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MKTG 3213: Exam 1 (OSU)questions and answers graded A+ (7)
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MKTG 3213: Exam 1 (OSU)questions and answers graded A+ (7)
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MKTG 3213: Exam 1 (OSU)questions andanswers graded A+ (7)
What is marketing? - correct answer ✔✔MARKETING IS EXCHANGE
What is bartering? - correct answer ✔✔trading without using money
"If it is an exchange, it is marketing" - correct answer ✔✔True
What is the evolution of markets? - correct answer ✔✔Self sufficient, Decentralized exchange,
Centralized exchange
What is marketing management? - correct answer ✔✔Setting marketing goals, planning, and execution
of activities.
What are the 6 P's of Marketing? - correct answer ✔✔Product, Price, Place, Promotion, Process, People
Who does marketing? - correct answer ✔✔For-profit, Non-profit, Government entities
"Everyone is a marketer" - correct answer ✔✔True
What is the marketing concept? - correct answer ✔✔focuses on identifying and satisfying consumer
needs to ensure long term profitability
What are the parts of the selling concept? - correct answer ✔✔Starting point: company
Focus: existing products and services
Outcome: Profits through sales volume
, What are the parts of the marketing concept? - correct answer ✔✔Starting point: Market
Focus: Customer needs
Outcome: Profits through customer satisfaction
What does the marketing concept recognize? - correct answer ✔✔People buy solutions to their
problems
What is a need? - correct answer ✔✔Difference between a consumers actual state and some ideal state.
What is the PSSP Hierarchy? - correct answer ✔✔Personal, Social, Safety, Physiological
Marketers can create needs. - correct answer ✔✔False
What is a want? - correct answer ✔✔Desire to satisfy
What is a pain point? - correct answer ✔✔A problem faced by a (potential) customer.
What is the consumption chain? - correct answer ✔✔Sequence of stages that compromise the
customer's experience with a product or service.
What is at the center of a product/service bundle? - correct answer ✔✔Core Benefits
What are 3 approaches to analytics? - correct answer ✔✔Flying blind, Pseudo, and Real Deal
What are the steps of the Marketing Analytics Process? - correct answer ✔✔Identify the right metrics,
Analyze the metrics, Take improvement actions
Where is Business Intelligence in data analytics? - correct answer ✔✔Internal- internal
Where is Competitive Intelligence in data analytics? - correct answer ✔✔Internal- External
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