BU352 – Midterm Questions with complete solution 2025/2026
1. What are the core aspects of marketing? - Helps create value
-Is about satisfying
cus-tomer needs and
wants
-Entails an exchange
-Requires product,
price, place, and
promotion de-cisions
-Can be performed
by both individuals
and orga-nizations
-Occurs in many settings
2. How does marketing entail an exchange? Customers/consumers
(buyers) exchange
money & information
with goods/services
producers (sellers)
who exchange
communications &
delivery
3. How do both buyers and sellers give up The customer gives up
something of value in the exchange?
not only money but
also time and
information, and the
4. Which of the following is NOT part of a firm gives up (delivers)
marketing exchange? the good or service.
A) Sellers provide products or services. C) Marketers assess
B) Sellers communicate and facilitate delivery. the ef-fectiveness of
C)Marketers assess the effectiveness of their their adver-tising.
advertis-ing.
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,U352 - Midterm
) Buyers complete the exchange by giving money and information to the seller.
.What are the four P's of marketing?Product, price, place, pro-motion
6. Which of the 4 P's is creating value? Product
7. Which of the 4 P's is transacting value? Price
8. Which of the 4 P's is delivering value? Place
9. Which of the 4 P's is communicating value? Promotion
10. What are some aspects of Product? Product/service,
brand, size, quality,
features,
packaging,
warranty
11. What are some aspects of price? List price, discounts,
al-lowances, costs,
payment period,
credit terms
12. What are some aspects of place? Marketing channels,
dis-tribution intensity,
lo-cations
(retailers/online),
supply chain,
logistics
13. What are some aspects of promotion? Advertising, sales
pro-motion, personal
selling, public
relations, direct
marketing, and
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31
, electronic media
14. D) communication
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31
1. What are the core aspects of marketing? - Helps create value
-Is about satisfying
cus-tomer needs and
wants
-Entails an exchange
-Requires product,
price, place, and
promotion de-cisions
-Can be performed
by both individuals
and orga-nizations
-Occurs in many settings
2. How does marketing entail an exchange? Customers/consumers
(buyers) exchange
money & information
with goods/services
producers (sellers)
who exchange
communications &
delivery
3. How do both buyers and sellers give up The customer gives up
something of value in the exchange?
not only money but
also time and
information, and the
4. Which of the following is NOT part of a firm gives up (delivers)
marketing exchange? the good or service.
A) Sellers provide products or services. C) Marketers assess
B) Sellers communicate and facilitate delivery. the ef-fectiveness of
C)Marketers assess the effectiveness of their their adver-tising.
advertis-ing.
1/
31
,U352 - Midterm
) Buyers complete the exchange by giving money and information to the seller.
.What are the four P's of marketing?Product, price, place, pro-motion
6. Which of the 4 P's is creating value? Product
7. Which of the 4 P's is transacting value? Price
8. Which of the 4 P's is delivering value? Place
9. Which of the 4 P's is communicating value? Promotion
10. What are some aspects of Product? Product/service,
brand, size, quality,
features,
packaging,
warranty
11. What are some aspects of price? List price, discounts,
al-lowances, costs,
payment period,
credit terms
12. What are some aspects of place? Marketing channels,
dis-tribution intensity,
lo-cations
(retailers/online),
supply chain,
logistics
13. What are some aspects of promotion? Advertising, sales
pro-motion, personal
selling, public
relations, direct
marketing, and
2/
31
, electronic media
14. D) communication
3/
31
