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UCSB COMM 166 MIDTERM EXAM QUESTIONS & ANSWERS 2023/2024
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UCSB COMM 166 MIDTERM EXAM QUESTIONS & ANSWERS 2023/2024 Definition of marketing - ANSWER-*the process of developing, promoting, and distributing products, or goods and services, to satisfy customers' needs and wants* Marketing is the activity, set of institutions (orgs that are involved), ...

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  • August 23, 2023
  • 22
  • 2023/2024
  • Exam (elaborations)
  • Questions & answers

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  • ucsb comm 166 midterm

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  • UCSB COMM 166
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UCSB COMM 166 MIDTERM EXAM
QUESTIONS & ANSWERS 2023/2024

Definition of marketing - ANSWER-*the process of developing, promoting, and distributing products, or
goods and services, to satisfy customers' needs and wants*



Marketing is the activity, set of institutions (orgs that are involved), and processes for creating,
communicating, delivering, and exchanging offerings *that have value* for customers, clients, partners,
and society at large.



what is the product/selling approach? - ANSWER-*businesses developed products and then tried to sell
products* that:

1. were *easiest or most cost effective* for the manufacturer

2. *packaged and distributed for the ease* of the manufacturer

3. *deemed best* for consumers



--> this means selling was a matter of *convincing consumers and businesses to buy* often with
aggressive tactics



what is the goal of product/selling approach? - ANSWER-to *make a sale* and *convince consumers and
businesses to purchase products* with aggressive tactics

- not much conversation



what is the marketing/orientation approach? - ANSWER-- You *conduct research to discover consumer
and business needs*

Related to:

1. product

2. price

3. place

4. promotion

,- back and forth conversation



what is the goal of the marketing approach? - ANSWER-is *developing* long term *relationships* with
customers

--> brand loyalty



marketing/orientation approach strategies - ANSWER-*1. initial and continuing market research*



*2. monitor the environment*

-Monitoring what is going on around us

Society

Economy

Politics

Competition



*3. look for ways to innovate the product*

- How are we going to improve our product

What technologies are available to make our product better and more reliable



*4. monitor customer feedback*

- What people are saying about the product

The suggestions that customers have

Customers are a great source of information about your product



*5. revise the strategy as necessary*



what are the organizational mission statements - ANSWER-they determine the company's direction by
asserting:

, 1. *target audience to be reached*

2. *key consumer benefit*

3. *objective or purpose of the communication message*



What are the four organizational growth strategies as described in your reading and lecture?



Be prepared to identify each. - ANSWER-1. market penetration

2. market development

3. product development

4. diversification



1. market penetration strategy (increasing the volume) - ANSWER-- using the *4 P's to increase the
volume of your sales*

- promotional strategy

--> *using the product in more and different ways so they buy the product more*

ex: orange juice is not just for breakfast



2. market development strategy (getting/encouraging more people to buy) - ANSWER-market the
product to women AND men

ex: dove products



3. product development strategy (improving the product) - ANSWER-making a 2.0 version of the product,
it gets people to buy their product more

ex: iphones



4. Diversification Strategy (different product) - ANSWER-Opportunities for *different varieties of the
product*

--> Example: *Pepsi* but then over the course of the years they have

*diversified by selling waters, snacks, and juice*

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