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COB 300D Atav Final Exam questions well answered to pass
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COB 300D Atav Final Exam questions well answered to pass
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COB 300D Atav Final Examproduction, sales, market, value based - correct answer ✔✔what are the 4 eras of marketing?
value - correct answer ✔✔marketing helps create...
production-oriented era - correct answer ✔✔Firms believed a good product would sell itself
sales-oriented era - correct answer ✔✔Between 1920-1950, With overproduction they depended on
heavy doses of personal selling and advertising
market-oriented era - correct answer ✔✔products were plentiful, and consumers could choose products
based on quality, convenience, and price
value-based marketing era - correct answer ✔✔marketing firms recognized they had to give their
customers greater value than their competitiors
SWOT - correct answer ✔✔situation analysis is conducted using what?
strengths, weaknesses, opportunities, threats - correct answer ✔✔what does SWOT stand for?
strengths, weaknesses - correct answer ✔✔which components of SWOT are internal?
opportunities, threats - correct answer ✔✔which components of SWOT are external?
portfolio analysis - correct answer ✔✔management evaluates the firm's various products and businesses
and allocates resources according to which products are expected to be the most profitable for the firm
in the future
,strategic business unit - correct answer ✔✔what does SBU stand for?
stars - correct answer ✔✔SBUs with high market shares in high-growth markets
question marks - correct answer ✔✔SBUs with low market shares in high growth markets
cash cows - correct answer ✔✔SBUs with high market shares in low growth markets
dogs - correct answer ✔✔SBUs with low market shares in low growth markets
Market penetration, market development, product development, diversification - correct answer
✔✔What are the four growth strategies in marketing?
market penetration - correct answer ✔✔employs the existing marketing mix and focuses the firm's
efforts on existing customers
market development - correct answer ✔✔employs the existing marketing offering to reach new market
segments, whether domestic or international
product development - correct answer ✔✔offers a new product or service to a firm's current target
market
diversification - correct answer ✔✔a strategy of increasing sales by introducing new products into new
markets
geographic, demographic, psychographic, geodemographic, benefit, behavioral - correct answer
✔✔what are the 6 segmentation methods?
geographic segmentation - correct answer ✔✔organizes customers into groups on the basis of where
they live
, demographic segmentation - correct answer ✔✔groups consumers according to easily measured,
objective characteristics such as age, gender, and income
psychographic segmentation - correct answer ✔✔dividing a market into different segments based on
social class, lifestyle, or personality characteristics
geodemographic segmentation - correct answer ✔✔the grouping of consumers on the basis of a
combination of geographic, demographic, and lifestyle characteristics
benefit segmentation - correct answer ✔✔groups consumers on the basis of the benefits they derive
from products or services
behavioral segmentation - correct answer ✔✔divides consumers into groups on the basis of how they
use the product or service
occasion segmentation - correct answer ✔✔based on when a product or service is purchased or
consumed
loyalty segmentation - correct answer ✔✔investing in retention and loyalty initiatives to retain their
most profitable customers
identifiable, substantial, reachable, responsive, profitable - correct answer ✔✔what are the 5 factors of
evaluating segment attractiveness?
identifiable - correct answer ✔✔firms must be able to identify who is within their market to be able to
design products or services to meet their needs
substaintial - correct answer ✔✔if market is too small, it won't generate sufficient profits or be able to
support marketing mix activities
reachable - correct answer ✔✔know the product exists, understand what it can do, recognize how to
buy
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