MAR3023 FSU EXAM 1 BRADY | QUESTIONS AND ANSWERS | WITH COMPLETE SOLUTION.
What is Marketing? - (ANSWER)To identify unmet consumer needs & then develop products that fill
those needs & then develop products that fill those needs.
Pure Marketing - (ANSWER)Business function that develops the products that people want to buy
because they know they need them and because they can afford them and because they can find them.
(Don't have to advertise)
Example of Pure Marketing - (ANSWER)Coca Cola - It tastes good & delivers caffeine. Don't have to go to
far to buy one and it is low cost.
Product Development - (ANSWER)Core marketing function. If the product is good the firm has to do little
advertising.
Example of Good Product Development - (ANSWER)Apple, Bedsox, Munchy Mart & Four Rivers
Impure Marketing - (ANSWER)Firms fail to objectively distinguish their products from competitors.
(Having to advertise because of competitors) Very powerful
Examples of Impure Marketing - (ANSWER)Dasani, Zephrahuills, Fiji, Walgreens water.
Power of Marketing - (ANSWER)Branding & Marketing are powerful. Marketers have power to change
perception of customers with 4 P's
Marketing's core strategies - (ANSWER)Creating value and relationships
Segmenting Markets
Identifying opportunities
Creating Value - (ANSWER)Value
Small Banks: Serve starbucks, offer babysitting , extended hours & free toasters
, MAR3023 FSU EXAM 1 BRADY | QUESTIONS AND ANSWERS | WITH COMPLETE SOLUTION.
Sheraton Hotel in L.A.: Offers 24 hour check in, room available any time, guaranteed 24 hour block room
stay & occupancy went from 66%-90%
Creating Relationship - (ANSWER)Establishing long term mutually satisfying, buyer seller relationship.
Examples of Creating Relationship - (ANSWER)Ex. Disney: Theme parks, movies/tv/radio, cruises &
Disney on ice.
Chick-fil-a: Go extra mile, "my pleasure" bring umbrellas, pull out chairs for ladies, bus tables, refill
drinks.
Segmenting Markets - (ANSWER)Targets different wants & needs. Separates devils from angels, store
clerks are given training to identify desirable/angel customers. High income men "Barry's" Suburban
moms "Jills" Male early adopters "Buzzes"
Examples of Segmenting Markets - (ANSWER)Coke Zero - For Men
Diet Coke - For women
Marriott- Hotels for just suites and inns. Resorts
Identifying Opportunties - (ANSWER)Circumstance & timing meet to create strategic windows
History of Marketing - (ANSWER)Production Era - firms produced what they could make
Sales Era - firms pushed products using aggressive sales tactics
Marketing Era- focus on customer orientation
Societal Era - firms now serve three entities
Simple Trade Era - (ANSWER)Products were made by hand, grown or traded in small quantities. Lasted
up until the industrial revolution.
What is Marketing? - (ANSWER)To identify unmet consumer needs & then develop products that fill
those needs & then develop products that fill those needs.
Pure Marketing - (ANSWER)Business function that develops the products that people want to buy
because they know they need them and because they can afford them and because they can find them.
(Don't have to advertise)
Example of Pure Marketing - (ANSWER)Coca Cola - It tastes good & delivers caffeine. Don't have to go to
far to buy one and it is low cost.
Product Development - (ANSWER)Core marketing function. If the product is good the firm has to do little
advertising.
Example of Good Product Development - (ANSWER)Apple, Bedsox, Munchy Mart & Four Rivers
Impure Marketing - (ANSWER)Firms fail to objectively distinguish their products from competitors.
(Having to advertise because of competitors) Very powerful
Examples of Impure Marketing - (ANSWER)Dasani, Zephrahuills, Fiji, Walgreens water.
Power of Marketing - (ANSWER)Branding & Marketing are powerful. Marketers have power to change
perception of customers with 4 P's
Marketing's core strategies - (ANSWER)Creating value and relationships
Segmenting Markets
Identifying opportunities
Creating Value - (ANSWER)Value
Small Banks: Serve starbucks, offer babysitting , extended hours & free toasters
, MAR3023 FSU EXAM 1 BRADY | QUESTIONS AND ANSWERS | WITH COMPLETE SOLUTION.
Sheraton Hotel in L.A.: Offers 24 hour check in, room available any time, guaranteed 24 hour block room
stay & occupancy went from 66%-90%
Creating Relationship - (ANSWER)Establishing long term mutually satisfying, buyer seller relationship.
Examples of Creating Relationship - (ANSWER)Ex. Disney: Theme parks, movies/tv/radio, cruises &
Disney on ice.
Chick-fil-a: Go extra mile, "my pleasure" bring umbrellas, pull out chairs for ladies, bus tables, refill
drinks.
Segmenting Markets - (ANSWER)Targets different wants & needs. Separates devils from angels, store
clerks are given training to identify desirable/angel customers. High income men "Barry's" Suburban
moms "Jills" Male early adopters "Buzzes"
Examples of Segmenting Markets - (ANSWER)Coke Zero - For Men
Diet Coke - For women
Marriott- Hotels for just suites and inns. Resorts
Identifying Opportunties - (ANSWER)Circumstance & timing meet to create strategic windows
History of Marketing - (ANSWER)Production Era - firms produced what they could make
Sales Era - firms pushed products using aggressive sales tactics
Marketing Era- focus on customer orientation
Societal Era - firms now serve three entities
Simple Trade Era - (ANSWER)Products were made by hand, grown or traded in small quantities. Lasted
up until the industrial revolution.
