MKTG 304 (questions with verified
answers) A+ updated
inbound marketing - correct answer ✔✔Marketing activities that draw the
attention of customers through blogs, Twitter, LinkedIn, and other online sources,
rather than using more traditional activities that require having to go out to get
customers' attention, such as making a sales call.
outbound marketing - correct answer ✔✔Promoting your product or service
through traditional activities such as advertising, trade shows, and cold calling.
unprecedented - correct answer ✔✔never done or known before
top line growth - correct answer ✔✔increase in revenue a company earns through
its core business operations
Bottom Line Growth - correct answer ✔✔profit growth (usually net profit)
market share - correct answer ✔✔the portion of a market controlled by a
particular company or product.
Market Segmentation - correct answer ✔✔the process of dividing a market into
meaningful, relatively similar, and identifiable segments or groups
,Marketing Mix - correct answer ✔✔product, channel, promotion, pricing (public
policy)
customer retention - correct answer ✔✔Strategies to keep existing customers
engaged.
Research Methodology - correct answer ✔✔the system of methods a researcher
uses to gather data on a particular question
break-even analysis - correct answer ✔✔a method of determining what sales
volume must be reached before total revenue equals total costs
price elasticity of demand - correct answer ✔✔a measure of the sensitivity of
demand to changes in price
competitive advantage - correct answer ✔✔an advantage over competitors
gained by offering greater customer value, either by having lower prices or
providing more benefits that justify higher prices
B2C (business-to-consumer) - correct answer ✔✔A commercial exchange (e.g.,
products or services) between businesses and consumers conducted over the
Internet.
B2B (business-to-business) - correct answer ✔✔A commercial exchange (e.g.,
products or services) between businesses, typically enabled by the Internet or
electronic means.
, DTC - correct answer ✔✔direct to consumer advertising
viral marketing - correct answer ✔✔the digital version of word-of-mouth
marketing: videos, ads, and other marketing content that is so infectious that
customers will seek it out or pass it along to friends
value proposition - correct answer ✔✔the unique value that a product or service
provides to its customers and how it is better than and different from those of
competitors
Target Market - correct answer ✔✔a set of buyers sharing common needs or
characteristics that the company decides to serve
marketing mix (four Ps) - correct answer ✔✔a unique blend of product, place
(distribution), promotion, and pricing strategies designed to produce mutually
satisfying exchanges with a target market
Advertising - correct answer ✔✔any paid form of non-personal presentation and
promotion of ideas, goods, or services by an identified sponsor
sales promotion - correct answer ✔✔Short-term incentives to encourage the
purchase or sale of a product or service
personal selling - correct answer ✔✔Any form of direct contact between a
salesperson and a customer.
answers) A+ updated
inbound marketing - correct answer ✔✔Marketing activities that draw the
attention of customers through blogs, Twitter, LinkedIn, and other online sources,
rather than using more traditional activities that require having to go out to get
customers' attention, such as making a sales call.
outbound marketing - correct answer ✔✔Promoting your product or service
through traditional activities such as advertising, trade shows, and cold calling.
unprecedented - correct answer ✔✔never done or known before
top line growth - correct answer ✔✔increase in revenue a company earns through
its core business operations
Bottom Line Growth - correct answer ✔✔profit growth (usually net profit)
market share - correct answer ✔✔the portion of a market controlled by a
particular company or product.
Market Segmentation - correct answer ✔✔the process of dividing a market into
meaningful, relatively similar, and identifiable segments or groups
,Marketing Mix - correct answer ✔✔product, channel, promotion, pricing (public
policy)
customer retention - correct answer ✔✔Strategies to keep existing customers
engaged.
Research Methodology - correct answer ✔✔the system of methods a researcher
uses to gather data on a particular question
break-even analysis - correct answer ✔✔a method of determining what sales
volume must be reached before total revenue equals total costs
price elasticity of demand - correct answer ✔✔a measure of the sensitivity of
demand to changes in price
competitive advantage - correct answer ✔✔an advantage over competitors
gained by offering greater customer value, either by having lower prices or
providing more benefits that justify higher prices
B2C (business-to-consumer) - correct answer ✔✔A commercial exchange (e.g.,
products or services) between businesses and consumers conducted over the
Internet.
B2B (business-to-business) - correct answer ✔✔A commercial exchange (e.g.,
products or services) between businesses, typically enabled by the Internet or
electronic means.
, DTC - correct answer ✔✔direct to consumer advertising
viral marketing - correct answer ✔✔the digital version of word-of-mouth
marketing: videos, ads, and other marketing content that is so infectious that
customers will seek it out or pass it along to friends
value proposition - correct answer ✔✔the unique value that a product or service
provides to its customers and how it is better than and different from those of
competitors
Target Market - correct answer ✔✔a set of buyers sharing common needs or
characteristics that the company decides to serve
marketing mix (four Ps) - correct answer ✔✔a unique blend of product, place
(distribution), promotion, and pricing strategies designed to produce mutually
satisfying exchanges with a target market
Advertising - correct answer ✔✔any paid form of non-personal presentation and
promotion of ideas, goods, or services by an identified sponsor
sales promotion - correct answer ✔✔Short-term incentives to encourage the
purchase or sale of a product or service
personal selling - correct answer ✔✔Any form of direct contact between a
salesperson and a customer.
