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GDP is defined as
1. The value of a country's exports minus its imports
2. The difference between two country's exchange rates
3. The market value of goods and services produced in a country in a year .
4. National income minus national taxes .
For creating ____, thought-sharing sites are particularly effective .
1. A sense of community
2. Excitement .
3. Additional sales .
4. Engaging content .
Firms would prefer to manufacture in a country that has a trade __, as it signals a greater
opportunity to export products to more markets .
1. Surplus
2. Deficit
3. Discrepancy
4. Bonus
NAFTA is a(n) .____
1. South American economic community
2. Economic community that includes India, Brazil, and China
3. Trade agreement that includes Canada, Mexico, and the United States
4. Regulatory branch of the World Trade Organization
A(n) ____ is a limit on the amount of product that can be imported into a country .
1. Tariff
2. Exchange control
3. Quota
4. Barter
Muad is the new restaurant manager in a major hotel. When considering changes in the
restaurant that will increase value to customers, Muad will likely attempt to either provide the
same quality at a lower cost or
1. Improve products and services at the same cost .
2. Increase prices to increase revenue .
3. Reduce customer expectations through reduced service .
4. Lower the quality and the price .
Homogeneous segmentation criteria is the one where
1. Members of a particular segment must be similar in their attitudes, behaviors, financial
status, etc .
2. must be different from other groups .
3. Marketers must be able to identify group members and non-group members .
4. React in a similar manner to market offerings
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_______________________communicates the customer benefits to be received from a
product or service and thereby provides reasons for wanting to purchase it .
1. Market position
2. Value proposition
3. Salient attribute
4. All the above
Hofstede's cultural dimensions’ attempt to classify ___ along six dimensions .
1. Symbols
2. Underlying values
3. Buying patterns
4. Personality
____includes all marketing activities conducted at an international level by individuals or
businesses .
1. Global marketing
2. Extraterritoriality
3. Industrialization
4. Multinationalism
Hofstede's six dimensions includes the following EXCEPT
1. Power distance
2. Uncertainty avoidance
3. Individualism
4. Franchising
While entering into the global market, generally firms begin with
1. Less risky strategies
2. Direct investment .
3. Importing .
4. The riskiest, but most profitable endeavor .
Economies are typically classified by the country's .____
1. Gross domestic product
2. Purchasing power parity
3. Non-tariff barriers
4. Privatization
Marketers often begin Global expansion with
1. Franchising
2. Exporting of goods .
3. Joint ventures
4. Direct investment
A firm's macroenvironment includes all of the following except
1. Competition
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2. Culture
3. Demographics
4. Economics
When creating goods, services, or combinations of both, the fundamental goal of marketers is to
1.Serve all consumers
2.Operate according to government regulations .
3. Stimulate short-term sales .
4.Create value .
The ____ addresses how a product will be designed, how much it should cost, how it will be
promoted, and how it will get to consumers
1. Pricing
2. Competitive advantage
3. Marketing plan
4. Marketing exchange
The difference between a firm's immediate marketing environment and its macroenvironment is
that the macroenvironment
1. Is external
2. Is easier to understand
3. Is easier to control
4. Has fewer components
Stages in the Business-to-Business buying process includes
1. Need recognition, product specification, RFP process, vendor negotiation .
2. Order specification, need recognition, impulse buying, nudging .
3. Vendor performance assessment, RFP process, nudging, test-retest .
4. Need recognition, product specification, RFP process, impulse buying .
Which of the following statement is not true for organizational culture ?
1. Understanding the organizational culture will help to understand the roles of key players in the
buying center .
2. Even within a company, the organizational culture may vary by geography, division or
functional departments .
3. Organizational culture can influence purchasing decisions within a company .
4. Organizational culture does not play any role in the consumers’ decision making process .
Which one of the following component of marketing mix informs, persuades and reminds
potential buyer for a product or service ?
