MKTG 2150 Midterm with correct
answers 2026
ThevRolevofvMarketingvgfocusingvonvcustomervneeds/wants,vcreatingvcustomervvalue,vcreatevandv
amplifyvneeds
TargetvMarketvg-
Avgroupvofvpeoplevforvwhichvavcompanyvdesigns,vimplements,vandvmaintainsvavmarketingvmixvint
end edvtovmeetvthevneedsvofvthatvgroup,vresultingvinvmutuallyvsatisfyingvexchanges
MarketingvMixvg-Product,vPrice,vPlace,vPromotion
productvg-
Allvthevattributesvthatvmakevupvavgood,vavservice,vorvanvidea,vtovsatisfyvthevcustomervneed,vinclu
dingvp roductvdesign,vfeatures,vcolour,vpackaging,vwarranty,vandvservicevlevels
pricevg-
Whatvisvexchangedvforvavproduct,vincludingvthevexpectedvregularvretailvorvsalevprice.
placevg-
,Thevwayvinvwhichvyourvproductvgetsvtovthevconsumer,vincludingvthevdistributionvchannels,vretailvf
orm ats,vandvmerchandisingvusedvtovsellvavproduct.
promotionvg-
Thevtoolsvneededvtovcommunicatevwithvconsumersvaboutvavproduct,vincludingvadvertising,vpublicv
rel
ations,vsalesvpromotion,vdirectvresponse,veventvmarketing,vsponsorship,vonlinevapproaches,vandvpe
r sonalvselling.
ThevMarketingvProcessvg-
Identifyingvconsumervneeds,vmanagingvthevmarketingvmixvandvrealizingvprofits
Whatvcanvbevmarketedvg-goods,vservices,videas
goodsvg-avproductvthatvisvtangible—youvcanvtouchvitvandvownvit.vexample:vpillow
servicevg-isvanvintangiblevproductvyouvcannotvtouch.vexample:vmassage
ideavgisvavconceptvthatvtypicallyvlooksvforvsupport.vexample:vMADDv(vmothersvagainstvdrunkvdrivi
ng)
marketvgpotentialvconsumersvwhovhavevbothvthevwillingnessvandvthevabilityvtovbuyvavproduct.
productionvoreintationvg-Untilvthev1930s,vstagevfocusedvonvmanufacturing
SalesvOrientationvg-
1930svtovthev1960s,vfocusedvonvsellingvasvmanyvproductsvasvpossible,vproductionvmorevefficient
MarketingvOrientationvg-
1960s,vstagevfocusesvonvthevideavthatvanvorganizationvshouldvstrivevtovsatisfyvthevneedsvofvconsu
mersv whilevalsovtryingvtovachievevanvorganization'svgoals.
, relationshipvmarketingvgstagevseesvorganizationsvconsideringvthevlifetimevvaluevofvtheirvcustomers
vandvstrivingvtovoffervbetter vservices,valongvwithvhigher-qualityvproductsvtovencouragevlong-
termvrelationshipsvwithvcustomers.
CustomervRelationshipvManagementv(CRM)vg-
Thisvapproachvisvrootedvinvthevknowledgevthatvitvisvlessvexpensivevtovservicevandvmaintainvcurren
tvcus tomersvthanvtovconstantlyvacquirevnewvones
sharevofvwalletvgrefersvtovthevpercentagevofvavcustomer'svpurchasesvthatvavcompanyvhasvinvavsp
ecificvproductvcategory .vexample:vtrackedvbyvoptimumvcardvatvshoppers
customervlifetimevvaluevgpotentialvsalesvthatvwillvbevgeneratedvbyvavcustomervifvthatvcustomervre
mainsvloyalvtovthatvcompanyvf orvavlifetime.vexample:vtrackedvbyvloyaltyvcards
CorporatevSocialvResponsibilityv(CSR)vg-
organizationsvvoluntarilyvconsidervthevwellbeingvofvsocietyvandvthevenvironmentvbyvtakingvrespons
ibilityvforvhowvtheirvbusinessesvimpactvconsu
mers,vcustomers,vsuppliers,vemployees,vshareholders,vcommunities,vthevenvironment,vandvsocietyvi
nvgeneral.vhelpsvtovbuildvlong-termvrelationshipsvandvsolidifyvbrandvconnectionsvwithvconsumers.
Greenwashingvg-
Avpracticevinvwhichvcompaniesvpromotevtheirvproductsvasvenvironmentallyvfriendlyvwhenvinvtruthv
th evbrandvprovidesvlittlevecologicalvbenefit.
societalvmarketingvconceptvgmarketingvinitiativesvthatvfocusvonvthevconsumervandvthevwellbeingvo
fvsociety.vexample:vthevbodyvshop
DigitalvMarketingvganvapproachvthatvusesvelectronicvmeansvtovreachvconsumers,vwhethervthisvbev
throughvcomputers,vg amingvdevices,vout-of-
homevelectronicvscreens,vorvmobilevdevicesvsuchvasvsmartphonesvandvtablets.
