COB 300 ATAV FINAL EXAM QUESTIONS
COMPLETE WITH VERIFIED ANSWERS
\.what are the 4 eras of marketing? - ANSWERS✔-production, sales, market, value
based
\.marketing helps create... - ANSWERS✔-value
\.Firms believed a good product would sell itself - ANSWERS✔-production-
oriented era
\.Between 1920-1950, With overproduction they depended on heavy doses of
personal selling and advertising - ANSWERS✔-sales-oriented era
\.products were plentiful, and consumers could choose products based on quality,
convenience, and price - ANSWERS✔-market-oriented era
\.marketing firms recognized they had to give their customers greater value than
their competitiors - ANSWERS✔-value-based marketing era
\.situation analysis is conducted using what? - ANSWERS✔-SWOT
,\.what does SWOT stand for? - ANSWERS✔-strengths, weaknesses, opportunities,
threats
\.which components of SWOT are internal? - ANSWERS✔-strengths, weaknesses
\.which components of SWOT are external? - ANSWERS✔-opportunities, threats
\.management evaluates the firm's various products and businesses and allocates
resources according to which products are expected to be the most profitable for
the firm in the future - ANSWERS✔-portfolio analysis
\.what does SBU stand for? - ANSWERS✔-strategic business unit
\.SBUs with high market shares in high-growth markets - ANSWERS✔-stars
\.SBUs with low market shares in high growth markets - ANSWERS✔-question
marks
\.SBUs with high market shares in low growth markets - ANSWERS✔-cash cows
\.SBUs with low market shares in low growth markets - ANSWERS✔-dogs
, \.What are the four growth strategies in marketing? - ANSWERS✔-Market
penetration, market development, product development, diversification
\.employs the existing marketing mix and focuses the firm's efforts on existing
customers - ANSWERS✔-market penetration
\.employs the existing marketing offering to reach new market segments, whether
domestic or international - ANSWERS✔-market development
\.offers a new product or service to a firm's current target market - ANSWERS✔-
product development
\.a strategy of increasing sales by introducing new products into new markets -
ANSWERS✔-diversification
\.what are the 6 segmentation methods? - ANSWERS✔-geographic, demographic,
psychographic, geodemographic, benefit, behavioral
\.organizes customers into groups on the basis of where they live - ANSWERS✔-
geographic segmentation
\.groups consumers according to easily measured, objective characteristics such
as age, gender, and income - ANSWERS✔-demographic segmentation
COMPLETE WITH VERIFIED ANSWERS
\.what are the 4 eras of marketing? - ANSWERS✔-production, sales, market, value
based
\.marketing helps create... - ANSWERS✔-value
\.Firms believed a good product would sell itself - ANSWERS✔-production-
oriented era
\.Between 1920-1950, With overproduction they depended on heavy doses of
personal selling and advertising - ANSWERS✔-sales-oriented era
\.products were plentiful, and consumers could choose products based on quality,
convenience, and price - ANSWERS✔-market-oriented era
\.marketing firms recognized they had to give their customers greater value than
their competitiors - ANSWERS✔-value-based marketing era
\.situation analysis is conducted using what? - ANSWERS✔-SWOT
,\.what does SWOT stand for? - ANSWERS✔-strengths, weaknesses, opportunities,
threats
\.which components of SWOT are internal? - ANSWERS✔-strengths, weaknesses
\.which components of SWOT are external? - ANSWERS✔-opportunities, threats
\.management evaluates the firm's various products and businesses and allocates
resources according to which products are expected to be the most profitable for
the firm in the future - ANSWERS✔-portfolio analysis
\.what does SBU stand for? - ANSWERS✔-strategic business unit
\.SBUs with high market shares in high-growth markets - ANSWERS✔-stars
\.SBUs with low market shares in high growth markets - ANSWERS✔-question
marks
\.SBUs with high market shares in low growth markets - ANSWERS✔-cash cows
\.SBUs with low market shares in low growth markets - ANSWERS✔-dogs
, \.What are the four growth strategies in marketing? - ANSWERS✔-Market
penetration, market development, product development, diversification
\.employs the existing marketing mix and focuses the firm's efforts on existing
customers - ANSWERS✔-market penetration
\.employs the existing marketing offering to reach new market segments, whether
domestic or international - ANSWERS✔-market development
\.offers a new product or service to a firm's current target market - ANSWERS✔-
product development
\.a strategy of increasing sales by introducing new products into new markets -
ANSWERS✔-diversification
\.what are the 6 segmentation methods? - ANSWERS✔-geographic, demographic,
psychographic, geodemographic, benefit, behavioral
\.organizes customers into groups on the basis of where they live - ANSWERS✔-
geographic segmentation
\.groups consumers according to easily measured, objective characteristics such
as age, gender, and income - ANSWERS✔-demographic segmentation
