BUAD301 Study Guide - Midterm Guide: Toms Shoes, Baby Boomers, Southern Living

• School: University of Delaware
• Department: Business Administration
• Course: BUAD301
• Professor: Sundaram Suresh

Document Summary

Key topics to focus on for multiple choice questions in each. Customers form expectations about the value and satisfaction that various markets will offer. If expectations are set low, customers may be satisfied by marketers will fail to attract enough buyers. Approach in which all of the company"s people are involved in constantly improving the wualtiy of products, services, and business processes: definitions of exchange, transactions and relationships: Exchange: the act of obtaining a desired object from someone by offering something in return. Relationships: a business using marketing actions to build and maintain exchange relationships with target audiences (involving an idea, product, service, etc) by consistently delivering superior value. Consumers will favor products that offer the most wuality, performance, and features. Consumers will not buy enough of products unless the firm undertakes a large-scale selling and promotion effort. Continuous exposure/advertising will pull consumers in. (example: late night info- mercials of typically unsought goods).