BUSN 311 CORRECT EXAMS QUESTIONS AND
ANSWERS SET A+
✔✔A company, which markets a smart-phone, targets the teenagers in Brazil and
Argentina. A survey revealed that 50% of the target consumers in the areas currently
own smart-phones. According to the innovation diffusion curve, which group can be
recommended as the target for this company in the current market stage? - ✔✔Early
Majority
✔✔The screen shot is an image of
(Get Consumers --> Grow Consumers) - ✔✔Marketing Funnel
✔✔In planning marketing strategies, marketers conduct PEST analysis to understand
the macro environmental factors. What does each letter in PEST stand for? -
✔✔Political, Economical, Social, Technological
✔✔Name the four P's of the traditional marketing mix - ✔✔Product, Price, Promotion,
Placement
✔✔Marketing _____________ refers to sellers being preoccupied with their own
products and losing sight of underlying consumer needs? - ✔✔myopia
✔✔Identify and describe three counterexamples to Pioneer Advantage, which is NOT
covered or mentioned in the lecture - ✔✔Pioneer → Current leader
Blackberry, Yahoo
Angry birds
✔✔Complete the diagram: Fill-in the 4 categories of the BGC Growth Share Matrix -
✔✔Star, Question mark, Cash cow, Pet
✔✔Among varied strategic options of market challengers, which type of attack strategy
does Panasonic applies in the case described in below box?
, Around 2010 in the North American TV market, Panasonic was one of challenger
brands, which competed with leading brands like Samsung and Sony. The major
competing area of the TV industry at the time was a new product with LED panel.
However, Panasonic announced the new marketing strategy focused not on LED TV but
on 3D TV to gain its market share fomr the leading brands. It seems that Panasonic
tried to attack easier market, 3D TV to broaden its resource base rather than struggling
into the LED TV market, which was crowded with much more severe competitions
among stronger brands like Samsung, Sony, and LG - ✔✔Bypass attack
✔✔The Customer _____________ Map is a visualization of a customers' objectives,
needs, feeling and barriers throughtout the path-to-purchase for a product, service or
brand. - ✔✔Journey
✔✔Writing Question: As in the given example of Market Penetration strategy, provide
examples how Starbucks can achieve growths through each of Product Development,
Market Development, and Diversification. It can be either the ones that have actually
executed by Starbucks or your own ideas for Starbucks - ✔✔BGC example:
STARBUCKS:
New flavor - Product Development
New country (Italy) - Market development
New business (spa) - Diversification
Introduce a debit card that lets customers prepay for coffee and snacks → Market
Penetration
✔✔What does ELM stand for? Discuss the key concepts and applications of ELM with
providing examples. - ✔✔Elaboration Likelihood model
(*put image here)
✔✔T/F: A SWOT analysis should cover both internal and external factors related to a
company and its business - ✔✔True
✔✔T/F: Vanity measures are the ones that are easily manipulated, and do not
necessarily correlate to the numbers that really matter: active users, engagement, the
cost of getting new customers, and ultimately revenues and profits - ✔✔True
✔✔T/F: In marketing, STP strategies stands for: Strategic Target Proposition -
✔✔False: Segmentation Targeting and Positioning
✔✔T/F: In conducting a demographical segmentation, a company needs to pay
attention to geographical differences in needs and wants - ✔✔False:
ANSWERS SET A+
✔✔A company, which markets a smart-phone, targets the teenagers in Brazil and
Argentina. A survey revealed that 50% of the target consumers in the areas currently
own smart-phones. According to the innovation diffusion curve, which group can be
recommended as the target for this company in the current market stage? - ✔✔Early
Majority
✔✔The screen shot is an image of
(Get Consumers --> Grow Consumers) - ✔✔Marketing Funnel
✔✔In planning marketing strategies, marketers conduct PEST analysis to understand
the macro environmental factors. What does each letter in PEST stand for? -
✔✔Political, Economical, Social, Technological
✔✔Name the four P's of the traditional marketing mix - ✔✔Product, Price, Promotion,
Placement
✔✔Marketing _____________ refers to sellers being preoccupied with their own
products and losing sight of underlying consumer needs? - ✔✔myopia
✔✔Identify and describe three counterexamples to Pioneer Advantage, which is NOT
covered or mentioned in the lecture - ✔✔Pioneer → Current leader
Blackberry, Yahoo
Angry birds
✔✔Complete the diagram: Fill-in the 4 categories of the BGC Growth Share Matrix -
✔✔Star, Question mark, Cash cow, Pet
✔✔Among varied strategic options of market challengers, which type of attack strategy
does Panasonic applies in the case described in below box?
, Around 2010 in the North American TV market, Panasonic was one of challenger
brands, which competed with leading brands like Samsung and Sony. The major
competing area of the TV industry at the time was a new product with LED panel.
However, Panasonic announced the new marketing strategy focused not on LED TV but
on 3D TV to gain its market share fomr the leading brands. It seems that Panasonic
tried to attack easier market, 3D TV to broaden its resource base rather than struggling
into the LED TV market, which was crowded with much more severe competitions
among stronger brands like Samsung, Sony, and LG - ✔✔Bypass attack
✔✔The Customer _____________ Map is a visualization of a customers' objectives,
needs, feeling and barriers throughtout the path-to-purchase for a product, service or
brand. - ✔✔Journey
✔✔Writing Question: As in the given example of Market Penetration strategy, provide
examples how Starbucks can achieve growths through each of Product Development,
Market Development, and Diversification. It can be either the ones that have actually
executed by Starbucks or your own ideas for Starbucks - ✔✔BGC example:
STARBUCKS:
New flavor - Product Development
New country (Italy) - Market development
New business (spa) - Diversification
Introduce a debit card that lets customers prepay for coffee and snacks → Market
Penetration
✔✔What does ELM stand for? Discuss the key concepts and applications of ELM with
providing examples. - ✔✔Elaboration Likelihood model
(*put image here)
✔✔T/F: A SWOT analysis should cover both internal and external factors related to a
company and its business - ✔✔True
✔✔T/F: Vanity measures are the ones that are easily manipulated, and do not
necessarily correlate to the numbers that really matter: active users, engagement, the
cost of getting new customers, and ultimately revenues and profits - ✔✔True
✔✔T/F: In marketing, STP strategies stands for: Strategic Target Proposition -
✔✔False: Segmentation Targeting and Positioning
✔✔T/F: In conducting a demographical segmentation, a company needs to pay
attention to geographical differences in needs and wants - ✔✔False:
