UCF MAR 3023 Exam 1 Study Guide
with correct answers graded A+
updated already passed
Which of the following are associated with marketing, as defined by the
American Marketing Association? (Choose every correct answer.)
Multiple select question.
a.) Organizations that develop industry partnerships for international
outsourcing
b.) Institutions that facilitate the exchange of offerings that have value for
customers
c.) Institutions that implement technologies for increased production efficiency
d.) Activities that communicate offerings that have value for society at large
e.) Processes used to create value for clients - correct answer b, d, e
When a toothpaste manufacturer divides the marketplace into smaller targets
based on benefits sought by the consumer, this is an example of market
______.
Multiple choice question.
a.) satisfaction
b.) segmentation
c.) manufacturing
d.) needs - correct answer b.) segmentation
A core aspect of marketing involves a(n) _______ which is a transaction in
which things of value are traded by buyers and sellers. - correct answer
exchange
,Which of the following are elements of the marketing mix? (Choose every
correct answer.)
Multiple select question.
a.) Portfolio
b.) Product
c.) Price
d.) Purchase - correct answer b, c, d
Reason:
The 4 Ps include product, price, place, and promotion.
A company's Blank______ create(s) value by satisfying customer needs.
a.) production efficiency
b.) product promotions
c.) brand names
d.) products, services, or ideas - correct answer d.) products, services, or ideas
Which of the following characterizes an exchange?
a.) A buyer and seller work together to neither increase nor decrease net
satisfaction.
b.) A seller determines the best way to maximize profit while minimizing buyer
value.
c.) A buyer and seller trade things of value, leaving each better off than before.
d.) A buyer maneuvers a seller into providing maximum value for the lowest
price. - correct answer c.) A buyer and seller trade things of value, leaving each
better off than before.
, Product, the first of the four Ps, is responsible for ______.
a.) establishing prices
b.) communicating promotions
c.) satisfying customer needs
d.) delivering ambiance - correct answer c.) satisfying customer needs
Which of the following are considered ideas? (Choose every correct answer.)
a.) A service
b.) A philosophy
c.) A non-profit organization
d.) An opinion - correct answer b, d
Which of the following describes the fundamental purpose of marketing?
a.) To achieve market dominance by selling as many products and services as
possible
b.) To develop highly original and innovative products
Reason:
c.) To advertise and entertain customers
d.) To create value and satisfy consumer needs through a variety of offerings -
correct answer d.) To create value and satisfy consumer needs through a
variety of offerings
Which of the following are components of price? (Check all that apply.)
a.) Money
b.) Ethical climate
c.) Management style
d.) Time
with correct answers graded A+
updated already passed
Which of the following are associated with marketing, as defined by the
American Marketing Association? (Choose every correct answer.)
Multiple select question.
a.) Organizations that develop industry partnerships for international
outsourcing
b.) Institutions that facilitate the exchange of offerings that have value for
customers
c.) Institutions that implement technologies for increased production efficiency
d.) Activities that communicate offerings that have value for society at large
e.) Processes used to create value for clients - correct answer b, d, e
When a toothpaste manufacturer divides the marketplace into smaller targets
based on benefits sought by the consumer, this is an example of market
______.
Multiple choice question.
a.) satisfaction
b.) segmentation
c.) manufacturing
d.) needs - correct answer b.) segmentation
A core aspect of marketing involves a(n) _______ which is a transaction in
which things of value are traded by buyers and sellers. - correct answer
exchange
,Which of the following are elements of the marketing mix? (Choose every
correct answer.)
Multiple select question.
a.) Portfolio
b.) Product
c.) Price
d.) Purchase - correct answer b, c, d
Reason:
The 4 Ps include product, price, place, and promotion.
A company's Blank______ create(s) value by satisfying customer needs.
a.) production efficiency
b.) product promotions
c.) brand names
d.) products, services, or ideas - correct answer d.) products, services, or ideas
Which of the following characterizes an exchange?
a.) A buyer and seller work together to neither increase nor decrease net
satisfaction.
b.) A seller determines the best way to maximize profit while minimizing buyer
value.
c.) A buyer and seller trade things of value, leaving each better off than before.
d.) A buyer maneuvers a seller into providing maximum value for the lowest
price. - correct answer c.) A buyer and seller trade things of value, leaving each
better off than before.
, Product, the first of the four Ps, is responsible for ______.
a.) establishing prices
b.) communicating promotions
c.) satisfying customer needs
d.) delivering ambiance - correct answer c.) satisfying customer needs
Which of the following are considered ideas? (Choose every correct answer.)
a.) A service
b.) A philosophy
c.) A non-profit organization
d.) An opinion - correct answer b, d
Which of the following describes the fundamental purpose of marketing?
a.) To achieve market dominance by selling as many products and services as
possible
b.) To develop highly original and innovative products
Reason:
c.) To advertise and entertain customers
d.) To create value and satisfy consumer needs through a variety of offerings -
correct answer d.) To create value and satisfy consumer needs through a
variety of offerings
Which of the following are components of price? (Check all that apply.)
a.) Money
b.) Ethical climate
c.) Management style
d.) Time
