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FoM Lessons 1,2 and 3 Flashcards | StudBud
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FoM Lessons 1,2 and 3
FoM Lessons 1,2 and 3
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Answers
1
Marketing begins with ...
Setting your Marketing Mix
Re targeting
Market research
Segmentation and Positioning
2
The purpose of environmental Scanning is to ...
Help companies identify trends that impact future business
Hire the best talent in your industry
Investigate how to update your business plan financials
Help companies identify opportunities and threats
3
Select the odd one out, Consumer focus Marketing is about ...
Marketing and co-creation concepts
Societal Marketing concept
Product/Production concept
4
PESTEL stands for ...
Political, Economic, Social, Technological, Exportation and Legal
Political, Economic, Social, Technological, Environmental and Legal
Political, Economic, Social, Taxes, Environmental and Legal
Political, Exportation, Social, Technological, Environmental and Legal
5
Consumer behaviour, the aim of marketing when shaping behaviour is to ...
Get customers to compare product with competition
Get customers to pay more for products
Get customers to try the product
6
Porter's 5 forces, The threat of substitution is high when ...
Substitute product is of lower quality
Substitute product performs worse
Switching costs are low
There are no substitute products available
7
Consumer behaviour, Find the true Statement
All of the above
The Decision maker has the final say
The initiator is at the beginning of the buying process
The buyer and the decider may not be the same person
8
Consumer behaviour, what happens first before buying ?
Evaluation of alternatives
Post-purchase evaluation
Information search
Needs recognition
9
Marketing is used by many organisations to sell ...
All of the above
Promises in exchange for votes
Product and Services
Donations
10
Which one of these tools is for Internal Analysis
SWOT analysis
PESTEL analysis
Porter's 5 forces
11
Consumer behaviour, when evaluating alternatives, consumers call upon ...
Internal sources (memory, Experience)
Both
External sources (Word of Mouth, Media, Store visits)
12
Consumer behaviour, At the bottom of Maslow's hierarchy of needs is ...
Physiological needs
The need for Esteem
The need for Security
The need for Self-actualization
13
In Porter's 5 forces, Buyer Power is high when
You only have a few customers
Order size is small
Customers are many differences between competitors
The ability to substitute is low
14
In Porter's 5 forces, Threat of new entry is high when ...
The capital requirements to enter are low
There are no further economies of scale possible
Switching costs are high
15
Consumer behaviour, customer involvement is high when
It is easy for consumers to search for alternatives
The Psychological, financial cost are low
The perceived risk of the transaction is high
16
Competitive Rivalry is evaluated when doing a ...
Porter's 5 forces analysis
PESTEL analysis
SWOT analysis
17
Select the true Statement. Marketing ...
is built on academic research in psychology, sociology, economy, business
Strives to make your product appeal to a broad and diverse market
Aims to develop products with more features than your competition
18
Marketing and Advertising are not the same thing
True
False
19
Consumer behaviour, at the top of Maslow's hierarchy of needs is ...
Self Esteem
The need for Safety
Physiological needs
Self-actualisation
20
Select the odd one out : Product focus Marketing is about ...
A Product concept
A Production concept
A co-creation concept
