Marketing Mix and Social Media Quiz
71 Questions
2 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What is a critical skill that marketers must possess to make good marketing decisions?

  • Demographic analysis
  • Customer awareness (correct)
  • Marketing math
  • Interpersonal skills

    • What problem can offering too many options lead to for some companies?

  • It's difficult to keep track of inventory and re-order as certain items are sold out
  • They can't specialize, leaving them vulnerable to competition (correct)
  • Your target market, by definition, prefers limited options
  • Suppliers to the company can get confused and send incorrect shipments

    • In the situation described, what most accurately describes Spiro's demand for the Ducati Monster?

  • Spiro demanded transportation, wanted a Ducati, but had no need for a motorcycle
  • Spiro needed transportation and wanted a motorcycle. The salesperson influenced his demand for a Ducati (correct)
  • Spiro needed transportation. His demand for a Ducati was controlled by the salesperson at the dealership
  • Spiro needed transportation, wanted a motorcycle, but had no demand for a Ducati

    • What best differentiates the production orientation from the sales orientation?

    <p>The number of competitive products available</p> Signup and view all the answers

    The difference between a sales orientation and a production orientation is that the sales orientation

    <p>focuses on persuading customers</p> Signup and view all the answers

    A company that is committed to reducing its carbon footprint by becoming more eco-friendly is engaging in which market orientation?

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

    The information Delta Airlines' Frequent Flyer Program gathers from their customer relationship management enables them to

    <p>strengthen the relationship between the airline and the customer</p> Signup and view all the answers

    Warby Parker's goal of giving away one pair of glasses for each pair of glasses sold is an example of which marketing orientation?

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

    A company's inability to keep disinfectants stocked in stores during a pandemic is an example of a weakness in which marketing orientation?

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

    Which of the following is a good example of a company having a social orientation?

    <p>Tom's Shoes ships a free pair of shoes to a child in a third world country for each pair sold in the United States</p> Signup and view all the answers

    ________ is the managerial process of creating and maintaining plans of action to facilitate profitable exchanges with customers.

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

    A company must consider what present and future customers might want in an exchange by developing

    <p>a mission statement</p> Signup and view all the answers

    Once a marketer has differentiated a product, a powerful way to communicate the value of the product to the customer is

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

    During which one of the steps in developing a marketing strategy would the marketer collect feedback to institute modifications to the strategy?

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

    A ________ is a subgroup within an organization that decides its own strategy and has its own customers.

    <p>strategic business unit</p> Signup and view all the answers

    What is a key factor in ensuring the success of a marketing idea?

    <p>Being tested</p> Signup and view all the answers

    What do successful marketers have to understand associated with a particular exchange for a group of customers?

    <p>Perceived value</p> Signup and view all the answers

    What is typically used as a measure of performance when measuring marketing outcomes?

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

    Which of the following is NOT relevant to managing exchanges with customers?

    <p>Development of a significant social media presence</p> Signup and view all the answers

    Which statement is valid in managing exchanges between a company and its customers?

    <p>The two parties have conflicting goals</p> Signup and view all the answers

    In Hector's scenario, what is the best advice for him?

    <p>Hector should define his target market and provide better tacos than his competitors to create perceived value</p> Signup and view all the answers

    Which task would be irrelevant to someone developing a marketing plan for a new product?

    <p>Deciding if the new product is appropriate for your company to market</p> Signup and view all the answers

    Which marketing orientation is focused on customer relationship marketing?

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

    What does customer relationship marketing enable companies to do?

    <p>Build relationships with the target market to increase repeat sales</p> Signup and view all the answers

    What part of marketing orientation involves the effective use of social media?

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

    What should a firm's mission focus on, according to the text?

    <p>Making customers their mission</p> Signup and view all the answers

    What should marketing guide the firm's mission to ensure?

    <p>Its existing and potential future customers</p> Signup and view all the answers

    Which company is an exception to the statement, 'lower price is seldom a sustainable competitive advantage'?

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

    What defines a true competitive advantage according to the text?

    <p>Can't be easily copied by competitors</p> Signup and view all the answers

    What should Paul be doing first for his small import business, based on the text?

    <p>Setting specific marketing goals</p> Signup and view all the answers

    What can a too narrow approach in goal setting lead to, according to the text?

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

    What concept does Jennifer fail to understand, based on the text?

    <p>Product differentiation</p> Signup and view all the answers

    In a small marketing department, what would Ethan most likely be working on based on his background in graphic arts?

    <p>The brand</p> Signup and view all the answers

    In Gillette's pricing strategy, what step does selling the razor at or below cost but having a high mark-up on blades exemplify?

