MIE 201 Exam 4 (11,12,13) Makanui
Exam 2026 Questions and Answers
marketing - Correct answer-a group of activities designed to expedite transactions
by creating, distributing, pricing, and promoting goods, services, and ideas
exchange - Correct answer-the act of giving up one thing ($, credit, labor, goods) in
return for something else (goods, services, or ideas)
marketing activities - Correct answer-buying, selling, transporting, storing,
grading, financing, marketing, research, risk-taking
value - Correct answer-A customer's subjective assessment of benefits relative to
costs in determining the worth of a product
marketing concept - Correct answer-the idea that an organization should strive to
satisfy the needs of consumers while also trying to achieve the organization's goals
market orientation - Correct answer-requires organizations to gather information
about customer needs, share the information throughout the entire firm, and sue it
to help build long-term relationships with customers
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, marketing strategy - Correct answer-a plan of action for developing, pricing,
distributing, and promoting products that meet the needs of specific customers
market - Correct answer-a group of people who have a need, purchasing power,
and the desire and authority to spend money on goods, services, and ideas
target market - Correct answer-a more specific group of consumers on whose needs
and wants a company focuses its marketing efforts
total-market approach - Correct answer-they try to appeal to everyone and assume
that all buyers have similar needs and wants
market segmentation - Correct answer-divides the total market into groups of
people
market segment - Correct answer-a collection of individuals, groups, or
organizations who share one or more characteristics and thus have relatively
similar product needs and desires
The four bases for segmenting markets - Correct answer-Demographic (age, sex,
race, income, education, religion, social class), Geographic (climate, terrain),
Psychographic (personality, lifestyle), Behavioristic (consumer's behavior towards
product)
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
Exam 2026 Questions and Answers
marketing - Correct answer-a group of activities designed to expedite transactions
by creating, distributing, pricing, and promoting goods, services, and ideas
exchange - Correct answer-the act of giving up one thing ($, credit, labor, goods) in
return for something else (goods, services, or ideas)
marketing activities - Correct answer-buying, selling, transporting, storing,
grading, financing, marketing, research, risk-taking
value - Correct answer-A customer's subjective assessment of benefits relative to
costs in determining the worth of a product
marketing concept - Correct answer-the idea that an organization should strive to
satisfy the needs of consumers while also trying to achieve the organization's goals
market orientation - Correct answer-requires organizations to gather information
about customer needs, share the information throughout the entire firm, and sue it
to help build long-term relationships with customers
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, marketing strategy - Correct answer-a plan of action for developing, pricing,
distributing, and promoting products that meet the needs of specific customers
market - Correct answer-a group of people who have a need, purchasing power,
and the desire and authority to spend money on goods, services, and ideas
target market - Correct answer-a more specific group of consumers on whose needs
and wants a company focuses its marketing efforts
total-market approach - Correct answer-they try to appeal to everyone and assume
that all buyers have similar needs and wants
market segmentation - Correct answer-divides the total market into groups of
people
market segment - Correct answer-a collection of individuals, groups, or
organizations who share one or more characteristics and thus have relatively
similar product needs and desires
The four bases for segmenting markets - Correct answer-Demographic (age, sex,
race, income, education, religion, social class), Geographic (climate, terrain),
Psychographic (personality, lifestyle), Behavioristic (consumer's behavior towards
product)
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