1. Product
2. Price
3. Promotion
4. Place
Derived demand reflects the link between
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1. A company’s requirement for sales and the initiatives taken to increase the sale of their
products .
2. A company’s demand for raw materials and the suppliers sale of raw materials to the company
3. Consumers’ demand for a company’s output and the company’s purchase of necessary
inputs to manufacture/ assemble that particular output
4. None of the these .
The ___ identifies the characteristics of the potential customers, details where to find them,
specifies how to reach them and suggests how much they will pay ?
1. Operational plan
2. Situation analysis
3. Marketing plan
4. Mission statement
For creating ____, thought-sharing sites are particularly effective .
1. A sense of community
2. Excitement .
3. Additional sales .
4. Engaging content .
In terms of the 4E framework, for a firm's offer to excite its targeted customers, the offer must be
1. Unique .
2. Relevant
3. Substantial
4. Easy to understand .
In marketing strategy, advertising and personal selling can be referred to as .___
1. Product
2. Place
3. Price
4. Promotion
While surfing Internet, some do research online, some shop, some look for entertainment, and
many do all three. Each of these groups would be called a
1. Strategic group .
2. Strategic business unit
3. Market segment
4. Cash cow
Among the following statements, which one is relevant to Satisfied Customers
1. Having Loyalty
2. Are the Product Champions
3. Share larger part of wallet
4. All of the above
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The consumer decision process consists of five stages. Which of the following is NOT one of
these stages ?
1. Need recognition
2. Information search
3. High-involvement
4. Purchase decision
When consumers are highly involved with the purchase of an expensive product and they
perceive that the purchase decision entails a lot of risk, they most likely will undertake
.________
1. Limited problem solving
2. Extended problem solving
3. Routine response problem solving
4. Habitual behavior
The Value-based marketing idea requires firms to charge a price that
1. Covers costs and generates a modest profit
2. Includes the value of the effort the firm put into the product or service
3. Captures the value customers perceive that they are receiving
4. Prioritizes customer excellence above operational excellence
Value reflects :
1. Relationship of benefits to costs
2. What you get for what you give
3. Benefits minus Costs
4. All of the Above
Advertisements displayed in search engines like Google etc. are an example of
1. Product .
2. Price
3. Promotion
4. Place
In BCG portfolio analysis, __ are product lines with high relative market share as the result of
past investment, but in low-growth markets .
1. Stars
2. Cash cows
3. Question marks
4. Dogs
STP in marketing stands for______. Which is a three-step process that allows for the
development of a specific and actionable marketing strategy .
1. Segmentation, targeting, Patrolling
2. Segmentation, targeting, positioning
3. Segmentation, testing, positioning
4. Separation, targeting, positioning
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Which of the following is one of the major considerations involved when a company develops its
marketing strategy ?
1. Analysis of human resource policies
2. Determination of sustainable business practices
3. Review of all corporate standards
4. Identification of target markets
Which are the major factors to monitor economic situation
1. Inflation
2. Foreign currency fluctuation
3. Interest rates
4. All of the above
When a government adopts ____, it enforces rules on foreign firms in order to give local
companies an advantage over global competitors .
1. Trade agreements
2. Trade deficits
3. Trade surpluses
4. Trade barriers
The goal of a marketing exchange is that the parties to the transaction be
1. Close partners
2. Codependent
3. Satisfied
4. None of the above
The ____ is one of the mostimportant influencers of consumer behavior .
1. Family
2. Status group
3. Normative group
4. Subculture
Marie tends to purchase various brands of shower gel. She has never been loyal to a specific
brand; instead, she does a lot of brand switching. In this example, Marie exhibits .____
1.Routine response problem solving
2.Significant problem solving
3.Limited problem solving
4.Opinion leadership
Marketing can be performed by :
1.Individuals
2.Organizations
3.Universities
4.All of the above
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Marketing is about satisfying customer ________ & ___________
1.Needs , Wants
2.Wants , Desires .
