Strategic Marketing Exam 1 QUESTIONS AND CORRECT VERYFIED ANSWERS. FROM VERYFIED SOURCES.

Strategic Marketing Exam 1 ,, ,, ,,



,, QUESTIONS AND AND VERYFIED ,, ,, ,,



,, ANSWERS FROM VERYFIED ,, ,,



,, SOURCES



Puma ,,sustainability ,,in ,,line ,,with ,,marketing ,,concept ,,- ,,correct ,,Answers ,,✔✔ ,,-yes-

-sustainability ,,expensive ,,but ,,ensures ,,company ,,will ,,have ,,input ,,materials ,,far

,,into ,,future; ,,people ,,willing ,,to ,,pay ,,for ,,environmentally ,,friendly ,,good--will

,,increase ,,profits



Marketing ,,concept ,,- ,,correct ,,Answers ,,✔✔ ,,-achieving ,,organisational ,,goals

,,depends ,,on ,,determin-

ing ,,the ,,needs ,,and ,,wants ,,of ,,target ,,markets ,,and ,,delivering ,,the ,,desired
,,satisfactions ,,more ,,effectively ,,and ,,efficiently ,,than ,,competitors ,,do.



How ,,has ,,the ,,"power" ,,of ,,choice ,,shifted ,,to ,,the ,,customer ,,and ,,consumer ,,with

,,globalization, ,,trade ,,and ,,manufacturing ,,improvements ,,over ,,the ,,past ,,15 ,,years?

,,- ,,correct ,,Answers ,,✔✔ ,,-supply ,,has ,,outstripped ,,demand, ,,more ,,info ,,due ,,to

,,internet, ,,power ,,in ,,supply ,,chain ,,now ,,in ,,consumer's ,,hands--customers ,,have


,,more ,,choice, ,,need ,,customer ,,satisfaction



How ,,has ,,the ,,definition ,,of ,,marketing ,,evolved ,,over ,,the ,,past ,,twenty ,,years?

,,What ,,is ,,the ,,fabric ,,of ,,the ,,new ,,marketing ,,concept? ,,- ,,correct ,,Answers ,,✔✔ ,,-

market ,,is ,,more ,,customer ,,focused ,,now/market ,,driven; ,,more ,,based ,,on
,,society/community/consumers

,Culture, ,,Strategy ,,and ,,Tactics ,,are ,,simultaneously ,,merged ,,into ,,the ,,new

,,marketing ,,paradigm. ,,How ,,does ,,reality ,,of ,,the ,,marketing ,,function ,,fall ,,short ,,in

,,many ,,organizations? ,,- ,,correct ,,Answers ,,✔✔ ,,-The ,,challenge ,,of ,,simultaneously

,,building ,,a ,,customer ,,orientation ,,in ,,an ,,organisation

(culture), ,,developing ,,value ,,propositions ,,and ,,competitive ,,positioning ,,(strategy)
,,and
developing ,,detailed ,,marketing ,,action ,,plans ,,(tactics) ,,is ,,complex.

In ,,companies ,,with ,,Market-led ,,orientation, ,,five ,,components ,,merge ,,together ,,to

,,create ,,a ,,new ,,culture. ,,What ,,are ,,they ,,and ,,what ,,is ,,their ,,impact? ,,- ,,correct

,,Answers ,,✔✔ ,,-customer ,,orientation, ,,competitor ,,orientation, ,,interfunctional

,,orientation ,,(using ,,company ,,resources ,,well), ,,organizational ,,culture, ,,long-term

,,creation ,,of ,,shareholder ,,value; ,,impact ,,is ,,that ,,the ,,components ,,lead ,,to ,,financial

,,and ,,other ,,benefits ,,for ,,the ,,company



product ,,push ,,marketing ,,- ,,correct ,,Answers ,,✔✔ ,,-companies ,,focus ,,their

,,activities ,,on ,,their ,,existing ,,products ,,and ,,services ,,and ,,look ,,for ,,ways ,,to

