MBA 650 Exam 1 questions well
answered already passed
- financial success often depends on marketing ability
- success marketing builds demand for products and services, which, in turn, creates jobs -
correct answer ✔✔the value of marketing
to be a marketer, you need to understand what marketing is, how it works, who does it, and
what is marketed - correct answer ✔✔the scope of marketing
is the activity, set of institutions, and processes for creating, communicating, delivering, and
exchanging offerings that have value for customers, clients, partners, and society at large -
correct answer ✔✔marketing
the art and science of choosing target markets and getting, keeping, and growing customers
through creating, delivering, and communicating superior customer value - correct answer
✔✔marketing management
What is marketed? (10 main types) - correct answer ✔✔goods, services, events, experiences,
persons, places, properties, organizations, information, ideas
____________ is someone who seeks a response—attention, a purchase, a vote, a donation—
from another party, called the _____________ - correct answer ✔✔marketer, prospect
the diet-seeking market - correct answer ✔✔need markets
the shoe market - correct answer ✔✔product markets
,the "millennium" youth market - correct answer ✔✔demographic markets
the Chinese market - correct answer ✔✔geographic markets
What are the four key customer markets? - correct answer ✔✔consumer, business, global,
nonprofit
the basic human requirements such as for air, food, water, clothing, and shelter - correct answer
✔✔needs
specific objects that might satisfy the need; shape society - correct answer ✔✔wants
wants for specific products backed by an ability to pay - correct answer ✔✔demands
the customer wants an inexpensive car - correct answer ✔✔stated needs
the customer wants a car whose operating cost, not initial price is low - correct answer ✔✔real
needs
the customer expects good service from the dealer - correct answer ✔✔unstated needs
the customer would like the dealer to include an onboard GPS system - correct answer
✔✔delight needs
the customer wants friends to see him or her as a savvy consumer - correct answer ✔✔secret
needs
, marketers identify distinct segments of buyers by identifying demographic, psychographic, and
behavioral differences between them - they then decide which segment(s) present the greatest
opportunities - correct answer ✔✔target markets
for each of these target markets, the firm develops a __________________ that it __________
in target buyers' minds as delivering some key benefit(s) - correct answer ✔✔market offering,
positions
a set of benefits that satisfy those needs - correct answer ✔✔value proposition
a combination of products, services, information, and experiences - correct answer ✔✔offerings
an offering from a known source - correct answer ✔✔brands
deliver and receive messages from target buyers and include newspapers, magazines, radio,
television, mail, telephone, smart phone, billboards, posters, fliers, CDs, audiotapes, and the
Internet - correct answer ✔✔communication channels
help display, sell, or deliver the physical product or service(s) to the buyer or user - correct
answer ✔✔distribution channels
to carry out transactions with potential buyers, the marketer also uses these marketing
channels that include warehouses, transportation companies, banks, and insurance companies -
correct answer ✔✔service channels
allow marketers to show their ad or brand for a fee (TV, magazine and display ads, paid search,
and sponsorships) - correct answer ✔✔paid media
are communication channels marketers actually own (a company or brand brochure, web site,
blog, facebook page, or twitter account) - correct answer ✔✔owned media
answered already passed
- financial success often depends on marketing ability
- success marketing builds demand for products and services, which, in turn, creates jobs -
correct answer ✔✔the value of marketing
to be a marketer, you need to understand what marketing is, how it works, who does it, and
what is marketed - correct answer ✔✔the scope of marketing
is the activity, set of institutions, and processes for creating, communicating, delivering, and
exchanging offerings that have value for customers, clients, partners, and society at large -
correct answer ✔✔marketing
the art and science of choosing target markets and getting, keeping, and growing customers
through creating, delivering, and communicating superior customer value - correct answer
✔✔marketing management
What is marketed? (10 main types) - correct answer ✔✔goods, services, events, experiences,
persons, places, properties, organizations, information, ideas
____________ is someone who seeks a response—attention, a purchase, a vote, a donation—
from another party, called the _____________ - correct answer ✔✔marketer, prospect
the diet-seeking market - correct answer ✔✔need markets
the shoe market - correct answer ✔✔product markets
,the "millennium" youth market - correct answer ✔✔demographic markets
the Chinese market - correct answer ✔✔geographic markets
What are the four key customer markets? - correct answer ✔✔consumer, business, global,
nonprofit
the basic human requirements such as for air, food, water, clothing, and shelter - correct answer
✔✔needs
specific objects that might satisfy the need; shape society - correct answer ✔✔wants
wants for specific products backed by an ability to pay - correct answer ✔✔demands
the customer wants an inexpensive car - correct answer ✔✔stated needs
the customer wants a car whose operating cost, not initial price is low - correct answer ✔✔real
needs
the customer expects good service from the dealer - correct answer ✔✔unstated needs
the customer would like the dealer to include an onboard GPS system - correct answer
✔✔delight needs
the customer wants friends to see him or her as a savvy consumer - correct answer ✔✔secret
needs
, marketers identify distinct segments of buyers by identifying demographic, psychographic, and
behavioral differences between them - they then decide which segment(s) present the greatest
opportunities - correct answer ✔✔target markets
for each of these target markets, the firm develops a __________________ that it __________
in target buyers' minds as delivering some key benefit(s) - correct answer ✔✔market offering,
positions
a set of benefits that satisfy those needs - correct answer ✔✔value proposition
a combination of products, services, information, and experiences - correct answer ✔✔offerings
an offering from a known source - correct answer ✔✔brands
deliver and receive messages from target buyers and include newspapers, magazines, radio,
television, mail, telephone, smart phone, billboards, posters, fliers, CDs, audiotapes, and the
Internet - correct answer ✔✔communication channels
help display, sell, or deliver the physical product or service(s) to the buyer or user - correct
answer ✔✔distribution channels
to carry out transactions with potential buyers, the marketer also uses these marketing
channels that include warehouses, transportation companies, banks, and insurance companies -
correct answer ✔✔service channels
allow marketers to show their ad or brand for a fee (TV, magazine and display ads, paid search,
and sponsorships) - correct answer ✔✔paid media
are communication channels marketers actually own (a company or brand brochure, web site,
blog, facebook page, or twitter account) - correct answer ✔✔owned media