3.both a and b .
4.None of the above
In the marketing Research process, the first step is to :
1.develop a research plan
2.define research objectives
3.analyzing a research plan
4.implement a research plan
country reduces the ____, it means the country wants to bolster foreign trade .
1.Comparative inflation rates
2.Countertrade exchanges
3.Quotas
4.Tariffs
Marketers often begin Global expansion with
1. Franchising
2. Exporting of goods .
3. Joint ventures
4. Direct investment
The commercial infrastructure of a country consists of systems like _____that allow markets to
function .
1. Population control measures
2. Legal, banking, and regulatory systems .
3. Retailing capabilities .
4. Per capita income estimates
When considering global marketing opportunities in Nepal, Thamer asked the question, "How
we will get it there?" He is concerned about ____ capabilities over there .
1. Production capacity
2. Pricing
3. Advertising
4. Infrastructure
Demographic segmentation are the most common methods because its
1. Easy to define
2. Easy to reach
3. Cost less
4. AandB
_ ______________is an example of Demographic segmentation .
1. Age
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2. Lifestyle
3. City
4. Self-value
When a government adopts ____, it enforces rules on foreign firms in order to give local
companies an advantage over global competitors .
1. Trade agreements
2. Trade deficits
3. Trade surpluses
4. Trade barriers
_is one of the major considerations involved when a company develops its marketing strategy .
1. of human resource policies
2. Determination of sustainable business practices
3. Review of all corporate standards
4. Identification of target markets
When individuals post a picture to Instagram, upload a video to YouTube, or share a link to an
article they have liked on Facebook. What effect of social media engagement is achieved by
them ?
1. Dynamic effect
2. Network effect
3. Information effect
4. Connected effect
Identify all the buying roles within a typical buying center
1. Influencer
2. Initiator
3. Gatekeeper
4. All of the option
Identify all the statement/s that explains the distinction between B2B and B2C transactions .
1. The distinction between B2B and B2C is in the ultimate user of the product or service .
2. B2B transactions tend to be more complex unlike B2C which entails a simple transaction
between retailer and individual consumer .
3. B2B buyers ask potential suppliers to submit formal proposals while B2C buying
decisions are usually made by individuals/families and without formal proposals .
4. All of the above
__marketing includes online marketing activities and also the social media and mobile
marketing.
1. Internet
2. Local
3. Mobile
4. Digital
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Amongst the following types of blogs, which one do marketers have the lowest level of control
over ?
1. Personal
2. Corporate
3. Professional
4. Corporate microblogs
Which type of blog typically provides the highest level of digital marketing control for
companies ?
1. Professional blog
2. Corporate blog
3. Personal blog
4. Microblog
Twitter for example is a kind of microblog that
1. Supports only links to other posts
2. Is run by a small business
3. Allows people to share their thoughts, opinions, and feelings
4. Targets a very small consumer group
__would be considered as an informational content on a website .
1. Design
2. Font
3. Color
4. Audio
Marketers often begin Global expansion with
1. Franchising
2. Exporting of goods .
3. Joint ventures
4. Direct investment
Which one is not a STP analysis of segmenting a market?
1. Define a marketing mix
2. Evaluate segment attractiveness
3. Identify positioning
4. Develop positioning
Suppose to become a more value-driven organization, Saudi Electronic University is holding
regular coffee-hour discussions with its students and surveying its graduates regarding students'
educational needs and desires. By doing so, SEU is becoming more value driven through
1. Sharing information across the organization .
2. Balancing its customers' benefits and costs .
3. Evaluating strategic competitive partnerships .
4. Building relationships with customers .
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Dunkin Donut carefully crafts its offerings and advertising message, and strategically sets prices
and selects locations to appeal to its target market. This represents the_____ of Dunkin Donut .
1. Value-based promotions
2. Market segmentation
3. Positioning strategy
4. Customer excellence strategy
Singapore Airlines is recognized as an industry leader for exemplary customer service, and has
continued to add new ways to serve customers better than competitors. In doing so, it has
focused on sustaining its competitive advantage through ____ excellence .
