MARKETING 3310 (AUBURN) EXAM 1 QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW!!
Production - (ANSWER)actually making goods or performing services
customer satisfaction - (ANSWER)a firm fulfills a customers needs, desires, and expectations
innovation - (ANSWER)the development and spread of new ideas, goods, and services
Marketing ** - (ANSWER)is the performance of activities that seek to accomplish an organizations
objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and
services from producer to customer or client
pure subsistence economy - (ANSWER)when each family unit produces everything it consumes
Macro-Marketing - (ANSWER)social process that directs an economy's flow of goods and services from
producers to consumers in a way that effectively matches supply and demand and accomplishes the
objective of society
(emphasis on whole system)
economies of scale - (ANSWER)produce more cost goes down
universal functions of marketing - (ANSWER)buying, selling, transporting, storing, standardization and
grading, financing , risk taking, and market information.
buying function - (ANSWER)looking for and evaluating goods and services
selling function - (ANSWER)promoting the product
transporting function - (ANSWER)movement of goods from one place to another
storing function - (ANSWER)holding goods until customers need them
, MARKETING 3310 (AUBURN) EXAM 1 QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW!!
standardization and grading - (ANSWER)sorting products according to size and quality
financing - (ANSWER)necessary cash and credit to produce, transport, store, promote, sell and buy
products
risk taking - (ANSWER)beating the uncertainties that are part of marketing process
market info function - (ANSWER)collection, analysis, and distribution of all info needed to plan, carry
out, and control marketing activities anywhere
intermediary - (ANSWER)someone who specializes in trade rather than production
collaborators - (ANSWER)firms that facilitate or provide one or more of the marketing functions other
than buying or selling.
E-Commerce - (ANSWER)exchanges between individuals or organizations that are based on applications
of information or technology.
Economic System - (ANSWER)way an economy organizes to use scarce resources to produce goods and
services and distribute them for consumption by various people and groups in the society
command economy - (ANSWER)government officials decide what and how much is to be produced and
distributed
Market directed economy - (ANSWER)individual decisions of the many producers and consumers make
the macro level decisions of the whole economy
simple trade era - (ANSWER)families trade or sell their surplus
(VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW!!
Production - (ANSWER)actually making goods or performing services
customer satisfaction - (ANSWER)a firm fulfills a customers needs, desires, and expectations
innovation - (ANSWER)the development and spread of new ideas, goods, and services
Marketing ** - (ANSWER)is the performance of activities that seek to accomplish an organizations
objectives by anticipating customer or client needs and directing a flow of need-satisfying goods and
services from producer to customer or client
pure subsistence economy - (ANSWER)when each family unit produces everything it consumes
Macro-Marketing - (ANSWER)social process that directs an economy's flow of goods and services from
producers to consumers in a way that effectively matches supply and demand and accomplishes the
objective of society
(emphasis on whole system)
economies of scale - (ANSWER)produce more cost goes down
universal functions of marketing - (ANSWER)buying, selling, transporting, storing, standardization and
grading, financing , risk taking, and market information.
buying function - (ANSWER)looking for and evaluating goods and services
selling function - (ANSWER)promoting the product
transporting function - (ANSWER)movement of goods from one place to another
storing function - (ANSWER)holding goods until customers need them
, MARKETING 3310 (AUBURN) EXAM 1 QUESTIONS AND CORRECT DETAILED ANSWERS
(VERIFIED ANSWERS) |ALREADY GRADED A+||BRAND NEW!!
standardization and grading - (ANSWER)sorting products according to size and quality
financing - (ANSWER)necessary cash and credit to produce, transport, store, promote, sell and buy
products
risk taking - (ANSWER)beating the uncertainties that are part of marketing process
market info function - (ANSWER)collection, analysis, and distribution of all info needed to plan, carry
out, and control marketing activities anywhere
intermediary - (ANSWER)someone who specializes in trade rather than production
collaborators - (ANSWER)firms that facilitate or provide one or more of the marketing functions other
than buying or selling.
E-Commerce - (ANSWER)exchanges between individuals or organizations that are based on applications
of information or technology.
Economic System - (ANSWER)way an economy organizes to use scarce resources to produce goods and
services and distribute them for consumption by various people and groups in the society
command economy - (ANSWER)government officials decide what and how much is to be produced and
distributed
Market directed economy - (ANSWER)individual decisions of the many producers and consumers make
the macro level decisions of the whole economy
simple trade era - (ANSWER)families trade or sell their surplus
