Marketing midterm part 2 – Flashcards
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England, Spain, and Russia are engaging in place marketing in their bid to host the 2018 fifa world cup.
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FALSE
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Marketing in the production era paid close attention to the needs of the consumer. For example, Henry Ford wanted multiple color options for his automobiles in order to accommodate consumer preferences.
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FALSE
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The marketing era is defined by a shift in focus from products and sales to satisfying a consumer's needs.
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TRUE
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If AT&T describes itself as a telecommunications company rather that a telephone company, it is suffering from marketing myopia.
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FALSE
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Maxwell bought a new pair of jeans from V-Men Store and wore it to college. His friend, Bud, appreciated the garment and bought a similar pair of jeans at the nearest V-Men Store that weekend. This is a case of time, place, and ownership utility.
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TRUE
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Marketing planning establishes the basis for a firm's overall strategy.
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FALSE
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The chief executive officer and vice president of marketing spend a greater proportion of their time on operational planning than do managers at other organizational levels.
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FALSE
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Statements such as "increase market share by 25 percent by 2009" or "open 50 to 75 new stores for each of the next five years" are typically part of mission statements.
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FALSE
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SWOT analysis refers to examination of a firms stability, work ethic, organizational structure, and technological expertise.
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FALSE
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According to the BCG matrix, question marks achieve high market shares in high-growth markets.
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FALSE
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Some Florida drivers have license plates that say "Save the Manatee." This is an example of _________ Marketing.
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Cause
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An alumni association at a university sends out announcements promoting the homecoming football game and an alumni association function. This is an example of a combination of ________ and _________ marketing.
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event; organization
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Not-for-profit organizations often market to _____ and ______ may interfere with the organizations marketing program.
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Multiple publics; major contributors
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The emergence of the marketing concept can best be explained by:
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the shift from a sellers market to a buyers market
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The marketing philosophy summarized by the phrase "a high-quality product will sell itself" is characteristic of the __________era.
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Production
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Which of the following competitive forces does not belong to Porters five forces model?
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Rivalry among strategic business units
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Southwest Airlines has one of the lowest levels of operating expenses In the airline industry. This is classified as a(n):
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strength
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A strategic business unit:
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has its own managers, resources, objectives, and competitors
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According to the BCG market share/market growth matrix, the SBU that produces strong cash flows which can be used to finance the growth of other SBUs is the:
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Cash cow
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SuperSavers Market, a small grocery store chain, is working on its tactical plans. The personnel most involved in this operational planning process would be:
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middle management, such as the merchandising and advertising and advertising managers.
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SWOT analysis stands for _________, ____________, ____________,and _______.
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strengths, weaknesses, opportunities, threats
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__________is the process of anticipating future events and condition, and of determining the best way to achieve organizational goals.
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planning
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___________planning guides the implementation of activities specified in the strategic plan.
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tactical
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In the opening case of chapter 1, the product _______ was initially created by brothers shep and ian murray?
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neckties
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The company/unit that has a low market share in a high industry growth rate is called a _________ _________.
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question mark
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What are the two elements of a Marketing Strategy?
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marketing mix target market
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Define market planning
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implementing planning devoted to achieve market objectives.
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State any two strengths of a company according to the SWOT analysis?
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low level of operating expenses and cost advantages
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Companies/units with high market shares and in low-growth industries are called ________.
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cash cows
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What are the 4 p's in the marketing mix?
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product, place, price, promotion
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Define Marketing
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An activity, set of institutions, and the process for creating, developing, communicating, and exchanging offerings for the customer, client, partner, and the society at a large.
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Define Marketing Myopia
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The failure of the people in the organization of a business recognizing that they have a problem
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What are the five types of non-traditional marketing?
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cause, place, person, organization, event
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"A high quality product will sell itself" was the philosophy of the ________era.
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production
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A "buyers market" is one where there are _______ buyers for ______ goods
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fewer, more
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Marketing of sporting, cultural and charitable activities to selected target markets is called ________marketing
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event
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What are the 4 types of utility
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time, place, form, and ownership
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Marketing the Great Wall of China or the San Diego Zoo is called _____ marketing
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place
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State 3 characteristics of not-for-profit marketing companies.
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1.main goal is not the companies revenue for themselves 2. can be endorsed by public figures 3.pitched to multiple publics
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Vending machines and convenience stores focus on providing ________ utility.
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place
