COMMERCE 1MA3 Final Exam (Latest
2026/2027) Complete Questions and 100%
Correct Answers (Guaranteed Pass)
• B2B . Answer: business to business, the process of selling merchandise or services
from one business to another
• B2C . Answer: business to conusmer, the process in which businesses sell to
consumer
• C2C . Answer: consumer to consumer, the process in which consumer sells to other
consumer
• Customer Relationship Managment (CRM) . Answer: A business philosophy and set of
strategies, programs, and systems that focus on identifying and building loyalty among
the firm's most valued customers
• Exchange . Answer: the trade of things of value between the buyer and the seller so
that each is better off as a result.
• Ideas . Answer: Intellectual concepts—thoughts, opinions, and philosophies.
• Market . Answer: the group of people who need or want a company's product/services
and have the ability and willingness to buy them
• Marketing . Answer: A set of business practices designed to plan for and present an
organization's products or services in ways that build effective consumer relations
• Marketing Mix (4 P's) . Answer: Product, Place, Price, Promotion - the controllable set
of activities that a firm uses to respond to the wants of its target markets.
• Marketing Plan . Answer: A written document composed of an analysis of the current
marketing situation, opportunities, and threats for the firm, marketing objectives and
strategy specified in terms of the four Ps, action programs, and projected or pro forma
income and other financial statements
• Relation Orientation . Answer: a method of building a relationship with customers
based on the philosophy that buyers and sellers should develop a long-term relationship
• Supply Chain . Answer: the group of firms and set of techniques and approaches firms
use to make and deliver a given set of goods and services
• Target Market . Answer: The customer segment or group to whom the firm is
interested in selling its products and services.
,• value . Answer: reflects the relationship of benefits to costs, or what the consumer gets
for what he or she gives
• Value cocreation . Answer: customers act as collaborators with a manufacturer or
retailer to create the product or service
• Product Orientation . Answer: focuses on developing and distributing innovative
products with little concern about whether it will satisfy customers needs. Believe that
good product will sell itself.
• Sales Orientation . Answer: View marketing as a selling function where companies try
to sell as many of their products as possible rather than focus on making products
consumers really want. Depends on heavy doses of ads and personal selling
• Market Orientation . Answer: focusing on what consumers want and need before they
design, make, or attempt to sell their products or serivces. Believes that consumers
have a choice and make purchase decisions.
• Value-based Orientation . Answer: The tripple bottom line. People (Customer needs
and wants). Profits (Long-term Profitable Relationships). Planet (Social and
environmental Responsibility). Provides greater value than competitiors. marketing
plays role in communicating the value.
• Control Phase . Answer: the part of the strategic marketing planning process when
managers evaluate the performance of the marketing strategy and take any necessary
corrective actions
• Customer Excellence . Answer: involves a focus on retaining loyal customers and
excellent customer service
• Diversification Strategy . Answer: a growth strategy whereby a firm introduces a new
product or service to a market segment that it does not currently serve
• Downsizing . Answer: Exiting markets, reducing product portfolios, or closing certain
businesses or store or plant locations.
• Implementation Phase . Answer: Where marketing managers identify and evaluate
different opportunities by engaging in a process known as segmentation, targeting, and
positioning. They then develop and implement the marketing mix by using the four Ps.
• Locational Excellence . Answer: Involves a focus on a good physical location and
Internet presence.
• Market Development Strategy . Answer: a growth strategy that employs the existing
marketing offering to reach new market segments, whether domestic or international
,• Market Growth Rate . Answer: annual growth rate of the specific market in which the
product competes
• market penetration strategy . Answer: a growth strategy that employs the existing
marketing mix and focuses the firm's efforts on existing customers
• market positioning . Answer: involves the process of defining the marketing mix
variables so that target customers have a clear, distinctive, desirable understanding of
what the product does or represents in comparison with competing products
• market segment . Answer: a group of consumers who respond similarily to a firms
marketing efforts
• market segmentation . Answer: the process of dividing a market into meaningful,
relatively similar, and identifiable segments or groups- where each individual group has
similar needs, wants, or characteristics - who therefore might appreciate
products/services geared esp for them in similar ways
• marketing strategy . Answer: identifies (1) a firm's target market(s), (2) a related
marketing mix (its four Ps), and (3) the bases on which the firm plans to build a
sustainable competitive advantage
• metric . Answer: a measuring system that quantifies a trend, dynamic, or characteristic
• Mission statement . Answer: A broad description of a firm's objectives and the scope
of activities it plans to undertake; attempts to answer two main questions: What type of
business is it? What does it need to do to accomplish its goals and objectives?
