MCS 1000 Final Exam | UPDATED Questions with 100% Verified
Answers
Question:
Marketing
Answer:
activity of creating, communicating, delivering and exchanging offerings that benefit the
organization, its stakeholders and society at large
Question:
1. Two or more parties with unsatisfied needs
2. desire and ability on their part to be satisfied
3. a way of parties to communicate
4. something to exchange
Answer:
requirements for marketing to occur
Question:
Market
Answer:
people with the desire and ability to buy specific product
Question:
Social Marketing
Answer:
designed to influence the behaviour of individuals in which the benefits od those
behaviour accrue to those individuals or to society in general and not to the marketer
Question:
Ultimate consumers
Answer:
all people who use the goods and services purchased for a household
Question:
,organizational buyers
Answer:
maufacturers, wholesalers, retailers, and government agencies that buy goods and
services for their own use
Question:
target market
Answer:
one or specific groups of potential consumers towards which an organization directs its
marketing program
Question:
1. Product
2. Price
3. Promotion
4. Place
Answer:
4 P's of Marketing
Question:
Marketing mix
Answer:
marketing actions of 4 Ps, that he or she can take to create, communicate and deliver
value
Question:
environmental forces
Answer:
uncontrollable factors involving social , economic, technological, competitive and
regulatory forces
Question:
marketing program
, Answer:
a plan that integrates the marketing mix to provide a good or service, or idea to
prospective buyers
Question:
Production Era
Answer:
-central notion was products would sell themselves
Question:
Sales Era
Answer:
-more goods made than consumed
-competition grew
-more sales people hired
Question:
Marketing concept (era as well)
Answer:
idea that an organization should strive to satisfy the needs of consumers, while also
trying to achieve goals
Question:
Marketing orientation (era as well)
Answer:
1. continuously collecting information about customers
2. sharing this information throughout the organization
3. using information to create value
Question:
customer value
Answer:
unique combination of benefits received by the customer that include quality, price,
convenience, on time delivery and both before-sale and after sale service
, Question:
customer satisfaction
Answer:
match between customer expectations of the product and the product's actual
performance
Question:
customer relationship management
Answer:
process of devleoping long term relationships
Question:
customer lifetime value
Answer:
profit generated by the customer's purchase of an organziations product or service over
customers life time
Question:
eCRM
Answer:
a web-centric personailized approach to managing long term customer relationships
electronically
Question:
interactive marketing
Answer:
involves two way buyer seller electronic communication in which the buyer can control
the kind and amount of information received from the seller
Question:
customer experience management
Answer:
managing the customers interactions with the organization at all levels
Answers
Question:
Marketing
Answer:
activity of creating, communicating, delivering and exchanging offerings that benefit the
organization, its stakeholders and society at large
Question:
1. Two or more parties with unsatisfied needs
2. desire and ability on their part to be satisfied
3. a way of parties to communicate
4. something to exchange
Answer:
requirements for marketing to occur
Question:
Market
Answer:
people with the desire and ability to buy specific product
Question:
Social Marketing
Answer:
designed to influence the behaviour of individuals in which the benefits od those
behaviour accrue to those individuals or to society in general and not to the marketer
Question:
Ultimate consumers
Answer:
all people who use the goods and services purchased for a household
Question:
,organizational buyers
Answer:
maufacturers, wholesalers, retailers, and government agencies that buy goods and
services for their own use
Question:
target market
Answer:
one or specific groups of potential consumers towards which an organization directs its
marketing program
Question:
1. Product
2. Price
3. Promotion
4. Place
Answer:
4 P's of Marketing
Question:
Marketing mix
Answer:
marketing actions of 4 Ps, that he or she can take to create, communicate and deliver
value
Question:
environmental forces
Answer:
uncontrollable factors involving social , economic, technological, competitive and
regulatory forces
Question:
marketing program
, Answer:
a plan that integrates the marketing mix to provide a good or service, or idea to
prospective buyers
Question:
Production Era
Answer:
-central notion was products would sell themselves
Question:
Sales Era
Answer:
-more goods made than consumed
-competition grew
-more sales people hired
Question:
Marketing concept (era as well)
Answer:
idea that an organization should strive to satisfy the needs of consumers, while also
trying to achieve goals
Question:
Marketing orientation (era as well)
Answer:
1. continuously collecting information about customers
2. sharing this information throughout the organization
3. using information to create value
Question:
customer value
Answer:
unique combination of benefits received by the customer that include quality, price,
convenience, on time delivery and both before-sale and after sale service
, Question:
customer satisfaction
Answer:
match between customer expectations of the product and the product's actual
performance
Question:
customer relationship management
Answer:
process of devleoping long term relationships
Question:
customer lifetime value
Answer:
profit generated by the customer's purchase of an organziations product or service over
customers life time
Question:
eCRM
Answer:
a web-centric personailized approach to managing long term customer relationships
electronically
Question:
interactive marketing
Answer:
involves two way buyer seller electronic communication in which the buyer can control
the kind and amount of information received from the seller
Question:
customer experience management
Answer:
managing the customers interactions with the organization at all levels
