MKTG 350 Exam 1 USC with Accurate
Solutions
a group of customers with common problems to solve or needs to satisfy that have the
ability or authority to buy the product - ANSWER-market
creating value by developing a variety of offerings i.e. goods, services, ideas -
ANSWER-fundamental purpose of marketing
Product, Price, Place, Promotion - ANSWER-4 P's / Marketing Mix
everything a buyer is willing to give up in exchange for a product - ANSWER-Price
aka supply chain management, moving the product from manufacturer to the
customers, what stores it is sold, how it is stored and shipped - ANSWER-Place
business to business
consumer to consumer
business to consumer - ANSWER-B2B C2C B2C
society, customers, employees, supply chain - ANSWER-stakeholders impacted by
marketing
production oriented, sales oriented, marketing, value based - ANSWER-4 eras of
marketing
turn of the century when a good product would sell itself EX: henry ford and the car -
ANSWER-Production oriented era
1920's -50's when the great depression hit. Companies had inventory but no way to get
it off of the shelf - ANSWER-Sales oriented era
1950's-90's was the first time companies looked at what customers wanted so prices
and merchandise became competitive - ANSWER-marketing era
now, companies and products are ahead of the curve, before we get used to what we
have a new product has come out - ANSWER-value based era
sharing information, balancing benefits with costs, building customer relationships, and
managing those relationships - ANSWER-How firms become value driven
Solutions
a group of customers with common problems to solve or needs to satisfy that have the
ability or authority to buy the product - ANSWER-market
creating value by developing a variety of offerings i.e. goods, services, ideas -
ANSWER-fundamental purpose of marketing
Product, Price, Place, Promotion - ANSWER-4 P's / Marketing Mix
everything a buyer is willing to give up in exchange for a product - ANSWER-Price
aka supply chain management, moving the product from manufacturer to the
customers, what stores it is sold, how it is stored and shipped - ANSWER-Place
business to business
consumer to consumer
business to consumer - ANSWER-B2B C2C B2C
society, customers, employees, supply chain - ANSWER-stakeholders impacted by
marketing
production oriented, sales oriented, marketing, value based - ANSWER-4 eras of
marketing
turn of the century when a good product would sell itself EX: henry ford and the car -
ANSWER-Production oriented era
1920's -50's when the great depression hit. Companies had inventory but no way to get
it off of the shelf - ANSWER-Sales oriented era
1950's-90's was the first time companies looked at what customers wanted so prices
and merchandise became competitive - ANSWER-marketing era
now, companies and products are ahead of the curve, before we get used to what we
have a new product has come out - ANSWER-value based era
sharing information, balancing benefits with costs, building customer relationships, and
managing those relationships - ANSWER-How firms become value driven
