Mar3023 Study guides, Class notes & Summaries

UCF MAR3023 Exam 4 Latest Update Already Passed price 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 five critical components (the five C's) of pricing profit oriented institute a companywide policy that all products must provid...

Mar3023 Exam 2 UCF Latest Update Already Passed Consumer Decision Process represents the steps that consumers go through before, during, and after making purchases Need Recognition The first step in the consumer decision process; can be classified as functional, physiological, or both. Functional Pertain to the Performance consumers associate with a product/service Psychological needs pertain to the personal gratification consumers associate with a product or service Informa...

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!!

MAR3023 Exam 2 Massiah- Graded A

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 ...

Consumer Decision Process - represents the steps that consumers go through before, during, and after making purchases Need Recognition - The first step in the consumer decision process; can be classified as functional, physiological, or both. Functional - Pertain to the Performance consumers associate with a product/service Psychological needs - pertain to the personal gratification consumers associate with a product or service Information Search - Second step of the buying process, ...

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...