New Notes

Marketing - Answer managing profitable customer relationships Goals of Marketing - Answer 1. Attract new customers by promising superior value 2. Keep and grow current customers by delivering customer satisfaction Need - Answer state of felt deprivation (physical, social, individual) Want - Answer a form that a human need takes as shaped by culture, individual personality, and marketers Demand - Answer wants + buying power Market - Answer the set of all actual and potential buyers of a pr...

Supply chain management - correct answer the art of managing the flow of materials and products, information, and financial resources from source to user Who are the key participants and the primary processes in a supply chain - correct answer - Suppliers - Manufacturers - Distributors - Retailers - Consumers (most important) What are the goals of supply chain management - correct answer SCM helps companies outpace the competition by managing their materials, product, and informatio...

Chapter 5: Understanding Consumer and Business Buyer Behavior - Answer Chapter 5 consumer buying behavior - Answer The buying behavior of people who buy goods and services for personal use (these people make up the consumer market) How are consumers stimulated? - Answer Marketing: Price, product, place, promotion Environment: economic, technological, social, cultural How do consumers respond? - Answer With attitudes, preferences, relationships and behaving (buying stuff) Culture - Answer ...

Kola, a leading soft drink manufacturer, has recently forayed into the Middle East markets. Based on its research that Middle East consumers prefer sweeter drinks, it is manufacturing soft drinks with extra sugar to meet local requirements. Kola is using the___ strategy to market its product A. communication adaptation B. product pioneering C. product adaptation D. product invention E. straight product extension - Answer c. product adaptation which of the following is most likely true a...

Direct marketing - Answer connecting directly with carefully targeted individual consumers WHY?: to obtain an immediate response and cultivate lasting customer relationships direct mail marketing - Answer LARGEST DIRECT MARKETING MEDIUM involves an offer, announcement, reminder, or other item to a person at a particular address -personalized -newer digital forms -effective -often perceived as "junk mail' catalog marketing - Answer direct marketing through print, video, or digital cata...

what are the key supply chain data requirements - correct answer 1. Accurate 2. Accessible 3. Relevant 4. Timely 5. Transferable 6. Reliable 7. Usable what are the goals of supply chain planning - correct answer solutions support the forward-looking process of coordinating assets to optimize the delivery of goods, services and information from supplier to customer, balancing supply and demand. SCP software sits on top of a transactional system to provide planning, what-if scenario analy...

list the 4 powers of a notary - answer-administer oaths; take & certify acknowledgements; take & certify depositions; & receive, make & record notarial protests what is the term of a notary? - answer-5 years where do notaries get sworn in & what is the clerk fee? - answerclerk of courts / $5.00 statute for penalty of notary act after expired commission - answer147.10 notary public acting after commission expires. no notary public shall do or perform any act as a notary public knowing that...

Consumer buying behavior - Answer the buying behavior of people who buy goods and services for personal use. these people create the consumer market How do consumers respond to various marketing efforts the company might use? - Answer central question for marketers Simple Model of Consumer Buying Behavior (3 categories) - Answer 1. Marketing and other stimuli 2. Buyer's black box 3. Buyer's response Simple Model of Consumer Buying Behavior (marketing & other stimuli) - Answer Market-p...

What is procurement? - correct answer process of actually purchasing goods and services How does procurement differ from strategic sourcing? - correct answer Procurement operations support tactical day-to-day transactions such as issuing purchase orders to suppliers, whereas strategic sourcing represents to strategic planning, supplier development, contract negotiation, supply chain infrastructure, and outsourcing models. What is outsourcing? - correct answer obtain (goods or a service) fr...

Goal of Customer- Driven marketing strategy - Answer to create VALUE for targeted customers Market Segmentation - Answer Dividing a market into smaller groups with distinct needs, characteristics, or behaviors that might require separate marketing strategies or mixes. (taking heterogeneous customers and dividing them into more homogeneous groups) selecting customers to serve - Answer - "Who is our customer?" -Selecting customers to serve using segmentation and targeting -We cannot make ...

Forecast - Answer an educated guess or prediction of what might happen in the future you can count on it being wrong! S&OP - Answer Sales and Operations Planning - goal is to balance supply and demand Capacity Forecast - Answer What are we capable of producing? A GUESS - RISK! Demand Forecast - Answer A projection into the future of expected demand, given a stated set of assumptions RISK! Demand - Answer what customers would buy if they could - UNCONSTRAINED DEMAND AKA Not constrained b...

