COB 300 MARKETING EXAM 1 (MCMILLEN) QUESTIONS WITH CORRECT ANSWER

COB 300 MARKETING EXAM 1
(MCMILLEN) QUESTIONS WITH CORRECT
ANSWER



\.Marketing Mix - ANSWERS✔-Product

Price
Place
Promotion



\.Production Concept - ANSWERS✔-Consumers will favor products that are
available and affordable. Focus should be on production and distribution
efficiency.



\.Product Concept - ANSWERS✔-Consumers will favor products that offer the
most.



\.Selling Concept - ANSWERS✔-Consumers won't buy unless selling and
promotion efforts are put forward.



\.Marketing Concept - ANSWERS✔-Knowing the needs and wants of a target
market then delivering better than competitors.

, \.Societal Marketing Concept - ANSWERS✔-Marketing decisions should consider
consumers wants, company requirements, long run interests, and society's long
run interest.



\.Business Portfolio - ANSWERS✔-Collection of businesses and products that make
up a company.



\.Portfolio Analysis - ANSWERS✔-The process by which management evaluates
the products and businesses that make up the company.



\.BCG - Growth Share Matrix - ANSWERS✔-A portfolio-planning method that
evaluates a company's SBU's in terms of market growth rate and relative market
share.



\.Stars - ANSWERS✔-High-growth, high share businesses. INVEST



\.Cash Cows - ANSWERS✔-Low-growth, high share businesses. Produce a lot of
cash but don't need much investment.



\.Question Marks - ANSWERS✔-High-growth, low share businesses. Need tons of
cash.



\.Dogs - ANSWERS✔-Low-growth, low share businesses.