MAR3023 EXAM 1 QUESTIONS AND ANSWERS WITH
COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE
Marketing is the activity, set of institutions, and processes that create, capture,
communicate, and ______ value.
deliver
When a toothpaste manufacturer divides the marketplace int smaller targets
based on consumers' ages and habits, this is an example of market ______.
segmentation
A core aspect of marketing, borrowed from economics, includes a(n) ________,
which is a transaction in which things of value are traded by buyers and sellers.
exchange
Creates value
Product
Captures value
Price
Delivers value
Place
Communicates vale
Promotion
The process by which businesses sell to consumers is known as ______
marketing.
,B2C
Which of the following are associated with marketing as defined by the American
Marketing Association? (Check all that apply.)
- Institutions that facilitate the exchange of offerings that have value for customers
- Processes used to create value for clients
- Activities that communicate offerings that have value for society at large
What are supply chain partners? (Select all that apply.)
Retailers
Wholesalers
Transporters
If a car manufacturer wanted to segment its marketplace, it would ______. (Select
all that apply.)
- Identify customer needs for different types of cars (such as sports cars, SUVs, and
family sedans).
- Divide consumers into groups based on their incomes.
What would happen to the global economy if all marketing ceased?
The global economy would plummet.
Which of the following characterizes the relationship between marketing and
exchange?
A buyer and seller trade things of value, leaving each better off than before.
Manufacturers in the production-oriented marketing era at the turn of the 20th
century were concerned with efficient ______, not with satisfying needs of
consumers.
, production
Which of the following are elements of the marketing mix? (Select all that apply.)
Product
Price
Elements of the Marketing Mix (Four Ps)
Product
Price
Place
Promotion
During the sales-oriented era, ______.
manufacturers had the capacity to produce more than consumers were able to buy
Fast Bean sells coffee to Fred to brew and drink at home. This is an example of
business-to-______ marketing.
consumer
When was the consumer "king"?
During the market-oriented era
Which entity does NOT market to the other entity?
Customers to businesses
In order to compete successfully, most firms today, operating in the market
orientation phase of marketing, have to provide their customers with better
________-based marketing than their competitors.
value
COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE
Marketing is the activity, set of institutions, and processes that create, capture,
communicate, and ______ value.
deliver
When a toothpaste manufacturer divides the marketplace int smaller targets
based on consumers' ages and habits, this is an example of market ______.
segmentation
A core aspect of marketing, borrowed from economics, includes a(n) ________,
which is a transaction in which things of value are traded by buyers and sellers.
exchange
Creates value
Product
Captures value
Price
Delivers value
Place
Communicates vale
Promotion
The process by which businesses sell to consumers is known as ______
marketing.
,B2C
Which of the following are associated with marketing as defined by the American
Marketing Association? (Check all that apply.)
- Institutions that facilitate the exchange of offerings that have value for customers
- Processes used to create value for clients
- Activities that communicate offerings that have value for society at large
What are supply chain partners? (Select all that apply.)
Retailers
Wholesalers
Transporters
If a car manufacturer wanted to segment its marketplace, it would ______. (Select
all that apply.)
- Identify customer needs for different types of cars (such as sports cars, SUVs, and
family sedans).
- Divide consumers into groups based on their incomes.
What would happen to the global economy if all marketing ceased?
The global economy would plummet.
Which of the following characterizes the relationship between marketing and
exchange?
A buyer and seller trade things of value, leaving each better off than before.
Manufacturers in the production-oriented marketing era at the turn of the 20th
century were concerned with efficient ______, not with satisfying needs of
consumers.
, production
Which of the following are elements of the marketing mix? (Select all that apply.)
Product
Price
Elements of the Marketing Mix (Four Ps)
Product
Price
Place
Promotion
During the sales-oriented era, ______.
manufacturers had the capacity to produce more than consumers were able to buy
Fast Bean sells coffee to Fred to brew and drink at home. This is an example of
business-to-______ marketing.
consumer
When was the consumer "king"?
During the market-oriented era
Which entity does NOT market to the other entity?
Customers to businesses
In order to compete successfully, most firms today, operating in the market
orientation phase of marketing, have to provide their customers with better
________-based marketing than their competitors.
value
