MKT 300 ASU EATON EXAM 1 | VERIFIED STUDY |
QUESTIONS AND ANSWERS | 2026 UPDATES
Marketing - ANSWER- an organizational function and collection of processes designed to
plan for, create, communicate, and deliver value to customers and build effective customer
relationships
Concept of Exhange - ANSWER- Requires two or more parties; something of value; desire;
freedom to accept or reject;
4P's (Marketing Mix) - ANSWER- Product
Price
Promotion
Place(distribution)
Demographics - ANSWER- group people by similar characteristics
Psychographics - ANSWER- differences: individual opinions, actions, skill sets, ...
Marketing Concept - ANSWER- consumer oriented philosophy; consumer provides the
focus
Marketing Management Philosophies - ANSWER- Production
Sales
Market
Societal
Market Orientation - ANSWER- -gather market intelligence
-disseminate knowledge
-coordinate response
Social Changes - ANSWER- Values
Household
Component
, Women
Competition - ANSWER- Generic - same price
Form - same purpose
Industry - same category, different price
Brand -similar product, same price, same customer
Consumers - ANSWER- generational and ethnic differences/changes
Porter's 5 Environmental Forces - ANSWER- Threat of Entry
Supplier Power
Buyer Power
Threat of Substitutes
competitive Rivalry
Segmentation - ANSWER- dividing the market based on needs and benefits;
demographics; lifestyle; behavior; ...
Segment Criteria - ANSWER- homogeneous
heterogeneous
substantial
identifiable
responsive
Targeting - ANSWER- selecting the most appropriate markets
Targeting Strategies - ANSWER- undifferentiated
differentiated
niche
micro
Positioning - ANSWER- placement of a product or service
Perceptual Mapping - ANSWER- means of displaying or graphing the location of products,
brands, or groups of products in customers' minds
QUESTIONS AND ANSWERS | 2026 UPDATES
Marketing - ANSWER- an organizational function and collection of processes designed to
plan for, create, communicate, and deliver value to customers and build effective customer
relationships
Concept of Exhange - ANSWER- Requires two or more parties; something of value; desire;
freedom to accept or reject;
4P's (Marketing Mix) - ANSWER- Product
Price
Promotion
Place(distribution)
Demographics - ANSWER- group people by similar characteristics
Psychographics - ANSWER- differences: individual opinions, actions, skill sets, ...
Marketing Concept - ANSWER- consumer oriented philosophy; consumer provides the
focus
Marketing Management Philosophies - ANSWER- Production
Sales
Market
Societal
Market Orientation - ANSWER- -gather market intelligence
-disseminate knowledge
-coordinate response
Social Changes - ANSWER- Values
Household
Component
, Women
Competition - ANSWER- Generic - same price
Form - same purpose
Industry - same category, different price
Brand -similar product, same price, same customer
Consumers - ANSWER- generational and ethnic differences/changes
Porter's 5 Environmental Forces - ANSWER- Threat of Entry
Supplier Power
Buyer Power
Threat of Substitutes
competitive Rivalry
Segmentation - ANSWER- dividing the market based on needs and benefits;
demographics; lifestyle; behavior; ...
Segment Criteria - ANSWER- homogeneous
heterogeneous
substantial
identifiable
responsive
Targeting - ANSWER- selecting the most appropriate markets
Targeting Strategies - ANSWER- undifferentiated
differentiated
niche
micro
Positioning - ANSWER- placement of a product or service
Perceptual Mapping - ANSWER- means of displaying or graphing the location of products,
brands, or groups of products in customers' minds
