MKTG 3701 Quiz 1 Study Guide 2026–2027 | Marketing
Concepts, Questions & Answers
According to your text, what is the most basic concept in marketing? - correct answers -determining the
difference between consumer needs and wants
All of the following are elements contained in the 4 Ps of the marketing mix EXCEPT? - correct answers -
profit
Daphne used to work in the city where she would take public transportation to work. However, she just
took a new job in the suburbs and now not only has to find a place to live, but also has to buy a car to
get to and from her job. For Daphne, these things represent? - correct answers -a need
In marketing, an exchange refers to? - correct answers -buyers and sellers trading things of value so that
each is better off as a result.
Outdoor Adventures is a company that sells clothing and gear related to all types of outdoor activities. In
an effort to stave off competition, the company has begun keeping a log of customer interests and
hobbies so it can alert them to local events of relevance to them as well as send them articles that
pertain to their favorite activities. In addition, Outdoor Adventures has added a section to their website
where customers can post pictures of themselves using the stores gear. These efforts illustrate how the
firm is engaged in? - correct answers -relationship marketing
What is the premise behind the marketing concept? - correct answers -a focus on satisfying the needs of
the customer
A company that has a market orientation and adheres to the marketing concept does NOT? - correct
answers -fuel sales growth through the application of aggressive sales techniques
1
Concepts, Questions & Answers
According to your text, what is the most basic concept in marketing? - correct answers -determining the
difference between consumer needs and wants
All of the following are elements contained in the 4 Ps of the marketing mix EXCEPT? - correct answers -
profit
Daphne used to work in the city where she would take public transportation to work. However, she just
took a new job in the suburbs and now not only has to find a place to live, but also has to buy a car to
get to and from her job. For Daphne, these things represent? - correct answers -a need
In marketing, an exchange refers to? - correct answers -buyers and sellers trading things of value so that
each is better off as a result.
Outdoor Adventures is a company that sells clothing and gear related to all types of outdoor activities. In
an effort to stave off competition, the company has begun keeping a log of customer interests and
hobbies so it can alert them to local events of relevance to them as well as send them articles that
pertain to their favorite activities. In addition, Outdoor Adventures has added a section to their website
where customers can post pictures of themselves using the stores gear. These efforts illustrate how the
firm is engaged in? - correct answers -relationship marketing
What is the premise behind the marketing concept? - correct answers -a focus on satisfying the needs of
the customer
A company that has a market orientation and adheres to the marketing concept does NOT? - correct
answers -fuel sales growth through the application of aggressive sales techniques
1
