BADM 320 Exam 1 Study Guide
Questions and Answers
When Coca-Cola develops multiple flavors of soda, develops different can and bottle
designs to fit different soda drinking situation, and they developed a Coca-Cola
brand, they are focusing on which of the four Ps of marketing? - ANSWER-Product
When a firm organizes their store to better serve their customers, and make it easier
for their customers to shop and find products in the store, they are adding value in
which part of the four Ps of marketing? - ANSWER-Place
If a product fails, because potential customers never hear about the product. Where
would the most likely issue be within the 4 Ps of marketing? - ANSWER-Promotion
When firms divide up their customer base, it is called what? - ANSWER-
Segmentation
When a firm only focuses on the product and developing the best product possible in
the firms opinion without considering what the end customer want, what is the main
issue that the firm might have? - ANSWER-Marketing Myopia
Why do marketers fail? - ANSWER-All of these;
- Underestimating the competition.
- Not doing enough research on the market.
- Have the incorrect pricing model.
Which sustainable competitive advantage focuses on creating long-term value for
the customers so they return again and again to business? - ANSWER-Customer
Excellence
When Starbucks buys up as many retail locations as they can in downtown Chicago
to make sure that all the workers have easy access to Starbucks coffee Starbucks is
going for what type of sustainable competitive advantage? - ANSWER-Locational
Excellence
The GIES College of business has a strong human resources department that helps
faculty grow into better researchers and better educators. GIES also have a top-
notch management team whose head was named Dean of the year. Looking at
which type of sustainable competitive advantage is the GIES College of Business
going for? - ANSWER-Operational excellence
Which is a bonus of having long-term loyal customers? - ANSWER-All of these;
- They tend to purchase more products and services
- They are willing to pay more of what they want from the firm.
, - They know how the firm works and require less time and energy answering
questions.
Traditionally the University of Illinois will only receive tuition from students, however
overtime the university added university housing for students, and University
bookstore where students could buy their textbooks, they also started selling
University of Illinois clothing to students as well. In the situation the University of
Illinois is trying to do what? - ANSWER-Increase their share of a students wallet.
Delta airlines knows that college students do not fly a lot of times per year, and that
college students do not show much loyalty to airlines. However, Delta does know
that students are willing to spend a lot of money on flights for spring break. In this
sense, when it comes to Delta Airlines relationship with college students delta would
see college students as part of which customer relationship group? - ANSWER-
Butterflies
Harvard university is one of the most popular and well-known universities in the
world. You can see people wearing Harvard University sweatshirts in every country,
even if none of them actually went to Harvard for school. In terms of the customer
relationship groups, how would Harvard University label the people that buy a
Harvard University sweatshirt but do not actually go to Harvard. The best answer
please. - ANSWER-Barnacles
The Nolan family are huge fans of the University of Illinois, they both went to the
University of Illinois, they sent her son to the University of Illinois, they buy season
tickets to the basketball and football games. The Nolans would be considered in
which customer relationship group by the University of Illinois? - ANSWER-True
Friends
The opportunities and threats that are analyzed in a SWOT analysis are located
where? Inside or outside the firm? - ANSWER-Outside the firm
Ford motors is trying to maintain their 25% market share in the US automobile
industry. Given the situation what type of grand strategy would you assume that Ford
motors is implementing? - ANSWER-Stability Strategy
The BCG matrix divides a firms portfolio of products into different quadrants. The U
of I currently has an online MBA program that is ranked as one of the top online MBA
programs in the world, they also are one of the most popular MBA programs in the
world , And the demand for online education is seem to be growing for the next
decade. Where would you place the University of Illinois online MBA program in the
BCG matrix? - ANSWER-Star
McDonald's has just released their new "McVegan" sandwich. The vegan fast food
industry is growing very quickly due to people's desire to eat healthier, however the
"McVegan" is brand new to the market, behind the rivals Burger King impossible
whopper, and KFC's impossible chicken nuggets. Where would you place the mega
vegan in the BCG matrix for McDonald's portfolio products? - ANSWER-Question
Mark
Questions and Answers
When Coca-Cola develops multiple flavors of soda, develops different can and bottle
designs to fit different soda drinking situation, and they developed a Coca-Cola
brand, they are focusing on which of the four Ps of marketing? - ANSWER-Product
When a firm organizes their store to better serve their customers, and make it easier
for their customers to shop and find products in the store, they are adding value in
which part of the four Ps of marketing? - ANSWER-Place
If a product fails, because potential customers never hear about the product. Where
would the most likely issue be within the 4 Ps of marketing? - ANSWER-Promotion
When firms divide up their customer base, it is called what? - ANSWER-
Segmentation
When a firm only focuses on the product and developing the best product possible in
the firms opinion without considering what the end customer want, what is the main
issue that the firm might have? - ANSWER-Marketing Myopia
Why do marketers fail? - ANSWER-All of these;
- Underestimating the competition.
