MCS 1000 FINAL EXAM 2026/2027 | STUDY GUIDE, PRACTICE
QUESTIONS AND ANSWERS
Marketing - Correct answer✅✅ activity of creating, communicating, delivering and exchanging
offerings that benefit the organization, its stakeholders and society at large
1. Two or more parties with unsatisfied needs
2. desire and ability on their part to be satisfied
3. a way of parties to communicate
4. something to exchange - Correct answer✅✅ requirements for marketing to occur
Market - Correct answer✅✅ people with the desire and ability to buy specific product
Social Marketing - Correct answer✅✅ designed to influence the behaviour of individuals in which the
benefits od those behaviour accrue to those individuals or to society in general and not to the marketer
Ultimate consumers - Correct answer✅✅ all people who use the goods and services purchased for a
household
organizational buyers - Correct answer✅✅ maufacturers, wholesalers, retailers, and government
agencies that buy goods and services for their own use
target market - Correct answer✅✅ one or specific groups of potential consumers towards which an
organization directs its marketing program
1. Product
2. Price
3. Promotion
4. Place - Correct answer✅✅ 4 P's of Marketing
,Marketing mix - Correct answer✅✅ marketing actions of 4 Ps, that he or she can take to create,
communicate and deliver value
environmental forces - Correct answer✅✅ uncontrollable factors involving social , economic,
technological, competitive and regulatory forces
marketing program - Correct answer✅✅ a plan that integrates the marketing mix to provide a good or
service, or idea to prospective buyers
Production Era - Correct answer✅✅ -central notion was products would sell themselves
Sales Era - Correct answer✅✅ -more goods made than consumed
-competition grew
-more sales people hired
Marketing concept (era as well) - Correct answer✅✅ idea that an organization should strive to satisfy
the needs of consumers, while also trying to achieve goals
Marketing orientation (era as well) - Correct answer✅✅ 1. continuously collecting information about
customers
2. sharing this information throughout the organization
3. using information to create value
customer value - Correct answer✅✅ unique combination of benefits received by the customer that
include quality, price, convenience, on time delivery and both before-sale and after sale service
customer satisfaction - Correct answer✅✅ match between customer expectations of the product and
the product's actual performance
customer relationship management - Correct answer✅✅ process of devleoping long term
relationships
,customer lifetime value - Correct answer✅✅ profit generated by the customer's purchase of an
organziations product or service over customers life time
eCRM - Correct answer✅✅ a web-centric personailized approach to managing long term customer
relationships electronically
interactive marketing - Correct answer✅✅ involves two way buyer seller electronic communication in
which the buyer can control the kind and amount of information received from the seller
customer experience management - Correct answer✅✅ managing the customers interactions with
the organization at all levels
social media marketing - Correct answer✅✅ consumer generated online marketing efforts to promote
brands and companies for the ones they like
social CRM - Correct answer✅✅ the use of social media to enable organizations to engage customers
in collaborative conversations for mutually beneficial value
ethics - Correct answer✅✅ the moral principles and values that govern the actions and decisions of
individual or group
social responsibility - Correct answer✅✅ individuals and organizations are part of a larger society and
are accountable to that society for their actions
societal marketing concept - Correct answer✅✅ view that an organization should discover and satisfy
the needs of its consumers in a way that also provides for society's well being
macromarketing - Correct answer✅✅ aggregate flow of a nation's goods and services to benefit
soceity
micromarketing - Correct answer✅✅ how and individual organization directs its marketing activities
and allocates its resources to benefit its customers
, consumer behaviour - Correct answer✅✅ actions that a person takes in purchasing and using
products and services, including the mental and social processes that precede and follow these actions
purchase decision process - Correct answer✅✅ stages a buyer passes through in making choices about
which products and services to buy
5 stages of purchase decision process - Correct answer✅✅ 1. problem recognition
2. information search
3. alternative evaluation
4. purchase decision
5. post-purchase behaviour
evaluative criteria - Correct answer✅✅ factors that represent both the objective attributes of a brand
and the subjective ones
consideration set - Correct answer✅✅ The group of brands that a consumer would consider
acceptable from among all the brands of which he or she is aware.
cognitive dissonance - Correct answer✅✅ Feeling of post-purchase psychological tension or anxiety.
involvement - Correct answer✅✅ The personal, social, and economic significance of the purchase to
the consumer.
situational influences - Correct answer✅✅ Conditions that have an impact on your purchase decision
process: (1) the purchase task, (2) social surroundings, (3) physical surroundings, (4) temporal effects,
and (5) antecedent states.
motivation - Correct answer✅✅ The energizing force that causes behaviour that satisfies a need.
personality - Correct answer✅✅ A person's consistent behaviours or responses to recurring situations.
