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MKT-315 Midterm Chapters 1 - 4

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MKT-315 Midterm Chapters 1 - 4

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  • May 20, 2022
  • 11
  • 2021/2022
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MKT-315 Midterm Chapters 1 - 4


Chapter 1
Your text here 1

Marketing:

the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging
offerings that have value for customers, clients, partners, and society at large

Marketing Concept:

the business orientation model that involves creating value and satisfying consumer needs

Marketing Mix:

consists of four elements: product, place, price, and promotion, also called the 4 Ps

Marketing Plan:

a tool used to set up various elements of a company's marketing strategies and develops an
accompanying tactical plan

Marketing Strategy:

describes what the business wants to achieve in its marketing efforts

SWOT Analysis

a tool an organization uses to analyze its strengths, weaknesses, opportunities, and threats

What is the process that determines what is needed, how to collect it, analyze it, and use it for effective
market planning? b. marketing information system

Pete's Car Wash will donate 10% of Platinum Car Wash purchases to feed the homeless. This is an
example of ______? C. Cause Marketing

Ginger Jones was reading an interesting newspaper article that discussed the diverse culture of a foreign
land. However, by the time she finished reading the article, she discovered that the content was actually
an advertisement for a travel company. This is an example of ______. C. native advertising

Which is the key strategic decision in formulating a marketing plan? D. all of the above

What is the process called when the wholesalers and manufacturers segment their markets much the
same way as retailers? C. B2B segmentation

The process of developing and executing strategies and tactics to market and sell a product or service to
a very specific target segment is: a. micromarketing

Which of the following options is not used in SWOTT analysis to set a direction in the brand of a highly
competitive marketplace? D. planning

Which of the following is not an economic factor: b. Customer's data

Marketing includes which of the following activities?

Pricing a product

, MKT-315 Midterm Chapters 1 - 4


What is the process called when the wholesalers and manufacturers segment their markets much the
same way as retailers?

B2B segmentation

Which is NOT a key strategic decision in formulating a marketing plan?

Creation of the logo and tagline

Which of the following key perspectives is not considered while performing the situation analysis?

Suppliers

The Marketing Concept Era is designated between:

1960s-1970s

Who is required to have multiple decision-makers in order to appeal to multiple stakeholders for a single
purchase?

B2B marketers

Government regulations, suppliers, competitors, the economy, business trends, finances, and the
weather are? Opportunities and threats?

In the late 1990s, which of the following was third place in the minds and wallets of worldwide
consumers?

MasterCard

The process of developing and executing strategies and tactics to market and sell a product or service to
a very specific target segment is:

Micromarketing

When few sellers control most of the sales, it is:

Oligopoly

Which of the following options is not used in SWOTT analysis to set a direction in the brand of a highly
competitive marketplace?

Segmentation

Which of the following refers to specific, measurable, achievable, relevant, and timely, and pertains to
formulation of organizational objectives that are clear and measurable?

SMART goals

The process of gathering information about events and their relationships within an organization's
internal and external environment is:

Environmental scanning

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