MKT 320 Exam #1 UNCG Questions With All
Correct & Verified Answers
Marketing Correct answer-Activity, set of institutions and processes for creating, capturing,
communicating, delivering and exchanging offerings that have value for customers, clients, partners
at large.
Bartering is Marketing: T/F? Why? Correct answer-True! Because marketing is any 2 or more
parties exchanging of value
Old View of Marketing Correct answer-Marking a sale "telling and selling"
New View of Marketing Correct answer-Satisfying customer needs
Things that can be marketed: Correct answer--Goods
-Services
-People
-Behaviors
-Organizations
-Information
-Places
Marketing Process Correct answer-1. Understand needs/wants of marketplace/ customer
2. Design a customer driven marketing strategy
3. Construct an integrated marketing program to deliver superior value
4. Build profitable relationships and create customer delight
To succeed in marketing you need to be able to: Correct answer-Analyze needs
Predict wants
Estimate demand
Determine where
Estimate price
Decide promotion
Estimate competition
Provide service
4 P's are: Correct answer-Price
Product
Place
Promotion
Production Era Correct answer-"Can we make it?"
Assumed that customers are interested primarily in product availability at low prices. "A good
product will sell itself"
Sales Oriented Era Correct answer-Sell, sell, sell!
, Consumers aggressively persuaded to buy
Lack of concern for customer needs
Customers not returning
Marketing Oriented Era Correct answer-Company must determine the needs and wants
Marketing Objectives: Make what you can sell and focus on buyers needs (not sellers)
Problems: customers complex, subject to variety of unique customer needs
Value Based Era Correct answer-Companies try to interact with customers on regular basis, and
maintain healthy, ongoing relationships
When referring to "exchange" marketers are focusing on what? Correct answer-The trading things
of value
When a T-shirt manufacturer states, "we sell it only in black because that way we can buy plenty of
black fabric ad run our plant efficiently, its statement reflects the views that were popular in which
era of the evolution of marketing Correct answer-Production- oriented era
When discussing the marketing planning process, STP stands for what? Correct answer-
Segmentation
Targeting
Positioning
(finding out your different groups you are targeting)
In BCG portfolio analysis, products in low-growth markets that have recieved heavy investments and
now have excess funds available to support other products are called what? Correct answer-Cash
Cows
What are the 4 parts of the BCG matrix? Correct answer-High Market Growth + High Relative
Market = Stars
High Market Growth + Low Relative Market = Question Marks
Low Market Growth + High Relative Market = Cash Cows
Low Market Growth + Low Relative Market = Dogs
BCG Matrix Best to Worst Opportunities Correct answer-1. Stars
2. Question Marks
3. Cash Cows
4. Dogs
Which of the following is NOT one of the four major growth strategies typicaly utilized? Correct
answer-Segment Development
Correct & Verified Answers
Marketing Correct answer-Activity, set of institutions and processes for creating, capturing,
communicating, delivering and exchanging offerings that have value for customers, clients, partners
at large.
Bartering is Marketing: T/F? Why? Correct answer-True! Because marketing is any 2 or more
parties exchanging of value
Old View of Marketing Correct answer-Marking a sale "telling and selling"
New View of Marketing Correct answer-Satisfying customer needs
Things that can be marketed: Correct answer--Goods
-Services
-People
-Behaviors
-Organizations
-Information
-Places
Marketing Process Correct answer-1. Understand needs/wants of marketplace/ customer
2. Design a customer driven marketing strategy
3. Construct an integrated marketing program to deliver superior value
4. Build profitable relationships and create customer delight
To succeed in marketing you need to be able to: Correct answer-Analyze needs
Predict wants
Estimate demand
Determine where
Estimate price
Decide promotion
Estimate competition
Provide service
4 P's are: Correct answer-Price
Product
Place
Promotion
Production Era Correct answer-"Can we make it?"
Assumed that customers are interested primarily in product availability at low prices. "A good
product will sell itself"
Sales Oriented Era Correct answer-Sell, sell, sell!
, Consumers aggressively persuaded to buy
Lack of concern for customer needs
Customers not returning
Marketing Oriented Era Correct answer-Company must determine the needs and wants
Marketing Objectives: Make what you can sell and focus on buyers needs (not sellers)
Problems: customers complex, subject to variety of unique customer needs
Value Based Era Correct answer-Companies try to interact with customers on regular basis, and
maintain healthy, ongoing relationships
When referring to "exchange" marketers are focusing on what? Correct answer-The trading things
of value
When a T-shirt manufacturer states, "we sell it only in black because that way we can buy plenty of
black fabric ad run our plant efficiently, its statement reflects the views that were popular in which
era of the evolution of marketing Correct answer-Production- oriented era
When discussing the marketing planning process, STP stands for what? Correct answer-
Segmentation
Targeting
Positioning
(finding out your different groups you are targeting)
In BCG portfolio analysis, products in low-growth markets that have recieved heavy investments and
now have excess funds available to support other products are called what? Correct answer-Cash
Cows
What are the 4 parts of the BCG matrix? Correct answer-High Market Growth + High Relative
Market = Stars
High Market Growth + Low Relative Market = Question Marks
Low Market Growth + High Relative Market = Cash Cows
Low Market Growth + Low Relative Market = Dogs
BCG Matrix Best to Worst Opportunities Correct answer-1. Stars
2. Question Marks
3. Cash Cows
4. Dogs
Which of the following is NOT one of the four major growth strategies typicaly utilized? Correct
answer-Segment Development
