MKT 600: Database #2 – Flashcards
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1. The "four P's" of a marketing mix are:
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Product, Place, Promotion, and Price
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2. A marketing strategy specifies:
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A target market and a related marketing mix.
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3. "Price"
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is affected by the kind of competition in the target market.
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4. _______ means that the marketing mix is distinct from and better than what is available from a competitor.
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Differentiation
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5. The _______ area of the marketing mix is concerned w/ decisions about getting the 'right' product to the target market when and where it's wanted.
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Place
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6. A firm's decision regarding channel type, market exposure and kinds of intermediaries would fall under the marketing mix variable of:
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Place
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7. 'Target marketing' is contrast to 'mass marketing,'
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focuses on fairly homogeneous market segments.
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8. A firm's 'marketing mix' decision areas would NOT include:
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Profit
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9. Any series of firms or individuals that participate in the flow of products from producer to final user or consumer is known as:
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a channel of distribution
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10. When developing a marketing mix, a marketing manager should remember that:
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'Price' includes markups, discounts, allowances, and geographic terms.
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11. Big Fizz Co., a manufacturer of cola-flavored drinks, wants to add packaged fruit juices to its existing product line. Big Fizz needs to make some decisions regarding packaging and branding of the fruit juices. These decisions would fall under which variable of the marketing mix?
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Product
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12. "Marketing strategy planning" means:
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finding attractive opportunities and developing profitable marketing strategies.
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13. The difference between target marketing and mass marketing is that target marketing;
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focuses on specific customers, while mass marketing aims at an entire market
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14. Good marketing strategy planners know that:
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target marketing does not limit one to small market segments.
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15. The main difference between a 'marketing strategy' and a 'marketing plan' is that:
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time-related details are included in a marketing plan.
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16. A breakthrough opportunity:
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is one that helps an innovator develop a hard-to-copy marketing strategy that will be very profitable for a long time.
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17. The _____ area of the marketing mix includes decisions related to telling the target market or others in the channel of distribution about the 'right' product.
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Promotion
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18. Which of the following would probably NOT be in a proposed marketing plan?
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A statement of how frequently the design of the website will be changed.
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19. Scott Paper uses many intermediaries to reach its target markets; Citibank uses none. Which of the marketing mix variables is being considered here?
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Place
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20. When a firm tries to increase sales by selling its present products in new markets, this is called:
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market development
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21. Ford Motor Co. 'loaned' new Fiestas to social trend setters who drove the cars as part of their meals on Wheels responsibilities. When Ford asked them to write about their driving experiences on Facebook and Twitter, it was emphasizing which aspect of the 4 P's?
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Promotion
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22. An appropriate marketing mix should be determined PRIMARILY by:
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The needs of a target market.
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23. 'Product' is NOT concerned with:
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Wholesale price
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24. Coupons, samples, and point-of-purchase materials are examples of:
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Sales promotion
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25. The managerial process of developing and maintaining a match between the resources of an organization and its market opportunities is called:
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Strategic (management) planning
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26. ______ means trying to increase sales of a firm's present products in its present markets.
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Market penetration
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27. Which of the following statements about a marketing mix variables is FALSE?
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Generally speaking, 'Price' is more important than 'Place"
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28. A S.W.O.T. analysis:
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should help a manger develop a strategy that leads to a competitive advantage.
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29. Marketing strategy decisions concerning Promotion include decisions about:
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training for salespeople
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30. Advertising is:
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Any paid form of non-personal presentation of ideas, goods, or services by an identified sponsor.
