Marketing Principles Chapter 4
Showing posts with label Marketing Principles Chapter 4. Show all posts
Showing posts with label Marketing Principles Chapter 4. Show all posts

______ involves the activities of selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets.

______ involves the activities of selecting and describing one or more target markets and developing and maintaining a marketing mix that will produce mutually satisfying exchanges with target markets.



a. Portfolio matrix
b. Environmental scanning
c. Environmental scanning
d. Marketing strategy


Answer: d. Marketing strategy

Which of the following best defines marketing myopia?

Which of the following best defines marketing myopia?



a. Collecting and interpreting information from long-term events
b. Stating a firms business based on careful analysis of existing and anticipated environmental conditions
c. Defining a business in terms of goods rather than the benefits customers seek
d. Focusing on delivering value rather than quality products


Answer: c. Difining a business in terms of goods rather than the benefits customers seek

The mechanisms for evaluating marketing results in light of the plan's objectives and for correcting actions that do not help the organization reach those objectives within budget guidelines are provided by _________.

The mechanisms for evaluating marketing results in light of the plan's objectives and for correcting actions that do not help the organization reach those objectives within budget guidelines are provided by _________.



a. distribution
b. customer analytics
c. customer analytics
d. control


Answer: d. control

The provision of something that is unique and valuable to buyers beyond simply offering a lower price than that of the competition provides the firm with a _________.

The provision of something that is unique and valuable to buyers beyond simply offering a lower price than that of the competition provides the firm with a _________.



a. cost competitive advantage
b. production competitive advantage
c. product differentiation competitive advantage
d. niche competitive advantage


Answer: c. product differentiation competitive advantage

The best marketing tactic for a star SBU is to

The best marketing tactic for a star SBU is to



a. maintain market dominance by being the price leader.
b. to harvest the meager returns or divest the SBU.
c. protect the existing market by reinvesting earnings.
d. invest heavily to gain a better market share or drop the SBU.


Answer: c. protect the existing market by reinvesting earnings.

A product development strategy entails:

A product development strategy entails:



a. attracting new customers to existing products.
b. introducing new products to new markets to increase sales.
c. increasing the market share among present customers.
d. creating new products for present markets.


Answer: d. creating new products for present markets

Which of the following best defines marketing myopia?

Which of the following best defines marketing myopia?



a. Defining a business in terms of goods rather than the benefits customers seek
b. Collecting and interpreting information from long-term events
c. Focusing on delivering value rather than quality products
d. Stating a firms business based on careful analysis of existing and anticipated environmental conditions


Answer: a. Defining a business in terms of goods rather than the benefits customers seek.

The description and estimation of the size and sales potential of market segments that are of interest to the firm and the assessment of key competitors in these market segments is known as _________.

The description and estimation of the size and sales potential of market segments that are of interest to the firm and the assessment of key competitors in these market segments is known as _________.



a. market opportunity analysis
b. SWOT analysis
c. logit analysis
d. perceptual mapping analysis



Answer: a. market opportunity analysis

The unique blend of product, place (distribution), promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market is known as a _________.

The unique blend of product, place (distribution), promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market is known as a _________.



a. vertical integration plan
b. promotional mix
c. marketing mix
d. vertical integration plan


Answer: c. marketing mix

A product development strategy entails:

A product development strategy entails:



a. attracting new customers to existing products.
b. increasing the market share among present customers.
c. introducing new products to new markets to increase sales.
d. creating new products for present markets.


Answer: d. creating new products for present markets

If an SBU is a very successful cash cow, a key goal would be to:

If an SBU is a very successful cash cow, a key goal would be to:



a. acquire competitors to increase market share.
b. hold the market share to generate revenues.
c. sacrificing short term profits in order to build the SBU.
d. divesting the SBU to prevent long-term losses.


Answer: b. hold the market share to generate revenues
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