MKT 449 Final exaM neWeST 2026 aCTUal exaM QUeSTiOnS anD
CORReCT anSWeRS (VeRiFieD) | laTeST UPDaTe 2026/2027 |
GRaDeD a+ | BRanD neW | 100% GUaRanTeeD PaSS
The difference between marketing and selling - ANSWER-marketing: activity, set of institutions,
and processes for creating, communicating, delivering, and exchanging offerings that have
value for customers, clients, partners, and society at large; about identifying and meeting human
and social needs
-marketing goal is to make selling unnecessary, aim to know and understand customer so they
product sells itself
Marketing management* - ANSWER-• The art and science of choosing target markets and
getting, keeping, and growing customers through creating, delivering, and
communicating superior customer value
• Objective is to increase firm's competitive advantage
The simple marketing system - ANSWER-industry (sellers) communicates with market (buyers)
who provide info to industry and they exchange goods and services
Needs, wants, and demands - ANSWER-• Needs are basic human requirements such as air, food,
water, clothing, and shelter
• Wants direct to specific objects that might satisfy the need
• Demands are wants for specific products backed by an ability to pay
• Marketers do not create needs. Needs pre-exist marketers
Three transformative forces in the new marketing realities - ANSWER-technology, globalization,
& social responsibility
Value and satisfaction - ANSWER-• Value: the sum of the tangible and intangible benefits and
costs
• Satisfaction: a person's judgment of a product's perceived performance in relationship to
expectations
,Changing marketplace* - ANSWER-1. New consumer capabilities
-Can use the internet as a powerful information and purchasing aid
-Can search, communicate, and purchase on the move
-Can tap into social media to share opinions and express loyalty
-Can actively interact with companies
-Can reject marketing they find inappropriate
2. New company capabilities:
-Can use the internet as a powerful information and sales channel, including for individually
differentiated goods
-Can collect fuller and richer information about markets, customers, prospects, and competitors
-Can reach customers quickly and efficiently via social media and mobile marketing, sending
targeted ads, coupons, and information
-Can improve purchasing, recruiting, training, and internal and external communications
-Can improve cost efficiency
3. Changing channels
-Retail transformation
-Disintermediation (e.g., Amazon.com)
4. Heightened competition
-Private brands
-Mega-brands
-Deregulation
-Privatization
Evolution of marketing philosophies - ANSWER-• The production concept: consumers prefer
products that are widely available and inexpensive
• The product concept: consumers favor products offering the most quality, performance, or
innovative features
• The selling concept: consumers and businesses, if left alone, won't buy enough of the
organization's products
• The marketing concept: the job is to find not the right customers for your products, but the
right products for your customers
, The holistic marketing concept - ANSWER--internal marketing: marketing department, senior
management, etc.; hiring, training, and motivating employees
-performance marketing: sales revenue, brand & customer equity, ethics, environment, legal,
social (ex. financial accountability, environmental & social impact)
-relationship marketing: customers, employees, partners, financial community; key stakeholders
(customers, employees, suppliers, distributors, and retailers
-integrated marketing: communications, products and services, channels, price; activities that
create, communicate, and deliver value to whole is greater than parts
4 Ps - ANSWER-people, processes, programs, performance
Modern marketing management tasks* - ANSWER-• Developing market strategies and plans
• Capturing marketing insights
• Connecting with customers
• Building strong brands
• Creating value
• Delivering value
• Communicating value
• Creating successful long-term growth
Four types of situations in a case - ANSWER-1. problems: situation with significant outcome or
performance and no explicit explanation of outcome; realize problem exists, define problem,
work out explanation of problem
2. decisions: decisions options (eg. new product, segmentation, digital marketing, or
promotion), decision criteria (profitability, customer satisfaction, market share, or sales), &
relevant evidence (data, rationale, examples, or models)
3. evaluations: express judgement about worth, value, or effectiveness of performance, act, or
outcome; fit between evidence and criteria
4. rules: need to know type of info needed, appropriate rule to furnish info, correct way to apply
rule, data necessary to execute rule (ex. breakeven calc, customer life value, brand equity)
Conjoint analysis - ANSWER-Angie's List case
preferences for different attributes; 5 attributes:
