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Foundation of Marketing Peregrine Global Exam Questions and Answers 100% Solved
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Foundation of Marketing Peregrine Global Exam Questions and Answers 100% Solved
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Foundation of Marketing PeregrineGlobal Exam Questions and Answers
100% Solved
Dashboard - ✔✔Marketers refer to a "dashboard" as an analogy for the many indicators of a
performance that should be monitored, much like an instrument panel in an automobile.
The dashboard is an indicator of a company's success. Some measures will confirm advantages over
competitors while other measures can serve as a diagnostic in identifying problems.
Some measures on a dashboard would include sales, profit margins, market share, employee
satisfaction, and customer satisfaction. Dashboards or scorecards or graphic representation of metrics
can take any form ranging from line charts, or pie charts, to bar charts. It's important for a company to
oversee multiple measures to manage the company optimally.
Four Classes of Goals - ✔✔Let's make more money: A company can state sales objectives in terms of
currency, market share, units, change from last year or quarter, region, and investments made toward
current sales - the philosophy underlying return on investment (ROI), return of marketing (ROM) or
return on quality initiatives (ROQ).
Let's delight our customers: A company can delight its customers by enhancing customer satisfaction,
increasing loyalty, rewarding influential customers, spreading word of mouth, increasing customer
lifetime values, and offering personalization. Many attempts at one-to-one marketing have been cost
ineffective.
Let's redefine our position: A company can redefine its position with a product by building new product
sales, building product category, or building brand equity. Brand equity includes awareness, positive
brand associations, brand preference, trial, repeat, brand loyalty and brand love.
Let's achieve broader social goals: Goals that go beyond marketing are human resource, finance,
production and distribution manufacturing, and research and development. Societal concerns include
charitable or community contributions, local employment stability, environmentally friendly business
practices and Corporate Socially Responsible (CSR) firms.
A brand with small share in a market that is not growing is called a . - ✔✔dog
Apple's iPod brand has a relatively large share in a growing market, and thus is best classified as a
blank . - ✔✔star
,Which is NOT one of the four classes of goals? - ✔✔being a leader
Marketing strategy links goals and . - ✔✔tactics
The following is one of the steps in the marketing strategic planning process EXCEPT .-
✔✔developing new conflict resolution techniques
Boston Consulting Group (BCG) Matrix - ✔✔Dog: products in low growth markets and with low relative
market share (optimize or hold)
Star: products in high growth markets with high relative market share (minimize or divest)
Cash cow: products in low growth markets but with high relative market share (milk)
Question mark or problem child: products in high growth markets but having low market share
(products in development, new technologies, uncertain markets)
Marketing - ✔✔Marketing is an exchange between a firm and its customers.
The company offers benefits to its customers and seeks profits.
Why is Marketing Important? - ✔✔Marketing is the business; it should permeate the entire organization.
Marketing and customer satisfaction is everyone's responsibility to maintain those relationships
American Marketing Association - ✔✔define marketing as "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.
Classical marketing - ✔✔is a philosophy which guides the attitude of everyone in a firm to stimulate and
satisfy the needs and wants of every customer.
Competitive marketing - ✔✔a strategy involves product strategy, pricing strategy, integrated marketing
communications, channels, and logistics strategy. It needs to offer value to the target market
, 5 C's - ✔✔Marketing Framework Part 1
Examining the External Environment
Customers: Who are they? What are they like? Do we want to draw different customers?
Company: What are our strengths and weaknesses? What customer benefits can we provide?
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