FBLA Intro to Marketing Concepts
ACTUAL Exam Questions and CORRECT
Answers
Markeitng Concept - CORRECT ANSWER - a philosophy in which achieving
organizational goals depends on knowing the needs and wants of target markets and delivering
the desired satisfactions better than competitors do
Benefits of Marketing - CORRECT ANSWER - advantages gained from implementing
business goals
Important of Marketing - CORRECT ANSWER - the significance of marketing in
achieving business goals
Function 1 Involved in Marketing Goods and Service - CORRECT ANSWER --
promotion: developing and implementing ad campaigns to create awareness, attract attention,
and generate interests in the products
Function 2 Involved in Marketing Goods and Service - CORRECT ANSWER - -selling:
developing sales strategies, channels, and tactics to ensure products are effectively distributed
and sold to customers
Function 3 Involved in Marketing Goods and Service - CORRECT ANSWER - -service
management: delivering information, focuses on providing value to the company
Function 4 Involved in Marketing Goods and Service - CORRECT ANSWER - -marketing
information: organizing, storing, and analyzing analytics based on marketing information and
data
Function 5 Involved in Marketing Goods and Service - CORRECT ANSWER - -pricing:
determining the optimal pricing strategy based on market competition and prove value to your
customers
, Function 6 Involved in Marketing Goods and Service - CORRECT ANSWER - -financing:
providing funds for business activities
Function 7 Involved in Marketing Goods and Service - CORRECT ANSWER --
distribution: making a product available for the customers who need it
Marketing Mix - CORRECT ANSWER - -product: the tangible or intangible offerings that
a comapny provides to meet customers needs (features, design, quality, packaging, and branding)
-price: the amount customers are charged for the product service
-place: making the product available to the target market
-promotion: communicate and promote the product to the target market
overall it integrates key marketing strategies that create brand awareness build customer loyalty
and drive product sales
Product Mix - CORRECT ANSWER - the complete set of products and services offered
by a firm
Expansion - CORRECT ANSWER - a comapny increases the number of product lines or
depth within a line
Contraction - CORRECT ANSWER - a comapny narrows its product mix to eliminate
lower-preforming products or lines or to simplify remaining products or lines
Changing an Existing Product - CORRECT ANSWER - a company improves a current
product rather than creating a completely new product
Product Differentiation - CORRECT ANSWER - the characteristic or characteristics that
make your product or service stand out to your target audience
ACTUAL Exam Questions and CORRECT
Answers
Markeitng Concept - CORRECT ANSWER - a philosophy in which achieving
organizational goals depends on knowing the needs and wants of target markets and delivering
the desired satisfactions better than competitors do
Benefits of Marketing - CORRECT ANSWER - advantages gained from implementing
business goals
Important of Marketing - CORRECT ANSWER - the significance of marketing in
achieving business goals
Function 1 Involved in Marketing Goods and Service - CORRECT ANSWER --
promotion: developing and implementing ad campaigns to create awareness, attract attention,
and generate interests in the products
Function 2 Involved in Marketing Goods and Service - CORRECT ANSWER - -selling:
developing sales strategies, channels, and tactics to ensure products are effectively distributed
and sold to customers
Function 3 Involved in Marketing Goods and Service - CORRECT ANSWER - -service
management: delivering information, focuses on providing value to the company
Function 4 Involved in Marketing Goods and Service - CORRECT ANSWER - -marketing
information: organizing, storing, and analyzing analytics based on marketing information and
data
Function 5 Involved in Marketing Goods and Service - CORRECT ANSWER - -pricing:
determining the optimal pricing strategy based on market competition and prove value to your
customers
, Function 6 Involved in Marketing Goods and Service - CORRECT ANSWER - -financing:
providing funds for business activities
Function 7 Involved in Marketing Goods and Service - CORRECT ANSWER --
distribution: making a product available for the customers who need it
Marketing Mix - CORRECT ANSWER - -product: the tangible or intangible offerings that
a comapny provides to meet customers needs (features, design, quality, packaging, and branding)
-price: the amount customers are charged for the product service
-place: making the product available to the target market
-promotion: communicate and promote the product to the target market
overall it integrates key marketing strategies that create brand awareness build customer loyalty
and drive product sales
Product Mix - CORRECT ANSWER - the complete set of products and services offered
by a firm
Expansion - CORRECT ANSWER - a comapny increases the number of product lines or
depth within a line
Contraction - CORRECT ANSWER - a comapny narrows its product mix to eliminate
lower-preforming products or lines or to simplify remaining products or lines
Changing an Existing Product - CORRECT ANSWER - a company improves a current
product rather than creating a completely new product
Product Differentiation - CORRECT ANSWER - the characteristic or characteristics that
make your product or service stand out to your target audience