,,encourage, ,,or ,,even ,,persuade, ,,customers ,,to ,,buy



customer-led ,,marketing ,,- ,,correct ,,Answers ,,✔✔ ,,-organizations ,,chase ,,their

,,customers ,,at ,,all ,,costs; ,,the ,,goal ,,is ,,to ,,find ,,what

customers ,,want ,,and, ,,whatever ,,it ,,is, ,,give ,,it ,,to ,,them--short ,,term ,,orientation

resource-based ,,marketing ,,- ,,correct ,,Answers ,,✔✔ ,,-middle ,,ground ,,of ,,product

,,push ,,and ,,consumer ,,led--firms ,,base ,,their ,,marketing ,,strategies ,,on ,,equal

,,consideration ,,of ,,the ,,requirements ,,of ,,the ,,market ,,and ,,their ,,abilities ,,to ,,serve ,,it-

-long ,,term ,,orientation


stakeholder ,,interests ,,- ,,correct ,,Answers ,,✔✔ ,,-customer: ,,quality/value
Shareholder: ,,maximize ,,investment
manager: ,,personal ,,reward/career ,,trajectory/short-term ,,gains
employees: ,,job ,,satisfaction/compensation

, distributors: ,,predictability/continuous
community: ,,job ,,creation/loss
environment: ,,reduce ,,impact

marketing ,,contributes ,,to ,,stakeholder's ,,objectives ,,- ,,correct ,,Answers ,,✔✔ ,,-

managers/employees: ,,providing ,,security, ,,job ,,satisfaction, ,,compensation ,,which

,,will ,,lead ,,to ,,better ,,products ,,for ,,consumers/more ,,success ,,which ,,is ,,good ,,for

,,distributors ,,and ,,community--environment



6 ,,marketing ,,principles ,,- ,,correct ,,Answers ,,✔✔ ,,-1) ,,focus ,,on ,,the ,,customer
2) ,,only ,,compete ,,in ,,markets ,,where ,,you ,,can ,,establish ,,competitive ,,advantage
3) ,,customers ,,do ,,not ,,buy ,,products--buy ,,benefits
4) ,,marketing ,,is ,,too ,,important ,,to ,,leave ,,to ,,the ,,mark ,,department--strategy
5) ,,markets ,,are ,,heterogeneous
6) ,,markets ,,and ,,customers ,,change ,,constantly

3 ,,roles ,,of ,,marketing ,,within ,,the ,,organization ,,- ,,correct ,,Answers ,,✔✔ ,,-1)

,,identification ,,of ,,customer ,,requirements

2) ,,decide ,,on ,,the ,,competitive ,,position ,,to ,,be ,,adopted
3) ,,implement ,,the ,,marketing ,,strategy

LEGO ,,electronic ,,games ,,with ,,their ,,strategy ,,- ,,correct ,,Answers ,,✔✔ ,,-digital ,,fits

,,with ,,strategy--growth ,,because ,,kids ,,can ,,play ,,with ,,bricks, ,,or ,,see ,,TV


,,show/event ,,with ,,them, ,,play ,,a ,,game ,,online ,,with ,,them



Best ,,Buy ,,implementation ,,from ,,Diverge ,,- ,,correct ,,Answers ,,✔✔ ,,-Best ,,Buy

,,developed ,,Geek ,,Squad--fills ,,gap ,,between ,,those ,,who ,,love/can ,,afford ,,tech ,,and


,,those ,,who ,,don't ,,know ,,how ,,to ,,use ,,it



Nike ,,differentiation ,,diverge ,,- ,,correct ,,Answers ,,✔✔ ,,-increased ,,performance ,,of

,,products ,,instead ,,of ,,increasing ,,performance ,,of ,,users



Cirque ,,du ,,Soleil ,,success ,,formula ,,- ,,correct ,,Answers ,,✔✔ ,,-prestige ,,pricing--

upscale ,,event ,,for ,,adults; ,,made ,,it ,,about ,,experience, ,,not ,,price