Foundation
What is the activity of creating, communicating, and delivering offerings that has value for customers?
Marketing
What should a mission statement convey?
Who, Where, and Why
What is the most reliable form of data?
Primary
What two ways does technology affect marketing?
creates new products and processes
What are the three models of consumer behavior?
Cultural, social, Pyschological
What are the three things marketers need to understand about their customers in the exchange process?
Needs, Wants, Demands
What are the 3 elements of strategic planning?
Organization's objectives, Organizations capabilities, and Environment
What sampling method is the most time and cost efficient form of probability sampling?
Cluster sample
What are the five C's?
Collaborators, Competitors, Customers, Context, Company
What are the axis's of consumer buying behavior?
Involvement and Differentiation
What are four types of customer value?
Form, Time, Place, Possession (Utility)
What three analyses can organizations conduct to evaluate its capabilities and environment?
Swot analysis, Product portfolio analysis, and Growth strategy analysis
What are the three types of research design?
Exploratory, Descriptive, and Casual Research
This environment is made up of close forces that affect the company’s ability to serve its customers?
Micro environment
Which part of Maslow Hierarchy of needs does family fall under?
Esteem
What type of utility refers to the value added from altering a product or service?
Form Utility
Linkedin would be an example of what type of product under the BCG matrix for Microsoft?
Cash Cow Product
This method involves conducting experiments to determine cause and effect relationships?
Experimental research
What analysis help businesses understand the positive and negative impacts of various factors on their operations?
Context analysis
Proficiency
How universities has Professor Kim attended?
4
What is the riskiest strategy in the Ansoff Matrix?
Diversification
What is the nature of exploratory research design?
Understand a situation where a person has little knowledge
What limitation does pastel analysis have?
Does not include demographics as part of analysis
How would a buying behavior be classified that falls on the low involvement and few differentiation
Habitual buying behavior