NUSC 4272 Exam Practice Questions with Correct

pg. 1 NUSC 4272 Exam 1/ 100 Practice Questions with Correct Verified Answers – Latest Update 2024.

Marketing overview - ANSWER - Consists of individual & organizational activities that facilitate and expedite satisfying exchange relationships in a dynamic environment through the creation, distribution, promotion, and pricing of goods, services, and ideas

• American Marketing Association
• Efficient and fair system which directs an economy's flow of goods from producers to consumers and

accomplishes the objectives of society

• Need to satisfy both the customer's needs and the company's objectives
• 40 - 60% of consumer $'s goes toward marketing activities

• levels of marketing - ANSWER - Macro-Marketing and Micro-Marketing
• Macro looks at the economy's entire marketing system
• Micro looks at individual company

Macro-marketing - ANSWER - Objective to create goods & services & make them available when & where they are needed

• Economy = Producers + Consumers

- Producers: concerned with their income & production

- Consumers: concerned with what you can buy with your $

Free market economy - ANSWER - Market driven, "Capitalism", Price is a measure of value and fluctuates so both producers & consumers are happy

• Consumers decide what to purchase & therefore affect production
• What is someone willing to pay?

Other economies? - ANSWER - - Russia has mixed economy 1 / 3

pg. 2

• China has a socialist market economy

Law of Diminishing Demand - ANSWER - Consumer

• if the price of a commodity is raised; a smaller quantity will be demanded
• if the price of a commodity is lowered; a greater quantity will be demanded

Late 1800s/Industrial Revolution - ANSWER - - Beginning of mass production & marketing

• Products made more economically
• Focus of distribution

1920s - ANSWER - Advertising & Sales focus- differentiating products

1950s - ANSWER - - Marketing dept.

• Consumer research
• Advise mgmt of how to design, price, distribute & promote

Marketing today - ANSWER - - Customer satisfaction: customer's positive, neutral, or negative feelings about the value received from a product

• Customer loyalty: refers to the frequency with which a customer consistently purchases a specific brand

Ethics of marketing - ANSWER - - A Code of Ethics: Rules for standards of professional behavior, based on relationships within businesses and professional organizations

- Standards of Practice: Measure of what is expected to happen

Ethical Conduct - ANSWER - - Priority of an organization

• Through proper planning, organizing, staffing, leading, and controlling ensure that ethical conduct is

followed

• Academy of Nutrition and Dietetics Code of Ethics (AND Code of Ethics)
• Sponsorship (Advertising and Sponsorship)
• / 3

pg. 3 Different marketing concepts - ANSWER - Management philosophy of how a company views customers and the sale of their products (goods, services, ideas)

• Manufacturing/production concept: available & affordable; concentrate on production & distribution

efficiency

• Product concept: customers prefer existing product, should focus on improvement (Kotler, Bowen, &

Makens, 1999)

- Selling concept: need a large selling & promotion effort

• Societal marketing concept: organization determines needs and wants and co. needs to deliver these to

improve consumer's & society's well-being (social marketing)

Who's involved in marketing? - ANSWER - - Producers

• Sellers
• Buyers
• Due to ↑ costs in noncommercial foodservice, now marketing
• Must be competitive

Social vs. Business marketing - ANSWER - - Social: marketing to advance a cause, change a behavior

- Business: fills customer needs or desires

Need for marketing - ANSWER - - Just because have a good product does not mean that it will sell

• Marketing encourages this need
• Must look at both the product & the marketing system
• Sustainability, plant-based/vegan options, curbside and drive-thru, smart tech solutions, mobile

ordering (employee shortages)

• Secret menus

Top Seven - ANSWER - (1) (Super)-Size does matter (2) Fish and chicken don't always deserve their healthful rep (3) Download the (nutritional) lowdown (4) Go green

• / 3