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Unit 5 Marketing Review Flashcards | StudBud
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Unit 5 Marketing Review
Unit 5 Marketing Review
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Questions
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Answers
1
Which of the following is a difference between the marketing concept and the selling concept?
marketing concept takes inside-out perspective, selling takes outside-in
marketing focuses on customer needs, selling focuses on existing products
marketing is customer conquest, selling is targeting right customers
marketing is product-centered, selling is production-centered.
2
The 4 Marketing Management functions are analysis, observing, implementation, and deviating.
False
True
3
Which of the following concepts calls for sustainable marketing?
the societal marketing concept
the selling concept
the marketing concept
the product concept
4
Break-even pricing involves setting prices based on competitors' strategies, costs, prices, and market offerings
False
True
5
In Chapter 7, we discussed 4 types of consumer products. One of these is:
shopping product
all of the above
unsought product
convenience product
6
An SBU can be ________.
all of the above
a product line within a division
a single product
a company division
7
Modifying a product is an ineffective strategy in the maturity period of the product life cycle.
True
False
8
Which of the following best describes product positioning?
differentiating a market offering to create superior customer value
identifying consumer needs and creating a product to meet those needs
evaluating each market segment's attractiveness, selecting one to enter
arranging a product to have a clear, distinctive, desirable place
9
Both market penetration and market development strategies primarily involve ________.
modifying the company's product line
developing new products
selling in new as well as existing markets
selling the company's current products
10
The 4 consumer perception dimensions are differentiation, relevance, knowledge, and esteem.
True
False
11
Which of the following is the first stage of the buyer decision process?
need recognition
evaluation of alternatives
information search
purchase decision
12
The product concept is a customer-centered, sense-and-respond philosophy.
False
True
13
The 4 types of consumer products are:
convenience, shopping, specialty, and unsought
actual, augmented, constructive, and deductive
childrens, teens, adults, and seniors
aligned, factual, opinionated, and superficial
14
Which of the following pricing strategies is the opposite of FOB-origin pricing?
zone pricing
basing-point pricing
uniform-delivered pricing
freight-absorption pricing
15
According to the five-step model of the marketing process, the first step in marketing is ________.
building profitable relationships, and creating customer delight
capturing value from customers to create profits and customer equity
designing a customer-driven marketing strategy
understanding the marketplace and customer needs and wants
16
Which force is an example of Microenvironment.
economic
natural
None of the Above
demographic
17
Market penetration means making fewer sales to current customers without changing original products.
True
False
18
In the BCG growth-share matrix, question marks refer to products or businesses with a ________.
greater market share than all competitors combined in a saturated market
low market share in a market with high growth prospects
high market share in a market with a high growth rate
low market share in a market that is set to shrink significantly
