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COB 300 Marketing Midterm Exam Questions Current Answers Update
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COB 300 Marketing Midterm Exam Questions Current Answers Update Factors That Interfere With Marketing (3) - Answers - -The organization. -Society. -Environmental forces. Political structure of the global external market - Answers - Tariffs, import quotas, trade agreements Organizations t...

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  • November 25, 2024
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  • 2024/2025
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COB 300 Marketing Midterm Exam
Questions Current Answers
Update
Factors That Interfere With Marketing (3) - Answers -✔✔ -The organization.
-Society.
-Environmental forces.

Political structure of the global external market - Answers -✔✔ Tariffs, import quotas,
trade agreements

Organizations that influence marketing (6) - Answers -✔✔ -Research and development
-Human resources
-Information systems
-Finance
-Manufacturing
-Logistics

What is Needed For Marketing to Occur (4) - Answers -✔✔ -Unsatisfied needs.
-A desire and ability to satisfy these needs.
-A way to communicate to the parties.
-Something to exchange.

The Market - Answers -✔✔ -People with the desire and ability to buy what you are
offering
-A group of people or companies with similar product needs as a result of one or more
common characteristic

*Controllable* Marketing Mix (4 P's) - Answers -✔✔ -Price.
-Product.
-Promotion.
-Place.

*Uncontrollable* Marketing Mix (5) - Answers -✔✔ -Social.
-Economical.
-Technological.
-Competitive.
-Regulatory.

Evolution of Marketing (4) - Answers -✔✔ -Production (What can we do best?).
-Sales (How can we sell more aggressively?).

, -Market (What do customers want and need?).
-Customer (Want & need and how can we benefit society?)

Credo - Answers -✔✔ A code of ethics

Organization's Social Responsibilities (4) - Answers -✔✔ -Economic.
-Legal.
-Ethical.
-Philanthropic.

Types of Organizations (3) - Answers -✔✔ -Offerings (Product, services, ideas).
-Profit/Non profit.
-Government.

Strategy - Answers -✔✔ A long term course of action designed to deliver a unique
customer experience while still achieving organizational goals

Why does an organizational strategy exist (4) - Answers -✔✔ -Core values.
-Mission.
-Culture.
-Market share.

Quality - Answers -✔✔ If you have had quality once, you can never be completely
satisfied with a different brand of the same product

Boston Matrix - Answers -✔✔ -You start off as a wildcat and hope to become a star.
-You want a balance between cash cows (financing) and wildcats )ideas) so you can
make the most stars.
-Top left: Stars, Top righ: Wildcats, Bottom left: cash cows, Bottom right: Dogs

Diversification Analysis (Igor Ansoff's Matrix) (4) - Answers -✔✔ -Penetration market:
Familiar with the product and market (+,+)
-Product development: Unfamiliar product in a familiar market (-,+)
-Market development: Familiar product in an unfamiliar market (+,-)
-Diversification: Unfamiliar product in an unfamiliar market (-,-)

The strategic marketing process phases (3) - Answers -✔✔ -The planning phase
-The implementation phase
-The evaluation phase

Phase 1: Planning Phase Steps (3) - Answers -✔✔ -Situational SWOT analysis.
-Market-Product Focus goal setting.
-The marketing program (4 P's).

What does SWOT Stand For? - Answers -✔✔ -Strengths (internal).

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