MGT 8803 Marketing Exam V with verified solutions
1. A marketing strategy:
| |
- specifies a target market and a related marketing mix.
| | | | | | | |
- provides a focused but narrow picture of what a firm will do in some market.
| | | | | | | | | | | | | |
- is a whole-company plan.includes two interrelated parts--product mix and product
| | | | | | | | |
|development.
- includesthemarketingmix,butdoesnotspecifycustomers.:specifiesatarget market
| | | | | | | | | | | |
| and a related marketing mix.
| | | |
2. ExtremeBoards,a manufacturerofhighperformancesnowboard,carefully
| | | | | | | |
|developed a strategy for moving into South America.The strategy had poor
| | | | | | | | | | |
|resultsafteraneconomicrecessionrapidlydecreasedconsumerspendingin
| | | | | | | | |
|recreational products in most of its South American markets, demonstrating the
| | | | | | | | | |
|influence of the | | | on marketing strategy. | |
- technology
- cultural values |
- customer behaviors |
- external market environment | |
- competitive environment |
- internal company factors | |
- government intervention:external market environment | | | |
3. Which of the following would be a variable in psychographic profiling (developing a
| | | | | | | | | | | |
customer persona).Check all answers that apply(maybe more than one)
| | | | | | | | | | | |
- lifestyle
- values
,- brand loyalty |
- attitudes
- personality
- maritalsta |
tus:lifestyl
|
e values
|
attit
ude
s
|per
son
ality
4. The total stream of purchases that a customer can contribute to the firm over the
| | | | | | | | | | | | | |
|length of the firm-customer relationship is referred to as?
| | | | | | | |
- customer whole value | |
- customer estimated value | |
, - customer lifetime value | |
- customer satisfaction value | |
- customer worth:customer lifetime value | | | |
5. Which of the following is a key function of "positioning" in marketing campaigns
| | | | | | | | | | | |
- To provide a reason why the customer should buy the product.
| | | | | | | | | |
- To divert the customer's attention from the product's flaws.
| | | | | | | |
- To override the customer's previous mindset.
| | | | |
-Todistractthecustomerfromconsideringacompetitor'sproduct.: Toprovide a reason why the customer
| | | | | | | | | | | | | | | |
| should buy the product. | | |
6. Creating differentiation (uniqueness in the minds of the customer) applies specifically to which
| | | | | | | | | | | |
component(s) of the marketingmix? Check all thatapply. Base your answer on class discussion during video
| | | | | | | | | | | | | | | | |
|conferences.
- Product
- Price
- Place
- Promotion:Product Price | |
7. A differentiated product maybe unique in the marketplace but it will onlybe successful under which of the
| | | | | | | | | | | | | | | | | |
|following circumstances. |
- If it satisfies customer needs
| | | |
- If the price difference is minimal
| | | | |
- If the brand can be classified as aspirational
| | | | | | |
- Differentiatedproductswillalwaysbesuccessful: Ifit satisfies customerneeds | | | | | | | | | |
8. Controllable variables that the marketer has to create and harvest demand are referred to as the| | | | | | | | | | | | | | |
- Competitive Offering |
- Marketing Mix |
- The 4 C's | |
1. A marketing strategy:
| |
- specifies a target market and a related marketing mix.
| | | | | | | |
- provides a focused but narrow picture of what a firm will do in some market.
| | | | | | | | | | | | | |
- is a whole-company plan.includes two interrelated parts--product mix and product
| | | | | | | | |
|development.
- includesthemarketingmix,butdoesnotspecifycustomers.:specifiesatarget market
| | | | | | | | | | | |
| and a related marketing mix.
| | | |
2. ExtremeBoards,a manufacturerofhighperformancesnowboard,carefully
| | | | | | | |
|developed a strategy for moving into South America.The strategy had poor
| | | | | | | | | | |
|resultsafteraneconomicrecessionrapidlydecreasedconsumerspendingin
| | | | | | | | |
|recreational products in most of its South American markets, demonstrating the
| | | | | | | | | |
|influence of the | | | on marketing strategy. | |
- technology
- cultural values |
- customer behaviors |
- external market environment | |
- competitive environment |
- internal company factors | |
- government intervention:external market environment | | | |
3. Which of the following would be a variable in psychographic profiling (developing a
| | | | | | | | | | | |
customer persona).Check all answers that apply(maybe more than one)
| | | | | | | | | | | |
- lifestyle
- values
,- brand loyalty |
- attitudes
- personality
- maritalsta |
tus:lifestyl
|
e values
|
attit
ude
s
|per
son
ality
4. The total stream of purchases that a customer can contribute to the firm over the
| | | | | | | | | | | | | |
|length of the firm-customer relationship is referred to as?
| | | | | | | |
- customer whole value | |
- customer estimated value | |
, - customer lifetime value | |
- customer satisfaction value | |
- customer worth:customer lifetime value | | | |
5. Which of the following is a key function of "positioning" in marketing campaigns
| | | | | | | | | | | |
- To provide a reason why the customer should buy the product.
| | | | | | | | | |
- To divert the customer's attention from the product's flaws.
| | | | | | | |
- To override the customer's previous mindset.
| | | | |
-Todistractthecustomerfromconsideringacompetitor'sproduct.: Toprovide a reason why the customer
| | | | | | | | | | | | | | | |
| should buy the product. | | |
6. Creating differentiation (uniqueness in the minds of the customer) applies specifically to which
| | | | | | | | | | | |
component(s) of the marketingmix? Check all thatapply. Base your answer on class discussion during video
| | | | | | | | | | | | | | | | |
|conferences.
- Product
- Price
- Place
- Promotion:Product Price | |
7. A differentiated product maybe unique in the marketplace but it will onlybe successful under which of the
| | | | | | | | | | | | | | | | | |
|following circumstances. |
- If it satisfies customer needs
| | | |
- If the price difference is minimal
| | | | |
- If the brand can be classified as aspirational
| | | | | | |
- Differentiatedproductswillalwaysbesuccessful: Ifit satisfies customerneeds | | | | | | | | | |
8. Controllable variables that the marketer has to create and harvest demand are referred to as the| | | | | | | | | | | | | | |
- Competitive Offering |
- Marketing Mix |
- The 4 C's | |
