CCTC EXAM 2 ACTUAL TEST QUESTIONS AND SOLVED ANSWERS

CCTC EXAM 2 ACTUAL TEST QUESTIONS
AND SOLVED ANSWERS

◉ product/market expansion grid.
Answer: used to identify growth opportunities


◉ market penetration.
Answer: company growth by increasing market share among
existing customers without changing products being sold


◉ Market Development.
Answer: company growth by identifying and developing new market
segments (demographic or geographic) for current company
products


◉ product development.
Answer: company growth by offering modified or new products to
current market segments


◉ diversification.
Answer: company growth through starting up or acquiring
businesses outside the company's current products and markets

,◉ strategy formulation steps.
Answer: - what do we know
- what do we want to accomplish
- how will we do it


◉ Marketing Management Analysis.
Answer: Planning - Develop strategic plans, develop marketing plans


Implementation - Carry out the plans


Control - Measure the results, evaluate results, and take corrective
action


◉ marketing plan.
Answer: 1. executive summary
2. current marketing situaton
3. SWOT analysis
4. objectives
5. marketing strategy: STP and 4 Ps
6. action programs
7. budgets

, 8. controls


◉ SWOT analysis.
Answer: strengths, weaknesses, opportunities, threats


◉ STP.
Answer: Segmentation, Targeting, Positioning


◉ successful marketing implementation.
Answer: - company culture
- employees' shared beliefs and values
- organizational structure
- reward system


**personal relationship or luck will favor over plans


◉ actual vs expected performance.
Answer: corrective action is needed to meet goals (marketing
control)


◉ segmentation.