FREE AND STUDY GAMES ABOUT MKT 300 EXAM 1

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FREE AND STUDY GAMES ABOUT MKT 300 EXAM 1

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -129 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation Question 1: One-to-one marketing which is individualized, information intensive, with a long-term perspective and goal of increasing customer loyalty

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Micromarketing Segmentation Question 2: A group of people seeking products in a specific product category is

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a Market

Question 3: changes are desired in the original product

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Modified rebuy Question 4: Advantage achieved when a firm seeks to target and effectively serve a small segment of the market

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Niche Competitive Advantage

Question 5: A means of displaying or graphing, in two or more dimensions, the location of products, brands, or groups of products in customers' minds.

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Perceptual Mapping Question 6: How to Apply the marketing concept to real-world business situations

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• Gathering market intelligence (what do customer want)
• Disseminating knowledge (share the info)
• Coordinated response (put together the best product)

Question 7: product is purchased for the first time (most involvement)

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New task

Question 8: External environment

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Macro and Micro environment

Question 9: BCG Matrix has

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Star (high market growth and high market share), question mark (high market growth and low market share), cash cow (low market growth and high market share), dog (low market growth and low market share)

Question 10: Competitive advantage equals

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core competencies plus market opportunities /strategic windows Question 11: an marketing management philosophies of the evolution that focus on satisfying customer needs and wants while enhancing individual and societal well-being

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Societal orientation

Question 12: Four targeting strategies

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Undifferentiated, Differentiated, Niche, and Micromarketing

Question 13: Pros of Undifferentiated Targeting

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save production and marketing cost

Question 14: The frame of reference is

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the segment or category in which your company competes Question 15: facets of the market orientation construct: How can we sell more aggressively?

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Sales orientation Question 16: Consumer (B2C):

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Individual demand, smaller volume, many of customers, advertising promotion, single buying influence, simpler negotiations Question 17: Understanding customers better than the competition, Develop long-term customer relationships

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Customer Intimacy (niche market) Question 18: EX: 100 years still one version coke cola is the example of

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undifferentiated segmentation

Question 19: Consolidation strategies

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Retrenchment, Pruning, Divesting

Question 20: a strategy that chooses two or more well- defined market segments and develops a distinct marketing mix for each

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Differentiated Segmentation Question 21: A statement of what is to be accomplished through marketing activities

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Marketing Objectives Question 22: an marketing management philosophies of the evolution that focus on satisfying customer needs and wants

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Marketing orientation

Question 23: Types of competitive advantage

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cost, productive/service differentiation, niche strategies Question 24: The process of evaluating the various segments and then selecting the most viable segment(s) who share a similar set of needs and wants

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Targeting:

Question 25: many internal weaknesses / many external opportunities

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Turnaround

Question 26: (VALS)He is an experiencer and maker is

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self-impression orientation Question 27: Reduce the budget, and Coca-Cola severely reduces the advertising budget and distribution for Coca-Cola Vanilla is the example of

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Retrenchment