BCOR 2201 Marketing Exam 1 with answers |\ |\ |\ |\ |\ |\
Black Rifle Coffee Seeks Like-Minded Aficionados -
|\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Black Rifle coffee is a company
|\ |\ |\ |\ |\ |\ |\ |\
that marketed their product towards veterans, and shifted
|\ |\ |\ |\ |\ |\ |\
towards Right wing cosumers. By segmenting the market
|\ |\ |\ |\ |\ |\ |\ |\ |\
and focusing on this smaller group of likeminded people,
|\ |\ |\ |\ |\ |\ |\ |\ |\
they were able to get a large share of that specific
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
market.
Ultimate Consumer - CORRECT ANSWERS ✔✔the person
|\ |\ |\ |\ |\ |\ |\
who buys a product for their own use (the final consumer)
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
The four P's of Marketing - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\
✔✔Product, Price, Place, Promotion |\ |\ |\
The Prime Effect: How Amazon's 2-Day Shipping Is
|\ |\ |\ |\ |\ |\ |\ |\
Disrupting Retail - CORRECT ANSWERS ✔✔With its |\ |\ |\ |\ |\ |\ |\
massive amount of wealth and infastructure, Amazon's 2-
|\ |\ |\ |\ |\ |\ |\
Day shipping trademark has become the industry norm.
|\ |\ |\ |\ |\ |\ |\ |\
Now, smaller retailers without the money or warehouses
|\ |\ |\ |\ |\ |\ |\ |\
to offer 2-day shipping, are finding it hard to compete.
|\ |\ |\ |\ |\ |\ |\ |\ |\
Now amazon is putting together plans to make 1-day or
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
even 2-hour delivery happen which will make it even
|\ |\ |\ |\ |\ |\ |\ |\ |\
harder for the Mom-n-Popp shops to compete.
|\ |\ |\ |\ |\ |\
, Moral of this story: Large amounts of wealth and
|\ |\ |\ |\ |\ |\ |\ |\ |\
infrastructure can allow you to get the edge on your |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
competition, and innovation can force entire market |\ |\ |\ |\ |\ |\ |\
segments to follow suit, lest they fall behind. |\ |\ |\ |\ |\ |\ |\
NFL and Nike Court a New Football Market: Girls - WSJ -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔After NFL saw numbers of men's|\ |\ |\ |\ |\ |\ |\ |\
football starting to slow, Nike decided to tap into a new
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
segment to respark business: Women. With new lines of
|\ |\ |\ |\ |\ |\ |\ |\ |\
football gear marketed towards women, demand for these
|\ |\ |\ |\ |\ |\ |\
products and for women in Football have increased.
|\ |\ |\ |\ |\ |\ |\ |\
Moral of this story: In order to get more demand for a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
product, tap into different market segments in order to
|\ |\ |\ |\ |\ |\ |\ |\ |\
get a larger consumer-base.
|\ |\ |\
Move Over, Shareholders: Top CEOs Say Companies Have
|\ |\ |\ |\ |\ |\ |\ |\
Obligations to Society - CORRECT ANSWERS ✔✔- |\ |\ |\ |\ |\ |\
Companies should instead focus on their overall |\ |\ |\ |\ |\ |\ |\
stakeholders (employees, customers, and customers at |\ |\ |\ |\ |\ |\
large) rather than just their shareholders
|\ |\ |\ |\ |\
-Brings in points from Milton Friedman's research.
|\ |\ |\ |\ |\ |\
The Social Responsibility of Business is to Increase its
|\ |\ |\ |\ |\ |\ |\ |\ |\
Profits, by Milton Friedman - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\
Black Rifle Coffee Seeks Like-Minded Aficionados -
|\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔Black Rifle coffee is a company
|\ |\ |\ |\ |\ |\ |\ |\
that marketed their product towards veterans, and shifted
|\ |\ |\ |\ |\ |\ |\
towards Right wing cosumers. By segmenting the market
|\ |\ |\ |\ |\ |\ |\ |\ |\
and focusing on this smaller group of likeminded people,
|\ |\ |\ |\ |\ |\ |\ |\ |\
they were able to get a large share of that specific
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
market.
Ultimate Consumer - CORRECT ANSWERS ✔✔the person
|\ |\ |\ |\ |\ |\ |\
who buys a product for their own use (the final consumer)
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
The four P's of Marketing - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\ |\
✔✔Product, Price, Place, Promotion |\ |\ |\
The Prime Effect: How Amazon's 2-Day Shipping Is
|\ |\ |\ |\ |\ |\ |\ |\
Disrupting Retail - CORRECT ANSWERS ✔✔With its |\ |\ |\ |\ |\ |\ |\
massive amount of wealth and infastructure, Amazon's 2-
|\ |\ |\ |\ |\ |\ |\
Day shipping trademark has become the industry norm.
|\ |\ |\ |\ |\ |\ |\ |\
Now, smaller retailers without the money or warehouses
|\ |\ |\ |\ |\ |\ |\ |\
to offer 2-day shipping, are finding it hard to compete.
|\ |\ |\ |\ |\ |\ |\ |\ |\
Now amazon is putting together plans to make 1-day or
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\
even 2-hour delivery happen which will make it even
|\ |\ |\ |\ |\ |\ |\ |\ |\
harder for the Mom-n-Popp shops to compete.
|\ |\ |\ |\ |\ |\
, Moral of this story: Large amounts of wealth and
|\ |\ |\ |\ |\ |\ |\ |\ |\
infrastructure can allow you to get the edge on your |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
competition, and innovation can force entire market |\ |\ |\ |\ |\ |\ |\
segments to follow suit, lest they fall behind. |\ |\ |\ |\ |\ |\ |\
NFL and Nike Court a New Football Market: Girls - WSJ -
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
CORRECT ANSWERS ✔✔After NFL saw numbers of men's|\ |\ |\ |\ |\ |\ |\ |\
football starting to slow, Nike decided to tap into a new
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
segment to respark business: Women. With new lines of
|\ |\ |\ |\ |\ |\ |\ |\ |\
football gear marketed towards women, demand for these
|\ |\ |\ |\ |\ |\ |\
products and for women in Football have increased.
|\ |\ |\ |\ |\ |\ |\ |\
Moral of this story: In order to get more demand for a
|\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\ |\
product, tap into different market segments in order to
|\ |\ |\ |\ |\ |\ |\ |\ |\
get a larger consumer-base.
|\ |\ |\
Move Over, Shareholders: Top CEOs Say Companies Have
|\ |\ |\ |\ |\ |\ |\ |\
Obligations to Society - CORRECT ANSWERS ✔✔- |\ |\ |\ |\ |\ |\
Companies should instead focus on their overall |\ |\ |\ |\ |\ |\ |\
stakeholders (employees, customers, and customers at |\ |\ |\ |\ |\ |\
large) rather than just their shareholders
|\ |\ |\ |\ |\
-Brings in points from Milton Friedman's research.
|\ |\ |\ |\ |\ |\
The Social Responsibility of Business is to Increase its
|\ |\ |\ |\ |\ |\ |\ |\ |\
Profits, by Milton Friedman - CORRECT ANSWERS
|\ |\ |\ |\ |\ |\ |\
