BMKT 325- PRINCIPLES OF
MARKETING- 1 STUDY QUESTIONS
AND ANSWERS
Ideas - ANSWER-Mothers Against Drunk Driving (MADD) is a group that works to change
attitudes and laws about driving under the influence of alcohol. MADD primarily markets
_______.
Customer Relationship Management - ANSWER-L.L. Bean uses technology to help them identify
specific customers, established interactive dialogues with them to learn about their needs, and
combine this information with their purchase histories to customize products to meet those
needs. L.L Bean is using what approach?
Limits the marketing manager's ability to measure the effectiveness of marketing activities. -
ANSWER-The time lag between the performance of marketing activities and their results does
what?
Market share - ANSWER-The percentage of a market which actually buys a specific product from
a specific company is referred to as that product's _______________.
A philosophy that a product's market growth rate and its market share are important
determinants of its marketing strategy. - ANSWER-The Boston Consulting Group's matrix is
based on what?
The marketing mix - ANSWER-Distribution, price, promotion, and product are all elements of
what?
Opportunites - ANSWER-Favorable conditions in the marketplace environment that could
produce business rewards for the organization if acted upon properly are called what?
Customers - ANSWER-What is the focal point of all marketing activities?
Satisfaction for both the buyer and seller - ANSWER-Marketing facilitates exchange relationships
between buyers and sellers. What is marketing's intended outcome for this relationship?
Customer - ANSWER-The marketing mix is built around the ____________.
A management philosophy - ANSWER-The marketing concept is _______________.
, Strengths and weaknesses - ANSWER-An analysis of ________ examines internal factors that
give the organization certain advantages and disadvantages in meeting the needs of its target
markets.
Marketing Strategy - ANSWER-Safeway Foods Corporation is involved in identifying and
analyzing a target market. The firm then develops a marketing mix to satisfy individuals in that
market to gain long-term competitive advantages. Based on this example, Safeway is creating a
_____________.
Internal marketing - ANSWER-Starbucks provides training and support to its employees,
including health car benefits. Through these ____________ efforts Starbucks is better able to
deliver quality products and service to its customers.
a group of individuals and/or organizations that have needs for products in a product class and
have the ability, willingness, and authority to purchase these products - ANSWER-According to
the text, a market is defined as _____________________.
A specific group of customers on whom a company focuses its marketing efforts. - ANSWER-
What is a target market?
Relationship marketing - ANSWER-Today, establishing long-term, mutually beneficial
arrangements in which both the buyer and seller focus on value enhancement through the
creation of more satisfying exchanges is known as ______________.
Product - ANSWER-Deciding to add gel insoles to its running shoes would be a change in the
____________ element of the marketing mix for Nike.
a written document detailing activities to be performed and control marketing actions -
ANSWER-The marketing plan is_____________.
Matches the needs of the target market. - ANSWER-Marketing managers to develop a marketing
mix that does what?
Strategic planning - ANSWER-Managers at the Longshore Cooperation are engaged in a complex
process of revising their organization's mission and goals and developing corporate strategy,
marketing objectives, marketing strategy, and, eventually, a marketing plan. What is this process
called?
Provide products that satisfy customers' needs and allow the organization to achieve its goals -
ANSWER-According to the marketing concept, an organization should try to do what?
How they satisfy customers. - ANSWER-Organizations should define themselves not according to
the products they produce but according to what?
MARKETING- 1 STUDY QUESTIONS
AND ANSWERS
Ideas - ANSWER-Mothers Against Drunk Driving (MADD) is a group that works to change
attitudes and laws about driving under the influence of alcohol. MADD primarily markets
_______.
Customer Relationship Management - ANSWER-L.L. Bean uses technology to help them identify
specific customers, established interactive dialogues with them to learn about their needs, and
combine this information with their purchase histories to customize products to meet those
needs. L.L Bean is using what approach?
Limits the marketing manager's ability to measure the effectiveness of marketing activities. -
ANSWER-The time lag between the performance of marketing activities and their results does
what?
Market share - ANSWER-The percentage of a market which actually buys a specific product from
a specific company is referred to as that product's _______________.
A philosophy that a product's market growth rate and its market share are important
determinants of its marketing strategy. - ANSWER-The Boston Consulting Group's matrix is
based on what?
The marketing mix - ANSWER-Distribution, price, promotion, and product are all elements of
what?
Opportunites - ANSWER-Favorable conditions in the marketplace environment that could
produce business rewards for the organization if acted upon properly are called what?
Customers - ANSWER-What is the focal point of all marketing activities?
Satisfaction for both the buyer and seller - ANSWER-Marketing facilitates exchange relationships
between buyers and sellers. What is marketing's intended outcome for this relationship?
Customer - ANSWER-The marketing mix is built around the ____________.
A management philosophy - ANSWER-The marketing concept is _______________.
, Strengths and weaknesses - ANSWER-An analysis of ________ examines internal factors that
give the organization certain advantages and disadvantages in meeting the needs of its target
markets.
Marketing Strategy - ANSWER-Safeway Foods Corporation is involved in identifying and
analyzing a target market. The firm then develops a marketing mix to satisfy individuals in that
market to gain long-term competitive advantages. Based on this example, Safeway is creating a
_____________.
Internal marketing - ANSWER-Starbucks provides training and support to its employees,
including health car benefits. Through these ____________ efforts Starbucks is better able to
deliver quality products and service to its customers.
a group of individuals and/or organizations that have needs for products in a product class and
have the ability, willingness, and authority to purchase these products - ANSWER-According to
the text, a market is defined as _____________________.
A specific group of customers on whom a company focuses its marketing efforts. - ANSWER-
What is a target market?
Relationship marketing - ANSWER-Today, establishing long-term, mutually beneficial
arrangements in which both the buyer and seller focus on value enhancement through the
creation of more satisfying exchanges is known as ______________.
Product - ANSWER-Deciding to add gel insoles to its running shoes would be a change in the
____________ element of the marketing mix for Nike.
a written document detailing activities to be performed and control marketing actions -
ANSWER-The marketing plan is_____________.
Matches the needs of the target market. - ANSWER-Marketing managers to develop a marketing
mix that does what?
Strategic planning - ANSWER-Managers at the Longshore Cooperation are engaged in a complex
process of revising their organization's mission and goals and developing corporate strategy,
marketing objectives, marketing strategy, and, eventually, a marketing plan. What is this process
called?
Provide products that satisfy customers' needs and allow the organization to achieve its goals -
ANSWER-According to the marketing concept, an organization should try to do what?
How they satisfy customers. - ANSWER-Organizations should define themselves not according to
the products they produce but according to what?
