MKTG 3131 EXAM 1 - GEORGIA
SOUTHERN EXAM QUESTIONS AND
ANSWERS 100% PASS 2026/2027
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=$, or something of value.
Who engages in marketing and the 3 types of marketing (B2C, B2B, C2C) - ANS B2C- Business
to consumer
B2B- Business to business
2026/2027 ALLRIGHTS RESERVED 1
, C2C- Consumer to consumer
Controllable factors (aka marketing mix) - know and be able to describe the 4 P's -
ANS Product, price, place and promotion. Firm uses these to respond to wants of target
markets.
Product - ANS Creates value through a good, service, idea or combination.
Price - ANS Captures value through in an exchange.
Place - ANS Represents all the activities necessary to get the product to the right customer
when they want it.
Promotion - ANS Marketers must communicate value to customers.
Stakeholders that marketing impacts - ANS Supply chain partners, society at large.
Wholesalers, retailers, or other intermediaries.
target market - ANS a set of buyers sharing common needs or characteristics that the
company decides to serve
Market - ANS a group of buyers and sellers of a particular good or service
Goals - ANS Goals- specific to objective to be accomplished, usually s.m.a.r.t.
2026/2027 ALLRIGHTS RESERVED 2
SOUTHERN EXAM QUESTIONS AND
ANSWERS 100% PASS 2026/2027
Marketing definition - ANS activity, set of institutions, and processes for creating, capturing,
communicating, delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large.
Goal of marketing - ANS To meet customers' needs (goods and services you need) and wants
(goods and services you do not need but would like to have) with products that customers can
and will buy
4 criteria/conditions for marketing to occur - ANS 1) Two plus parties with unsatisfied needs.
Ex. I'm hungry and domino's needs to sell pizza.
2) A desire and ability to be satisfied. Ex. if on diet, won't order if domino's goods (ability) to fill
order.
3) A way for the parties to communicate.
4) Some to exchange. Ex. Pizza=$, 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
2026/2027 ALLRIGHTS RESERVED 1
, C2C- Consumer to consumer
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.
2026/2027 ALLRIGHTS RESERVED 2
