CSUF MKTG 351 Behairy Exam
1 Questions and Complete
Solutions Graded A+
production philosophy - Answer: focus on production; price is dominant criteria for customers
product philosophy - Answer: focus on quality as dominant criteria
sales philosophy - Answer: emphasize push and hard selling
marketing philosophy - Answer: focus on customer's wants and needs; achieve long term goals
societal philosophy - Answer: focus on societal good; customer's wants may not be good for society
customer value - Answer: value customers derive from a product or service
what are some examples of customer values? - Answer: time savings, ease of use, convenience, quality,
free shipping, etc.
customer satisfaction - Answer: evaluation of extent to which product or service has met expectations
relationship marketing - Answer: develop and enhance long-term relationships with customers
which is cheaper to implement: retaining existing customers or acquiring new customers? - Answer:
retaining existing customers
what is Ansoff's Strategic Opportunity Matrix? - Answer: matching products and markets, either new or
existing, to represent opportunities for an organization
, market penetration - Answer: same product, same market
what do you adjust when enacting market penetration? - Answer: the 4 P's of marketing
market development - Answer: same product, new market
what's the most common example of market development? - Answer: expanding into an international
market
if the target demographic has changed, the ____ has changed - Answer: market
product development - Answer: new product, same market
diversification - Answer: new product, new market
which of the 4 opportunities in Ansoff's Matrix is the riskiest option in the short-term? - Answer:
diversification
why do companies diversify? - Answer: to not put all their eggs in one basket
what does SBU stand for? - Answer: strategic business unit
strategic business unit - Answer: a division, product line, or other profit center within the parent
company
the focus of the BCG matrix is to have a ____ portfolio - Answer: well-balanced
the BCG matrix has 4 product types: ____, ____, ____, and ____ - Answer: problem children, stars, cash
cows, dogs
1 Questions and Complete
Solutions Graded A+
production philosophy - Answer: focus on production; price is dominant criteria for customers
product philosophy - Answer: focus on quality as dominant criteria
sales philosophy - Answer: emphasize push and hard selling
marketing philosophy - Answer: focus on customer's wants and needs; achieve long term goals
societal philosophy - Answer: focus on societal good; customer's wants may not be good for society
customer value - Answer: value customers derive from a product or service
what are some examples of customer values? - Answer: time savings, ease of use, convenience, quality,
free shipping, etc.
customer satisfaction - Answer: evaluation of extent to which product or service has met expectations
relationship marketing - Answer: develop and enhance long-term relationships with customers
which is cheaper to implement: retaining existing customers or acquiring new customers? - Answer:
retaining existing customers
what is Ansoff's Strategic Opportunity Matrix? - Answer: matching products and markets, either new or
existing, to represent opportunities for an organization
, market penetration - Answer: same product, same market
what do you adjust when enacting market penetration? - Answer: the 4 P's of marketing
market development - Answer: same product, new market
what's the most common example of market development? - Answer: expanding into an international
market
if the target demographic has changed, the ____ has changed - Answer: market
product development - Answer: new product, same market
diversification - Answer: new product, new market
which of the 4 opportunities in Ansoff's Matrix is the riskiest option in the short-term? - Answer:
diversification
why do companies diversify? - Answer: to not put all their eggs in one basket
what does SBU stand for? - Answer: strategic business unit
strategic business unit - Answer: a division, product line, or other profit center within the parent
company
the focus of the BCG matrix is to have a ____ portfolio - Answer: well-balanced
the BCG matrix has 4 product types: ____, ____, ____, and ____ - Answer: problem children, stars, cash
cows, dogs
