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Unit 3E
| Question | Answer |
|---|---|
| Marketing strategies are designed and implemented for the overall purpose of | achieving planned goals |
| Which of the following is a consideration in the PLACE element of marketing | Choosing distribution channels |
| Which of the following best describes the role of tactics in marketing strategies | Specific actions |
| Likes to travel a great deal | Psychographic |
| Lives in Florida | Geographic |
| Enjoys water-skiing | Psychographic |
| Is a female | Demographic |
| Shoes made for running | Behavioral |
| Makes $30,000 per year | Demographic |
| Lives in the U.S. | Geographic |
| Shampoo for dry hair | Behavioral |
| Has an outgoing personality | Psychographic |
| Lives in Stanly County | Geographic |
| Companies have been forced to pay more attention to the specific needs of consumers because of | Competition |
| Proctor & Gamble's decision to offer different types of soaps in a wide range of prices is an example of | market segmentation |
| When sellers offer one-size-fits-all products that will appeal to most buyers, they are using | mass marketing |
| Liza has always wanted a horse, and she has finally saved enough money to buy one. In marketing terms, Liza is a | market |
| Marzetti's Musical Instruments has determined that it will focus its marketing efforts on senior high-school students. Marzetti's is engaged in____________. | target marketing |
| The same person can be included in more than one | target market |
| Marketers should check on their markets periodically because markets can | change |
| Sorting customers by their physical and social characteristics is called... | demographic |
| The community college has decided to market its evening classes to women between the ages of 18 and 30 who are high-school graduates. What type of segmentation is the college using? | Demographic |
| Geographic segmentation is dividing a market by where customers are | living |
| When customers respond by making a purchase marketers want to pinpoint the | cause |
| Which question do customers ask in behavioral segmentation? | How will the product benefit me? |
| Which of the following should be included in a marketing plan's executive summary? | The organizations mission statement |
| Which of the following is often included in a marketing plan's situation analysis? | SWOT analysis chart |
| What section of the marketing plan includes information about expected results? | Performance & Implementation |
| Which of the following items might be included in a marketing plan's appendix? | A product photograph |
| A marketing plan should outline the specific activities that the business will use to | achieve its marketing objectives |
| Which of the following is an important benefit of marketing plans? | They can help obtain funding |
| Where in a marketing plan would a business discuss how it plans to communicate with its customers? | Marketing Strategies & Programs |
| Which of the following is a question that a business should answer about its target market while conducting a situational analysis? | What are our customers buying? |
| Which of the following situations presents a business threat to a company? | A competitor obtains a bank loan for expansion |
| Which of the following is an external threat that a company might identify while conducting a situation analysis? | Rising inflation rate |
| A business identifies a market that shares common characteristics on the basis of where people live and work, which is an example of market identification by _________ segmentation. | geographic |
| Businesses that segment the market based on psychographcis are grouping people according to their | lifestyles. |
| Identifying market segments helps a business to develop appropriate | marketing strategies. |
| When a business selects a target market, the most useful or desirable market segments to the business are those that are measurable and | accessible. |
| Selecting a target market based on very specific criteria that limit the audience to a well-defined segment is an example of | niche marketing. |
| When the Green Company selected its target market, it decided to ignore the segment difference and generate appeal with one offer. The company is using _________ marketing. | mass |
| Which of the following is a factor that businesses often consider when conducting a market analysis: | Size of the market next year |
| One of the purposes of conducting a market analysis is to develop a | customer profile |
| When a business conducts a market analysis and identifies territories, determines the possible buyers in the territories, and estimates the buyers' purchases, it is evaluating the | areas market potential |
| What is a potential threat a manager might identify in a SWOT analysis? | A growing government regulation |
| Which of the following questions is it important to ask to determine the businesses strengths when conducting a SWOT analysis: | Where are we making money? |
| Which of the following is a question that a business might ask when it wants to evaluate its weaknesses: | What resources do we lack? |
| One reason why it is often important for businesses to conduct a competitive analysis is to identify | external threats |
| Which of the following is an activity that a business performs when conducting a competitive analysis: | Monitors, Rivals, Marketing Strategies |
| One way that a business can learn about its competitors' activities is by | reviewing secondary data |
| A business that fails to protect its employees for unnecessary risk or health hazards on the job may be sued for | negligence |
| Which of the following types of laws protects a business's inventions or written works from the unauthorized use by others: | Intellectual property |
| The primary reason that governments regulate business activities is to | protect the well-being of individuals and businesses |
| A major advantage of a sole proprietorship is | ease of start up |
| The form of business ownership that can raise money easily is the | corporation |
| A disadvantage of a general partnership is that each partner | is liable for the business's losses |
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