MKT 6301 Final Exam
market-development - CORRECT ANSWER-If you were the marketing manager
of an organization that had chosen growth via current products sold to new
markets,
your organization would have chosen a ________ strategy.
Business mission - CORRECT ANSWER-The first step in the business unit
strategic-planning process deals with which of the following?
cash cow - CORRECT ANSWER-Gillette continues to manufacture Liquid Paper
correction fluid for use with typewriters even though most of the world uses word
processors. It is a small market that has little growth, but Liquid Paper has the
largest market share, and Gillette invests no promotional monies in maintaining
the declining product. Liquid Paper is an example of a ____
marketing plan - CORRECT ANSWER-The ________ is the central instrument
for directing and coordinating the marketing effort
intensive growth - CORRECT ANSWER-Market-penetration,
product-development, and market-development strategies would all be examples
of ________ strategies
strengths, weaknesses, opportunities, threats - CORRECT ANSWER-The
acronym SWOT used in the term SWOT analysis stands for
Strategic business unit - CORRECT ANSWER-Which of the following terms
matches to the phrase "it is a single business or collection of related businesses
that can be planned separately from the rest of the company"
industry growth rate - CORRECT ANSWER-In the Boston Consulting Group
(BCG) model to analyze a firm's strategic business units, or SBUs, the vertical
axis reflects the:
opening the first McDonald's in China - CORRECT ANSWER-Assume
McDonald's is engaging in a market development strategy. Which of the following
actions best illustrates a market development strategy?
,Dogs - CORRECT ANSWER-____ are SBUs with a low share of low-growth
markets-they may generate enough cash to sustain themselves, but they do not
hold the promise of ever becoming real winners for the firm
personality - CORRECT ANSWER-A person's consistent behaviors or responses
to recurring situations is his or her ____
personality - CORRECT ANSWER-_____ is a set of distinguishing human
psychological traits that lead to relatively consistent and enduring responses to
environmental stimuli
choice - CORRECT ANSWER-When a consumer makes the final decision on
which brand to buy, he or she selects a brand from the ________ set
culture - CORRECT ANSWER-The fundamental determinant of a person's wants
and behavior is the person's ____
Selective distortion - CORRECT ANSWER-____ is the tendency to interpret
information in a way that will fit our preconceptions.
orientation - CORRECT ANSWER-If a direct mail marketer wished to direct
promotional efforts toward the family of ________, efforts need to be directed
toward parents and siblings of the family members
Consumer behavior - CORRECT ANSWER-____ is the study of how individuals,
groups, and organizations select, buy, use, and dispose of goods, services,
ideas, or experiences to satisfy their needs and wants.
routine problem solving - CORRECT ANSWER-Which problem solving variation
would normally be used to purchase such items as toothpaste, soda, or chewing
gum?
Sigmund Freud - CORRECT ANSWER-___ assumed that the psychological
forces shaping people's behavior are largely from the subconcious, and that a
person cannot fully understand his or her own motivations
, reference groups - CORRECT ANSWER-A person's ________ consist(s) of all
the groups that have a direct (face-to-face) or indirect influence on his/her
attitudes or behavior
market segment - CORRECT ANSWER-A ________ consists of a group of
customers who share a similar set of needs and wants
positioning - CORRECT ANSWER-All marketing strategy is built on
STP-segmentation, targeting, and ___
legal - CORRECT ANSWER-Forrester Research estimates marketers in 1999
lost about $3 billion in potential sales because consumers were worried about
privacy. Although there are several laws being considered that would protect
consumers' rights to privacy, none has yet made been made into a law. This is
one way _____ forces have not helped the growth of electronic commerce
demographic - CORRECT ANSWER-Environmental scans have shown that the
population of the United States is undergoing dramatic change. For example, the
number of people in this country who are between the ages of 20 and 34 has
declined since 1990. On the other hand, the number of people who are 65 years
of age or older has increased. These changes in the U.S. population are
examples of __________ changes to which marketers must respond.
1965 and 1976 - CORRECT ANSWER-Generation X is the label often given to
persons born approximately between:
Positioning - CORRECT ANSWER-_____ is the act of designing the company's
offering and image to occupy a distinctive place in the mind of the target market
psychographic - CORRECT ANSWER-Harley-Davidson divides its customers
into seven lifestyle segments, from "cocky misfits," who are most likely to be
arrogant troublemakers, to "laid-back camper types" committed to cycling and
nature, to "classy capitalist" who have wealth and privilege. This form of
segmentation is _____
geographic and psychographic characteristics - CORRECT ANSWER-Universal
Concerts is planning on bringing a series of concerts to Canada next year. In
market-development - CORRECT ANSWER-If you were the marketing manager
of an organization that had chosen growth via current products sold to new
markets,
your organization would have chosen a ________ strategy.
