MKT 201 Final Study Guide 1-44 NOVA
Questions and Answers
Selecting particular segments of a population of customers to serve is called _________.
✅✅Target Market
GT Grand, a manufacturer of ultra-luxury cars, supplies customized vehicles based on the
specific demands of customers in affluent market segments. The company's approach is most
likely referred to as ________. ✅✅Target Marketing
A brand's ________ is the set of benefits that it promises to deliver to consumers to satisfy
their needs. ✅✅Value Proposition
Which of the following concepts holds that consumers will favor products that are available
and highly affordable? ✅✅The Product Concept
The Production Concept holds that ___________. ✅✅Consumers will favor products that
are available and highly affordable
, The ________ concept holds that consumers will favor goods and services that offer the most
in quality, performance, and innovative features. ✅✅Products
The ________ concept holds that consumers will favor goods and services that offer the most
in quality, performance, and innovative features. ✅✅Production Concept
According to the product concept, a company should ________. ✅✅devote its energy to
making continuous product improvements
Ainsworth is a toy manufacturer based in Australia. Which of the following most likely
indicates that Ainsworth is following a diversification strategy? ✅✅Ainsworth enters the
U.S. market with a line of children's clothing
ToyBox is a toy manufacturer based in the United Kingdom. Which of the following
indicates that the company is following a market penetration strategy? ✅✅B. It acquires
toy rights for a popular cartoon character to boost its sales
Questions and Answers
Selecting particular segments of a population of customers to serve is called _________.
✅✅Target Market
GT Grand, a manufacturer of ultra-luxury cars, supplies customized vehicles based on the
specific demands of customers in affluent market segments. The company's approach is most
likely referred to as ________. ✅✅Target Marketing
A brand's ________ is the set of benefits that it promises to deliver to consumers to satisfy
their needs. ✅✅Value Proposition
Which of the following concepts holds that consumers will favor products that are available
and highly affordable? ✅✅The Product Concept
The Production Concept holds that ___________. ✅✅Consumers will favor products that
are available and highly affordable
, The ________ concept holds that consumers will favor goods and services that offer the most
in quality, performance, and innovative features. ✅✅Products
The ________ concept holds that consumers will favor goods and services that offer the most
in quality, performance, and innovative features. ✅✅Production Concept
According to the product concept, a company should ________. ✅✅devote its energy to
making continuous product improvements
Ainsworth is a toy manufacturer based in Australia. Which of the following most likely
indicates that Ainsworth is following a diversification strategy? ✅✅Ainsworth enters the
U.S. market with a line of children's clothing
ToyBox is a toy manufacturer based in the United Kingdom. Which of the following
indicates that the company is following a market penetration strategy? ✅✅B. It acquires
toy rights for a popular cartoon character to boost its sales
