MARKETING 3023 UCF EXAM 1
QUESTIONS WITH 100% CORRECT
ANSWERS | LATEST VERSION 2025/2026.
Marketing - ANS the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners, and
society at large.
Marketing Plan - ANS A written document composed of an analysis of the current marketing
situation, opportunities and threats for the firm, marketing objectives and strategy specified in
terms of the four Ps, action programs, and projected or pro forma income (and other financial)
statements.
exchange - ANS The trade of things of value between the buyer and the seller so that each is
better off as a result.
Goods - ANS Items that can be physically touched.
Services - ANS Any intangible offering that involves a deed, performance, or effort that
cannot be physically possessed; intangible customer benefits that are produced by people or
machines and cannot be separated from the producer.
Ideas - ANS Intellectual concepts—thoughts, opinions, and philosophies.
1 | Page @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, marketing channel management - ANS Also called supply chain management; refers to a set
of approaches and techniques firms employ to efficiently and effectively integrate their
suppliers.
Core Aspects of Marketing - ANS -marketing helps create value
-marketing is about satisfying customer NEEDS and WANTS
-marketing entails an exchange
-marketing requires product, price, place and promotion decisions
-marketing can be performed by both individuals and organizations
-marketing affects various stakeholders
1900-1919 - ANS Production
1920-1949 - ANS Sales
1950-1989 - ANS Marketing
1990-turn of the 21st century - ANS Value-Based Marketing
ROTTEN - ANS Relationships Over Transactions, Ten times out of TEN
A marketing strategy identifies: - ANS (1) a firm's target market(s)
(2) a related marketing mix - its 4 P's
(3) the bases on which the firm plans to build a sustainable competitive advantage.
macro strategies for developing customer value - ANS customer excellence, operational
excellence, product excellence, locational excellence
2 | Page @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
QUESTIONS WITH 100% CORRECT
ANSWERS | LATEST VERSION 2025/2026.
Marketing - ANS the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients, partners, and
society at large.
Marketing Plan - ANS A written document composed of an analysis of the current marketing
situation, opportunities and threats for the firm, marketing objectives and strategy specified in
terms of the four Ps, action programs, and projected or pro forma income (and other financial)
statements.
exchange - ANS The trade of things of value between the buyer and the seller so that each is
better off as a result.
Goods - ANS Items that can be physically touched.
Services - ANS Any intangible offering that involves a deed, performance, or effort that
cannot be physically possessed; intangible customer benefits that are produced by people or
machines and cannot be separated from the producer.
Ideas - ANS Intellectual concepts—thoughts, opinions, and philosophies.
1 | Page @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, marketing channel management - ANS Also called supply chain management; refers to a set
of approaches and techniques firms employ to efficiently and effectively integrate their
suppliers.
Core Aspects of Marketing - ANS -marketing helps create value
-marketing is about satisfying customer NEEDS and WANTS
-marketing entails an exchange
-marketing requires product, price, place and promotion decisions
-marketing can be performed by both individuals and organizations
-marketing affects various stakeholders
1900-1919 - ANS Production
1920-1949 - ANS Sales
1950-1989 - ANS Marketing
1990-turn of the 21st century - ANS Value-Based Marketing
ROTTEN - ANS Relationships Over Transactions, Ten times out of TEN
A marketing strategy identifies: - ANS (1) a firm's target market(s)
(2) a related marketing mix - its 4 P's
(3) the bases on which the firm plans to build a sustainable competitive advantage.
macro strategies for developing customer value - ANS customer excellence, operational
excellence, product excellence, locational excellence
2 | Page @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
