Popular courses 'BUSML 3250' at BUSML 3250
BUSML 3250 Study guides, Class notes & Summaries
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BUSML 3250 Final Exam Review Questions & Correct Answers | Latest Update |Already Graded A+
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What is a price? 
: The amount of money charged for a product or service. 
What is value-based pricing? 
: Price is considered along with other marketing mix variables before the marketing 
program is set 
What are the steps in (customer) value-based pricing? 
: 1. Assess customer needs and value perceptions 
2. Set target price to match customer perceived value 
3. Determine the costs that can be incurred 
4. Design product to deliver value at target price 
What is cost-based pricing? 
: Setti...
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BUSML 3250 Final Exam Questions & Correct Answers | Latest Update |Already Graded A+
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Which type of retailer usually carries more specialty goods at high prices and is more 
likely to provide customers with assistance in every phase of the shopping process? 
: Full- Service Retailer 
Today, ________ are flourishing due to the increased use of market segmentation and 
market targeting. 
: Specialty Stores 
________ retailers in the United States are growing faster than product retailers 
: Service 
A retailer that carries narrow product lines with deep assortments within those l...
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BUSML3250 Exam 3 Questions & Correct Answers | Latest Update |Already Graded A+
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product 
: a good, service, or idea consisting of a bundle of tangible and intangible attributes 
that satisfies consumers' needs and is received in exchange for money or something 
else of value 
good 
: has tangible attributes that a consumer's five senses can perceive 
nondurable good 
: an item consumed in one or a few uses, such as food products and fuel 
durable good 
: a good that usually lasts over many uses, such as appliances, cars, and 
smartphones 
Services 
2 | P a g e 
: intan...
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BUSML 3250 Exam 1 Questions & Correct Answers | Latest Update |Already Graded A+
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What is marketing? 
: The process by which companies create value for customers and build strong 
customer relationships in order to capture value from customers in return 
Marketing Process 
: 1st 4 steps create value for customers, last step captures value from customers 
Understand marketplace and customer needs and wants 
Design a customer-driven marketing strategy 
Construct an integrated marketing program that delivers superior value 
Build profitable relationships and create customer del...
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BUSML 3250 Exam 2 Questions & Correct Answers | Latest Update |Already Graded A+
- Exam (elaborations) • 32 pages • 2024
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What makes a good segmentation? 
: ISASDA 
Identifiable 
Substantial 
Accessible 
Stable 
Differentiable 
Actionable 
What are the different tpyes of segmentation? 
: Geographic - country, city, neighborhood 
Demographic - age, gender, income, race 
Psychological - interests, activities, values, goals 
Behavioral - purchasing habits, customer loyalty 
What factors should you consider when choosing a target 
: Market Size 
Expected Growth 
2 | P a g e 
Competitive position 
Cost of reaching 
...
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BUSML 3250 Final Questions & Correct Answers | Latest Update |Already Graded A+
- Exam (elaborations) • 33 pages • 2024
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advertising 
: any paid form of non-personal presentation and promotion of ideas, goods or 
services by an identified sponsor 
advertising objective 
: specific communication task to be accomplished with a specific target audience 
during a specific period of time 
advertising budget 
: the dollars and other resources allocated to a product or a company advertising 
program 
advertising strategy 
: strategy by which the company accomplishes its advertising objectives; it consists 
of two maj...
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BUSML 3250 Exam 2 Questions & Correct Answers | Latest Update |Already Graded A+
- Exam (elaborations) • 47 pages • 2024
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CROPing 
: "CRedible OPinions" Activately seeking out information and postponing a 
purchase decision until all options have been evaluated. 
Consumer Behavior 
: the actions a person takes in purchasing and using products and services, 
including the mental and social processes that come before and after these actions 
Purchase decision process 
: the stages a buyer passes through in making choices about which products or 
services to buy. 
Five stages: 
1) Problem Recognition 
2) Informat...
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BUSML 3250 Exam 3 Questions & Correct Answers | Latest Update |Already Graded A+
- Exam (elaborations) • 26 pages • 2024
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Marketing Channel 
: consists of individuals and firms involved in the process of making a product or 
service available for use or consumption by consumers or industrial users 
Agent or Broker 
: any intermediary with legal authority to act on behalf of the manufacturer 
Wholesaler 
: an intermediary who sells to other intermediaries, usually to retailers; term usually 
applies to consumer markets 
Transactional Functions 
: Buying: Purchasing products for resale or as an agent for supply of ...
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BUSML 3250 Bundled Exams Questions and Answers Latest Versions (2024/2025) (Complete and Accurate)
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BUSML 3250 Bundled Exams Questions and Answers Latest Versions (2024/2025) (Complete and Accurate)
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BUSML 3250 Final Exam Questions and Answers Already Passed
- Exam (elaborations) • 15 pages • 2024
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BUSML 3250 Final Exam Questions and 
 
Answers Already Passed 
 
Which type of retailer usually carries more specialty goods at high prices and is more likely to 
provide customers with assistance in every phase of the shopping process? Full- Service 
Retailer 
 
Today, ________ are flourishing due to the increased use of market segmentation and market 
targeting. Specialty Stores 
 
________ retailers in the United States are growing faster than product retailers Service 
 
A retailer that carr...
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