UF MAR3023 EXAM 1 QUESTIONS AND CORRECT ANSWERS
Marketing c- cCORRECT cANS✔✔the cactivity, cset cof cinstitutions, cand cprocesses cfor ccreating, ccommunicating, cdelivering, cand
cexchanging cofferings cthat chave cvalue cfor ccustomers, cclients, cpartners, cand csociety cat clarge
Marketing cseeks cto: c- cCORRECT cANS✔✔1) cto cdiscover cthe cneeds cand cwants cof cprospective ccustomers
2) cto csatisfy cthem
exchange c- cCORRECT cANS✔✔the ctrade cof cthings cof cvalue cbetween cthe cbuyer cand cthe cseller cso cthat ceach cis cbetter coff
cas ca cresult
Environmental cForces c- cCORRECT cANS✔✔social
economic
technological
competitive
regulatory
4 cfactors cfor cmarketing cto coccur c- cCORRECT cANS✔✔1. ctwo cor cmore cparties cwith cunsatisfied cneeds
2. ca cdesire cand cability con ctheir cpart cto chave ctheir cneeds csatisfied
3. ca cway cfor cthe cparties cto ccommunicate
4. csomething cto cexchange
first cobjective cin cmarketing c- cCORRECT cANS✔✔discovering cthe cneeds cof cprospective ccustomers
Mintel c- cCORRECT cANS✔✔Market cintelligence cagency
What cpercent cof cnew cproduct claunch's cproducts cfail? c- cCORRECT cANS✔✔40%
Robert cM. cMcnaths c2 ckey csuggestions c- cCORRECT cANS✔✔Focus con cwhat cthe ccustomer cbenefit cis c
Learn cfrom cpast cmistakes
A cneed c- cCORRECT cANS✔✔occurs cwhen ca cperson cfeels cdeprived cof cbasic cnecessities csuch cas cfood, cclothing, cand cshelter
A cwant c- cCORRECT cANS✔✔a cneed cthat cis cshaped cby ca cperson's cknowledge, cculture, cand cpersonality
Market c- cCORRECT cANS✔✔people cwith cboth cthe cdesire cand cthe cability cto cbuy ca cspecific coffering
Target cMarket c- cCORRECT cANS✔✔one cor cmore cspecific cgroups cof cpotential cconsumers ctoward cwhich can corganization
cdirects cits cmarketing cprogram
The c4 cP's c- cCORRECT cANS✔✔Product c(a cgood, cservice, cor cidea)
Price c(what cis cexchanged cfor cproduct)
Promotion c(means cof ccommunication cbtwn cbuyer/seller)
Place c(means cof cgetting cproduct cto ccustomer)
4 cP's care celements cof cthe c- cCORRECT cANS✔✔Marketing cmix
Marketing cmix c- cCORRECT cANS✔✔These cfour celements care cthe ccontrollable cfactors c—product, cprice, cpromotion, cplace—
cthat ccan cbe cused cby cmarketing cmanager cto csolve ca cmarketing cproblem
customer cvalue cproposition c- cCORRECT cANS✔✔a ccluster cof cbenefits cthat can corganization cpromises ccustomers cto csatisfy
ctheir cneeds
Environmental cforces cmay cact cas c- cCORRECT cANS✔✔Accelerators cor cbrakes con cmarketing, csometimes cexpand
copportunities, csometimes crestrict
Customer cvalue c- cCORRECT cANS✔✔the cunique ccombination cof cbenefits creceived cby ctargeted cbuyers cthat cincludes cquality,
cconvenience, con-time cdelivery, cand cboth cbefore-sale cand cafter-sale cservice cat ca cspecific cprice
Marketing c- cCORRECT cANS✔✔the cactivity, cset cof cinstitutions, cand cprocesses cfor ccreating, ccommunicating, cdelivering, cand
cexchanging cofferings cthat chave cvalue cfor ccustomers, cclients, cpartners, cand csociety cat clarge
Marketing cseeks cto: c- cCORRECT cANS✔✔1) cto cdiscover cthe cneeds cand cwants cof cprospective ccustomers
2) cto csatisfy cthem
exchange c- cCORRECT cANS✔✔the ctrade cof cthings cof cvalue cbetween cthe cbuyer cand cthe cseller cso cthat ceach cis cbetter coff
cas ca cresult
Environmental cForces c- cCORRECT cANS✔✔social
economic
technological
competitive
regulatory
4 cfactors cfor cmarketing cto coccur c- cCORRECT cANS✔✔1. ctwo cor cmore cparties cwith cunsatisfied cneeds
2. ca cdesire cand cability con ctheir cpart cto chave ctheir cneeds csatisfied
3. ca cway cfor cthe cparties cto ccommunicate
4. csomething cto cexchange
first cobjective cin cmarketing c- cCORRECT cANS✔✔discovering cthe cneeds cof cprospective ccustomers
Mintel c- cCORRECT cANS✔✔Market cintelligence cagency
What cpercent cof cnew cproduct claunch's cproducts cfail? c- cCORRECT cANS✔✔40%
Robert cM. cMcnaths c2 ckey csuggestions c- cCORRECT cANS✔✔Focus con cwhat cthe ccustomer cbenefit cis c
Learn cfrom cpast cmistakes
A cneed c- cCORRECT cANS✔✔occurs cwhen ca cperson cfeels cdeprived cof cbasic cnecessities csuch cas cfood, cclothing, cand cshelter
A cwant c- cCORRECT cANS✔✔a cneed cthat cis cshaped cby ca cperson's cknowledge, cculture, cand cpersonality
Market c- cCORRECT cANS✔✔people cwith cboth cthe cdesire cand cthe cability cto cbuy ca cspecific coffering
Target cMarket c- cCORRECT cANS✔✔one cor cmore cspecific cgroups cof cpotential cconsumers ctoward cwhich can corganization
cdirects cits cmarketing cprogram
The c4 cP's c- cCORRECT cANS✔✔Product c(a cgood, cservice, cor cidea)
Price c(what cis cexchanged cfor cproduct)
Promotion c(means cof ccommunication cbtwn cbuyer/seller)
Place c(means cof cgetting cproduct cto ccustomer)
4 cP's care celements cof cthe c- cCORRECT cANS✔✔Marketing cmix
Marketing cmix c- cCORRECT cANS✔✔These cfour celements care cthe ccontrollable cfactors c—product, cprice, cpromotion, cplace—
cthat ccan cbe cused cby cmarketing cmanager cto csolve ca cmarketing cproblem
customer cvalue cproposition c- cCORRECT cANS✔✔a ccluster cof cbenefits cthat can corganization cpromises ccustomers cto csatisfy
ctheir cneeds
Environmental cforces cmay cact cas c- cCORRECT cANS✔✔Accelerators cor cbrakes con cmarketing, csometimes cexpand
copportunities, csometimes crestrict
Customer cvalue c- cCORRECT cANS✔✔the cunique ccombination cof cbenefits creceived cby ctargeted cbuyers cthat cincludes cquality,
cconvenience, con-time cdelivery, cand cboth cbefore-sale cand cafter-sale cservice cat ca cspecific cprice
