CSUF Study guides, Class notes & Summaries

ACTUAL 2024 CSUF Bus Mktg 351 Exam 1 Review Questions(Chapter 1-7 (Review Questions))With 100% Correct Answers. Chapter 1: Introduction to Marketing Question 1: Q: Define marketing and explain its importance in business. A: Marketing is the process of creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. It is essential for businesses as it helps create awareness, attract customers, and ultimately drive sale...

If a car company releases an affordable model, but the vehicle is only available in white, would it be successful in today's market? a. No, because consumers have specific wants b. Yes, the vehicle will be affordable c. No, white color is not appealing d. Yes, there is always a market for any product - correct answer -a. No, because consumers have specific wants What is the American Market Association's definition of marketing? a. The activity, set of institutions, and processes for cr...

What factors influence consumer behavior? - correct answer -1. Cultural 2. Social 3. Personal 4. Psychological Cultural Factor - correct answer -Come from society as a whole / the culture in which we live (ex. - United States, California, Orange County, Fullerton) Includes Cultural, Subcultural, and Social Class influences Social Factor - correct answer -"Interaction influence" Includes the three types of Reference Groups: 1. Aspirational 2. Associative 3. Dissociative A...

marketing - correct answer -the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large exchange - correct answer -people giving up something in order to receive something they would rather have production orientation - correct answer -a philosophy that focuses on the internal capabilities of the firm rather than on the desires and needs of the marketplace sales ...

marketing - correct answer -the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large exchange - correct answer -people giving up something in order to receive something they would rather have production orientation - correct answer -a philosophy that focuses on the internal capabilities of the firm rather than on the desires and needs of the marketplace sales ...

Promotional Mix - correct answer -1) advertising 2) public relations 3) sales promotions 4) personal selling 5) social media promotion - correct answer -Communication by marketers that informs, persuades, and reminds potential buyers of a product in order to influence an opinion or elicit a response promotional strategy - correct answer -a plan for the optimal use of the elements of promotion to elicit a particular response; main goal is to convince buyers that the products offer compe...

Production Orientation - correct answer -A philosphy that focuses on the internal capabilities of the firm rather than on the desires and needs of the marketplace Sales Orientation - correct answer -People will buy more goods and services if aggressive sales techniques are used and that high sales result in high profits Market Orientation - correct answer -Social and economic justification for an organization's existence is the satisfaction of customer wants and needs while meeting organi...

What is advertising? - correct answer --a popular form of promotion Why do new brands w/small market share tend to spend more for advertising and sales promotion? - correct answer --a certain minimum level of exposure is needed to measurably affect purchase habits -after certain level of spending, diminishing returns set in Define advertising response function. - correct answer -spending for advertising and sales promotion increases sales or market share, up to a certain level, but then p...

If a car company releases an affordable model, but the vehicle is only available in white, would it be successful in today's market? a. No, because consumers have specific wants b. Yes, the vehicle will be affordable c. No, white color is not appealing d. Yes, there is always a market for any product - correct answer -a. No, because consumers have specific wants What is the American Market Association's definition of marketing? a. The activity, set of institutions, and processes for cr...

What factors influence consumer behavior? - correct answer -1. Cultural 2. Social 3. Personal 4. Psychological Cultural Factor - correct answer -Come from society as a whole / the culture in which we live (ex. - United States, California, Orange County, Fullerton) Includes Cultural, Subcultural, and Social Class influences Social Factor - correct answer -"Interaction influence" Includes the three types of Reference Groups: 1. Aspirational 2. Associative 3. Dissociative A...