Marketing 201 Exam 1 Study Guide and Practice Questions
Marketing - correct answer ✔✔ The activity, set of institutions, and processes for creating,
capturing, communicating, delivering, and exchanging offerings that have value for customers,
clients, partners, and society at large.
Marketing entails an... - correct answer ✔✔ Exchange
4 P's of marketing - correct answer ✔✔ Product
Price
Place
Promotion
Product - correct answer ✔✔ Creates value be developing a variety of offerings including goods,
services, and ideas to satisfy customer needs.
Price - correct answer ✔✔ Everything a buyer gives up(money, time, energy) in exchange for the
product.
Place/ supply chain management - correct answer ✔✔ All activities necessary to get the
product to the right customer when the customer wants it.
Promotion - correct answer ✔✔ Communicated my a marketer that informs, persuades, and
reminds potential buyers about a product to service to influence their opinions or elicit a
response.
Marketing Impacts... - correct answer ✔✔ Consumers
Society
, Employees
Supply Chain
Firms become value driven by... - correct answer ✔✔ 1.) Sharing info
2.) Balancing benefits with costs
3.) Building relationships with customers
4.)Connecting with customers using social/mobile media.
Social and Mobile Marketing - correct answer ✔✔ -93% of marketers use social media for their
business.
-4.2 billion people are linked to some social media site on their mobile devices.
Exchange - correct answer ✔✔ Trade of things of value between the buyer and the seller so that
each is better off as a result.
Goods - correct answer ✔✔ tangible items
Services - correct answer ✔✔ intangible customer benefits that are produced by people or
machines and cannot be separated from the producer.
Ideas - correct answer ✔✔ Thoughts, opinions, and philosophies, and intellectual concepts that
can be marketed.
Supply Chain - correct answer ✔✔ A group of firms that make and deliver a given set of goods
and services.
Value - correct answer ✔✔ Reflects the relationship between benefits and costs.
Marketing - correct answer ✔✔ The activity, set of institutions, and processes for creating,
capturing, communicating, delivering, and exchanging offerings that have value for customers,
clients, partners, and society at large.
Marketing entails an... - correct answer ✔✔ Exchange
4 P's of marketing - correct answer ✔✔ Product
Price
Place
Promotion
Product - correct answer ✔✔ Creates value be developing a variety of offerings including goods,
services, and ideas to satisfy customer needs.
Price - correct answer ✔✔ Everything a buyer gives up(money, time, energy) in exchange for the
product.
Place/ supply chain management - correct answer ✔✔ All activities necessary to get the
product to the right customer when the customer wants it.
Promotion - correct answer ✔✔ Communicated my a marketer that informs, persuades, and
reminds potential buyers about a product to service to influence their opinions or elicit a
response.
Marketing Impacts... - correct answer ✔✔ Consumers
Society
, Employees
Supply Chain
Firms become value driven by... - correct answer ✔✔ 1.) Sharing info
2.) Balancing benefits with costs
3.) Building relationships with customers
4.)Connecting with customers using social/mobile media.
Social and Mobile Marketing - correct answer ✔✔ -93% of marketers use social media for their
business.
-4.2 billion people are linked to some social media site on their mobile devices.
Exchange - correct answer ✔✔ Trade of things of value between the buyer and the seller so that
each is better off as a result.
Goods - correct answer ✔✔ tangible items
Services - correct answer ✔✔ intangible customer benefits that are produced by people or
machines and cannot be separated from the producer.
Ideas - correct answer ✔✔ Thoughts, opinions, and philosophies, and intellectual concepts that
can be marketed.
Supply Chain - correct answer ✔✔ A group of firms that make and deliver a given set of goods
and services.
Value - correct answer ✔✔ Reflects the relationship between benefits and costs.
