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CGCM Marketing Management - Study Guide Questions And 100% Correct Answers
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CGCM Marketing Management - Study GuideQuestions And 100% Correct Answers
Average pricing - Answer pricing that is calculated by taking the total cost for a given
period divided by the quantity sold in that period to set a price.
BCG Matrix - Answer a growth/share matrix created in 1968 by the Boston Consulting
Group to help organizations analyze business units and product lines
brand - Answer The identity of a specific product, service, or business.
business intelligence - Answer information collected by an organization on customers,
competitors, products , processes, or services.
buyer behavior - Answer the way individuals behave in a purchasing situation.
cash cow - Answer as part of the BCG matrix, a product or a business unit that
generates unusually high profit margins that it is responsible for a large amount of a
company's operating profit. This profit far exceeds the amount necessary to maintain
the business, and the excess is used by the business for other purposes.
competitive analysis - Answer analyzing a competitor's strategies, capabilities, prices
and costs.
copyright - Answer the exclusive right of a creator to reproduce, publish, perform,
display or sell his or her own works.
core competencies - Answer skills or knowledge sets that enable a company to provide
the greatest level of value to its customers. Factors that a business sees as being
, central to the way it works and is not easy for competitors to imitate.
cost-plus pricing - Answer the simplest pricing method. The firm calculates the cost of
producing the product and adds on a percentage (profit) to that price to give the selling
price.
culture - Answer behavioral patterns and values that characterize a group such as
consumers in a target market.
customer service representative (CSR) - Answer a job title in the service industry that
covers a variety of customer facing occupations.
demographic segmentation - Answer sometimes referred to as market segmentation is
dividing potential markets into smaller groups by the characteristics of potential
customers, such as age, sex, income and education.
demographics - Answer the characteristics of a specific population, such as a set of
potential customers.
dogs - Answer as part of the BCG matrix, a product or business unit that has slow
growth and a low market share. These units typically breakeven and don't generate a lot
of cash.
e-commerce - Answer consists of buying and selling products or services over an
electronic network such as the internet.
event-based marketing - Answer promoting goods or services through specific events.
flexible pricing strategy - Answer allows a business to quickly adjust pricing as
necessary to accommodate a changing business climate or to overcome competitive
challenges. A flexible pricing strategy also empowers customers to negotiate pricing
based on their business size or buying power. A marketing approach that offers
different prices to reflect differences in customer demand.
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