• operational excellence . Answer: involves a firm's focus on efficient operations and
excellent supply chain management
• Planning Phase . Answer: Where marketing executives and other top managers define
the mission and objectives of the business, and evaluate the situation by assessing how
various players, both inside and outside the organization, affect the firm's potential for
success.
• product development strategy . Answer: a growth strategy that offers a new product or
service to a firm's current target market
• product excellence . Answer: involves a focus on achieving high-quality products;
effective branding and positioning is key
• product line . Answer: a group of products that consumers may use together or
perceive as similar in some way
, • relative market share . Answer: a measure of the product's strength in a particular
market, defined as the sales of the focal product divided by the sales achieved by the
largest firm in the industry
• SWOT analysis (situational analysis) . Answer: second step in a marketing plan, uses
a SWOT analysis that assess both internal (strenghts and weaknesses) and external
(opportunities and threats) enviroments.
• STP . Answer: the process of segmentation, targeting, and positioning that firms use to
identify and evaluate opportunities for increasing sales and profits
• strategic business unit (SBU) . Answer: A division of the company that can be
managed somewhat independently from other divisions since it markets a specific set of
products to a clearly defined group of customers.
• Sustainable competitive advantage . Answer: something that a firm can persistently do
better than its competitors, that is not easily copied and can be maintained over a long
period of time.
• target marketing/targeting . Answer: the process of evaluating the attractiveness of
various segments and then deciding which to pursue as a market
• Artificial intelligence . Answer: solutions that rely on computer systems to perform
tasks that require human intelligence, such as speech recognition, decision making, or
translations
• baby boomers . Answer: generational cohort of peopel born after WW2 until 1964
• country culture . Answer: Easy-to-spot visible nuances that are particular to a country,
such as dress, symbols, ceremonies, language, colours, and food preferences, and
more subtle aspects, which are trickier to identify.
• culture . Answer: shared meanings, beliefs, morals, values, and customs of a group of
people
• demographics . Answer: characteristics of human population and segments, used to
identify consumer markets like age, gender, income
• economic situation . Answer: Economic changes that affect the way consumers buy
merchandise and spend money; see inflation, foreign currency fluctuations, interest
rates, and recession.
• foreign currency fluctuations . Answer: changes in the value of a country's currency
relative to the currency of another country; can influence consumer spending
• gen x . Answer: people born between 1965 and 1981
2026/2027) Complete Questions and 100%
Correct Answers (Guaranteed Pass)
• B2B . Answer: business to business, the process of selling merchandise or services
from one business to another
• B2C . Answer: business to conusmer, the process in which businesses sell to
consumer
• C2C . Answer: consumer to consumer, the process in which consumer sells to other
consumer
• Customer Relationship Managment (CRM) . Answer: A business philosophy and set of
strategies, programs, and systems that focus on identifying and building loyalty among
the firm's most valued customers
• Exchange . Answer: the trade of things of value between the buyer and the seller so
that each is better off as a result.
• Ideas . Answer: Intellectual concepts—thoughts, opinions, and philosophies.
• Market . Answer: the group of people who need or want a company's product/services
and have the ability and willingness to buy them
• Marketing . Answer: A set of business practices designed to plan for and present an
organization's products or services in ways that build effective consumer relations
• Marketing Mix (4 P's) . Answer: Product, Place, Price, Promotion - the controllable set
of activities that a firm uses to respond to the wants of its target markets.
• Marketing Plan . Answer: A written document composed of an analysis of the current
marketing situation, opportunities, and threats for the firm, marketing objectives and
strategy specified in terms of the four Ps, action programs, and projected or pro forma
income and other financial statements
• Relation Orientation . Answer: a method of building a relationship with customers
based on the philosophy that buyers and sellers should develop a long-term relationship
• Supply Chain . Answer: the group of firms and set of techniques and approaches firms
use to make and deliver a given set of goods and services
• Target Market . Answer: The customer segment or group to whom the firm is
interested in selling its products and services.
,• value . Answer: reflects the relationship of benefits to costs, or what the consumer gets
for what he or she gives
• Value cocreation . Answer: customers act as collaborators with a manufacturer or
retailer to create the product or service
• Product Orientation . Answer: focuses on developing and distributing innovative
products with little concern about whether it will satisfy customers needs. Believe that
good product will sell itself.
• Sales Orientation . Answer: View marketing as a selling function where companies try
to sell as many of their products as possible rather than focus on making products
consumers really want. Depends on heavy doses of ads and personal selling
• Market Orientation . Answer: focusing on what consumers want and need before they
design, make, or attempt to sell their products or serivces. Believes that consumers
have a choice and make purchase decisions.
