MART112 - EXAM REVISION QUESTIONS
COMPLETE WITH 100% CORRECT
ANSWERS
\.Marketing - ANSWERS-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
\.Customer Value - ANSWERS-The difference between the benefits the customer
gains from owning and using a product and the costs of obtaining the product
\.Marketing involves 4 main activities: - ANSWERS-1. Analysis
2. Planning
3. Implementing
4. Control
\.4 Business Concepts: - ANSWERS-1. Production concepts
2. Product concept
3. Selling concept
4. Marketing concept
,\.Environment Scanning - ANSWERS-Process of continually acquiring information
on events occurring outside the organisation to identify and interpret potential
trends
\.Macro-environment (external to organisation) - ANSWERS-- Demographic shifts
- Economic conditions
- Competition
- Social/Cultural
- Political/Legal
- Technological changes
\.Micro-environment (linked to organisation) - ANSWERS-- Suppliers
- Customers
- Intermediaries
- Other stakeholders
\.Internal Environment (within the organisation) - ANSWERS-- Other functions
(e.g. Finance, production)
- Location
- Identity
\.Key Demographic Trends - ANSWERS-- Eduction
- Geographic shifts
- Growing ethnic diversity
, - Age structures
- Changing family structures
\.Positioning - ANSWERS-The place a product occupies in consumers minds. Based
on important attributes relative to competing products.
\.Head to head - ANSWERS-Competing directly with rivals on simlar products
attributes in the same target market
\.Differentiation - ANSWERS-Finding a less-competitive, smaller market niche to
locate the offering/brand
\.Marketing Mix Influences - ANSWERS-- Product
- Price
- Promotion
- Place
\.Sociocultural influences - ANSWERS-- Personal influence
- Reference groups
- Family
- Social class
- Culture and subculture
\.Situational influences - ANSWERS-- Purchase task
COMPLETE WITH 100% CORRECT
ANSWERS
\.Marketing - ANSWERS-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
\.Customer Value - ANSWERS-The difference between the benefits the customer
gains from owning and using a product and the costs of obtaining the product
\.Marketing involves 4 main activities: - ANSWERS-1. Analysis
2. Planning
3. Implementing
4. Control
\.4 Business Concepts: - ANSWERS-1. Production concepts
2. Product concept
3. Selling concept
4. Marketing concept
,\.Environment Scanning - ANSWERS-Process of continually acquiring information
on events occurring outside the organisation to identify and interpret potential
trends
\.Macro-environment (external to organisation) - ANSWERS-- Demographic shifts
- Economic conditions
- Competition
- Social/Cultural
- Political/Legal
- Technological changes
\.Micro-environment (linked to organisation) - ANSWERS-- Suppliers
- Customers
- Intermediaries
- Other stakeholders
\.Internal Environment (within the organisation) - ANSWERS-- Other functions
(e.g. Finance, production)
- Location
- Identity
\.Key Demographic Trends - ANSWERS-- Eduction
- Geographic shifts
- Growing ethnic diversity
, - Age structures
- Changing family structures
\.Positioning - ANSWERS-The place a product occupies in consumers minds. Based
on important attributes relative to competing products.
\.Head to head - ANSWERS-Competing directly with rivals on simlar products
attributes in the same target market
\.Differentiation - ANSWERS-Finding a less-competitive, smaller market niche to
locate the offering/brand
\.Marketing Mix Influences - ANSWERS-- Product
- Price
- Promotion
- Place
\.Sociocultural influences - ANSWERS-- Personal influence
- Reference groups
- Family
- Social class
- Culture and subculture
\.Situational influences - ANSWERS-- Purchase task
