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MKG 22400 - Exam 1 review - chapters 1-4 Flashcards | StudBud
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MKG 22400 - Exam 1 review - chapters 1-4
MKG 22400 - Exam 1 review - chapters 1-4
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Flashcards
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Questions
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Answers
1
Business success is not determined by the _____ but by the _____.
accountant, marketer
producer, customer
marketer, accountant
customer, producer
2
Customer relationship management (CRM) helps ________.
firms manage customer touch points to maximize customer loyalty.
firms create artificial demand in the market.
customers locate the best deals in the market.
firms monitor and minimize employee turnover
3
Nielsen data is an example of _________.
inexpensive data
useless data
primary data
secondary data
4
Which company has emerged as the world's super "eco-nanny?"
Patagonia
Walmart
Coca-Cola
Tesla
5
The success rate selling to an
existing
customer is 60-70%; the success rate selling to a
new
customer is ______.
35-50%
5-20%
50-60%
90-100%
6
If a company has "Marketing Myopia," then they ____________.
love their customers more than their product
don't have a clue about marketing
don't have the ability to forecast customer needs
love their product more than their customers
7
The real value of marketing information lies in how it is used _____.
in creating advertising campaigns.
in analyzing budgets
in determining selling prices for products.
in the customer insights it provides
8
The 4P's of marketing are ________ to deliver ________.
tools; value
tools, profit.
letters; knowledge
concepts; customers
9
Opportunities and threats come from an analysis of ____________.
our customers
the external environment
market research
the firm itself
10
Which is NOT a
current
economic trend marketers should be monitoring?
The increasing number of people applying for unemployment
The number of people who have missed a rent/mortgage payment
All of these are important
The increasing size of the budget deficit
11
According to Peter Drucker, the aim of marketing is to ______________.
sell products
maximize the profit of the company
fulfill unrealistic customer expectations
make selling unnecessary
12
Customer satisfaction is a typical goal of companies. To do better, they can delight customers by ___________.
using celebrities to advertise products
regularly using promotional tools such as "buy one and get one free.
regularly putting products on sale
under promising and over delivering
13
Over the last 20 years, the US population has shifted toward the _______ states.
Midwest
Sun Belt
Corn Belt
Northeast
14
The launch of Cherry Coke in 1985 was an example of ___________ for Coca-Cola
Diversification
Market Development
Market Penetration
Product Development
15
Which one is true of CASH COWS?
They are not a large source of cash for expansion.
They often help finance question marks and stars.
They should be divested.
They require lots of cash to maintain market share.
16
Which of these are true about the US population? Can select multiple answers.
It is getting older.
It is clustering in the midwest
It is getting whiter.
It is becoming more value conscious.
17
Which one is NOT part of the external environment marketers analyze?
Natural
Economic
Technological
Security
18
Which of these is NOT a market oriented business definition?
We bring innovation to every home.
We make high-quality consumer food products.
We sell success and status.
We empower customers to realize their dreams.
19
Marketing is fundamentally about E, S, R, and V. Which one is the most important?
V
E
S
R
20
Information collected from Internet search engines or social media is ____ data.
binary
primary
low-level
secondary