1. type of service provider info available
CORReCT anSWeRS (VeRiFieD) | laTeST UPDaTe 2026/2027 |
GRaDeD a+ | BRanD neW | 100% GUaRanTeeD PaSS
The difference between marketing and selling - ANSWER-marketing: activity, set of institutions,
and processes for creating, communicating, delivering, and exchanging offerings that have
value for customers, clients, partners, and society at large; about identifying and meeting human
and social needs
-marketing goal is to make selling unnecessary, aim to know and understand customer so they
product sells itself
Marketing management* - ANSWER-• The art and science of choosing target markets and
getting, keeping, and growing customers through creating, delivering, and
communicating superior customer value
• Objective is to increase firm's competitive advantage
The simple marketing system - ANSWER-industry (sellers) communicates with market (buyers)
who provide info to industry and they exchange goods and services
Needs, wants, and demands - ANSWER-• Needs are basic human requirements such as air, food,
water, clothing, and shelter
• Wants direct to specific objects that might satisfy the need
• Demands are wants for specific products backed by an ability to pay
• Marketers do not create needs. Needs pre-exist marketers
Three transformative forces in the new marketing realities - ANSWER-technology, globalization,
& social responsibility
Value and satisfaction - ANSWER-• Value: the sum of the tangible and intangible benefits and
costs
• Satisfaction: a person's judgment of a product's perceived performance in relationship to
expectations
,Changing marketplace* - ANSWER-1. New consumer capabilities
-Can use the internet as a powerful information and purchasing aid
-Can search, communicate, and purchase on the move
-Can tap into social media to share opinions and express loyalty
-Can actively interact with companies
-Can reject marketing they find inappropriate
2. New company capabilities:
-Can use the internet as a powerful information and sales channel, including for individually
differentiated goods
-Can collect fuller and richer information about markets, customers, prospects, and competitors
-Can reach customers quickly and efficiently via social media and mobile marketing, sending
targeted ads, coupons, and information
-Can improve purchasing, recruiting, training, and internal and external communications
-Can improve cost efficiency
3. Changing channels
-Retail transformation
-Disintermediation (e.g., Amazon.com)
4. Heightened competition
-Private brands
-Mega-brands
-Deregulation
-Privatization
Evolution of marketing philosophies - ANSWER-• The production concept: consumers prefer
products that are widely available and inexpensive
• The product concept: consumers favor products offering the most quality, performance, or
innovative features
• The selling concept: consumers and businesses, if left alone, won't buy enough of the
organization's products
• The marketing concept: the job is to find not the right customers for your products, but the
right products for your customers
, The holistic marketing concept - ANSWER--internal marketing: marketing department, senior
management, etc.; hiring, training, and motivating employees
-performance marketing: sales revenue, brand & customer equity, ethics, environment, legal,
social (ex. financial accountability, environmental & social impact)
-relationship marketing: customers, employees, partners, financial community; key stakeholders
(customers, employees, suppliers, distributors, and retailers
-integrated marketing: communications, products and services, channels, price; activities that
create, communicate, and deliver value to whole is greater than parts
4 Ps - ANSWER-people, processes, programs, performance
Modern marketing management tasks* - ANSWER-• Developing market strategies and plans
• Capturing marketing insights
• Connecting with customers
• Building strong brands
• Creating value
• Delivering value
• Communicating value
• Creating successful long-term growth
Four types of situations in a case - ANSWER-1. problems: situation with significant outcome or
performance and no explicit explanation of outcome; realize problem exists, define problem,
work out explanation of problem
2. decisions: decisions options (eg. new product, segmentation, digital marketing, or
promotion), decision criteria (profitability, customer satisfaction, market share, or sales), &
relevant evidence (data, rationale, examples, or models)
3. evaluations: express judgement about worth, value, or effectiveness of performance, act, or
outcome; fit between evidence and criteria
4. rules: need to know type of info needed, appropriate rule to furnish info, correct way to apply
rule, data necessary to execute rule (ex. breakeven calc, customer life value, brand equity)
Conjoint analysis - ANSWER-Angie's List case
preferences for different attributes; 5 attributes:
1. type of service provider info available
