describe the marketing mix (7Ps) in relation to business opportunity vis-a-vis: a. product b. place c. price d. promotion e. people f. packaging g. positioning
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- 1. Customers prefer one brand over another based on its value, which, in turn, is based on different combinations of a. perceptions and costs. b. needs and wants. c. benefits and perceptions. d. benefits and costs. 2. Understanding your target market so well that you build a relationship with them over time defines what? a. a social orientation b. a sales orientation c. customer relationship marketing d. retention of sometimes undesirable customers 3. Which statement is valid in managing exchanges between a company and its customers? a. The company wants to maximize customer benefits b. Customers are the primary drivers of the purchase decisions. c. Customers want to pay the least amount possible d. The two parties have conflicting goals 4. Cover Co. is a new company with two employees: the husband and wife that founded the company. Cover makes trash can covers that help keep outdoor trash cans secure. Which segmentation method would Cover be least likely to use and why? a.…1) Which of the following is most essential to any definition of marketing?A) demand managementB) the production conceptC) customer relationshipsD) making a sale 2) All of the following are accurate descriptions of modern marketing today, EXCEPT which one? A) Marketing is the creation of value for customers. B) Marketing is managing profitable customer relationships. C) Selling and advertising are synonymous with marketing. D) Marketing involves satisfying customers' needs. 3) According to management guru Peter Drucker, "The aim of marketing is to ________."A) create customer demandsB) identify customer demandsC) make selling unnecessaryD) set realistic customer expectationsFill in the following gaps without explanation. I need answers only. 1. The task of designing, collecting, analyzing and reporting, known as ________ is intended to define marketing problems or opportunities. 2. The buyer’s willingness and ability to buy along, buyer’s consideration to alternative brands, and their income are determinants of _______. 3. A _____ is designed to avoid direct competition of larger companies pursuing the bigger segments. 4. A(n)_____________________ attempts to maintain a strong position in its core product-market(s) but also seeks to expand into new (often closely) related markets. 5. The analysis of how consumer perceive one’s brand in comparison to the competition is known as ______. 6. Companies that establish formal policies and guidelines to ensure that the messages communicated to the customer reflect their unique values and competencies are creating a ____________________________. 7. The rate at which an innovative new product category…
- Business and Marketing Promotion Study Questions 1 ________ is to cost as promotion is to communication a Product b Convenience c Place d Price e None of the above 2 Internal marketing refers to marketing domestically a True b False 3 Which of the following is an example of external marketing? a Staff meetings b Employee handbooks c Television advertising d Intranet communication e Communications to company staff 4 Another term for the marketing mix is the 4 Ps a True b False 5 STP refers to: a Selling, Telling, Promoting b Segmentation, Training, Positioning c Selling, Targeting, Positioning d Segmentation, Targeting, Positioning e Segmentation, Targeting, Pricing 6 Types of environmental considerations are social, legal, economic, technological, demographic and religious a True b False 7 Focus groups are a form of primary research a True b False 8 The first step in conducting marketing research is ÂÂ____________ a Determine the…answer must be brief and concise describe the marketing mix (7Ps) in relation to business opportunity vis-a-vis: a. product b. place c. price d. promotion e. people f. packaging g. positioningIntroduction to Business CH11: Creating Products and Pricing Strategies to Meet Customers’ Needs Quiz 1) Define and provide examples not provided in class of the following terms: a) Relationship Marketing b) Marketing Strategy c) Marketing Mix (Professor's Class sample:restaurants, apple,Amazon)
- Ansoff's matrix is useful for what a. Integrating a business's marketing strategy with general strategic direction b. Establishing an editorial calendar for staff to follow c. Understanding buyer personas and buyer behaviour d. Hiring new staff and training them on marketing tacticsWhen marketers focus on comparing their product versus a competitor's product, theySingle choice. a. should be concerned with total product offering b. look at the relative quality c. formulate a SWOT analysis d. look at the relative quality and total product offeringIdentify what are the proper promotional tools M&S should use while communicating with their customers? 2. Mention 2 growth strategies that M&S can use to secure its profits over time? 3. Describe what are the factors M&S should consider while setting their new products price 4. Define what is meant by marketing mix? And discuss how should M&S use its marketing mix in a synergistic way? 5. Define what is meant by market segmentation and select 3 factors that M&S can use to segment "Per Una" market? 6. What are the factors M&S should consider in order to communicate their new customers the high quality of their customer services inside their retails?
- 1. What are the importance of having Customer Relationship Management in a company? State at least three advantages of having CRM in the company 2. Give one company that represents Color Marketing and know the reason why they use that color.Marketing Strategy 5. Define factors that determine your marketing strategy (at least 3).6. Develop a marketing plan for your business venture. Your Marketing plan should identifythe market segment and all the components of marketing mix (Four Ps).7. Develop marketing material (slide presentation, website, pamphlet, brochures or usingown creativity) to promote your business venture.According to Jantsch (2009), what key elements should a marketing plan address? a. Who you are, what you do, who needs to know, and how to attract attention b. Identity and budget considerations only c. Product features and competitive analysis . d. Target audience and budget considerations