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11 Cards in this Set
- Front
- Back
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What does a marketing strategy consist of?
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Selecting a target market and developing a marketing mix to satisfy that market's needs.
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What is a marketing mix?
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The overall marketing offer to appeal to the target market. It consists of the 4 Ps (price, product, promotion, and place or distribution)
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Marketing competition is primarily based upon?
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Need identification and satisfaction.
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What is marketing?
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Executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges that satisfy individual or organizational goals.
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What is a selling philosophy?
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When an organization values selling the most.
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What is a marketing philosophy?
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When the organization focuses on satisfying the customer.
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What does the marketing concept consist of?
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1. satisfy customer needs.
2. requires integrated and coordinated efforts 3. focus on long term success |
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What is marketing as a societal process?
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A process that facilitates the flow of goods and services from producers to consumers.
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What is an exchange?
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The transfer of something tangible or in tangible, actual or symbolic, between two or more social actors.
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What is a production philosophy?
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When an organization emphasizes the production function.
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What are the four marketing institutions?
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Retailers
Wholesalers Marketing Research Firms Advertising Agencies |
