Question: TRUE OR FALSE question 1- 5 Making business purchases is so much easier and efficient than making purchases as an individual consumer 2. The mission
TRUE OR FALSE question 1- 5
- Making business purchases is so much easier and efficient than making purchases as an individual consumer
2. The mission and vision statement helps to lay out the companys overall strategic plan and objective for the organization
3. The Ansoffs Expansion Grid is the most common marketing tool used to measure the success of SBUs and other partner companies.
4. Products labelled as Question marks operate in highly competitive markets that require frequent monitoring and observation.
5. High levels of consumerism and increased attention to e-commerce were key players in the failure of many businesses during the Co-vid 19 Pandemic
6. Dubbed the Louis Vuitton of phones, Apples gains reflect the iPhones loyal following, particularly in the United States and China. With their use of savvy digital marketing campaigns to burnish its brand with a sheen of prestige, they are capitalizing on the Value Proposition tactic of
a. More for More b. More for Less
c. The Same for Much Less
d. More for the Same
7. Perfume Manufacturers such as Burberry, Ralph Lauren and Calvin Klein strive to be competitive by being innovative and relevant in their industry. These firms advertising and marketing approach is to target several market segments and design separate offers for each. In this case they would be using
a. Micromarketing (Customization)
b. Undifferentiated (Mass) Marketing
c.Concentrated (Niche) Marketing
d. Differentiated (Segment) Marketing
8. When a firm develops and maintains a long-range fit between its goals and capabilities, it is performing:
a.
business portfolio planning
b.
mission planning
c.
values planning
d.
strategic planning
9. For researchers, being able to gain fresh marketing information by understanding the customer and the marketplace as the basis to create customer value, engagement and relationships is known as gaining _____________.
a.
Customer Insight
b.
Marketing Intelligence
c.
Mass Media
d.
Internal Database
10. Which of the following is NOT a common variable used to segment consumer markets?
a.
Usage rate
b.
Operating characteristics
c.
Geographic location
d.
Loyalty status
11. Which of the following is a disadvantage of using information from internal databases?
a.
Obtaining information from internal databases is both time-consuming as well as expensive.
b.
Internal information may be incomplete or in the wrong form for making marketing decisions.
c.
Using information from internal databases leads to biased research findings.
d.
Internal databases do not support highly sophisticated technologies that make it difficult to store large volumes of data.
12. Ford's philosophy was to perfect the Model-T vehicle so that its cost could be reduced further for increased consumer affordability while making it available in large quantities. This reflected the _______________ concept of Marketing Management. On the other hand, the modern Ford Motor Company still focuses on making an affordable vehicle but now makes a priority, the production of more fuel efficient and one that pollutes significantly less. So they are more reflective of the _____________________ concept
a.
Production and marketing
b.
Selling and marketing
c.
Product and production
d.
Production and societal
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