Forecast - Answer an educated guess or prediction of what might happen in the future you can count on it being wrong! S&OP - Answer Sales and Operations Planning - goal is to balance supply and demand Capacity Forecast - Answer What are we capable of producing? A GUESS - RISK! Demand Forecast - Answer A projection into the future of expected demand, given a stated set of assumptions RISK! Demand - Answer what customers would buy if they could - UNCONSTRAINED DEMAND AKA Not constrained b...

All of the following are accurate reasons which draw a company into the international arena, except which one? a.) to combat saturation of domestic markets, firms go overseas. b.) companies pursue international markets for higher profit opportunities. c.) companies go overseas to enlarge their customer database in order to achieve economies of scale. d.) companies do not want to reduce their dependence on any one market so as to reduce risks. e.) all of the above are reasons that companie...

Price definition: narrowly - Answer the amount of money charged for a product or service price definition: broadly - Answer the sum of all the values that consumers exchange for the benefits of having or using the product or service internal factors affecting price decisions - Answer marketing objectives marketing mix strategies costs organizational considerations external factors affecting price decisions - Answer nature of the market and demand competition other environmental factors ...

what is scm - correct answer The "art" of managing the flow of materials and products, information, and financial resources from source to user. Who's involved in the supply chain? - correct answer suppliers, manufacturers, distributors, retailers, consumers Who is the most important participant in the supply chain? - correct answer the consumer What does SCM involve? - correct answer all the activities that take place to get a product in your hands - from the time of raw materials ...

Narrowly, what is a price? - Answer Narrowly, price is the amount of money charged for a product or service Broadly, what is a price? - Answer Broadly, price is the sum of all values that consumers exchange for the benefits of having or using the product or service Price is not just money, think of price as - Answer sacrifice Example of price - Answer $88 boots from amazon versus exact same pair at Dillards for $88 as well. The price here is wait-time, trying them on, or convenience. The...

WGU C236 Exam Expected Questions and Answers (Verified by Expert) WGU C236 Exam Expected Questions and Answers (Verified by Expert) WGU C236 Exam Expected Questions and Answers (Verified by Expert)

What is the simple definition of marketing? - Answer managing profitable customer relationships goals of marketing activity - Answer 1. Attract new customers by promising superior value 2. Keep and grow current customers by delivering customer satisfaction Define Marketing - Answer A social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. Simple Model of the Marketing Process - Answer Cre...

Direct Marketing - Answer Connecting directly with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships New Direct-Marketing Model - Answer 1. Direct marketing has undergone a dramatic transformation. 2. Most firms use direct marketing as a supplemental channel or medium. 3. For many companies, direct marketing constitutes a new and complete model for doing business. 4. Some firms employ the direct model as their ONLY ap...

What is supply chain management? - correct answer the "art" of managing the flow of materials, products, information and financial resources from source to user Who is most important participant in Supply Chain? - correct answer Consumer 5 Goals of supply chain - correct answer customer care competitiveness efficiency responsiveness resiliency link - correct answer the transportation method used to connect the nodes Node - correct answer a fixed point in a supply chain where ...

1. New product ideas come from ____. a. internal sources, using company R&D b. external sources, listening to distributors and suppliers c. external sources, watching and listening to customers d. Both A and C e. All of the above are source of new product ideas - Answer e. All of the above are source of new product ideas. Frequent purchases, little planning, low customer involvement, low prices, widespread distribution, and convenient locations are characteristics of ____. a. shopping p...

2023 AQA A-level PHYSICS 7408/1 Paper 1 Question Paper & Mark scheme (Merged) June 2023 [VERIFIED] internal energy (thermal energy) - -energy of the atoms and molecules of an object due to their movement and position (sum of random distribution of KE and PE of molecules) internal energy can change as a result of (2 things) - -- energy transfer through heating (due to temperature difference) - work done on object (including by electricity) 1st law of thermodynamics - -change of internal ...

Example of Marketing in Action - Answer JDA, combining direct mail with personalized URL's cost JDA $60,000 but yielded high response rate and $13 million in sales Catalog creates - Answer emotional affection Telephone marketing is a big part of - Answer direct marketing Direct Marketing Example - Answer Case Study: Sweet Truth Dental (Omni-Channel)... pay to be the first website to come up on someone's page Where is direct marketing heading - Answer Prism advertisement and measure dolla...

Questions Managers Ask - Answer What is important to cust? How do we know if we are delivering value? How do i judge whether we are offering superior value relative to our customers? Satisfied customer relationships are more likely to be ____ and ______ - Answer loyal and give larger share of business Customer Value - Answer customer's perception of what they want to have happen in a specific use situation, with the help of a product or service, in order to accomplish a desired purpose o...