MKTG 3340 Quiz 1
The 4 P's of Marketing - Answers -Product - what do potential customers need and want
Price - How much should we ask cust. to pay
Placement - How we get it to customers
Promotion - How will we communicate with customers
Which functional department is responsible for the Customer/Consumer? - Answers -
What is Marketing? - Answers -Activities that create, communicate, deliver, and
exchange offerings that have value to customers, clients, partners, and society as a
whole
Cash Cows (BCG Matrix) - Answers -Lower left Quadrant - Low mkt growth, high mkt
share
-profitable products
-slow sales growth
-nominal investment
Dogs(BCG Matrix) - Answers -Low Growth, low market share
-cost disadvantage
-market not growing
Question Marks(BCG Matrix) - Answers -Rapid growth, low market share
-poor profit margins
-enormous cash demand
Stars(BCG Matrix) - Answers -High growth, high market share
-market leader
-fast growing
-require investment
Product Development - Answers -Offering new or improved products to current markets
Market Penetration - Answers -increase sales of current products in current markets
-focus on advertising, promotion, and price reduction
Diversification - Answers -Develop and/or acquire new products and sell them in new
markets
-high risk
SWOT - Answers -strengths, weaknesses, opportunities, threats. These ideas are used
when comparing a company with other companies that are competing against it
The 4 P's of Marketing - Answers -Product - what do potential customers need and want
Price - How much should we ask cust. to pay
Placement - How we get it to customers
Promotion - How will we communicate with customers
Which functional department is responsible for the Customer/Consumer? - Answers -
What is Marketing? - Answers -Activities that create, communicate, deliver, and
exchange offerings that have value to customers, clients, partners, and society as a
whole
Cash Cows (BCG Matrix) - Answers -Lower left Quadrant - Low mkt growth, high mkt
share
-profitable products
-slow sales growth
-nominal investment
Dogs(BCG Matrix) - Answers -Low Growth, low market share
-cost disadvantage
-market not growing
Question Marks(BCG Matrix) - Answers -Rapid growth, low market share
-poor profit margins
-enormous cash demand
Stars(BCG Matrix) - Answers -High growth, high market share
-market leader
-fast growing
-require investment
Product Development - Answers -Offering new or improved products to current markets
Market Penetration - Answers -increase sales of current products in current markets
-focus on advertising, promotion, and price reduction
Diversification - Answers -Develop and/or acquire new products and sell them in new
markets
-high risk
SWOT - Answers -strengths, weaknesses, opportunities, threats. These ideas are used
when comparing a company with other companies that are competing against it
