HFT4502 PRACTICE EXAM 2026 QUESTIONS
WITH DETAILED EXPLANATIONS
● value . Answer: Marketing is the process by which companies create
_________
● Marketing mix . Answer: advertising, personal selling, public
relations, direct marketing, sales promotion
-carefully blended mix of promotional tools provides a clear, consistent,
and compelling company and brand messages
● Want . Answer: Needs that are influenced by culture and personality
● Demand . Answer: A type of want that has financial backing.
Unlimited wants, but limited resources. Therefore, consumers must
make choices
● *Product- . Answer: anything that can be offered to a market that can
satisfy a want or a need
● product . Answer: Service- simply a type of ___________
, ● Value proposition . Answer: set of benefits or values that a market
offering promises to deliver to customers to satisfy needs
*What differentiates you from your competitors??
Why do your customers come to you and not your competitors
● exchange . Answer: Marketing occurs when people decide to satisfy
needs and wants through ___________
● *Discrete- . Answer: opposite of continuous.
● continuous . Answer: Marketers want to create ______________
business. Not discrete.
● Customer value- . Answer: The difference between the benefits and
costs of obtaining the product
● 1. Past experiences
2. Product reviews
3. Opinions of friends
4. Market information . Answer: Expectation
Anticipated the outcome of a purchase
WITH DETAILED EXPLANATIONS
● value . Answer: Marketing is the process by which companies create
_________
● Marketing mix . Answer: advertising, personal selling, public
relations, direct marketing, sales promotion
-carefully blended mix of promotional tools provides a clear, consistent,
and compelling company and brand messages
● Want . Answer: Needs that are influenced by culture and personality
● Demand . Answer: A type of want that has financial backing.
Unlimited wants, but limited resources. Therefore, consumers must
make choices
● *Product- . Answer: anything that can be offered to a market that can
satisfy a want or a need
● product . Answer: Service- simply a type of ___________
, ● Value proposition . Answer: set of benefits or values that a market
offering promises to deliver to customers to satisfy needs
*What differentiates you from your competitors??
Why do your customers come to you and not your competitors
● exchange . Answer: Marketing occurs when people decide to satisfy
needs and wants through ___________
● *Discrete- . Answer: opposite of continuous.
● continuous . Answer: Marketers want to create ______________
business. Not discrete.
● Customer value- . Answer: The difference between the benefits and
costs of obtaining the product
● 1. Past experiences
2. Product reviews
3. Opinions of friends
4. Market information . Answer: Expectation
Anticipated the outcome of a purchase
