AGBU 3361 Exam 2: Marketing and Financial
Management for Agribusiness
Characteristics of a market driven organization includes: - ANSWER"Focus on
what the customer needs/wants"
A strategic marketing plan involves which of these marketing activity(ies)? -
ANSWERAll of the above
The last set of marketing activities and decisions in a strategic marketing plan
is to choose a position. - ANSWERFalse
What is not included in SWOT? - ANSWERObjective
Grouping customers according to age, income, and education is called
__________ segmentation. - ANSWERDemographic
_____ segmentation calls for dividing the market into regions, states,
counties, cities or even neighborhoods. - ANSWERGeographic
If clearly definable differences between market segments do not exist the
best market strategy is the: - ANSWERMass market strategy
A market-coverage strategy In which a form decides to target several market
segments and designs separate offers for each is known as _____ marketing -
ANSWERSegmented
The process of creating the desired image in the customer's mind is called
____ - ANSWERPositioning
Pursuing a competitive advantage means that a firm pursues a set of
competencies where the firm has a clear and distinct advantage over the
competition. - ANSWERTrue
Adding a constant margin to the basic cost of an individual product or service
is known as what type of product? - ANSWERCost-Plus Pricing
, When a product if offered at a low price in order to gain broad market
acceptance quickly, it is called ______ pricing. - ANSWERpenetration
The ratio of what customers receive (benefits) relative to what they give up
(costs) is called _____ - ANSWERValue
A price the ends with ".99" is an example of ____ pricing -
ANSWERPsychological
When manufacturers sell their products to dealers, who, in turn, sell products
ion their own local market, it is known as a _____. - ANSWERdealer channel
A nutritional education program for school children is an example of the
public relations aspect of promotion. - ANSWERTrue
Cost of production sets the ____ of the product - ANSWERPrice floor
Smucker's plans to launch a 6-pack case with a unit cost of $12 per case and
wants to earn a 20% markup on its retail sales. How much is the selling price
of Smucker's 6-Pack case? - ANSWER$15.0
The marketing mix includes all of the following except - ANSWERProfit
Advertising that is intended not to promote a particular product but rather to
build goodwill for a total company or industry called ______ advertising -
ANSWERInstitutional
The marketing audit: - ANSWERAnalyzes the current performance of each
product and service the agribusiness firm markets, Review market conditions,
evaluate the overall marketing strategy
A tool to access the difference between desired performance at some point
in the future and what performance will be if the form does not change
marketing strategies is called _____ - ANSWERGap
General economic forecasts could cover/include _____ -
ANSWERGovernment farm programs, inflation, interest rates
A sales forecast that is construed by asking salespeople to develop sales
forecasts fir each of their major accounts is called a _____. - ANSWERBuild-up
forecast
Management for Agribusiness
Characteristics of a market driven organization includes: - ANSWER"Focus on
what the customer needs/wants"
A strategic marketing plan involves which of these marketing activity(ies)? -
ANSWERAll of the above
The last set of marketing activities and decisions in a strategic marketing plan
is to choose a position. - ANSWERFalse
What is not included in SWOT? - ANSWERObjective
Grouping customers according to age, income, and education is called
__________ segmentation. - ANSWERDemographic
_____ segmentation calls for dividing the market into regions, states,
counties, cities or even neighborhoods. - ANSWERGeographic
If clearly definable differences between market segments do not exist the
best market strategy is the: - ANSWERMass market strategy
A market-coverage strategy In which a form decides to target several market
segments and designs separate offers for each is known as _____ marketing -
ANSWERSegmented
The process of creating the desired image in the customer's mind is called
____ - ANSWERPositioning
Pursuing a competitive advantage means that a firm pursues a set of
competencies where the firm has a clear and distinct advantage over the
competition. - ANSWERTrue
Adding a constant margin to the basic cost of an individual product or service
is known as what type of product? - ANSWERCost-Plus Pricing
, When a product if offered at a low price in order to gain broad market
acceptance quickly, it is called ______ pricing. - ANSWERpenetration
The ratio of what customers receive (benefits) relative to what they give up
(costs) is called _____ - ANSWERValue
A price the ends with ".99" is an example of ____ pricing -
ANSWERPsychological
When manufacturers sell their products to dealers, who, in turn, sell products
ion their own local market, it is known as a _____. - ANSWERdealer channel
A nutritional education program for school children is an example of the
public relations aspect of promotion. - ANSWERTrue
Cost of production sets the ____ of the product - ANSWERPrice floor
Smucker's plans to launch a 6-pack case with a unit cost of $12 per case and
wants to earn a 20% markup on its retail sales. How much is the selling price
of Smucker's 6-Pack case? - ANSWER$15.0
The marketing mix includes all of the following except - ANSWERProfit
Advertising that is intended not to promote a particular product but rather to
build goodwill for a total company or industry called ______ advertising -
ANSWERInstitutional
The marketing audit: - ANSWERAnalyzes the current performance of each
product and service the agribusiness firm markets, Review market conditions,
evaluate the overall marketing strategy
A tool to access the difference between desired performance at some point
in the future and what performance will be if the form does not change
marketing strategies is called _____ - ANSWERGap
General economic forecasts could cover/include _____ -
ANSWERGovernment farm programs, inflation, interest rates
A sales forecast that is construed by asking salespeople to develop sales
forecasts fir each of their major accounts is called a _____. - ANSWERBuild-up
forecast
