USC BUAD 307 Midterm 1 Questions And Answers
With Real Tests
What are the seven building blocks of marketing? ANS corporate image, positioning, product,
distribution, promotion, price, marketing information systems
What are Marketing information systems? ANS system to collect, analyze, report take action on
information from marketplace
What is Corporate image? ANS image of organization, division, or individual; need to create,
protect, enhance this image
What is Positioning? ANS lock (group of people called target audience who have an unfilled
need for a type of product) & key (creating image of the product to fill this unfilled need)
What is Product in terms of the 7 building blocks? ANS goods/services developed to meet the
demands of market targets & to achieve goals of marketing plan
What is Price in terms of the 7 building blocks? ANS amount of money buyers are willing to pay
vs amount seller is willing to sell for
What is Distribution? ANS making it easy for buyers to buy your goods
What is Promotion? ANS communicate benefits of complete product to instil buying action
(complete product is not just product, it also contains the framework the product is created
in/distributed to)
What is SWOT? ANS strength, weakness, opportunity, threats
What does the universal marketing structure map say to include on an advertisement? ANS
headline, body text, close, photos/graphics, good format, signature
, What does the UMS say about the headline? ANS should contain main points, unique benefit,
hook, name of company
What does the UMS say about the body text? ANS contains details, only 16% of people read this
section
What does the UMS say about the close? ANS solicit buying action, tie with headline, end
communication and contain marketing information system code to track user behavior
What does the UMS say about the photos/graphics? ANS help communicate main unique benefit,
visually compelling, make product look good, break up text into smaller pieces
What does the UMS say about the format? ANS make it easier for people to pick out and
remember main and unique benefits; let people get benefits without reading entire ad
What does the UMS say about the signature? ANS name, logo, slogan, to identify the
communication
What are the main elements of a marketing plan? ANS goals, strategies, measure performance,
take corrective action
What does the marketing plan structure contain? ANS need, mission, traack record/history,
current situation, definition of market, business revenu emodel, market potential, limiting factors,
goals, marketing strategies, sales forecast, budget timeline, future & conclusion
What are the steps of the new product development system? ANS Idea generation, Screen those
ideas, Develop prototype, Market test, New product introduction
What do you look at in the old product elimination system? ANS Return on investment, Revenue
threshold
What is Corporate Image? ANS perception in the minds of your target audience
