Marketing Exam Questions
Student’s name
Institutional affiliations

1. A company that choses to use the value approach will focus more on delivering value to the customer whereas one that uses the 4ps will focus more on the product. For the two companies steps will almost be the same only that the one using the value approach offering more. For instance the value approach goes beyond availing the product but ensures the customer understand the product and gets the most of the product. The 4Ps approach promotes and advertises the product, while the value approach goes beyond that and offers – the value, product plus service, benefit, and enjoyment that can be received with the product. 2. Just like the four Ps this start with the creation of product that has value and then communicate/promote the offering by describing it and gather consumer opinion. Delivering is similar to place whereby you now take the created product to the consumer for them to purchase. Exchanging is when you now trade value for the product or what the 4Ps calla price. 3. a) Marketing creates goods and services that a company can offer to its consumers at a price. The price, the goods and the services constitute the company’s offering
b) Marketers educate potential consumers about the value of what they are offering as well as gathering their opinion on whether they want the offering.
c) Marketing cannot just promise value it should be able to get the product to into the hands of the consumer and ensure he or she knows how to get the most out of the product
d) This is the transaction part where the consumer can pay cash for the product, or pay through other cashless means. 4. Yes all students should learn about marketing. This is because everywhere they go they will have to communicate their value to potential employers. During the interviews they should be able to sell