Marketing exam #1

Evolution of marketing

Production orientation-era Sales orientation-era Marketing orientation-era

When a pharmaceutical company develops a new medication, it typically applies for a patent in order to prevent competitors from developing copycat products for several years. Pharmaceutical companies apply for patents to establish

a sustainable competitive advantage.

Which of the following would be considered informational content on a website?

audio

Which of the following descriptions embodies conscious marketing principles?

both ethically and socially responsible

In BCG portfolio analysis, products in low-growth markets that have received heavy investment and now have excess funds available to support other products are called

cash cows

Individuals achieve the _____________ effect when they check in, post a picture to Instagram, upload a video to YouTube, or share a link to an article they have liked on Facebook.

connected

David is considering the question, "Did our actions have a negative impact on any stakeholder group?" David is addressing marketing ethical issues in the ________ phase of the strategic marketing planning process.

control

Marketing planning

define the strategic mission of the organization good mission statement market oriented include distinctive competencies specific realistic

Larry is asked to conduct an STP analysis for his firm. The first step he should perform in this analysis is to

divided the marketplace into subgroups

According to one definition, CSR can be described as context-specific actions and policies, taking stakeholders' expectations into account, to achieve what is referred to as the triple bottom line. The triple bottom line includes ________ performance.

economic, social, and environmental

Greg sees that his company's quarterly sales and profits are significantly above projections and says, "That's great. Let's keep doing what we've been doing." Greg is ignoring the ________ step of the marketing planning process.

evaluate performance

It is not unusual to see firms offering free product samples in grocery stores to let customers try the product before buying it. Similarly, in today's world of digital marketing, one can read a chapter of a book before buying it, or watch YouTube videos on different ways to use a product. All of these scenarios are aimed at which aspect of the 4E framework?

experience

Companies can find out a lot about customers using sentiment analysis on sites like Facebook and Twitter, or put another way, by

listening

The activity, set of institutions, and processes for creating, capturing, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large is called

marketing

________ represents all the activities necessary to get the product to the right customer when that customer wants it.

place

A former advertising campaign for GEICO Insurance used the slogan "So easy, even a caveman could do it" to emphasize the ease of buying insurance on GEICO's website. This campaign was part of GEICO's

positioning strategy

When a T-shirt manufacturer states, "We sell it only in black because that way we can buy plenty of black fabric and run our plant efficiently," its statement reflects the views that were popular in which era of the evolution of marketing?

production-oriented

All of the following terms are generally associated with the definition of corporate social responsibility except

profit

________ is communication by a marketer that informs, persuades, and reminds potential buyers about a product or service so as to influence their opinions and elicit a response.

promotion

The prevailing marketing strategy of the ________ era was to find customers for inventories that went unsold.

sales- oriented

Manufacturers, retailers, and service providers have created and maintain websites, blogs, and _________to enable customers to interact with them over the Internet.

social media presence

Fernando was thrilled to find out that his company had just decided to invest a great deal of money in the product he was managing. He knows that even with its recent high rate of growth and the fact that it dominates its market, he would need more money to establish it firmly. Using the BCG portfolio analysis, his product would be classified as a(n)

star

Elements of a strategic marketing plan

target customers which customers needs and wants can we best satisfy marketing mix marketing position how we build a competitive advantage

After identifying various market segments that her company could pursue, Linda evaluated each segment's attractiveness based on size, income, and accessibility. Linda was involved in

target marketing

How might Starbucks ensure that it behaves in a socially responsible way toward members of its supply chain?

It can purchase coffee beans from suppliers who pay coffee growers a fair price.

Types of utility

form, place, time, possession