BUSI 520 FINAL EXAM 2026 ACTUAL QUESTIONS AND
ANSWERS RATED A+
✔✔What is a Demand? - ✔✔Wants for specific products backed by an ability to pay
✔✔What are the 5 types of Needs? - ✔✔1. Stated Need
2. Real Needs
3. Unstated Needs
4. Delight Needs
5. Secret Needs
✔✔What is a Target Markets? - ✔✔Identifying distinct segments then deciding which
segment presents the greatest opportunity
✔✔What is Market Offerings? - ✔✔Develop products for each specific target Markets
✔✔What is Position? - ✔✔product that delivers key benefits to the specific markets
✔✔Value Proposition? - ✔✔the set of benefits or values it promises to deliver to
customers to satisfy their needs
✔✔What is an Offering? - ✔✔A combo of products, services, information, and
experiences
✔✔What is a Brand? - ✔✔an offering from a known source
✔✔What is a Communication Channel? - ✔✔Deliver and receive messages from target
buyers and include newspapers, magazines, radio, television, mail, telephone, smart
phone, billboards, posters, fliers, CDs, audiotapes, and the Internet
✔✔What is a Distribution Channel? - ✔✔Used to help display, sell, or deliver the
physical product or service(s) to the buyer or user.
✔✔What is a service channel? - ✔✔Used to carry out transactions with potential buyers.
✔✔What is paid media? - ✔✔Media such as TV, print, radio, or display ads used to
reach mass markets at a fee
✔✔What is owned media? - ✔✔Communication channels marketers own. Such as
brand brochure, website, blog, Facebook page, or Twitter account
✔✔What is earned media? - ✔✔streams in which consumers, the press, or other
outsiders voluntaily communicate something about the brand via word of mouth
, ✔✔What is an Impression? - ✔✔A useful metric for tracking the scope or breadth of a
communications reach that can be compared across all communication types
✔✔What is engagement - ✔✔Customers attention and active involvement with a
communication
✔✔What is value? - ✔✔The sum of the tangible and intangible benefits and costs.
Combination of quality, service, and price
✔✔What is satisfaction? - ✔✔reflects a person's comparative judgment of a products
perceived performance (or outcome) in relation to expectations.
✔✔What is task environment - ✔✔The actors engaged in the producing, distributing,
and promotion of the product
✔✔What is a broad environment? - ✔✔The demographic, economic, social-cultural,
natural, technological, and political-legal environment
✔✔What is globalization? - ✔✔the process by which businesses or other organizations
develop international influence or start operating on an international scale.
✔✔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
ANSWERS RATED A+
✔✔What is a Demand? - ✔✔Wants for specific products backed by an ability to pay
✔✔What are the 5 types of Needs? - ✔✔1. Stated Need
2. Real Needs
3. Unstated Needs
4. Delight Needs
5. Secret Needs
✔✔What is a Target Markets? - ✔✔Identifying distinct segments then deciding which
segment presents the greatest opportunity
✔✔What is Market Offerings? - ✔✔Develop products for each specific target Markets
✔✔What is Position? - ✔✔product that delivers key benefits to the specific markets
✔✔Value Proposition? - ✔✔the set of benefits or values it promises to deliver to
customers to satisfy their needs
✔✔What is an Offering? - ✔✔A combo of products, services, information, and
experiences
✔✔What is a Brand? - ✔✔an offering from a known source
✔✔What is a Communication Channel? - ✔✔Deliver and receive messages from target
buyers and include newspapers, magazines, radio, television, mail, telephone, smart
phone, billboards, posters, fliers, CDs, audiotapes, and the Internet
✔✔What is a Distribution Channel? - ✔✔Used to help display, sell, or deliver the
physical product or service(s) to the buyer or user.
✔✔What is a service channel? - ✔✔Used to carry out transactions with potential buyers.
✔✔What is paid media? - ✔✔Media such as TV, print, radio, or display ads used to
reach mass markets at a fee
✔✔What is owned media? - ✔✔Communication channels marketers own. Such as
brand brochure, website, blog, Facebook page, or Twitter account
✔✔What is earned media? - ✔✔streams in which consumers, the press, or other
outsiders voluntaily communicate something about the brand via word of mouth
, ✔✔What is an Impression? - ✔✔A useful metric for tracking the scope or breadth of a
communications reach that can be compared across all communication types
✔✔What is engagement - ✔✔Customers attention and active involvement with a
communication
✔✔What is value? - ✔✔The sum of the tangible and intangible benefits and costs.
Combination of quality, service, and price
✔✔What is satisfaction? - ✔✔reflects a person's comparative judgment of a products
perceived performance (or outcome) in relation to expectations.
✔✔What is task environment - ✔✔The actors engaged in the producing, distributing,
and promotion of the product
✔✔What is a broad environment? - ✔✔The demographic, economic, social-cultural,
natural, technological, and political-legal environment
✔✔What is globalization? - ✔✔the process by which businesses or other organizations
develop international influence or start operating on an international scale.
✔✔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
