MCS*1000 University of Guelph | UPDATED Questions with 100%
Verified Answers
Question:
relational orientation
Answer:
based on the philosophy that buyers and sellers should develop a long-term relationship
Question:
control phase
Answer:
the part of the strategic marketing planning process when managers evaluate the
performance of the marketing strategy and take any necessary corrective actions
Question:
implementation phase
Answer:
the part of the strategic marketing planning process when marketing managers (1)
identify and evaluate different opportunities by engaging in segmentation, targeting, and
positioning and (2) implement the marketing mix using the four Ps
Question:
market development strategy
Answer:
a growth strategy that employs the existing marketing offering to reach new market
segments, whether domestic or international
Question:
market penetration strategy
Answer:
a growth strategy that employs the existing marketing mix and focuses the firm's efforts
on existing customers
Question:
, market segment
Answer:
a group of consumers who respond in a similar way to a given set of marketing efforts
Question:
Market Segmentation
Answer:
the process of dividing a market into meaningful, relatively similar, and identifiable
segments or groups
Question:
relative market share
Answer:
a measure of the product's strength in a particular market, defined as the sales of the
focal product divided by the sales achieved by the largest firm in the industry
Question:
macroenvironmental factors
Answer:
aspects of the external environment that affect a company's business, such as the culture,
demographics, social trends, technological advances, economic situation, and
political/regulatory environment
Question:
affective component
Answer:
the emotional or feeling segment of an attitude
Question:
Behavioural component
Answer:
refers to the way in which an attitude is expressed through our actions
Question:
Verified Answers
Question:
relational orientation
Answer:
based on the philosophy that buyers and sellers should develop a long-term relationship
Question:
control phase
Answer:
the part of the strategic marketing planning process when managers evaluate the
performance of the marketing strategy and take any necessary corrective actions
Question:
implementation phase
Answer:
the part of the strategic marketing planning process when marketing managers (1)
identify and evaluate different opportunities by engaging in segmentation, targeting, and
positioning and (2) implement the marketing mix using the four Ps
Question:
market development strategy
Answer:
a growth strategy that employs the existing marketing offering to reach new market
segments, whether domestic or international
Question:
market penetration strategy
Answer:
a growth strategy that employs the existing marketing mix and focuses the firm's efforts
on existing customers
Question:
, market segment
Answer:
a group of consumers who respond in a similar way to a given set of marketing efforts
Question:
Market Segmentation
Answer:
the process of dividing a market into meaningful, relatively similar, and identifiable
segments or groups
Question:
relative market share
Answer:
a measure of the product's strength in a particular market, defined as the sales of the
focal product divided by the sales achieved by the largest firm in the industry
Question:
macroenvironmental factors
Answer:
aspects of the external environment that affect a company's business, such as the culture,
demographics, social trends, technological advances, economic situation, and
political/regulatory environment
Question:
affective component
Answer:
the emotional or feeling segment of an attitude
Question:
Behavioural component
Answer:
refers to the way in which an attitude is expressed through our actions
Question:
