MARK 3000 TEST 1 – MCMANUS Q&A latest Update

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MARK 3000 TEST 1 – MCMANUS | Q&A Latest 2025/2026 | 100% PASS Marketing - Answer -An organization function and a set of processes, for creating, capturing, communicating, and delivering value to customers Exchanges of Value - Answer --Value = ratio what is given up for what is obtained -Both parties must believe they are getting value for exchange to take place -Value is created through the marketing mix (4 Ps) 4 P's of Marketing Mix - Answer -Product: creating value Price: capturing value Place: delivering value Promotion: communicating value Product - Answer -Through a variety of offerings, including goods, services, and ideas; to satisfy customer needs Price - Answer -Price is everything a buyer gives up (money, time, energy) in exchange for the product; must be amount customer is willing to pay and which gives a profit Place - Answer -Place, or supply chain management; all activities needed to get the product to the right customer when the customer wants it