Marketing midterm part 2

question

England, Spain, and Russia are engaging in place marketing in their bid to host the 2018 fifa world cup.
answer

FALSE
question

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.
answer

FALSE
question

The marketing era is defined by a shift in focus from products and sales to satisfying a consumer’s needs.
answer

TRUE
question

If AT&T describes itself as a telecommunications company rather that a telephone company, it is suffering from marketing myopia.
answer

FALSE
question

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.
answer

TRUE
question

Marketing planning establishes the basis for a firm’s overall strategy.
answer

FALSE
question

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.
answer

FALSE
question

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.
answer

FALSE
question

SWOT analysis refers to examination of a firms stability, work ethic, organizational structure, and technological expertise.
answer

FALSE
question

According to the BCG matrix, question marks achieve high market shares in high-growth markets.
answer

FALSE
question

Some Florida drivers have license plates that say “Save the Manatee.” This is an example of _________ Marketing.
answer

Cause
question

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.
answer

event; organization
question

Not-for-profit organizations often market to _____ and ______ may interfere with the organizations marketing program.
answer

Multiple publics; major contributors
question

The emergence of the marketing concept can best be explained by:
answer

the shift from a sellers market to a buyers market
question

The marketing philosophy summarized by the phrase “a high-quality product will sell itself” is characteristic of the __________era.
answer

Production
question

Which of the following competitive forces does not belong to Porters five forces model?
answer

Rivalry among strategic business units
question

Southwest Airlines has one of the lowest levels of operating expenses In the airline industry. This is classified as a(n):
answer

strength
question

A strategic business unit:
answer

has its own managers, resources, objectives, and competitors
question

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:
answer

Cash cow
question

SuperSavers Market, a small grocery store chain, is working on its tactical plans. The personnel most involved in this operational planning process would be:
answer

middle management, such as the merchandising and advertising and advertising managers.
question

SWOT analysis stands for _________, ____________, ____________,and _______.
answer

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.
answer

planning
question

___________planning guides the implementation of activities specified in the strategic plan.
answer

tactical
question

In the opening case of chapter 1, the product _______ was initially created by brothers shep and ian murray?
answer

neckties
question

The company/unit that has a low market share in a high industry growth rate is called a _________ _________.
answer

question mark
question

What are the two elements of a Marketing Strategy?
answer

marketing mix target market
question

Define market planning
answer

implementing planning devoted to achieve market objectives.
question

State any two strengths of a company according to the SWOT analysis?
answer

low level of operating expenses and cost advantages
question

Companies/units with high market shares and in low-growth industries are called ________.
answer

cash cows
question

What are the 4 p’s in the marketing mix?
answer

product, place, price, promotion
question

Define Marketing
answer

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.
question

Define Marketing Myopia
answer

The failure of the people in the organization of a business recognizing that they have a problem
question

What are the five types of non-traditional marketing?
answer

cause, place, person, organization, event
question

“A high quality product will sell itself” was the philosophy of the ________era.
answer

production
question

A “buyers market” is one where there are _______ buyers for ______ goods
answer

fewer, more
question

Marketing of sporting, cultural and charitable activities to selected target markets is called ________marketing
answer

event
question

What are the 4 types of utility
answer

time, place, form, and ownership
question

Marketing the Great Wall of China or the San Diego Zoo is called _____ marketing
answer

place
question

State 3 characteristics of not-for-profit marketing companies.
answer

1.main goal is not the companies revenue for themselves 2. can be endorsed by public figures 3.pitched to multiple publics
question

Vending machines and convenience stores focus on providing ________ utility.
answer

place

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