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BMAL 590-Foundations of Marketing EXAM TEST QUESTIONS AND ANSWERS VERIFIED LATEST UPDATE (A PASS) £10.47
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BMAL 590-Foundations of Marketing EXAM TEST QUESTIONS AND ANSWERS VERIFIED LATEST UPDATE (A PASS)
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  • BMAL 590
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  • BMAL 590

BMAL 590-Foundations of Marketing EXAM TEST QUESTIONS AND ANSWERS VERIFIED LATEST UPDATE (A PASS) What is marketing? - It is involved in designing products that customers will enjoy, pricing them appropriately, making them available for purchase at easy points of access in the marketplace, and...

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  • December 27, 2024
  • 28
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • bmal 590 foundations of marketing exam test questi

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  • BMAL 590
  • BMAL 590

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KatelynWhitman

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BMAL 590-Foundations of Marketing
EXAM TEST QUESTIONS AND
ANSWERS VERIFIED LATEST
UPDATE (A PASS)

What is marketing? - ✔✔It is involved in designing products that customers will enjoy, pricing them

appropriately, making them available for purchase at easy points of access in the marketplace, and

advertising the products' benefits to the customers.


5 C's - ✔✔customer, company, context, collaborators, competitors


STP - ✔✔Segmentation, Targeting, Positioning


4 P's - ✔✔Product, Price, Place, Promotion


How is marketing an exchange relationship? - ✔✔The customer seeks benefits from the company and

expects to pay.




The company offers benefits to its customers and seeks profits.


Why is marketing important? - ✔✔Enriches society, can be entrepreneurial, expands global presence,

strengthens channel relationships




Katelyn Whitman© 2025, All Rights Reserved.

,2|Page


Marketing has evolved from a function to an organization-wide philosophy




The marketing world is a truly customer-oriented and customer-empowered world where the goal is to

build and maintain relationships with the customer


What is a market? - ✔✔The aggregate of all people or organizations who have a need for, or want, a

product or class of products and have the money to pay for them. It is sometimes used to mean a place,

real or virtual, where buyers and sellers meet to buy or sell goods




Markets may be segmented by characteristics of the buyer


What is the 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


What is a competitive marketing strategy? - ✔✔It 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


5 C's (expanded) - ✔✔Customers: Who are they? What are they like? Do we want to draw different

customers?




Company: What are our strengths and weaknesses? What customer benefits can we provide?




Context: What is happening in our industry that might reshape our future business?




Katelyn Whitman© 2025, All Rights Reserved.

, 3|Page


Collaborators: Can we address our customers' needs while strengthening our business to business (B2B)

partnerships?




Competitors: Who are the competitors we must consider? What are their likely actions and reactions?


STP (expanded) - ✔✔Segmentation: Customers aren't all the same; they vary in their preferences, needs,

and resources.




Targeting: Attracting some of those customers makes better sense than going after others.




Positioning: Communicate your benefits clearly to your intended customers.


4 P's (expanded) - ✔✔Product: Will customers want what your company is prepared to produce?




Price: Will customers pay what you would like to charge?




Place: Where and how will customers purchase your market offering?




Promotion: What can you tell your customers, or do for them, to entice them to purchase?


Customer behavior - ✔✔The way customers select, purchase, use, and dispose of goods, services, ideas,

or experiences to satisfy their needs and desires




Katelyn Whitman© 2025, All Rights Reserved.

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