1 | P a g e | © copyright 2024/2025 | Grade A+
NUSC 4272 Exam 1 Questions and
Answers (100% Pass)
Marketing overview
Consists of individual & organizational activities that facilitate and
expedite satisfying exchange relationships in a dynamic environment
through the creation, distribution, promotion, and pricing of goods,
services, and ideas
- American Marketing Association
- Efficient and fair system which directs an economy's flow of goods
from producers to consumers and accomplishes the objectives of
society
- Need to satisfy both the customer's needs and the company's
objectives
- 40 - 60% of consumer $'s goes toward marketing activities
2 levels of marketing
Macro-Marketing and Micro-Marketing
- Macro looks at the economy's entire marketing system
- Micro looks at individual company
Master01 | October, 2024/2025 | Latest update
, 1 | P a g e | © copyright 2024/2025 | Grade A+
Macro-marketing
Objective to create goods & services & make them available when &
where they are needed
- Economy = Producers + Consumers
- Producers: concerned with their income & production
- Consumers: concerned with what you can buy with your $
Free market economy
Market driven, "Capitalism", Price is a measure of value and fluctuates
so both producers & consumers are happy
- Consumers decide what to purchase & therefore affect production
- What is someone willing to pay?
Other economies?
- Russia has mixed economy
- China has a socialist market economy
Law of Diminishing Demand
Master01 | October, 2024/2025 | Latest update
, 1 | P a g e | © copyright 2024/2025 | Grade A+
Consumer
- if the price of a commodity is raised; a smaller quantity will be
demanded
- if the price of a commodity is lowered; a greater quantity will be
demanded
Late 1800s/Industrial Revolution
- Beginning of mass production & marketing
- Products made more economically
- Focus of distribution
1920s
Advertising & Sales focus- differentiating products
1950s
- Marketing dept.
- Consumer research
- Advise mgmt of how to design, price, distribute & promote
Marketing today
Master01 | October, 2024/2025 | Latest update
, 1 | P a g e | © copyright 2024/2025 | Grade A+
- Customer satisfaction: customer's positive, neutral, or negative
feelings about the value received from a product
- Customer loyalty: refers to the frequency with which a customer
consistently purchases a specific brand
Ethics of marketing
- A Code of Ethics: Rules for standards of professional behavior, based
on relationships within businesses and professional organizations
- Standards of Practice: Measure of what is expected to happen
Ethical Conduct
- Priority of an organization
- Through proper planning, organizing, staffing, leading, and controlling
ensure that ethical conduct is followed
- Academy of Nutrition and Dietetics Code of Ethics (AND Code of
Ethics)
- Sponsorship (Advertising and Sponsorship)
Different marketing concepts
Master01 | October, 2024/2025 | Latest update
NUSC 4272 Exam 1 Questions and
Answers (100% Pass)
Marketing overview
Consists of individual & organizational activities that facilitate and
expedite satisfying exchange relationships in a dynamic environment
through the creation, distribution, promotion, and pricing of goods,
services, and ideas
- American Marketing Association
- Efficient and fair system which directs an economy's flow of goods
from producers to consumers and accomplishes the objectives of
society
- Need to satisfy both the customer's needs and the company's
objectives
- 40 - 60% of consumer $'s goes toward marketing activities
2 levels of marketing
Macro-Marketing and Micro-Marketing
- Macro looks at the economy's entire marketing system
- Micro looks at individual company
Master01 | October, 2024/2025 | Latest update
, 1 | P a g e | © copyright 2024/2025 | Grade A+
Macro-marketing
Objective to create goods & services & make them available when &
where they are needed
- Economy = Producers + Consumers
- Producers: concerned with their income & production
- Consumers: concerned with what you can buy with your $
Free market economy
Market driven, "Capitalism", Price is a measure of value and fluctuates
so both producers & consumers are happy
- Consumers decide what to purchase & therefore affect production
- What is someone willing to pay?
Other economies?
- Russia has mixed economy
- China has a socialist market economy
Law of Diminishing Demand
Master01 | October, 2024/2025 | Latest update
, 1 | P a g e | © copyright 2024/2025 | Grade A+
Consumer
- if the price of a commodity is raised; a smaller quantity will be
demanded
- if the price of a commodity is lowered; a greater quantity will be
demanded
Late 1800s/Industrial Revolution
- Beginning of mass production & marketing
- Products made more economically
- Focus of distribution
1920s
Advertising & Sales focus- differentiating products
1950s
- Marketing dept.
- Consumer research
- Advise mgmt of how to design, price, distribute & promote
Marketing today
Master01 | October, 2024/2025 | Latest update
, 1 | P a g e | © copyright 2024/2025 | Grade A+
- Customer satisfaction: customer's positive, neutral, or negative
feelings about the value received from a product
- Customer loyalty: refers to the frequency with which a customer
consistently purchases a specific brand
Ethics of marketing
- A Code of Ethics: Rules for standards of professional behavior, based
on relationships within businesses and professional organizations
- Standards of Practice: Measure of what is expected to happen
Ethical Conduct
- Priority of an organization
- Through proper planning, organizing, staffing, leading, and controlling
ensure that ethical conduct is followed
- Academy of Nutrition and Dietetics Code of Ethics (AND Code of
Ethics)
- Sponsorship (Advertising and Sponsorship)
Different marketing concepts
Master01 | October, 2024/2025 | Latest update
