MKTG 301 EXAM 1 (ROTH) QUESTIONS AND ANSWERS 2025
Marketing - (ANSWER)The process by which companies create VALUE for customers and build strong
customer relationships in order to capture VALUE from customers in return
4 Ps of Marketing - (ANSWER)1) What do potential customers need/want? PRODUCT
2) How much should we ask customers to pay?
PRICE
3) How will we get it to the customers?
PLACE
4) How will we communicate with the customers?
PROMOTION
The Marketing Concept - (ANSWER)market (starting) -> customer needs (focus) -> integrated marketing
(means) -> profits through customer satisfaction (ends)
Products - (ANSWER)physical objects, people, organizations, places, information, ideas (how marketers
create value)
The Selling Concept - (ANSWER)Factory (starting point) -> Existing products (focus) -> selling and
promoting (means) -> profits through sales volumes (ends)
Societal Marketing Concept - (ANSWER)Society (human welfare ) v consumers (want satifaction) ->
company (profits)
Marketing Mix - (ANSWER)Product
Price
Place
Promotion
CUSTOMER IS AT THE CENTER!
, MKTG 301 EXAM 1 (ROTH) QUESTIONS AND ANSWERS 2025
Customer Value Results In: - (ANSWER)1) Customer loyalty and retention
2) Customer refferals
3) More customers
4) Customer equity (lifetime value of customer x # of customers you have)
5) Higher profits
Profitability/Loyalty Chart - (ANSWER)High profitablity, low loyalty: butterflies
High profitability, high loyalty: true friends *** What you want ***
Low profitablity, low loyalty: strangers
Low profitability, high loyalty: barnacles
Marketing Environment - (ANSWER)the actors and forces outside marketing that affect marketing
management's ability to build and maintain successful RELATIONSHIPS with target customers
Microenvironment - (ANSWER)1. The Company
2. Suppliers + Marketing Intermediaries
3. Competitors
4. Publics
5. Customers
(MICRO) The company - (ANSWER)- all departments must think "consumer"
- cooperate interfunctionally to provide superior customer value and satisfaction
finance: finds the money to carry out the marketing plan
accounting: measures revenues/costs + keeps marketing on track
management: sets the mission and objectives
operations: produces and distributes the product
purchasing: obtains supplies and materials
Marketing - (ANSWER)The process by which companies create VALUE for customers and build strong
customer relationships in order to capture VALUE from customers in return
4 Ps of Marketing - (ANSWER)1) What do potential customers need/want? PRODUCT
2) How much should we ask customers to pay?
PRICE
3) How will we get it to the customers?
PLACE
4) How will we communicate with the customers?
PROMOTION
The Marketing Concept - (ANSWER)market (starting) -> customer needs (focus) -> integrated marketing
(means) -> profits through customer satisfaction (ends)
Products - (ANSWER)physical objects, people, organizations, places, information, ideas (how marketers
create value)
The Selling Concept - (ANSWER)Factory (starting point) -> Existing products (focus) -> selling and
promoting (means) -> profits through sales volumes (ends)
Societal Marketing Concept - (ANSWER)Society (human welfare ) v consumers (want satifaction) ->
company (profits)
Marketing Mix - (ANSWER)Product
Price
Place
Promotion
CUSTOMER IS AT THE CENTER!
, MKTG 301 EXAM 1 (ROTH) QUESTIONS AND ANSWERS 2025
Customer Value Results In: - (ANSWER)1) Customer loyalty and retention
2) Customer refferals
3) More customers
4) Customer equity (lifetime value of customer x # of customers you have)
5) Higher profits
Profitability/Loyalty Chart - (ANSWER)High profitablity, low loyalty: butterflies
High profitability, high loyalty: true friends *** What you want ***
Low profitablity, low loyalty: strangers
Low profitability, high loyalty: barnacles
Marketing Environment - (ANSWER)the actors and forces outside marketing that affect marketing
management's ability to build and maintain successful RELATIONSHIPS with target customers
Microenvironment - (ANSWER)1. The Company
2. Suppliers + Marketing Intermediaries
3. Competitors
4. Publics
5. Customers
(MICRO) The company - (ANSWER)- all departments must think "consumer"
- cooperate interfunctionally to provide superior customer value and satisfaction
finance: finds the money to carry out the marketing plan
accounting: measures revenues/costs + keeps marketing on track
management: sets the mission and objectives
operations: produces and distributes the product
purchasing: obtains supplies and materials
