Final Exam BU110 2026 Questions and
Answers
Marketing - Correct answer-Defined as the activity, set of institutions, and
processes for creating, communicating, delivering, and exchanging offerings with
value for customers, clients, partners, and society.
Value - Correct answer-A customer's perception of a product's worth, determined
by comparing its costs and benefits, including quality, against other options.
Marketing Functions - Correct answer-Exchange Functions: Activities involved in
buying and selling merchandise.
Customer Relationship Management (CRM) - Correct answer-Using customer data
to create and maintain long-term, mutually satisfying relationships with customers.
Customer Lifetime Value - Correct answer-The total worth of a customer over their
lifetime with a company, calculated as sales minus costs.
Utility Types - Correct answer-Form Utility: Created by converting production
inputs into finished products.
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, Marketing Concept - Correct answer-A firm should provide products that satisfy
customer needs through coordinated activities to meet the firm's objectives.
Target Market - Correct answer-A group of individuals or organizations that a firm
aims its marketing mix toward to meet specific needs.
Market Segmentation - Correct answer-Dividing a broader market into smaller
segments with distinct characteristics.
Market Segmentation Approaches - Correct answer-Concentrated: Targeting a
single segment.
Marketing Mix (4Ps) - Correct answer-Product: Decisions on design, brand,
packaging, warranties. Product, Price, Place/Distribution, & Promotion
Marketing Environment Forces - Correct answer-Economic: Money-related factors
influencing customer buying ability.
Marketing Plan - Correct answer-A document detailing an organization's marketing
resources, objectives, strategy, and implementation/control measures for a specific
product or group.
Market Measurement and Sales Forecasting - Correct answer-Techniques used to
evaluate market potential and predict future sales to allocate resources effectively.
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Answers
Marketing - Correct answer-Defined as the activity, set of institutions, and
processes for creating, communicating, delivering, and exchanging offerings with
value for customers, clients, partners, and society.
Value - Correct answer-A customer's perception of a product's worth, determined
by comparing its costs and benefits, including quality, against other options.
Marketing Functions - Correct answer-Exchange Functions: Activities involved in
buying and selling merchandise.
Customer Relationship Management (CRM) - Correct answer-Using customer data
to create and maintain long-term, mutually satisfying relationships with customers.
Customer Lifetime Value - Correct answer-The total worth of a customer over their
lifetime with a company, calculated as sales minus costs.
Utility Types - Correct answer-Form Utility: Created by converting production
inputs into finished products.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
, Marketing Concept - Correct answer-A firm should provide products that satisfy
customer needs through coordinated activities to meet the firm's objectives.
Target Market - Correct answer-A group of individuals or organizations that a firm
aims its marketing mix toward to meet specific needs.
Market Segmentation - Correct answer-Dividing a broader market into smaller
segments with distinct characteristics.
Market Segmentation Approaches - Correct answer-Concentrated: Targeting a
single segment.
Marketing Mix (4Ps) - Correct answer-Product: Decisions on design, brand,
packaging, warranties. Product, Price, Place/Distribution, & Promotion
Marketing Environment Forces - Correct answer-Economic: Money-related factors
influencing customer buying ability.
Marketing Plan - Correct answer-A document detailing an organization's marketing
resources, objectives, strategy, and implementation/control measures for a specific
product or group.
Market Measurement and Sales Forecasting - Correct answer-Techniques used to
evaluate market potential and predict future sales to allocate resources effectively.
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