1. Customer
2. Operational
3. Sustainable
4. Product
When marketers collect data about how, when, why, where, and what people buy, and then
analyzes that data to better serve its customers. This activity refers to:
1. Market procurement
2. Product promotion
3. Marketing analytics
4. Market penetration
To gain a __, Companies must deliver more value and satisfaction to target consumers than its
competitors .
1. Competitive advantage .
2. Competitor analysis .
3. Competitive benchmark .
4. Competitor-centered advantage .
The Marketing Concept is an organizational philosophy dedicated to understand and fulfill
consumer needs through the_ ____________
1. Marketing Functions
2. Customer relationship
3. Value Creation
4. Organizational functions
While using the BCG portfolio analysis, a "dog" should be phased out unless
1. Its marketing manager is a champion of the product .
2. Additional resources could increase its relative market share
slightly
3. It complements or boosts the sales of another product .
4. The market has a small chance of rebounding .
__________is a tool that helps identify business strengths, weaknesses, opportunities, and threats
.
1.SWOT analysis
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2.Portfolio analysis
3.Marketing mix
4.ROMI analysis
When a country reduces the ____, it means the country wants to bolster foreign trade .
1. Comparative inflation rates
2. Countertrade exchanges
3. Quotas
4. Tariffs
A trading bloc is a group of countries
1. That have established a formal agreement to manage trade activities .
2. Using the same currency .
3. With similar cultural shopping patterns .
4. Located next to each other
Which of the following is considered a BRIC country?
1. Italy
2. Indonesia
3. Chile
4. China
__apps would help consumers fulfill their "need to accomplish"
1. Snapchat
2. Flipboard
3. Myfitness pal
4. Skymap
__is one of the major considerations involved when a company develops its marketing strategy .
1. Analysis of human resource policies
2. Determination of sustainable business practices
3. Review of all corporate standards
4. Identification of target markets
The manager of a Carrefour supermarket found out that the items in inventory are nearly
finished. He is thinking about placing another order for same items with the regular supplier. The
manager will be engaging in _______ kind of buying situation .
1. Newbuy
2. Straight rebuy
3. Modified rebuy
4. None of these
What kind of customer are the most profitable in long term?
1. New customer
2. Rebuy customer
3. Loyal customer
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4. Neutral Customer
_ ________a process of defining the marketing mix variables so that targeted customers have a
clear, distinctive, desirable understanding of what the product does .
1. Prospecting
2. Positioning
3. Processing
4. Segmenting
Amongst the following, which are the elements of the digital marketing engagement process?
1. Exciting, listening, and doing .
2. Analyzing, developing, and engaging .
3. Listening, engaging, and evaluating .
4. Listening, analyzing, and doing .
trading bloc is a group of countries
1. That have established a formal agreement to manage trade activities .
2. Using the same currency .
3. With similar cultural shopping patterns .
4. Located next to each other
Hofstede's cultural dimensions' attempt to clasify____ alog six dimensions .
1. Symbol
2. Underlying values
3. Buying patterns
4. Personality
Hofstede's sx dimesions includes the followigs EXCEPT
1. Power distance
2. Uncertainty avoidance
3. Individualism
4. Franchising
Amongst the following, which one is the key feletor/s in assessing segment's profitability: 1.
Income statements .
2. Current and future growth rate
3. Market competitiveness and market access costs
4. Band
A is a example of Demographic sementation .
1. Age
2. Lifestyle
3. City
4. Self-value
Demographic segmetation are the most common methods because itse
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1. Easy to define
2. Easy to reach
3. Cost less
4. A and B
addresses how a product will be desiged, how much it should cost, how it will be promoted, agd
how it will get to consurfers
1. Pricing
2. Compotitive advantage
3. Marketing plan
4. Marketing exchange
Which oe is not a STP analysis segmenting a market?
