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Mktg 3310
Chapter 1-5
| Question | Answer |
|---|---|
| When a toothpaste manufacturer divides the marketplace into smaller targets based on benefits sought by consumers, this is an example of market? | Market segment |
| If a car manufacturer wanted to segment its marketplace, it would do which of the following? | Divide consumers into groups based on their incomes Organize potential customers into groups based on their age Identity customer needs for different types of cars (such as sports cars, SUVs, and family sedans) |
| Which of the following are related to marketing in the production-oriented era? (Choose every correct answer.) | - Manufacturers were concerned with product innovation, not with satisfying the needs of individuals - Retail stores were considered places to hold inventory until it was sold. |
| What were the primary characteristics of the market-oriented era that followed World War II? | Products were designed to focus on consumers' needs. It was a buyer's market. |
| Marketing | the activity, sets of institutions, delivering and exchange offerings that have value for a customer |
| Market plan | achieve long-term goals that the firm developed |
| marketing mix | - communication value ( promotion) - Creating value(product) - Delivering value (place) - Capturing value ( price) |
| Marketing Analytics | - Modern marketers rely on sophisticated data analytics to define and refine their approaches to their customers and their markets. |
| Social and mobile marketing | - new technologies such as social and mobile media to allow them to connect better with their customers and thereby serve their needs more effectively. |
| Ethical and societal dilemma | - focus is healthier food options and safer products - Trade-off between sustainability by reducing strays - Accessible use of products for disabilities, elderly people, and children |
| A firms marketing strategy identifies a firm's target markets, its four Ps, and ------- | method of sustainable competitive advantage |
| all of the following are macro strategies to develop customer value and build sustainable competitive advantages except ----? | Market position excellence |
| which is not the following of sustainable competitive advantage? | It should be easy for competitors to match |
| which of the following would be a factor in providing operational excellence? | strong supply chain management |
| Many firms are developing websites and entering into e-commerce. This is to improve their-- excellence | locational |
| what are the three phases of a marketing plan? | planning, implementation, and control |
| . "Starbucks aims to inspire and nurture the human spirit—one person, one cup, and one neighborhood at a time." This reflects Starbuck's _______. | mission statement |
| . Performing a situation analysis (SWOT) occurs at which phase of a marketing plan? | second step in the strategic planning process |
| Which of the following would NOT occur during the implementation phase of a marketing plan? | identifying the business mission |
| To evaluate the effectiveness or performance of a marketing strategy, firms typically use ________. | marketing metrics |
| a firm's reputation for high-quality products is an --- for the firm | strength |
| A local coffee shop is known for poor customer service and an unclean, dirty environment. These would be classified as ______ in a SWOT analysis. | weaknesses |
| Strengths and weaknesses are _______ factors to a firm while opportunities and threats are _______ factors to a | internal; external |
| Your company markets baby products, but the birthrate has been steadily dropping for the past 10 years. This represents a(n) _________ in a SWOT analysis. | threat |
| One key _________ for many firms is the economic development occurring in many nations which allows for global expansion into new markets. | opportunity |
| . Marriott Hotels recognizes that there are different groups of travelers with different needs, wants and characteristics in their choice of lodging. The process of dividing Marriott's market into these groups is | market segmentation |
| 2. Most firms cannot cater to the needs of everyone. This is why it is important that marketers engage in ________ to find groups of consumers with different needs and wants they might serve. | market segmentation |
| in delivering value to customers, which of the four Ps is the most important | all of the 4 Ps are of equal importance |
| . Which element of the marketing mix relates to how companies tell consumers about their products and define their image in the marketplace? | place |
| In setting a product's price, marketers must be careful not to set it too high, or too low. Ultimately, price is directly related to the ________; a customer has to feel he is getting a good deal if a company wants to win him over. | customer's perceived value |
| In the expanding e-reader market, consumers can access books online using products like Amazon's Kindle and Apple's iPad. This easy access to books represents _______ value | place |
| A retail chain is increasing its advertising and offering discounts to increase sales among its current customers. This represents a ______ strategy. | market penetration |
| Market penetration and product development strategies are both focused on a firm's _______ markets. | current |
