Mktg 3340 Study guides, Class notes & Summaries
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MKTG 3340 (Chaoqun Chen) Exam 1 Review Question and answers 100% correct 2024
- Exam (elaborations) • 51 pages • 2024
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MKTG 3340 (Chaoqun Chen) Exam 1 Review Question and answers 100% correct 2024 
What is marketing? 
a set of processes for creating, communicating and delivering value to customers and for managing customer relationship in ways that benefit the organization and its stakeholders. 
 
 
four requirements for marketing to occur 
1.) Two or more parties (individuals or organizations) with unsatisfied needs 
2.) A desire and ability to satisfy those needs 
3.) A way for the parties to communicate 
4.) ...
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MKTG 3340 Question and answers already passed 2024
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MKTG 3340 Question and answers already passed 2024 
Alternative Growth Strategies: 
Marketing Penetration - correct answer increase of sales of current products in existing markets, focus on advertising, promotion, and price reductions 
 
Alternative Growth Strategies: 
Market Development - correct answer sell existing products to new markets (demographic segments or geographic markets) focus on distribution 
 
Alternative Growth Strategies: 
Product Development - correct answer sell a new pr...
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MKTG 3340 EXAM 1
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MKTG 3340 EXAM 1
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MKTG 3340 Final Exam 2023/2024 passed
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MKTG 3340 Final Exam 
Role of MKTG 
generate profitable revenue 
 
 
When a marketer can describe something/write it down it is called a 
Product Concept 
 
 
 
Brainpower 
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After buying an item we experience what? 
Cognitive dissonance/buyer's remorse 
 
 
cognitive dissonance 
buyer discomfort caused by post purchase conflict 
 
 
Ways to engage consumers, directly 
physically, email newsletters, one to one basis 
 
 
ways to engage consumers indirectly 
social media, PR, search eng...
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MKTG 3340 Final Review Study Test 2024.
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MKTG 3340 Final Review Study Test 2024. 
When a feature satisfies a need or want, then there is a _____. 
 
reduction of hassle 
hike in price 
level of high quality 
benefit 
tangible value - correct answer benefit 
 
A product-dominant approach to marketing is based on the belief that: 
 
sales personnel and marketing can drive consumerism. 
the best way to capture market share is to create and manufacture better products at lower prices. 
enjoyment of a product and its disposal are important ...
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MKTG 3340 Exam 2 Practice Test 2024.
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MKTG 3340 Exam 2 Practice Test 2024. 
Market Segmentation - correct answer aggregate consumers into groups (segments) that have similar needs and will react similarly to a marketing action 
 
Segmentation Strategies - correct answer - 1 product w/ multiple target segments (Johnson shampoo for dogs or babies, tums for calcium or antacid) 
- multiple products/ multiple segments (utility mini van vs. excitement sports car) 
- mass customization (dell built to order laptop) 
 
Criteria for effective...
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MKTG 3340 Final Study Guide Exam 2024.
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MKTG 3340 Final Study Guide Exam 2024. 
marketing 
the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large 
 
 
primary goals of marketing 
1.) discover the needs and wants of customers 
2.) satisfy them 
 
 
 
Brainpower 
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Previous 
Play 
Next 
Rewind 10 seconds 
Move forward 10 seconds 
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0:15 
Full screen 
What is needed for marketing to oc...
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MKTG 3340 EXAM 2 QUESTIONS AND ANSWERS 100% VERIFIED
- Exam (elaborations) • 11 pages • 2023
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MKTG 3340 EXAM 2 QUESTIONS AND ANSWERS 100% VERIFIEDMKTG 3340 EXAM 2 QUESTIONS AND ANSWERS 100% VERIFIEDMKTG 3340 EXAM 2 QUESTIONS AND ANSWERS 100% VERIFIED 
 
how does idea generation play a role in the new product development process? - ANSWER-new product development process: strong new product planning, systematic and customer driven for finding and growing new products 
 
STEPS: 
1. idea generation 
2. idea screening 
3. concept development and testing 
4. marketing strategy development 
5. ...
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MKTG 3340 Final – exam 2024 with 100% correct answers
- Exam (elaborations) • 13 pages • 2023
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What are Some Errors in Communication? - correct answer sources may not adequately transform the abstract idea into an effective set of symbols 
 
a properly encoded message may be first sent through the wrong channel and never make it to the intended receiver 
 
the receiver may not properly transform the set of symbols into the correct abstract idea 
 
feedback may be so delayed or distorted that it is of no use it the sender 
 
Encoding - correct answer process of having the sender trans...
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MKTG 3340 EXAM 1 Questions with complete solution 2024
- Exam (elaborations) • 15 pages • 2024
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MKTG 3340 EXAM 1 Questions with complete solution 2024 
what is marketing? - correct answer the management process involved in identifying, anticipating, and satisfying customer wants profitably 
 
what are the 2 goals of marketing? - correct answer 1. discover (assess) the needs and wants of prospective customers 
2. satisfy these needs & wants through EXCHANGE (each are better off after exchange) 
 
what are the 4 requirements for marketing to occur? - correct answer 1. two or more parties wi...