Mkt 380: Exam 1 UPDATED ACTUAL Questions And Correct Answers
C
Terms in this set (81)
Place utility Adding value to products by having them where people want them.
Ownership utility Ability to transfer title to goods or services from marketer to buyer
Value utility ability of a product to satisfy a human want or need
Form utility Changing raw materials or putting parts together to make them more useful
Product utility Product's ability to satisfy functional needs and psychological wants
The Financial Bottom Line building long-term bonds with customers which emphasize financial profits to
stakeholders
What are the two basic functions that create utility? Production and marketing of goods
Manufacturers engage in risk taking when they create True
goods and services based on research and their belief
that consumers need them.
Marketing myopia Management's failure to recognize the scope of its business. Product-oriented
rather than customer-oriented management endangers future growth.
It cost your firm a lot of money to sponsor a talk on Relationship marketing broadens the scope of external marketing relationships
relationship marketing by a so-called business guru. You
feel the money was not well spent, because the speaker
failed to discuss all key points. From the following list,
choose the key point(s) about relationship marketing that
should have been covered in the talk.
Which of the following holds true when not-for-profit Not-for-profit organizations often possess some degree of monopoly power in a
organizations are compared with for-profit given geographical area.
organizations?
In the practice of relationship marketing, the definition of The purchasing department of a defense contractor invites its suppliers to attend
a customer is taken to another level. Which of the an annual golf outing.
following best illustrates how a company practicing
relationship marketing is different from a traditional
transaction-based marketer?
, What are Porter's Five Forces? Buyer power
Supplier power
Threat of substitute products or services
Threat of new entrants
Rivalry among existing competitors
You've just started a new job as Chief Marketing Officer Assess organizational resources and opportunities
for a restaurant chain, and you've learned that the
marketing planning process is already underway. In fact,
the first two steps have been completed. What do you
need to do now?
What are the steps of the marketing planning process? 1. Set goals/Missions
2. Situational analysis (ID opportunities, SWOT, PESTAL)
3. Marketing strategy (TM)
4. Marketing Mix (4 Ps)
5. Implementation and control
Business strategist Michael E. Porter identified five Planning strategies
competitive forces that influence in a model called
Porter's Five Forces.
Kraft Mac & Cheese first hit the shelves in 1937 and Kraft Mac & Cheese is classified as a star - high market share and high
remains a favorite product for families. The product has industry growth.
undergone changes in formulation as well as packaging
over the years and Kraft recently reformulated the
product so it does not contain any artificial ingredients.
Sales of Kraft Mac & Cheese in the familiar blue box
continue to be strong and help Kraft fund other products
since it generates such a strong cash flow. Kraft continues
to invest in its Mac & Cheese brand through both
research and development as well as promotional
activities. It's likely that Kraft views Mac & Cheese as a
_ __ according the BCG matrix.
Comcast's NBC division acquired Universal Studios and Strategic
the highest executive who approved this acquisition was
most likely Comcast's CEO. This decision is the direct
result of ___ planning process at Comcast.
Operational planning The process of identifying the specific procedures and processes required at
lower levels of the organization.
C
Terms in this set (81)
Place utility Adding value to products by having them where people want them.
Ownership utility Ability to transfer title to goods or services from marketer to buyer
Value utility ability of a product to satisfy a human want or need
Form utility Changing raw materials or putting parts together to make them more useful
Product utility Product's ability to satisfy functional needs and psychological wants
The Financial Bottom Line building long-term bonds with customers which emphasize financial profits to
stakeholders
What are the two basic functions that create utility? Production and marketing of goods
Manufacturers engage in risk taking when they create True
goods and services based on research and their belief
that consumers need them.
Marketing myopia Management's failure to recognize the scope of its business. Product-oriented
rather than customer-oriented management endangers future growth.
It cost your firm a lot of money to sponsor a talk on Relationship marketing broadens the scope of external marketing relationships
relationship marketing by a so-called business guru. You
feel the money was not well spent, because the speaker
failed to discuss all key points. From the following list,
choose the key point(s) about relationship marketing that
should have been covered in the talk.
Which of the following holds true when not-for-profit Not-for-profit organizations often possess some degree of monopoly power in a
organizations are compared with for-profit given geographical area.
organizations?
In the practice of relationship marketing, the definition of The purchasing department of a defense contractor invites its suppliers to attend
a customer is taken to another level. Which of the an annual golf outing.
following best illustrates how a company practicing
relationship marketing is different from a traditional
transaction-based marketer?
, What are Porter's Five Forces? Buyer power
Supplier power
Threat of substitute products or services
Threat of new entrants
Rivalry among existing competitors
You've just started a new job as Chief Marketing Officer Assess organizational resources and opportunities
for a restaurant chain, and you've learned that the
marketing planning process is already underway. In fact,
the first two steps have been completed. What do you
need to do now?
What are the steps of the marketing planning process? 1. Set goals/Missions
2. Situational analysis (ID opportunities, SWOT, PESTAL)
3. Marketing strategy (TM)
4. Marketing Mix (4 Ps)
5. Implementation and control
Business strategist Michael E. Porter identified five Planning strategies
competitive forces that influence in a model called
Porter's Five Forces.
Kraft Mac & Cheese first hit the shelves in 1937 and Kraft Mac & Cheese is classified as a star - high market share and high
remains a favorite product for families. The product has industry growth.
undergone changes in formulation as well as packaging
over the years and Kraft recently reformulated the
product so it does not contain any artificial ingredients.
Sales of Kraft Mac & Cheese in the familiar blue box
continue to be strong and help Kraft fund other products
since it generates such a strong cash flow. Kraft continues
to invest in its Mac & Cheese brand through both
research and development as well as promotional
activities. It's likely that Kraft views Mac & Cheese as a
_ __ according the BCG matrix.
Comcast's NBC division acquired Universal Studios and Strategic
the highest executive who approved this acquisition was
most likely Comcast's CEO. This decision is the direct
result of ___ planning process at Comcast.
Operational planning The process of identifying the specific procedures and processes required at
lower levels of the organization.
