MKTG 305 Exam queries and
answers graded 100%
Marketing - ANS✅✅definition, descriptions, objectives and purpose:
The activity for creating, communicating, delivering, and exchanging offerings that benefit the
organization, its stakeholders, and society at large.
Exchange - ANS✅✅the trade of things of value between buyer and seller so that each is better off
after the trade.
Relationship Marketing - ANS✅✅links the organization to its individual customers, employees,
suppliers, and other partners for their mutual long-term benefits.
5 Major Environmental forces - ANS✅✅social, technological, economic, competitive, and
regulatory.
Market - ANS✅✅people with the desire and ability to buy a specific offering
Target Market - ANS✅✅One or more specific groups of potential consumers toward which an
organization directs its marketing program is referred
Marketing Mix/4p's - ANS✅✅product, price, place, promotion
Market share - ANS✅✅The ratio of sales revenue of the firm to the total sales revenue of all firms
in the industry, including the firm itself
Mission statement - ANS✅✅a declaration of the organization's functions in society, often
identifying its customers, markets, products, and technologies.
SWOT analysis - ANS✅✅Strengths, Weaknesses, Opportunities and Threats
Marketing strategies - ANS✅✅market penetration, product development, market development,
diversification
answers graded 100%
Marketing - ANS✅✅definition, descriptions, objectives and purpose:
The activity for creating, communicating, delivering, and exchanging offerings that benefit the
organization, its stakeholders, and society at large.
Exchange - ANS✅✅the trade of things of value between buyer and seller so that each is better off
after the trade.
Relationship Marketing - ANS✅✅links the organization to its individual customers, employees,
suppliers, and other partners for their mutual long-term benefits.
5 Major Environmental forces - ANS✅✅social, technological, economic, competitive, and
regulatory.
Market - ANS✅✅people with the desire and ability to buy a specific offering
Target Market - ANS✅✅One or more specific groups of potential consumers toward which an
organization directs its marketing program is referred
Marketing Mix/4p's - ANS✅✅product, price, place, promotion
Market share - ANS✅✅The ratio of sales revenue of the firm to the total sales revenue of all firms
in the industry, including the firm itself
Mission statement - ANS✅✅a declaration of the organization's functions in society, often
identifying its customers, markets, products, and technologies.
SWOT analysis - ANS✅✅Strengths, Weaknesses, Opportunities and Threats
Marketing strategies - ANS✅✅market penetration, product development, market development,
diversification
