Marketing exam 1-3, BUL4421 midterm, BUL 4421
Final - FAU Gendler, business law final, BUL 4421-
Midterm FAU Gendler, Business Ethics Test 2 / Perfect
Compilation, Perfect Results / Study Guide Q&A / A+
Score Solution, 2025-2026
Terms in this set (766)
What is the role of the communicating the value of a product to customers
promotion element in the
marketing mix?
How does a new good or It satisfies a perceived marketplace demand.
service create value?
During the rainy season, Elements introduces a line of see-through umbrellas that glow
people look to buy raincoats in the dark.
and umbrellas. Elements, an
apparels manufacturer,
caters to this need. Which
action would represent the
conversion of this need into
a want?
Which statement is a useful It is possible to avoid ethical problems if the ethical issue is
guideline when making clearly identified.
ethical decisions?
the surplus of products in the market beginning in the early
What led to the 1950s
development of the
marketing concept strategy?
,What did firms such as They resorted to personal selling and advertising.
Ford do during the Great
Depression when product
sales decreased?
________ are moral Ethics
standards expected by a
society.
It is absolutely essential that successful marketing helps attract membership and much-needed
nonprofit organizations funds.
engage in marketing efforts
because
Needs are states of felt are created when customers lack something useful or desirable
deprivation that
Which action can be determining the features of a product
considered a product
decision?
production oriented.
Chill is an ice-cream
manufacturer in a
predominantly agrarian
nation. Chill does not spend
too much on marketing its
products. Instead, it focuses
on improving the processes
through which it
manufactures ice cream.
Chill believes that the quality
of the ice cream alone is
enough to differentiate itself
from other manufacturers
and generate sales. In this
scenario, Chill's marketing
strategy is
,Why should marketers It helps them provide products that fulfill customers' wants and
distinguish between needs satisfy their underlying needs.
and wants?
________ refers to the Customer value
perceived benefits, both
monetary and
nonmonetary, that
customers receive from a
product, compared with the
cost associated with
obtaining the product.
The name, term, symbol, A brand
design, or any combination
of these that identifies and
differentiates a firm's
products is referred to as
Why is it important for Most of the world's population lives outside the United
companies to market States.
globally?
communicate that value.
Once a company has created
value, the next thing that the
company must do is to
, Danley's, a chain of discount a reduction in pricing does not necessarily increase overall
stores across the United revenue earned from a product.
States, has many store
brands including Shotz, a line
of sports shoes. Danley's is a
popular brand among regular
store customers and they
vouch for its quality being as
good as other top brands.
Facing competition from
other shoe brands, Danley's
reduced the prices on Shotz
products by 30 percent.
While it sold an average of
800 units per day at a price
of $30 per unit amounting to
$24,000 before the discount,
it sold 1,000 units per day
amounting to $21,000 after
the discount. In analyzing this
scenario, it can be said that
Final - FAU Gendler, business law final, BUL 4421-
Midterm FAU Gendler, Business Ethics Test 2 / Perfect
Compilation, Perfect Results / Study Guide Q&A / A+
Score Solution, 2025-2026
Terms in this set (766)
What is the role of the communicating the value of a product to customers
promotion element in the
marketing mix?
How does a new good or It satisfies a perceived marketplace demand.
service create value?
During the rainy season, Elements introduces a line of see-through umbrellas that glow
people look to buy raincoats in the dark.
and umbrellas. Elements, an
apparels manufacturer,
caters to this need. Which
action would represent the
conversion of this need into
a want?
Which statement is a useful It is possible to avoid ethical problems if the ethical issue is
guideline when making clearly identified.
ethical decisions?
the surplus of products in the market beginning in the early
What led to the 1950s
development of the
marketing concept strategy?
,What did firms such as They resorted to personal selling and advertising.
Ford do during the Great
Depression when product
sales decreased?
________ are moral Ethics
standards expected by a
society.
It is absolutely essential that successful marketing helps attract membership and much-needed
nonprofit organizations funds.
engage in marketing efforts
because
Needs are states of felt are created when customers lack something useful or desirable
deprivation that
Which action can be determining the features of a product
considered a product
decision?
production oriented.
Chill is an ice-cream
manufacturer in a
predominantly agrarian
nation. Chill does not spend
too much on marketing its
products. Instead, it focuses
on improving the processes
through which it
manufactures ice cream.
Chill believes that the quality
of the ice cream alone is
enough to differentiate itself
from other manufacturers
and generate sales. In this
scenario, Chill's marketing
strategy is
,Why should marketers It helps them provide products that fulfill customers' wants and
distinguish between needs satisfy their underlying needs.
and wants?
________ refers to the Customer value
perceived benefits, both
monetary and
nonmonetary, that
customers receive from a
product, compared with the
cost associated with
obtaining the product.
The name, term, symbol, A brand
design, or any combination
of these that identifies and
differentiates a firm's
products is referred to as
Why is it important for Most of the world's population lives outside the United
companies to market States.
globally?
communicate that value.
Once a company has created
value, the next thing that the
company must do is to
, Danley's, a chain of discount a reduction in pricing does not necessarily increase overall
stores across the United revenue earned from a product.
States, has many store
brands including Shotz, a line
of sports shoes. Danley's is a
popular brand among regular
store customers and they
vouch for its quality being as
good as other top brands.
Facing competition from
other shoe brands, Danley's
reduced the prices on Shotz
products by 30 percent.
While it sold an average of
800 units per day at a price
of $30 per unit amounting to
$24,000 before the discount,
it sold 1,000 units per day
amounting to $21,000 after
the discount. In analyzing this
scenario, it can be said that
