D373 Study Guide Questions
Section 1: MARKETING CONCEPTS
Lesson 1: Marketing Concepts (Stukent, chapter 1)
1. Describe marketing and marketing management.
a. Marketing is identifying, anticipating, and satisfying customer needs and wants through
creating, promoting, and delivering products or services.
b. Marketing management refers to planning, organizing, directing, and controlling the
marketing activities of an organization.
c. Both concepts play a crucial role in a firm's success.
2. Identify and describe the five roles along the marketing career path.
a. Marketing Coordinator/Assistant
i. This is often an entry-level position where individuals support the marketing
team by handling administrative tasks, coordinating marketing activities, and
assisting with the execution of marketing campaigns.
b. Marketing Specialist/Executive
i. At this level, professionals take on more specialized tasks and focus more on
specific marketing areas such as digital marketing, content marketing, or social
media marketing.
c. Marketing Manager
i. Marketing Managers oversee a company's marketing activities or a specific
product line. They are responsible for planning, executing, and measuring the
effectiveness of marketing campaigns.
d. Marketing Director
i. Marketing Directors take on a more strategic role, focusing on long-term
marketing goals and aligning marketing strategies with the overall business
objectives. They often report to the Chief Marketing Officer (CMO) or senior
executives.
e. Chief Marketing Officer (CMO)
i. The CMO is the highest-ranking marketing position in an organization,
responsible for the overall marketing strategy and its execution. Essentially, they
drive business.
3. How does marketing strategy differ from marketing execution? Provide an example of a
marketing strategy, and the associated execution of that strategy.
a. Marketing Strategy refers to a company's plan and approach to reach its marketing
goals. Marketing Execution is the implementation of the marketing strategy. It involves
the actual activities and tactics used to carry out the strategy.
b. Example: A company wants to release a new product that is targeted at a specific group;
the strategy would be to seek out the target market, personas of the target market,
objective, positioning, and analysis. Executing would be advertisements, social media
engagement, emails, and partnerships or sponsors with influences.
,4. How does a “prospect” differ from a “customer”?
a. A prospect is an individual or organization that has the potential to become a customer
but has not yet made a purchase. A customer is an individual or organization that has
already made a purchase.
5. What are the four aspects of the traditional Marketing Mix (the 4 P’s). Identify an example of
each.
a. Product- the item or service a company offers to meet the needs and wants of
consumers
b. Price- the amount of money a person must pay to acquire a product
c. Place- the locations and methods used to make a product available; think distribution
center, store, or online platforms
d. Promotion-the various methods used to communicate the benefits of the product, such
as advertising, sales promos, and social media marketing
6. What are the three additional aspects or “P”s added to the traditional marketing mix?
a. People- everyone involved in the delivery of a service (employees, management,
customers)
b. Process- the procedures, mechanisms, and flow of activities of how services are
consumed
c. Physical Evidence- tangible aspects such as environment, facilities, etc., that help
customers to evaluate the service before purchase
7. What is market segmentation? How does market segmentation help the company identify the
target market?
a. Market segmentation is dividing a broad consumer or business market into sub-groups
of consumers based on some type of shared characteristics. Market segmentation helps
companies identify their target market by breaking down the larger market into smaller,
more manageable segments.
8. What is meant by “marketing channels”, and what causes channel conflict?
a. Marketing channels refer to the pathways through which goods and services flow from
the producer to the consumer. Channel conflict arises when there is a disagreement
among the members of a distribution channel (Vertical, horizontal, multi-channel)
9. Explain the “value proposition”. Identify a company you believe has a strong value proposition.
a. A value proposition is a statement that clearly identifies the benefits a company's
products or services will deliver to its customers. It explains why a consumer should
choose one product over another and highlights the unique value the product or service
provides. Apple is a company that offers a strong value proposition because it believes
in the customer experience, innovation, and the quality of its products.
10. Identify and briefly describe the following six marketing concepts: production concept, product
concept, selling concept, marketing concept, societal marketing concept, holistic marketing
concept.
a. Production Concept- One of the oldest marketing concepts. It holds that consumers will
prefer products that are widely available and affordable
b. Product Concept- Suggests consumers favor products with the most quality,
performance, and innovative features.
