GB 350 Ole Miss Exam 1 Study Guide
Q&A
Dog (BCG Matrix) - ANSWER-Low market share and low market growth. Earnings
are low and unstable. Cash flow is neutral or negative. EX: Fiat E Cars (bad sales)
Question Mark (BCG Matrix) - ANSWER-not clear whether they will turn into dog or
stars. Low market share and high market growth. EX: Pelotin (tech company on
expensive subscription service)
What is the marketing mix, 4 Ps - ANSWER-product, place, promotion, price
If there is a competitive advantage that can't be copied by competitors that means it
is. - ANSWER-Sustainable
What are types of competitive advantage: - ANSWER-- cost
- product/ service differentiation
- niche
A marketing objective should be 4 different things: - ANSWER-realistic
measurable
time specific
compared to a benchmark
Marketing Myopia - ANSWER-the mistake of paying more attention to the specific
products a company offers than to the benefits and experiences produced by these
products
Product Orientation - ANSWER-Victoria's Secret example (holding onto traditional
view of what's sexy)
_______ firms can survive if competition is weak and demand exceeds supply. -
ANSWER-product-oriented
Market Orientation - ANSWER-defining in terms of customer wants & needs.
Ansoff's Opportunity Matrix - ANSWER-market penetration, market development,
product development, and diversification.
BCG Matrix - ANSWER-analyzes business opportunities according to market growth
rate and market share
Q&A
Dog (BCG Matrix) - ANSWER-Low market share and low market growth. Earnings
are low and unstable. Cash flow is neutral or negative. EX: Fiat E Cars (bad sales)
Question Mark (BCG Matrix) - ANSWER-not clear whether they will turn into dog or
stars. Low market share and high market growth. EX: Pelotin (tech company on
expensive subscription service)
What is the marketing mix, 4 Ps - ANSWER-product, place, promotion, price
If there is a competitive advantage that can't be copied by competitors that means it
is. - ANSWER-Sustainable
What are types of competitive advantage: - ANSWER-- cost
- product/ service differentiation
- niche
A marketing objective should be 4 different things: - ANSWER-realistic
measurable
time specific
compared to a benchmark
Marketing Myopia - ANSWER-the mistake of paying more attention to the specific
products a company offers than to the benefits and experiences produced by these
products
Product Orientation - ANSWER-Victoria's Secret example (holding onto traditional
view of what's sexy)
_______ firms can survive if competition is weak and demand exceeds supply. -
ANSWER-product-oriented
Market Orientation - ANSWER-defining in terms of customer wants & needs.
Ansoff's Opportunity Matrix - ANSWER-market penetration, market development,
product development, and diversification.
BCG Matrix - ANSWER-analyzes business opportunities according to market growth
rate and market share
