Mar 3023 Study guides, Class notes & Summaries

MAR 3023 Exam 5 Questions And Answers...

Core Product Benefits - basic level of benefits that the product has to offer to fit into the product category (ex. drill must drill holes) Expected Product Benefits - beyond the core benefits that consumers expect from the product (ex. durability, warranty, reliability, fair price, etc) Augmented Product Benefits - beyond what customer expects & thus beyond what the competition provides (ex. replacing a 30 year old drill, Ford app) Product Features - aspects that are built in to the produ...

UCF MAR 3023 Exam 1 – Massiah Questions and Answers Already Passed Value is what you get for what you give. True Serena studies her customer profiles, market research data, complaints, and other information, attempting to better understand what her customers want. Serena most likely operates in the __________ era of marketing. Value-Based Marketing Four Winds Art Gallery recently began offering appraisals of customers' art collections, in addition to continuing to sell paintings....

Which of the following are associated with marketing, as defined by the American Marketing Association? (Choose every correct answer.) Multiple select question. a.) Organizations that develop industry partnerships for international outsourcing b.) Institutions that facilitate the exchange of offerings that have value for customers c.) Institutions that implement technologies for increased production efficiency d.) Activities that communicate offerings that have value for society at large ...

UCF MAR 3023 Exam 1 Review Latest Update Graded A+ Marketing An organizational function and a set of processes for creating, capturing, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders. Marketing Plan A written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four Ps,...

UCF MAR 3023 Exam 4 Review (Ch. 14- 17) Latest Version Graded A+ What is the definition of *price*? The overall sacrifice a consumer is willing to make— money, time, energy—to acquire a specific product or service. What are the 5 C's of Pricing? Competition, Costs, Company Objectives, Customers, Channel Members What is *Profit-Orientation*? A company objective that can be implemented by focusing on target profit pricing, maximizing profits, or target return pricing. What i...

UCF MAR 3023 EXAM 2 GUIDE WITH VERIFIED ANSWERS Consumer Decision Process 1. Need Recognition 2. Information Search 3. Alternative Evaluation 4. Purchase and Consumption 5. Post Purchase need recognition The first stage of the buyer decision process, in which the consumer recognizes a problem or need. functional needs pertain to the performance of a product or service psychological needs pertain to the personal gratification consumers associate with a product or service s...

UCF MAR 3023 Exam 5 Review (Ch 18, 19, 20, 3) Questions and Answers Graded A+ What is *Integrated Marketing Communications (IMC)*? Represents the promotion dimension of the four Ps; encompasses a variety of communication disciplines—general advertising, personal selling, sales promotion, public relations, direct marketing, and electronic media—in combination to provide clarity, consistency, and maximum communicative impact. What is *Objective-and-Task Method*? An IMC budgeting m...

UCF MAR 3023 Exam 3 Review (Ch. 9 -13 Study Guide) Questions and Answers Already Passed What are the 5 steps of STP Analysis? 1. Establish Strategy or Objectives 2. Use Segmentation Methods 3. Evaluate Segment Attractiveness 4. Select Target Market 5. Identify and Develop Positioning Strategy Step 1: Establish Overall Strategy or Objectives The first step in the segmentation process is to articulate the vision or objectives of the company's marketing strategy clearly. The segmen...

Mar 3023 UCF Exam 2 Review with Complete Solutions