MKT100 - FINAL EXAM LATEST
What is marketing? - ANSWERS-The process of creating,
communicating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society.
What are the core objectives of marketing? - ANSWERS-Identifying
and meeting customer needs, creating long-term relationships, and
delivering value to stakeholders.
What are needs in marketing? - ANSWERS-Basic human requirements
essential for survival (e.g., food, water, shelter).
What are wants in marketing? - ANSWERS-How needs are shaped by
culture, personality, and preferences.
What are demands in marketing? - ANSWERS-Wants backed by
purchasing power.
What is the marketing mix? - ANSWERS-The combination of Product,
Price, Place, and Promotion used to meet customer needs.
What are the 7Ps in the extended marketing mix? - ANSWERS-Product,
Price, Place, Promotion, People, Process, Physical Evidence.
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, MKT100 - FINAL EXAM LATEST
What is customer value? - ANSWERS-The perceived benefits a
customer receives from a product minus the cost of obtaining it.
What is the formula for customer value? - ANSWERS-Value = Benefits
- Costs.
What are the stages of the evolution of marketing? - ANSWERS-
Production Orientation, Sales Orientation, Marketing Company
Orientation, Societal Marketing Orientation, Relationship Marketing
Orientation.
What is segmentation in marketing? - ANSWERS-Dividing a market
into distinct groups with shared needs, characteristics, or behaviors.
What are the bases for market segmentation? - ANSWERS-Geographic,
Demographic, Psychographic, Behavioral.
What is targeting in STP? - ANSWERS-Selecting the most viable
market segments to focus marketing efforts.
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, MKT100 - FINAL EXAM LATEST
What is positioning in STP? - ANSWERS-Creating a unique, desirable
place for a product in the minds of the target market.
What is Ansoff's Matrix? - ANSWERS-A strategic planning framework
with four growth strategies: Market Penetration, Product Development,
Market Development, and Diversification.
What is market penetration in Ansoff's Matrix? - ANSWERS-Increasing
sales of existing products in existing markets.
What is product development in Ansoff's Matrix? - ANSWERS-
Developing new products for existing markets.
What is market development in Ansoff's Matrix? - ANSWERS-Entering
new markets with existing products.
What is diversification in Ansoff's Matrix? - ANSWERS-Entering new
markets with new products.
What is the BCG Matrix? - ANSWERS-A portfolio management tool
categorizing products into Stars, Cash Cows, Question Marks, and Dogs.
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What is marketing? - ANSWERS-The process of creating,
communicating, delivering, and exchanging offerings that have value for
customers, clients, partners, and society.
What are the core objectives of marketing? - ANSWERS-Identifying
and meeting customer needs, creating long-term relationships, and
delivering value to stakeholders.
What are needs in marketing? - ANSWERS-Basic human requirements
essential for survival (e.g., food, water, shelter).
What are wants in marketing? - ANSWERS-How needs are shaped by
culture, personality, and preferences.
What are demands in marketing? - ANSWERS-Wants backed by
purchasing power.
What is the marketing mix? - ANSWERS-The combination of Product,
Price, Place, and Promotion used to meet customer needs.
What are the 7Ps in the extended marketing mix? - ANSWERS-Product,
Price, Place, Promotion, People, Process, Physical Evidence.
END OF
PAGE
1
, MKT100 - FINAL EXAM LATEST
What is customer value? - ANSWERS-The perceived benefits a
customer receives from a product minus the cost of obtaining it.
What is the formula for customer value? - ANSWERS-Value = Benefits
- Costs.
What are the stages of the evolution of marketing? - ANSWERS-
Production Orientation, Sales Orientation, Marketing Company
Orientation, Societal Marketing Orientation, Relationship Marketing
Orientation.
What is segmentation in marketing? - ANSWERS-Dividing a market
into distinct groups with shared needs, characteristics, or behaviors.
What are the bases for market segmentation? - ANSWERS-Geographic,
Demographic, Psychographic, Behavioral.
What is targeting in STP? - ANSWERS-Selecting the most viable
market segments to focus marketing efforts.
END OF
PAGE
2
, MKT100 - FINAL EXAM LATEST
What is positioning in STP? - ANSWERS-Creating a unique, desirable
place for a product in the minds of the target market.
What is Ansoff's Matrix? - ANSWERS-A strategic planning framework
with four growth strategies: Market Penetration, Product Development,
Market Development, and Diversification.
What is market penetration in Ansoff's Matrix? - ANSWERS-Increasing
sales of existing products in existing markets.
What is product development in Ansoff's Matrix? - ANSWERS-
Developing new products for existing markets.
What is market development in Ansoff's Matrix? - ANSWERS-Entering
new markets with existing products.
What is diversification in Ansoff's Matrix? - ANSWERS-Entering new
markets with new products.
What is the BCG Matrix? - ANSWERS-A portfolio management tool
categorizing products into Stars, Cash Cows, Question Marks, and Dogs.
END OF
PAGE
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