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BUSML 3250 Quizzes with Correct Answers
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BUSML 3250 Quizzes with Correct Answers
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BUSML 3250 Quizzes with CorrectAnswers
2. How can we serve these customers best (what's our value proposition)? - Answer-In
the process of developing marketing strategy, one of the two critical questions the
manager must ask is, "What customers will we serve (what's our target market)?" Which
of the following is the other question?
segments - Answer-As the organization determines which customers to serve, it must
first divide the market into reachable portions, or ________ of the market, and then
select which portion of the market to target
customer value____ and ____customer satisfaction - Answer-The fourth stage in the
marketing process is to build and sustain enduring customer relationships. The key
elements of this process involve_______ and _______
attraction - Answer-Customer engagement marketing in the age of social media
marketing differs from more traditional marketing, which relied on intrusion to build
market share. Customer engagement marketing depends on __________ instead.
Supply chain management - Answer-One of the many elements of partner relationship
management that deals with outside partners in the channels of distribution from raw
materials to delivering goods to the final consumer is ___
it costs about one-fifth to maintain a loyal customer as it does to recruit a new customer
- Answer-One of the primary reasons successful marketers try to develop customer
lifetime value in a body of loyal consumers is because ______
frequency member program - Answer-A room upgrade offered by a hotel to a guest who
often stays in the hotel is an example of _______
Value - Answer-Following the change in consumer values and consumption patterns
after the Great Recession, marketers have changed their marketing strategies to
emphasize the____
Question Marks - Answer-The growth-share matrix defines four types of SBUs. The
high-growth, low-share businesses or products, which typically need heavy investments
to finance their rapid growth, are called
Market development - Answer-The managers of Arrow, an American retail chain, are
currently reviewing new demographic markets to sell the firm's current products. This is
an example of____
, Penetration - Answer-a firm such as McDonald's wanted to expand its business by
adding locations, redesigning menus, and adding services, it would be realizing growth
through_____
Diversification - Answer-A women's apparel manufacturer in California recently acquired
a Houston-based company that manufactures office furniture. This is an example of ___
products and technologies eventually become outdated - Answer-Companies that
define their missions in terms of products or technologies are considered myopic
primarily because __
Market targeting - Answer-The process of evaluating each market segment's
attractiveness and selecting one or more segments to enter is known as ____
Position - Answer-Alpha Motors offers "Green automobiles for a greener world." This
refers to the _______ of Alpha automobiles
Functional - Answer-Emerson Studios has designed its marketing organization along
the lines of a ____ organization in which operational specialists head different marketing
activities.
Suppliers - Answer-Marketing intermediaries help the company promote, sell, and
distribute its products to final buyers. _________ are not marketing intermediaries.
Demography - Answer-A critical element of microenvironmental scanning is ________,
which is the study of human populations in terms of size, density, location, age, gender,
race, occupation, and other statistics. This portion of the environment is of major
interest to marketers because it involves people who make up markets.
Millenials - Answer-Generation Y, or echo boomers, are also known as ________. They
are the portion of the population that was born between 1977 and 2000.
Asian Americans - Answer-This ethnic segment of the American market comprises
roughly 5% of the total population. _____________ are consistently more confident
about their financial situations than other segments and are more likely to live within
their means. They tend to avoid credit card debt and save more for future eventualities.
African Americans - Answer-By 2050, ________ will be an estimated 15 percent of the
U.S. population.
Confidence in and loyalty towards - Answer-The past two decades have seen a sharp
decrease in ________ America's business and political organizations and institutions,
and marketing managers need to be aware of changing beliefs about firms and
organizations when developing marketing mixes.
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