WOLTER MKTG 3310 EXAM 1
QUESTIONS AND ANSWERS GRADED A+
2026
Who determines the value of a product? - ANS The customer. (Value=What you get-what you
give)
ex. Customers saw value in PBR
If companies don't determine value, what do they do? - ANS They offer value propositions.
Which is a need satisfying market market offering
What is a customers perceived value? - ANS The customer's evaluation of the difference
between all the benefits and all of the costs of a marketing offering relative to those of
competing offers.
What is satisfaction? - ANS A pleasurable fulfillment response to a consumption experience.
What drives satisfaction? - ANS Disconfirmation. which is when you disconfirm the
performance of the thing in relation to my expectation.
ex. "I have my expectations for how good chipotle is going to be. As long as chipotle meets
those expectations or even if they are just slightly above them, my expectations are
disconfirmed and I'm satisfied."
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
1
, What does the determination of satisfaction using disconfirmation tell us about McDonalds? -
ANS We can be satisfied by McDonalds as long as they meet our expectations, which are
pretty low usually.
What is the ACSI and why does it matter? - ANS A national metric of satisfaction that was
consumer driven. ACSI caused companies to realize that satisfaction is important.
What can McDonald's ACSI scores tell us about their ability to satisfy? - ANS ACSI tells us that
even though our expectations are really low for McDonalds, they still don't meet them based on
their ACSI scores. They just keep messing up, which is why they keep running through CEOs.
What is a market? What is it NOT. - ANS The people that can, and possibly will buy the
product. It is Not a demographic.
Is there such a thing as an Auburn target market? Why or why not? - ANS No. Because as
college students, we're not all in the market for that product we're talking about. Some of us go
to McDonalds, chipotle, both, or neither.
Do markets share a common need or want? - ANS No, for example PBR consumers don't all
have common needs and wants. We subdivide the general market into target markets. (Blue E-
Cigs).
What does the definition of a market tell us about Chik-Fil-A's customer satisfaction in relation
to the LGBTQ controversy? - ANS This doesn't affect customer satisfaction because the
people that are angry at Chick-Fil-A are not even in their market really. To be in the market you
have to want the product and you have to go get it.
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
2
QUESTIONS AND ANSWERS GRADED A+
2026
Who determines the value of a product? - ANS The customer. (Value=What you get-what you
give)
ex. Customers saw value in PBR
If companies don't determine value, what do they do? - ANS They offer value propositions.
Which is a need satisfying market market offering
What is a customers perceived value? - ANS The customer's evaluation of the difference
between all the benefits and all of the costs of a marketing offering relative to those of
competing offers.
What is satisfaction? - ANS A pleasurable fulfillment response to a consumption experience.
What drives satisfaction? - ANS Disconfirmation. which is when you disconfirm the
performance of the thing in relation to my expectation.
ex. "I have my expectations for how good chipotle is going to be. As long as chipotle meets
those expectations or even if they are just slightly above them, my expectations are
disconfirmed and I'm satisfied."
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
1
, What does the determination of satisfaction using disconfirmation tell us about McDonalds? -
ANS We can be satisfied by McDonalds as long as they meet our expectations, which are
pretty low usually.
What is the ACSI and why does it matter? - ANS A national metric of satisfaction that was
consumer driven. ACSI caused companies to realize that satisfaction is important.
What can McDonald's ACSI scores tell us about their ability to satisfy? - ANS ACSI tells us that
even though our expectations are really low for McDonalds, they still don't meet them based on
their ACSI scores. They just keep messing up, which is why they keep running through CEOs.
What is a market? What is it NOT. - ANS The people that can, and possibly will buy the
product. It is Not a demographic.
Is there such a thing as an Auburn target market? Why or why not? - ANS No. Because as
college students, we're not all in the market for that product we're talking about. Some of us go
to McDonalds, chipotle, both, or neither.
Do markets share a common need or want? - ANS No, for example PBR consumers don't all
have common needs and wants. We subdivide the general market into target markets. (Blue E-
Cigs).
What does the definition of a market tell us about Chik-Fil-A's customer satisfaction in relation
to the LGBTQ controversy? - ANS This doesn't affect customer satisfaction because the
people that are angry at Chick-Fil-A are not even in their market really. To be in the market you
have to want the product and you have to go get it.
@COPYRIGHT 2026/2027 ALL RIGHTS RESERVED
2
