MARK 460 EXAM 1 - ARMBRISTER UPDATED ACTUAL QUESTIONS AND CORRECT ANSWERS

MARK 460 EXAM 1 - ARMBRISTER UPDATED ACTUAL
QUESTIONS AND CORRECT ANSWERS
Question:
MARK 460 EXAM 1 - ARMBRISTER
AND CORRECT ANSWERS
belief/image of someone because of where
Market Penetration:
1
Esteem:
3




Answer:
UPDATED ACTUAL QUESTIONS
they are from

, Cultural Stereotyping:
2
Diversification:
4

Question:
GATT (General Agreement on Tariffs and Trade)
Answer:
- Established in 1946
- Most Favored Nation (provided rules for discrimination, transparency, and
settlement of disputes for international trade)
- Became less effective over time

Question:
WTO (World Trade Organization)
Answer:
- Established in 1995
- Succeeded GATT
- Promotes world trade by reducing tariffs/barriers
- Negotiates to reassess trade barriers
- Establish rules for trade
- Imposes trade sanctions
- Mediates trade disputes
- Improvements in trade/investment flows

Question:
Responsibilities of Marketing Managers
Answer:
- Day-to-day operations
- Environmental scanning & analysis
- Strategic input including vision, mission, and values, and direction
- Establishing business objectives and goals
- Developing customer value propositions & the marketing strategies that deliver
them
- Accountability for the sustainable competitive advantage

Question:
T/F:
A company's most loyal customers are the most
profitable customers.
Answer:
FALSE

Question:
Role of Marketing in Organizations
Answer: