Marketing Exam Review PDF

 The demand for most services is extremely time-and-place dependent because customers must be present for service to be delivered.  Mass customization.  Product differentiation.  How are marketing goals defined?  What is an evoked set?  The universal goal of all sales promotion...

 The demand for most services is extremely time-and-place dependent because customers must be present for service to be delivered.  Mass customization.  Product differentiation.  How are marketing goals defined?  What is an evoked set?  The universal goal of all sales promotion activities is _______  Why is assigning responsibility for achieving marketing objectives advantageous?  In terms of supply chain management, what are the four interrelated components?  On what basis are business markets segmented?  With respect to the consumer purchase decision journey, the most important factor that affects the time, effort, and expense dedicated to the search for information is the degree of risk.  Freemium pricing.  Behavioral segmentation.  Pull and push strategies.  What are the four general directions for a firm’s strategic efforts?  Different product development strategies.  Strategic canvas.  Pricing techniques that are unique to business markets.  What is mass market targeting?  What is an extension of one-to-one marketing?  Weaknesses that cannot be converted into strengths are called limitations.  Penetration pricing.  Opportunities and threats typically occur within _______.  Product leadership.  Types of individualized segmentation approaches.  What is a market concentration approach?  Define strategic focus.  What is the basic assumption of mass marketing?  Value-based pricing.  What is an omnichannel concept?  Selective targeting.  Market specialization.  Disruption.  Five sources of power in a supply chain.  Discontinuous objectives.  Service characteristics.  Intangibility as a characteristic of a marketing goal.  What is the disadvantage of cost-plus pricing?  Sales force compensation methods.  Unique characteristics of business markets.  What are slotting allowances?  Objectives provide specific, quantitative benchmarks that can be used to gauge progress toward the achievement of the marketing goals.  Look for causes, not characteristics – what does this mean?  Product line depth.  Just because a market segment meets all criteria for viability does not mean the firm should pursue it. Which of the following is a reason that an attractive segment might be dropped? o The firm has sufficient resources to reach the market segment. o There is overwhelming competition in the segment. o The segment has synergy with the firm’s mission. o The segment is easy to reach with traditional forms of communication. o The segment’s members overlap other segments.  Kodak focused on maintaining market dominance over Polaroid and Fuji but failed to consider Sony, Nikon, Canon, and even smartphones. What mistake did Kodak make? o It identified the wrong brand competitors. o It was too obsessed with market dominance. o It only focused on brand competitors. o It didn't engage in competitive analysis. o It refused to collaborate with its competitors.  In the marketing strategy for grocery store chain, the following statement appears: Our strategy is designed to increase the percentage of repeat customers from 70 percent to 75 percent in the next 6 months. This statement is an example of a: o quantitative goal. o continuous objective. o procedural objective. o qualitative objective. o discontinuous objective.