MKT 3000 Exam queries and
answered 100%
What is marketing? - ANS✅✅the process of planning and executing the conception, pricing,
promotion, and distribution of ideas, goods, and services in exchanges that satisfy individual and
organizational objectives.
What is the scope of marketing/to what situations can marketing be applied? - ANS✅✅To make $$
What is marketing first task? - ANS✅✅Discover customer needs
What is marketing second task? - ANS✅✅Satisfying customer needs
What is the marketing mix/What are the four P's? - ANS✅✅Product, Prices, Promotion, Place
What are some benefit categories? - ANS✅✅Functional, Social, Personal, Experiential
What is a functional benefit and give an example of a product that has functional benefit? -
ANS✅✅can get something done with it, is a useful tool, ex: hammer, gas, car, toothbrush, house.
For Marketing 3000 the functional benefit is the course credit you will receive, and the knowledge
about marketing you will obtain
What is a social benefit and give an example of a product that has social benefit? -
ANS✅✅connects you to others or helps you be more acceptable in others eyes, ex: cell phone,
facebook, bars, twitter, greeting cards, skype, colone, in Marketing 3000 the social benefit is that
you could meet new friends in the class
What is an experiential benefit and what is an example of a product that had experiential benefits? -
ANS✅✅it's about being there and in the moment, ex: football game, concert, golden girls,
mascots, souveneirs, food, traveling, amusement parks, movies
What is a personal benefit and what is an example of a product that has personal benefits? -
ANS✅✅helps with self-esteem, feel better as a person, ex: exercise, mirror, make up, showers,
massages, shopping, in marketing 3000 the personal benefit is you feel good about learning or doing
well
, What are some examples of types of costs? - ANS✅✅Monetary, Temporal, Psychologicaal,
Behavioral
What is a monetary cost? - ANS✅✅what you pay, example: tuition
What is a temporal cost? - ANS✅✅the time spent where you could be doing something else, ex:
time spent in class, studying
What is a psychological cost? - ANS✅✅the psychological toll it has on you as a person, ex: stress
from class, studying
What is a behavioral cost? - ANS✅✅the toll it has on you physically, ex: energy walking to class,
getting sick from class products that have behavioral costs are cigarettes, alcohol drugs
What is the immediate environment factors of the marketing framework? - ANS✅✅1. the
company
2. the competition
3. the corporate partners
What are the macroenvironmental factors of the marketing framework? - ANS✅✅Culture
Political/Legal
Economic
Demographics
Social Trends
Technology
What are the three phases of a strategic marketing plan - ANS✅✅1.Mission
2. Environmental Analysis (SWOT)
3. Segmentation, Targeting, Positioning
What is the first step of a strategic marketing plan? - ANS✅✅Defining a mission or a vision
answered 100%
What is marketing? - ANS✅✅the process of planning and executing the conception, pricing,
promotion, and distribution of ideas, goods, and services in exchanges that satisfy individual and
organizational objectives.
What is the scope of marketing/to what situations can marketing be applied? - ANS✅✅To make $$
What is marketing first task? - ANS✅✅Discover customer needs
What is marketing second task? - ANS✅✅Satisfying customer needs
What is the marketing mix/What are the four P's? - ANS✅✅Product, Prices, Promotion, Place
What are some benefit categories? - ANS✅✅Functional, Social, Personal, Experiential
What is a functional benefit and give an example of a product that has functional benefit? -
ANS✅✅can get something done with it, is a useful tool, ex: hammer, gas, car, toothbrush, house.
For Marketing 3000 the functional benefit is the course credit you will receive, and the knowledge
about marketing you will obtain
What is a social benefit and give an example of a product that has social benefit? -
ANS✅✅connects you to others or helps you be more acceptable in others eyes, ex: cell phone,
facebook, bars, twitter, greeting cards, skype, colone, in Marketing 3000 the social benefit is that
you could meet new friends in the class
What is an experiential benefit and what is an example of a product that had experiential benefits? -
ANS✅✅it's about being there and in the moment, ex: football game, concert, golden girls,
mascots, souveneirs, food, traveling, amusement parks, movies
What is a personal benefit and what is an example of a product that has personal benefits? -
ANS✅✅helps with self-esteem, feel better as a person, ex: exercise, mirror, make up, showers,
massages, shopping, in marketing 3000 the personal benefit is you feel good about learning or doing
well
, What are some examples of types of costs? - ANS✅✅Monetary, Temporal, Psychologicaal,
Behavioral
What is a monetary cost? - ANS✅✅what you pay, example: tuition
What is a temporal cost? - ANS✅✅the time spent where you could be doing something else, ex:
time spent in class, studying
What is a psychological cost? - ANS✅✅the psychological toll it has on you as a person, ex: stress
from class, studying
What is a behavioral cost? - ANS✅✅the toll it has on you physically, ex: energy walking to class,
getting sick from class products that have behavioral costs are cigarettes, alcohol drugs
What is the immediate environment factors of the marketing framework? - ANS✅✅1. the
company
2. the competition
3. the corporate partners
What are the macroenvironmental factors of the marketing framework? - ANS✅✅Culture
Political/Legal
Economic
Demographics
Social Trends
Technology
What are the three phases of a strategic marketing plan - ANS✅✅1.Mission
2. Environmental Analysis (SWOT)
3. Segmentation, Targeting, Positioning
What is the first step of a strategic marketing plan? - ANS✅✅Defining a mission or a vision
