BAMM-6102-2013 T(UGRD) Marketing Management PDF

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BAMM-6102-2013T(UGRD) MarketingManagementlink.springer/chapter/10.1007/978-1-4842-4221-6_quizlet/205765189/marketing-300-ch91012-flash-cards/quizlet/249615418/chapter-10-quizzes-flash-cards/studyblue/notes/note/n/chapter-14/deck/168 1424PRELIM QUIZ 1Marketing is a management process that includes 4 ...

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BAMM-6102-2013T(UGRD) Marketing Management https://link.springer.com/chapter/10.1007/978-1-4842-4221-6_7 https://quizlet.com/205765189/marketing-300-ch91012-flash-cards/ https://quizlet.com/249615418/chapter-10-quizzes-flash-cards/ https://www.studyblue.com/notes/note/n/chapter-14/deck/1681424

PRELIM QUIZ 1 Marketing is a management process that includes 4 elements, namely: Select one: a. people, price, product, promotion. b. price, place, promotion, product. c. product, price, promotion, service. d. promotion, place, price, people. _____ is the reason customers buy from you and not the competition. Select one: a. Undying Sales Promotion b. Unique Sales Proposition c. Unique Sales Business d. Unified Service Promotion Knowing your customers can be done by Select one: a. asking random questions to feel their pulse. b. identifying decision-makers who are buying your product or service. c. studying future changes in your customers’ markets and lives to anticipate needs. d. All of the above _____ is the most basic concept for marketing. Select one: a. None of the above b. Desire c. Human needs

d. Imagination

What we want is largely influenced by Select one: a. our family and friends. b. culture and individual personality. c. mass media. d. pressure from society. A study showed that 80% of U.S. consumers say they would spend more money just to ascertain Select one: a. they are first in the market. b. None of the above c. a superior customer experience. d. an excellent product. Humanize your communication means Select one: a. empathizing and emoting with customers. b. using face to face when interacting with customers. c. making sure to use your customers’ names. d. All of the above _____ are the major factors of customer commitment. Select one: a. Open communication and integrity b. All of the above c. Customer satisfaction and trust d. Product excellence and service Inbound marketing is also known as Select one: a. push marketing b. strategic marketing c. All of the above

d. pull marketing Traditional outbound marketing uses Select one: a. email blasts b. T.V. ads, billboards c. All of the above d. magazines, catalogues, brochures Marketing is positioning the right product in the right place, at the right price, when there is any opportunity. Select one: True False No matter how good your product or service is, the reality is that no-one will buy it if they don't see it. Select one: True False At the center of every successful business is knowing and understanding customer needs. Select one: True False Your Unique Sales Proposition is permanent even if the market changes. Select one: True False It is not proper to monitor what your competition is doing because of business ethics. Select one: True False If you engage in direct selling to individuals, find out your customers' demographics like age, gender, occupation, marital status and interests.

Select one: True False Increase in customer base happens when you are nice to them. Select one: True False Negative feedback and customer complaints are stumbling blocks to a business’ success. Select one: True False Inbound marketing costs 62% less per lead than outbound marketing. Select one: True False The surge of information accessible on the internet has caused a radical shift in consumer purchasing behavior. Select one: True False

PRELIM QUIZ 2 Strategic marketing planning is an one-time on-going process that the management and operations staff of a company goes through to develop and execute effective marketing strategies. Select one: True False The strategic marketing planning process includes developing a strategic viewpoint for the company to work on and how to implement the strategy; identifying promotional opportunities and assessing the marketing opportunities; researching, analyzing and identifying the target markets; preparation and execution of the marketing plan; and measuring and assessing the results of the marketing efforts of the company.

Select one: True False A strategic marketing plan is used as rules and regulations a guide in conducting the company’s daily business as well as making short-term and long-term plans. Select one: True False The main benefit of a strategic marketing plan is that it will guarantee revenue and profit for the company it presents an organized, written guide for a business to follow to attain its objectives and goals. Select one: True False Knowing who the target market is, what they do, how old they are, where they live, how they think and feel, what their hobbies are and more are not important major considerations in crafting a strategic marketing plan. Select one: True False Factors such as customers, people, process to create the product or service, as well as the presentation of the product are some of the added areas of the 4Ps of marketing. Select one: True False Research and monitoring your competition is a minor major component of developing an effective marketing strategy. Select one: True False You cannot can combine both mix and strategy because it will make your business weak strong. Select one: True

False To attain the company’s objectives in the target markets, you need to plan, analyze, control, and implement pray. Select one: True False A SWOT analysis is a detailed analysis of the company’s situation. Select one: True False The Single Attribution method is used by appending revenue cycle projections to a first touch single attribution the most popular methodology for monitoring the results of marketing programs. It is done by appointing all the value to the first or last program that touched the deal. Select one: True False The Attribute across Multiple Programs and People is the approach that projects several touches from several people to close a deal and tries to measure the contribution of each individual touch. Select one: True False The Multi-Touch Attribution is best done with a complex simple even distribution. Select one: True False A great way to assess the real impact of a specific marketing program is to examine its effectiveness against an organized control group by comparing the results of both groups. Select one: True False

Regression is a statistical technique that shows how outcomes of sales volume rely on a range of independent marketing touches and other non-marketing elements. Select one: True False

PRELIM EXAM There are six buyer-readiness stages: awareness, knowledge, liking, preference, conviction, and purchase. Select one: True False

Customer value-based pricing is customer driven and cost-based pricing is product driven. Select one: True False

The last 4 stages of the business buying process are Select one: a. performance review, order-routine specification, supplier selection, proposal solicitation b. problem recognition, general need description, product specification, supplier search c. proposal solicitation, supplier selection, order-routine specification, performance review d. problem recognition, general need description, product specification, proposal solicitation

