BUSI 520 UPDATED 2026 EXAM SCRIPT QUESTIONS AND
ANSWERS RATED A+
✔✔What are the different Consumer Capabilities? - ✔✔Consumers can use the Internet
as a powerful information and purchasing aid
Consumers can search, communicate and purchase on the move
Consumers can tap into social media to share opinions and express loyalty
Consumers can actively interact with Companies
Consumers can reject marketing they find inappropriate
✔✔What are New Company Capabilities? - ✔✔Companies can use the internet as a
powerful information and sales channel, including for individually differentiated goods.
Companies can collect fuller and richer information about markets, customers,
prospects, and competitors
Companies can reach consumers quickly and efficiently via social media and mobile
marketing sending target ads, coupons and information
Companies can improve purchasing, recruiting, training, and internal and external
communications
Companies can improve their cost efficiency
✔✔What is retail transformation? - ✔✔retailers transform their stores into experiences
rather than product assortment
✔✔What is disintermediation? - ✔✔Intervening in the traditional flow of goods
✔✔What is reintermediation? - ✔✔updating offerings by introducing online services to
retail offerings
✔✔What is a private label? - ✔✔retailers becoming more and more indistinguishable
from any other type of brand
✔✔What is a Mega-brand? - ✔✔Brands extending into related product categories.
✔✔What is deregulation? - ✔✔the policy of reducing or eliminating regulatory restraints
on the conduct of individuals or private institutions creating greater competition and
growth opportunities
✔✔What is privatization? - ✔✔the transfer of a business, industry, or service from public
to private ownership and control to create greater efficiency
✔✔What is the production concept? - ✔✔customer prefers products that are widely
available and inexpensive
✔✔What is product concept? - ✔✔Customers favor products offering the most quality,
performance, or innovative features
, ✔✔What is the selling concept? - ✔✔Consumers will not buy enough of the firm's
products unless the firm undertakes a large-scale selling and promotion effort
✔✔What is the Marketing concept? - ✔✔the idea that an organization shouldn't look for
the right customer for the product but the right product for the customer
✔✔What is the Holistic marketing approach? - ✔✔the idea based on the development
design, and implementation of marketing programs, processes and activities that
recognize their breadth and interdependencies
✔✔What is relationship marketing - ✔✔establishing long-term, mutually satisfying
buyer-seller relationships
✔✔What is a marketing network? - ✔✔a marketing network consists of the company
and its supporting stakeholders (customers, employees, suppliers, ad agencies, )with
whom it has built mutually profitable business relationships.
✔✔What is integrated Marketing? - ✔✔integrated marketing is devising activities and
assembling fully integrated marketing programs that create, communicate, and deliver
value for customers. such that the whole is greater than the sum of its parts
✔✔What are the 2 key themes of Integrated Marketing? - ✔✔1) many different
marketing activities can create, communicate, and deliver value
2) Marketers should design an implement any one marketing activity with all other
activities in mind
✔✔What is internal marketing? - ✔✔The task of hiring, training, and motivating able
employees who want to serve customers well
✔✔What is performance marketing? - ✔✔understanding the business returns from
marketing activities and programs as well as addressing broader concerns and their
legal, ethical, social and environmental effect. Goes beyond sales revenue to examine
the marketing scorecard and interpret was is happening to market share, customer loss
rate, satisfaction. Financial accountability and social responsibility marketing included
✔✔What are the traditional 4 P's of Marketing? - ✔✔Product, price, place, promotion
✔✔What are the Modern 4 P's of Marketing? - ✔✔People, processes, programs,
performance
✔✔What does people stand for in the Modern 4 P's - ✔✔Reflects internal marketing and
the fact that employees are critical to the marketing success
ANSWERS RATED A+
✔✔What are the different Consumer Capabilities? - ✔✔Consumers can use the Internet
as a powerful information and purchasing aid
Consumers can search, communicate and purchase on the move
Consumers can tap into social media to share opinions and express loyalty
Consumers can actively interact with Companies
Consumers can reject marketing they find inappropriate
✔✔What are New Company Capabilities? - ✔✔Companies can use the internet as a
powerful information and sales channel, including for individually differentiated goods.
Companies can collect fuller and richer information about markets, customers,
prospects, and competitors
Companies can reach consumers quickly and efficiently via social media and mobile
marketing sending target ads, coupons and information
Companies can improve purchasing, recruiting, training, and internal and external
communications
Companies can improve their cost efficiency
✔✔What is retail transformation? - ✔✔retailers transform their stores into experiences
rather than product assortment
✔✔What is disintermediation? - ✔✔Intervening in the traditional flow of goods
✔✔What is reintermediation? - ✔✔updating offerings by introducing online services to
retail offerings
✔✔What is a private label? - ✔✔retailers becoming more and more indistinguishable
from any other type of brand
✔✔What is a Mega-brand? - ✔✔Brands extending into related product categories.
✔✔What is deregulation? - ✔✔the policy of reducing or eliminating regulatory restraints
on the conduct of individuals or private institutions creating greater competition and
growth opportunities
✔✔What is privatization? - ✔✔the transfer of a business, industry, or service from public
to private ownership and control to create greater efficiency
✔✔What is the production concept? - ✔✔customer prefers products that are widely
available and inexpensive
✔✔What is product concept? - ✔✔Customers favor products offering the most quality,
performance, or innovative features
, ✔✔What is the selling concept? - ✔✔Consumers will not buy enough of the firm's
products unless the firm undertakes a large-scale selling and promotion effort
✔✔What is the Marketing concept? - ✔✔the idea that an organization shouldn't look for
the right customer for the product but the right product for the customer
✔✔What is the Holistic marketing approach? - ✔✔the idea based on the development
design, and implementation of marketing programs, processes and activities that
recognize their breadth and interdependencies
✔✔What is relationship marketing - ✔✔establishing long-term, mutually satisfying
buyer-seller relationships
✔✔What is a marketing network? - ✔✔a marketing network consists of the company
and its supporting stakeholders (customers, employees, suppliers, ad agencies, )with
whom it has built mutually profitable business relationships.
✔✔What is integrated Marketing? - ✔✔integrated marketing is devising activities and
assembling fully integrated marketing programs that create, communicate, and deliver
value for customers. such that the whole is greater than the sum of its parts
✔✔What are the 2 key themes of Integrated Marketing? - ✔✔1) many different
marketing activities can create, communicate, and deliver value
2) Marketers should design an implement any one marketing activity with all other
activities in mind
✔✔What is internal marketing? - ✔✔The task of hiring, training, and motivating able
employees who want to serve customers well
✔✔What is performance marketing? - ✔✔understanding the business returns from
marketing activities and programs as well as addressing broader concerns and their
legal, ethical, social and environmental effect. Goes beyond sales revenue to examine
the marketing scorecard and interpret was is happening to market share, customer loss
rate, satisfaction. Financial accountability and social responsibility marketing included
✔✔What are the traditional 4 P's of Marketing? - ✔✔Product, price, place, promotion
✔✔What are the Modern 4 P's of Marketing? - ✔✔People, processes, programs,
performance
✔✔What does people stand for in the Modern 4 P's - ✔✔Reflects internal marketing and
the fact that employees are critical to the marketing success
