UCF MAR 3023 Exam 1 Study Guide Questions with well explained answers

Which of the following are associated with marketing, as defined by the American Marketing Association? (Choose every correct answer.) Multiple select question. a.) Organizations that develop industry partnerships for international outsourcing b.) Institutions that facilitate the exchange of offerings that have value for customers c.) Institutions that implement technologies for increased production efficiency d.) Activities that communicate offerings that have value for society at large e.) Processes used to create value for clients - Answer-b, d, e When a toothpaste manufacturer divides the marketplace into smaller targets based on benefits sought by the consumer, this is an example of market ______. Multiple choice question. a.) satisfaction b.) segmentation c.) manufacturing d.) needs - Answer-b.) segmentation A core aspect of marketing involves a(n) _______ which is a transaction in which things of value are traded by buyers and sellers. - Answer-exchange Which of the following are elements of the marketing mix? (Choose every correct answer.) Multiple select question. a.) Portfolio b.) Product c.) Price d.) Purchase - Answer-b, c, d