MCS 1000 Final Exam Question and answers 100% correct
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Module
MCS 1000
Institution
MCS 1000
MCS 1000 Final Exam Question and answers 100% correct
Marketing - correct answer activity of creating, communicating, delivering and exchanging offerings that benefit the organization, its stakeholders and society at large
1. Two or more parties with unsatisfied needs
2. desire and abili...
MCS 1000 Final Exam Question and
answers 100% correct
Marketing - correct answer ✔activity of creating, communicating, delivering
and exchanging offerings that benefit the organization, its stakeholders and
society at large
1. Two or more parties with unsatisfied needs
2. desire and ability on their part to be satisfied
3. a way of parties to communicate
4. something to exchange - correct answer ✔requirements for marketing to
occur
Market - correct answer ✔people with the desire and ability to buy specific
product
Social Marketing - correct answer ✔designed to influence the behaviour of
individuals in which the benefits od those behaviour accrue to those
individuals or to society in general and not to the marketer
Ultimate consumers - correct answer ✔all people who use the goods and
services purchased for a household
organizational buyers - correct answer ✔maufacturers, wholesalers,
retailers, and government agencies that buy goods and services for their own
use
target market - correct answer ✔one or specific groups of potential
consumers towards which an organization directs its marketing program
,1. Product
2. Price
3. Promotion
4. Place - correct answer ✔4 P's of Marketing
Marketing mix - correct answer ✔marketing actions of 4 Ps, that he or she
can take to create, communicate and deliver value
environmental forces - correct answer ✔uncontrollable factors involving
social , economic, technological, competitive and regulatory forces
marketing program - correct answer ✔a plan that integrates the marketing
mix to provide a good or service, or idea to prospective buyers
Production Era - correct answer ✔-central notion was products would sell
themselves
Sales Era - correct answer ✔-more goods made than consumed
-competition grew
-more sales people hired
Marketing concept (era as well) - correct answer ✔idea that an organization
should strive to satisfy the needs of consumers, while also trying to achieve
goals
Marketing orientation (era as well) - correct answer ✔1. continuously
collecting information about customers
,2. sharing this information throughout the organization
3. using information to create value
customer value - correct answer ✔unique combination of benefits received
by the customer that include quality, price, convenience, on time delivery and
both before-sale and after sale service
customer satisfaction - correct answer ✔match between customer
expectations of the product and the product's actual performance
customer relationship management - correct answer ✔process of devleoping
long term relationships
customer lifetime value - correct answer ✔profit generated by the customer's
purchase of an organziations product or service over customers life time
eCRM - correct answer ✔a web-centric personailized approach to managing
long term customer relationships electronically
interactive marketing - correct answer ✔involves two way buyer seller
electronic communication in which the buyer can control the kind and amount
of information received from the seller
customer experience management - correct answer ✔managing the
customers interactions with the organization at all levels
social media marketing - correct answer ✔consumer generated online
marketing efforts to promote brands and companies for the ones they like
, social CRM - correct answer ✔the use of social media to enable
organizations to engage customers in collaborative conversations for mutually
beneficial value
ethics - correct answer ✔the moral principles and values that govern the
actions and decisions of individual or group
social responsibility - correct answer ✔individuals and organizations are part
of a larger society and are accountable to that society for their actions
societal marketing concept - correct answer ✔view that an organization
should discover and satisfy the needs of its consumers in a way that also
provides for society's well being
macromarketing - correct answer ✔aggregate flow of a nation's goods and
services to benefit soceity
micromarketing - correct answer ✔how and individual organization directs its
marketing activities and allocates its resources to benefit its customers
consumer behaviour - correct answer ✔actions that a person takes in
purchasing and using products and services, including the mental and social
processes that precede and follow these actions
purchase decision process - correct answer ✔stages a buyer passes through
in making choices about which products and services to buy
5 stages of purchase decision process - correct answer ✔1. problem
recognition
2. information search
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