MARKETING 3310 (AUBURN) EXAM 1
QUESTIONS AND ANSWERS GRADED A+
2026
Production - ANS actually making goods or performing services
customer satisfaction - ANS a firm fulfills a customers needs, desires, and expectations
innovation - ANS the development and spread of new ideas, goods, and services
Marketing ** - ANS is the performance of activities that seek to accomplish an organizations
objectives by anticipating customer or client needs and directing a flow of need-satisfying goods
and services from producer to customer or client
pure subsistence economy - ANS when each family unit produces everything it consumes
Macro-Marketing - ANS social process that directs an economy's flow of goods and services
from producers to consumers in a way that effectively matches supply and demand and
accomplishes the objective of society
(emphasis on whole system)
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
1
, economies of scale - ANS produce more cost goes down
universal functions of marketing - ANS buying, selling, transporting, storing, standardization
and grading, financing , risk taking, and market information.
buying function - ANS looking for and evaluating goods and services
selling function - ANS promoting the product
transporting function - ANS movement of goods from one place to another
storing function - ANS holding goods until customers need them
standardization and grading - ANS sorting products according to size and quality
financing - ANS necessary cash and credit to produce, transport, store, promote, sell and buy
products
risk taking - ANS beating the uncertainties that are part of marketing process
market info function - ANS collection, analysis, and distribution of all info needed to plan,
carry out, and control marketing activities anywhere
intermediary - ANS someone who specializes in trade rather than production
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
2
QUESTIONS AND ANSWERS GRADED A+
2026
Production - ANS actually making goods or performing services
customer satisfaction - ANS a firm fulfills a customers needs, desires, and expectations
innovation - ANS the development and spread of new ideas, goods, and services
Marketing ** - ANS is the performance of activities that seek to accomplish an organizations
objectives by anticipating customer or client needs and directing a flow of need-satisfying goods
and services from producer to customer or client
pure subsistence economy - ANS when each family unit produces everything it consumes
Macro-Marketing - ANS social process that directs an economy's flow of goods and services
from producers to consumers in a way that effectively matches supply and demand and
accomplishes the objective of society
(emphasis on whole system)
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
1
, economies of scale - ANS produce more cost goes down
universal functions of marketing - ANS buying, selling, transporting, storing, standardization
and grading, financing , risk taking, and market information.
buying function - ANS looking for and evaluating goods and services
selling function - ANS promoting the product
transporting function - ANS movement of goods from one place to another
storing function - ANS holding goods until customers need them
standardization and grading - ANS sorting products according to size and quality
financing - ANS necessary cash and credit to produce, transport, store, promote, sell and buy
products
risk taking - ANS beating the uncertainties that are part of marketing process
market info function - ANS collection, analysis, and distribution of all info needed to plan,
carry out, and control marketing activities anywhere
intermediary - ANS someone who specializes in trade rather than production
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
2
