MKT 100 INTRODUCTION TO
MARKETING QUESTIONS WITH
COMPLETE SOLUTIONS 2025.
Marketing - ANSWER: Understanding that needs of the customer
bb bb bb bb bb bb bb bb
Marketing concepts - ANSWER: Offering the customer what they are looking for
bb bb bb bb bb bb bb bb bb bb bb
Production orientation - ANSWER: Focuses on marketing as a messenger: a way
bb bb bb bb bb bb bb bb bb bb bb
to let customers know about products and assumes that those customers will want
bb bb bb bb bb bb bb bb bb bb bb bb bb
it
bb
Sales orientation - ANSWER: Focuses on marketing as a business ay to convince
bb bb bb bb bb bb bb bb bb bb bb bb
the consumers to buy, giving consumers choice and ensuring companies focus on
bb bb bb bb bb bb bb bb bb bb bb bb
creating market share/building sales volumes
bb bb bb bb bb
Marketing company orientation - ANSWER: Exemplifies the coordination of
bb bb bb bb bb bb bb bb
marketing activities - advertising, sales, and public relations - into one department
bb bb bb bb bb bb bb bb bb bb bb bb
in an organization (tasked to understand the customer rather than just sell to)
bb bb bb bb bb bb bb bb bb bb bb bb bb
Societal marketing orientation - ANSWER: Focuses on marketing as an emphasis
bb bb bb bb bb bb bb bb bb bb
on both consumer wants, and society wants by examining long-term impacts on
bb bb bb bb bb bb bb bb bb bb bb bb
the customer and the environment when satisfying needs
bb bb bb bb bb bb bb bb
Relationship marketing orientation - ANSWER: Focuses on marketing as an
bb bb bb bb bb bb bb bb bb
engagement aided by two essential customer-based strategies: customer
bb bb bb bb bb bb bb bb
satisfaction and relationship marketing
bb bb bb bb
Customer satisfaction - ANSWER: The customer's evaluation of a good or service
bb bb bb bb bb bb bb bb bb bb bb
in terms of whether that good or service has met the customer's needs and
bb bb bb bb bb bb bb bb bb bb bb bb bb bb
expectations
bb
Relationship marketing - ANSWER: A strategy that focuses on keeping and
bb bb bb bb bb bb bb bb bb bb
improving relationships with current customers
bb bb bb bb bb
Customer relationship management (CRM) - ANSWER: A data-mining system to
bb bb bb bb bb bb bb bb bb
help marketers understand each customer on an individual kevk that best serves
bb bb bb bb bb bb bb bb bb bb bb bb
the goal of meeting the needs of customers and building relationships
bb bb bb bb bb bb bb bb bb bb bb
,Exchange - ANSWER: People giving up one thing to receive another thing they
bb bb bb bb bb bb bb bb bb bb bb bb
would rather have
bb bb bb
Customer value - ANSWER: The relationship between benefits and the sacrifice
bb bb bb bb bb bb bb bb bb bb
necessary to obtain those benefits
bb bb bb bb bb
Market segements - ANSWER: Groups of individuals, families, or companies that
bb bb bb bb bb bb bb bb bb bb
are places together because it is believed that they shar similar needs
bb bb bb bb bb bb bb bb bb bb bb bb
Building relationships - ANSWER: Compan s expanding their market share by
bb bb bb bb bb bb bb bb bb bb
attracting new customers, increasing business with existing customers, and
bb bb bb bb bb bb bb bb bb
retaining current customers
bb bb bb
Product - ANSWER: The tangible and intangible aspects of a company's offering
bb bb bb bb bb bb bb bb bb bb bb
Price - ANSWER: The quantifying of a value in exchange for a company's offering
bb bb bb bb bb bb bb bb bb bb bb bb bb
Place - ANSWER: Behind-the-scenes activities of making an offering available to
bb bb bb bb bb bb bb bb bb bb
the customer (channels and logistics)
bb bb bb bb bb
Promotion - ANSWER: Visible marketing activities such as advertising
bb bb bb bb bb bb bb bb
The 4Ps (+3 for services) - ANSWER: Product, price, place, promotion,
bb bb bb bb bb bb bb bb bb bb
Target market - ANSWER: Group of potential customers that managers feel is
bb bb bb bb bb bb bb bb bb bb bb