, c. Selling Concept- Based on the idea that consumers will not buy enough of the
company’s products unless it undertakes a large-scale selling and promotion effort.
d. Marketing Concept- Achieving organizational goals depends on knowing the needs and
wants of target markets and delivering the desired satisfactions better than
competitors.
e. Societal Marketing Concept- Extends the marketing concept by including the idea that a
company should make good marketing decisions by considering consumers' wants, the
company’s requirements, and society’s long-term interests.
f. Holistic Marketing Concept- The development, design, and implementation of marketing
programs, processes, and activities that recognize the breadth and interdependencies of
marketing.
Lesson 2: How Marketers Build Brands (Stukent, chapter 2, 3)
1. What is a brand? Identify an example of a brand that you are loyal to.
a. A brand is a name, term, design, symbol, or any other feature that identifies one seller's
goods or services as distinct from those of other sellers. Brands are not just about logos
or slogans; they encompass the entire experience a customer has with a product or
service.
b. A brand I’m loyal to is Vans, as I have been purchasing their shoes since I was a
teenager. They’re a strong brand that speaks to my personal style via their marketing
campaigns, advertisements, stories, and partnerships with various companies.
2. Using the brand example from the previous question, identify the brand promise and brand
positioning.
a. To enable creative expression and inspire youth culture by celebrating and encouraging
the “Off the Wall” attitude from expressing your true self.
b. The brand helps to relate to a community of belonging and self-expression.
3. Using that same example, identify and describe at least five brand identity elements.
a. Logo, colors, packaging, patterns, distinct design of each product
4. Identify and describe the five types of benefits linked to brand preference. Identify a brand that
you engage with. Which of the noted benefits have led to your brand preference?
a. Functional Benefits- the practical benefits that a product or service provides. They
address the basic needs and solve specific problems for the consumer.
b. Emotional Benefits- the feelings or psychological rewards a customer experiences when
using a brand
c. Social Benefits- the advantages a customer gains in the social interactions by using a
particular brand, such as social acceptance, recognition, belonging to a specific group
d. Price/ Value for Money- the perceived value a customer gets from a product or service
relative to its actual cost.
Positive and Negative Emotional Benefits- positive or negative feelings a customer
associates with a brand (excitement, satisfaction, stress, or disappointment).
e. A brand preference that I have for a laptop is ASUS ROG gaming laptops, specifically
because of the affordable pricing and the functional benefits where I can use my laptop
for both computer gaming and schoolwork and everything in-between
Section 1: MARKETING CONCEPTS
Lesson 1: Marketing Concepts (Stukent, chapter 1)
1. Describe marketing and marketing management.
a. Marketing is identifying, anticipating, and satisfying customer needs and wants through
creating, promoting, and delivering products or services.
b. Marketing management refers to planning, organizing, directing, and controlling the
marketing activities of an organization.
c. Both concepts play a crucial role in a firm's success.
2. Identify and describe the five roles along the marketing career path.
a. Marketing Coordinator/Assistant
i. This is often an entry-level position where individuals support the marketing
team by handling administrative tasks, coordinating marketing activities, and
assisting with the execution of marketing campaigns.
b. Marketing Specialist/Executive
i. At this level, professionals take on more specialized tasks and focus more on
specific marketing areas such as digital marketing, content marketing, or social
media marketing.
c. Marketing Manager
i. Marketing Managers oversee a company's marketing activities or a specific
product line. They are responsible for planning, executing, and measuring the
effectiveness of marketing campaigns.
d. Marketing Director
i. Marketing Directors take on a more strategic role, focusing on long-term
marketing goals and aligning marketing strategies with the overall business
objectives. They often report to the Chief Marketing Officer (CMO) or senior
executives.
e. Chief Marketing Officer (CMO)
i. The CMO is the highest-ranking marketing position in an organization,
responsible for the overall marketing strategy and its execution. Essentially, they
drive business.
3. How does marketing strategy differ from marketing execution? Provide an example of a
marketing strategy, and the associated execution of that strategy.
a. Marketing Strategy refers to a company's plan and approach to reach its marketing
goals. Marketing Execution is the implementation of the marketing strategy. It involves
the actual activities and tactics used to carry out the strategy.
b. Example: A company wants to release a new product that is targeted at a specific group;
the strategy would be to seek out the target market, personas of the target market,
objective, positioning, and analysis. Executing would be advertisements, social media
engagement, emails, and partnerships or sponsors with influences.
,4. How does a “prospect” differ from a “customer”?
a. A prospect is an individual or organization that has the potential to become a customer
but has not yet made a purchase. A customer is an individual or organization that has
already made a purchase.