1. Define a marketing mix
2. Evaluate segment attractiveness
3. Identify positioning
4. Develop positioning
The various B2B markets are
1. Manufacturers
2. Resellers
3. Government institutions
4. All of these .
Which of the followig statements is not true for a New Buy situation in B2B transactions?
1. In a new buy situation, a customer purchases a good or service for the first time .
2. The buying decision is likely to be involved because the customer has no prior
experience with the good or service .
3. In a new buy situation, the customer always makes impulse purchases .
4. The buying center will likely proceed through all six steps in the buying process.
Among the following which can be used as a targeting strategy?
1. Mass marketing
2. Concentrated marketing
3. Micromarketing
4. All the above
a tool that helps identify business strengths, weaknesses, opportunitie,and threats
1. SWOT analysis
2. Portfolio analysis
3. Marketing mix
4. ROMI analysis
a process of defining the marketing mix variables so that targeted customershave a clear,
distinctive, desirable understanding of what the product does .
1. Prospecting
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2. Positioning
3. Process ing
4. Segmenting
-——Company is the one with assets and operations that concentrates on penetrating multiple
countries with a minimally customized marketing mix .
1. Private
2. Domestic
3. Local
4. Global
Although Starbucks, Dunkin' Donuts, and McDonald'sall trive to provide a good ap of coffee and
pastries to their respective target markets, the difference in their hie of target market, design of
their marketing mix, and the basis of their competitive advantage is directly related to their
1. Competitive focus .
2. Consumer franchise
3. Market leadership
4. Marketing strategy
marketing includes online marketing activities and also the social media and motile marketing .
1. Internet
2. Loc al
3. Mo bile
4. Digital
B2B marketing can be defined as the process of Selling goods or services for
1. consumption by retailers to the consumers .
2. Buying goods or services to be used in the production of other goods and services for
endconsumption from selling organizations by consumers
3. Buying and selling goods or services to be used in production ot other goods and
services for consumption by the buying organization andior resale by wholesaiers. and retailers
4. None of the these .
A trading bloc is a group of countries
1. That have established a formal agreement to manage trade activites
2. Using the same currency
3. With similar cultural shopping patterns
4. Located next to each other
When individuals post a picture to Instagram, upload a video to YouTube, or share a link to an
article they have liked on Facebook. What effect of social media engagement is achieved by
them a
1. Dynamic effect
2. Network effects
3. Information effect
4. Connected effect
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— ———a process of defining the marketing mix variables so that targeted customers have a
der. distinctive, desirable understanding of what product does .
1. Prospecting .
2. Positioning
3. Processing
4. Segmenting
Amongst the following, which one is the key factor/s in assesing segments profitaility
1. Income statements
2. Current and future growth rate
3. Market competitiveness and market access costs
4. BandC
Marketers often begin Global expansion with
1. Franchising
2. Exporting of goods .
3. Joint ventures
4. Direct investment
(a) is a business arrangement in which two or more parties agree to pool their resources for the
purpose of accomplishing a specific task. Franchise .
1. Export promotion
2. Joint venture .
3. Direct investment
4. Franchise
eforces rules on foreign firms in order to give local companies an advantage over global When a
government adopts competitors .
1. Trade agreements
2. Trade deficits
3. Trade surpluses
4. Trade barriers
Implemet strategies that respond to multiple environmental forces are called
1. Responding to environment
2. Responding to Finance
3. Responding to law
4. Responding to culture
such as the music i the store, the smell coming from the perfume counters To influence consumer
purchase behavior firms use_ thelightings. ...
1. Personal characteristics
2. Situational factors
3. Perceptions
4. Social factors
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A cosumer's buying choices are influenced by several major psychological factors Except .
