MKT 3401 MODULE 4 UPDATED ACTUAL QUESTIONS AND
CORRECT ANSWERS
Question:
1. moodle essays
Answer:
moodle essays
Question:
2. A Marketing Strategy Framework is divided into 3 levels:
Answer:
Level 1 is Market Analysis, Level 2 is Strategy Development and Level 3 is Implementation.
Question:
3. The first part of the market analysis is the _____________. They also need to make sure their product
fits with their company brand and the company operations while understanding financial capabilities as the
company.
Answer:
Company
Question:
4. a company needs to determine their: (3)
Answer:
goals, mission statement and overall philosophy.
Question:
5. It is important to examine a company's strengths and weaknesses, as well as the company's brand and
reputation with consumers. Their strengths could be (4): (Also, it needs to be determined if there are ways
of improving on weaknesses.)
Answer:
financial, distribution, supply chain, positive brand, and other factors that the company does well.
Question:
6. A company needs to take advantage of possible opportunities, such as ______________________, to
make sure that they are staying ahead of the competition. And, of course, a company needs to know about
possible threats they could face, such as new ___________________________
Answer:
new technology or a new location tariffs and laws or changes in prices.
Question:
7. The second part of the market analysis is the ___________________ Companies must always be aware
of current and future competition as well as what the current strategy might be if they need to innovate to
stay current with the changing times
Answer:
Competition.
,Question:
8. what is the focus when dealing with competition ?
Answer:
Being smart and ready to make adjustments or changes needs to be a constant focus.
Question:
9. this is an example of? For example, Coke and Pepsi have always been rivals competing for the soft drink
consumer. Over the past decades, they have engaged expensive and fierce marketing campaigns against
each other as they marketed their many products. But they were slow to respond when heath became a high
priority for consumers. They were not sagacious in anticipating that water would become one of their chief
competitors. Water would also become a main competitor for many companies.
Answer:
Companies must always beware of who the competition is and where the next level of completion might
come from.
Question:
10. this is an example of? For example, there continues to be fierce competition to eliminate straws used in
restaurants and coffee shops. With the growing concerns to reduce the amounts of plastic straws,
consumers are now demanding alternatives to plastic straws. The plastics industry must confront this
challenge and design a product that will be appealing and not threatening to consumers concerned about
the environment. This has presented rich opportunities for paper straws or other types of non-disposable
straws to compete with the plastic straw industry. The ability for a company to be agile and to have the
vision to adapt to changes in consumer preferences will enable them to respond to new opportunities as
they emerge.
Answer:
the importance of being aware of the different forms of competition that can be found.
Question:
11. this is an example of? For example, LSU is home to the leading football program in Louisiana. The
University has competition from other schools such as Texas A&M and the University of Georgia. But one
of their biggest competitors is the New Orleans Saints of the National Football League. Even though it is a
professional football team, they are competing for fans to purchase tickets for Saints game or to spend their
money at hotels and restaurants in New Orleans and not Baton Rouge. Because of the rather high cost of
football game tickets, fans might have to decide which team they will support and where their travel
money will go.
Answer:
competition can be a rival school who tries to capture a rich fan base with highly loyal fans.
Question:
12. The third part of a market analysis is the ____________. Companies must learn who their possible
customers are, how they get their information, what benefits are they receiving from the product they are
purchasing, and when and where do they buy.
Answer:
Consumer
, Question:
13. Gathering insightful demographic information can help in targeting and communicating with a certain
population of potential customers. Information is being constantly gathered regarding consumer's
ethnicity, education, nationality, and geographic location. Learning about the age of the consumer is also
critical and can be broken down by categories such as (5):
Answer:
Senior Citizens, Baby Boomers, Generation X, Millennials, Generation Z
Question:
14. According to a Wall Street Journal article, there are _____ million members of _______________,
those people born around 1997. Of that population, approximately ____ million are now adults and
preparing to enter the workforce where they have many purchase decisions that need to be made. There are
many characteristics that describe Gen Z and this information can be used by companies as they try to
appeal to them. Understanding the profile of how each age group differs is helpful in deciding which
segment of the population to pursue.
Answer:
67 Generation Z 17
Question:
15. this is an example of? For example, the NFL's primary consumer base has been on a male population
from early twenties to Baby Boomers. In their attempt to expand their fan base, the NFL began focusing on
women and children ages 8-12. The success of their campaign was that they were able to grow their female
fan base and were able to create a new line of NFL licensed apparel exclusively for women.
Answer:
Focus could also be placed on gender. Although some products are aimed at either male or female
populations, there could be a shift in order to expand market share.
Question:
16. this is an example of? Botox, the anti-wrinkle product. Now that they have captured a large segment of
the female population, they are now focusing on males in the range of 40 years old as they expand their
consumer base. Botox was developed as an antiwrinkle treatment for female Baby Boomers and has been
an industry success. Although the leader industry, they are now trying to boost sales. Their new ad
campaign is marketing to younger people and to men. Have a campaign called Bo-curious. According to
the Wall Street Journal, the phrase is similar to the term bicurious which means "an intense interest in
bisexuality" and as the article states, will generate conversation with people of all ages and gender.
Answer:
Focus could also be placed on gender. Although some products are aimed at either male or female
populations, there could be a shift in order to expand market share.
Question:
17. The fourth part of a market analysis is __________. These are the factors in the external environment
that are constantly changing. Analysis should be placed on the ___________. These are the values of the
day and how do companies adjust to them.
