MKTG 2c

अब Quizwiz के साथ अपने होमवर्क और परीक्षाओं को एस करें!

"At Trader Joe's, our mission is to provide all our customers the best food and beverage values to be found anywhere, and the information to make informed buying decisions." This is a product-oriented business definition.

False

A company's mission should be stated as making more sales or profits

False

A market segment consists of consumers who respond in different ways to a given set of marketing efforts

False

A mission statement is a document embodying an organization's short-term goals

False

An American airline company started a grocery chain in Australia. This is an example of product development

False

Benchmarking refers to the process that turns marketing plans into marketing actions to accomplish strategic marketing objectives

False

Company growth through diversification involves offering modified or new products to the company's current markets.

False

Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs is known as market diversification

False

On the BCG matrix, "question marks" are high-growth, high-share businesses or products.

False

One valid criticism of the four Ps concept of the marketing mix is that services are not considered.

False

The major activity in strategic planning is product innovation

False

The marketing mix consists of people, property, planning and position.

False

"At Joe's Diner, we serve great burgers" is a product-oriented business definition.

True

A clear mission statement acts as an "invisible hand" that guides people in the organization.

True

A product's position is the place it occupies relative to competitors' products in consumers' minds.

True

Each company department can be though of as a link in the company's internal value chain

True

Market development involves company growth by identifying and developing new market segments for current company products.

True

Mission statements should be market oriented and defined in terms of satisfying basic customer needs.

True

Operating control involves checking ongoing performance against the annual plan and taking corrective action when necessary.

True

Product means the goods-and-services combination the company offers to the target market

True

Return on marketing investment refers to the net return from a marketing investment divided by the costs of the marketing investment

True

The four Cs concept adopts the buyer's view of the market.

True

The four marketing management functions are analysis, planning, implementation, and control

True

The major activity in strategic planning in business portfolio analysis, whereby management evaluates the products and businesses that make up the company

True

The purpose of strategic planning is to find ways in which your company can best use its strengths to take advantage of attractive opportunities in the environment

True


संबंधित स्टडी सेट्स

Med Serge: cardiovascular, hematologic, and lymphatic system

View Set

Redox Reactions & Net Ionic Equations

View Set

Macro Unit 3 Quizzes (Ch. 11, 12, 17)

View Set