FOUNDATION OF MARKETING
PEREGRINE GLOBAL EXAM
QUESTIONS & ANSWERS PASSED
ALREADY GRADED A+
Marketing is an exchange between a firm and its customers.
The company offers benefits to its customers and seeks profits. - Correct Answer ✔✔
Marketing
Marketing is the business; it should permeate the entire organization. Marketing and
customer satisfaction is everyone's responsibility to maintain those relationships -
Correct Answer ✔✔ Why is Marketing Important?
define marketing as "the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers,
clients, partners, and society at large. - Correct Answer ✔✔ American Marketing
Association
is a philosophy which guides the attitude of everyone in a firm to stimulate and satisfy
the needs and wants of every customer. - Correct Answer ✔✔ Classical marketing
a strategy involves product strategy, pricing strategy, integrated marketing
communications, channels, and logistics strategy. It needs to offer value to the target
market - Correct Answer ✔✔ Competitive marketing
Marketing Framework Part 1
Examining the External Environment
Customers: Who are they? What are they like? Do we want to draw different
customers?
Company: What are our strengths and weaknesses? What customer benefits can we
provide?
Context: What is happening in our industry that might reshape our future business?
Collaborators: Can we address our customers' needs while strengthening our business
to business (B2B) partnerships?
Competitors: Who are the competitors we must consider? What are their likely actions
and reactions?
, This helps marketers assess any business problem or opportunity in terms of a general
analysis of the entire business situation. The customer and company are central players
in the marketing exchange. The context includes the macro-environment: the economy,
legal constraints, cultural differences, and global segments. - Correct Answer ✔✔ 5 C's
Marketing Framework Part 2
Strategic Marketing Planning
Segmentation: Customers aren't all the same; they vary in their preferences, needs, and
resources.
Targeting: Attracting some of those customers makes better sense than going after
others.
Positioning: Communicate your benefits clearly to your intended customers.
Refers to the fact that businesses or organizations are unlikely to be all things to all
people, so it is best to identify groups or segments of customers who share similar
needs and wants. When the different segments' preferences are understood, then the
organization can identify the targeted segments. - Correct Answer ✔✔ STP
Marketing Framework Part 3
Marketing Tactics
Product: Will customers want what your company is prepared to produce?
Price: Will customers pay what you would like to charge?
Place: Where and how will customers purchase your market offering?
Promotion: What can you tell your customers, or do for them, to entice them to
purchase?
Then starts marketing efforts, A relationship is developed with that target segment by
positioning products in the marketplace via the questions above - Correct Answer ✔✔ 4
P's
Staples (standard, frequently consumed goods such as bread or gas) and impulse
purchases (candy or National Enquirer available near the check-out stand). (B2C low) -
Correct Answer ✔✔ Convenience purchases
Going online to Citysearch.com to find a restaurant and make reservations when
heading out of town. (B2C moderate) - Correct Answer ✔✔ Shopping purchases
PEREGRINE GLOBAL EXAM
QUESTIONS & ANSWERS PASSED
ALREADY GRADED A+
Marketing is an exchange between a firm and its customers.
The company offers benefits to its customers and seeks profits. - Correct Answer ✔✔
Marketing
Marketing is the business; it should permeate the entire organization. Marketing and
customer satisfaction is everyone's responsibility to maintain those relationships -
Correct Answer ✔✔ Why is Marketing Important?
define marketing as "the activity, set of institutions, and processes for creating,
communicating, delivering, and exchanging offerings that have value for customers,
clients, partners, and society at large. - Correct Answer ✔✔ American Marketing
Association
is a philosophy which guides the attitude of everyone in a firm to stimulate and satisfy
the needs and wants of every customer. - Correct Answer ✔✔ Classical marketing
a strategy involves product strategy, pricing strategy, integrated marketing
communications, channels, and logistics strategy. It needs to offer value to the target
market - Correct Answer ✔✔ Competitive marketing
Marketing Framework Part 1
Examining the External Environment
Customers: Who are they? What are they like? Do we want to draw different
customers?
Company: What are our strengths and weaknesses? What customer benefits can we
provide?
Context: What is happening in our industry that might reshape our future business?
Collaborators: Can we address our customers' needs while strengthening our business
to business (B2B) partnerships?
Competitors: Who are the competitors we must consider? What are their likely actions
and reactions?
, This helps marketers assess any business problem or opportunity in terms of a general
analysis of the entire business situation. The customer and company are central players
in the marketing exchange. The context includes the macro-environment: the economy,
legal constraints, cultural differences, and global segments. - Correct Answer ✔✔ 5 C's
Marketing Framework Part 2
Strategic Marketing Planning
Segmentation: Customers aren't all the same; they vary in their preferences, needs, and
resources.
Targeting: Attracting some of those customers makes better sense than going after
others.
Positioning: Communicate your benefits clearly to your intended customers.
Refers to the fact that businesses or organizations are unlikely to be all things to all
people, so it is best to identify groups or segments of customers who share similar
needs and wants. When the different segments' preferences are understood, then the
organization can identify the targeted segments. - Correct Answer ✔✔ STP
Marketing Framework Part 3
Marketing Tactics
Product: Will customers want what your company is prepared to produce?
Price: Will customers pay what you would like to charge?
Place: Where and how will customers purchase your market offering?
Promotion: What can you tell your customers, or do for them, to entice them to
purchase?
Then starts marketing efforts, A relationship is developed with that target segment by
positioning products in the marketplace via the questions above - Correct Answer ✔✔ 4
P's
Staples (standard, frequently consumed goods such as bread or gas) and impulse
purchases (candy or National Enquirer available near the check-out stand). (B2C low) -
Correct Answer ✔✔ Convenience purchases
Going online to Citysearch.com to find a restaurant and make reservations when
heading out of town. (B2C moderate) - Correct Answer ✔✔ Shopping purchases
