MKT 2400 Exam Actual Questions With Correct Detailed Answers.
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Course
BUSI 2400
Institution
BUSI 2400
Need - correct answer consumer's desire to get a functional utility out of an offering, gain the benefit of the item
Wants - correct answer desire for offerings or benefits that are not necessary
What is marketing? - co...
Need - correct answer consumer's desire to get a functional utility out of an
offering, gain the benefit of the item
Wants - correct answer desire for offerings or benefits that are not necessary
What is marketing? - correct answer Marketing is 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.
Four P's of Marketing - correct answer Product, Price, Place, Promotion
value based marketing - correct answer implementing a marketing strategy
according to what customers value
Value-Driven Marketing - correct answer create meaningful value for customers
sustainable competitive advantage - correct answer an advantage that cannot be
copied by the competition and can be maintained over an extended period
Positioning - correct answer Arranging for a product to occupy a clear, distinctive,
and desirable place relative to competing products in the minds of target consumers
SBU - correct answer strategic business unit, a subgroup of a single business or
collection of related businesses within the larger organization
, product development - correct answer offers a new product or service to a firm's
current target market
Marketing Planning Process - correct answer 1) Situation Analysis
2) Strategy Development
3) Marketing Program Development
4) Implementation
4 E Framework - correct answer Excite, Educate, Experience, Engage
Macroevironment - correct answer the larger societal forces that affect the
microenvironment - demographic, economic, natural, technological, political, and cultural forces
Cultre - correct answer shared meanings, beliefs, morals, values, and customs of a
group of people
Demographics - correct answer statistical data relating to the population and
particular groups within it.
Psychographics - correct answer the use of psychological, sociological, and
anthropological factors to construct market segments
generational cohort - correct answer A group of people of the same generation—
typically have similar purchase behaviors because they have shared experiences and are in the same
stage of life.
Greenwashing - correct answer A practice in which companies promote their
products as environmentally friendly when in truth the brand provides little ecological benefit.
performance risk - correct answer involves the perceived danger inherent in a
poorly performing product or service
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