Question 1

________ is the marketing logic by which a company hopes to achieve profitable customer relationships.
Price
Being a low-cost operator
A consistent product mix
Marketing strategy
Implementing a differentiation strategy

Accepted Answer

The answer of ________ is the marketing logic by which...

Question 2

The four Ps concept takes the seller's or marketer's view of the market.What are the buyer's four Cs?
convenience, cost, competition, and communication
customer solution, customer cost, convenience, and communication
customer solution, customer satisfaction, convenience, and communication
customer satisfaction, customer value, convenience, and customer relationships
customer solution, customer value, convenience, and communication

Accepted Answer

The answer of The four Ps concept takes the seller's...

Question 3

The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors is called ________.
market targeting
positioning
marketing strategy
market segmentation
market extension

Accepted Answer

The answer of The process of dividing a market into...

Question 4

Effective positioning begins with ________ the company's marketing offer in order to give consumers more perceived value.
pricing
aligning
differentiating
promoting
placing

Accepted Answer

The answer of Effective positioning begins with ________ the company's...

Question 5

Each department in a company that carries out value-creating activities can be thought of as a link in the company's ________.
market development
product development
business portfolio
value chain
value delivery network

Accepted Answer

The answer of Each department in a company that carries...

Question 6

In a SWOT analysis, which of the following refers to factors in the external environment?
strengths
strategies
weaknesses
opportunities
trends

Accepted Answer

The answer of In a SWOT analysis, which of the...

Question 7

A sound marketing strategy begins with ________.
positioning
customer analysis
differentiation
promotion
SWOT analysis

Accepted Answer

The answer of A sound marketing strategy begins with ________.
positioning
customer...

Question 8

A value delivery network includes __________.
employees within the company
different departments in the company
the company and its suppliers, distributors and customers
consumers
distributors and consumers

Accepted Answer

The answer of A value delivery network includes __________.
employees within...

Question 9

Multinationals like Honda Motor Co.and Wal-Mart stores have designed programs to work closely with their suppliers to help them reduce their costs and improve quality.This illustrates the importance of an efficient ________.
business model
low-cost operator
product mix
value-delivery network
problem-solver

Accepted Answer

The answer of Multinationals like Honda Motor Co.and Wal-Mart stores...

Question 10

In the marketing management functions, a SWOT analysis should ________ a marketing plan.
precede
coincide with
follow
evaluate
take priority over

Accepted Answer

The answer of In the marketing management functions, a SWOT...

Question 11

Jill Reno has researched new markets and has decided which segments to enter.Next she should decide what ________ her company should occupy in those segments.
position
place
rank
rating
percentage of space

Accepted Answer

The answer of Jill Reno has researched new markets and...

Question 12

Most companies today enter a new market by serving a ________; if this proves successful, they ________.
single market segment; add segments
multitude of segments; add more segments
few segments; add more segments
niche; differentiate
target market; reposition

Accepted Answer

The answer of Most companies today enter a new market...

Question 13

________ is the place a product occupies in the consumer's mind relative to competitors' products.
Product placement
Product position
Market segmentation
Market targeting
Product promotion

Accepted Answer

The answer of ________ is the place a product occupies...

Question 14

In the four Ps of the marketing mix, design, packaging, services, and variety all fall under the category of ________.
product
price
promotion
place
position

Accepted Answer

The answer of In the four Ps of the marketing...

Question 15

The process of customer-driven marketing involves ________, ________, ________, and ________.
product; price; promotion; adaptation
market segmentation; market targeting; differentiation; positioning
marketing analysis; planning; implementation; feedback
analysis; targeting; implementation; control
problem identification; information search; decision; implementation

Accepted Answer

The answer of The process of customer-driven marketing involves ________,...

Question 16

To be successful at marketing, companies must effectively turn marketing planning into ________.
marketing analysis
marketing implementation
marketing control
marketing audits
marketing budgeting

Accepted Answer

The answer of To be successful at marketing, companies must...

Question 17

For Hyundai Corporation, customers who care primarily about the price of a car and its operating economy make up one ________.
market position
value network
market segment
customer extension
value chain

Accepted Answer

The answer of For Hyundai Corporation, customers who care primarily...

Question 18

________ involves evaluating each market segment's attractiveness and selecting one or more segments to enter.
Market segmentation
Product differentiation
Market targeting
Market mixing
Positioning

Accepted Answer

The answer of ________ involves evaluating each market segment's attractiveness...

Question 19

The text suggests that instead of thinking of selling products, marketers would be wise to take the customer's view and think of ________.
providing convenience
offering solutions to problems
initiating two-way communication
offering discounts
connecting services and products

Accepted Answer

The answer of The text suggests that instead of thinking...

Question 20

In a SWOT analysis, which of the following would be considered a strength?
internal limitations
trends in the market
favorable factors in the environment
factors that challenge the company's performance
internal resources

Accepted Answer

The answer of In a SWOT analysis, which of the...

Quiz 2: Company and Marketing Strategy: Partnering to Build Customer Relationships

________ is the marketing logic by which a company hopes to achieve profitable customer relationships. Price Being a low-cost operator A consistent product mix Marketing strategy Implementing a differentiation strategy

The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors is called ________. market targeting positioning marketing strategy market segmentation market extension

Effective positioning begins with ________ the company's marketing offer in order to give consumers more perceived value. pricing aligning differentiating promoting placing

Each department in a company that carries out value-creating activities can be thought of as a link in the company's ________. market development product development business portfolio value chain value delivery network

In a SWOT analysis, which of the following refers to factors in the external environment? strengths strategies weaknesses opportunities trends

A sound marketing strategy begins with ________. positioning customer analysis differentiation promotion SWOT analysis

A value delivery network includes __________. employees within the company different departments in the company the company and its suppliers, distributors and customers consumers distributors and consumers

In the marketing management functions, a SWOT analysis should ________ a marketing plan. precede coincide with follow evaluate take priority over

Jill Reno has researched new markets and has decided which segments to enter.Next she should decide what ________ her company should occupy in those segments. position place rank rating percentage of space

Most companies today enter a new market by serving a ; if this proves successful, they . single market segment; add segments multitude of segments; add more segments few segments; add more segments niche; differentiate target market; reposition

________ is the place a product occupies in the consumer's mind relative to competitors' products. Product placement Product position Market segmentation Market targeting Product promotion

In the four Ps of the marketing mix, design, packaging, services, and variety all fall under the category of ________. product price promotion place position

To be successful at marketing, companies must effectively turn marketing planning into ________. marketing analysis marketing implementation marketing control marketing audits marketing budgeting

For Hyundai Corporation, customers who care primarily about the price of a car and its operating economy make up one ________. market position value network market segment customer extension value chain

________ involves evaluating each market segment's attractiveness and selecting one or more segments to enter. Market segmentation Product differentiation Market targeting Market mixing Positioning

The text suggests that instead of thinking of selling products, marketers would be wise to take the customer's view and think of ________. providing convenience offering solutions to problems initiating two-way communication offering discounts connecting services and products

In a SWOT analysis, which of the following would be considered a strength? internal limitations trends in the market favorable factors in the environment factors that challenge the company's performance internal resources