Marketing 330 Exam 1 Questions and Complete
Answers.
What is marketing - Correct Answer selling, advertising, making a profit, increasing profit
share
What does successful marketing require - Correct Answer managing customer
relationships by attracting new customers, retain current customers, and grow current
customers
How can you attract, retain, and grow customers and your relationships with them? -
Correct Answer meet and satisfy the needs and wants of the consumer, give them value
Value is perceived and determined by who - Correct Answer customers
What is collaborative service - Correct Answer customers participating and collaborating
with companies to create a product or experience
What is key to marketing - Correct Answer understanding consumer behavior
Who is a consumer - Correct Answer person who identifies a need or a want, makes a
purchase, consumes the product, and then disposes of the product
What are the three roles of a consumer - Correct Answer purchaser, influencer, user
Consumers can be who? - Correct Answer individuals, groups (ex. family), or
organizations (psu)
What is consumer behavior - Correct Answer set of value-seeking activities that take
place as people go about addressing realized needs
What does consumer behavior reflect - Correct Answer the totality of consumers
decisions with respect to the acquisition, consumption, and disposition of goods, services,
time and ideas by decision making
Answers.
What is marketing - Correct Answer selling, advertising, making a profit, increasing profit
share
What does successful marketing require - Correct Answer managing customer
relationships by attracting new customers, retain current customers, and grow current
customers
How can you attract, retain, and grow customers and your relationships with them? -
Correct Answer meet and satisfy the needs and wants of the consumer, give them value
Value is perceived and determined by who - Correct Answer customers
What is collaborative service - Correct Answer customers participating and collaborating
with companies to create a product or experience
What is key to marketing - Correct Answer understanding consumer behavior
Who is a consumer - Correct Answer person who identifies a need or a want, makes a
purchase, consumes the product, and then disposes of the product
What are the three roles of a consumer - Correct Answer purchaser, influencer, user
Consumers can be who? - Correct Answer individuals, groups (ex. family), or
organizations (psu)
What is consumer behavior - Correct Answer set of value-seeking activities that take
place as people go about addressing realized needs
What does consumer behavior reflect - Correct Answer the totality of consumers
decisions with respect to the acquisition, consumption, and disposition of goods, services,
time and ideas by decision making
