We can as the definition of culture.

A set of values, perceptions, wants and behavours

These are the types of needs that a consumer have.

Physical, Social & Individual needs

People's possessions affect the way the buy because _____.

what they own reflects their identity

This is not a good example of a Psychological Factor that would affect a consumer's behaviour.

The country's economic situation

These entities exist in marketing's micro-environment.

Customers, Suppliers & Marketing Intermediaries.

In a Product-Market Expansion Grid, if a company does Product Development, it means ______.

New Products in Current/Existing Markets

The "product" concept assumes that consumers will favour products that offer ______.

the best quality, performance & innovative features

In the BCG Matrix, "Dogs" are considered as products or services that _____.

occupies low market share in a low-growth market

Market segmentation means _______.

dividing market into distinct groups of buyers

The definition of Marketing Myopia is the mistake of paying more attention to the ______.

specific product features instead of long term benefits

In marketing, "positioning" means the position of the value in the minds of the consumer _____.

relative to other rivals / substitutes

This is the main goal of Marketing.

Attract new customers & retain or grow current customers

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Principles of Marketing, PMK (LSBF)

20 termsStudBud Administration67 plays

Topic 01 Marketing Concepts Topic 02 Market Environment Topic 03 Consumer & Buying Behaviour

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Questions 20

Answers

1
We need to sell instead of market when the goods are ________.
down-graded goods
expired goods
unwanted goods
unsought goods
2
We can as the definition of culture.
A sub-set of people with shared experiences & situations
An ordered division of society members
A set of values, perceptions, wants and behavours
Parts of the Government
3
These are the types of needs that a consumer have.
Dominating, Commanding & Diabolical needs
Social, Psychological & Individual needs
Individual, Personal & Private needs
Physical, Social & Individual needs
4
People's possessions affect the way the buy because _____.
sellers do not know what consumers want
what they own reflects their identity
consumers are actually quite naive
they have a lot of money
5
Marketing is always focused on the customers' ________.
fancies & desires
logic & logistics
needs & wants
money & wealth
6
Labour Laws, Health, Technology & Safety Regulations are forces that exist in ________.
marketing's Macro-environment
the ecological environment
a company's Internal Environment
marketing's Micro-environment
7
This is not a good example of a Psychological Factor that would affect a consumer's behaviour.
Consumer's perceptions
The country's economic situation
Consumer's beliefs & Attitudes
Consumer's motivation
8
"Cash Cows" in the BCG Matrix has the ability to fund _____.
the twinkle twinkle little "Stars" only
the "Question Marks" only
the "Stars" & "Question Marks"
the "Stars" & "Dogs"
9
These entities exist in marketing's micro-environment.
Political, Technological & Ecological Forces
Competitors, Government & Socio-cultural Forces
Customers, Suppliers & Marketing Intermediaries.
London School of Business & Finance
10
This is a typical example of a consumer's "wants".
Rest & sleep
Air & water
Power & Domination
Food & shelter
11
Buying a house would fall under a _____ type of buying decision by the consumer.
variety seeking
dissonance reducing
complex
habitual
12
In a Product-Market Expansion Grid, if a company does Product Development, it means ______.
Current Products in Current/Existing Markets
New Products in New Markets
Current/Existing Products in New Markets
New Products in Current/Existing Markets
13
The "product" concept assumes that consumers will favour products that offer ______.
the best quality, performance & innovative features
the best sound, pitch & aesthetic features
the best delivery, logistics & are free from damages
the best shape, size & height
14
In the BCG Matrix, "Dogs" are considered as products or services that _____.
occupies low market share in a high-growth market
occupies low market share in a low-growth market
occupies high market share in a low-growth market
occupies high market share in a high-growth market
15
Market segmentation means _______.
dividing market into distinct groups of buyers
dividing the product to various markets
dividing market into distinct categories of products
dividing buyers into distinct categories of needs
16
The definition of Marketing Myopia is the mistake of paying more attention to the ______.
specific product features instead of long term benefits
long term benefits instead of the specific product features
both the short & long term features of a product
seller's eyesight instead of the customer's eyesight
17
Marketing is defined as _________ process
managerial & social
a very complicated
cultural & managerial
social & cultural
18
In marketing, "positioning" means the position of the value in the minds of the consumer _____.
relative to other cultures
relative to other consumers
relative to the Government
relative to other rivals / substitutes
19
Habitual buying by consumers will usually be products like _____.
taking a vacation to Canada
property, land & cars
enrolling in a Diploma Program
bread, groceries & stationery
20
This is the main goal of Marketing.
Retain current customers & grow new customers
Attract new customers & retain or grow current customers
Attract current customers & grow new customers
Grow new and current customers

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