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BMAL 590 – Marketing Exam
Questions and Answers 100% Pass
Marketing - ✔✔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
Classical Marketing Concept - ✔✔A philosophy which guides the attitude of everyone in a firm to
stimulate and satisfy the needs and wants of every customer
Competitive Marketing Strategy - ✔✔involves product strategy, pricing strategy, integrated marketing
communications, channels, and logistics strategy. It needs to offer value to the target market, that is
defined by marketing, so that the business may focus on those selected markets
The 5 C's - ✔✔Customers, Company, Competitors, Collaborators, Context
STP - ✔✔Segmentation, Targeting, Positioning
The 4 P's - ✔✔Product, Price, Place, Promotion
Customer and Company - ✔✔the central players in the marketing exchange
Context - ✔✔includes the macro-environment: the economy, legal constraints, cultural differences, and
global segments
Marketer's Responsibilities - ✔✔Create a product that customers need or want, price the product
appropriately, promote it via advertising and sales promotion to help customers understand the
product's benefits and value and make the product available for purchase in accessible places
B2C - ✔✔business to consumer
Author. Emily Charlene, ©2025 All Rights Reserved.
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B2B - ✔✔business to business
Consumer buying - ✔✔People buying something for themselves or their household
Business customer - ✔✔An agent buying something on behalf of an organization
Low Customer Involvement - ✔✔Customers don't care and won't spend time thinking about brands.
They will typically be somewhat price sensitive.
Moderate Customer Involvement - ✔✔Some effort is expended prior to purchase to obtain good value.
High Customer Involvement - ✔✔For expensive purchases, brand, uniqueness and quality matter.
Lexicographic method - ✔✔A customer compares brands by most important attributes or dimensions.
The brand that satisfies the first dimension goes into the customer's consideration set
Average method - ✔✔Method uses averages so one attribute can't make or break a brand. One brand can
have one strong attribute but be average for another. The brand will still dominate a brand with all
average attributes.
Use attribute importance - ✔✔Models can be made more complex by bringing in weights to express how
important the attributes are to the customer.
Factors that influence customer behavior - ✔✔External - opinion leaders, culture, social class
Internal - attitudes, motivations, perceptions
Situational - physical environment, purpose of purchase, time constraints
Types of B2B Customers - ✔✔installations, accessories, raw materials, parts or, business services
Author. Emily Charlene, ©2025 All Rights Reserved.
