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COB 300D Marketing Final Exam (Atav) Questions and Answers
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COB 300D Marketing Final Exam (Atav) Questions and Answers
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COB 300D Marketing Final Exam (Atav)Questions and Answers
Marketing helps create - Answers -Value
Production-Oriented Era - Answers -Turn of the 20th century
Believed a good product would sell itself
Sales-Oriented Era - Answers -1920-1950
production and distribution techniques became more sophisticated
customers consume less or manufacture items themselves.
Firms responded to their overproduction depending on heavy doses of personal selling
and advertising.
Market-Oriented Era - Answers -After WWII,
Buyers market (lots of options to buy)
Value-Based Era - Answers --Focused on giving the customer what they want, but at a
better value
-You get what you pay for... but price is not the most important factor
SWOT analysis - Answers -strengths, weaknesses, opportunities, threats
portfolio analysis (BCG matrix) - Answers -stars, cash cows, question marks, dogs
Stars - Answers -high market share, high market growth
Cash Cows - Answers -high market share, low market growth
Dogs - Answers -low market share, low market growth
Question Marks - Answers -low market share, high market growth
market penetration - Answers -selling more of the same to the same types of people
(lowest risk)
market development - Answers -selling the existing products to new types of consumer
(medium risk)
product development - Answers -selling new products to existing customers (medium
risk)
, diversification - Answers -selling new products to new consumer (highest risk)
Ansoff Growth Matrix - Answers -
Segmentation - Answers -divide the total market into smaller segments
geographic segmentation - Answers -Value by region, Market Size, Customer
Convenience, Population Shifts
demographic segmentation - Answers -segmenting markets by age, gender, income,
ethnic background, and family life cycle
psychographic segmentation - Answers -segmenting markets on the basis of
personality, motives, lifestyles
geodemographic segmentation - Answers -geographic, demographic, lifestyle
Benefit Segmentation - Answers -the process of grouping customers into market
segments according to the benefits they seek from the product
Behavioral Segmentation - Answers -dividing a market into segments based on
consumer knowledge, attitudes, uses of a product, or responses to a product
Segment Identification - Answers -Who is in the market
What are their needs
Distinct separation of segments
Segment Substantiality - Answers -segment must be large enough to warrant marketing
mix
Segment Reachability - Answers -Market must be accessed through persuasive
communications and product distribution
Segment Responsiveness - Answers -Customers reaction must be similar to and
positive to the firm's offering
Segment Profitability - Answers -the profitability of a particular type of consumer or
market segment, determined by analyzing the revenues generated through the sale of
products and services to that type of consumer or segment
Segment Profitability Equation - Answers -(segment size x segment adoption
percentage x purchase behavior x profit margin percentage) - fixed costs
Profit Margin Percentage - Answers -(selling price - variable costs) / selling price
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