MCS 1000 Exam Cue Cards UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
, Marketing The process of creating, communicating,
delivering, and exchanging value to satisfy
customer needs and wants.
Needs Basic things people require to live, such as food,
clothing, and shelter.
Wants The specific ways people choose to satisfy their
needs.
B2B marketing when one business sells goods or services to
another business.
B2C marketing when a business sells directly to individual
consumers.
C2C marketing when consumers sell to other consumers.
C2B marketing when individuals offer products or services to
businesses.
Product orientation A business approach focused on making products
efficiently based on what the company can
produce, rather than what customers want.
Market orientation A business approach focused on identifying and
satisfying customer needs and wants better than
competitors.
QUESTIONS AND CORRECT ANSWERS
, Marketing The process of creating, communicating,
delivering, and exchanging value to satisfy
customer needs and wants.
Needs Basic things people require to live, such as food,
clothing, and shelter.
Wants The specific ways people choose to satisfy their
needs.
B2B marketing when one business sells goods or services to
another business.
B2C marketing when a business sells directly to individual
consumers.
C2C marketing when consumers sell to other consumers.
C2B marketing when individuals offer products or services to
businesses.
Product orientation A business approach focused on making products
efficiently based on what the company can
produce, rather than what customers want.
Market orientation A business approach focused on identifying and
satisfying customer needs and wants better than
competitors.
