AGB 202 Chapter 2 quiz Practice Exam Questions And Answers (A+ Score) 100% Verified.

What type of external market analysis has changed nearly every industry over the last 20 years? - correct answer impact of technology Joshua works for a small firm. His main job is to understand and interpret the needs and wants of large groups of customers. What role is he working in? - correct answer Market research What does marketing define? - correct answer How a company's products can meet the customers' needs and wants, How services satisfy customers, How a company can make a profit and stay in business doing this Zarina is putting together a marketing strategy for her company. Her strategy plans to target an aging demographic over the next 10 years. Why is this a bad idea? - correct answer Her timeline is too long. Too many factors are unknown in the time period given Sorting customers by the common pest problems they face in a field would be included in what type of segmenting method? - correct answer product usage Segmenting refers to the process of... - correct answer Identifying groups of customers who have similar sets of needs The satisfaction of customers' needs is dependent on sales efforts and marketing strategies - correct answer true We will work to make our patients more healthful and contribute to the quality of their lives. This statement is an example of a company's ___________ statement. - correct answer vision The Marketing Mix defines product, price, place, promotion and profits for targeted customers. - correct answer false Abbot works for a car company has just been reassigned from the low end car lot to the top of the line car lot. The customers he is selling to now have different values and priorities than his former customers. What differences does he need to look at in segmenting these customers? - correct answer Demographics, Product Usage, Psychographics Segmenting a group of customers according to the business buyer vs. the relationship buyer would be what type of segmenting method? - correct answer Psychographics The United States agricultural marketplace, has noticed a trend toward more of a business orientation among large farmers, as opposed to farming as a way of life. This same issue has affected many industries and affects how products are developed and introduced. This research has been completed in what type of external market analysis? - correct answer Social Demographics Gretchen is talking to her marketing team about the kinds of environmental factors they need to be keeping in mind as they begin a campaign. What factors are included as environmental factors? - correct answer the economic situation and trends You are responsible for selling a new product to a wide variety of people. This product represents an entirely new technology that few people are familiar with. What do you need to do in order to succeed? - correct answer Make the customers understand how the product will improve their quality of life Tina and her colleague are discussing the amount of money made on toothpaste sales last month after other expenses were taken out. What is the term for this? - correct answer Net profit Which of the following is not included in the marketing mix? - correct answer profit The external market analysis looks at the company's strengths and weaknesses. - correct answer false Patty is the owner of a spa in a beach town. She generally caters to people on vacation who want to relax. Last month Patty gave 10 massages at $100 a piece. It cost her $1012 to keep her business running last month. Does this scenario satisfy the definition of marketing? Why or why not? - correct answer no because she was not profitable Our company provides farm businesses with the products, services, and information. This statement is an example of a company's ____________ statement. - correct answer Mission Our company will continue to research and develop the latest technologies that lead to improvements in fermented organic treatments for endocrine disorders to improve the quality of life for people. This statement is an example of a company's ____________ statement. - correct answer Mission