1 | P a g e | © copyright 2024/2025 | Grade A+
NUSC 4272 Exam 1 Questions and
Answers (100% Pass)
Marketing overview
✓ Consists of individual & organizational activities that facilitate and
expedite satisfying exchange relationships in a dynamic environment
through the creation, distribution, promotion, and pricing of goods,
services, and ideas
✓ - American Marketing Association
✓ - Efficient and fair system which directs an economy's flow of goods
from producers to consumers and accomplishes the objectives of
society
✓ - Need to satisfy both the customer's needs and the company's
objectives
✓ - 40 - 60% of consumer $'s goes toward marketing activities
2 levels of marketing
✓ Macro-Marketing and Micro-Marketing
✓ - Macro looks at the economy's entire marketing system
✓ - Micro looks at individual company
Master01 | October, 2024/2025 | Latest update
, 1 | P a g e | © copyright 2024/2025 | Grade A+
Macro-marketing
✓ Objective to create goods & services & make them available when &
where they are needed
✓ - Economy = Producers + Consumers
✓ - Producers: concerned with their income & production
✓ - Consumers: concerned with what you can buy with your $
Free market economy
✓ Market driven, "Capitalism", Price is a measure of value and fluctuates
so both producers & consumers are happy
✓ - Consumers decide what to purchase & therefore affect production
✓ - What is someone willing to pay?
Other economies?
✓ - Russia has mixed economy
✓ - China has a socialist market economy
Law of Diminishing Demand
Master01 | October, 2024/2025 | Latest update
, 1 | P a g e | © copyright 2024/2025 | Grade A+
✓ Consumer
✓ - if the price of a commodity is raised; a smaller quantity will be
demanded
✓ - if the price of a commodity is lowered; a greater quantity will be
demanded
Late 1800s/Industrial Revolution
✓ - Beginning of mass production & marketing
✓ - Products made more economically
✓ - Focus of distribution
1920s
✓ Advertising & Sales focus- differentiating products
1950s
✓ - Marketing dept.
✓ - Consumer research
✓ - Advise mgmt of how to design, price, distribute & promote
Marketing today
Master01 | October, 2024/2025 | Latest update
, 1 | P a g e | © copyright 2024/2025 | Grade A+
✓ - Customer satisfaction: customer's positive, neutral, or negative
feelings about the value received from a product
✓ - Customer loyalty: refers to the frequency with which a customer
consistently purchases a specific brand
Ethics of marketing
✓ - A Code of Ethics: Rules for standards of professional behavior, based
on relationships within businesses and professional organizations
✓ - Standards of Practice: Measure of what is expected to happen
Ethical Conduct
✓ - Priority of an organization
✓ - Through proper planning, organizing, staffing, leading, and controlling
ensure that ethical conduct is followed
✓ - Academy of Nutrition and Dietetics Code of Ethics (AND Code of
Ethics)
✓ - Sponsorship (Advertising and Sponsorship)
Different marketing concepts
Master01 | October, 2024/2025 | Latest update
NUSC 4272 Exam 1 Questions and
Answers (100% Pass)
Marketing overview
✓ Consists of individual & organizational activities that facilitate and
expedite satisfying exchange relationships in a dynamic environment
through the creation, distribution, promotion, and pricing of goods,
services, and ideas
✓ - American Marketing Association
✓ - Efficient and fair system which directs an economy's flow of goods
from producers to consumers and accomplishes the objectives of
society
✓ - Need to satisfy both the customer's needs and the company's
objectives
✓ - 40 - 60% of consumer $'s goes toward marketing activities
2 levels of marketing
✓ Macro-Marketing and Micro-Marketing
✓ - Macro looks at the economy's entire marketing system
✓ - Micro looks at individual company
Master01 | October, 2024/2025 | Latest update
, 1 | P a g e | © copyright 2024/2025 | Grade A+
Macro-marketing
✓ Objective to create goods & services & make them available when &
where they are needed
✓ - Economy = Producers + Consumers
✓ - Producers: concerned with their income & production
✓ - Consumers: concerned with what you can buy with your $
Free market economy
✓ Market driven, "Capitalism", Price is a measure of value and fluctuates
so both producers & consumers are happy
✓ - Consumers decide what to purchase & therefore affect production
✓ - What is someone willing to pay?
Other economies?
✓ - Russia has mixed economy
✓ - China has a socialist market economy
Law of Diminishing Demand
Master01 | October, 2024/2025 | Latest update
, 1 | P a g e | © copyright 2024/2025 | Grade A+
✓ Consumer
✓ - if the price of a commodity is raised; a smaller quantity will be
demanded
✓ - if the price of a commodity is lowered; a greater quantity will be
demanded
Late 1800s/Industrial Revolution
✓ - Beginning of mass production & marketing
✓ - Products made more economically
✓ - Focus of distribution
1920s
✓ Advertising & Sales focus- differentiating products
1950s
✓ - Marketing dept.
✓ - Consumer research
✓ - Advise mgmt of how to design, price, distribute & promote
Marketing today
Master01 | October, 2024/2025 | Latest update
, 1 | P a g e | © copyright 2024/2025 | Grade A+
✓ - Customer satisfaction: customer's positive, neutral, or negative
feelings about the value received from a product
✓ - Customer loyalty: refers to the frequency with which a customer
consistently purchases a specific brand
Ethics of marketing
✓ - A Code of Ethics: Rules for standards of professional behavior, based
on relationships within businesses and professional organizations
✓ - Standards of Practice: Measure of what is expected to happen
Ethical Conduct
✓ - Priority of an organization
✓ - Through proper planning, organizing, staffing, leading, and controlling
ensure that ethical conduct is followed
✓ - Academy of Nutrition and Dietetics Code of Ethics (AND Code of
Ethics)
✓ - Sponsorship (Advertising and Sponsorship)
Different marketing concepts
Master01 | October, 2024/2025 | Latest update
