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This is the decision of customers to purchase a new product or service.
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- Wat is the purpose of the Situation Analysis section of a Marketing Plan? Select one: a. To provide an overview of the internal and external conditions impacting the firms. b. To develop decision criteria on which markets to enter. c. To create of market support for a firms product or service. d. To only focus on which products in the market to compete against.1. Discuss the relationship of product and customer’s needs. 2. Discuss the relationship of price and cost of the customers. 3. Discuss the relationship of place and convenience. 4. Discuss the relationship of promotion and communications. 5. Are 4Cs important in marketing? Why? 6. Why is there a need to discuss 4Cs in marketing?Marketing objectives can best be described as:a. How the company utilizes it resourcesb. The end results or outcomes that a company is looking to achieve within a given timeframec. The tactics that the company utilizesd. The amount of profit the company wants to achieve over a given period
- 1. The pattern of growing and declining sales in a product category over time is a. primary stage. b. product life cycle. c. development stage. d. introduction stage. 2. Your friend Kevin just bought a shirt and tie that you think are ridiculous, and you need to tell him politely that they just won’t work. You think back quickly to what you know from marketing about the customer experience. Which of the following would NOT be considered an individual influence of the customer experience that can help you figure out what to say? a. You know the store where he purchased it would exchange the shirt and tie if he explained why he needs to return it. b. You know he is old enough to make purchases on his own c. You know he can afford it. d. You know he is single and does not live with his family who might give him advice. 3. A valid marketing objective meets which of the following criteria? a. All of these b. It must be measurable. c. It must be specific d. It must be time-bound.5 Type the correct answer in the box. Spell all words correctly. Which type of light is primarily used as a light source in stores? light is primarily used as a light source in stores. ResetCHOOSE THE BEST ANSWER 17- Since the world is constantly changing, and new circumstances or trends can dramatically affect how you do business, it is therefore advisable for marketers to do: Group of answer choices myopic planning long-term planning only contingency planning static marketing plans 14- Which implementation approach does the book say is more advantageous because it moves some decision-making authority closer to the frontline people in the company? Group of answer choices Implementation through Change Implementation by Command Implementation through Consensus Implementation by Authority
- Market segmentation plays a vital role in the marketing strategy to identify the suitable customers in the market for which the company needs to address its products. Its importance as an essential variable in the strategy-implementation process stems from the notion that O it allows a firm to operate with no resources O it directly affects marketing mix variables the company strategies do not require increased sales through new markets and products O it allows a firm to minimize per-unit profits and per-segment salesCHOOSE THE BEST ANSWER. PLEASE ANSWER AS SOON AS POSSIBLE 1- What is the best need/benefit-oriented approach to defining a car? Descriptions of a car's engine size and features Outlining the warranty that comes with the car Describing how it provides more efficient and reliable transportation Showing the beautiful color and styling 2- What is the best way for TWU to define their "market" in a marketing sense? the location of their buildings current and potential students the faculty and staff delivering the product the mix of programs they offer 3- Which of the following is not recommended for a marketing plan? Communicate the plan to appropriate managers. Once you have a good plan in place, do not change it for at least a year. Marketing plans should be creative. Use common sense. 4- Which of the following is not a current trend (described in book/class)? Increasing consumer demands Decreasing price sensitivity among consumers Overall…As a marketing consultant, a prospective business man has approach you to advise him on his intention of venturing into the market with a new product. 1. Explain to him the approaches he can consider 2. Analyze the factors that need to be consider for each approach. 3. Illustrate to him the potential stages of the market his product needs to survive to be successful on the market.
- 1. Market segmentation is the way a company decides to group customers based on *a.Difference in age, genderb.Differences in their needsc.Difference incontinentd.Difference in numbers 2. The efficiency frontier is not *a.Dynamicb.Staticc.Convexd.Straight 3. Economies of scale are unit cost reductions associated with *a.Profitabilityb.large scale of outputc.Increasing volume of salesd.Merger 4. Economics of scale arises specifically *a.Company going globalb.Company increases profitc.Company expandsd.Company increases output 5. What rates can determine the demand for a company’s products *a.Growthb.Accelerationc.Declined.Interest6. A standardization strategy involves the company *a.Operate in single industryb.Producing one basic offeringc.Segments in different marketd.Compete globally 7. A fragmented industry a.Consists of relatively smaller brandsb.Mainly about retail businessc.A good number of small and medium businessesd.Large player with small market 8. Fixed costs are costs that…CLO #1 - Identify, define, and describe key marketing components, product life cycle, 3Cs and 4Ps and corresponding marketing strategies. CLO #2 - Recommend solutions to marketing problems using appropriate concepts, principles, analytical techniques, and theories. CLO #3 - Evaluate the quality of proposed solutions to marketing management problems against appropriate criteria, including organizational constraints. CLO #4 - Summarize the relevance and application of concepts, principles, and theories used in marketing to contemporary events and global markets and evaluate marketing decisions. CLO #6 - Evaluate the ethical implications and aspects of social responsibility of certain marketing campaigns and strategies.4. Explain each key ingredients. (i) The value of the good or service should be determined. (ii) There should be willingness to buy the product. (iii) The demander should have the purchasing power to buy that good or service.