Exam (elaborations)
MARKETING 351 EXAM 1 CSUF LANCELLOTTI |79 QUESTIONS AND ANSWERS
- Module
- MKTG 351
- Institution
- Oxford University (OX)
MARKETING 351 EXAM 1 CSUF LANCELLOTTI |79 QUESTIONS AND ANSWERS
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MARKETING 351 EXAM 1 CSUFLANCELLOTTI 79 QUESTIONS AND
ANSWERS
star - answer Fast growing market leader
cash cow - answer Generates more cash than it needs to maintain its market share. In a low
growth market, but product has dominant market share
question mark - answer Shows rapid growth but poor profit margins. Low market share in high
growth industry
dog - answer Low growth potential and a small market share
SWOT Analysis - answer Identifying internal strengths and weaknesses and also examining
eternal opportunities and threats
Penetration - answer same products for same customers
Product Development - answer new products for same customers
Market Development - answer same products for new segments
Diversification - answer new products for new segments
Demography - answer The study of people's vital statistics, such as age, race and ethnicity, and
location
, Marketing - answer Marketing is the analysis of customers, competitors, and a company,
combining this understanding into an overall understanding of what segments exist, deciding on
targeting the most profitable segments, positioning your products, and then doing what's
necessary to deliver on that positioning.
good marketing - answer identifying the needs of the customers and better addressing them
than other companies
good marketing involves - answer listening to customers, not tell. trying to make your customer
happy (not just get a lot of sales)
product - answer solution to a consumers problem. positioned relative to competitors (price,
offerings, etc.)
need - answer state of felt deprivation including physical, social, and individual needs. Natural,
cannot be created by marketers
want - answer form that a human need takes, as shaped by culture and individual personality.
Marketers can create a want
demand - answer Wants + Buying Power (i.e. benefits sought)
market - answer anyone who does and would buy a product
market segment - answer a portion of the overall market
Production Orientation - answer Availability and affordability
Product Orientation - answer Benefits of the product
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