MKTG 201 (with Answers)

Marketing correct answers The activity, set of institutions, and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large. Marketing entails an... correct answers Exchange 4 P's of marketing c...

5 trends that have influenced the landscape of global marketing correct answers 1.) decline of economic protectionism -tariffs and quotes discouraging world trade 2.) rise of economic integration -transnational trade groups---> EU & NAFTA 3.) global competition among global companies for ...

Marketing Research Process correct answers 1. Defining objectives and research needs 2. Designing research 3. Data collection process 4. Analyzing data and developing insights 5. Action plan and implementation Secondary data correct answers pieces of information that have already been collect...

Segmentation correct answers the process of grouping customers into relatively homogeneous sets such that customers within a segment are similar to one another in the way they respond to the marketing effort directed at them (who could we exchange with?) Targeting correct answers Who should we ex...

Market segmentation is the process of grouping customers into relatively homogeneous sets or segments such that customers within a segment are similar to one another in: A. Age and psychographics B. Family and cultural situations C. Their frequency of purchase D. The way they respond to the mark...

BCG Growth Model correct answers Stars, Cash cows, question marks, dogs Path to Profitability correct answers Marketing Environment, Marketing mix, capture value, profits Brand Champions/Love Group correct answers The group that supports your company and the products in it Product Market Ex...

Love, Swing, Hate Groups correct answers • Firm helps the swing group see the issues/benefits via the eyes of the love group • Don't turn back from the love group • Swing group brings the biggest opportunity to the brand Geographic Segmentation correct answers • Regions, population, si...

BCG Growth Model correct answers Stars: High Market Growth Rate, High Market Share Ex: Amazon, Uber Cash Cows: Low Market Growth Rate, High Market Share Ex: Coca Cola Question Marks: High Market Growth Rate, Low Market Share Ex: Tesla Dogs: Low Market Growth Rate, Low Market Share Ex: ...

gross income correct answers total amount in one year disposable income correct answers money left after taxes for necessities such as food, housing, clothings, transportation Discretionary income correct answers Money left after taxes and necessities Power of buyers correct answers they ca...

What is a Product? correct answers anything that is of VALUE to a consumer and might satisfy a WANT or NEED thru MARKET EXCHANGE 2 main types of product correct answers physical objects (goods) and services other types of product correct answers organization, ppl, places, ideas what is a se...

Marketing creates, communicates, and delivers value to the firm's chosen customers. This enables the firm to attract and keep customers. Attracting and keeping customers drive _____________ for the firm. A. Priced B. Profitability C. Promotion D. Product E. Place correct answers B. Profitabili...

Marketing Segmentation correct answers Process of grouping customers into relatively homogeneous segments Customers within a segment respond similarly to the marketing effort directed at them Criteria for Effective Segmentation correct answers Measurable Accessible Durable Substantial Uni...