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MKT 300 Eaton ASU
Exam 1 Practice
Questions and Answers
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MKT 300 Eaton ASU Exam 1
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1. What is Marketing? An organizational function and a collection of processes designed to
plan for, create, communicate and deliver value to custoemrs and build
effective customer relationships in ways that benefit the organization and
its stakeholders.
2. Marketing is about: Creating Exchanges
Identity
Connections
Relationships
Solving Customer Problems
3. What are the 4 P's of Product
Marketing Price
Promotion
Place (Distribtuion)
- A combination of factors that can be controlled by a company to influence
consumers to purchase its products
4. What are the Condi- Two parties
tions for Exchange? Something of value
Communication and delivery
Freedom to accept or reject
Desire to deal with other parties
5. What are Demograph- Variables that allow us to group people together, an example would be
ics? age or gender.
6. What are Psycho- They are what makes us different from one another, attitudes, aspirations,
graphics? causes.
7. What is the Marketing A consumer oriented philosophy of fulfilling customer needs above all
Concept? else.
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MKT 300 Eaton ASU Exam 1 Practice Questions and Answers
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MKT 300 Eaton ASU Exam 1
Study online at https://quizlet.com/_3nzi0n
8. What are the key ideas Focus on efficiency of internal operations
of the Marketing Pro-
duction Philosophy This technique is very old and outdated it was used by Henry Ford during
his era.
9. What are the key ideas Focus on satisfying customer needs and wants
of the Marketing Mar-
ket Philosophy Began in the 1980s due to the size of the global market. Companies
began getting more and more competitive especially with the emerging
computers and the internet. Companies began focusing on the customer.
10. What are the key ideas Focus on aggressive techniques for overcoming customer resistance
of the Marketing Sales
Philosophy This started in the Great Depression due to lack of customers, companies
needed to begin advertising to create demand.
11. What are the key ideas Focus on satisfying needs and wants while enhancing individual and
of the Marketing Soci- societal well-being
etal Philosophy
Ethical and environmentally friendly, Companies are now starting to realize
the benefits of becoming environmentally aware. Companies such as
General Mills and Toyota have taken this strategy.
12. What is Market Orien- Understanding your customers needs by, Gathering market intelligence
tation by talking to your customers, and then disseminate the knowledge to your
company and then coordinate a response.
13. What are the Key is- Creating Customer Value
sues in Developing Building Long Term Relationships
a Competitive Advan- Maintaining Customer Satisfaction
tage
14. What is the Marketing A set of forces, come uncontrollable and some controllable, that influence
Environment? the ability of a business to create value and attract and serve customers.
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MKT 300 Eaton ASU Exam 1 Practice Questions and Answers
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MKT 300 Eaton ASU Exam 1
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15. How has the cus- In terms of values customers nowadays value achievement and success,
tomers values today efficiency and convenience, material comfort, individualism and freedom,
changed socially? fitness and youthfulness.
16. How has the cus- We now have more delayed marriages, Cohabitation, dual career families,
tomers household more divorce, and smaller families
structure changed?
17. What has the greatest The changing roles of women, women now comprise 63% of females in
impact on marketing the workplace. Purchasing power from the dual-career families is rising.
than any other social Women are also living longer.
change?
18. What is generic com- Anything that competes for the same consumer disposable dollars.
petition?
19. What is Form Compe- A product that serves the same purpose as others, such as transportation.
tition?
20. What is Industry com- Competitors who make the same products or class of products but at very
petition? different price points
21. What is Brand Compe- Competitors who offer similar products and service to the same customers
tition? at similar prices
22. What are the types of Kids
consumers? (Charac- Tweens
teristics Demographi- Generation Y
cally) Generation X
Baby Boomers
Ethnic Markets
23.
