MKT 320F FINAL REVIEW with complete solutions pass grade
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Course
MKT 320F
Institution
MKT 320F
MKT 320F FINAL REVIEW with complete solutions pass grade
MKT 320F FINAL REVIEW with complete solutions pass grade
MKT 320F FINAL REVIEW with complete solutions pass grade
MKT 320F FINAL REVIEW with complete solutions pass grade
MKT 320F FINAL REVIEW with complete solutions pass grade
MKT 320F ...
MKT 320F FINAL REVIEW with complete
solutions pass grade
MKT 320F FINAL REVIEW with complete
solutions pass grade
Who is responsible for marketing? - Answer everyone in the organization
production orientation - Answer what can we make or do best?
sales orientation - Answer how can we sell more aggressively?
marketing orientation - Answer what do customers want and need?
societal orientation - Answer what do customers want/need and how can we benefit
society?
According to the BCG Matrix, which category has high market share and low growth
rate? - Answer cash cow
According to BCG matrix, which category has low market share and low growth rate? -
Answer dogs
According to BCG matrix, which category has high market share and high growth rate? -
Answer stars
According to BCG matrix, which category has low market share and high growth rate? -
Answer problem children
A major goal of marketing is to: - Answer create an exchange
What is 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? - Answer Marketing
______ ________ is defined as the relationship between benefits and the sacrifice
necessary to obtain those benefits. - Answer customer value
Achieving a marketing orientation involves what 4 things? - Answer obtaining
information about customers, competitors, and markets
examining the info from a total business perspective
determining how to deliver superior customer value
implementing actions to provide value to customers
, MKT 320F FINAL REVIEW with complete
solutions pass grade
A __________ ___________ states that the social and economic justification for an
organization's existence is the satisfaction of customer want a needs while meeting
organizational objectives. - Answer marketing concept
what are the six elements of a marketing plan? - Answer define a mission statement,
perform a situation analysis, define objectives, delineate a target market, establish
components of the marketing mix, establish the four Ps (product, place, promotion,
price)
What question does the mission statement answer? - Answer what business are we in?
marketing objective - Answer a statement of what is to be accomplished through
marketing activities
What four things must be true of a marketing objective? - Answer realistic, measurable,
time specific, compared to a benchmark
market opportunity analysis - Answer 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
target segmentation - Answer the subgroup chosen as the focal point for the marketing
program and advertising campaign
marketing mix - Answer a unique blend of product, place (distribution), promotion, and
pricing strategies designed to produce mutually satisfying exchanges with a target
market
What are the four Ps? - Answer product, place, promotion, price
Which of the four Ps must be the first to be considered? - Answer product
What are the four options in Ansoff's Strategic Opportunity Matrix? - Answer market
penetration, market development, product development, diversification
market development - Answer attract new customers to existing products (ansoff)
product development - Answer create new products for present markets (ansoff)
diversification - Answer increasing sales by introducing new products into new markets
(ansoff)
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