Consumer Spending and Natural Environment Quiz
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Questions and Answers

Which level of planning focuses on delineated product groups that operate on a clearly definable market?

  • Concern-/company level
  • SBU-level
  • Product/market-combinations (correct)
  • Strategic planning process

    • What is a mission statement?

  • A statement of the organization's profit goals
  • A statement of the organization's assets and competencies
  • A statement of the organization's purpose (correct)
  • A statement of the organization's marketing plans

    • Which of the following best describes marketing?

  • The process of selling products and generating profits
  • The process of satisfying existing customer demand
  • The process of engaging customers and creating customer value (correct)
  • The process of stimulating customer input

    • According to the text, how should a mission statement be defined?

    <p>Based on customer needs</p> Signup and view all the answers

    Which of the following is NOT true about marketing?

    <p>Marketing is only about selling products</p> Signup and view all the answers

    According to the text, how is value created in marketing?

    <p>Value is created through co-creation between supplier and consumer</p> Signup and view all the answers

    Which of the following is NOT a component of the business portfolio?

    <p>Marketing mix</p> Signup and view all the answers

    Portfolio analysis is a major activity in strategic planning where management evaluates the __________ that make up the company.

    <p>Products</p> Signup and view all the answers

    Strategic business units can be a:

    <p>All of the above</p> Signup and view all the answers

    The BCG growth-share matrix is designed to help with long-term strategic planning by reviewing a company's portfolio of products and deciding where to invest, discontinue, or develop products.

    <p>True</p> Signup and view all the answers

    Which of the following is NOT a component of the macroenvironment in marketing management?

    <p>Competitors</p> Signup and view all the answers

    Which group influences a company's ability to obtain funds?

    <p>Financial publics</p> Signup and view all the answers

    Which market type consists of individuals and households buying goods and services for personal consumption?

    <p>Consumer markets</p> Signup and view all the answers

    Which generation is the most financially strapped generation?

    <p>Millennials</p> Signup and view all the answers

    Which one of these is NOT an element of a modern marketing system?

    <p>Customers</p> Signup and view all the answers

    Which marketing management orientation focuses on improving production and distribution efficiency when demand is greater than supply?

    <p>Production (production concept)</p> Signup and view all the answers

    What does CRM stand for?

    <p>Customer Relationship Management</p> Signup and view all the answers

    What does CLV stand for?

    <p>Customer Lifetime Value</p> Signup and view all the answers

    Which tool can help you analyze what your company does best now, and devise a successful strategy for the future?

    <p>SWOT analysis</p> Signup and view all the answers

    What does the PDCA cycle stand for?

    <p>Plan-Do-Check-Act</p> Signup and view all the answers

    What does ROMI stand for?

    <p>Return on Marketing Investment</p> Signup and view all the answers

    What does CLV stand for?

    <p>Customer Lifetime Value</p> Signup and view all the answers

    Which one of the following is a reason for market segmentation?

    <p>To divide a market into smaller segments with distinct needs, characteristics, or behaviors</p> Signup and view all the answers

    What is the definition of environmental sustainability?

    <p>Meeting present needs without compromising the ability of future generations to meet their needs</p> Signup and view all the answers

    What is cause-related marketing?

    <p>A commercial activity whereby companies and non-profit organizations form an alliance to market an image, product, or service</p> Signup and view all the answers

    What is the most dramatic force in changing the marketplace?

    <p>Technological advancements</p> Signup and view all the answers

    According to the text, what are the four requirements for effective segmentation?

    <p>Geographic segmentation, demographic segmentation, psychographic segmentation, behavioral segmentation</p> Signup and view all the answers

    What factors influence the profitability of an industry or market according to Porter's five forces model?

    <p>Intensity of competition among existing firms, threat of potential entrants, substitute products, bargaining power of customers, bargaining power of suppliers</p> Signup and view all the answers

    What is the main difference between undifferentiated marketing and differentiated marketing?

    <p>Undifferentiated marketing targets the whole market with one offer, while differentiated marketing targets several different market segments</p> Signup and view all the answers

    What are the four factors that determine the attractiveness of market segments in the market targeting process?

    <p>Segment size and growth, segment structural attractiveness, company objectives and resources, segment accessibility</p> Signup and view all the answers

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