CH 02

.docx

School

Douglas College *

*We aren’t endorsed by this school

Course

1120

Subject

Marketing

Date

Feb 20, 2024

Type

docx

Pages

4

Uploaded by ProfessorSnakePerson495

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1 Which is an example of an approach to keeping customers happy? Strong presence on social media Staying open longer hours Lower prices Loyalty program 2 Which element of a irm's marketing mix is most closely linked to a consumer’s perception (often versus reality) of quality? Product Price Promotion Place 3 Generally speaking. which of the following is NOT a characteristic of a good marketing objective? It is neither too broad nor too narrow. It details something possible for the firm to achieve. It is clearly tied to specific groups of customers. It focuses primarily on profit. 4 Avalid marketing objective meets which of the following criteria? It must be time-bound. All of these It must be measurable. It must be specific. 5 Marketing strategy is the managerial process of creating plans of action that facilitate what? Reacting to a SWOT analysis Facilitating exchanges that have value to customers and the company Responding effectively to competitive threats Effectively differentiating your product from competitors
Steven has recently been hired as a marketing assistant, and his supervisor tells him to go online and research trends in the marketplace that will affect a new product being launched. Steven is likely working on 7 a unique selling proposition. a mission statement. an implementation plan. a situation analysis. The component of a marketing plan that monitors performance to detect problems is the 8 control structure. SWOT analysis. marketing dashboard. marketing audit. What is the primary reason firms must account for potential market forces in the future? They can overlook potential competitors. They might lose their focus on customers. Because otherwise, they risk becoming obsolete. Market forces constantly evolve. Why is the area of marketing critical to an organization's success? 10 It accounts for the largest percentage of a company’s expenses. It deals directly with customers. It is the “face” of the company to outsiders. It is responsible for advertising and promotion. The failure of large hotel chains like Marriott and Hilton to recognize the disruption that would result from the entrée of Airbnb into their market is a good example of losing control of the marketing process. failure to differentiate. marketing myopia. poor marketing strategy. 11
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