MBC STUDY GUIDE WITH COMPLETE
SOLUTIONS
When past experience is insufficient, the risk of making a wrong decision is high, and
the cost of gathering info is low, the consumer is likely to use a ___ for info. - Answer-
External Search.
Extended Problem Solving - Answer- Involves high decision-making, usually for
infrequently purchased products like a house, car, etc.
Limited Problem Solving - Answer- Mid-level decision-making, usually for occasionally
purchased products like a toaster, restaurant, etc.
Routine Problem Solving - Answer- Involves low-decision making, usually for frequently
bought products like soda, detergents, etc.
The energizing force that stimulates behavior to satisfy a need is referred to as... -
Answer- Motivation
An organization's long-term course of action designed to deliver a unique customer
experience while achieving its goals is... - Answer- Strategy
Marketing - Answer- the activity for creating, communicating, delivering, and exchanging
offerings that benefit its customers, the organization, its stakeholders, and society at
large
Marketing seeks to... - Answer- Discover and Satisfy the needs of customers.
Exchange - Answer- the trade of things of value between the buyer and the seller so
that each is better off as a result
What four factors are needed for marketingto occur? - Answer- (1) Two or more parties
(2) a desire or ability to havetheir needs satisfied (3) a way of communicationand (4)
something to exchange
Need - Answer- occurs when a person feels deprived of basic necessities such as food,
clothing, and shelter
SOLUTIONS
When past experience is insufficient, the risk of making a wrong decision is high, and
the cost of gathering info is low, the consumer is likely to use a ___ for info. - Answer-
External Search.
Extended Problem Solving - Answer- Involves high decision-making, usually for
infrequently purchased products like a house, car, etc.
Limited Problem Solving - Answer- Mid-level decision-making, usually for occasionally
purchased products like a toaster, restaurant, etc.
Routine Problem Solving - Answer- Involves low-decision making, usually for frequently
bought products like soda, detergents, etc.
The energizing force that stimulates behavior to satisfy a need is referred to as... -
Answer- Motivation
An organization's long-term course of action designed to deliver a unique customer
experience while achieving its goals is... - Answer- Strategy
Marketing - Answer- the activity for creating, communicating, delivering, and exchanging
offerings that benefit its customers, the organization, its stakeholders, and society at
large
Marketing seeks to... - Answer- Discover and Satisfy the needs of customers.
Exchange - Answer- the trade of things of value between the buyer and the seller so
that each is better off as a result
What four factors are needed for marketingto occur? - Answer- (1) Two or more parties
(2) a desire or ability to havetheir needs satisfied (3) a way of communicationand (4)
something to exchange
Need - Answer- occurs when a person feels deprived of basic necessities such as food,
clothing, and shelter