Business mission - CORRECT ANSWER-The first step in the business unit
strategic-planning process deals with which of the following?
cash cow - CORRECT ANSWER-Gillette continues to manufacture Liquid Paper
correction fluid for use with typewriters even though most of the world uses word
processors. It is a small market that has little growth, but Liquid Paper has the
largest market share, and Gillette invests no promotional monies in maintaining
the declining product. Liquid Paper is an example of a ____
marketing plan - CORRECT ANSWER-The ________ is the central instrument
for directing and coordinating the marketing effort
intensive growth - CORRECT ANSWER-Market-penetration,
product-development, and market-development strategies would all be examples
of ________ strategies
strengths, weaknesses, opportunities, threats - CORRECT ANSWER-The
acronym SWOT used in the term SWOT analysis stands for
Strategic business unit - CORRECT ANSWER-Which of the following terms
matches to the phrase "it is a single business or collection of related businesses
that can be planned separately from the rest of the company"
industry growth rate - CORRECT ANSWER-In the Boston Consulting Group
(BCG) model to analyze a firm's strategic business units, or SBUs, the vertical
axis reflects the:
opening the first McDonald's in China - CORRECT ANSWER-Assume
McDonald's is engaging in a market development strategy. Which of the following
actions best illustrates a market development strategy?
,Dogs - CORRECT ANSWER-____ are SBUs with a low share of low-growth
markets-they may generate enough cash to sustain themselves, but they do not
hold the promise of ever becoming real winners for the firm
personality - CORRECT ANSWER-A person's consistent behaviors or responses
to recurring situations is his or her ____
personality - CORRECT ANSWER-_____ is a set of distinguishing human
psychological traits that lead to relatively consistent and enduring responses to
environmental stimuli
choice - CORRECT ANSWER-When a consumer makes the final decision on
which brand to buy, he or she selects a brand from the ________ set
culture - CORRECT ANSWER-The fundamental determinant of a person's wants
and behavior is the person's ____
Selective distortion - CORRECT ANSWER-____ is the tendency to interpret
information in a way that will fit our preconceptions.
orientation - CORRECT ANSWER-If a direct mail marketer wished to direct
promotional efforts toward the family of ________, efforts need to be directed
toward parents and siblings of the family members
Consumer behavior - CORRECT ANSWER-____ is the study of how individuals,
groups, and organizations select, buy, use, and dispose of goods, services,
ideas, or experiences to satisfy their needs and wants.
routine problem solving - CORRECT ANSWER-Which problem solving variation
would normally be used to purchase such items as toothpaste, soda, or chewing
gum?
Sigmund Freud - CORRECT ANSWER-___ assumed that the psychological
forces shaping people's behavior are largely from the subconcious, and that a
person cannot fully understand his or her own motivations
, reference groups - CORRECT ANSWER-A person's ________ consist(s) of all
the groups that have a direct (face-to-face) or indirect influence on his/her
attitudes or behavior
market segment - CORRECT ANSWER-A ________ consists of a group of
customers who share a similar set of needs and wants
positioning - CORRECT ANSWER-All marketing strategy is built on
STP-segmentation, targeting, and ___
legal - CORRECT ANSWER-Forrester Research estimates marketers in 1999
lost about $3 billion in potential sales because consumers were worried about
privacy. Although there are several laws being considered that would protect
consumers' rights to privacy, none has yet made been made into a law. This is
one way _____ forces have not helped the growth of electronic commerce
demographic - CORRECT ANSWER-Environmental scans have shown that the
population of the United States is undergoing dramatic change. For example, the
number of people in this country who are between the ages of 20 and 34 has
declined since 1990. On the other hand, the number of people who are 65 years
of age or older has increased. These changes in the U.S. population are
examples of __________ changes to which marketers must respond.
1965 and 1976 - CORRECT ANSWER-Generation X is the label often given to
persons born approximately between:
Positioning - CORRECT ANSWER-_____ is the act of designing the company's
offering and image to occupy a distinctive place in the mind of the target market
psychographic - CORRECT ANSWER-Harley-Davidson divides its customers
into seven lifestyle segments, from "cocky misfits," who are most likely to be
arrogant troublemakers, to "laid-back camper types" committed to cycling and
nature, to "classy capitalist" who have wealth and privilege. This form of
segmentation is _____
geographic and psychographic characteristics - CORRECT ANSWER-Universal
Concerts is planning on bringing a series of concerts to Canada next year. In
