MKT 352 GVSU Exam 1 Review guide
Question and answers rated A+
2025/2026
Marketing - correct answer ✔an organizational function and a set of processes for creating, capturing,
communicating, and delivering value to customers and for managing customer relationships in ways that
benefit the organization and its stakeholders
Marketing Concept - correct answer ✔the idea that an organization should strive to satisfy the needs of
consumers while also trying to achieve the organization's goals
Marketing strategy - correct answer ✔selecting a segment of the market as the company's target
market and designing the proper "mix" of product / service, price, promotion, and distribution system to
meet the wants and needs of the consumer within the target market
AMA - correct answer ✔American Marketing association
customer value proposition - correct answer ✔a cluster of benefits that an organization promises
customers to satisfy their needs
Old vs new view of business - correct answer ✔
marketing mix - correct answer ✔designing the product/ service, price, promotion and distribution
system to meet the wants and needs of the consumers within the target market
4 ps - correct answer ✔Product, Price, Place, Promotion
information vs data - correct answer ✔information is understandings from data. Data is raw numbers
Question and answers rated A+
2025/2026
Marketing - correct answer ✔an organizational function and a set of processes for creating, capturing,
communicating, and delivering value to customers and for managing customer relationships in ways that
benefit the organization and its stakeholders
Marketing Concept - correct answer ✔the idea that an organization should strive to satisfy the needs of
consumers while also trying to achieve the organization's goals
Marketing strategy - correct answer ✔selecting a segment of the market as the company's target
market and designing the proper "mix" of product / service, price, promotion, and distribution system to
meet the wants and needs of the consumer within the target market
AMA - correct answer ✔American Marketing association
customer value proposition - correct answer ✔a cluster of benefits that an organization promises
customers to satisfy their needs
Old vs new view of business - correct answer ✔
marketing mix - correct answer ✔designing the product/ service, price, promotion and distribution
system to meet the wants and needs of the consumers within the target market
4 ps - correct answer ✔Product, Price, Place, Promotion
information vs data - correct answer ✔information is understandings from data. Data is raw numbers
