Uta Mark-3321 Exam 1 2024 Questions And Correct Answers

Demography {Ans: the study of people's vital statistics, such as age, race and ethnicity, and location}Exchange {Ans: people giving up something in order to receive something else they would rather have}Risk Levels for Five Methods of Entering the Global Marketplace {Ans: Firms use the following strategies to enter global markets, in descending order of risk and profit: direct investment, joint venture, contract manufacturing, licensing, and franchising, and exporting.}Green Marketing {Ans: the development and marketing of products designed to minimize negative effects on the physical environment or to improve the environment}Product/Service (Competitive Advantages) {Ans: when a firm provides something unique that is valuable to buyers beyond just a low price. Ex. Apple has a better product/service than Samsung because of better features, reliability, and customer service.}Market Orientation (Philosophy) {Ans: a philosophy that assumes that a sale does not depend on aggressive sales forces but rather on a customers decision to purchase the product}