MGCR 352 Final Exam Question and
answers correctly solved 2025/2026
Market Product Strategies - correct answer ✔Market Penetration
Product Development
Market Development
Diversification
Market Penetration - correct answer ✔selling MORE products in EXISTING markets
Product Development - correct answer ✔selling NEW products in EXISTING markets
Market Development - correct answer ✔selling EXISTING products in NEW markets (either geographic
or new segments)
Diversification - correct answer ✔selling NEW products in NEW markets
The Strategic Marketing Process (3) - correct answer ✔1. Swot Analysis
2. Market-Product Focus and Goal Setting
3. Marketing Program
Marketing exchanges are driven by... - correct answer ✔1. Needs - physical, social, individual
2. Wants - needs shaped by culture
3. Demands - wants combined with buying power -> getting what you want the most for the best price
What can you sell in Marketing? - correct answer ✔products, services, experiences
,What are the Five Marketing Philosophies? - correct answer ✔1. Production Philosophy
2. Product Philosophy
3. Selling Philosophy
4. Marketing Philosophy
5. Societal Marketing Philosophy
Production Philosophy - correct answer ✔focus on affordability and availability of their products
(toothpaste)
Product Philosophy - correct answer ✔focus on quality and innovation (macbook)
Selling Philosophy - correct answer ✔focus on promoting and hard selling a product (marketing
something you don't want, like life insurance)
**Marketing Philosophy - correct answer ✔focus on customer satisfaction and relationships with the
consumer (harley davidson)
Societal Marketing Philosophy - correct answer ✔focus on a long term value to both consumer and
society (terms)
Push Strategy - correct answer ✔inside out selling -> advertising, promotion, price to PUSH. Leads to
marketing myopia (the failure to recognize value and benefits). Includes Production Philosophy, Product
Philosophy, and Selling Philosophy.
Pull Strategy - correct answer ✔outside-in selling -> firms PULLING info out of consumers, using it to
create. requires information about customers, competitors, and markets. Includes Marketing Philosophy
and Societal Marketing Philosophy.
, Understanding the Customer - correct answer ✔Customer Perceived Value
Customer Satisfaction
Relationship Marketing
Customer Perceived Value - correct answer ✔the subjective view of the marketing offer, compared to
others
Customer Satisfaction - correct answer ✔the subjective view of the value received from the marketing
offers in return for a price. Delight -> value -> price.
Relationship Marketing - correct answer ✔creating financial benefits, social benefits, and structural ties
through relationship building
Customer Lifetime Value - correct answer ✔the value of all the purchases that a customer makes over
a lifetime
What is a Market Segment? - correct answer ✔A small group of relatively homogenous buyers that can
be targeted. Shared characteristics that give them a specific want/need.
What are the 5 types of segmentation? - correct answer ✔Geographic, Demographic, Psychographic,
Behavioural (sought benefits), Behavioural (usage rate)
What are the three strategies to evaluate segmentation? - correct answer ✔Size and Growth of
Segment
Structural Attractiveness
Objectives and Resources
What is targeting? - correct answer ✔picking the segment that is most appropriate for your marketing
strategy - what groups will respond to your 4Ps?
answers correctly solved 2025/2026
Market Product Strategies - correct answer ✔Market Penetration
Product Development
Market Development
Diversification
Market Penetration - correct answer ✔selling MORE products in EXISTING markets
Product Development - correct answer ✔selling NEW products in EXISTING markets
Market Development - correct answer ✔selling EXISTING products in NEW markets (either geographic
or new segments)
Diversification - correct answer ✔selling NEW products in NEW markets
The Strategic Marketing Process (3) - correct answer ✔1. Swot Analysis
2. Market-Product Focus and Goal Setting
3. Marketing Program
Marketing exchanges are driven by... - correct answer ✔1. Needs - physical, social, individual
2. Wants - needs shaped by culture
3. Demands - wants combined with buying power -> getting what you want the most for the best price
What can you sell in Marketing? - correct answer ✔products, services, experiences
,What are the Five Marketing Philosophies? - correct answer ✔1. Production Philosophy
2. Product Philosophy
3. Selling Philosophy
4. Marketing Philosophy
5. Societal Marketing Philosophy
Production Philosophy - correct answer ✔focus on affordability and availability of their products
(toothpaste)
Product Philosophy - correct answer ✔focus on quality and innovation (macbook)
Selling Philosophy - correct answer ✔focus on promoting and hard selling a product (marketing
something you don't want, like life insurance)
**Marketing Philosophy - correct answer ✔focus on customer satisfaction and relationships with the
consumer (harley davidson)
Societal Marketing Philosophy - correct answer ✔focus on a long term value to both consumer and
society (terms)
Push Strategy - correct answer ✔inside out selling -> advertising, promotion, price to PUSH. Leads to
marketing myopia (the failure to recognize value and benefits). Includes Production Philosophy, Product
Philosophy, and Selling Philosophy.
Pull Strategy - correct answer ✔outside-in selling -> firms PULLING info out of consumers, using it to
create. requires information about customers, competitors, and markets. Includes Marketing Philosophy
and Societal Marketing Philosophy.
, Understanding the Customer - correct answer ✔Customer Perceived Value
Customer Satisfaction
Relationship Marketing
Customer Perceived Value - correct answer ✔the subjective view of the marketing offer, compared to
others
Customer Satisfaction - correct answer ✔the subjective view of the value received from the marketing
offers in return for a price. Delight -> value -> price.
Relationship Marketing - correct answer ✔creating financial benefits, social benefits, and structural ties
through relationship building
Customer Lifetime Value - correct answer ✔the value of all the purchases that a customer makes over
a lifetime
What is a Market Segment? - correct answer ✔A small group of relatively homogenous buyers that can
be targeted. Shared characteristics that give them a specific want/need.
What are the 5 types of segmentation? - correct answer ✔Geographic, Demographic, Psychographic,
Behavioural (sought benefits), Behavioural (usage rate)
What are the three strategies to evaluate segmentation? - correct answer ✔Size and Growth of
Segment
Structural Attractiveness
Objectives and Resources
What is targeting? - correct answer ✔picking the segment that is most appropriate for your marketing
strategy - what groups will respond to your 4Ps?
