IBM 3012 Study Guide Exam 1 Questions & Answers 2024/2025
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Module
IBM 3012
Institution
IBM 3012
IBM 3012 Study Guide Exam 1 Questions & Answers 2024/2025
The activities a firm undertakes to create a certain perception of its product in the eyes of the target market is referred to as - ANSWERSPositioning
What is the premise behind the marketing concept? - ANSWERSa focus on satisfying t...
IBM 3012 Study Guide Exam 1 Questions
& Answers 2024/2025
The activities a firm undertakes to create a certain perception of its product in the eyes of the target
market is referred to as - ANSWERSPositioning
What is the premise behind the marketing concept? - ANSWERSa focus on satisfying the needs of the
customer
Marketers who design and offer new products and services to their existing customers are pursuing a
____________________ growth strategy. - ANSWERSproduct development
The activity of buyers and sellers trading things of value so that each is better off as a result is referred to
as - ANSWERSan exchange
As it pertains to a situation analysis, the term "market" refers to - ANSWERSthe group of consumers that
is interested in and able to buy a particular product
The internal considerations in a SWOT analysis are - ANSWERSa firm's strengths and weaknesses
Daphne used to work in the city where she would take public transportation to work. However, she just
took a new job in the suburbs and now not only has to find a place to live, but also has to buy a car to
get to and from her job. For Daphne, these things represent - ANSWERSa need
Which marketing strategy is being employed by a firm that is seeking to expand in foreign markets? -
ANSWERSMarket development
A good mission statement should be oriented around the - ANSWERScustomer
, When U.S. domestic firms attempt to take their business global, one of the biggest mistakes they make is
to - ANSWERSBelieve that foreign consumers want exactly the same products that are sold in the U.S and
want them marketed in the same way
Compare the following product offerings. Which is the best example of direct competition? -
ANSWERSCoffee and tea
_____________________ is a legal process in which one firm pays to use or distribute another firm's
resources, including products, trademarks, patents, intellectual property, or other proprietary
knowledge. - ANSWERSLicensing
The superior position a product enjoys over competing products if consumers believe it has more value
than other products in its category is referred to as a - ANSWERSCompetitive advantage
ABC Pharmaceuticals has developed a patented medication that treats allergies more effectively than
other medications, and causes fewer side-effects. As far as a SWOT goes, this represents a(an): -
ANSWERSOpportunity
Adrienne decides to add new sales representatives and increase advertising in her existing market for
her current line of security systems. Adrienne is pursuing a __________ growth strategy. -
ANSWERSMarket penetration
Currently, females account for what percentage of all consumer purchases in the United States? -
ANSWERS85%
If a domestic firm makes the mistake of believing that foreign consumers want exactly the same products
that are sold in the United States, then that firm is most likely ignoring the importance of -
ANSWERSCultural fit
NAFTA is a trade agreement between - ANSWERSUS, Canada, Mexico
Compare the following product offerings. Which is an example of indirect competition? -
ANSWERSBurger King and Subway
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