MAR3023 Study guides, Class notes & Summaries

price - Answer-the overall sacrifice a consumer is willing to make to acquire a specific product or service successful pricing strategies are built around the _______ __________ _____________ of ___________, we examine these in detail because each makes a significant contribution to formulating good pricing policies - Answer-five critical components (the five C's) of pricing profit oriented - Answer-institute a companywide policy that all products must provide for at least an 18% profit ma...

UF MAR3023 Exam 1 Solved 100% Correct!!

Exchange - correct answer Trade of things of value between buyer and seller so that each is better off after the trade. Marketing - correct answer Activity of creating, communicating, delivering and exchanging offerings that benefit the organization, its stakeholders, and society at large. Environmental Forces - correct answer Uncontrollable forces in a marketing decision involving social, economic, technological, competitive, and regulatory forces. Market - correct answer People with t...

What is Marketing? - correct answer To identify unmet consumer needs & then develop products that fill those needs & then develop products that fill those needs. Pure Marketing - correct answer Business function that develops the products that people want to buy because they know they need them and because they can afford them and because they can find them. (Don't have to advertise) Example of Pure Marketing - correct answer Coca Cola - It tastes good & delivers caffeine. Don't have to ...

Product advertisements take three forms: pioneering, ______, and reminder. A. competitive B. informational C. institutional D. recall - ANSWER -A. competitive Select the three primary objectives of product advertisements. A. to inform B. to persuade C. to target D. to identify E. to remind - ANSWER -A. to inform B. to persuade E. to remind Which form of advertising is especially important in the introductory stage of a product's life cycle to explain what it is, what it can do,...

What is a Product? - Good, service, or idea (or combination) What is a Good? - Tangible, physical entity What is a Service? - Intangible, result of application of human and mechanical efforts to people or objects What is an Idea? - Concept, philosophy, image, or issue What are the 2 types of Products? - 1. Consumer Products 2. Business Products What are Consumer Products? - Purchased to satisfy personal and family needs, and are classified according to how buyers generally behave when pu...

Promotion Mix - 1. Advertising 2. Personal Selling 3. Public Relations 4. Sales Promotion Advertising - is a paid, non-personal communication about an organization and its products transmitted to a target audience through mass media. Personal Selling - is a paid, personal communication that seeks to inform customers and persuade them to purchase products in an exchange situation. Public Relations - is a broad set of communication efforts used to create and maintain favorable relation...

5/28/2020 Midterm Exam: MAR3023 U02A 1205 Midterm Exam Due May 31 at 11:59pm Points 100 Questions 100 Available after May 11 at 12am Time Limit 180 Minutes Instructions Attempt History Attempt Time Score LATEST Attempt 1 72 minutes 98 out of 100 Score for this quiz: 98 out of 100 Submitted May 28 at 12:17am This attempt took 72 minutes. This exam includes multiple choice questions from Chapter 1-7. You may use only 1 attempt, using up to 180 minutes to complete the exam You will be ...

Notes covering chapter 6 and the new product development process

Notes covering Chapter 14 of Branding.