MKT 3350 TTU Harper Exam 1 Review Questions & Answers (Grade A+).docx

MKT 3350 TTU Harper Exam 1 Review
Questions & Answers (Grade A+)
Marketing -
correct answer ✅Marketing is an organizational function and a set
of processes for creating, communicating, and delivering value to
customers and for managing customer relationships in ways that
benefit the organization and its stakeholders


Marketing is about...? -
correct answer ✅Satisfying needs and wants


Who can perform Marketing? -
correct answer ✅Individuals and Organizations


Core Aspects of Marketing: -
correct answer ✅1. Marketing helps create value
2. Marketing affects stakeholders
3. Marketing can be performance by both individuals and an
organization
4. Marketing requires product, price, place, promotion decisions
5. Marketing entails an exchange
6. Customer satisfaction and customer needs and wants

,MKT 3350 TTU Harper Exam 1 Review
Questions & Answers (Grade A+)
Marketing Mix (4Ps) -
correct answer ✅Price, Place, Promotion, Product


Price -
correct answer ✅-captures value
-money, time, energy
-How much are you willing to pay for the product


Place -
correct answer ✅-delivering value
-supply chain management
-all activities necessary to get product
-Where do you find product in store?


Promotion -
correct answer ✅-communicating value
-informs persuades, reminds
-convince someone to buy something
-reminder that it exists

, MKT 3350 TTU Harper Exam 1 Review
Questions & Answers (Grade A+)
Product -
correct answer ✅-creating value
-goods; tangible, touch it
-service; something people do for you
-Ideas; philanthropy, recycling, don't do drugs


Process of Supply Chain Management -
correct answer ✅Raw Material -> Manufacture -> Retailer ->
Consumer


Manufacturer to Retailer -
correct answer ✅B2B


Retailer to Consumer -
correct answer ✅B2C


Consumer A to Consumer B -
correct answer ✅C2C


Stakeholder -
correct answer ✅Society, consumers, employees, supply chain