MRKT 341 Exam 1

Cylog, a leading provider of personal computer systems, began manufacturing tablet devices after predicting a future consumer need for portability. Which of the following was most likely implemented by Cylog?

customer-driving marketing

Marketing intermediaries supply resources needed by a company to produce its goods and services.

false

Marketing is primarily concerned with engaging customers and secondarily with managing profitable customer relationships.

false

When sellers pay less attention to the specific products they offer and more attention to the benefits and experiences produced by these products, they suffer from marketing myopia.

false

Which of the following is most likely categorized as a business market?

firms that buy goods and services for further processing

According to the BCG matrix, products or businesses with a high market share in a high-growth market are classified as ________.

stars

Which of the following is most likely a financial public?

stockholder

American Honda purchases over $20 billion worth of auto parts and materials every year. ________ are key players in the company's success.

suppliers

Which of the following best describes a company's business portfolio?

the collection of businesses and products that make up the company

Which of the following are examples of internal publics of a company?

the managers, board of directors, and workers of the company

A brand's ________ is the set of benefits that it promises to deliver to consumers to satisfy their needs.

value proposition

Which of the following is a difference between the marketing concept and the selling concept?

The marketing concept focuses on customer needs, whereas the selling concept focuses on existing products.

________ refers to a channel stretching from raw materials to components to final products that are carried to final buyers.

a supply chain

Business portfolio analysis is defined as the process in which management ________.

assesses the attractiveness of an SBU's market and the strength of its position in the market

The final step in the marketing process is ________.

capturing value from customers

The "Stop the Texts. Stop the Wrecks." campaign co-sponsored by the Ad Council and the National Highway Traffic Safety Administration is an example of a marketing offering for a(n) ________.

idea

Demographic, economic, natural, technological, political, and cultural forces form the ________ of an organization.

macroenvironment

The two dimensions the BCG approach uses to evaluate and manage SBUs are ________.

market growth rate and relative market share

Consumers' needs and wants are fulfilled through ________.

market offerings

A strategy for company growth through starting up or acquiring businesses outside the company's current products and markets is called ________.

market penetration