    <p>Implementing the plan using specific marketing tools and tactics</p> Signup and view all the answers

    The failure of Marriott and Hilton to recognize Airbnb's disruption is an example of what, based on the text?

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

    Apart from asking how a firm will be different from its competitors, what other question does differentiation require according to the text?

    <p>How will this difference help offer more value to your target market?</p> Signup and view all the answers

    What is a common misconception about marketing?

    <p>Marketing is equivalent to sales and advertising</p> Signup and view all the answers

    Which of the following is NOT one of the 4 Ps of marketing?

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

    What do simple trade and bartering involve?

    <p>Swapping one product or service for another</p> Signup and view all the answers

    What most accurately describes marketing?

    <p>Marketing is a complex, for-profit enterprise undertaken primarily by skilled professionals</p> Signup and view all the answers

    What mistake did Elsa make when beginning her business?

    <p>She did not consider the perceived value of her cookies versus those of other vendors</p> Signup and view all the answers

    What do marketers offer different combinations of benefits called?

    <p>Value propositions</p> Signup and view all the answers

    What does the Philosophy of Marketing encompass?

    <p>Managing exchanges that maximize the benefits for both the company and the customers</p> Signup and view all the answers

    What accurately describes the philosophy of marketing?

    <p>Conflict goals underlie each exchange</p> Signup and view all the answers

    What do P2P users refer to as benefits in the scenario described?

    <p>Value propositions</p> Signup and view all the answers

    What is the customers' perceived value in monetary terms in Gloria's scenario?

    <p>$1.29</p> Signup and view all the answers

    What accurately describes marketing research?

    <p>A good marketing plan is the foundation for good marketing research</p> Signup and view all the answers

    What did Elsa fail to do when she started her Etsy store?

    <p>Consider the perceived value of her cookies versus those of other vendors</p> Signup and view all the answers

    What is GEICO's unique selling proposition reflected in?

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

    Which element of the marketing mix is commonly used for tracking current marketing performance?

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

    What is a key objective that Burger King set for the new Fish Filet Sandwich?

    <p>Plan implementation</p> Signup and view all the answers

    In what way would the particular issue with Pepsi's controversial advertisement have surfaced?

    <p>Communication and reporting protocols</p> Signup and view all the answers

    What is the main responsibility assigned to Trevor in creating an online tool to monitor marketing performance?

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

    What safeguard is commonly used by companies to help deal with implementation issues?

    <p>Setting expectation levels for each activity</p> Signup and view all the answers

    What element on the marketing dashboard would a marketing manager pay the most attention to during the early days of a new social media campaign's launch?

    <p>Hourly visitors</p> Signup and view all the answers

    What is the least impacted element of GEICO's marketing mix by their business model?

    <p>$Product</p> Signup and view all the answers

    What does a marketing audit aim to uncover?

    <p>The root cause of a marketing problem.</p> Signup and view all the answers

    What was Pepsi apologizing for in the news posting from April 5, 2017?

    <p>A controversial ad featuring Kendall Jenner.</p> Signup and view all the answers

    What is commonly used by companies to track current marketing performance?

    <p>The marketing dashboard.</p> Signup and view all the answers

    What type of safeguard is used by companies to help deal with implementation issues?

    <p>The setting of expectation levels for each activity.</p> Signup and view all the answers

    In the context of marketing, which pair of factors does SWOT analysis involve?

    <p>Strengths and weaknesses</p> Signup and view all the answers

    What is TRUE about marketers and social and digital media?

    <p>Traditional advertising remains effective in addition to social and digital media.</p> Signup and view all the answers

    Under what condition should marketing activities be included in the marketing plan?

    <p>Only if the activities relate to specific marketing objectives.</p> Signup and view all the answers

    When researching trends in the marketplace for a new product, which element is Steven likely working on?

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

    From a marketing perspective, what element has Amanda missed while developing her marketing plan?

    <p>A timeline</p> Signup and view all the answers

    What should the family retail business consider first when transitioning from setting goals to implementation, according to Julie?

    <p>Product, as it is what the rest will be built on.</p> Signup and view all the answers

    What is Toyota CEO Katsuaki Watanabe's announcement an example of?

    <p>A goal</p> Signup and view all the answers

    What do each of the four elements of a company's marketing mix aim to create or communicate to the consumer?

    <p>$Value$</p> Signup and view all the answers

    Which slogan is an example of marketing an idea?

    <p>$You Can't Buy Love, but You Can Rescue a Dog$</p> Signup and view all the answers

    What does Nicole need to expand her understanding of marketing to realize about her internship tasks?

    <p>Place.</p> Signup and view all the answers

    What is the primary differentiator for Home Depot when comparing it to Lowe's?

    <p>Product assortment and availability.</p> Signup and view all the answers

    More Like This

    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser