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MKTG 396 Exam Questions and answers | With complete solution 2024/25
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MKTG 396 Exam Questions and answers | With complete solution 2024/25
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MKTG 396 Exam Questions and answers| With complete solution 2024/25
Marketing - is the process by which companies create value for customers and build
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strong customer relationships in order to capture value from customers in return.
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The Marketing Process - In the first four steps of ______________________________,
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companies work to understand consumers, create customer value, and build strong
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customer relationships. In the final step, companies reap the rewards of creating superior
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customer value.
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marketing myopia - Many sellers make the mistake of paying more attention to the
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specific products they offer than to the benefits and experiences produced by these
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products. These sellers suffer from ...
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brand experiences - Smart marketers look beyond the attributes of the products and
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services they sell. By orchestrating several services and products, they
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create_______________________________for consumers.
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mass marketing - Yesterday's companies focused mostly on
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____________________________________ to broad segments of customers at arm's
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length.
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customer-engagement marketing - The old marketing involved marketing brands to
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consumers. The new marketing is
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________________________________________________—fostering direct and
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continuous customer involvement in shaping brand conversations, brand experiences,
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and brand community.
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intrusion - Today's greater consumer empowerment means that companies can no
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longer rely on marketing by ____________________. Instead, they must practice
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marketing by attraction—creating market offerings and messages that engage consumers
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rather than interrupt them.
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consumer-generated marketing - A growing part of the new customer dialogue is
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______________________________________________, by which consumers
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themselves are playing a bigger role in shaping their own brand experiences and those of
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others. This might happen through uninvited consumer-to-consumer exchanges in blogs,
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video-sharing sites, and other digital forums.
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Strategic planning - is defined in the textbook as "the process of developing and
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maintaining a strategic fit between the organization's goals and capabilities and its
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changing marketing opportunities" (p. 46). It involves defining a clear company mission,
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, setting supporting objectives, designing a sound business portfolio, and coordinating
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functional strategies.
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The BCG (Boston Consulting Group) matrix - uses two critical dimensions in business:
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market growth rate and relative market share.
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Portfolio analysis - is the "process by which management evaluates the products and
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businesses that make up the company (textbook, p. 49), and the BCG matrix is a tool that
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helps to perform such an analysis.
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ii Market growth rate - is an indicator of how well an industry as a whole performs.
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Relative market share - shows how strong the company is compared to the main
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competitors.
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ii the whole organization - the strategic plan provides direction to...
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ii the marketing department - the marketing plan provides direction to...
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ii secondary data - is generally less expensive but also less accurate and current,
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ii Primary Data - is generally more accurate but also the most expensive
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microenvironment - consists of the actors close to the company that affect its ability to
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serve its customers—the company, suppliers, marketing intermediaries, customer
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markets, competitors, and publics.
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Marketing intermediaries - help the company promote, sell, and distribute its products to
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final buyers. They include resellers, physical distribution firms, marketing services
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agencies, and financial intermediaries
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public - is any group that has an actual or potential interest in or impact on an
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organization's ability to achieve its objectives.
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ii customers - are the most important actors in the company's microenvironment.
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Demography - is the study of human populations in terms of size, density, location, age,
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gender, race, occupation, and other statistics.
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The demographic environment - is of major interest to marketers because it involves
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people, and people make up markets.
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Millennials - In the postrecession era,____________________ are the most financially
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strapped generation. Facing higher unemployment and saddled with more debt, many of
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these young consumers have near-empty piggy banks
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