MBA 706 DARRAT EXAM 1 MARKETING
CHAPTERS 1 2 5 7 2026 AND 2027 COMPLETE
QUESTIONS WITH CORRECT VERIFIED
ANSWERS FULL TEST BANK.
◎ Marketing management. ANSWER:- *takes place when at least one party to a
potential exchange thinks about the means of achieving desired responses from other
parties.
*the art and science of choosing target markets and getting, keep- ing, and growing
customers through creating, delivering, and communicating superior customer value.
◎ 10 types of entities marketed?. ANSWER:- Goods, services, events, experiences,
persons, places, properties, organizations, information, ideas
◎ Marketer. ANSWER:- is someone who seeks a response—attention, a purchase, a
vote, a donation—from another party, called the prospect.
◎ 8 Demand States. ANSWER:- negative, nonexistent, latent, declining, irregular,
unwholesome, full, overfull
◎ market. ANSWER:- a collection of buyers and sellers who transact over a particular
product or product class
◎ Key Customer Markets. ANSWER:- -Consumer: companies selling mass consumer
goods and services
-business: companies selling business goods and services
-global: global marketplace
-nonprofit and governmental: companies selling to nonprofit organizations
◎ Marketplace. ANSWER:- Physical
a store front
◎ Marketspace. ANSWER:- Digital
shopping on the internet
◎ Metamarket. ANSWER:- a cluster of complementary products and services closely
related in the minds of consumers, but spread across a diverse set of industries.
◎ Needs. ANSWER:- the basic human requirements such as for air, food, water,
clothing, and shelter
, ◎ Demands. ANSWER:- are wants for specific products backed by an ability to pay
◎ 5 types of needs. ANSWER:- 1. Stated needs (The customer wants an inexpensive
car.)
2. Real needs (The customer wants a car whose operating cost, not initial price, is low.)
3. Unstated needs (The customer expects good service from the dealer.)
4. Delight needs (The customer would like the dealer to include an onboard GPS
naviga-
tion system.)
5. Secret needs (The customer wants friends to see him or her as a savvy consumer.)
◎ value proposition. ANSWER:- a set of benefits that sat- isfy those needs.
◎ Brand. ANSWER:- An offering from a known source
◎ Customer value triad. ANSWER:- Value, a central marketing concept, is primarily a
combination of quality, service, and price (qsp), called the _____ ____ ____
◎ satisfaction. ANSWER:- reflects a person's judgment of a product's perceived
performance in relationship to expectations
◎ Communication channels. ANSWER:- deliver and receive messages from target
buyers and include newspapers, magazines, radio, television, mail, telephone,
billboards, posters, fliers, CDs, audiotapes, and the Internet
◎ Marketing Environment. ANSWER:- consists of the task environment and the broad
environment
◎ Task Environment. ANSWER:- includes the actors engaged in producing,
distributing, and promoting the offering
◎ Broad environment. ANSWER:- consists of six components: demographic
environment, economic envi- ronment, social-cultural environment, natural environment,
technological environment, and po- litical-legal environment.
◎ 12 key major societal forces. ANSWER:- 1. Network information technology
2. Globalization
3.deregulation
4.privatization
5. Heightened competition
6. Industry convergence
7. Retail transformation
8. Disintermediation
9. Consumer buying power
CHAPTERS 1 2 5 7 2026 AND 2027 COMPLETE
QUESTIONS WITH CORRECT VERIFIED
ANSWERS FULL TEST BANK.
◎ Marketing management. ANSWER:- *takes place when at least one party to a
potential exchange thinks about the means of achieving desired responses from other
parties.
*the art and science of choosing target markets and getting, keep- ing, and growing
customers through creating, delivering, and communicating superior customer value.
◎ 10 types of entities marketed?. ANSWER:- Goods, services, events, experiences,
persons, places, properties, organizations, information, ideas
◎ Marketer. ANSWER:- is someone who seeks a response—attention, a purchase, a
vote, a donation—from another party, called the prospect.
◎ 8 Demand States. ANSWER:- negative, nonexistent, latent, declining, irregular,
unwholesome, full, overfull
◎ market. ANSWER:- a collection of buyers and sellers who transact over a particular
product or product class
◎ Key Customer Markets. ANSWER:- -Consumer: companies selling mass consumer
goods and services
-business: companies selling business goods and services
-global: global marketplace
-nonprofit and governmental: companies selling to nonprofit organizations
◎ Marketplace. ANSWER:- Physical
a store front
◎ Marketspace. ANSWER:- Digital
shopping on the internet
◎ Metamarket. ANSWER:- a cluster of complementary products and services closely
related in the minds of consumers, but spread across a diverse set of industries.
◎ Needs. ANSWER:- the basic human requirements such as for air, food, water,
clothing, and shelter
, ◎ Demands. ANSWER:- are wants for specific products backed by an ability to pay
◎ 5 types of needs. ANSWER:- 1. Stated needs (The customer wants an inexpensive
car.)
2. Real needs (The customer wants a car whose operating cost, not initial price, is low.)
3. Unstated needs (The customer expects good service from the dealer.)
4. Delight needs (The customer would like the dealer to include an onboard GPS
naviga-
tion system.)
5. Secret needs (The customer wants friends to see him or her as a savvy consumer.)
◎ value proposition. ANSWER:- a set of benefits that sat- isfy those needs.
◎ Brand. ANSWER:- An offering from a known source
◎ Customer value triad. ANSWER:- Value, a central marketing concept, is primarily a
combination of quality, service, and price (qsp), called the _____ ____ ____
◎ satisfaction. ANSWER:- reflects a person's judgment of a product's perceived
performance in relationship to expectations
◎ Communication channels. ANSWER:- deliver and receive messages from target
buyers and include newspapers, magazines, radio, television, mail, telephone,
billboards, posters, fliers, CDs, audiotapes, and the Internet
◎ Marketing Environment. ANSWER:- consists of the task environment and the broad
environment
◎ Task Environment. ANSWER:- includes the actors engaged in producing,
distributing, and promoting the offering
◎ Broad environment. ANSWER:- consists of six components: demographic
environment, economic envi- ronment, social-cultural environment, natural environment,
technological environment, and po- litical-legal environment.
◎ 12 key major societal forces. ANSWER:- 1. Network information technology
2. Globalization
3.deregulation
4.privatization
5. Heightened competition
6. Industry convergence
7. Retail transformation
8. Disintermediation
9. Consumer buying power
