BCOR 2201 MARKETING MIDTERM EXAM NEWEST
2025 ACTUAL EXAM COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
Market - ans -People with both the desire and ability to buy a specific offering.
Target Market - ans -One or more specific groups of potential consumers toward
which an organization directs its marketing program.
4 P's of Marketing - ans -Product
Price
Place
Promotion
Product - ans -A good, service, or idea to satisfy the consumer's needs.
Price - ans -What is exchanged for the product.
Place - ans -A means of getting the product to the consumer.
Promotion - ans -The means of communication between the buyer and the seller.
Marketing - ans -The art and science of creating value by designing and managing
successful exchanges through implementation of the marketing mix.
Goal of Marketing - ans -To create exchange.
Exchange - ans -The trade of things of value between buyer and seller so that
each is better off after the trade.
Need - ans -When a person feels deprived of basic necessities such as food,
clothing, and shelter.
Want - ans -A need that is shaped by a person's knowledge, culture, and
personality.
, Utility - ans -The benefits or customer value received by users of the product.
Form Utility - ans -The production of the product or service.
Place Utility - ans -Having the product/service where consumers need it.
Time Utility - ans -Having the product/service available when the consumers need
it.
Possession Utility - ans -Making the product affordable, ease of payment.
Service Utility - ans -Value created through customer services.
Colombia Article - ans -This is marketing because ads were geared towards the
target market of guerrilla soldiers in an attempt to get them to stop.
Market Segment - ans -The relatively homogeneous group of prospective buyers
that (1) have common needs, and (2) will respond similarly to a marketing action.
Marketing Program - ans -A plan that integrates the marketing mix to provide a
good, service, or idea to prospective buyers.
Strategy - ans -An organization's long-term course of action designed to deliver a
unique customer experience while achieving its goals.
Strategic Business Unit (SBU) - ans -A unit of the company that has a separate
mission and objectives and that can be planned independently from other
company businesses.
Business Portfolio Analysis - ans -A technique that managers use to quantify
performance measures and growth targets of their firms' strategic business units.
BCG Matrix - ans -Question Mark - Low market share and high growth rate.
Star - High market share and high growth rate.
Cash Cow - High market share and low growth rate.
Dog - Low market share and low growth rate.
2025 ACTUAL EXAM COMPLETE QUESTIONS AND
CORRECT DETAILED ANSWERS (VERIFIED
ANSWERS) |ALREADY GRADED A+
Market - ans -People with both the desire and ability to buy a specific offering.
Target Market - ans -One or more specific groups of potential consumers toward
which an organization directs its marketing program.
4 P's of Marketing - ans -Product
Price
Place
Promotion
Product - ans -A good, service, or idea to satisfy the consumer's needs.
Price - ans -What is exchanged for the product.
Place - ans -A means of getting the product to the consumer.
Promotion - ans -The means of communication between the buyer and the seller.
Marketing - ans -The art and science of creating value by designing and managing
successful exchanges through implementation of the marketing mix.
Goal of Marketing - ans -To create exchange.
Exchange - ans -The trade of things of value between buyer and seller so that
each is better off after the trade.
Need - ans -When a person feels deprived of basic necessities such as food,
clothing, and shelter.
Want - ans -A need that is shaped by a person's knowledge, culture, and
personality.
, Utility - ans -The benefits or customer value received by users of the product.
Form Utility - ans -The production of the product or service.
Place Utility - ans -Having the product/service where consumers need it.
Time Utility - ans -Having the product/service available when the consumers need
it.
Possession Utility - ans -Making the product affordable, ease of payment.
Service Utility - ans -Value created through customer services.
Colombia Article - ans -This is marketing because ads were geared towards the
target market of guerrilla soldiers in an attempt to get them to stop.
Market Segment - ans -The relatively homogeneous group of prospective buyers
that (1) have common needs, and (2) will respond similarly to a marketing action.
Marketing Program - ans -A plan that integrates the marketing mix to provide a
good, service, or idea to prospective buyers.
Strategy - ans -An organization's long-term course of action designed to deliver a
unique customer experience while achieving its goals.
Strategic Business Unit (SBU) - ans -A unit of the company that has a separate
mission and objectives and that can be planned independently from other
company businesses.
Business Portfolio Analysis - ans -A technique that managers use to quantify
performance measures and growth targets of their firms' strategic business units.
BCG Matrix - ans -Question Mark - Low market share and high growth rate.
Star - High market share and high growth rate.
Cash Cow - High market share and low growth rate.
Dog - Low market share and low growth rate.
