MKT FINAL EXAM
marketing - ANSWERthe process of creating, disrupting, promoting, and pricing goods,
services, and ideas to facilitate satisfying exchanges with customers and develop and
maintain favorable relationships with stakeholders in a dynamic environmental
target market - ANSWERproduct, place, price, and promotion
marketing concept - ANSWERa philosophy that an organization should try to provide
products that satisfy customers needs though a coordinated set of activities that also
allows the organization to achieve its goals
evolution of marketing supply - ANSWERdemand - supply- customer satisfaction
marketing orientated - ANSWERfirst, discover cutomer needs and create satsfying
products then coordinate all activities like organizational wide support
strategic planning - ANSWERthe process of establishing an organizational mission and
formulating goals, corporate strategy, marketing strategy and objectives, and a
marketing plan
SWOT - ANSWERassessment of an organizations strengths and weakness, and
opportunities and threats. An example would be LAYS chips - cholesterol
BCG (Boston Consulting Growth) - ANSWERstar; cash cow; question mark; dog
star - ANSWERhigh growth market; high in production growth and market share
cash cow - ANSWERlow in growth but high in market share
question mark - ANSWERhigh in growth but low in share
dog - ANSWERlow in growth and share
marketing strategies - ANSWERselect target market by identfying and analyzing
customer needs preferences and behavior. Then create marketing mix to satify needs of
target market
buying power - ANSWERresources, such as money, goods, and services, that can be
traded in an exchange
sources of buying power - ANSWERincome(disposable -buy necessities and discretion
-entertainment ) wealth and credit
prosperity - ANSWERBoom. unemployment down and spending up
recession - ANSWERdownsizing. unemplyment up and spending down
marketing - ANSWERthe process of creating, disrupting, promoting, and pricing goods,
services, and ideas to facilitate satisfying exchanges with customers and develop and
maintain favorable relationships with stakeholders in a dynamic environmental
target market - ANSWERproduct, place, price, and promotion
marketing concept - ANSWERa philosophy that an organization should try to provide
products that satisfy customers needs though a coordinated set of activities that also
allows the organization to achieve its goals
evolution of marketing supply - ANSWERdemand - supply- customer satisfaction
marketing orientated - ANSWERfirst, discover cutomer needs and create satsfying
products then coordinate all activities like organizational wide support
strategic planning - ANSWERthe process of establishing an organizational mission and
formulating goals, corporate strategy, marketing strategy and objectives, and a
marketing plan
SWOT - ANSWERassessment of an organizations strengths and weakness, and
opportunities and threats. An example would be LAYS chips - cholesterol
BCG (Boston Consulting Growth) - ANSWERstar; cash cow; question mark; dog
star - ANSWERhigh growth market; high in production growth and market share
cash cow - ANSWERlow in growth but high in market share
question mark - ANSWERhigh in growth but low in share
dog - ANSWERlow in growth and share
marketing strategies - ANSWERselect target market by identfying and analyzing
customer needs preferences and behavior. Then create marketing mix to satify needs of
target market
buying power - ANSWERresources, such as money, goods, and services, that can be
traded in an exchange
sources of buying power - ANSWERincome(disposable -buy necessities and discretion
-entertainment ) wealth and credit
prosperity - ANSWERBoom. unemployment down and spending up
recession - ANSWERdownsizing. unemplyment up and spending down
