AGEC 340 Exam 2 Questions With Complete Solutions

AGEC 340 Exam 2 Questions With Complete
Solutions
____ |is |defined |as |the |process |of |anticipating |the |needs |of |targeted |customers |and |finding |
ways |to |meet |those |needs |profitably |- |CORRECT |ANSWER✔✔-Marketing



Organizations |that |focus |primarily |on |communicating |the |benefits |of |their |products |are__-
driven |- |CORRECT |ANSWER✔✔-sales



Well-defined |market |segment |will |have |what |three |characteristics |- |CORRECT |ANSWER✔✔-
measurable

substantive

actionable



God |marketers |recognize |that |"one |size |does |not |fit |all" |and |focus |their |efforts |on |the |unique |
needs |of |specific |___ |markets |- |CORRECT |ANSWER✔✔-target



what |keys |decisions |must |a |marketer |make |(also |known |as |the |marketing |mix) |- |CORRECT |
ANSWER✔✔-product

price

promotion

place



A |strategic |marketing |plan |involves |which |of |these |marketing |activity(ies)



a. |choose |a |target |maket

, b. |develop |the |appropriate |marketing |mix

c. |choose |a |position

d. |all |of |the |above |- |CORRECT |ANSWER✔✔-d



what |is |not |included |in |the |SWOT |analysis?



a. |strengths

b. |weaknesses

c. |objectives

d. |threats |- |CORRECT |ANSWER✔✔-c. |objective



Grouping |customers |according |to |age, |income, |and |education |is |called |___ |segmentation



a. |Geographic

b. |Demographic

c. |Operating |characteristics

d. |psychographic |- |CORRECT |ANSWER✔✔-b. |demographic



The |process |of |creating |the |desired |image |in |the |customer's |mind |is |called:



a. |competitive |advantage

b. |differential |advantage

c. |cost |advantage

d. |none |of |the |above |- |CORRECT |ANSWER✔✔-d