Basic Marketing exam 1 (USF-Biswas) {LATEST update} QUESTIONS AND ANSWERS 100% CORRECT

Basic Marketing exam 1 (USF-Biswas)
{LATEST 2026 -2027 update} QUESTIONS
AND ANSWERS 100% CORRECT
Marketing - correct answer A set of activities, involving organizations / processes for


creating, communicating, & delivering something of value for exchanges between


shareholders.




Value - correct answer a function of benefit and cost




Rule for exchanges - correct answer must have at least two parties with each having


something of value




Production orientation - correct answer - (most prevalent after industrial revolution)


- management philosophy


- inward focus ie what you're good at

, Sales Orientation - correct answer - (more prevalent after WW2)


- aggressive selling techniques




Market orientation - correct answer - (early 90's)


-customer orientated (focus on customers)




Societal Orientation - correct answer Concerned about the environment and society as


a whole etc




Controllable factors - correct answer product, price, promotion (type of


advertisement), place (distribution)




Uncontrollable factors - correct answer - customer preferences / trends


- economy / technology / competition


- regulations / laws