MKTG 301 Exam 1 (Roth) Marketing Mastery Exam: Marketing Process,
Marketing Concept, Customer Value & Relationships, 4Ps of Marketing (Product,
Price, Place, Promotion), Societal Marketing Concept, Customer Loyalty &
Profitability, Microenvironment (Company, Suppliers, Intermediaries,
Competitors, Publics, Customers), Macroenvironment (Demographic, Economic,
Natural, Technological, Political, Cultural Forces), Market Research (Exploratory,
Descriptive, Causal, Experimental, Surveys, Observational, Ethnographic,
Mechanical), Internal Databases & Marketing Intelligence, Consumer Behavior
(Cultural, Social, Personal, Psychological Factors), Buyer Decision Process (Need
Recognition, Information Search, Evaluation of Alternatives, Purchase, Post-
Purchase Behavior), Subcultures & Social Classes, Reference Groups, Family
Influence, Motivation, Perception, Learning, Beliefs & Attitudes, Lifestyle,
Personality, Brand Personality, Strategic Marketing Management, SWOT & PEST
Analysis, Targeting & Segmentation, Marketing Plan & Implementation,
Competitive Advantage, Marketing Ethics & Social Responsibility, Value
Innovation, Customer Lifetime Value, Marketing Metrics, Marketing Channels,
Communication, Consumer Misbehavior Exam Questions Verified and Provided
with Complete A+ Graded Rationales Latest Updated 2026
Marketing
The process by which companies create VALUE for customers and build strong customer
relationships in order to capture VALUE from customers in return
4 Ps of Marketing
,1) What do potential customers need/want? PRODUCT
2) How much should we ask customers to pay?
PRICE
3) How will we get it to the customers?
PLACE
4) How will we communicate with the customers?
PROMOTION
The Marketing Concept
market (starting) -> customer needs (focus) -> integrated marketing (means) -> profits through
customer satisfaction (ends)
Products
physical objects, people, organizations, places, information, ideas (how marketers create value)
The Selling Concept
Factory (starting point) -> Existing products (focus) -> selling and promoting (means) -> profits
through sales volumes (ends)
Societal Marketing Concept
Society (human welfare ) v consumers (want satifaction) -> company (profits)
, Marketing Mix
Product
Price
Place
Promotion
CUSTOMER IS AT THE CENTER!
Customer Value Results In:
1) Customer loyalty and retention
2) Customer refferals
3) More customers
4) Customer equity (lifetime value of customer x # of customers you have)
5) Higher profits
Profitability/Loyalty Chart
High profitablity, low loyalty: butterflies
High profitability, high loyalty: true friends ** What you want **
Low profitablity, low loyalty: strangers
Low profitability, high loyalty: barnacles
Marketing Environment
the actors and forces outside marketing that affect marketing management's ability to build and
maintain successful RELATIONSHIPS with target customers
Marketing Concept, Customer Value & Relationships, 4Ps of Marketing (Product,
Price, Place, Promotion), Societal Marketing Concept, Customer Loyalty &
Profitability, Microenvironment (Company, Suppliers, Intermediaries,
Competitors, Publics, Customers), Macroenvironment (Demographic, Economic,
Natural, Technological, Political, Cultural Forces), Market Research (Exploratory,
Descriptive, Causal, Experimental, Surveys, Observational, Ethnographic,
Mechanical), Internal Databases & Marketing Intelligence, Consumer Behavior
(Cultural, Social, Personal, Psychological Factors), Buyer Decision Process (Need
Recognition, Information Search, Evaluation of Alternatives, Purchase, Post-
Purchase Behavior), Subcultures & Social Classes, Reference Groups, Family
Influence, Motivation, Perception, Learning, Beliefs & Attitudes, Lifestyle,
Personality, Brand Personality, Strategic Marketing Management, SWOT & PEST
Analysis, Targeting & Segmentation, Marketing Plan & Implementation,
Competitive Advantage, Marketing Ethics & Social Responsibility, Value
Innovation, Customer Lifetime Value, Marketing Metrics, Marketing Channels,
Communication, Consumer Misbehavior Exam Questions Verified and Provided
with Complete A+ Graded Rationales Latest Updated 2026
Marketing
The process by which companies create VALUE for customers and build strong customer
relationships in order to capture VALUE from customers in return
4 Ps of Marketing
,1) What do potential customers need/want? PRODUCT
2) How much should we ask customers to pay?
PRICE
3) How will we get it to the customers?
PLACE
4) How will we communicate with the customers?
PROMOTION
The Marketing Concept
market (starting) -> customer needs (focus) -> integrated marketing (means) -> profits through
customer satisfaction (ends)
Products
physical objects, people, organizations, places, information, ideas (how marketers create value)
The Selling Concept
Factory (starting point) -> Existing products (focus) -> selling and promoting (means) -> profits
through sales volumes (ends)
Societal Marketing Concept
Society (human welfare ) v consumers (want satifaction) -> company (profits)
, Marketing Mix
Product
Price
Place
Promotion
CUSTOMER IS AT THE CENTER!
Customer Value Results In:
1) Customer loyalty and retention
2) Customer refferals
3) More customers
4) Customer equity (lifetime value of customer x # of customers you have)
5) Higher profits
Profitability/Loyalty Chart
High profitablity, low loyalty: butterflies
High profitability, high loyalty: true friends ** What you want **
Low profitablity, low loyalty: strangers
Low profitability, high loyalty: barnacles
Marketing Environment
the actors and forces outside marketing that affect marketing management's ability to build and
maintain successful RELATIONSHIPS with target customers
