BUAD 332 Exam 1 MOON Questions and Correct Answers

BUAD 332 Exam 1 MOON Questions and Correct Answers Marketing - Correct Answer managing profitable customer relationships Goals of Marketing - Correct Answer 1. Attract new customers by promising superior value 2. Keep and grow current customers by delivering customer satisfaction Need - Correct Answer state of felt deprivation (physical, social, individual) Want - Correct Answer a form that a human need takes as shaped by culture, individual personality, and marketers Demand - Correct Answer wants + buying power Market - Correct Answer the set of all actual and potential buyers of a product or service 2 Questions of Marketing Managers - Correct Answer 1. what customers will we serve? 2. how can we best serve these customers? Segmentation - Correct Answer divide the market into segments of customers Targeting - Correct Answer select the segments to cultivate Value Proposition - Correct Answer the set of benefits or values it promises to deliver to consumers to satisfy their needs What do customers never buy? - Corre