MKT 3401 Module 4 Questions with Correct Answers (Grade A+)
Question 1: moodle essays
Answer: moodle essays
Question 2: A Marketing Strategy Framework is divided into 3 levels:
Answer: Level 1 is Market Analysis, Level 2 is Strategy Development and Level 3 is Implementation.
Question 3: The first part of the market analysis is the _____________. They also need to make sure
their product fits with their company brand and the company operations while understanding financial
capabilities as the company.
Answer: Company
Question 4: a company needs to determine their: (3)
Answer: goals, mission statement and overall philosophy.
Question 5: It is important to examine a company's strengths and weaknesses, as well as the company's
brand and reputation with consumers. Their strengths could be (4): (Also, it needs to be determined if
there are ways of improving on weaknesses.)
Answer: financial, distribution, supply chain, positive brand, and other factors that the company does well.
Question 6: A company needs to take advantage of possible opportunities, such as
______________________, to make sure that they are staying ahead of the competition. And, of course,
a company needs to know about possible threats they could face, such as new
___________________________
Answer: new technology or a new location tariffs and laws or changes in prices.
Question 7: The second part of the market analysis is the ___________________ Companies must
always be aware of current and future competition as well as what the current strategy might be if they
need to innovate to stay current with the changing times
Answer: Competition.
Question 8: what is the focus when dealing with competition ?
Answer: Being smart and ready to make adjustments or changes needs to be a constant focus.
Page 1
,Question 9: this is an example of? For example, Coke and Pepsi have always been rivals competing for
the soft drink consumer. Over the past decades, they have engaged expensive and fierce marketing
campaigns against each other as they marketed their many products. But they were slow to respond
when heath became a high priority for consumers. They were not sagacious in anticipating that water
would become one of their chief competitors. Water would also become a main competitor for many
companies.
Answer: Companies must always beware of who the competition is and where the next level of completion
might come from.
Question 10: this is an example of? For example, there continues to be fierce competition to eliminate
straws used in restaurants and coffee shops. With the growing concerns to reduce the amounts of
plastic straws, consumers are now demanding alternatives to plastic straws. The plastics industry must
confront this challenge and design a product that will be appealing and not threatening to consumers
concerned about the environment. This has presented rich opportunities for paper straws or other
types of non-disposable straws to compete with the plastic straw industry. The ability for a company to
be agile and to have the vision to adapt to changes in consumer preferences will enable them to respond
to new opportunities as they emerge.
Answer: the importance of being aware of the different forms of competition that can be found.
Question 11: this is an example of? For example, LSU is home to the leading football program in
Louisiana. The University has competition from other schools such as Texas A&M and the University
of Georgia. But one of their biggest competitors is the New Orleans Saints of the National Football
League. Even though it is a professional football team, they are competing for fans to purchase tickets
for Saints game or to spend their money at hotels and restaurants in New Orleans and not Baton
Rouge. Because of the rather high cost of football game tickets, fans might have to decide which team
they will support and where their travel money will go.
Answer: competition can be a rival school who tries to capture a rich fan base with highly loyal fans.
Question 12: The third part of a market analysis is the ____________. Companies must learn who their
possible customers are, how they get their information, what benefits are they receiving from the
product they are purchasing, and when and where do they buy.
Answer: Consumer
Question 13: Gathering insightful demographic information can help in targeting and communicating
with a certain population of potential customers. Information is being constantly gathered regarding
consumer's ethnicity, education, nationality, and geographic location. Learning about the age of the
consumer is also critical and can be broken down by categories such as (5):
Answer: Senior Citizens, Baby Boomers, Generation X, Millennials, Generation Z
Page 2
, Question 14: According to a Wall Street Journal article, there are _____ million members of
_______________, those people born around 1997. Of that population, approximately ____ million are
now adults and preparing to enter the workforce where they have many purchase decisions that need to
be made. There are many characteristics that describe Gen Z and this information can be used by
companies as they try to appeal to them. Understanding the profile of how each age group differs is
helpful in deciding which segment of the population to pursue.
Answer: 67 Generation Z 17
Question 15: this is an example of? For example, the NFL's primary consumer base has been on a male
population from early twenties to Baby Boomers. In their attempt to expand their fan base, the NFL
began focusing on women and children ages 8-12. The success of their campaign was that they were
able to grow their female fan base and were able to create a new line of NFL licensed apparel
exclusively for women.
Answer: Focus could also be placed on gender. Although some products are aimed at either male or female
populations, there could be a shift in order to expand market share.
Question 16: this is an example of? Botox, the anti-wrinkle product. Now that they have captured a
large segment of the female population, they are now focusing on males in the range of 40 years old as
they expand their consumer base. Botox was developed as an antiwrinkle treatment for female Baby
Boomers and has been an industry success. Although the leader industry, they are now trying to boost
sales. Their new ad campaign is marketing to younger people and to men. Have a campaign called
Bo-curious. According to the Wall Street Journal, the phrase is similar to the term bicurious which
means "an intense interest in bisexuality" and as the article states, will generate conversation with
people of all ages and gender.
Answer: Focus could also be placed on gender. Although some products are aimed at either male or female
populations, there could be a shift in order to expand market share.
Question 17: The fourth part of a market analysis is __________. These are the factors in the external
environment that are constantly changing. Analysis should be placed on the ___________. These are the
values of the day and how do companies adjust to them.
