -Study customers and their behaviors -Helps you know if you're getting a good return on your marketing investments Finance team - Correct Answer -Ensures sufficient dollars to execute plan -crucial in measurement plan -Help determine return on marketing investment (ROMI) Marketing Research Team - Correct Answer -Understand customer needs -Testing products and advertising