COB 300D MARKETING FINAL EXAM WITH ANSWERS

COB 300D MARKETING FINAL EXAM
WITH ANSWERS



Marketing helps create - CORRECT ANSWER-Value
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Production-Oriented Era - CORRECT ANSWER- k k k k


Turn of the 20th century
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Believed a good product would sell itself
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Sales-Oriented Era - CORRECT ANSWER-1920-1950 k k k k k


production and distribution techniques became more sophisticat
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customers consume less or manufacture items themselves.
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Firms responded to their overproduction depending on heavy dos
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es of personal selling and advertising.
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Market-Oriented Era - CORRECT ANSWER-After WWII, k k k k k k


Buyers market (lots of options to buy)
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Value-Based Era - CORRECT ANSWER-- k k k k


Focused on giving the customer what they want, but at a better va
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lue
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You get what you pay for... but price is not the most important fact
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or

SWOT analysis - CORRECT ANSWER-
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strengths, weaknesses, opportunities, threats
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portfolio analysis (BCG matrix) - CORRECT ANSWER-
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stars, cash cows, question marks, dogs
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,Stars - CORRECT ANSWER-
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high market share, high market growth
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Cash Cows - CORRECT ANSWER-
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high market share, low market growth
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Dogs - CORRECT ANSWER-
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low market share, low market growth
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Question Marks - CORRECT ANSWER- k k k k


low market share, high market growth
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market penetration - CORRECT ANSWER-
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selling more of the same to the same types of people (lowest risk)
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market development - CORRECT ANSWER-
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selling the existing products to new types of consumer (medium ri
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product development - CORRECT ANSWER-
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selling new products to existing customers (medium risk)
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diversification - CORRECT ANSWER- k k k


selling new products to new consumer (highest risk)
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Ansoff Growth Matrix - CORRECT ANSWER-
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Segmentation - CORRECT ANSWER- k k k


divide the total market into smaller segments
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geographic segmentation - CORRECT ANSWER- k k k k


Value by region, Market Size, Customer Convenience, Populatio
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n Shifts
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demographic segmentation - CORRECT ANSWER- k k k k


segmenting markets by age, gender, income, ethnic background,
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and family life cycle
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, psychographic segmentation - CORRECT ANSWER- k k k k


segmenting markets on the basis of personality, motives, lifestyle
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geodemographic segmentation - CORRECT ANSWER- k k k k


geographic, demographic, lifestyle k k




Benefit Segmentation - CORRECT ANSWER-
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the process of grouping customers into market segments accordi
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ng to the benefits they seek from the product
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Behavioral Segmentation - CORRECT ANSWER-k k k k


dividing a market into segments based on consumer knowledge,
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attitudes, uses of a product, or responses to a product
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Segment Identification - CORRECT ANSWER-
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Who is in the market
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What are their needs
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Distinct separation of segments
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Segment Substantiality - CORRECT ANSWER-
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segment must be large enough to warrant marketing mix
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Segment Reachability - CORRECT ANSWER-
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Market must be accessed through persuasive communications a
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nd product distribution
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Segment Responsiveness - CORRECT ANSWER-
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Customers reaction must be similar to and positive to the firm's of
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fering

Segment Profitability - CORRECT ANSWER-
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the profitability of a particular type of consumer or market segmen
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t, determined by analyzing the revenues generated through the s
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ale of products and services to that type of consumer or segment
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