• Value-based Orientation . Answer: The tripple bottom line. People (Customer needs
and wants). Profits (Long-term Profitable Relationships). Planet (Social and
environmental Responsibility). Provides greater value than competitiors. marketing
plays role in communicating the value.
• Control Phase . Answer: the part of the strategic marketing planning process when
managers evaluate the performance of the marketing strategy and take any necessary
corrective actions
• Customer Excellence . Answer: involves a focus on retaining loyal customers and
excellent customer service
• Diversification Strategy . Answer: a growth strategy whereby a firm introduces a new
product or service to a market segment that it does not currently serve
• Downsizing . Answer: Exiting markets, reducing product portfolios, or closing certain
businesses or store or plant locations.
• Implementation Phase . Answer: Where marketing managers identify and evaluate
different opportunities by engaging in a process known as segmentation, targeting, and
positioning. They then develop and implement the marketing mix by using the four Ps.
• Locational Excellence . Answer: Involves a focus on a good physical location and
Internet presence.
• Market Development Strategy . Answer: a growth strategy that employs the existing
marketing offering to reach new market segments, whether domestic or international
,• Market Growth Rate . Answer: annual growth rate of the specific market in which the
product competes
• market penetration strategy . Answer: a growth strategy that employs the existing
marketing mix and focuses the firm's efforts on existing customers
• market positioning . Answer: involves the process of defining the marketing mix
variables so that target customers have a clear, distinctive, desirable understanding of
what the product does or represents in comparison with competing products
• market segment . Answer: a group of consumers who respond similarily to a firms
marketing efforts
• market segmentation . Answer: the process of dividing a market into meaningful,
relatively similar, and identifiable segments or groups- where each individual group has
similar needs, wants, or characteristics - who therefore might appreciate
products/services geared esp for them in similar ways
• marketing strategy . Answer: identifies (1) a firm's target market(s), (2) a related
marketing mix (its four Ps), and (3) the bases on which the firm plans to build a
sustainable competitive advantage
• metric . Answer: a measuring system that quantifies a trend, dynamic, or characteristic
• Mission statement . Answer: A broad description of a firm's objectives and the scope
of activities it plans to undertake; attempts to answer two main questions: What type of
business is it? What does it need to do to accomplish its goals and objectives?
• operational excellence . Answer: involves a firm's focus on efficient operations and
excellent supply chain management
• Planning Phase . Answer: Where marketing executives and other top managers define
the mission and objectives of the business, and evaluate the situation by assessing how
various players, both inside and outside the organization, affect the firm's potential for
success.
• product development strategy . Answer: a growth strategy that offers a new product or
service to a firm's current target market
• product excellence . Answer: involves a focus on achieving high-quality products;
effective branding and positioning is key
• product line . Answer: a group of products that consumers may use together or
perceive as similar in some way
, • relative market share . Answer: a measure of the product's strength in a particular
market, defined as the sales of the focal product divided by the sales achieved by the
largest firm in the industry
• SWOT analysis (situational analysis) . Answer: second step in a marketing plan, uses
a SWOT analysis that assess both internal (strenghts and weaknesses) and external
(opportunities and threats) enviroments.
• STP . Answer: the process of segmentation, targeting, and positioning that firms use to
identify and evaluate opportunities for increasing sales and profits
• strategic business unit (SBU) . Answer: A division of the company that can be
managed somewhat independently from other divisions since it markets a specific set of
products to a clearly defined group of customers.
• Sustainable competitive advantage . Answer: something that a firm can persistently do
better than its competitors, that is not easily copied and can be maintained over a long
period of time.
• target marketing/targeting . Answer: the process of evaluating the attractiveness of
various segments and then deciding which to pursue as a market
• Artificial intelligence . Answer: solutions that rely on computer systems to perform
tasks that require human intelligence, such as speech recognition, decision making, or
translations
• baby boomers . Answer: generational cohort of peopel born after WW2 until 1964
• country culture . Answer: Easy-to-spot visible nuances that are particular to a country,
such as dress, symbols, ceremonies, language, colours, and food preferences, and
more subtle aspects, which are trickier to identify.
• culture . Answer: shared meanings, beliefs, morals, values, and customs of a group of
people
• demographics . Answer: characteristics of human population and segments, used to
identify consumer markets like age, gender, income
• economic situation . Answer: Economic changes that affect the way consumers buy
merchandise and spend money; see inflation, foreign currency fluctuations, interest
rates, and recession.
• foreign currency fluctuations . Answer: changes in the value of a country's currency
relative to the currency of another country; can influence consumer spending
• gen x . Answer: people born between 1965 and 1981
