MARKETING 301 MIDTERM PREP UPDATED ACTUAL QUESTIONS AND CORRECT ANSWERS

MARKETING 301 MIDTERM PREP UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS

Question:
1. A ________ is some combination of products, services, information, or experiences provided to
consumers to satisfy a need or want. Question options:
A) market mix
B) market offering
C) value proposition
D) brand positioning
E) market segment
Answer:
B

Question:
2. Marketing is defined as a social and managerial process by which individuals and organizations obtain
what they need and want through ________. Question options:
A)
value creation and exchange
B)
manufacturing efficiencies
C)
innovation and creativity
D) sales and revenue creation
E)
research and development
Answer:
A

Question:
3. Question 3 points Which of the following refers to a set of benefits that a company promises to
deliver to customers to satisfy their needs? Question options:
A)
a cartel
B)
customer lock-in
C)
marketing mix
D)
market segmentation
E)
value proposition
Answer:
E

, Question:
4. Question 4 points ________ are human needs that are shaped by culture and individual personality.
Question options:
A)
Values
B)
Exchanges
C)
Wants
D)
Necessities
E)
Demands
Answer:
C

Question:
5. Question 5 points ________ is the process of developing and maintaining a crucial fit between the
organization's goals and capabilities and its changing marketing opportunities. Question options:
A)
Diversification
B) Market segmentation
C)
Strategic planning
D)
Benchmarking
E)
SWOT analysis
Answer:
C

Question:
6. Question 6 points The marketing mix refers to the set of marketing tools the firm uses to implement
its marketing strategy. Question options: True False
Answer:
True