UCF MAR 3023 EXAM 1 STUDY GUIDE
QUESTIONS WITH 100% CORRECT
ANSWERS | LATEST VERSION 2025/2026.
Which of the following are associated with marketing, as defined by the American Marketing
Association? (Choose every correct answer.)
Multiple select question.
a.) Organizations that develop industry partnerships for international outsourcing
b.) Institutions that facilitate the exchange of offerings that have value for customers
c.) Institutions that implement technologies for increased production efficiency
d.) Activities that communicate offerings that have value for society at large
e.) Processes used to create value for clients - ANS b, d, e
When a toothpaste manufacturer divides the marketplace into smaller targets based on
benefits sought by the consumer, this is an example of market ______.
Multiple choice question.
a.) satisfaction
b.) segmentation
c.) manufacturing
d.) needs - ANS b.) segmentation
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,A core aspect of marketing involves a(n) _______ which is a transaction in which things of value
are traded by buyers and sellers. - ANS exchange
Which of the following are elements of the marketing mix? (Choose every correct answer.)
Multiple select question.
a.) Portfolio
b.) Product
c.) Price
d.) Purchase - ANS b, c, d
Reason:
The 4 Ps include product, price, place, and promotion.
A company's Blank______ create(s) value by satisfying customer needs.
a.) production efficiency
b.) product promotions
c.) brand names
d.) products, services, or ideas - ANS d.) products, services, or ideas
Which of the following characterizes an exchange?
a.) A buyer and seller work together to neither increase nor decrease net satisfaction.
b.) A seller determines the best way to maximize profit while minimizing buyer value.
c.) A buyer and seller trade things of value, leaving each better off than before.
d.) A buyer maneuvers a seller into providing maximum value for the lowest price. - ANS c.) A
buyer and seller trade things of value, leaving each better off than before.
Product, the first of the four Ps, is responsible for ______.
a.) establishing prices
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, b.) communicating promotions
c.) satisfying customer needs
d.) delivering ambiance - ANS c.) satisfying customer needs
Which of the following are considered ideas? (Choose every correct answer.)
a.) A service
b.) A philosophy
c.) A non-profit organization
d.) An opinion - ANS b, d
Which of the following describes the fundamental purpose of marketing?
a.) To achieve market dominance by selling as many products and services as possible
b.) To develop highly original and innovative products
Reason:
c.) To advertise and entertain customers
d.) To create value and satisfy consumer needs through a variety of offerings - ANS d.) To
create value and satisfy consumer needs through a variety of offerings
Which of the following are components of price? (Check all that apply.)
a.) Money
b.) Ethical climate
c.) Management style
d.) Time
e.) Energy - ANS a, d, e
True or False: In the marketing mix, place attempts to deliver value by making the product or
service available when and where the consumer needs or wants it. - ANS True
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QUESTIONS WITH 100% CORRECT
ANSWERS | LATEST VERSION 2025/2026.
Which of the following are associated with marketing, as defined by the American Marketing
Association? (Choose every correct answer.)
Multiple select question.
a.) Organizations that develop industry partnerships for international outsourcing
b.) Institutions that facilitate the exchange of offerings that have value for customers
c.) Institutions that implement technologies for increased production efficiency
d.) Activities that communicate offerings that have value for society at large
e.) Processes used to create value for clients - ANS b, d, e
When a toothpaste manufacturer divides the marketplace into smaller targets based on
benefits sought by the consumer, this is an example of market ______.
Multiple choice question.
a.) satisfaction
b.) segmentation
c.) manufacturing
d.) needs - ANS b.) segmentation
1 | Page @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
,A core aspect of marketing involves a(n) _______ which is a transaction in which things of value
are traded by buyers and sellers. - ANS exchange
Which of the following are elements of the marketing mix? (Choose every correct answer.)
Multiple select question.
a.) Portfolio
b.) Product
c.) Price
d.) Purchase - ANS b, c, d
Reason:
The 4 Ps include product, price, place, and promotion.
A company's Blank______ create(s) value by satisfying customer needs.
a.) production efficiency
b.) product promotions
c.) brand names
d.) products, services, or ideas - ANS d.) products, services, or ideas
Which of the following characterizes an exchange?
a.) A buyer and seller work together to neither increase nor decrease net satisfaction.
b.) A seller determines the best way to maximize profit while minimizing buyer value.
c.) A buyer and seller trade things of value, leaving each better off than before.
d.) A buyer maneuvers a seller into providing maximum value for the lowest price. - ANS c.) A
buyer and seller trade things of value, leaving each better off than before.
Product, the first of the four Ps, is responsible for ______.
a.) establishing prices
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, b.) communicating promotions
c.) satisfying customer needs
d.) delivering ambiance - ANS c.) satisfying customer needs
Which of the following are considered ideas? (Choose every correct answer.)
a.) A service
b.) A philosophy
c.) A non-profit organization
d.) An opinion - ANS b, d
Which of the following describes the fundamental purpose of marketing?
a.) To achieve market dominance by selling as many products and services as possible
b.) To develop highly original and innovative products
Reason:
c.) To advertise and entertain customers
d.) To create value and satisfy consumer needs through a variety of offerings - ANS d.) To
create value and satisfy consumer needs through a variety of offerings
Which of the following are components of price? (Check all that apply.)
a.) Money
b.) Ethical climate
c.) Management style
d.) Time
e.) Energy - ANS a, d, e
True or False: In the marketing mix, place attempts to deliver value by making the product or
service available when and where the consumer needs or wants it. - ANS True
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