At the center of every successful business is knowing and understanding customer needs. Select one: True False

The method that takes the budget to be allotted for promotion equal to what competitors spend is called the affordable method. Select one: True False

Business buying decisions are affected by a complex combination of the following factor/s: Select one: a. environmental b. individual c. organizational d. All of the above e. interpersonal

Subculture Culture is a set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions while culture subculture is a group of people with shared value systems based on common life experiences and situations. Select one: True False

Differentiated marketing is targeting several market segments and designs separate offers for each. Select one: True False

The MIS caters only to the company’s marketing and other managers. Select one: True False

Direct marketing entails personal interaction between two or more people, so each individual can monitor the other’s needs and traits and then carry out quick modifications. Select one: True

False

Rational appeals point to an audience's sense of what is right and proper. Select one: True False Value-based pricing is setting prices on the basis of the costs for producing, distributing, and selling the good and a fair rate of return for its effort and risk. Select one: True False The systematic gathering and analysis of publicly available information about markets is known as competent marketing intelligence. Select one: True False When a product is on a decline some marketing strategies are to diversify brand and models, price to match or beat competitors, build more intensive distribution, advertise brand differences and benefits, and increase sales promotion to encourage brand switching. Select one: True False Bait-and-switch advertising is persuading consumers to come to the store seeking for a product that is falsely promoted and making them swap to another one, a more expensive and appreciated one. Select one: True False Market costing reverses the conventional process of first designing a brand new product, setting its cost, and then marketing it. Select one: True False

Members of the buying organization who will actually use the purchased product or service. Select one: a. Influencers b. Buyers c. None of the above d. Users

Each seller is vigilant and responsive to their rivals’ pricing strategies and marketing moves in a monopolistic competition. Select one: True False

The major difference/s of business and consumer markets is/are the Select one: a. All of the above b. nature of the buying unit c. types of decisions made d. decision process

Market segments must be measurable, accessible, substantial, differentiable and actionable. Select one: True False

Positioning is evaluating each market segment’s attractiveness and selecting one or more market segments to enter. Select one: True False If you engage in direct selling to individuals, find out your customers' demographics like age, gender, occupation, marital status and interests. Select one: True False

Government markets include Select one: a. governmental units b. All of the above c. units that purchase or rent goods/services for carrying out the main functions of government d. federal, state, local It is not proper to monitor what your competition is doing because of business ethics. Select one: True False Knowing your customers involves interacting and being with them. Select one: True False Micro-environmental Macro-environmental forces include demographics, economics, cultural and social factors, political and legal factors, technology and the natural environment while macro-environmental micro-environmental forces are distinct and unique, such as customers, marketing intermediaries, producers, public entities and the company itself. Select one: True False

You can assess and evaluate information needs through an effective management interactive system or MIS. Select one: True False

An effective MIS balances what data users would like to own against what they really need and what is viable to offer. Select one: True False

Service firms can differentiate their image by using symbols and branding. Select one: True False

Packaging is the information that is printed on or with the package. Select one: True False

Dissonance-reducing Complex buying behavior is consumer buying behavior in situations characterized by high consumer involvement in a purchase and significant perceived differences among brands. Select one: True False

Personal selling is an effective promotional tool because it is very believable. Select one: True False

Demand and price are normally inversely related. Select one: True False

The major steps in designing a customer-driven marketing strategy are market segmentation, targeting, differentiation and positioning. Select one: True False

The demographic environment is a major force that can shape opportunities and pose threats in a company’s macro-environment. Select one:

True False

Satisfied customers are a public that add to a marketing initiative through positive word-of-mouth. Select one: True False

People can form different perceptions of the same stimulus because of selective retention, selective attention, and selective distortion. Select one: True False

Primary data consists of information that already exists somewhere, having been collected for another purpose while secondary data consists of information collected for the specific purpose at hand. Select one: True False

Total quantity management is a manner where the company’s employees participate in constantly making the quality of products, services, and business process even better. Select one: True False

The only aspect in the marketing mix that draws in revenue is price; all other factors represent costs. Select one: True False A value delivery network is a set of interdependent organizations that help make a product or service available for use or consumption by the consumer or business user. Select one:

True False

A private brand is also known as a store brand or distributor brand. Select one: True False

“Mountain Dew projects a youthful, rebellious, adventurous, go-your-own-way people. Coca-Cola Zero appears to target more mature, practical, and cerebral but good-humored people.” – is an example of demographic segmentation. Select one: True False Information alone has no worth its value comes from its use. Select one: True False Business purchases often involve __________________at many levels of the buyer’s organization. Select one: a. All of the above b. complex technical and economic considerations c. interactions among people d. large sums of money The Attribute across Multiple Programs and People is the approach that projects several touches from several people to close a deal and tries to measure the contribution of each individual touch. Select one: True False A general version of the new-product idea stated in generic consumer terms is called a product concept. Select one: True

False

Undifferentiated marketing strategy is targeting different market segments with one offer. Select one: True False

MIDTERM QUIZ 1 Factors that influence consumer purchasing power and spending patterns are included in the natural economic environment. Select one: True False The areas of concern in the natural environment are the shortage of raw materials, increased pollution, government involvement in natural resources management, among others. Select one: True False The demographic environment is a major force that can shape opportunities and pose threats in a company’s macro-environment. Select one: True False The technological environment accounts for forces that develop new technologies, developing new product and market opportunities. Select one: True False Reactive Proactive marketing takes on the environmental management perspective using psychological, political, economic and public relations skills to manage environmental forces to the company’s benefits while proactive...