Marketing 3340 Study guides, Class notes & Summaries

Alternative Growth Strategies: • Marketing Penetration • Market Development • Product Development • Diversification Alternative Consolidation Strategies: • Harvesting • Pruning • Retrenchment • Divestment Final Exam Review Product Life Cycle: • Introduction • Growth • Maturity • Decline Branding: • Multiproduct vs. Multibranding • Private, Mixed, Sub-branding, Co-Branding • Line vs. Brand Extensions Final Exam Review Variables for Market Segment...

MARKETING 3340 FINAL EXAM WITH COMPLETE SOLUTIONS 100% MARKETING 3340 FINAL EXAM WITH COMPLETE SOLUTIONS 100%

The seven stages an organization goes through to identify business opportunities and convert them into salable products or services is referred to as the correct answersnew-product development process. The five stages a buyer passes through in making choices about which products and services to buy is called the correct answerspurchase decision process. Though definitions are inconsistent, Generation Y, and especially its younger members, are frequently associated with correct answersmille...

The primary role of marketing is to: - correct answer Generate profitable revenue A(n) __________ is a descriptive thought that a person has about something: - correct answer Belief Pat thought he had received the best deal on his new car. Shortly after buying the car, Pat started to notice certain disadvantages of his new car as he learned more about other cars available in the market. Pat is experiencing: - correct answer Post-purchase dissonance ________ marketing involve engag...

What elements are necessary for marketing to occur? - Answer- Two or more parties with unsatisfied needs The desire/ability to satisfy those needs A way for the parties to communicate Some sort of exchange What are the goals of marketing? - Answer- Discover/assess the needs/wants of prospective customers Satisfy those needs and wants through exchanges 4 P's of Marketing - Answer- Product, place, price, promotion (customer at the center) Evolution of Market Orientation - Answer- Pro...

Marketing 3340 Exam 2 (Summer SMU) Questions and Answers 100% Correct Marketing 3340 Exam 2 (Summer SMU) Questions and Answers 100% Correct Marketing 3340 Exam 2 (Summer SMU) Questions and Answers 100% Correct Fixed Costs - ANSWER-The sum of the expenses in a firm that are STABLE and DO NOT CHANGE WITH THE QUANTITY OF PRODUCT THAT IS PRODUCED AND SOLD Direct Channels - ANSWER-- producer and consumer deal directly with eachother - ex) Schwans Food Company - employed when ...

Market Segmentation - Aggregating consumers into groups that have similar needs and will be react similarly to a marketing action Product Differentiation - Involves the firm using different marketing mix actions such as product features and advertising, to help consumers perceive the product as being different and better than competing products Three market segmentation strategies - 1. One product and many segments 2.Multiple products in multiple segments 3. Mass customization Steps i...

Marketing 3340 Final Exam Question and answers correctly solved 2024Possession Utility - correct answer A factor of Utility (the benefits or costumer value received by users of the product) is the value of making an item easy to purchase through the provision of credit cards or financial arrangements. Possession Utility -- getting a product or service to consumer so they can own or use it -- accelerated in marketspace. e.g. Airline, car rental, and lodging electronic reservation systems. (O...

Marketing 3340 Final Exam Possession Utility - correct answer A factor of Utility (the benefits or costumer value received by users of the product) is the value of making an item easy to purchase through the provision of credit cards or financial arrangements. Possession Utility -- getting a product or service to consumer so they can own or use it -- accelerated in marketspace. e.g. Airline, car rental, and lodging electronic reservation systems. (Orbitz) Form Utility - correct answer A...

Fixed Costs - The sum of the expenses in a firm that are STABLE and DO NOT CHANGE WITH THE QUANTITY OF PRODUCT THAT IS PRODUCED AND SOLD Direct Channels - - producer and consumer deal directly with eachother - ex) Schwans Food Company - employed when buyers are large and well defined -products are often high unit and require hands on expertise - firms using this channel maintain their own sales fore and perform all channel functions Internet Marketing Channels - channels that employ t...