Answer: Conditions social factors
Page 3
Question 1: moodle essays
Answer: moodle essays
Question 2: A Marketing Strategy Framework is divided into 3 levels:
Answer: Level 1 is Market Analysis, Level 2 is Strategy Development and Level 3 is Implementation.
Question 3: The first part of the market analysis is the _____________. They also need to make sure
their product fits with their company brand and the company operations while understanding financial
capabilities as the company.
Answer: Company
Question 4: a company needs to determine their: (3)
Answer: goals, mission statement and overall philosophy.
Question 5: It is important to examine a company's strengths and weaknesses, as well as the company's
brand and reputation with consumers. Their strengths could be (4): (Also, it needs to be determined if
there are ways of improving on weaknesses.)
Answer: financial, distribution, supply chain, positive brand, and other factors that the company does well.
Question 6: A company needs to take advantage of possible opportunities, such as
______________________, to make sure that they are staying ahead of the competition. And, of course,
a company needs to know about possible threats they could face, such as new
___________________________
Answer: new technology or a new location tariffs and laws or changes in prices.
Question 7: The second part of the market analysis is the ___________________ Companies must
always be aware of current and future competition as well as what the current strategy might be if they
need to innovate to stay current with the changing times
Answer: Competition.
Question 8: what is the focus when dealing with competition ?
Answer: Being smart and ready to make adjustments or changes needs to be a constant focus.
Page 1
,Question 9: this is an example of? For example, Coke and Pepsi have always been rivals competing for
the soft drink consumer. Over the past decades, they have engaged expensive and fierce marketing
campaigns against each other as they marketed their many products. But they were slow to respond
when heath became a high priority for consumers. They were not sagacious in anticipating that water
would become one of their chief competitors. Water would also become a main competitor for many
companies.
Answer: Companies must always beware of who the competition is and where the next level of completion
might come from.
Question 10: this is an example of? For example, there continues to be fierce competition to eliminate
straws used in restaurants and coffee shops. With the growing concerns to reduce the amounts of
plastic straws, consumers are now demanding alternatives to plastic straws. The plastics industry must
confront this challenge and design a product that will be appealing and not threatening to consumers
concerned about the environment. This has presented rich opportunities for paper straws or other
types of non-disposable straws to compete with the plastic straw industry. The ability for a company to
be agile and to have the vision to adapt to changes in consumer preferences will enable them to respond
to new opportunities as they emerge.
Answer: the importance of being aware of the different forms of competition that can be found.
Question 11: this is an example of? For example, LSU is home to the leading football program in
Louisiana. The University has competition from other schools such as Texas A&M and the University
of Georgia. But one of their biggest competitors is the New Orleans Saints of the National Football
League. Even though it is a professional football team, they are competing for fans to purchase tickets
for Saints game or to spend their money at hotels and restaurants in New Orleans and not Baton
Rouge. Because of the rather high cost of football game tickets, fans might have to decide which team
they will support and where their travel money will go.
Answer: competition can be a rival school who tries to capture a rich fan base with highly loyal fans.
Question 12: The third part of a market analysis is the ____________. Companies must learn who their
possible customers are, how they get their information, what benefits are they receiving from the
product they are purchasing, and when and where do they buy.
Answer: Consumer
Question 13: Gathering insightful demographic information can help in targeting and communicating
with a certain population of potential customers. Information is being constantly gathered regarding
consumer's ethnicity, education, nationality, and geographic location. Learning about the age of the
consumer is also critical and can be broken down by categories such as (5):
Answer: Senior Citizens, Baby Boomers, Generation X, Millennials, Generation Z
Page 2
, Question 14: According to a Wall Street Journal article, there are _____ million members of
_______________, those people born around 1997. Of that population, approximately ____ million are
now adults and preparing to enter the workforce where they have many purchase decisions that need to
be made. There are many characteristics that describe Gen Z and this information can be used by
companies as they try to appeal to them. Understanding the profile of how each age group differs is
helpful in deciding which segment of the population to pursue.
Answer: 67 Generation Z 17
Question 15: this is an example of? For example, the NFL's primary consumer base has been on a male
population from early twenties to Baby Boomers. In their attempt to expand their fan base, the NFL
began focusing on women and children ages 8-12. The success of their campaign was that they were
able to grow their female fan base and were able to create a new line of NFL licensed apparel
exclusively for women.
Answer: Focus could also be placed on gender. Although some products are aimed at either male or female
populations, there could be a shift in order to expand market share.
Question 16: this is an example of? Botox, the anti-wrinkle product. Now that they have captured a
large segment of the female population, they are now focusing on males in the range of 40 years old as
they expand their consumer base. Botox was developed as an antiwrinkle treatment for female Baby
Boomers and has been an industry success. Although the leader industry, they are now trying to boost
sales. Their new ad campaign is marketing to younger people and to men. Have a campaign called
Bo-curious. According to the Wall Street Journal, the phrase is similar to the term bicurious which
means "an intense interest in bisexuality" and as the article states, will generate conversation with
people of all ages and gender.
Answer: Focus could also be placed on gender. Although some products are aimed at either male or female
populations, there could be a shift in order to expand market share.
Question 17: The fourth part of a market analysis is __________. These are the factors in the external
environment that are constantly changing. Analysis should be placed on the ___________. These are the
values of the day and how do companies adjust to them.
Answer: Conditions social factors
Page 3
