ACTUAL EXAM PAPER 2026 QUESTIONS
WITH ANSWERS GRADED A+
◍ Competitive pricing.
Answer: Setting the price of a product according to the price of competitive
products
◍ Closed-ended questions.
Answer: Questions where a researcher provides a set of options from which
to choose a response, also called structured questions
◍ integrative approach.
Answer: Win-win negotiation that looks for ways to expand the pie so each
party gets more
◍ Digital media.
Answer: All of a company's marketing efforts that use an electronic device
or the Internet
◍ Marketing.
Answer: the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society at large."4
◍ Mixed negotiations.
Answer: A blend of inductive and deductive negotiation
◍ experiential learning.
Answer: Changes in behavior in response to direct experience; learning as a
reflection on doing
◍ Vertical marketing system.
, Answer: Cooperation between multiple levels of a distribution channel
◍ 4 Product Life Cycle stages.
Answer: Introduction, Growth, Maturity, Decline
◍ - The economic buyer—This individual is responsible for buying products
that enable the company to achieve a business advantage. can range from the
business unit manager level to as high as the CE
O. This buyer type is sometimes referred to as the decider or decision
maker.- The infrastructure buyer—Also known as influencers, this role
influences the buying decision at the execution level. typically someone in
the IT department.- The user buyer—This position often initiates the
purchase process and influences the buying decision at the user level..
Answer: What roles make up the decision-making unit in the hi-tech sector?
◍ Penetration pricing.
Answer: Pricing a new product lower than the perceived market price to
attract market share
◍ Contractual vertical system.
Answer: Cooperation between levels of a distribution channel as described
by a formal agreement
◍ PEST analysis.
Answer: Form of analysis used to isolate opportunities and threats in the
marketing environment
◍ Rivalry.
Answer: One of Porter's Five Forces—competition from other companies in
the industry
◍ Administered vertical system.
Answer: Cooperation between levels of a distribution channel where one
member sets the terms due to its size and influence
◍ B2B marketers sell to other businesses or institutions that consume the
product as part of operating the business or use the product in the assembly
, of the final product that they sell to consumers. B2C marketers focus their
efforts on consumers, the individuals who consume a finished product..
Answer: Describe the difference between a Business-to-Consumer (B2C)
and Business-to-Business (B2B) market.
◍ Tactical planning.
Answer: Identification of key actions, or tactics, aligned to the marketing
strategy that will enable marketers to achieve marketing objectives
◍ Corporate vertical marketing.
Answer: Ownership by a single company of all levels of production and
distribution
◍ Bundling.
Answer: Grouping related products together to encourage customers to buy
both
◍ Marketing Mix.
Answer: four components are called the "Four Ps" of marketing- Product,
Price, Place ,Promotion
◍ Price skimming.
Answer: Pricing a new product high to increase profits
◍ amiable.
Answer: People with this social style want to know "why"
◍ searching.
Answer: Determining which movie to watch by visiting a movie critic's
website describes which stage of the consumer decision-making process?
◍ Telemarketing.
Answer: Method of direct marketing by a saleperson over the phone
◍ Market development.
Answer: Which growth strategy utilizes new markets with existing products
using the strategic opportunity matrix?
◍ Leader pricing.
, Answer: Pricing products below normal markup or at cost to attract
customers to a store where they would not normally shop
◍ Services.
Answer: Intangible product offering by a business
◍ Price gouging.
Answer: When a company has a monopoly on the market and prices
products or services overly high to drive profit
◍ Integrated marketing communication.
Answer: Immersive and targeted communication with customers to help
move them through the various stages of the buying process
◍ Price fixing (collusion).
Answer: When two or more competing companies agree (or collude) on how
much to charge for a product or service
◍ Place: What place does the offering occupy in its market?Rank: How does
the product or service fare against its competitors in the areas evaluated by
customers deciding what to buy?Attitude: How does the company want
customers to think about this offering and the benefits it offers
them?Outcomes: What must it do to ensure the product or service delivers
on the positioning selected?.
Answer: What questions do you answer when you position a product or
service?
◍ Predatory pricing (undercutting).
Answer: When a company prices a product or service extremely low to drive
out competition
◍ As defined in the social styles matrix map, expressives are defined by high
responsiveness and high assertiveness. (Want to know "who").
Answer: What behavior characteristics are expressives identified by in
adaptive selling?
◍ survey research.