©THEBRIGHT 2025 ALL RIGHTS RESERVED 11:11AM.
Mkt 291 Exam 1 Questions And Answers
2025 Update.
Marketing Mix - Answer✔1. product
2.place
3.promotion
4.place
Marketing - Answer✔activity for creating, communicating, delivering, and exchanging offerings
that benefit its customers, the organization, stakeholders and society at large.
Customer value proposition - Answer✔brief statement that sums up how a business satisfies
customer needs.
Market orientation - Answer✔creates customer value through collecting info about customer
needs.
Relationship marketing - Answer✔links organization to its customer, employees,suppliers,and
other partners for mutual long term benefits.
customer value - Answer✔unique combination of benefits received by targeted buyers at a
specific price.
relationship marketing - Answer✔maintaining effective customer relationships
according to AMA who benefits from marketing - Answer✔customers, society, stakeholders,
NOT political structures
customer value - Answer✔combination of benefits received by targeted buyers
marketing concept - Answer✔org should try to achieve its own goals and satisfy the wants and
needs of consumers
organizational buyers - Answer✔firms that buy goods+services for their own use or resale
what is exchanged when marketing occurs - Answer✔intangible services, information, money,
satisfaction, NOT a competitive position
1
, ©THEBRIGHT 2025 ALL RIGHTS RESERVED 11:11AM.
customer value benefits - Answer✔after sale service, convenience, quality, NOT corporate
partnerships
customer relationship management - Answer✔process of identifying prospective buyers,
understanding them, and developing favorable long term perceptions of the organization
organization structure - Answer✔1.board of directors
2. corporate level
3.strategic business unit level
organizational foundation - Answer✔philosophical reason for being
mission - Answer✔statement of organization's function in society that identifies
customers,markets,products and technologies
organizational culture - Answer✔set of values, ideas, attitudes, and norms of behavior
business - Answer✔describes clear, broad, underlying industry
goal/objective - Answer✔statement of accomplishment of a task to be achieved
market share - Answer✔ratio of sales rev of the firm to the total sales rev of all firms in the
industry
marketing dashboard - Answer✔visual computer display of the essential info related to
achieving a marketing objective
marketing metric - Answer✔measure of quantitative value or trend of a marketing action or
result
business portfolio analysis - Answer✔technique managers use to quantify performance
measures and growth targets to analyze their firms strategic business units as though they were
a collection of separate investments
diversification analysis - Answer✔technique firm uses to search for growth opportunities
among current and new products and markets
market-product strategies - Answer✔market penetration, market development, diversification,
product development
strategic marketing process - Answer✔1.planning phase
-swot analysis
-market-product focus and goal setting
-marketing program
2.implementation phase
2
Mkt 291 Exam 1 Questions And Answers
2025 Update.
Marketing Mix - Answer✔1. product
2.place
3.promotion
4.place
Marketing - Answer✔activity for creating, communicating, delivering, and exchanging offerings
that benefit its customers, the organization, stakeholders and society at large.
Customer value proposition - Answer✔brief statement that sums up how a business satisfies
customer needs.
Market orientation - Answer✔creates customer value through collecting info about customer
needs.
Relationship marketing - Answer✔links organization to its customer, employees,suppliers,and
other partners for mutual long term benefits.
customer value - Answer✔unique combination of benefits received by targeted buyers at a
specific price.
relationship marketing - Answer✔maintaining effective customer relationships
according to AMA who benefits from marketing - Answer✔customers, society, stakeholders,
NOT political structures
customer value - Answer✔combination of benefits received by targeted buyers
marketing concept - Answer✔org should try to achieve its own goals and satisfy the wants and
needs of consumers
organizational buyers - Answer✔firms that buy goods+services for their own use or resale
what is exchanged when marketing occurs - Answer✔intangible services, information, money,
satisfaction, NOT a competitive position
1
, ©THEBRIGHT 2025 ALL RIGHTS RESERVED 11:11AM.
customer value benefits - Answer✔after sale service, convenience, quality, NOT corporate
partnerships
customer relationship management - Answer✔process of identifying prospective buyers,
understanding them, and developing favorable long term perceptions of the organization
organization structure - Answer✔1.board of directors
2. corporate level
3.strategic business unit level
organizational foundation - Answer✔philosophical reason for being
mission - Answer✔statement of organization's function in society that identifies
customers,markets,products and technologies
organizational culture - Answer✔set of values, ideas, attitudes, and norms of behavior
business - Answer✔describes clear, broad, underlying industry
goal/objective - Answer✔statement of accomplishment of a task to be achieved
market share - Answer✔ratio of sales rev of the firm to the total sales rev of all firms in the
industry
marketing dashboard - Answer✔visual computer display of the essential info related to
achieving a marketing objective
marketing metric - Answer✔measure of quantitative value or trend of a marketing action or
result
business portfolio analysis - Answer✔technique managers use to quantify performance
measures and growth targets to analyze their firms strategic business units as though they were
a collection of separate investments
diversification analysis - Answer✔technique firm uses to search for growth opportunities
among current and new products and markets
market-product strategies - Answer✔market penetration, market development, diversification,
product development
strategic marketing process - Answer✔1.planning phase
-swot analysis
-market-product focus and goal setting
-marketing program
2.implementation phase
2
