Marketing 3000 Study Guide Questions with
Verified Correct Answers
What is marketing?
the process of planning and executing the conception, pricing, promotion, and distribution of
ideas, goods, and services in exchanges that satisfy individual and organizational objectives
what is the scope of marketing/ what situations can marketing be applied?
to make money $$$
what is marketing's first task?
discover customer needs
what is marketing's second task?
satisfying customer needs
what is the marketing mix? (4P's)
product, price, place, promotion
what are some benefit categories?
functional, social, personal, experimental
what is a functional benefit and give an example of a product that has functional
benefit?
Can get something done with it, is a useful tool (ex. hammer, gas, car, toothbrush, house). For
marketing 3000, the functional benefit is the course credit you will receive, and the
knowledge about marketing you will obtain
what is a social benefit and give an example of a product that has social benefit?
, connects you to others or helps you be more acceptable in others eyes (ex. cell phone,
facebook, bars, twitter, greeting cards, skype, cologne) in Marketing 3000, the social benefit
is that you could meet new friends in the class
what is an experimental benefit and what is an example of a product that had
experimental benefits?
it's about being there and in the moment (ex. football game, concert, golden girls, mascots,
souvenirs, food, traveling, amusement parks, movies) in Marketing 3000, the experimental
benefit is going to lecture
What is a personal benefit and what is an example of a product that has personal
benefits?
helps with self-esteem, feel better as a person (ex. exercise, mirror, make up, showers,
massages, shopping) in Marketing 3000, the personal benefit is you feel good about learning
or doing well
what are some examples of types of costs?
monetary, temporal, psychological, behavioral
what is a monetary cost?
what you pay (ex. tuition)
what is a temporal cost?
the time spent where you could be doing something else (ex. time spent in class, studying for
this)
what is a psychological cost?
the psychological toll it has on you as a person (ex. this chaotic weekend, STRESS)
Verified Correct Answers
What is marketing?
the process of planning and executing the conception, pricing, promotion, and distribution of
ideas, goods, and services in exchanges that satisfy individual and organizational objectives
what is the scope of marketing/ what situations can marketing be applied?
to make money $$$
what is marketing's first task?
discover customer needs
what is marketing's second task?
satisfying customer needs
what is the marketing mix? (4P's)
product, price, place, promotion
what are some benefit categories?
functional, social, personal, experimental
what is a functional benefit and give an example of a product that has functional
benefit?
Can get something done with it, is a useful tool (ex. hammer, gas, car, toothbrush, house). For
marketing 3000, the functional benefit is the course credit you will receive, and the
knowledge about marketing you will obtain
what is a social benefit and give an example of a product that has social benefit?
, connects you to others or helps you be more acceptable in others eyes (ex. cell phone,
facebook, bars, twitter, greeting cards, skype, cologne) in Marketing 3000, the social benefit
is that you could meet new friends in the class
what is an experimental benefit and what is an example of a product that had
experimental benefits?
it's about being there and in the moment (ex. football game, concert, golden girls, mascots,
souvenirs, food, traveling, amusement parks, movies) in Marketing 3000, the experimental
benefit is going to lecture
What is a personal benefit and what is an example of a product that has personal
benefits?
helps with self-esteem, feel better as a person (ex. exercise, mirror, make up, showers,
massages, shopping) in Marketing 3000, the personal benefit is you feel good about learning
or doing well
what are some examples of types of costs?
monetary, temporal, psychological, behavioral
what is a monetary cost?
what you pay (ex. tuition)
what is a temporal cost?
the time spent where you could be doing something else (ex. time spent in class, studying for
this)
what is a psychological cost?
the psychological toll it has on you as a person (ex. this chaotic weekend, STRESS)
