Marketing & Consumer Behavior UF MAR3023 EXAM 1: Marketing
Fundamentals (Creating, Communicating, Delivering Value; Customer Value,
Utility – Time, Place, Form, Possession; Marketing Management & Mix –
Product, Price, Place, Promotion; Marketing Program & Market Share; STP
Marketing – Segmentation, Targeting, Positioning; Segmentation Criteria –
Measurability, Reachability, Profitability, Differential Response; Targeting
Strategies – Mass, Niche, Multi-segment, Mass Customization; Product
Positioning, Perceptual Mapping, Points of Parity & Difference; Marketing
Research – MIS, fMRI, Primary & Secondary Data; Consumer Decision Making –
Problem Recognition, Info Search, Alternative Evaluation, Purchase, Post-
Purchase, Multi-Attribute Model, Involvement; Measuring Customer Satisfaction
– P vs E, Net Promoter Score, CCO; Macro & Microenvironment – Social,
Economic, Technological, Regulatory, Natural, Competitors, Customers,
Suppliers, Stakeholders; Ethics & CSR – Moral Idealism, Utilitarianism,
Profit/Stakeholder/Societal Responsibility, Green Marketing, Cause Marketing,
Pinkwashing, Social Audits; Organizational Buyers – Industrial, Resellers,
Government, Buying Center, Value & Vendor Analysis, Straight/Modified/New
Buy; Strategic Environmental Scanning – Sectors, Actors, Sources, Interpretation;
Technological Trends – IoT, VR, 3D Printing, AI; Regulatory & Legal – Sherman
Antitrust, Robinson-Patman, Lanham, FTC, FDA, CPSC Exam Questions Verified
and Provided with Complete A+ Graded Rationales Latest Updated 2026
,marketing
- the activity of creating, communicating, delivering and exchanging offerings that have value for
customers, clients, partners, and society at large.
- heart of marketing is in making sure exchanges between people and orgs satisfy the objectives
of both sides of the exchange.
- seeks to serve both buyers and sellers by discovering and satisfying the needs and wants of
prospective customers, as well as society overall.
Customer value
-the unique combo of benefits received by targeted buyers that includes quality, price,
convenience, on-tome delivery, and before/after-sale service.
-synonyms are utility and satisfaction
-the ratio of perceived benefits to price
value= (perceived benefits)/price
Utility
the benefit of satisfaction, or customer value, received by users of a product.
-4 types: time, place, form, and possession
,Time utility
-created by getting the product to the customer when he or she wants it.
-WHEN they want it, AS QUICKLY as they want it.
-speed of delivery (fast food companies)
-availability (vid game release, want it first day)
Place utility
-created by having th product WHERE the consumer wants it and providing the product in a
positive atmosphere
-conveneint locations (arms everywhere)
-atmospherics: ambiance of the place where u buy the product adds value. (eating hamburger
at rainforest cafe is an experience, consuming an experience, which justifies the high prices)
Form utility
-created by having the product tin the form that is most useful to the consumer
-think tide pods
Possession utility
-created by allowing customers to physically get hold of a product.
, -Primary way marketers create possession utility is through CREDIT, which allows people to
possess a product now and pay for it later.
-credit cards, student loans
Marketing management
-set of activities that facilitates the exchange of value.
-marketing managers facilitate exchange by using the marketing mizz
Marketing mix
the four controllable marketing factors (the 4 P's): product, price, place, promotion.
-used by marketing managers to deliver value to customers
Product of marketing mix
a good, service, or idea that satisfies consumer needs (variety, quality, design, features, brand
name, packaging, services, and warranties)
Price of marketing mix
what is exchanged for the product
Fundamentals (Creating, Communicating, Delivering Value; Customer Value,
Utility – Time, Place, Form, Possession; Marketing Management & Mix –
Product, Price, Place, Promotion; Marketing Program & Market Share; STP
Marketing – Segmentation, Targeting, Positioning; Segmentation Criteria –
Measurability, Reachability, Profitability, Differential Response; Targeting
Strategies – Mass, Niche, Multi-segment, Mass Customization; Product
Positioning, Perceptual Mapping, Points of Parity & Difference; Marketing
Research – MIS, fMRI, Primary & Secondary Data; Consumer Decision Making –
Problem Recognition, Info Search, Alternative Evaluation, Purchase, Post-
Purchase, Multi-Attribute Model, Involvement; Measuring Customer Satisfaction
– P vs E, Net Promoter Score, CCO; Macro & Microenvironment – Social,
Economic, Technological, Regulatory, Natural, Competitors, Customers,
Suppliers, Stakeholders; Ethics & CSR – Moral Idealism, Utilitarianism,
Profit/Stakeholder/Societal Responsibility, Green Marketing, Cause Marketing,
Pinkwashing, Social Audits; Organizational Buyers – Industrial, Resellers,
Government, Buying Center, Value & Vendor Analysis, Straight/Modified/New
Buy; Strategic Environmental Scanning – Sectors, Actors, Sources, Interpretation;
Technological Trends – IoT, VR, 3D Printing, AI; Regulatory & Legal – Sherman
Antitrust, Robinson-Patman, Lanham, FTC, FDA, CPSC Exam Questions Verified
and Provided with Complete A+ Graded Rationales Latest Updated 2026
,marketing
- the activity of creating, communicating, delivering and exchanging offerings that have value for
customers, clients, partners, and society at large.
- heart of marketing is in making sure exchanges between people and orgs satisfy the objectives
of both sides of the exchange.
- seeks to serve both buyers and sellers by discovering and satisfying the needs and wants of
prospective customers, as well as society overall.
Customer value
-the unique combo of benefits received by targeted buyers that includes quality, price,
convenience, on-tome delivery, and before/after-sale service.
-synonyms are utility and satisfaction
-the ratio of perceived benefits to price
value= (perceived benefits)/price
Utility
the benefit of satisfaction, or customer value, received by users of a product.
-4 types: time, place, form, and possession
,Time utility
-created by getting the product to the customer when he or she wants it.
-WHEN they want it, AS QUICKLY as they want it.
-speed of delivery (fast food companies)
-availability (vid game release, want it first day)
Place utility
-created by having th product WHERE the consumer wants it and providing the product in a
positive atmosphere
-conveneint locations (arms everywhere)
-atmospherics: ambiance of the place where u buy the product adds value. (eating hamburger
at rainforest cafe is an experience, consuming an experience, which justifies the high prices)
Form utility
-created by having the product tin the form that is most useful to the consumer
-think tide pods
Possession utility
-created by allowing customers to physically get hold of a product.
, -Primary way marketers create possession utility is through CREDIT, which allows people to
possess a product now and pay for it later.
-credit cards, student loans
Marketing management
-set of activities that facilitates the exchange of value.
-marketing managers facilitate exchange by using the marketing mizz
Marketing mix
the four controllable marketing factors (the 4 P's): product, price, place, promotion.
-used by marketing managers to deliver value to customers
Product of marketing mix
a good, service, or idea that satisfies consumer needs (variety, quality, design, features, brand
name, packaging, services, and warranties)
Price of marketing mix
what is exchanged for the product