1. Motivation
2. Perception
3. Evaluation of alternatives
4. Learning and memory
A cosumer's decisions are influenced by such as culture, reference groups and family
1. Personal characteristics
2. Situational factors
3. Perceptions
4. Social factors
When marketers collect data about how, when, why, where, and what people buy, and then
analyzes that data to better serveis customers.
1. Market procurement
2. Product promotion
3. Marketing analytics
4. Market penetration
Economies are typically classified by the country's .___
1.Gross domestic product
2.Purchasing power parity
3.Non-tariff barriers
4.Privatization
In the existing market strategy of introducing a new product is classified as
1.Market penetration
2.Market development
3.Segmentation
4 development
Which one of the following component of marketing mix represents all the marketing processes
necessary to get the product to the right customer when that customer wants it ?
1. Product
2. Price
3. Place
4. Promotion
Suppose to become a more value-driven organization, Saudi Electronic University is holding
regular coffee-hour discussions with its students and surveying its graduates regarding students'
educational needs and desires. By doing so, SEU is becoming more value driven through
1. Sharing information across the organization .
2. Balancing its customers' benefits and costs .
3. Evaluating strategic competitive partnerships .
4. Building relationships with customers .
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_ ________is everything the buyer gives up like money, time, and/or energy in exchange for the
product .
1. Price
2.Product
3.Place
4.Promotion
When creating goods, services, or combinations of both, the fundamental goal of marketers is to
1.Serve all consumers .
2.Operate according to government regulations .
3.Stimulate short-term sales .
4.Create value .
While surfing Internet, some do research online, some shop, some look for entertainment, and
many do all three. Each of these groups would be called a
1. Strategic group .
2. Strategic business unit
3. Market segment
4. Cash cow
The secod step in the STP process is to:
1. Use segmentation methods
2. Develop a marketing mix, so that an appropriate segment can later be identified
3. Select target markets
4. Produce a list of strengths and weaknesses of the firm's past marketing strategies
The Value-based marketing idea requires firms to charge a price that
1. Covers costs and generates a modest profit
2. Includes the value of the effort the firm put into the product or service
3. Captures the value customers perceive that they are receiving
4. Prioritizes customer excellence above operational excellence
Hofstede's cultural dimensions attempt to classify ————-along six dimensions
1. Symbols
2. Underlying values
3. Buying patterns
4. Personality
People achieve the liked o Facebookeffect when they check in, post a picture to Instagram,
upload a video to YouTube, or share a link to an article they have
1. Media
2. Information
3. Connected
4. Social 27
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People achieve _ effect when they check in , post picture to Instagram upload a video to
YouTube or share a link to an article they have liked on Facebook
1. media
2. information
3. connected
4. social
Successful firms focus their efforts o satisfying customer needs to
1. Are easiest to satisfy
2. Provide minimal core value
3. Competitors have tried and failed to satisfy
4. Match their core competencies
_is the process by which we select, orgaize, and interpret information to form a meaningful
picture of the world .
1. Personality
2. Perception
3. Attitude
4. Learning
Implement strategies that respond to multiple environmental forces are called
1. Responding to environment
2. Responding to Finance
3. Responding to law
4. Responding to culture
A segment is______if its members react similarly and positively to the marketing offering
1. profitable
2. responsive
3. reachable
4. perceptive
The idea of value-based marketing requires firms to charge a price that
1. Covers costs and generates a modest profit .
2. ncludes the value of the effort the firm put into the product or service .
3. Captures the value customers perceive that they are receiving .
4. Prioritizes customer excellence above operational excellence
After the purchase of a product, consumers will be either satisfied or dissatisfied and engage in
.____
1. Problem recognition
2. Evaluation of alternatives
3. Postpurchase evaluation
4. Product expectations
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What is meant by a buying center in B2B transactions? Explain all the buying rules seen
within a typical buying center.
Buying Center: B2B customers decide together
The „buying center“ describes a group of people within a company that are part of the buying
decision. Depending on the product and the company's structure these are not always the same
people.
