MKTG 3340 TEST COMPILATION BUNDLE

Alternative Growth Strategies: • Marketing Penetration • Market Development • Product Development • Diversification Alternative Consolidation Strategies: • Harvesting • Pruning • Retrenchment • Divestment Final Exam Review Product Life Cycle: • Introduction • Growth ...

How does idea generation play a role in the new product development process correct answer: it is stage 2 in the new product development process the new product development process stages correct answer: 1. new product strategy development 2. idea generation 3. screening and evaluation 4. bu...

4 basic business management practices correct answer: 1) strategy 2) execution 3) culture 4) structure sales response function correct answer: relates the expense of the marketing effort to the marketing results obtained. share points correct answer: percentage points of market share, as...

Role of Marketing correct answer: marketing is engaging customers and managing profitable customer relationships. the aim of marketing is to create value for customers in order to capture value from customers in return goal: attract new customers by promising superior value and to keep and grow ...

What are Some Errors in Communication? correct answer: sources may not adequately transform the abstract idea into an effective set of symbols a properly encoded message may be first sent through the wrong channel and never make it to the intended receiver the receiver may not properly transf...

STP correct answer: segment market target market positioning 1 product multiple segments correct answer: tums: you like spicy food you had too much fun last night multiple products and multiple segments correct answer: cars: minivan for family sports car for the CEO mass customizat...

How does idea generation play a role in the new product development process? correct answer: Crowd Sourcing, think of ideas, find a good idea, bring it to life Detailed understanding of Jennifer Pritchard and John Eckhardt's presentation content correct answer: Meet needs of airline passengers...

The purpose of marketing is to... correct answer: generate profitable Revenue Which statement is most likely true about idea generation in the new product development process? A. A company can either develop ideas through internal or external sources but not through both. B. Idea generation is...

The marketing Mix correct answer: 4 controllable factors Price Product Promotion Place Target Market correct answer: one or more specific groups of potential customers toward which an organization directs its marketing program Market Segments correct answer: Homogenous group of buyers t...

How do intermediaries create value? correct answer: Transactional Function: buying/selling/risk taking Logistical Function: storing/assorting (mix of products)/sorting(lots of a single product)/bulk breaking(one large item broken down)/transporting Facilitating: financing/grading/marketing info a...

Role of Marketing correct answer: Generate profitable revenue When a marketer can describe something it is called a correct answer: product concept After buying an item we experience what? correct answer: cognitive dissonance Ways to engage consumers, directly or indirectly correct answe...

how does idea generation play a role in the new product development process? correct answer: new product development process: strong new product planning, systematic and customer driven for finding and growing new products STEPS: 1. idea generation 2. idea screening 3. concept development and...

common mistakes in pricing correct answer: price is too cost oriented price is not revised often enough price doesn't take into account the rest of the marketing mix prices are not varied enough throughout the product line, market segments, distribution channels marketers perspective vs cons...

common mistakes in pricing correct answer: price is too cost oriented price is not revised often enough price doesn't take into account the rest of the marketing mix prices are not varied enough throughout the product line, market segments, distribution channels marketers perspective vs cons...