GCU MKT 315 TEST PAPER 2025/2026 QUESTIONS WITH
ANSWERS GRADED A+
✔✔Product Mix - ✔✔Combo of different offerings(products) a firm(organization)
provides
✔✔Product Line - ✔✔Group of similar products that may be sold to the same market
segment or to different market segments to meet similar needs
✔✔product line extension - ✔✔adding additional products to an existing product line in
order to compete more broadly in the industry
✔✔Micromarketing - ✔✔Developing and executing strategies and tactics to market and
sell a product or service to a very specific target segment
✔✔Shelly went to Spaghetti Co for dinner. She told the waiter that food was better on
her last visit. She is demonstrating? - ✔✔Zone of Tolerance
✔✔Some reasons people decide what to buy - ✔✔Personal, Situational, Psychological,
and Social Interactions
✔✔Marketing Data - ✔✔Demographics, Trends, Buying Habits, Competition, and
Industry Environments
✔✔Sociocultural Factors - ✔✔Factors that include demographics, culture, and
subcultures - Family, social class, subculture, reference groups
✔✔Inseparability in Service - ✔✔Inability to distinguish service provider from the service
✔✔Offering Concept - ✔✔The services a business offers the public or other businesses.
Combination of products and services offered to consumers or other businesses. The
services a business offers the public or other businesses.
✔✔New Buy - ✔✔Purchase that involves a more complex process
✔✔Modified Rebuy - ✔✔Purchases that involve previously purchased goods or services
that are subjected to some significant change, typically involving pricing or volume
✔✔Who is required to have multiple decision-makers in order to appeal to multiple
stakeholders for a single purchase - ✔✔B2B Marketers
✔✔Social Factors - ✔✔Demographics, Culture, Norms
, ✔✔Exchange - ✔✔Obtaining a desired product from someone by offering something in
return
✔✔Transaction - ✔✔Involves at least 2 things of value, agreed upon conditions, a time
of agreement, and a place of agreement
✔✔Micro-Environments (controllable) - ✔✔4 Ps
✔✔Macro-Environments (incontrollable) - ✔✔Laws and Policies, Demographics,
Technology, Social Views, Economy
✔✔Marketing Strategy - ✔✔The way a company goes about reaching the desired
outcomes needed to do business. Marketing Mix, Target Market, Positioning, and
Marketing related expenses
✔✔Environmental Scan - ✔✔Involves analyzing the macro-environment and external
information that could impact the opportunities or threats that a company might
encounter
✔✔Differentiation - ✔✔Creating points of difference in the mind of consumers that
allows a company to stand apart
✔✔Positioning Statement Steps - ✔✔For, Who Need, (the brand) Is, That, Unlike, We
Provide
✔✔Repositioning - ✔✔Changing the consumer's mind about the product or service.
Requires adjustments to the marketing mix and adjusting to consumer's priorities
✔✔STP - ✔✔Segmentation, Target, Positioning
✔✔Marketing Management - ✔✔Activities necessary to achieve the marketing
objectives
✔✔4 Steps to marketing management - ✔✔Planning, Implementing, Monitoring,
Adjusting
✔✔Demographic Segmentation - ✔✔Narrows market by consumer characteristics: Age,
gender, income, ethnicity, and educational status
✔✔Behavioral Segmentation - ✔✔Narrows market by what consumers do
✔✔Target Market - ✔✔Segment of the population selected by the company as the one
to which it will direct its marketing efforts
ANSWERS GRADED A+
✔✔Product Mix - ✔✔Combo of different offerings(products) a firm(organization)
provides
✔✔Product Line - ✔✔Group of similar products that may be sold to the same market
segment or to different market segments to meet similar needs
✔✔product line extension - ✔✔adding additional products to an existing product line in
order to compete more broadly in the industry
✔✔Micromarketing - ✔✔Developing and executing strategies and tactics to market and
sell a product or service to a very specific target segment
✔✔Shelly went to Spaghetti Co for dinner. She told the waiter that food was better on
her last visit. She is demonstrating? - ✔✔Zone of Tolerance
✔✔Some reasons people decide what to buy - ✔✔Personal, Situational, Psychological,
and Social Interactions
✔✔Marketing Data - ✔✔Demographics, Trends, Buying Habits, Competition, and
Industry Environments
✔✔Sociocultural Factors - ✔✔Factors that include demographics, culture, and
subcultures - Family, social class, subculture, reference groups
✔✔Inseparability in Service - ✔✔Inability to distinguish service provider from the service
✔✔Offering Concept - ✔✔The services a business offers the public or other businesses.
Combination of products and services offered to consumers or other businesses. The
services a business offers the public or other businesses.
✔✔New Buy - ✔✔Purchase that involves a more complex process
✔✔Modified Rebuy - ✔✔Purchases that involve previously purchased goods or services
that are subjected to some significant change, typically involving pricing or volume
✔✔Who is required to have multiple decision-makers in order to appeal to multiple
stakeholders for a single purchase - ✔✔B2B Marketers
✔✔Social Factors - ✔✔Demographics, Culture, Norms
, ✔✔Exchange - ✔✔Obtaining a desired product from someone by offering something in
return
✔✔Transaction - ✔✔Involves at least 2 things of value, agreed upon conditions, a time
of agreement, and a place of agreement
✔✔Micro-Environments (controllable) - ✔✔4 Ps
✔✔Macro-Environments (incontrollable) - ✔✔Laws and Policies, Demographics,
Technology, Social Views, Economy
✔✔Marketing Strategy - ✔✔The way a company goes about reaching the desired
outcomes needed to do business. Marketing Mix, Target Market, Positioning, and
Marketing related expenses
✔✔Environmental Scan - ✔✔Involves analyzing the macro-environment and external
information that could impact the opportunities or threats that a company might
encounter
✔✔Differentiation - ✔✔Creating points of difference in the mind of consumers that
allows a company to stand apart
✔✔Positioning Statement Steps - ✔✔For, Who Need, (the brand) Is, That, Unlike, We
Provide
✔✔Repositioning - ✔✔Changing the consumer's mind about the product or service.
Requires adjustments to the marketing mix and adjusting to consumer's priorities
✔✔STP - ✔✔Segmentation, Target, Positioning
✔✔Marketing Management - ✔✔Activities necessary to achieve the marketing
objectives
✔✔4 Steps to marketing management - ✔✔Planning, Implementing, Monitoring,
Adjusting
✔✔Demographic Segmentation - ✔✔Narrows market by consumer characteristics: Age,
gender, income, ethnicity, and educational status
✔✔Behavioral Segmentation - ✔✔Narrows market by what consumers do
✔✔Target Market - ✔✔Segment of the population selected by the company as the one
to which it will direct its marketing efforts
