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Cob 300 Marketing Test 1 questions with answers 100% correct
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Cob 300 Marketing Test 1 questions with answers 100% correct
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Cob 300 Marketing Test 1The five major value and engagement themes - correct answer ✔✔1. Creating value for the customers in
order to capture value in return
2. Customer engagement & today's digital & social media
3. Building & managing strong, value creating brands
4. Measuring and managing return on marketing
5. Sustainable marketing around the globe
Needs become - correct answer ✔✔wants
Wants become - correct answer ✔✔demands
Marketing Myopia - correct answer ✔✔Company's paying more attention to products than to the
products actual benefits
Market - correct answer ✔✔Set of actual or potential buyers of a prod or service
Marketing Management Orientations:
Production
Product
Selling
Marketing
Societal Marketing Concept - correct answer ✔✔Before was handmade specialty goods
Production- Value cheap and available (industrial revolution, if you produce it, it will be sold)
Product- Value quality, performance, and innovation
,Selling- Value huge marketing effort
Marketing- Value consumers wants and desires and target competitively
Societal Marketing Concept- Society, Consumers, Company (profits)
4 P's of Marketing - correct answer ✔✔Product, Placement, Price, Promotion
Customer engagement marketing - correct answer ✔✔New, being a part of consumers everyday lives
and conversations
Customer Lifetime Value - correct answer ✔✔All purchases EVER made by a customer
Customer Equity - correct answer ✔✔All of a company's potential and actual customer lifetime values
added up
The Marketing Process - correct answer ✔✔1. Understand market place and customer needs and wants
2. Design a customer value driven marketing strategy
3. Construct on integrated marketing program that delivers superior value
4. Engage customers build profitable relationships, create customer delight
5. Capture value from customers to create profits and customer equity
Marketing Offerings - correct answer ✔✔Products, services, experiences
5 core customer & marketplace concepts - correct answer ✔✔1. needs, wants, demands
2. market offerings
3. value / satisfaction
4. exchanges & relationships
, 5. Markets
Value proposition - correct answer ✔✔Innovative service / feature intended to make a company or
product attractive to customers
Strategic Planning - correct answer ✔✔The process of making a plan fit for company goals, capabilities,
and the changing market opportunites
4 Steps of Strategic Planning - correct answer ✔✔1. Define company mission
2. Set corporate objectives / goals
3. Design the business portfolio
4. Plan marketing / other functional strats
Mission Statement - correct answer ✔✔Company's purpose / what it wants to accomplish
Business Portfolio - correct answer ✔✔Collection of businesses / products that best fit the strengths and
weaknesses of a comp / make up that comp
SBU's - correct answer ✔✔Strategic business units
Can be comp division, product line within a div, or sometimes even a single brand or product
Growth Share Matrix - correct answer ✔✔Market Growth Rate- Measures market attractiveness
Relative Market Share- Measures a company's strength in a particular market
Stars- High growth, high share
Differentiation, high then eventually plateauing
Cash cows- Low growth, high share
Create a lot of cash that can be reinvested
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