| In 1999 Coca-Cola developed Dasani bottled water to reach a new market for the company—bottled water drinkers. In doing this Coca-Cola pursued a _______ strategy. | diversification |
| . MTV is constantly adding new shows and programming to increase the amount of time its current viewers spend watching the channel. In doing this, MTV is using a _______ strategy. | product development |
| Which element of the 4E framework for social media marketing relates to a customer's potential for action, the potential for a relationship, and possibly even loyalty and commitment? | engagement |
| Websites that show potential customers how to use a product or offer tutorials are directly related to which element of the 4E framework of social media marketing? | experience |
| . Marketers gain insight about their customers by using information gathered through customer relationship management and loyalty programs. This information helps marketers to ______ customers by providing offers that are relevant to them | excite |
| As potential customers enter websites and online stores, marketers need to ______ them about the value proposition and the offers and benefits of a product or service. | educate |
| As a social network site, Facebook gives companies a forum for interacting with their fans when they post product information, news, events, and promotions. In doing so, companies are utilizing which element of the 4E framework for social | excite |
| . Sites like YouTube and Picasa are considered | media sharing sites |
| Websites that are those written by people who review and give recommendations on products and services are called | microblog |
| In the United States, approximately _______of smartphone users use their phones to make purchases | 50% |
| The process of building customer loyalty through the offering of free apps is referred to as _______. | gamification |
| Marketers who want to assess what their customers think about their goods and services can collect data from blogs, social media sites, and online reviews. This process is called _______ analysis. | sentiment |
| Kendra was shopping online for a new backpack for school. The first website she visited luggage and only one travel backpack, so Kendra left that site Which of the following metrics for analyzing online activity would marketers | bounce rate |
| Which of the following metrics for analyzing online activity shows how users proceed through information on a website | click paths |
| Marketers often scan social media to learn more about what customers think. ________ is a technique in which data from a variety of online sources is used to collect consumer comments about companies and their products. | sentiment analysis |
| One important metric when analyzing social media effectiveness is ________ the percentage of visitors or potential customers who take the action the marketer wanted them to take. | conversion rates |
| 1. are free to download, but appear as ads on the screen; they generate revenue while users interact with the app. ( Ad- supported apps) | ad-supported apps |
| . Which app would help consumers fulfill their "need to accomplish" | Myfitpal |
| Amery has been wearing Redman Shoes for years and often posts suggestions for product improvements on the company’s website. Which of the 7Cs of online marketing has this company accomplished | Contextual elements |
| At the Sol Wave House hotel, located on the beautiful island of Majorca, Spain, a Twitter concierge stays in constant contact with guests. If a guest has a problem or question, the answer is just a hashtag away. | Dynamic effect |
| Kari downloaded the Wordscapes app for free. While playing, she can purchase additional coins that she can use to solve the puzzles. What type of app pricing model does Wordscapes use? | freemium apps |
| How is the cost to companies and entrepreneurs using Google Analytics calculated? | free for everyone |
| When a company runs a contest online, it will measure its effectiveness in a variety of ways. One such measure is the conversion rate.The conversion rate for an online contest promotion would be | ( percentage of visitors who enter the contest) |
| One important measure of social media's effectiveness is the percentage of site visitors who take the action the site owner hoped for—making a purchase, subscribing to a service, or donating money, for example. This measure is called the site's | conversion rate |
| The marketing team at a foreign import company is studying data that shows how customers navigate their website. The team needs to find ways to improve the site and make it easier for customers to find what they need. | click paths |
| A business would use a paid search as a way to | appear higher up in the search results |
| Companies can find out a lot about customers by listening to (and monitoring) what they say on their social networks, blogs, review sites, and so on. One technique that firms use to monitor such activity is called ________ analysis | sentiment |
| A national hotel chain asked its Twitter followers to send in ideas for new room service menu items. The three most-popular items will be added to the menu next year. What technique is the company using to build community? | excite |
| Carl has developed a medication vial for travelers. He has a website that has resulted in some orders, but he is not sure how people are finding the site. What technique can Carl use to learn how people search for products like his? | keywords |
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