MCS 1000 Final Exam questions well
answered graded A+ updated
activity of creating, communicating, delivering and exchanging offerings that benefit the
organization, its stakeholders and society at large - correct answer ✔✔Marketing
requirements for marketing to occur - correct answer ✔✔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
people with the desire and ability to buy specific product - correct answer ✔✔Market
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 - correct answer
✔✔Social Marketing
all people who use the goods and services purchased for a household - correct answer
✔✔Ultimate consumers
maufacturers, wholesalers, retailers, and government agencies that buy goods and services for
their own use - correct answer ✔✔organizational buyers
one or specific groups of potential consumers towards which an organization directs its
marketing program - correct answer ✔✔target market
,4 P's of Marketing - correct answer ✔✔1. Product
2. Price
3. Promotion
4. Place
marketing actions of 4 Ps, that he or she can take to create, communicate and deliver value -
correct answer ✔✔Marketing mix
uncontrollable factors involving social , economic, technological, competitive and regulatory
forces - correct answer ✔✔environmental forces
a plan that integrates the marketing mix to provide a good or service, or idea to prospective
buyers - correct answer ✔✔marketing program
-central notion was products would sell themselves - correct answer ✔✔Production Era
-more goods made than consumed
-competition grew
-more sales people hired - correct answer ✔✔Sales Era
idea that an organization should strive to satisfy the needs of consumers, while also trying to
achieve goals - correct answer ✔✔Marketing concept (era as well)
1. continuously collecting information about customers
2. sharing this information throughout the organization
3. using information to create value - correct answer ✔✔Marketing orientation (era as well)
,unique combination of benefits received by the customer that include quality, price,
convenience, on time delivery and both before-sale and after sale service - correct answer
✔✔customer value
match between customer expectations of the product and the product's actual performance -
correct answer ✔✔customer satisfaction
process of devleoping long term relationships - correct answer ✔✔customer relationship
management
profit generated by the customer's purchase of an organziations product or service over
customers life time - correct answer ✔✔customer lifetime value
a web-centric personailized approach to managing long term customer relationships
electronically - correct answer ✔✔eCRM
involves two way buyer seller electronic communication in which the buyer can control the kind
and amount of information received from the seller - correct answer ✔✔interactive marketing
managing the customers interactions with the organization at all levels - correct answer
✔✔customer experience management
consumer generated online marketing efforts to promote brands and companies for the ones
they like - correct answer ✔✔social media marketing
the use of social media to enable organizations to engage customers in collaborative
conversations for mutually beneficial value - correct answer ✔✔social CRM
the moral principles and values that govern the actions and decisions of individual or group -
correct answer ✔✔ethics
, individuals and organizations are part of a larger society and are accountable to that society for
their actions - correct answer ✔✔social responsibility
view that an organization should discover and satisfy the needs of its consumers in a way that
also provides for society's well being - correct answer ✔✔societal marketing concept
aggregate flow of a nation's goods and services to benefit soceity - correct answer
✔✔macromarketing
how and individual organization directs its marketing activities and allocates its resources to
benefit its customers - correct answer ✔✔micromarketing
actions that a person takes in purchasing and using products and services, including the mental
and social processes that precede and follow these actions - correct answer ✔✔consumer
behaviour
stages a buyer passes through in making choices about which products and services to buy -
correct answer ✔✔purchase decision process
1. problem recognition
2. information search
3. alternative evaluation
4. purchase decision
5. post-purchase behaviour - correct answer ✔✔5 stages of purchase decision process
factors that represent both the objective attributes of a brand and the subjective ones - correct
answer ✔✔evaluative criteria
answered graded A+ updated
activity of creating, communicating, delivering and exchanging offerings that benefit the
organization, its stakeholders and society at large - correct answer ✔✔Marketing
requirements for marketing to occur - correct answer ✔✔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
people with the desire and ability to buy specific product - correct answer ✔✔Market
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 - correct answer
✔✔Social Marketing
all people who use the goods and services purchased for a household - correct answer
✔✔Ultimate consumers
maufacturers, wholesalers, retailers, and government agencies that buy goods and services for
their own use - correct answer ✔✔organizational buyers
one or specific groups of potential consumers towards which an organization directs its
marketing program - correct answer ✔✔target market
,4 P's of Marketing - correct answer ✔✔1. Product
2. Price
3. Promotion
4. Place
marketing actions of 4 Ps, that he or she can take to create, communicate and deliver value -
correct answer ✔✔Marketing mix
uncontrollable factors involving social , economic, technological, competitive and regulatory
forces - correct answer ✔✔environmental forces
a plan that integrates the marketing mix to provide a good or service, or idea to prospective
buyers - correct answer ✔✔marketing program
-central notion was products would sell themselves - correct answer ✔✔Production Era
-more goods made than consumed
-competition grew
-more sales people hired - correct answer ✔✔Sales Era
idea that an organization should strive to satisfy the needs of consumers, while also trying to
achieve goals - correct answer ✔✔Marketing concept (era as well)
1. continuously collecting information about customers
2. sharing this information throughout the organization
3. using information to create value - correct answer ✔✔Marketing orientation (era as well)
,unique combination of benefits received by the customer that include quality, price,
convenience, on time delivery and both before-sale and after sale service - correct answer
✔✔customer value
match between customer expectations of the product and the product's actual performance -
correct answer ✔✔customer satisfaction
process of devleoping long term relationships - correct answer ✔✔customer relationship
management
profit generated by the customer's purchase of an organziations product or service over
customers life time - correct answer ✔✔customer lifetime value
a web-centric personailized approach to managing long term customer relationships
electronically - correct answer ✔✔eCRM
involves two way buyer seller electronic communication in which the buyer can control the kind
and amount of information received from the seller - correct answer ✔✔interactive marketing
managing the customers interactions with the organization at all levels - correct answer
✔✔customer experience management
consumer generated online marketing efforts to promote brands and companies for the ones
they like - correct answer ✔✔social media marketing
the use of social media to enable organizations to engage customers in collaborative
conversations for mutually beneficial value - correct answer ✔✔social CRM
the moral principles and values that govern the actions and decisions of individual or group -
correct answer ✔✔ethics
, individuals and organizations are part of a larger society and are accountable to that society for
their actions - correct answer ✔✔social responsibility
view that an organization should discover and satisfy the needs of its consumers in a way that
also provides for society's well being - correct answer ✔✔societal marketing concept
aggregate flow of a nation's goods and services to benefit soceity - correct answer
✔✔macromarketing
how and individual organization directs its marketing activities and allocates its resources to
benefit its customers - correct answer ✔✔micromarketing
actions that a person takes in purchasing and using products and services, including the mental
and social processes that precede and follow these actions - correct answer ✔✔consumer
behaviour
stages a buyer passes through in making choices about which products and services to buy -
correct answer ✔✔purchase decision process
1. problem recognition
2. information search
3. alternative evaluation
4. purchase decision
5. post-purchase behaviour - correct answer ✔✔5 stages of purchase decision process
factors that represent both the objective attributes of a brand and the subjective ones - correct
answer ✔✔evaluative criteria