Answer:
Conditions social factors
CORRECT ANSWERS
Question:
1. moodle essays
Answer:
moodle essays
Question:
2. A Marketing Strategy Framework is divided into 3 levels:
Answer:
Level 1 is Market Analysis, Level 2 is Strategy Development and Level 3 is Implementation.
Question:
3. The first part of the market analysis is the _____________. They also need to make sure their product
fits with their company brand and the company operations while understanding financial capabilities as the
company.
Answer:
Company
Question:
4. a company needs to determine their: (3)
Answer:
goals, mission statement and overall philosophy.
Question:
5. It is important to examine a company's strengths and weaknesses, as well as the company's brand and
reputation with consumers. Their strengths could be (4): (Also, it needs to be determined if there are ways
of improving on weaknesses.)
Answer:
financial, distribution, supply chain, positive brand, and other factors that the company does well.
Question:
6. A company needs to take advantage of possible opportunities, such as ______________________, to
make sure that they are staying ahead of the competition. And, of course, a company needs to know about
possible threats they could face, such as new ___________________________
Answer:
new technology or a new location tariffs and laws or changes in prices.
Question:
7. The second part of the market analysis is the ___________________ Companies must always be aware
of current and future competition as well as what the current strategy might be if they need to innovate to
stay current with the changing times
Answer:
Competition.
,Question:
8. what is the focus when dealing with competition ?
Answer:
Being smart and ready to make adjustments or changes needs to be a constant focus.
Question:
9. this is an example of? For example, Coke and Pepsi have always been rivals competing for the soft drink
consumer. Over the past decades, they have engaged expensive and fierce marketing campaigns against
each other as they marketed their many products. But they were slow to respond when heath became a high
priority for consumers. They were not sagacious in anticipating that water would become one of their chief
competitors. Water would also become a main competitor for many companies.
Answer:
Companies must always beware of who the competition is and where the next level of completion might
come from.
Question:
10. this is an example of? For example, there continues to be fierce competition to eliminate straws used in
restaurants and coffee shops. With the growing concerns to reduce the amounts of plastic straws,
consumers are now demanding alternatives to plastic straws. The plastics industry must confront this
challenge and design a product that will be appealing and not threatening to consumers concerned about
the environment. This has presented rich opportunities for paper straws or other types of non-disposable
straws to compete with the plastic straw industry. The ability for a company to be agile and to have the
vision to adapt to changes in consumer preferences will enable them to respond to new opportunities as
they emerge.
Answer:
the importance of being aware of the different forms of competition that can be found.
Question:
11. this is an example of? For example, LSU is home to the leading football program in Louisiana. The
University has competition from other schools such as Texas A&M and the University of Georgia. But one
of their biggest competitors is the New Orleans Saints of the National Football League. Even though it is a
professional football team, they are competing for fans to purchase tickets for Saints game or to spend their
money at hotels and restaurants in New Orleans and not Baton Rouge. Because of the rather high cost of
football game tickets, fans might have to decide which team they will support and where their travel
money will go.
Answer:
competition can be a rival school who tries to capture a rich fan base with highly loyal fans.
Question:
12. The third part of a market analysis is the ____________. Companies must learn who their possible
customers are, how they get their information, what benefits are they receiving from the product they are
purchasing, and when and where do they buy.
Answer:
Consumer
, Question:
13. Gathering insightful demographic information can help in targeting and communicating with a certain
population of potential customers. Information is being constantly gathered regarding consumer's
ethnicity, education, nationality, and geographic location. Learning about the age of the consumer is also
critical and can be broken down by categories such as (5):
Answer:
Senior Citizens, Baby Boomers, Generation X, Millennials, Generation Z
Question:
14. According to a Wall Street Journal article, there are _____ million members of _______________,
those people born around 1997. Of that population, approximately ____ million are now adults and
preparing to enter the workforce where they have many purchase decisions that need to be made. There are
many characteristics that describe Gen Z and this information can be used by companies as they try to
appeal to them. Understanding the profile of how each age group differs is helpful in deciding which
segment of the population to pursue.
Answer:
67 Generation Z 17
Question:
15. this is an example of? For example, the NFL's primary consumer base has been on a male population
from early twenties to Baby Boomers. In their attempt to expand their fan base, the NFL began focusing on
women and children ages 8-12. The success of their campaign was that they were able to grow their female
fan base and were able to create a new line of NFL licensed apparel exclusively for women.
Answer:
Focus could also be placed on gender. Although some products are aimed at either male or female
populations, there could be a shift in order to expand market share.
Question:
16. this is an example of? Botox, the anti-wrinkle product. Now that they have captured a large segment of
the female population, they are now focusing on males in the range of 40 years old as they expand their
consumer base. Botox was developed as an antiwrinkle treatment for female Baby Boomers and has been
an industry success. Although the leader industry, they are now trying to boost sales. Their new ad
campaign is marketing to younger people and to men. Have a campaign called Bo-curious. According to
the Wall Street Journal, the phrase is similar to the term bicurious which means "an intense interest in
bisexuality" and as the article states, will generate conversation with people of all ages and gender.
Answer:
Focus could also be placed on gender. Although some products are aimed at either male or female
populations, there could be a shift in order to expand market share.
Question:
17. The fourth part of a market analysis is __________. These are the factors in the external environment
that are constantly changing. Analysis should be placed on the ___________. These are the values of the
day and how do companies adjust to them.
Answer:
Conditions social factors