1- Users
2- Decision makers
3- Influencers
4- External consultants
5- Initiators
6- Gatekeeper
7- Buyer
What do you mean by Hofstede’s cultural dimensions? Explain briefly .
1. Power distance: willingness to accept social inequality as natural.
2. Uncertainty avoidance: the extent to which the society relies on orderliness,
consistency,structure, and formalized procedures to address situations that arise in daily life.
3. Individualism: perceived obligation to and dependence on groups.
4. Masculinity: the extent to which dominant values are male oriented. A lower masculinity
ranking indicates that men and women are treated equally in all aspects of society; a higher
masculinity ranking suggests that men dominate in positions of power.
5. Time orientation: short- versus long-term orientation. A country that tends to have a long-
term orientation values long-term commitments and is willing to accept a longer time horizon
for,say, the success of a new product introduction.
6. Indulgence: the extent to which society allows for the gratification of fun and enjoyment
needs or else suppresses and regulates such pursuits.
How is joint venturing more risky and complex than merely exporting? Explain .
With a joint venture, a company joins forces with another foreign company to produce or market
products or services. With a joint venture, the company is not merely producing domestically and
thenshipping abroad; the company is working hand-in-hand with a foreign company toward a
common purpose
What do you mean by marketing strategy? Explain
A marketing strategy identifies:
• A firm’s target market
• A related marketing mix.
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The bases on which the firm plans to build a sustainable competitive advantage.
Defie the concept of Psychographic segmentation with the help of suitable examples .
Psychographic segmentation is defined as a market segmentation technique where groups are
formed according to psychological traits that influence consumption habits drawn from people’s
lifestyle and preferences. It is mainly conducted on the basis of “how” people think and “what”
do they aspire their life to be.
For example, to monitor the sleep habits of people, a sleep survey is conducted. The sleep survey
template consists of various questions about the sleeping habits of a respondent which help in
drawing
conclusions about what habits impact sleep and the factors that cause sleeplessness.Marketers
rely on different types of online marketing strategies. Describe when a thought-sharing site
would be particularly effective .
What do you mean by culture? Distinguish between Country Culture and Regional Culture
of a country .
Shared meanings, beliefs, morals, values, and customs of a group of people transmitted by
words,literature, and institutions.
Country Culture
• Subtler aspects can be difficult to navigate. • Sometimes best answer is to
establish universal appeal within specific identities of country culture.
Regional Culture
• For national and global chains, particularly important to cater to regional
preferences.
• McDonald’s – slightly different variations of staple menu.
How do firms enhance post-purchase satisfaction and reduce cognitive dissonance? By
reinforcing the decision:
1- return policies
2- thank you letters
3- congratulations letters 4- tags on garments
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midterm exam-MGT201-2021 – reviewed by blue72
Define Generation Cohort. Describe the four major groups of generations discussed from
marketers point o view .
Generational cohorts are groups of people of the same generation who have similar purchases
behavior because they have shared experiences and are in the same stage of life. Applying age as
a basis to identify consumers is quite useful to marketers, as long as it is used in conjunction with
other consumer characteristics. The four major of generations are: Boomers, Gen X, Gen Y and
gen Z.
How is joint venturing more risky and complex than merely exporting? Explain .
With a joint venture, a company joins forces with another foreign company to produce or market
products or services. With a joint venture, the company is not merely producing domestically and
then abroad; the company is working hand-in-hand with a foreign company toward a common
purpose. Exporting requires a smaller financial commitment, and exporting relationships are
easier to sever than joint ventures are.
What do you mean by a marketing Plan? List the elements of a marketing plan?
The marketing plan is broken down into various components how the product or service
will be conceived or designed, how much it should cost, where and how it will be
promoted, and how it will get to the consumer
Step 1 : Business Mission & Objectives
Step 2 : Situation Analysis SWOT
Step3 :Identify Opportunities (Segmentation ,Targeting & Positioning)
Step4 : Implement Marketing Mix (Product , Price , Promotion & Place) .
