MKTG

Marketing A philosophy, an attitude, a perspective, or a management orientation that stresses customer satisfaction. An organizational activity, set of institutions, and processes. Marketing Mix product, price, place (distribution), promotion Marketing concept the idea that the social and economic justification for an organization's existence is the satisfaction of customer wants and needs while meeting organizational objectives Corporate social responsibility a busi...

MKTG 351 - EXAM QUESTIONS WITH 100% CORRECT ANSWERS|GUARANTEED SUCCESS

CSUF MKTG 351 SPRING 2020 EXAM 2 REVIEW| 52 QUESTIONS AND ANSWERS

Marketing 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​ Primary Focus of Marketing satisfying customers' needs and wants. Customer wants, backed by buying power, creates demand. Two Facets​ of Marketing (1). It is a philosophy, an attitude, a perspective, or a management orientation that stresses customer satisfaction​. (2). It is an...

Pricing One of the 4 P's; Of the 4 P's, this one is the most unique in that: 1. It's the only one that is revenue-generating 2. Has a direct effect on revenue But companies often focus so much on this that they lose sight of their product's quality Pricing in Different Types of Markets Based on market and demand factors; 4 types: 1. pure monopoly 2. monopolistic competition 3. oligopolistic competition 4. pure competition Pure monopoly Single seller in marketplace; ...

States that it is legal to spam, provided: - Spammers do not disguise their identity - Emails are labelled specifically - Recipients are able to unsubscribe to future mails - Controlling the Assault of Non-Solicited Pornography and Marketing (CANSPAM) Act The technique that defines the scope of an information system by identifying the business process it will affect: Functional decomposition Customer relationship management (CRM) and product life cycle (PLM) are common types ...

new-product strategy a plan that links the new-product development process with the objectives of the marketing department, the business unit, and the corporation brainstorming (Idea generation) the process of getting a group to think of unlimited ways to vary a product or solve a problem screening (Idea screen) the first filter in the product development process, which eliminates ideas that are inconsistent with the organization's new-product strategy or are obviously inapprop...

What is marketing? satisfying customer needs and wants What are the 4 philosophies of marketing? product, sales, market, and social marketing orientation 4 marketing philosophies: Sales Orientation focuses on the the capabilities of sales people to push product 4 marketing philosophies: Market orientation focuses on the needs and wants of the customer 4 Marketing Philosophies: Societal Marketing Orientation Focuses on needs and wants of customer and society ...

target market the segment a company chooses to serve true segments can be categorized as: age, gender, location, purchasing powers, etc. substantiality each segment should be large enough that a meaningful marketing strategy cab be devised to be profitable measurability the importance of assessing the size of segments that marketers want to target as it is the starting point for developing a marketing strategy accessibility segments should be reachable dem...

Consumer Behavior processes a consumer uses to make purchase decisions, as well as to use and dispose of purchased goods or services; also includes factors that influence purchase decisions and product use Consumer Decision-Making Process a five-step process used by consumers when buying goods or services Need Recognition result of an imbalance between actual and desired states Want the way a consumer goes about addressing a need Stimulus any unit of input affect...