MBA - 706 Darrat Exam 1 (Marketing Chapters: 1,2,5,7)
Complete Questions with Correct Answers
1. Marketing: identifying and meeting human and social needs in a way that harmonizes with the goals of the
organization
2. Marketing Management: the art and science of choosing target markets and getting, keeping, and
growing customers through creating, delivering, and communicating superior customer value
3. Goods: Physical goods constitute the bulk of most countries' production and marketing ettorts
4. Services: As economies advance, a growing proportion of their activities focus on the produc- tion of services
5. Events: Marketers promote time-based events, including major trade shows, artistic performances, and company
anniversaries
6. Experiences: orchestrating several services and goods, a firm can create, stage, and market experiences
7. Persons: Artists, musicians, CEOs, physicians, high-profile lawyers and financiers, and other professionals often
get help from marketers
8. Places: Cities, states, regions, and whole nations compete to attract tourists, residents, facto- ries, and company
headquarters
9. Properties: intangible rights of ownership to either real property (real estate) or financial property (stocks and
bonds)
10. Organizations: Museums, performing-arts organizations, corporations, and nonprofits all use marketing to
boost their public image and compete for audiences and funds
11. Information: disseminated knowledge
12. Ideas: organizations promote causes focused on issues such as poverty, climate change, civil rights, social justice,
mailto:https://www.stuvia.com/user/Wisdoms
, racial discrimination, gender inequality, health care availability, and child-
hood obesity.
13. 4 Major Market Forces: Technology: Massive amounts of information and data about almost everything
are now available to both consumers and marketers.
Globalization: Geographic and political barriers have been eroded as advanced telecommunication technologies
and workflow platforms that enable all types of comput- ers to work together continue to create almost limitless
opportunities for communication, collabora- tion, and data mining.
Physical Environment: Climate change—a term referring to lasting changes in Earth's global climate as well as changes
in regional climates—can have a significant impact on a company's business activities. Health conditions-range from
short-term illnesses that are confined to a particular geographic area to pandemics that spread across the globe.
Changes in health conditions can influence not only the operations of pharmaceutical, biotechnology, and health
mailto:https://www.stuvia.com/user/Wisdoms
, management companies but also companies that are not directly related to health care.
Social Responsibility: Because marketing's ettects extend to society as a whole, marketers must consider the ethical,
environmental, legal, and social context of their activities.
14. 3 Key Marketing Outcomes: New Consumer Capabilities:
-online resources as a powerful information and purchasing aid
-mobile connectivity to search, communicate, and purchase on the go
-tap into social media to share opinions and express loyalty
-actively interact with companies
-reject marketing they find inappropriate or annoying
-extract more value from what they already own
New Company Capabilities:
-use the internet as a powerful information and sales channel, including for individually ditterentiated goods.
-collect fuller and richer information about markets, customers, prospects, and competitors.
-reach consumers quickly and eflciently via social media and mobile marketing, sending targeted ads, coupons, and
information.
-improve purchasing, recruiting, training, and internal and external communications.
-improve their cost eflciency.
mailto:https://www.stuvia.com/user/Wisdoms
Complete Questions with Correct Answers
1. Marketing: identifying and meeting human and social needs in a way that harmonizes with the goals of the
organization
2. Marketing Management: the art and science of choosing target markets and getting, keeping, and
growing customers through creating, delivering, and communicating superior customer value
3. Goods: Physical goods constitute the bulk of most countries' production and marketing ettorts
4. Services: As economies advance, a growing proportion of their activities focus on the produc- tion of services
5. Events: Marketers promote time-based events, including major trade shows, artistic performances, and company
anniversaries
6. Experiences: orchestrating several services and goods, a firm can create, stage, and market experiences
7. Persons: Artists, musicians, CEOs, physicians, high-profile lawyers and financiers, and other professionals often
get help from marketers
8. Places: Cities, states, regions, and whole nations compete to attract tourists, residents, facto- ries, and company
headquarters
9. Properties: intangible rights of ownership to either real property (real estate) or financial property (stocks and
bonds)
10. Organizations: Museums, performing-arts organizations, corporations, and nonprofits all use marketing to
boost their public image and compete for audiences and funds
11. Information: disseminated knowledge
12. Ideas: organizations promote causes focused on issues such as poverty, climate change, civil rights, social justice,
mailto:https://www.stuvia.com/user/Wisdoms
, racial discrimination, gender inequality, health care availability, and child-
hood obesity.
13. 4 Major Market Forces: Technology: Massive amounts of information and data about almost everything
are now available to both consumers and marketers.
Globalization: Geographic and political barriers have been eroded as advanced telecommunication technologies
and workflow platforms that enable all types of comput- ers to work together continue to create almost limitless
opportunities for communication, collabora- tion, and data mining.
Physical Environment: Climate change—a term referring to lasting changes in Earth's global climate as well as changes
in regional climates—can have a significant impact on a company's business activities. Health conditions-range from
short-term illnesses that are confined to a particular geographic area to pandemics that spread across the globe.
Changes in health conditions can influence not only the operations of pharmaceutical, biotechnology, and health
mailto:https://www.stuvia.com/user/Wisdoms
, management companies but also companies that are not directly related to health care.
Social Responsibility: Because marketing's ettects extend to society as a whole, marketers must consider the ethical,
environmental, legal, and social context of their activities.
14. 3 Key Marketing Outcomes: New Consumer Capabilities:
-online resources as a powerful information and purchasing aid
-mobile connectivity to search, communicate, and purchase on the go
-tap into social media to share opinions and express loyalty
-actively interact with companies
-reject marketing they find inappropriate or annoying
-extract more value from what they already own
New Company Capabilities:
-use the internet as a powerful information and sales channel, including for individually ditterentiated goods.
-collect fuller and richer information about markets, customers, prospects, and competitors.
-reach consumers quickly and eflciently via social media and mobile marketing, sending targeted ads, coupons, and
information.
-improve purchasing, recruiting, training, and internal and external communications.
-improve their cost eflciency.
mailto:https://www.stuvia.com/user/Wisdoms
