MKT 315 EXAMINATION TEST 2026 QUESTIONS
WITH ANSWERS GRADED A+
◉ Exchange. Answer: Involves obtaining a desired product from
someone by offering something in return.
◉ Transaction. Answer: Involves at least two things of value, agreed-
upon conditions, a time of agreement, and a place of agreement.
◉ Two Views of Marketing. Answer: Micro-environment and Macro-
environment
◉ Micro-environment. Answer: - Product, Price, Place, and Promotion.
- Controllable
◉ Macro-environment. Answer: - Laws and Policies
- Demographics
- Social Values
- Technology
- Economy
(Uncontrollable)
,◉ What can be marketed ?. Answer: Goods, services, experiences,
events, persons, places, properties, organizations, information, ideas.
◉ Marketing management. Answer: The activities necessary to achieve
the marketing objectives.
◉ Marketing Manager Job description. Answer: Planning
Implementing
Monitoring
Adjusting
◉ Marketing Strategy. Answer: The way that a company goes about
reaching the desired outcomes needed to do business.
According to American Marketing Association this involves variables
such as the marketing mix, target market, positioning, and marketing
related expenses
◉ The Marketing Mix. Answer: Product, Price, Place, Promotion
◉ Product. Answer: The goods, services or combination of both that are
the main offerings to meet the customers' needs
◉ Price. Answer: Perceived value that a customer sees in terms of giving
money in return for a product
, ◉ Place. Answer: How a product is distributed in the marketplace
◉ Promotion. Answer: The marketing communications that tell potential
customers about the product
◉ SWOT Analysis. Answer: Strengths (Internal Factor) Weaknesses
(Internal Factors) Opportunities (External Factors), and Threats
(External Factors)
◉ Environmental Scan--External. Answer: The nature of competition
within the industry
Competition can be categorized as: Pure competition, Monopolistic
Competition, Oligopoly, Monopoly
◉ Environmental Scan -- Internal. Answer: Organizations are also
characterized by their Mission, vision and Core Values
- An environmental scan includes further analysis of the organization's
structure, orientation toward marketing, and available budget and
resources to support marketing activities
◉ Orientation Toward Marketing. Answer: Organizations' attitudes
toward marketing have evolved over the past 200 to 300 years.
WITH ANSWERS GRADED A+
◉ Exchange. Answer: Involves obtaining a desired product from
someone by offering something in return.
◉ Transaction. Answer: Involves at least two things of value, agreed-
upon conditions, a time of agreement, and a place of agreement.
◉ Two Views of Marketing. Answer: Micro-environment and Macro-
environment
◉ Micro-environment. Answer: - Product, Price, Place, and Promotion.
- Controllable
◉ Macro-environment. Answer: - Laws and Policies
- Demographics
- Social Values
- Technology
- Economy
(Uncontrollable)
,◉ What can be marketed ?. Answer: Goods, services, experiences,
events, persons, places, properties, organizations, information, ideas.
◉ Marketing management. Answer: The activities necessary to achieve
the marketing objectives.
◉ Marketing Manager Job description. Answer: Planning
Implementing
Monitoring
Adjusting
◉ Marketing Strategy. Answer: The way that a company goes about
reaching the desired outcomes needed to do business.
According to American Marketing Association this involves variables
such as the marketing mix, target market, positioning, and marketing
related expenses
◉ The Marketing Mix. Answer: Product, Price, Place, Promotion
◉ Product. Answer: The goods, services or combination of both that are
the main offerings to meet the customers' needs
◉ Price. Answer: Perceived value that a customer sees in terms of giving
money in return for a product
, ◉ Place. Answer: How a product is distributed in the marketplace
◉ Promotion. Answer: The marketing communications that tell potential
customers about the product
◉ SWOT Analysis. Answer: Strengths (Internal Factor) Weaknesses
(Internal Factors) Opportunities (External Factors), and Threats
(External Factors)
◉ Environmental Scan--External. Answer: The nature of competition
within the industry
Competition can be categorized as: Pure competition, Monopolistic
Competition, Oligopoly, Monopoly
◉ Environmental Scan -- Internal. Answer: Organizations are also
characterized by their Mission, vision and Core Values
- An environmental scan includes further analysis of the organization's
structure, orientation toward marketing, and available budget and
resources to support marketing activities
◉ Orientation Toward Marketing. Answer: Organizations' attitudes
toward marketing have evolved over the past 200 to 300 years.
