MKT 240 Test 1 exam questions and complete correct answers 2024

B2B, B2C, C2C - correct answer business to business business to consumer consumer to consumer Market segments - correct answer a group of consumers who respond similarly to a firms marketing efforts. Marketing & society - correct answer The role of marketing in society is to: Provide Goods and Services - The essence of a market involves the exchange of value in the form of goods, services, and information. -entrepreneurial - expand global presence -enriches society - pervasive across channel members Marketing mix - correct answer Product, Price, Place, Promotion Marketing plan - correct answer *Planning phase 1. Define the business mission 2.SWOT *Marketing strategy & Implementation phase 3. Identify opportunities STP 4. Implement marketing mix 4Ps *Control Phase 5.Evaluate performance using marketing metrics