Marketing Quiz 1
The choice of target market will determine how which of these concepts are designed l?
Answer: Four P's
What are the seven types of customer motivations for using mobile apps?
(Need) me time, socialize, shop, accomplish, prepare, discover, self express
What social media elements work best for each of the 4 Es?
Excite the Customer—social networks like Facebook and Google + Educate the Customer—blogs and blogging tools (e.g., Wordpress and Twitter), HubSpot (all-in-one marketing software), YouTube, and Google +, Experience the Product or Service—YouTube, blogs, and retailer's website Engage the Customer—blogging and microblogging.
What are the 4 E's?
Excitement, education, experience and engagement
Who can preform marketing?
Individuals and organizations
What are some of the most popular types of mobile applications?
Navigation, productivity, books, education, news, entertainment, music, newsstand, social networking, and games
What are the four components of the marketing mix?
Product, Price, Place, Promotion
What are the various eras of marketing?
Production, sales, market, and value-based
What tool helps a marketer conduct a situation analysis?
SWOT analysis
What is STP?
Segmentation, Targeting, Positioning
Does providing a good value mean selling at a low price?
Value-based marketing isn't just about low price, it is also about creating strong products and services.
Is Walmart a conscious marketer or is it a practitioner of CSR?
Yes, It has committed to reducing its carbon footprint (environmental performance), donates more than $1 billion in cash and in-kind items to charitable causes per year (social performance), and still earns strong profits (economic performance).
Which strategy is the riskiest?
diversification
What are the various components of a marketing strategy?
1. A firm's target market(s) 2. A related marketing mix -- four P's 3. The bases on which the firm plans to build a sustainable competitive advantage.
Describe the components of the 7C online marketing framework
1. Care goals 2. Context elements 3. Content 4. Community 5. Communication 6. Commerce 7. Connection
List the four macro strategies that can help a firm develop a sustainable competitive advantage.
1. Customer Excellence 2. Operational Excellence 3. Product Excellence 4. Locational Excellence
What are the five drivers of social media engagement described in the wheel or social media engagement?
1. Information 2. Connected 3. Network 4. Dynamic 5. Timeliness
How are marketers connecting with customers through social and mobile media?
97% of marketers use social media tools for their businesses 4.2 billion people link to some social media sites through their mobile devices
What are the four options for pricing mobile apps?
Ad-supported apps Freemium apps Paid apps + in-app purchases
Which of the following is not a function of marketing's value creation process?
Answer: All of these are part of marketing value creation process
Downloading a chapter of a new book before buying it or listening to a few seconds of a song before purchasing it are examples of what aspect of the 4E framework?
Answer: experience the product
The growth strategy that involves firms to grow by attracting a new market to its existing products is called what
Answer: product penetration
Value creation is the central activity of marketing. Which is not a benefit to the firm from engaging in value creation and the ongoing process of identifying value-adding options for customers?
Answer: the firm is able to sell fewer products
When developing a social media campaign, what is critical and unique about the copy and images used on social media compared to other forms of IMC?
Answer: they need to be updated almost constantly
What are the five steps on creating a marketing plan?
Business mission and objectives, situation analysis and SWOT, identify opportunities, implement marketing mix, evaluate performance using marketing metrics.
What is the definition of marketing?
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
What are the criteria for being a conscious marketer?
triple bottom line: economic, social, and environmental performance
What are the four growth strategies?
market penetration, market development, product development, diversification
What type of strategy is growing the business from existing customers?
market penetration/market development
Marketing is about satisfying ____ and ____.
needs and wants
What do the four quadrants of the portfolio analysis represent?
stars, cash cows, question marks, dogs
