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NUSC 4272 Exam 1/ 100 Practice Questions with Correct Verified Answers – Latest Update 2024.
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NUSC 4272 Exam 1/ 100 Practice Questions with Correct Verified Answers – Latest Update 2024.
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NUSC 4272 Exam 1/ 100 Practice Questions with CorrectVerified Answers – Latest Update 2024.
Marketing overview - ANSWER - Consists of individual & organizational activities that facilitate and
expedite satisfying exchange relationships in a dynamic environment through the creation, distribution,
promotion, and pricing of goods, services, and ideas
- American Marketing Association
- Efficient and fair system which directs an economy's flow of goods from producers to consumers and
accomplishes the objectives of society
- Need to satisfy both the customer's needs and the company's objectives
- 40 - 60% of consumer $'s goes toward marketing activities
2 levels of marketing - ANSWER - Macro-Marketing and Micro-Marketing
- Macro looks at the economy's entire marketing system
- Micro looks at individual company
Macro-marketing - ANSWER - Objective to create goods & services & make them available when &
where they are needed
- Economy = Producers + Consumers
- Producers: concerned with their income & production
- Consumers: concerned with what you can buy with your $
Free market economy - ANSWER - Market driven, "Capitalism", Price is a measure of value and fluctuates
so both producers & consumers are happy
- Consumers decide what to purchase & therefore affect production
- What is someone willing to pay?
Other economies? - ANSWER - - Russia has mixed economy
pg. 1
,- China has a socialist market economy
Law of Diminishing Demand - ANSWER - Consumer
- if the price of a commodity is raised; a smaller quantity will be demanded
- if the price of a commodity is lowered; a greater quantity will be demanded
Late 1800s/Industrial Revolution - ANSWER - - Beginning of mass production & marketing
- Products made more economically
- Focus of distribution
1920s - ANSWER - Advertising & Sales focus- differentiating products
1950s - ANSWER - - Marketing dept.
- Consumer research
- Advise mgmt of how to design, price, distribute & promote
Marketing today - ANSWER - - Customer satisfaction: customer's positive, neutral, or negative feelings
about the value received from a product
- Customer loyalty: refers to the frequency with which a customer consistently purchases a specific brand
Ethics of marketing - ANSWER - - A Code of Ethics: Rules for standards of professional behavior, based on
relationships within businesses and professional organizations
- Standards of Practice: Measure of what is expected to happen
Ethical Conduct - ANSWER - - Priority of an organization
- Through proper planning, organizing, staffing, leading, and controlling ensure that ethical conduct is
followed
- Academy of Nutrition and Dietetics Code of Ethics (AND Code of Ethics)
- Sponsorship (Advertising and Sponsorship)
pg. 2
, Different marketing concepts - ANSWER - Management philosophy of how a company views customers
and the sale of their products (goods, services, ideas)
- Manufacturing/production concept: available & affordable; concentrate on production & distribution
efficiency
- Product concept: customers prefer existing product, should focus on improvement (Kotler, Bowen, &
Makens, 1999)
- Selling concept: need a large selling & promotion effort
- Societal marketing concept: organization determines needs and wants and co. needs to deliver these to
improve consumer's & society's well-being (social marketing)
Who's involved in marketing? - ANSWER - - Producers
- Sellers
- Buyers
- Due to ↑ costs in noncommercial foodservice, now marketing
- Must be competitive
Social vs. Business marketing - ANSWER - - Social: marketing to advance a cause, change a behavior
- Business: fills customer needs or desires
Need for marketing - ANSWER - - Just because have a good product does not mean that it will sell
- Marketing encourages this need
- Must look at both the product & the marketing system
- Sustainability, plant-based/vegan options, curbside and drive-thru, smart tech solutions, mobile
ordering (employee shortages)
- Secret menus
Top Seven - ANSWER - (1) (Super)-Size does matter
(2) Fish and chicken don't always deserve their healthful rep
(3) Download the (nutritional) lowdown
(4) Go green
pg. 3
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