TTU BA-3301 Exam 1 (Fundamentals of Marketing
Modules 1-3) Questions With Complete Solutions
_____ includes many different activities marketers undertake to
inform consumers about their products and to encourage
potential customers to buy these products. Correct Answers
Promotion
_____ is a portfolio analysis model developed by the Boston
Consulting Group that assesses the potential of successful
products to generate cash that a firm can then use to invest in
new products. Correct Answers BCG
growth-market
share matrix
_____ is the industry term for inventory and cash losses from
shoplifting damage to merchandise, and employee theft. Correct
Answers Shrinkage
_____ occurs when someone voluntarily offers payments to get
an illegal advantage. Correct Answers Bribery
_____ refers to the availability of the product to the customer at
the desired time and location. Correct Answers Place
A ________ includes all possible customers in a market Correct
Answers mass market
A ________ refers to the group of different products or brands
owned by an organization and characterized by different
, income-generating and growth capabilities. Correct Answers
business portfolio
A distinctive group of customers within a larger market who
have some similarity but whose needs differ from other
customers is known as a _____. Correct Answers market
segment
A document that describes the marketing environment, outlines
the marketing objectives and strategy, and identifies who will be
responsible for carrying out each part of the marketing strategy
is known as a(n) _____ plan. Correct Answers marketing
A firm seeking a growth strategy designed to increase sales of
existing products to current customers, nonusers, and users of
competitive brands in served markets would utilize which of the
following marketing strategies? Correct Answers Market
penetration
A marketplace offering that fairly and accurately sums up the
value that the customer will realize if he or she purchases the
product or service is known as a(n) _____. Correct Answers
value proposition
A process of determining just how much value an organization's
marketing activities create and their impact on the bottom line is
known as _____ Correct Answers accountability
A product can be all of the following, except a(n) _____.
Correct Answers price
Modules 1-3) Questions With Complete Solutions
_____ includes many different activities marketers undertake to
inform consumers about their products and to encourage
potential customers to buy these products. Correct Answers
Promotion
_____ is a portfolio analysis model developed by the Boston
Consulting Group that assesses the potential of successful
products to generate cash that a firm can then use to invest in
new products. Correct Answers BCG
growth-market
share matrix
_____ is the industry term for inventory and cash losses from
shoplifting damage to merchandise, and employee theft. Correct
Answers Shrinkage
_____ occurs when someone voluntarily offers payments to get
an illegal advantage. Correct Answers Bribery
_____ refers to the availability of the product to the customer at
the desired time and location. Correct Answers Place
A ________ includes all possible customers in a market Correct
Answers mass market
A ________ refers to the group of different products or brands
owned by an organization and characterized by different
, income-generating and growth capabilities. Correct Answers
business portfolio
A distinctive group of customers within a larger market who
have some similarity but whose needs differ from other
customers is known as a _____. Correct Answers market
segment
A document that describes the marketing environment, outlines
the marketing objectives and strategy, and identifies who will be
responsible for carrying out each part of the marketing strategy
is known as a(n) _____ plan. Correct Answers marketing
A firm seeking a growth strategy designed to increase sales of
existing products to current customers, nonusers, and users of
competitive brands in served markets would utilize which of the
following marketing strategies? Correct Answers Market
penetration
A marketplace offering that fairly and accurately sums up the
value that the customer will realize if he or she purchases the
product or service is known as a(n) _____. Correct Answers
value proposition
A process of determining just how much value an organization's
marketing activities create and their impact on the bottom line is
known as _____ Correct Answers accountability
A product can be all of the following, except a(n) _____.
Correct Answers price
