MAR 3023 FSU Exam 1 BRADY Questions With Complete
Solutions
Based on the BCG grid, if a product has a High Market share in
a market with High growth, what is it? Correct Answers star
Based on the BCG grid, if a product has a High market share, in
a market with Low growth, what is it? Correct Answers cash
cow
Based on the BCG grid, if a product has a Low market share, in
a market with Low growth, what is it? Correct Answers dog
Based on the BCG grid, if a product has Low Market Share, and
and in a market with High Growth, what is it? Correct Answers
question mark
Do all people believe businesses have CSR Correct Answers
No, Friedman believes the only purpose of a business is to make
money. However, many nowadays believe companies should be
mindful of their environmental and social effects.
Does the marketing function drive revenues? Correct Answers
yes
How are brands a powerful aspect of advertisin? Correct
Answers Brands convince people that their product is better,
even if it truly isn't.
Ex- Bayer Aspirin costs far more than Generic aspirin, yet it's
the same chemical formula; Coke does poorly in taste tests yet
the branding makes it sell
,How are businesses involved with political forces Correct
Answers The largest political donors in the United States are
large corporations (UPS, AT&T, Pfizer), as political agendas
impact their businesses. UPS wants lower gas costs, Pfizer is
against pro-consumer laws, etc.
How do brands work well? Correct Answers Brands make
consumers lives easier, by making purchasing decisions easier.
You don't have to think hard about whether to buy Charmin
toilet paper, or off brand toilet paper.
How do businesses respond to demographics Correct Answers
Businesses create products that cater to certain demographic
trends.
Ex- Hispanics have been rising in the US, so Coffee Mate has a
Mexican Chocolate Creamer, and Publix and Windixie have
opened up their own hispanic stores in certain markets
how do companies retaliate to competitors? Correct Answers
Great companies release products to prevent competition from
targeting weakness.
Ex- Spanx introduced low cost model
How do ethics violations affect the business Correct Answers
Violations can negatively impact firm by degrading trust
between customer and business. This can lead to customer
dissatisfaction and even lawsuits.
, How do legal and regulatory forces impact marketing Correct
Answers There are numerous regulation agencies that have
strict laws business must cooperate with.
How do marketers achieve Economic Responsibility?
Must be Profitable so that the following 3 things occur: Correct
Answers 1. Return on Investments
2. Jobs are Created
3. Contribute goods/services to the community.
How do marketers achieve ethical responsibility Correct
Answers Must follow the principles deemed as acceptable
conduct in marketing determined by the various stakeholders:
public, government, consumers, industry, etc.
Very rarely will all stakeholders be satisfied, this is where
decision making comes in.
How do marketers achieve legal responsibility Correct Answers
Must follow ALL laws and regulations. This is very easy to
follow and must be done by all businesses.
How do marketers achieve philanthropic responsibility Correct
Answers Promoting Human Welfare and Goodwill through
either:
1. Cause Related: linking products to social cause for short term
basis (i.e. Starbucks Breast Cancer Month)
2. Strategic Philanthropy: use of core competencies to address
key stakeholders interest to achieve organization and social
Solutions
Based on the BCG grid, if a product has a High Market share in
a market with High growth, what is it? Correct Answers star
Based on the BCG grid, if a product has a High market share, in
a market with Low growth, what is it? Correct Answers cash
cow
Based on the BCG grid, if a product has a Low market share, in
a market with Low growth, what is it? Correct Answers dog
Based on the BCG grid, if a product has Low Market Share, and
and in a market with High Growth, what is it? Correct Answers
question mark
Do all people believe businesses have CSR Correct Answers
No, Friedman believes the only purpose of a business is to make
money. However, many nowadays believe companies should be
mindful of their environmental and social effects.
Does the marketing function drive revenues? Correct Answers
yes
How are brands a powerful aspect of advertisin? Correct
Answers Brands convince people that their product is better,
even if it truly isn't.
Ex- Bayer Aspirin costs far more than Generic aspirin, yet it's
the same chemical formula; Coke does poorly in taste tests yet
the branding makes it sell
,How are businesses involved with political forces Correct
Answers The largest political donors in the United States are
large corporations (UPS, AT&T, Pfizer), as political agendas
impact their businesses. UPS wants lower gas costs, Pfizer is
against pro-consumer laws, etc.
How do brands work well? Correct Answers Brands make
consumers lives easier, by making purchasing decisions easier.
You don't have to think hard about whether to buy Charmin
toilet paper, or off brand toilet paper.
How do businesses respond to demographics Correct Answers
Businesses create products that cater to certain demographic
trends.
Ex- Hispanics have been rising in the US, so Coffee Mate has a
Mexican Chocolate Creamer, and Publix and Windixie have
opened up their own hispanic stores in certain markets
how do companies retaliate to competitors? Correct Answers
Great companies release products to prevent competition from
targeting weakness.
Ex- Spanx introduced low cost model
How do ethics violations affect the business Correct Answers
Violations can negatively impact firm by degrading trust
between customer and business. This can lead to customer
dissatisfaction and even lawsuits.
, How do legal and regulatory forces impact marketing Correct
Answers There are numerous regulation agencies that have
strict laws business must cooperate with.
How do marketers achieve Economic Responsibility?
Must be Profitable so that the following 3 things occur: Correct
Answers 1. Return on Investments
2. Jobs are Created
3. Contribute goods/services to the community.
How do marketers achieve ethical responsibility Correct
Answers Must follow the principles deemed as acceptable
conduct in marketing determined by the various stakeholders:
public, government, consumers, industry, etc.
Very rarely will all stakeholders be satisfied, this is where
decision making comes in.
How do marketers achieve legal responsibility Correct Answers
Must follow ALL laws and regulations. This is very easy to
follow and must be done by all businesses.
How do marketers achieve philanthropic responsibility Correct
Answers Promoting Human Welfare and Goodwill through
either:
1. Cause Related: linking products to social cause for short term
basis (i.e. Starbucks Breast Cancer Month)
2. Strategic Philanthropy: use of core competencies to address
key stakeholders interest to achieve organization and social
