marketing quiz 1

Which of the following statement is correct about the marketing ROI? - Marketing ROI ignores customer-centered measures of marketing impact, such as customer acquisition and retention. - Marketing ROI cannot be assessed in terms of standard marketing performance measures, such as brand awareness, sales, or market share. - Marketing ROI measures the profits generated by investments in marketing activities.

Marketing ROI measures the profits generated by investments in marketing activities.

Which of the following is the best example of a market development strategy? - Developing new product with company's supplier - Heavily advertising a new-and-improved product model - Selling a company's existing product line into markets not currently served

Selling a company's existing product line into markets not currently served

T/F: A company chooses to divest when products or business units that are unprofitable or no longer fit the company s overall strategy

TRUE

T/F: The two dimensions the BCG approach uses to evaluate and manage SBUs are market growth rate and relative market share.

TRUE

T/F: "Marketing Myopia describes a tendency to define business too narrowly: on the basis of the products the business sells, rather than the needs the business attempts to serve. "

TRUE

What does it mean when a company takes a proactive stance toward the marketing environment?

They develop strategies to change the marketing environment.

Which of the following best describes art and science of choosing target markets and building profitable relationships with them? - marketing managment - positioning - segmentation

marketing management

Which of the following is the best example of a weakness of a company in a SWOT analysis? - an unfavorable economic climate that discourages consumption - the exit of a competitor from the market - obsolete technologies used by the company

obsolete technologies used by the company

Dollar Tree profitably appeals to families with more modest means. The retailer's approach is most likely referred to as ________.

targeting

"Which of the following concepts is composed of the company, its suppliers, its distributors, and its customers?" -value chain - value delivery network - growth-share matrix

value delivery network

"In their marketing campaign, JetBlue puts ""You Above All"" by ""bringing humanity back to travel"" is their ________."

value proposition

Which of the following statements is most likely correct about people's beliefs and values? - Secondary beliefs and values cannot be changed. - Belief in marriage is a secondary belief for most Americans. - Core beliefs and values have a high degree of persistence.

Core beliefs and values have a high degree of persistence.

T/F: "To design a wining market strategy, a company must first decide what product to sell."

FALSE

T/F: """People"" is the one of the 4-Ps of the marketing tool. "

FALSE

T/F: "According to the BCG matrix, products or businesses with a low market share in a high-growth market are classified as STARS. "

FALSE

"In a SWOT analysis, which of the following would most likely be considered an opportunity of a company?" - a favorable economic climate that encourages consumption - higher prices of the company's products resulting from inflation - an improvement in the company's production technology

a favorable economic climate that encourages consumption

The major purpose of conducting Business portfolio analysis is to ________.

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

Starbucks' decision to sell its coffee beans (both whole and ground) in supermarkets using Starbuck's recognized name, logo and, and packaging would represent which of the following brand development strategies? - line extension - brand extension - market penetration - diversification

brand extension

P&G ""Tide Loads of Hope"" program provides mobile laundromats and loads of clean laundry to families in disaster-stricken areas. This is an example of ________ marketing."

cause related

A company begins developing products by first examining users need and then creating products to fulfill those needs. Which of the following best describes this company's approach? - marketing implementation - value-delivery network - customer-driven market strategy

customer driven market strategy

________ is the concept describing total combined customer lifetime values of all the company's current and potential customers.

customer equity

Which of the following concepts refers to a customer's evaluation of the difference between all the benefits and all the costs of a market offering relative to those of competing offers? - customer equity - customer lifetime value - share of customer - customer perceived value

customer perceived value

The overall process of building and maintaining profitable customer relationships by delivering superior customer value and satisfaction is referred to as ________.

customer-relationship management

What is marketing segmentation?

dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors

Describe market targeting

evaluating each market segment's attractiveness and selecting one or more segments to enter

"State Farm® insures manufacturers, distributors, and consumers against the loss or damage of goods during transportation after a purchase or sale. In this case, State Farm® is an example of a ________."

financial intermediary