COB 300D Exam 1 Questions with Verified Answers Questions with Correct Answers
Question 1:
The activity for creating, communicating, delivering, and exchanging offerings that benefit customers,
the organization, its stakeholders, and society
at large.
Answer:
Marketing
Question 2:
For Marketing to Occur there must be 4 things:
Answer:
1. two or more parties with unsatisfied needs. 2. a desire and an ability to satisfy these needs. 3. a way
for the parties to communicate. 4. something to
exchange.
Question 3:
What are the 5
environmental forces
Answer:
1. Social 2. Economic 3. Competitive 4. Technological
5. Regulatory
Question 4:
The essence of successful marketing and gaining loyal customers is for firms
to focus on:
Answer:
providing customer value
Question 5:
the belief that organizations are accountable to a larger society for their actions
Answer:
Social Responsibility
Question 6:
An organizations long term course of action designed to deliver a unique customer experience while
achieving its goals is the
Answer:
Strategy
Question 7:
In an organization, the
overseas the corporate level
, Answer:
Board of Directors
Question 8:
Visual computer display of the essential information related to achieving a marketing objective
Answer:
Marketing Dashboard
Question 9:
The horizontal axis of the BCG analysis model is
Answer:
the relative market share
Question 10:
The vertical axis of the BCG analysis model is
Answer:
the market growth rate
Question 11:
Developing new products and selling them in to new markets (Bud Light Ritas)
Answer:
Diversification
Question 12:
SWOT analysis should be performed during which part of the strategic marketing process?
Answer:
The situational analysis step of the planning phase
Question 13:
Characteristics of a product that make it superior to competitive substitutes
Answer:
Points of difference
Question 14:
Distribution is the only important element of the marketing mix in which type of competitive
environment?
Answer:
Pure Competition
Question 1:
The activity for creating, communicating, delivering, and exchanging offerings that benefit customers,
the organization, its stakeholders, and society
at large.
Answer:
Marketing
Question 2:
For Marketing to Occur there must be 4 things:
Answer:
1. two or more parties with unsatisfied needs. 2. a desire and an ability to satisfy these needs. 3. a way
for the parties to communicate. 4. something to
exchange.
Question 3:
What are the 5
environmental forces
Answer:
1. Social 2. Economic 3. Competitive 4. Technological
5. Regulatory
Question 4:
The essence of successful marketing and gaining loyal customers is for firms
to focus on:
Answer:
providing customer value
Question 5:
the belief that organizations are accountable to a larger society for their actions
Answer:
Social Responsibility
Question 6:
An organizations long term course of action designed to deliver a unique customer experience while
achieving its goals is the
Answer:
Strategy
Question 7:
In an organization, the
overseas the corporate level
, Answer:
Board of Directors
Question 8:
Visual computer display of the essential information related to achieving a marketing objective
Answer:
Marketing Dashboard
Question 9:
The horizontal axis of the BCG analysis model is
Answer:
the relative market share
Question 10:
The vertical axis of the BCG analysis model is
Answer:
the market growth rate
Question 11:
Developing new products and selling them in to new markets (Bud Light Ritas)
Answer:
Diversification
Question 12:
SWOT analysis should be performed during which part of the strategic marketing process?
Answer:
The situational analysis step of the planning phase
Question 13:
Characteristics of a product that make it superior to competitive substitutes
Answer:
Points of difference
Question 14:
Distribution is the only important element of the marketing mix in which type of competitive
environment?
Answer:
Pure Competition
