MKTG 396 2.0 EXAM QUESTIONS WITH CORRECT
WELL DETAILED ANSWERS
Product/market expansion grid - ✔✔a portfolio-planning tool for identifying company growth
opportunities through market penetration, market development, product development, or
diversification
market penetration - ✔✔company growth by increasing sales of current products to current market
segments without changing the product
market development - ✔✔company growth by identifying and developing new market segments for
current company products
product development - ✔✔A strategy for company growth by offering modified or new products to
current market segments
Diversification - ✔✔company growth through starting up or acquiring businesses outside the company's
current products and markets
Downsizing - ✔✔Reducing the business portfolio by eliminating products or business units that are not
profitable or that no longer fit the company's overall strategy
Value Chain - ✔✔the series of internal departments that carry out value-creating activities to design,
produce, market, deliver, and support a firm's products
value delivery network - ✔✔a network composed of the company, suppliers, distributors, and,
ultimately, customers who partner with each other to improve the performance of the entire system in
delivering customer value
marketing strategy - ✔✔the marketing logic by which the company hopes to create customer value and
achieve profitable customer relationships
, Market Segmentation - ✔✔Dividing a market into distinct groups of buyers who have different needs,
characteristics, or behaviors, and who might require separate products or marketing programs
market segment - ✔✔a group of consumers who respond in a similar way to a given set of marketing
efforts
marketing target - ✔✔the process of evaluating each market segment's attractiveness and selecting one
or more segments to enter
Positioning - ✔✔Arranging for a product to occupy a clear, distinctive, and desirable place relative to
competing products in the minds of target consumers
differentiate - ✔✔(v.) - to distinguish, to make different
Marketing Mix - ✔✔Product, Price, Place, Promotion
SWOT analysis - ✔✔strengths, weaknesses, opportunities, threats
- an overall evaluation of the companies
Marketing Implementation - ✔✔turning marketing strategies and plans into marketing actions to
accomplish strategic marketing objectives
marketing control - ✔✔measuring and evaluating the results of marketing strategies and plans and
taking corrective action to ensure that the objectives are achieved
Marketing ROI - ✔✔the net return from a marketing investment divided by the costs of the marketing
investment
Marketing - ✔✔the process by which companies create value for customers and build strong customer
relationships in order to capture value from customers in return
WELL DETAILED ANSWERS
Product/market expansion grid - ✔✔a portfolio-planning tool for identifying company growth
opportunities through market penetration, market development, product development, or
diversification
market penetration - ✔✔company growth by increasing sales of current products to current market
segments without changing the product
market development - ✔✔company growth by identifying and developing new market segments for
current company products
product development - ✔✔A strategy for company growth by offering modified or new products to
current market segments
Diversification - ✔✔company growth through starting up or acquiring businesses outside the company's
current products and markets
Downsizing - ✔✔Reducing the business portfolio by eliminating products or business units that are not
profitable or that no longer fit the company's overall strategy
Value Chain - ✔✔the series of internal departments that carry out value-creating activities to design,
produce, market, deliver, and support a firm's products
value delivery network - ✔✔a network composed of the company, suppliers, distributors, and,
ultimately, customers who partner with each other to improve the performance of the entire system in
delivering customer value
marketing strategy - ✔✔the marketing logic by which the company hopes to create customer value and
achieve profitable customer relationships
, Market Segmentation - ✔✔Dividing a market into distinct groups of buyers who have different needs,
characteristics, or behaviors, and who might require separate products or marketing programs
market segment - ✔✔a group of consumers who respond in a similar way to a given set of marketing
efforts
marketing target - ✔✔the process of evaluating each market segment's attractiveness and selecting one
or more segments to enter
Positioning - ✔✔Arranging for a product to occupy a clear, distinctive, and desirable place relative to
competing products in the minds of target consumers
differentiate - ✔✔(v.) - to distinguish, to make different
Marketing Mix - ✔✔Product, Price, Place, Promotion
SWOT analysis - ✔✔strengths, weaknesses, opportunities, threats
- an overall evaluation of the companies
Marketing Implementation - ✔✔turning marketing strategies and plans into marketing actions to
accomplish strategic marketing objectives
marketing control - ✔✔measuring and evaluating the results of marketing strategies and plans and
taking corrective action to ensure that the objectives are achieved
Marketing ROI - ✔✔the net return from a marketing investment divided by the costs of the marketing
investment
Marketing - ✔✔the process by which companies create value for customers and build strong customer
relationships in order to capture value from customers in return
