MCS 1000 EXAM QUESTIONS | 2026 | GUARANTEED
PASS
What is marketing - answers -a set of business practices designed to plan for and
present an organization's products or services in ways that build effective customer
relationships
What are needs - answers -basic necessities
What are wants - answers -things we would like to fulfill our needs
What are target markets - answers -customer segment to whom the firm is interested in
selling its product and services too
What is a marketing exchange - answers -an exchange between any 2 parties, can be
goods/services or an exchange of information
Marketing mix (4p's) - answers -product, price, place, promotion
What is product - answers -it creates value, features of the product
What is price - answers -it transacts value, everything the buyer gives up to get the
product
What is place - answers -it delivers value, all activities to get the product to the right
person, marketing channels
What is promotion - answers -it communicates value, used to inform, persuade, and
remind potential buyers
What kinds of stakeholders does marketing impact - answers -both profit and not for
profit entities, developing economies, entire industries
What are the 4 orientations of marketing - answers -product, sales, market, value
based
What is product orientation - answers -focus on developing and distributing innovative
products with little concern about whether the products best satisfy customer needs
What is sales orientation - answers -view marketing as a selling function where
companies try to sell as many of their products possible, rather than focus on making
products customers really want
,What is market orientation - answers -start out by focusing on what consumers want
and need before they design, make, or attempt to sell their products and services
What is value based orientation - answers -firms focus on the triple bottom line; people,
price and planet
How do firms become more value driven - answers --sharing info
-balancing benefits and costs
-building customer relationships
-connecting with customers via social media
How do you balance benefits with costs - answers --understand key benefits
-focus on key benefits
-eliminate cost of less strategic benefits
How do you build customer relationships - answers --taking a long term view of
customer relationships
-use data to assist in maintaining the relationship
How does marketing expand firms global prescence - answers --goods are available to
consumers from many countries
-can target segment by segment, or region by region`
Marketing and channel members - answers -all members in the chain must focus on
creating value for their customer and the end user consumer
What does a marketing strategy identifiy - answers --a firms target market
-a related marketing mix (4ps)
-the basis upon which the firm plans to build a sustainable advantage
What is a sustainable competitive advantage - answers -- strong brand
-innovative capabilities
-extensive distribution network
-loyal customers
What are strategies for developing customer value - answers -customer excellence,
operational excellence, locational excellence, and product excellence
What is customer excellence - answers -retain loyal customers and provide outstanding
customer service
What is operational excellence - answers -efficient operations and excellent supply
chain management
What is product excellence - answers -high perceived value and effective branding and
positioning
, What is locational excellence - answers -having a good physical location and internet
presence
What is step 1 of developing a marketing plan - answers -define the business mission
and objectives
- mission statement
What is step 2 of developing a marketing plan - answers -conduct a swot analysis
What is step 3 of developing a marketing plan - answers -identify and evaluate
opportunities by using stp
- segmenting, targeting, positioning
What is step 4 of developing a marketing plan - answers -implement marketing mix
(4ps) and allocate resources
What is step 5 of developing a marketing plan - answers -evaluate performance by
using marketing metrics
- who is accountable for performance
What marketing metrics can be used - answers --financial performance metrics
-social responsibility metrics
What is a portfolio analysis - answers -you evaluate market share and market growth
rate by high low standards (2 by 2 matrix)
What is market penetration - answers -current market, current product
What is market development - answers -new markets, current products
What is product development - answers -current market, new product
What is diversification - answers -new market, new product
What is in a marketing microenvironmental analysis - answers -company, corporate
partners, competition
What is in a marketing macroenvironmental analysis - answers -economic,
legal/political, culture, demographics, social/natural, technology
What is a core competency - answers -a set of knowledge and skills that make the
organization superior to competitors and create value for customers
What is apart of competition analysis - answers --identify and analyze direct and
indirect competitors
PASS
What is marketing - answers -a set of business practices designed to plan for and
present an organization's products or services in ways that build effective customer
relationships
What are needs - answers -basic necessities
What are wants - answers -things we would like to fulfill our needs
What are target markets - answers -customer segment to whom the firm is interested in
selling its product and services too
What is a marketing exchange - answers -an exchange between any 2 parties, can be
goods/services or an exchange of information
Marketing mix (4p's) - answers -product, price, place, promotion
What is product - answers -it creates value, features of the product
What is price - answers -it transacts value, everything the buyer gives up to get the
product
What is place - answers -it delivers value, all activities to get the product to the right
person, marketing channels
What is promotion - answers -it communicates value, used to inform, persuade, and
remind potential buyers
What kinds of stakeholders does marketing impact - answers -both profit and not for
profit entities, developing economies, entire industries
What are the 4 orientations of marketing - answers -product, sales, market, value
based
What is product orientation - answers -focus on developing and distributing innovative
products with little concern about whether the products best satisfy customer needs
What is sales orientation - answers -view marketing as a selling function where
companies try to sell as many of their products possible, rather than focus on making
products customers really want
,What is market orientation - answers -start out by focusing on what consumers want
and need before they design, make, or attempt to sell their products and services
What is value based orientation - answers -firms focus on the triple bottom line; people,
price and planet
How do firms become more value driven - answers --sharing info
-balancing benefits and costs
-building customer relationships
-connecting with customers via social media
How do you balance benefits with costs - answers --understand key benefits
-focus on key benefits
-eliminate cost of less strategic benefits
How do you build customer relationships - answers --taking a long term view of
customer relationships
-use data to assist in maintaining the relationship
How does marketing expand firms global prescence - answers --goods are available to
consumers from many countries
-can target segment by segment, or region by region`
Marketing and channel members - answers -all members in the chain must focus on
creating value for their customer and the end user consumer
What does a marketing strategy identifiy - answers --a firms target market
-a related marketing mix (4ps)
-the basis upon which the firm plans to build a sustainable advantage
What is a sustainable competitive advantage - answers -- strong brand
-innovative capabilities
-extensive distribution network
-loyal customers
What are strategies for developing customer value - answers -customer excellence,
operational excellence, locational excellence, and product excellence
What is customer excellence - answers -retain loyal customers and provide outstanding
customer service
What is operational excellence - answers -efficient operations and excellent supply
chain management
What is product excellence - answers -high perceived value and effective branding and
positioning
, What is locational excellence - answers -having a good physical location and internet
presence
What is step 1 of developing a marketing plan - answers -define the business mission
and objectives
- mission statement
What is step 2 of developing a marketing plan - answers -conduct a swot analysis
What is step 3 of developing a marketing plan - answers -identify and evaluate
opportunities by using stp
- segmenting, targeting, positioning
What is step 4 of developing a marketing plan - answers -implement marketing mix
(4ps) and allocate resources
What is step 5 of developing a marketing plan - answers -evaluate performance by
using marketing metrics
- who is accountable for performance
What marketing metrics can be used - answers --financial performance metrics
-social responsibility metrics
What is a portfolio analysis - answers -you evaluate market share and market growth
rate by high low standards (2 by 2 matrix)
What is market penetration - answers -current market, current product
What is market development - answers -new markets, current products
What is product development - answers -current market, new product
What is diversification - answers -new market, new product
What is in a marketing microenvironmental analysis - answers -company, corporate
partners, competition
What is in a marketing macroenvironmental analysis - answers -economic,
legal/political, culture, demographics, social/natural, technology
What is a core competency - answers -a set of knowledge and skills that make the
organization superior to competitors and create value for customers
What is apart of competition analysis - answers --identify and analyze direct and
indirect competitors