5. What are the four aspects of the traditional Marketing Mix (the 4 P’s). Identify an example of
each.
a. Product- the item or service a company offers to meet the needs and wants of
consumers
b. Price- the amount of money a person must pay to acquire a product
c. Place- the locations and methods used to make a product available; think distribution
center, store, or online platforms
d. Promotion-the various methods used to communicate the benefits of the product, such
as advertising, sales promos, and social media marketing
6. What are the three additional aspects or “P”s added to the traditional marketing mix?
a. People- everyone involved in the delivery of a service (employees, management,
customers)
b. Process- the procedures, mechanisms, and flow of activities of how services are
consumed
c. Physical Evidence- tangible aspects such as environment, facilities, etc., that help
customers to evaluate the service before purchase
7. What is market segmentation? How does market segmentation help the company identify the
target market?
a. Market segmentation is dividing a broad consumer or business market into sub-groups
of consumers based on some type of shared characteristics. Market segmentation helps
companies identify their target market by breaking down the larger market into smaller,
more manageable segments.
8. What is meant by “marketing channels”, and what causes channel conflict?
a. Marketing channels refer to the pathways through which goods and services flow from
the producer to the consumer. Channel conflict arises when there is a disagreement
among the members of a distribution channel (Vertical, horizontal, multi-channel)
9. Explain the “value proposition”. Identify a company you believe has a strong value proposition.
a. A value proposition is a statement that clearly identifies the benefits a company's
products or services will deliver to its customers. It explains why a consumer should
choose one product over another and highlights the unique value the product or service
provides. Apple is a company that offers a strong value proposition because it believes
in the customer experience, innovation, and the quality of its products.
10. Identify and briefly describe the following six marketing concepts: production concept, product
concept, selling concept, marketing concept, societal marketing concept, holistic marketing
concept.
a. Production Concept- One of the oldest marketing concepts. It holds that consumers will
prefer products that are widely available and affordable
b. Product Concept- Suggests consumers favor products with the most quality,
performance, and innovative features.
, c. Selling Concept- Based on the idea that consumers will not buy enough of the
company’s products unless it undertakes a large-scale selling and promotion effort.
d. Marketing Concept- Achieving organizational goals depends on knowing the needs and
wants of target markets and delivering the desired satisfactions better than
competitors.
e. Societal Marketing Concept- Extends the marketing concept by including the idea that a
company should make good marketing decisions by considering consumers' wants, the
company’s requirements, and society’s long-term interests.
f. Holistic Marketing Concept- The development, design, and implementation of marketing
programs, processes, and activities that recognize the breadth and interdependencies of
marketing.
Lesson 2: How Marketers Build Brands (Stukent, chapter 2, 3)
1. What is a brand? Identify an example of a brand that you are loyal to.
a. A brand is a name, term, design, symbol, or any other feature that identifies one seller's
goods or services as distinct from those of other sellers. Brands are not just about logos
or slogans; they encompass the entire experience a customer has with a product or
service.
b. A brand I’m loyal to is Vans, as I have been purchasing their shoes since I was a
teenager. They’re a strong brand that speaks to my personal style via their marketing
campaigns, advertisements, stories, and partnerships with various companies.
2. Using the brand example from the previous question, identify the brand promise and brand
positioning.
a. To enable creative expression and inspire youth culture by celebrating and encouraging
the “Off the Wall” attitude from expressing your true self.
b. The brand helps to relate to a community of belonging and self-expression.
3. Using that same example, identify and describe at least five brand identity elements.
a. Logo, colors, packaging, patterns, distinct design of each product
4. Identify and describe the five types of benefits linked to brand preference. Identify a brand that
you engage with. Which of the noted benefits have led to your brand preference?
a. Functional Benefits- the practical benefits that a product or service provides. They
address the basic needs and solve specific problems for the consumer.
b. Emotional Benefits- the feelings or psychological rewards a customer experiences when
using a brand
c. Social Benefits- the advantages a customer gains in the social interactions by using a
particular brand, such as social acceptance, recognition, belonging to a specific group
d. Price/ Value for Money- the perceived value a customer gets from a product or service
relative to its actual cost.
Positive and Negative Emotional Benefits- positive or negative feelings a customer
associates with a brand (excitement, satisfaction, stress, or disappointment).
e. A brand preference that I have for a laptop is ASUS ROG gaming laptops, specifically
because of the affordable pricing and the functional benefits where I can use my laptop
for both computer gaming and schoolwork and everything in-between