contentvmarketingvgbrandsvorvcompaniesvreachvoutvbyvcreatingvandvsharingvexpertisevand/orvbran
dvinformationvthatvisvd esignedvtovinformvandvengage.vexample:vpodscasts,vevents,vblogs
answers 2026
ThevRolevofvMarketingvgfocusingvonvcustomervneeds/wants,vcreatingvcustomervvalue,vcreatevandv
amplifyvneeds
TargetvMarketvg-
Avgroupvofvpeoplevforvwhichvavcompanyvdesigns,vimplements,vandvmaintainsvavmarketingvmixvint
end edvtovmeetvthevneedsvofvthatvgroup,vresultingvinvmutuallyvsatisfyingvexchanges
MarketingvMixvg-Product,vPrice,vPlace,vPromotion
productvg-
Allvthevattributesvthatvmakevupvavgood,vavservice,vorvanvidea,vtovsatisfyvthevcustomervneed,vinclu
dingvp roductvdesign,vfeatures,vcolour,vpackaging,vwarranty,vandvservicevlevels
pricevg-
Whatvisvexchangedvforvavproduct,vincludingvthevexpectedvregularvretailvorvsalevprice.
placevg-
,Thevwayvinvwhichvyourvproductvgetsvtovthevconsumer,vincludingvthevdistributionvchannels,vretailvf
orm ats,vandvmerchandisingvusedvtovsellvavproduct.
promotionvg-
Thevtoolsvneededvtovcommunicatevwithvconsumersvaboutvavproduct,vincludingvadvertising,vpublicv
rel
ations,vsalesvpromotion,vdirectvresponse,veventvmarketing,vsponsorship,vonlinevapproaches,vandvpe
r sonalvselling.
ThevMarketingvProcessvg-
Identifyingvconsumervneeds,vmanagingvthevmarketingvmixvandvrealizingvprofits
Whatvcanvbevmarketedvg-goods,vservices,videas
goodsvg-avproductvthatvisvtangible—youvcanvtouchvitvandvownvit.vexample:vpillow
servicevg-isvanvintangiblevproductvyouvcannotvtouch.vexample:vmassage
ideavgisvavconceptvthatvtypicallyvlooksvforvsupport.vexample:vMADDv(vmothersvagainstvdrunkvdrivi
ng)
marketvgpotentialvconsumersvwhovhavevbothvthevwillingnessvandvthevabilityvtovbuyvavproduct.
productionvoreintationvg-Untilvthev1930s,vstagevfocusedvonvmanufacturing
SalesvOrientationvg-
1930svtovthev1960s,vfocusedvonvsellingvasvmanyvproductsvasvpossible,vproductionvmorevefficient
MarketingvOrientationvg-
1960s,vstagevfocusesvonvthevideavthatvanvorganizationvshouldvstrivevtovsatisfyvthevneedsvofvconsu
mersv whilevalsovtryingvtovachievevanvorganization'svgoals.
, relationshipvmarketingvgstagevseesvorganizationsvconsideringvthevlifetimevvaluevofvtheirvcustomers
vandvstrivingvtovoffervbetter vservices,valongvwithvhigher-qualityvproductsvtovencouragevlong-
termvrelationshipsvwithvcustomers.
CustomervRelationshipvManagementv(CRM)vg-
Thisvapproachvisvrootedvinvthevknowledgevthatvitvisvlessvexpensivevtovservicevandvmaintainvcurren
tvcus tomersvthanvtovconstantlyvacquirevnewvones
sharevofvwalletvgrefersvtovthevpercentagevofvavcustomer'svpurchasesvthatvavcompanyvhasvinvavsp
ecificvproductvcategory .vexample:vtrackedvbyvoptimumvcardvatvshoppers
customervlifetimevvaluevgpotentialvsalesvthatvwillvbevgeneratedvbyvavcustomervifvthatvcustomervre
mainsvloyalvtovthatvcompanyvf orvavlifetime.vexample:vtrackedvbyvloyaltyvcards
CorporatevSocialvResponsibilityv(CSR)vg-
organizationsvvoluntarilyvconsidervthevwellbeingvofvsocietyvandvthevenvironmentvbyvtakingvrespons
ibilityvforvhowvtheirvbusinessesvimpactvconsu
mers,vcustomers,vsuppliers,vemployees,vshareholders,vcommunities,vthevenvironment,vandvsocietyvi
nvgeneral.vhelpsvtovbuildvlong-termvrelationshipsvandvsolidifyvbrandvconnectionsvwithvconsumers.
Greenwashingvg-
Avpracticevinvwhichvcompaniesvpromotevtheirvproductsvasvenvironmentallyvfriendlyvwhenvinvtruthv
th evbrandvprovidesvlittlevecologicalvbenefit.
societalvmarketingvconceptvgmarketingvinitiativesvthatvfocusvonvthevconsumervandvthevwellbeingvo
fvsociety.vexample:vthevbodyvshop
DigitalvMarketingvganvapproachvthatvusesvelectronicvmeansvtovreachvconsumers,vwhethervthisvbev
throughvcomputers,vg amingvdevices,vout-of-
homevelectronicvscreens,vorvmobilevdevicesvsuchvasvsmartphonesvandvtablets.
contentvmarketingvgbrandsvorvcompaniesvreachvoutvbyvcreatingvandvsharingvexpertisevand/orvbran
dvinformationvthatvisvd esignedvtovinformvandvengage.vexample:vpodscasts,vevents,vblogs