Step5: Evaluate Performance using marketing metrics
How you can differentiate between Product excellence and Customer excellence?
Product excellence:
Provide products with high perceived value and effective branding and positioning.
Customer excellence:
Retaining loyal customers and Providing outstanding customer service
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midterm exam-MGT201-2021 – reviewed by blue72
you are employed by a firm that is considering the use of mobile advertising as opposed to
digital advertising. Describe the similarities and differences between these two approaches
to advertising
Both mobile advertising and digital advertising are similar, in the sense that they are clearly
distinct from traditional marketing and seek to reach technologically savvy shoppers; however,
they require unique approaches and marketing plans, because a campaign that works well on a
user's desktop computer might not function effectively on a tablet or smartphone. Furthermore,
mobile marketing offers functionalities and advertising tactics that digital ads cannot provide. In
addition, mobile advertising allows brands and marketers to send timely, location-based
communications to consumers at the moment they enter a store or begin a search for a nearby
restaurant on their phones.
What do you mean by Global Marketing? What are the components of a global marketing
strategy?
Global marketing can be defined as “marketing on a worldwide scale reconciling or taking global
operational differences, similarities and opportunities in order to reach global objectives". ...
International marketing is required for the development of the marketing mix for the country.
1. Components of global marketing:
2. infrastructure and technological analysis.
3. analysis of government actions.
4. sociocultural analysis.
5. economic analysis.
Based on the four marketing eras emphasized how did the on the four Ps change ?in which
of the four Ps were each era .
Four areas of marketing are production era, sales era, marketing era and relationship era.
Marketers of production era believed that consumers will buy whatever is produced; the
emphasis was on production. The sales era believed that products must be aggressively promoted
to generate sales; emphasis was on promotions. Marketing era gave rise to idea of brands.
Emphasis was placed on product modification and differentiation customer needs and wants;
emphasis changed from profits through sales to profits through customer satisfaction.
Relationship era gave rise to idea of consumer needs and wants. Emphasis changed from profits
through sales to profits through customer satisfaction. Marketing era and 4 Ps 11. Production era:
Emphasis was only on product. 2. Selling era: Emphasis was promotion. 3. Marketing era:
Emphasis was product (brand creation) 14. Relationship era: Emphasis is on Integrated
marketing (all 4 Ps)
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What do you mean by the baby boomers based on their age , what might be some products
that they would be interested in?
Baby Boomers are the post-World War II generation born between 1946 and 1964. The oldest
Boomers are collecting Social Security and this generational cohort will be the largest population
of 50-plus consumers in the United States. Examples will vary, but based on the age of Baby
Boomers, they may likely be interested in beauty products that prevent aging, products related to
health care and insurance, travel related products, and so on.
Define organizational culture. Explain the types of culture within corporate buying centers
organization's culture defines the proper way to behave within the organization. This culture
consists of shared beliefs and values established by leaders and then communicated and
reinforced throughvarious methods, ultimately shaping employee perceptions, behaviors and
understanding.The four types of organizational buying cultures are democratic,
autocratic,consultative, and consensus.
What do you mean by crowdsourcing? Provide an example of how it is used to build
community in online marketing.
Crowdsourcing is when users submit ideas for a new product or service, and/or comment and
vote on the ideas submitted by others. The text uses the example of LEGO, which allows
individuals to upload ideas for new LEGO products. The ideas receiving a large number of votes
are reviewed by LEGO's product design team, and if approved, a portion of the sales are shared
with whoever submitted the design. bolster their current product offerings, obtain consumer data
to steer future product decisions, fund smaller creative projects, and much more.
explain how YouTube helps customers experience a product or service
Answers will vary, but should include a discussion of how videos posted on YouTube can
provide vivid information about a firm's goods and services how they work, how to use
them, and where they can be obtained. YouTube and similar sites can co me relatively
close to simulating real, rather than virtual, experiences.
