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MKT 315: Midterm Chapters 1 - 4. Questions & Answers.
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MKT 315: Midterm Chapters 1 - 4. Questions & Answers. MKT 315: Midterm Chapters 1 - 4. Questions & Answers.
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MKT-315 Midterm Chapters 1 -4
Chapter
1
Marketing:
the activity, set of institutions, and processes for creating, communicating,
delivering, and exchanging offerings that have value for customers, clients,
partners, and society at large
Marketing Concept:
the business orientation model that involves creating value and satisfying
consumer needs
Marketing Mix:
consists of four elements: product, place, price, and promotion, also called the 4 Ps
Marketing Plan:
a tool used to set up various elements of a company's marketing strategies
and develops an accompanying tactical plan
Marketing Strategy:
describes what the business wants to achieve in its marketing efforts
SWOT Analysis
a tool an organization uses to analyze its strengths, weaknesses, opportunities,
and threats
What is the process that determines what is needed, how to collect it, analyze it,
and use it for effective market planning? b. marketing information system
Pete's Car Wash will donate 10% of Platinum Car Wash purchases to feed
the homeless. This is an example of ? C. Cause Marketing
Ginger Jones was reading an interesting newspaper article that discussed the
diverse culture of a foreign land. However, by the time she finished reading the
article, she discovered that the content was actually an advertisement for a
travel company. This is an example of . C. native advertising
Which is the key strategic decision in formulating a marketing plan? D. all of the
above
pg. 1
,MKT-315 Midterm Chapters 1 -
4
What is the process called when the wholesalers and manufacturers segment
their markets much the same way as retailers? C. B2B segmentation
The process of developing and executing strategies and tactics to market and sell
a product or service to a very specific target segment is: a. micromarketing
Which of the following options is not used in SWOTT analysis to set a direction in
the brand of a highly competitive marketplace? D. planning
Which of the following is not an economic factor: b.
Customer's data Marketing includes which of the following
activities?
Pricing a product
pg. 2
, MKT-315 Midterm Chapters 1 -
4
What is the process called when the wholesalers and manufacturers segment
their markets much the same way as retailers?
B2B segmentation
Which is NOT a key strategic decision in formulating a
marketing plan? Creation of the logo and tagline
Which of the following key perspectives is not considered while performing the
situation analysis? Suppliers
The Marketing Concept Era is designated between:
1960s-1970s
Who is required to have multiple decision-makers in order to appeal to multiple
stakeholders for a single purchase?
B2B marketers
Government regulations, suppliers, competitors, the economy, business
trends, finances, and the weather are? Opportunities and threats?
In the late 1990s, which of the following was third place in the minds and
wallets of worldwide consumers?
MasterCard
The process of developing and executing strategies and tactics to market and sell
a product or service to a very specific target segment is:
Micromarketing
When few sellers control most of the sales, it is:
Oligopoly
Which of the following options is not used in SWOTT analysis to set a direction in
the brand of a highly competitive marketplace?
Segmentation
Which of the following refers to specific, measurable, achievable, relevant, and
timely, and pertains to formulation of organizational objectives that are clear and
measurable?
SMART goals
pg. 3
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