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).
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).
