Final Exam Part Two - Chapters 11-20: MRKT 5000 OD F1 2018 Marketing.pdf - Final Exam Part Two Chapters 11-20 Due Oct 21 at 11:59pm Points 150 Questions

Final Exam Part Two - Chapters 11-20: MRKT 5000 OD F1 2018 Marketing.pdf

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* Some questions not yet graded Final Exam Part Two - Chapters 11-20 Due Oct 21 at 11:59pm Points 150 Questions 10 Available Oct 12 at 11:59pm - Oct 21 at 11:59pm 9 days Time Limit 150 Minutes Instruc ! ons A ! empt History Attempt Time Score LATEST Attempt 1 104 minutes 0 out of 150 * ! Correct answers are hidden. Score for this quiz: 0 out of 150 * Submitted Oct 21 at 7:30pm This attempt took 104 minutes. This exam has 10 essay questions. You have 2 hours to complete this portion of the exam and you are allowed only one attempt. You may only open this exam one time. Be sure you are prepared to complete it in it's entirety. You may not close it and reopen it later. The test is timed and will shut off after 2 hours. Not yet graded / 15 pts Question 1 Your Answer: What types of activities are involved in the marketing management process? Explain each activity in detail. Do not simply list and define. Marketing is described as the process of distributing, promoting, creating and pricing goods, services to develop a relationship with customers and to maintain key relationships with stakeholders in a dynamic environment. The planning process assesses opportunities and resources, determine marketing objectives, develop a marketing strategy and a plan for implementation and control. The organizing process the internal structure of the marketing unit is developed. In the implementation process marketing activities are coordinated. In the control process performance standards are established and standards are compared. Not yet graded / 15 pts Question 2
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Your Answer: Describe and explain the steps in developing a new product. The seven steps in developing a new product are idea generation, screening, concept testing, business analysis, product development, test marketing and commercialization. Idea generation is when the business search from product ideas that will them accomplish their objective. Screening products in which the company feels have the greatest potential are selected for further consideration. Concept testing is used to determine a consumer's initial reaction to a product idea. Product development is the phase in which the company discovers whether the product and or cannot be produced a feasible cost. Test marketing involves a small introduction of a product in the
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