MKT 450 Quiz #3 (9/5)(E1)

As stated in the "What is marketing strategy" video, what is 1 of 3 outcomes of a great marketing strategy? A) Competitive advantage B) 4 Ps C) Understanding of customers D) Market research E) Demographics F) Market Orientation

A) Competitive advantage

Which of the following is like the "music or lighting" in the movie? A) Customer context B) Process C) Attribute Importance D) Preference Levels E) Performance or Satisfaction (SW) F) Improvement Priorities G) Price Sensitivity H) Need-Based Segments I) Demographic Information J) None of the above

A) Customer context

What information examines the "steps" customers take to make an important decision? A) Customer context B) Process C) Attribute Importance D) Preference Levels E) Performance or Satisfaction (SW) F) Improvement Priorities G) Price Sensitivity H) Need-Based Segments I) Demographic Information J) None of the above

B) Process

How does market research (MR) fit with marketing strategy? A) MR leads to higher market share B) MR is based on demographics but should drive the development of marketing strategy C) MR provides understanding of customers in the marketplace D) All of the above are correct E) None of the above are correct

C) MR provides understanding of customers in the marketplace

Why does Coach Garver NOT like the 4 Ps? A) B/c students & practitioners usually start w/ the 4 Ps first B) B/c the focus is on "us" & not the understanding the marketplace first C) B/c it ignores customer acquisition & retention strategies D) B/c it ignores customer relationships E) All of the above F) Coach Garver likes the 4 Ps

E) All of the above

A marketing orientation is all of the following except: A) An organizational culture B) An external market focus C) Using research to make decisions (data-driven making) D) Balanced scorecard approach E) All of the following are part of a market orientation

E) All of the following are part of a market orientation

Which type of information would be an input to a SWOT analysis? A) Customer context B) Process C) Attribute Importance D) Preference Levels E) Performance or Satisfaction (SW) F) Improvement Priorities G) Price Sensitivity H) Need-Based Segments I) Demographic Information J) None of the above

E) Performance or Satisfaction (SW)

When creating a marketing strategy, there are certain types of information that are critical to have. Which one of the following is NOT critical information to have? A) Customer context B) Process C) Attribute Importance D) Preference Levels E) Performance or Satisfaction (SW) F) Improvement Priorities G) Price Sensitivity H) Need-Based Segments I) Demographic Information J) None of the above

I) Demographic Information

Coach Garver believes that strategy has 2 parts, which includes a choice strategy & a _____ strategy.

Retention