MKTG 3131 - GEORGIA SOUTHERN.
EXAM 1 QUESTIONS AND ANSWERS
GRADED A+ 2026
Marketing definition - ANS activity, set of institutions, and processes for creating, capturing,
communicating, delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large.
Goal of marketing - ANS To meet customers' needs (goods and services you need) and wants
(goods and services you do not need but would like to have) with products that customers can
and will buy
4 criteria/conditions for marketing to occur - ANS 1) Two plus parties with unsatisfied needs.
Ex. I'm hungry and domino's needs to sell pizza.
2) A desire and ability to be satisfied. Ex. if on diet, won't order if domino's goods (ability) to fill
order.
3) A way for the parties to communicate.
4) Some to exchange. Ex. Pizza=$, or something of value.
Who engages in marketing and the 3 types of marketing (B2C, B2B, C2C) - ANS B2C- Business
to consumer
B2B- Business to business
C2C- Consumer to consumer
@COPYRIGHT 2026/2027 ALLRIGHTS RESERVED 1
, Controllable factors (aka marketing mix) - know and be able to describe the 4 P's -
ANS Product, price, place and promotion. Firm uses these to respond to wants of target
markets.
Product - ANS Creates value through a good, service, idea or combination.
Price - ANS Captures value through in an exchange.
Place - ANS Represents all the activities necessary to get the product to the right customer
when they want it.
Promotion - ANS Marketers must communicate value to customers.
Stakeholders that marketing impacts - ANS Supply chain partners, society at large.
Wholesalers, retailers, or other intermediaries.
target market - ANS a set of buyers sharing common needs or characteristics that the
company decides to serve
Market - ANS a group of buyers and sellers of a particular good or service
Goals - ANS Goals- specific to objective to be accomplished, usually s.m.a.r.t.
Strategies - ANS organizations long-term course of action designed to deliver a unique
customer experience while achieving its goals. No organization could exist without.
Tactics - ANS the methods and actions taken to accomplish strategies
Why strategy is needed - ANS Can't be all things to all people. Limited resources. Need to
decide where to focus.
@COPYRIGHT 2026/2027 ALLRIGHTS RESERVED 2
EXAM 1 QUESTIONS AND ANSWERS
GRADED A+ 2026
Marketing definition - ANS activity, set of institutions, and processes for creating, capturing,
communicating, delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large.
Goal of marketing - ANS To meet customers' needs (goods and services you need) and wants
(goods and services you do not need but would like to have) with products that customers can
and will buy
4 criteria/conditions for marketing to occur - ANS 1) Two plus parties with unsatisfied needs.
Ex. I'm hungry and domino's needs to sell pizza.
2) A desire and ability to be satisfied. Ex. if on diet, won't order if domino's goods (ability) to fill
order.
3) A way for the parties to communicate.
4) Some to exchange. Ex. Pizza=$, or something of value.
Who engages in marketing and the 3 types of marketing (B2C, B2B, C2C) - ANS B2C- Business
to consumer
B2B- Business to business
C2C- Consumer to consumer
@COPYRIGHT 2026/2027 ALLRIGHTS RESERVED 1
, Controllable factors (aka marketing mix) - know and be able to describe the 4 P's -
ANS Product, price, place and promotion. Firm uses these to respond to wants of target
markets.
Product - ANS Creates value through a good, service, idea or combination.
Price - ANS Captures value through in an exchange.
Place - ANS Represents all the activities necessary to get the product to the right customer
when they want it.
Promotion - ANS Marketers must communicate value to customers.
Stakeholders that marketing impacts - ANS Supply chain partners, society at large.
Wholesalers, retailers, or other intermediaries.
target market - ANS a set of buyers sharing common needs or characteristics that the
company decides to serve
Market - ANS a group of buyers and sellers of a particular good or service
Goals - ANS Goals- specific to objective to be accomplished, usually s.m.a.r.t.
Strategies - ANS organizations long-term course of action designed to deliver a unique
customer experience while achieving its goals. No organization could exist without.
Tactics - ANS the methods and actions taken to accomplish strategies
Why strategy is needed - ANS Can't be all things to all people. Limited resources. Need to
decide where to focus.
@COPYRIGHT 2026/2027 ALLRIGHTS RESERVED 2