- Not doing enough research on the market.
- Have the incorrect pricing model.
Which sustainable competitive advantage focuses on creating long-term value for
the customers so they return again and again to business? - ANSWER-Customer
Excellence
When Starbucks buys up as many retail locations as they can in downtown Chicago
to make sure that all the workers have easy access to Starbucks coffee Starbucks is
going for what type of sustainable competitive advantage? - ANSWER-Locational
Excellence
The GIES College of business has a strong human resources department that helps
faculty grow into better researchers and better educators. GIES also have a top-
notch management team whose head was named Dean of the year. Looking at
which type of sustainable competitive advantage is the GIES College of Business
going for? - ANSWER-Operational excellence
Which is a bonus of having long-term loyal customers? - ANSWER-All of these;
- They tend to purchase more products and services
- They are willing to pay more of what they want from the firm.
, - They know how the firm works and require less time and energy answering
questions.
Traditionally the University of Illinois will only receive tuition from students, however
overtime the university added university housing for students, and University
bookstore where students could buy their textbooks, they also started selling
University of Illinois clothing to students as well. In the situation the University of
Illinois is trying to do what? - ANSWER-Increase their share of a students wallet.
Delta airlines knows that college students do not fly a lot of times per year, and that
college students do not show much loyalty to airlines. However, Delta does know
that students are willing to spend a lot of money on flights for spring break. In this
sense, when it comes to Delta Airlines relationship with college students delta would
see college students as part of which customer relationship group? - ANSWER-
Butterflies
Harvard university is one of the most popular and well-known universities in the
world. You can see people wearing Harvard University sweatshirts in every country,
even if none of them actually went to Harvard for school. In terms of the customer
relationship groups, how would Harvard University label the people that buy a
Harvard University sweatshirt but do not actually go to Harvard. The best answer
please. - ANSWER-Barnacles
The Nolan family are huge fans of the University of Illinois, they both went to the
University of Illinois, they sent her son to the University of Illinois, they buy season
tickets to the basketball and football games. The Nolans would be considered in
which customer relationship group by the University of Illinois? - ANSWER-True
Friends
The opportunities and threats that are analyzed in a SWOT analysis are located
where? Inside or outside the firm? - ANSWER-Outside the firm
Ford motors is trying to maintain their 25% market share in the US automobile
industry. Given the situation what type of grand strategy would you assume that Ford
motors is implementing? - ANSWER-Stability Strategy
The BCG matrix divides a firms portfolio of products into different quadrants. The U
of I currently has an online MBA program that is ranked as one of the top online MBA
programs in the world, they also are one of the most popular MBA programs in the
world , And the demand for online education is seem to be growing for the next
decade. Where would you place the University of Illinois online MBA program in the
BCG matrix? - ANSWER-Star
McDonald's has just released their new "McVegan" sandwich. The vegan fast food
industry is growing very quickly due to people's desire to eat healthier, however the
"McVegan" is brand new to the market, behind the rivals Burger King impossible
whopper, and KFC's impossible chicken nuggets. Where would you place the mega
vegan in the BCG matrix for McDonald's portfolio products? - ANSWER-Question
Mark
