UF MAR3023 EXAM 1 QUESTIONS WITH CORRECT RATIONALES
1. Exchange Trade of things of value between buyer and seller so that each is better ott
after the trade.
2. product used to refer to any good, service, or idea that contains tangible and
intangible
attributes, satisfies consumers; needs and is exchanged for something of value
3. Marketing Activity of creating, communicating, delivering and exchanging otterings that
benefit the organization, its stakeholders, and society at large.
4. four things 1. Two or more individuals or organizations with needs that are
must be unsatisfied
present for 2. Both the desire andthe ability to satisfy thoseneeds
marketing to 3. A means by which the parties can communicate
oc- cur 4. Something that the parties can exchange
5. Environment
Uncontrollable forces in a marketing decision involving social, economic,
al Forces
techno- logical, competitive, and regulatory forces.
6. Market People with the ability and desire to buy a specific ottering.
7. Marketing is the set of activities that facilitates the previously mentioned exchange of
Man- value.
agement
8. Marketing Mix Factors that the marketing manager can control, such as price, product,
promo- tion, and place, that can be used to solve a marketing
problem.
9. Target Market Specific group(s) of potential consumers toward which an organization
directs its marketing program.
10. Customer Value Unique combination of benefits received by targeted buyers that includes
11
.
1/
15
, UF MAR3023 EXAM 1 QUESTIONS WITH CORRECT RATIONALES
quality, convenience, on-time delivery, and before/after-sale service at
specific price.
perceived benefit/cost
11
.
1/
15
, UF MAR3023 Exam
1
Marketing Plan that integrates the marketing mix to provide goods, services, or ideas to
Pro- gram prospective buyers.
12. Relationshi Links organization to its individual customers, employees, suppliers and
p other partners for mutual long-term benefits.
Marketing
Process of identifying prospective buyers, understanding them
13. Customer
intimately, and developing favorable long-term perceptions of the
Rela-
organization and its otterings so that buyers will choose them in the
tionship
marketplace.
Man-
agement The firm focuses on producing as much of the product as it can, as
(CRM)
eflciently as possible.
14. production
ori- entation
15. Sales Orientation companies focus on selling and make heavy use of advertising to
convince
consumers that their products are better than their competitors'. still
inwardly focused: produce first and then worry selling to customers
16. Marketing Con- cept
Orien- tation
17. Market
Orienta- tion
18. Marketing
20
.
2/
15
1. Exchange Trade of things of value between buyer and seller so that each is better ott
after the trade.
2. product used to refer to any good, service, or idea that contains tangible and
intangible
attributes, satisfies consumers; needs and is exchanged for something of value
3. Marketing Activity of creating, communicating, delivering and exchanging otterings that
benefit the organization, its stakeholders, and society at large.
4. four things 1. Two or more individuals or organizations with needs that are
must be unsatisfied
present for 2. Both the desire andthe ability to satisfy thoseneeds
marketing to 3. A means by which the parties can communicate
oc- cur 4. Something that the parties can exchange
5. Environment
Uncontrollable forces in a marketing decision involving social, economic,
al Forces
techno- logical, competitive, and regulatory forces.
6. Market People with the ability and desire to buy a specific ottering.
7. Marketing is the set of activities that facilitates the previously mentioned exchange of
Man- value.
agement
8. Marketing Mix Factors that the marketing manager can control, such as price, product,
promo- tion, and place, that can be used to solve a marketing
problem.
9. Target Market Specific group(s) of potential consumers toward which an organization
directs its marketing program.
10. Customer Value Unique combination of benefits received by targeted buyers that includes
11
.
1/
15
, UF MAR3023 EXAM 1 QUESTIONS WITH CORRECT RATIONALES
quality, convenience, on-time delivery, and before/after-sale service at
specific price.
perceived benefit/cost
11
.
1/
15
, UF MAR3023 Exam
1
Marketing Plan that integrates the marketing mix to provide goods, services, or ideas to
Pro- gram prospective buyers.
12. Relationshi Links organization to its individual customers, employees, suppliers and
p other partners for mutual long-term benefits.
Marketing
Process of identifying prospective buyers, understanding them
13. Customer
intimately, and developing favorable long-term perceptions of the
Rela-
organization and its otterings so that buyers will choose them in the
tionship
marketplace.
Man-
agement The firm focuses on producing as much of the product as it can, as
(CRM)
eflciently as possible.
14. production
ori- entation
15. Sales Orientation companies focus on selling and make heavy use of advertising to
convince
consumers that their products are better than their competitors'. still
inwardly focused: produce first and then worry selling to customers
16. Marketing Con- cept
Orien- tation
17. Market
Orienta- tion
18. Marketing
20
.
2/
15
