MKTG 2500 WMU EXAM #1
QUESTIONS WITH 100% VERIFIED
ANSWERS
\.marketing objectives - ANSWERS✔-"what" needs to happen; specific,
measurable, time-sensitive
\.marketing strategies - ANSWERS✔-"how" the objectives are going to be
accomplished, without getting into specifics
\.marketing tactics - ANSWERS✔-specific elements of the plan that will deliver the
strategy and achieve the objectives
\.market segmentation - ANSWERS✔-dividing the markets into segments of
customers
\.target marketing - ANSWERS✔-which segments to go after
\.marketing mix - ANSWERS✔-product, price, place, promotion
\.customer lifetime value - ANSWERS✔-the value of the entire stream of
purchases a customer makes over a lifetime of patronage
, \.strategic planning - ANSWERS✔-process of developing and maintaining a
strategic fit between the organizations goals and capabilities and its changing
marketing opportunities
\.process of strategic planning - ANSWERS✔-1. defining the company mission
2. setting company objectives and goals
3. designing the business portfolio
4. planning marketing and other functional strategies
\.mission statement - ANSWERS✔-a statement of the organization's purpose-
what it wants to accomplish in the larger environment
\.product/market expansion grid - ANSWERS✔-a portfolio-planning tool for
identifying company growth opportunities through market penetration, market
development, product development, or diversification
\.positioning - ANSWERS✔-arranging for a product to occupy a clear, distinctive,
and desirable place relative to competing products in the minds of target
customers
\.differentiation - ANSWERS✔-actually differentiating the market offering to create
superior customer value
\.SWOT analysis - ANSWERS✔-overall evaluation of the company's strengths,
weaknesses, opportunities, and threats
QUESTIONS WITH 100% VERIFIED
ANSWERS
\.marketing objectives - ANSWERS✔-"what" needs to happen; specific,
measurable, time-sensitive
\.marketing strategies - ANSWERS✔-"how" the objectives are going to be
accomplished, without getting into specifics
\.marketing tactics - ANSWERS✔-specific elements of the plan that will deliver the
strategy and achieve the objectives
\.market segmentation - ANSWERS✔-dividing the markets into segments of
customers
\.target marketing - ANSWERS✔-which segments to go after
\.marketing mix - ANSWERS✔-product, price, place, promotion
\.customer lifetime value - ANSWERS✔-the value of the entire stream of
purchases a customer makes over a lifetime of patronage
, \.strategic planning - ANSWERS✔-process of developing and maintaining a
strategic fit between the organizations goals and capabilities and its changing
marketing opportunities
\.process of strategic planning - ANSWERS✔-1. defining the company mission
2. setting company objectives and goals
3. designing the business portfolio
4. planning marketing and other functional strategies
\.mission statement - ANSWERS✔-a statement of the organization's purpose-
what it wants to accomplish in the larger environment
\.product/market expansion grid - ANSWERS✔-a portfolio-planning tool for
identifying company growth opportunities through market penetration, market
development, product development, or diversification
\.positioning - ANSWERS✔-arranging for a product to occupy a clear, distinctive,
and desirable place relative to competing products in the minds of target
customers
\.differentiation - ANSWERS✔-actually differentiating the market offering to create
superior customer value
\.SWOT analysis - ANSWERS✔-overall evaluation of the company's strengths,
weaknesses, opportunities, and threats
