UCSB COMM 166 MIDTERM EXAM QUESTIONS & ANSWERS 2023/2024
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UCSB COMM 166
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UCSB COMM 166
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), ...
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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