most likely to buy a form's product
bb bb bb bb bb bb bb
Environmental scanning - ANSWER: Collecting and evaluating environmental
bb bb bb bb bb bb bb
information such as competitive, regulatory economic, social, and technological
bb bb bb bb bb bb bb bb bb
factors
bb
Competitive factors - ANSWER: Diredt competitors, substitutes, new entrants,
bb bb bb bb bb bb bb bb
suppliers, buyers
bb bb
Regulatory factors - ANSWER: Understanding and conforming to the laws and
bb bb bb bb bb bb bb bb bb bb
restrictions created by regulators, and tracking and predicting the shaping laws
bb bb bb bb bb bb bb bb bb bb bb
Economic factors - ANSWER: Understanding, forecasting, and reacting to the
bb bb bb bb bb bb bb bb bb
economic environment
bb bb
Purchasing power - ANSWER: Measured by comparing income to the relative cost
bb bb bb bb bb bb bb bb bb bb bb
of a set standard of goods and services in different geographic areas (income -
bb bb bb bb bb bb bb bb bb bb bb bb bb bb
the cost of living = purchasing power)
bb bb bb bb bb bb bb
Discretionary income - ANSWER: Money to spend d on non-essential items (wants
bb bb bb bb bb bb bb bb bb bb bb
rather than needs)
bb bb bb
, Inflation - ANSWER: A measure of the decreas in value of money, generally
bb bb bb bb bb bb bb bb bb bb bb bb
expressed as the percentage reduction in valu since the previous year
bb bb bb bb bb bb bb bb bb bb bb
Recession - ANSWER: A period of economic activity characterized by negative
bb bb bb bb bb bb bb bb bb bb
growth (when the gross domestic product falls for two consecutive quarters)
bb bb bb bb bb bb bb bb bb bb bb
Social factors - ANSWER: Includes demographics, attitudes, values and lifestyles
bb bb bb bb bb bb bb bb bb
Canadian consumer values - ANSWER: Self-sufficiency, upward mobility, work
bb bb bb bb bb bb bb bb
ethic, and fairness
bb bb bb
Demographic factors - ANSWER: The study of people's vital statistics such as age,
bb bb bb bb bb bb bb bb bb bb bb bb
race, ethnicity and location because they strongly relate to consumer behavior in
bb bb bb bb bb bb bb bb bb bb bb bb
the marketplace
bb bb
Technological factors - ANSWER: The speed and effectiveness with which we
bb bb bb bb bb bb bb bb bb bb
invent and adopt machines and technologies that lift productivity
bb bb bb bb bb bb bb bb bb
Corporate social responsibility (CSR) - ANSWER: A business's concern for social
bb bb bb bb bb bb bb bb bb bb
and environmental welfare
bb bb bb
CREST - ANSWER: Competition, regulations, economic, social needs, and
bb bb bb bb bb bb bb bb
technological innovation
bb bb
Triple bottom line - ANSWER: Profitability, care of the planet, and care for people
bb bb bb bb bb bb bb bb bb bb bb bb bb
CSR Pyramid - ANSWER: (Bottom) economic performance, legal responsibility,
bb bb bb bb bb bb bb bb
ethical responsibilities, philanthropic responsibilities (Top)
bb bb bb bb bb
Green marketing - ANSWER: The development and marketing of products
bb bb bb bb bb bb bb bb bb
designed to minimize negative effects on the physical environment
bb bb bb bb bb bb bb bb bb
Ethics - ANSWER: The moral principles of values that generally govern the
bb bb bb bb bb bb bb bb bb bb bb
conduct of an individual or group
bb bb bb bb bb bb
Ethical development - ANSWER: Preconventional morality (what is immediately
bb bb bb bb bb bb bb bb
rewarded), conventional morality (legality of action - how it is viewed by others),
bb bb bb bb bb bb bb bb bb bb bb bb bb
postconventional morality (how they see or judge themselves)
bb bb bb bb bb bb bb bb
Morals - ANSWER: Rules people develop because of culture al values and norms
bb bb bb bb bb bb bb bb bb bb bb bb
Code of ethics - ANSWER: A guideline to help marketing managers and other
bb bb bb bb bb bb bb bb bb bb bb bb
employees make better decisions
bb bb bb bb
MARKETING QUESTIONS WITH
COMPLETE SOLUTIONS 2025.