QUESTIONS AND ANSWERS
Marketing - Correct answer✅✅ activity of creating, communicating, delivering and exchanging
offerings that benefit the organization, its stakeholders and society at large
1. Two or more parties with unsatisfied needs
2. desire and ability on their part to be satisfied
3. a way of parties to communicate
4. something to exchange - Correct answer✅✅ requirements for marketing to occur
Market - Correct answer✅✅ people with the desire and ability to buy specific product
Social Marketing - Correct answer✅✅ designed to influence the behaviour of individuals in which the
benefits od those behaviour accrue to those individuals or to society in general and not to the marketer
Ultimate consumers - Correct answer✅✅ all people who use the goods and services purchased for a
household
organizational buyers - Correct answer✅✅ maufacturers, wholesalers, retailers, and government
agencies that buy goods and services for their own use
target market - Correct answer✅✅ one or specific groups of potential consumers towards which an
organization directs its marketing program
1. Product
2. Price
3. Promotion
4. Place - Correct answer✅✅ 4 P's of Marketing
,Marketing mix - Correct answer✅✅ marketing actions of 4 Ps, that he or she can take to create,
communicate and deliver value
environmental forces - Correct answer✅✅ uncontrollable factors involving social , economic,
technological, competitive and regulatory forces
marketing program - Correct answer✅✅ a plan that integrates the marketing mix to provide a good or
service, or idea to prospective buyers
Production Era - Correct answer✅✅ -central notion was products would sell themselves
Sales Era - Correct answer✅✅ -more goods made than consumed
-competition grew
-more sales people hired
Marketing concept (era as well) - Correct answer✅✅ idea that an organization should strive to satisfy
the needs of consumers, while also trying to achieve goals
Marketing orientation (era as well) - Correct answer✅✅ 1. continuously collecting information about
customers
2. sharing this information throughout the organization
3. using information to create value
customer value - Correct answer✅✅ unique combination of benefits received by the customer that
include quality, price, convenience, on time delivery and both before-sale and after sale service
customer satisfaction - Correct answer✅✅ match between customer expectations of the product and
the product's actual performance
customer relationship management - Correct answer✅✅ process of devleoping long term
relationships
,customer lifetime value - Correct answer✅✅ profit generated by the customer's purchase of an
organziations product or service over customers life time
eCRM - Correct answer✅✅ a web-centric personailized approach to managing long term customer
relationships electronically
interactive marketing - Correct answer✅✅ involves two way buyer seller electronic communication in
which the buyer can control the kind and amount of information received from the seller
customer experience management - Correct answer✅✅ managing the customers interactions with
the organization at all levels
social media marketing - Correct answer✅✅ consumer generated online marketing efforts to promote
brands and companies for the ones they like
social CRM - Correct answer✅✅ the use of social media to enable organizations to engage customers
in collaborative conversations for mutually beneficial value
ethics - Correct answer✅✅ the moral principles and values that govern the actions and decisions of
individual or group
social responsibility - Correct answer✅✅ individuals and organizations are part of a larger society and
are accountable to that society for their actions
societal marketing concept - Correct answer✅✅ view that an organization should discover and satisfy
the needs of its consumers in a way that also provides for society's well being
macromarketing - Correct answer✅✅ aggregate flow of a nation's goods and services to benefit
soceity
micromarketing - Correct answer✅✅ how and individual organization directs its marketing activities
and allocates its resources to benefit its customers
, consumer behaviour - Correct answer✅✅ actions that a person takes in purchasing and using
products and services, including the mental and social processes that precede and follow these actions
purchase decision process - Correct answer✅✅ stages a buyer passes through in making choices about
which products and services to buy
5 stages of purchase decision process - Correct answer✅✅ 1. problem recognition
2. information search
3. alternative evaluation
4. purchase decision
5. post-purchase behaviour
evaluative criteria - Correct answer✅✅ factors that represent both the objective attributes of a brand
and the subjective ones
consideration set - Correct answer✅✅ The group of brands that a consumer would consider
acceptable from among all the brands of which he or she is aware.
cognitive dissonance - Correct answer✅✅ Feeling of post-purchase psychological tension or anxiety.
involvement - Correct answer✅✅ The personal, social, and economic significance of the purchase to
the consumer.
situational influences - Correct answer✅✅ Conditions that have an impact on your purchase decision
process: (1) the purchase task, (2) social surroundings, (3) physical surroundings, (4) temporal effects,
and (5) antecedent states.
motivation - Correct answer✅✅ The energizing force that causes behaviour that satisfies a need.
personality - Correct answer✅✅ A person's consistent behaviours or responses to recurring situations.
