1) Marketing helps create value for a product. T or F (1 point)

2) List 1 era of marketing (1 point)

__________________________________________

3) Name two of the general/main categories that we market (2 points)

I. ___________________________

II___________________________

4) When considering price, it is not necessary to consider the importance of the competitors price. (1 point)

T or F

5) Which of the following are channels of marketing? (1 point)

1. B2B
2. C2C
3. C2B
4. B2C
   1. All of the above
   2. 1 only
   3. 1 and 3 only
   4. 1, 2 and 4 only

6) Fill in the blank

Entrepreneurship is enhance by marketing and creates ________________. (2 points)

7) Promotion of a product primarily involves: (1 point)

1. Creating value for the product
2. Determining where the product will be sold
3. Focusing of the value of the product
4. Considering the competitors price

8) Provide a definition for Value (3 points)

________________________________________________________________________________

9) Price involves determining the minimum value at which the customer still feels satisfied while still making a profit. (1 point)

T or F

10) Products include actual goods, services, people and _______________ (1 point)

11) What does the W stand for in SWOT analysis? (1 point)

1. World
2. Wholesale
3. Wants
4. Weaknesses

12) Step 1 in the implementation phase of the strategic planning process involves all but which of the following? (1 point)

1. Segmentation
2. Conducting a SWOT of the market
3. Targeting the market
4. Positioning

13) Provide a definition for the term companys mission. (3 points)

__________________________________________________________

14) Which of the following are growth strategies? (1 point)

1. Market development strategy
2. Operational excellence strategy
3. Product excellence strategy
4. Diversification strategy
   1. 1 and 2 only
   2. None of the above
   3. 4 only
   4. 1 and 4 only

15) List the components of the marketing mix (4Ps) (4 points)

________________

________________

________________

________________

16) Product development strategy focuses on current markets and current products

T or F (1 point)

17) Fill in the blank

________________ is a strategy used by a firm to focus on the excellent services for the customer to retain loyal customers (1 point)

18) The control phase in the strategic planning process is a three step phase

T or F (1 point)

19) Define Market Penetration Strategy (2 points)

_____________________________________________________________

20) List the 3 phases in the strategic planning process (3 points)

__________________________

__________________________

__________________________

21) Define the term business ethics (3 points)

___________________________________________________________

22) The following are the steps for the framework for ethical decision making

1. Select a course of action
2. Identify the issues
3. Brainstorm alternatives
4. Gather information and identify who it affects

Pick the order within which they should be used (1 point)

1. 1, 2, 3, 4
2. 1, 3, 2, 4
3. 4, 1, 2, 3
4. 2, 4, 3, 1

23) Ethical Climate in a company refers to making sure that a company goes green (1 point)

T or F

24) Ethics are guided by society only (1 point)

T or F

25) It is not necessary to apply ethics to phase 1 of the strategic planning process but it is necessary to apply it to phases 2 and 3 (1 point)

T or F

26) Define social responsibility (2 points)

______________________________________________________________________________

27) List the two main sub environments when analyzing the market environment (2 points)

_________________________

_________________________