Marketing - ANSWER: Understanding that needs of the customer
bb bb bb bb bb bb bb bb
Marketing concepts - ANSWER: Offering the customer what they are looking for
bb bb bb bb bb bb bb bb bb bb bb
Production orientation - ANSWER: Focuses on marketing as a messenger: a way
bb bb bb bb bb bb bb bb bb bb bb
to let customers know about products and assumes that those customers will want
bb bb bb bb bb bb bb bb bb bb bb bb bb
it
bb
Sales orientation - ANSWER: Focuses on marketing as a business ay to convince
bb bb bb bb bb bb bb bb bb bb bb bb
the consumers to buy, giving consumers choice and ensuring companies focus on
bb bb bb bb bb bb bb bb bb bb bb bb
creating market share/building sales volumes
bb bb bb bb bb
Marketing company orientation - ANSWER: Exemplifies the coordination of
bb bb bb bb bb bb bb bb
marketing activities - advertising, sales, and public relations - into one department
bb bb bb bb bb bb bb bb bb bb bb bb
in an organization (tasked to understand the customer rather than just sell to)
bb bb bb bb bb bb bb bb bb bb bb bb bb
Societal marketing orientation - ANSWER: Focuses on marketing as an emphasis
bb bb bb bb bb bb bb bb bb bb
on both consumer wants, and society wants by examining long-term impacts on
bb bb bb bb bb bb bb bb bb bb bb bb
the customer and the environment when satisfying needs
bb bb bb bb bb bb bb bb
Relationship marketing orientation - ANSWER: Focuses on marketing as an
bb bb bb bb bb bb bb bb bb
engagement aided by two essential customer-based strategies: customer
bb bb bb bb bb bb bb bb
satisfaction and relationship marketing
bb bb bb bb
Customer satisfaction - ANSWER: The customer's evaluation of a good or service
bb bb bb bb bb bb bb bb bb bb bb
in terms of whether that good or service has met the customer's needs and
bb bb bb bb bb bb bb bb bb bb bb bb bb bb
expectations
bb
Relationship marketing - ANSWER: A strategy that focuses on keeping and
bb bb bb bb bb bb bb bb bb bb
improving relationships with current customers
bb bb bb bb bb
Customer relationship management (CRM) - ANSWER: A data-mining system to
bb bb bb bb bb bb bb bb bb
help marketers understand each customer on an individual kevk that best serves
bb bb bb bb bb bb bb bb bb bb bb bb
the goal of meeting the needs of customers and building relationships
bb bb bb bb bb bb bb bb bb bb bb
,Exchange - ANSWER: People giving up one thing to receive another thing they
bb bb bb bb bb bb bb bb bb bb bb bb
would rather have
bb bb bb
Customer value - ANSWER: The relationship between benefits and the sacrifice
bb bb bb bb bb bb bb bb bb bb
necessary to obtain those benefits
bb bb bb bb bb
Market segements - ANSWER: Groups of individuals, families, or companies that
bb bb bb bb bb bb bb bb bb bb
are places together because it is believed that they shar similar needs
bb bb bb bb bb bb bb bb bb bb bb bb
Building relationships - ANSWER: Compan s expanding their market share by
bb bb bb bb bb bb bb bb bb bb
attracting new customers, increasing business with existing customers, and
bb bb bb bb bb bb bb bb bb
retaining current customers
bb bb bb
Product - ANSWER: The tangible and intangible aspects of a company's offering
bb bb bb bb bb bb bb bb bb bb bb
Price - ANSWER: The quantifying of a value in exchange for a company's offering
bb bb bb bb bb bb bb bb bb bb bb bb bb
Place - ANSWER: Behind-the-scenes activities of making an offering available to
bb bb bb bb bb bb bb bb bb bb
the customer (channels and logistics)
bb bb bb bb bb
Promotion - ANSWER: Visible marketing activities such as advertising
bb bb bb bb bb bb bb bb
The 4Ps (+3 for services) - ANSWER: Product, price, place, promotion,
bb bb bb bb bb bb bb bb bb bb
Target market - ANSWER: Group of potential customers that managers feel is
bb bb bb bb bb bb bb bb bb bb bb
