MKT 327 Final Exam Questions with 100% Correct Answers | Verified | Updated 2024

MKT 327 Final Exam Questions with 100% Correct Answers | Verified | Updated 2024 Which of the following activities is associated with the strategic framework stage of the marketing planning process? positioning S.W.O.T. target market analysis marketing mix plan marketing control process - answerpositioning Match the following elements of the information foundation with the basic strategic questions that they address. - answertarget market analysis-is organization on code situation analysis & SWOT-is organization on course competitor & SWOT-can organization compete Which of the following elements of a typical marketing information system tends to deal with the analysis and presentation of information as opposed to the collection and analysis of information? A) knowledge management. B) marketing research. C) marketing or competitive intelligence. D) Decision support systems. - answerdecision support systems Which of the analysis procedures below (that are part of the marketing information foundation) provide insights for potential customers and the market at large? situation analysis target market analysis S.W.O.T. analysis competitor analysis marketing audit - answertarget market analysis Sectors of society are to macro marketing as which of the following is to micro marketing. - answerorganizations and customers Which of the following statements defines relationship marketing? - answerLinking the organization to the individual customers, employees, suppliers, and other partners for their mutual long-term benefits. Which of the following is a step in executing a situation analysis A) Segmentation Analysis B) Analyze Macro-market C) Environmental Scanning D) Establish a Competitor's Profile - answerenvironmental scanning A company's long-term plan for using resources to pursue goals and objectives in competitive arenas is called: - answerstrategy Which of the following steps in a strategic marketing plan is part of the information foundation? Positioning Pricing Plan Control Process S.W.O.T. Analysis - answerSWOT analysis Which of the following is an element of a Business Portfolio model? A) Market Development B) Penetration C) Cash Cow D) Positioning - answercash cow Marketing performs its most essential role at three broad levels macro, micro, and personal. At the macro level marketing serves as which of the following? A) social mechanism. B) business function. C) profit center. D) strategic business unit. - answersocial mechanism What is the last step in an Environmental Scan? - answerproject trends Which of the following statements defines marketing (or managerial marketing)? - answerThe activity for creating and delivering offerings that benefit the organization, its stakeholders, and society. Which of the following statements defines a market? (select all that are correct) - answerA collection of individuals or organizations with a common need, and the desire and ability (in terms of accessibility or affordability) to satisfy that need. A location (physical or virtual) where buyers encounter sellers for the purpose of viewing and/or selling their goods or services. Profiling and naming a group of consumers with similar demographic and psychographic characteristics is the _________ step in an _______________ analysis. - answer2nd; segmenta