MAR3023 FSU EXAM 1 BRADY | QUESTIONS AND
ANSWERS | WITH COMPLETE SOLUTION.
What is Marketing? Answer - To identify unmet consumer needs & then
develop products that fill those needs & then develop products that fill those
needs.
Pure Marketing Answer - Business function that develops the products that
people want to buy because they know they need them and because they can
afford them and because they can find them. (Don't have to advertise)
Example of Pure Marketing Answer - Coca Cola - It tastes good & delivers
caffeine. Don't have to go to far to buy one and it is low cost.
Product Development Answer - Core marketing function. If the product is good
the firm has to do little advertising.
Example of Good Product Development Answer - Apple, Bedsox, Munchy Mart
& Four Rivers
Impure Marketing Answer - Firms fail to objectively distinguish their products
from competitors. (Having to advertise because of competitors) Very powerful
Examples of Impure Marketing Answer - Dasani, Zephrahuills, Fiji, Walgreens
water.
, Power of Marketing Answer - Branding & Marketing are powerful. Marketers
have power to change perception of customers with 4 P's
Marketing's core strategies Answer - Creating value and relationships
Segmenting Markets
Identifying opportunities
Creating Value Answer - Value
Small Banks: Serve starbucks, offer babysitting , extended hours & free toasters
Sheraton Hotel in L.A.: Offers 24 hour check in, room available any time,
guaranteed 24 hour block room stay & occupancy went from 66%-90%
Creating Relationship Answer - Establishing long term mutually satisfying,
buyer seller relationship.
Examples of Creating Relationship Answer - Ex. Disney: Theme parks,
movies/tv/radio, cruises & Disney on ice.
Chick-fil-a: Go extra mile, "my pleasure" bring umbrellas, pull out chairs for
ladies, bus tables, refill drinks.
Segmenting Markets Answer - Targets different wants & needs. Separates
devils from angels, store clerks are given training to identify desirable/angel
customers. High income men "Barry's" Suburban moms "Jills" Male early
adopters "Buzzes"
Examples of Segmenting Markets Answer - Coke Zero - For Men
Diet Coke - For women
Marriott- Hotels for just suites and inns. Resorts
ANSWERS | WITH COMPLETE SOLUTION.
What is Marketing? Answer - To identify unmet consumer needs & then
develop products that fill those needs & then develop products that fill those
needs.
Pure Marketing Answer - Business function that develops the products that
people want to buy because they know they need them and because they can
afford them and because they can find them. (Don't have to advertise)
Example of Pure Marketing Answer - Coca Cola - It tastes good & delivers
caffeine. Don't have to go to far to buy one and it is low cost.
Product Development Answer - Core marketing function. If the product is good
the firm has to do little advertising.
Example of Good Product Development Answer - Apple, Bedsox, Munchy Mart
& Four Rivers
Impure Marketing Answer - Firms fail to objectively distinguish their products
from competitors. (Having to advertise because of competitors) Very powerful
Examples of Impure Marketing Answer - Dasani, Zephrahuills, Fiji, Walgreens
water.
, Power of Marketing Answer - Branding & Marketing are powerful. Marketers
have power to change perception of customers with 4 P's
Marketing's core strategies Answer - Creating value and relationships
Segmenting Markets
Identifying opportunities
Creating Value Answer - Value
Small Banks: Serve starbucks, offer babysitting , extended hours & free toasters
Sheraton Hotel in L.A.: Offers 24 hour check in, room available any time,
guaranteed 24 hour block room stay & occupancy went from 66%-90%
Creating Relationship Answer - Establishing long term mutually satisfying,
buyer seller relationship.
Examples of Creating Relationship Answer - Ex. Disney: Theme parks,
movies/tv/radio, cruises & Disney on ice.
Chick-fil-a: Go extra mile, "my pleasure" bring umbrellas, pull out chairs for
ladies, bus tables, refill drinks.
Segmenting Markets Answer - Targets different wants & needs. Separates
devils from angels, store clerks are given training to identify desirable/angel
customers. High income men "Barry's" Suburban moms "Jills" Male early
adopters "Buzzes"
Examples of Segmenting Markets Answer - Coke Zero - For Men
Diet Coke - For women
Marriott- Hotels for just suites and inns. Resorts
