2025/2026 BUS 203 PRINCIPLES OF MARKETING SAYLOR ACADEMY FINAL EXAM

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2025/2026 BUS 203 PRINCIPLES OF MARKETING - SAYLOR ACADEMY FINAL EXAM ACTUAL QUESTIONS AND 100% CORRECT ANSWERS The feature specifications process begins with a strong understanding of which of the following? a. What risks are involved b. What consumers want and need c. What opportunity costs are entailed d. Potential cost of production - Answer -b. What consumers want and need In the idea screening stage, companies evaluate new offerings by determining which of the following? a. What the features of the product will be b. If the product works like it is supposed to c. If the product fits with the image and corporate strategy d. If the product costs more during idea generation than expected - Answer -c. If the product fits with the image and corporate strategy What kind of approach to business suggests that the best way to compete is through product innovation and production cost reduction? a. Market-oriented b. Product-oriented c. Selling-oriented d. Customer-oriented - Answer -b. Product-oriented Advertising, public relations, personal selling, and direct marketing are examples of which aspect of the marketing mix? a. Place b. Price Need assistance on Online classes, Exams & Assignments? Reach out for instant help!! Full Course Assistance, Plagiarism-free Essay Writing, Research Paper, Dissertation, Discussion Posts, etc…. Confidential & Secure services. Tutors are available for all subjects! Email now at: tutorjean01@gmail.com c. Product d. Promotion - Answer -d. Promotion Which of the following is a banner on a website an example of? a. Publicity b. Advertising c. Promotions d. Marketing - Answer -b. Advertising When companies set their promotion budgets, which method uses the previous year's percent of sales? a. Simplest method b. Affordable method c. Promotional method d. Competitive parity method - Answer -a. Simplest method Which of the following statements about the marketing mix is true? a. The marketing mix elements each play a different role b. The marketing mix is developed prior to developing objectives c. The marketing mix is not dependent on other strategic activities d. The marketing mix must include the customer - Answer -a. The marketing mix elements each play a different role Which element of a marketing strategy enables a company to make the most of their strengths and match them to the needs of their customers? a. Execution b. Promotion c. Segmentation d. Targeting - Answer -d. Targeting What components are essential when developing a strategic plan? a. Selection, analysis, design b. Research, mission, objectives Need assistance on Online classes, Exams & Assignments? Reach out for instant help!! Full Course Assistance, Plagiarism-free Essay Writing, Research Paper, Dissertation, Discussion Posts, etc…. Confidential & Secure services. Tutors are available for all subjects! Email now at: tutorjean01@gmail.com