Which element of the marketing mix is most relevant to the activity “creating value”?
the age of its target market
. which kinds of stores to open.
What consists of the product price place and promotion of an offering?
The four Ps are the four essential factors involved in marketing a good or service to the public. These are the four Ps: the product (the good or service), the price (what the consumer pays), the place (the location where a product is marketed), and
promotion (the advertising)
.
Which of the marketing mix variables represents all the activities necessary to get the right product to the right customer when the customer wants it?
| Question Answer | Which of the marketing mix variables represents all the activities necessary to get the right product to the right customer when the customer wants it? Place | When marketers communicate the value proposition, it involves the _____ element of the marketing mix. promotion |
|---|
What is one of the core practices among value oriented marketers quizlet?
Which of the following is one of the core practices among value-oriented marketers?
Keep information confidential, not sharing it among the firm’s different departments
. Constantly measure benefits that customers receive against the costs of offerings.
Which of the following is one of the major considerations involved when a company develops its marketing strategy?
Which of the following is one of the major considerations involved when a company develops its marketing strategy?
Identification of target markets
.
What is a core aspect of marketing?
Marketing. creating, capturing, communicating, delivering, & exchanging offerings that have value. Core Aspects of Marketing (1)
Satisfying Customers needs/wants
. -Begins with customer needs and wants.
What is the name of the process in which customers collaborate?
Co-creation
, in the context of a business, refers to a product or service design process in which input from consumers plays a central role from beginning to end. Less specifically, the term is also used for any way in which a business allows consumers to submit ideas, designs or content.
What are the 4 selling strategies?
- 1) People Buy Benefits. …
- 2) Clearly Define Your Customer. …
- 3) Identify the Problem Clearly. …
- 4) Develop Your Competitive Advantage. …
- 5) Use Content and Social Media Marketing to Your Advantage. …
- 6) Sometimes, You Will Have to Cold Call.
What is product mix strategy?
What is a Product Mix Strategy? A successful product mix strategy
enables a company to focus efforts and resources on the products and product lines within its offerings
that have the greatest potential for growth, market share, and revenue.
What are the 4 types of marketing strategies?
- Cause Marketing. Cause marketing, also known as cause-related marketing, links a company and its products and services to a social cause or issue.
- Relationship Marketing. …
- Scarcity Marketing. …
- Undercover Marketing.
What are the three major phases of a marketing plan?
The strategic marketing process involves an organization allocating its marketing mix resources to reach its target markets using three phases:
planning, implementation, and evaluation
.
Which of the marketing mix variables represents all the activities?
| Question Answer | Which of the marketing mix variables represents all the activities necessary to get the right product to the right customer when the customer wants it? Place | When marketers communicate the value proposition, it involves the _____ element of the marketing mix. promotion |
|---|
Socially responsible firms
recognize that including a strong social orientation in business is a sound strategy that is in both its own and its customers’ best interest.
What is the first step in the strategic training and development process?
2.31 The first step in the strategic, training and development process is
to identify metrics to determine if training will be successful
. 2.32 Internal analysis involves identifying opportunities and threat.
Which of the following is one of the four basic growth strategies in marketing?
There are four basic growth strategies you can employ to expand your business:
market penetration, product development, market expansion and diversification
.
What is the fundamental goal of marketers when creating products?
The fundamental purpose of Marketing is
to create value by developing a variety of offerings, including goods, services, and ideas
, to satisfy customer needs.