most likely to buy a form's product
bb bb bb bb bb bb bb
Environmental scanning - ANSWER: Collecting and evaluating environmental
bb bb bb bb bb bb bb
information such as competitive, regulatory economic, social, and technological
bb bb bb bb bb bb bb bb bb
factors
bb
Competitive factors - ANSWER: Diredt competitors, substitutes, new entrants,
bb bb bb bb bb bb bb bb
suppliers, buyers
bb bb
Regulatory factors - ANSWER: Understanding and conforming to the laws and
bb bb bb bb bb bb bb bb bb bb
restrictions created by regulators, and tracking and predicting the shaping laws
bb bb bb bb bb bb bb bb bb bb bb
Economic factors - ANSWER: Understanding, forecasting, and reacting to the
bb bb bb bb bb bb bb bb bb
economic environment
bb bb
Purchasing power - ANSWER: Measured by comparing income to the relative cost
bb bb bb bb bb bb bb bb bb bb bb
of a set standard of goods and services in different geographic areas (income -
bb bb bb bb bb bb bb bb bb bb bb bb bb bb
the cost of living = purchasing power)
bb bb bb bb bb bb bb
Discretionary income - ANSWER: Money to spend d on non-essential items (wants
bb bb bb bb bb bb bb bb bb bb bb
rather than needs)
bb bb bb
, Inflation - ANSWER: A measure of the decreas in value of money, generally
bb bb bb bb bb bb bb bb bb bb bb bb
expressed as the percentage reduction in valu since the previous year
bb bb bb bb bb bb bb bb bb bb bb
Recession - ANSWER: A period of economic activity characterized by negative
bb bb bb bb bb bb bb bb bb bb
growth (when the gross domestic product falls for two consecutive quarters)
bb bb bb bb bb bb bb bb bb bb bb
Social factors - ANSWER: Includes demographics, attitudes, values and lifestyles
bb bb bb bb bb bb bb bb bb
Canadian consumer values - ANSWER: Self-sufficiency, upward mobility, work
bb bb bb bb bb bb bb bb
ethic, and fairness
bb bb bb
Demographic factors - ANSWER: The study of people's vital statistics such as age,
bb bb bb bb bb bb bb bb bb bb bb bb
race, ethnicity and location because they strongly relate to consumer behavior in
bb bb bb bb bb bb bb bb bb bb bb bb
the marketplace
bb bb
Technological factors - ANSWER: The speed and effectiveness with which we
bb bb bb bb bb bb bb bb bb bb
invent and adopt machines and technologies that lift productivity
bb bb bb bb bb bb bb bb bb
Corporate social responsibility (CSR) - ANSWER: A business's concern for social
bb bb bb bb bb bb bb bb bb bb
and environmental welfare
bb bb bb
CREST - ANSWER: Competition, regulations, economic, social needs, and
bb bb bb bb bb bb bb bb
technological innovation
bb bb
Triple bottom line - ANSWER: Profitability, care of the planet, and care for people
bb bb bb bb bb bb bb bb bb bb bb bb bb
CSR Pyramid - ANSWER: (Bottom) economic performance, legal responsibility,
bb bb bb bb bb bb bb bb
ethical responsibilities, philanthropic responsibilities (Top)
bb bb bb bb bb
Green marketing - ANSWER: The development and marketing of products
bb bb bb bb bb bb bb bb bb
designed to minimize negative effects on the physical environment
bb bb bb bb bb bb bb bb bb
Ethics - ANSWER: The moral principles of values that generally govern the
bb bb bb bb bb bb bb bb bb bb bb
conduct of an individual or group
bb bb bb bb bb bb
Ethical development - ANSWER: Preconventional morality (what is immediately
bb bb bb bb bb bb bb bb
rewarded), conventional morality (legality of action - how it is viewed by others),
bb bb bb bb bb bb bb bb bb bb bb bb bb
postconventional morality (how they see or judge themselves)
bb bb bb bb bb bb bb bb
Morals - ANSWER: Rules people develop because of culture al values and norms
bb bb bb bb bb bb bb bb bb bb bb bb
Code of ethics - ANSWER: A guideline to help marketing managers and other
bb bb bb bb bb bb bb bb bb bb bb bb
employees make better decisions
bb bb bb bb
