Busml 3150 - Exam 1 Updated Actual Questions And Correct Answers

BUSML 3150 - EXAM 1 UPDATED ACTUAL QUESTIONS
AND CORRECT ANSWERS

Question:
1. What is marketing about?

Answer:
Identifying, understanding and satisfying buyer demands through exchanges.

Question:
2. 4 Ps of Marketing

Answer:
1.) Product
2.) Place
3.) Promotion
4.) Price

Question:
3. Product is?

Answer:
Creating value

Question:
4. Price captures?

Answer:
Value

Question:
5. Traditional Marketing

Answer:
Talks about satisfying customers

Question:
6. Are satisfied and very satisfied the same thing?

Answer:
No

, Question:
7. You want your customers to be ________________ satisfied
because they make or break you.

Answer:
Extremely

Question:
8. 3 Kinds of Customers

Answer:
1.) Ones that make you money
2.) Ones that could make you money
3.) Ones that cost you money

Question:
9. Which kind of customers are generally your biggest
customer?

Answer:
The customers who make you money

Question:
10. What kind of customers are customers that don't buy
much and are always looking for a deal?

Answer:
Customers that cost you money

Question:
11. Which kind of customers are customers that you should
invest in?

Answer:
New customers or prospective customers

Question:
12. 80/20 Principle

Answer:
-Where the money is
-A large part of your profit comes from a small percentage of your customers

Question:
13. Does the 80/20 rule apply to every organization?

Answer:
Yes