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MKT 300 Eaton ASU Exam 1 Practice Questions and Answers
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MKT 300 Eaton ASU
Exam 1 Practice
Questions and Answers
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MKTG 434 with comprehensive practice questions and answers (1)
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MKT 300 Eaton ASU Exam 1
Study online at https://quizlet.com/_3nzi0n
1. What is Marketing? An organizational function and a collection of processes designed to
plan for, create, communicate and deliver value to custoemrs and build
effective customer relationships in ways that benefit the organization and
its stakeholders.
2. Marketing is about: Creating Exchanges
Identity
Connections
Relationships
Solving Customer Problems
3. What are the 4 P's of Product
Marketing Price
Promotion
Place (Distribtuion)
- A combination of factors that can be controlled by a company to influence
consumers to purchase its products
4. What are the Condi- Two parties
tions for Exchange? Something of value
Communication and delivery
Freedom to accept or reject
Desire to deal with other parties
5. What are Demograph- Variables that allow us to group people together, an example would be
ics? age or gender.
6. What are Psycho- They are what makes us different from one another, attitudes, aspirations,
graphics? causes.
7. What is the Marketing A consumer oriented philosophy of fulfilling customer needs above all
Concept? else.
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MKT 300 Eaton ASU Exam 1 Practice Questions and Answers
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MKT 300 Eaton ASU Exam 1
Study online at https://quizlet.com/_3nzi0n
8. What are the key ideas Focus on efficiency of internal operations
of the Marketing Pro-
duction Philosophy This technique is very old and outdated it was used by Henry Ford during
his era.
9. What are the key ideas Focus on satisfying customer needs and wants
of the Marketing Mar-
ket Philosophy Began in the 1980s due to the size of the global market. Companies
began getting more and more competitive especially with the emerging
computers and the internet. Companies began focusing on the customer.
10. What are the key ideas Focus on aggressive techniques for overcoming customer resistance
of the Marketing Sales
Philosophy This started in the Great Depression due to lack of customers, companies
needed to begin advertising to create demand.
11. What are the key ideas Focus on satisfying needs and wants while enhancing individual and
of the Marketing Soci- societal well-being
etal Philosophy
Ethical and environmentally friendly, Companies are now starting to realize
the benefits of becoming environmentally aware. Companies such as
General Mills and Toyota have taken this strategy.
12. What is Market Orien- Understanding your customers needs by, Gathering market intelligence
tation by talking to your customers, and then disseminate the knowledge to your
company and then coordinate a response.
13. What are the Key is- Creating Customer Value
sues in Developing Building Long Term Relationships
a Competitive Advan- Maintaining Customer Satisfaction
tage
14. What is the Marketing A set of forces, come uncontrollable and some controllable, that influence
Environment? the ability of a business to create value and attract and serve customers.
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MKT 300 Eaton ASU Exam 1 Practice Questions and Answers
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MKT 300 Eaton ASU Exam 1
Study online at https://quizlet.com/_3nzi0n
15. How has the cus- In terms of values customers nowadays value achievement and success,
tomers values today efficiency and convenience, material comfort, individualism and freedom,
changed socially? fitness and youthfulness.
16. How has the cus- We now have more delayed marriages, Cohabitation, dual career families,
tomers household more divorce, and smaller families
structure changed?
17. What has the greatest The changing roles of women, women now comprise 63% of females in
impact on marketing the workplace. Purchasing power from the dual-career families is rising.
than any other social Women are also living longer.
change?
18. What is generic com- Anything that competes for the same consumer disposable dollars.
petition?
19. What is Form Compe- A product that serves the same purpose as others, such as transportation.
tition?
20. What is Industry com- Competitors who make the same products or class of products but at very
petition? different price points
21. What is Brand Compe- Competitors who offer similar products and service to the same customers
tition? at similar prices
22. What are the types of Kids
consumers? (Charac- Tweens
teristics Demographi- Generation Y
cally) Generation X
Baby Boomers
Ethnic Markets
23.
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MKT 300 Eaton ASU Exam 1 Practice Questions and Answers
