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Quiz 1 Chapter 1-2 Answers

Quiz 1 Chapter 1-2 Answers - Name 1Q ‘ 1(Q Utility refers...

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Unformatted text preview: Name: 1Q; ‘ 1. (Q? Utility refers to the sum of the benefits we receive from using a good or service. QUIZ 1 : Chapters 1 and 2 2. Which Era is defined by the creation of long—term bonds with customers and accountability to society? A. The Selling Era The Consumer Era The New Bra 3. @: Convincing customers that they will acquire greatest value by buying a ' ompany’s products rather than competitors is called Competitive Advantage. 4. SWOT Analysis: S, W, 0, T stand for; llama? W IQMCW' flay—MM... 5. Which two of the four SWOT areas above refer to the external environment? Woman-WE .MM. 6. The 4 elements of the Marketing Mix era: 2,_P1M 14‘0““ fl}: misfit. Blast 11311111311111) 7. This type of planning matches the firm’ 3 resources and capabilities to its market op nities for long—term growth. It begins with a Mission definition. @ Strategic Planning . Functional Planning C. Operational Planning 3. [email protected]‘he Business Portfolio 1s a specific group of competitors that compete for a target market Mm”; WTFMIU [S M at»? dirty/{MP APJWQMSQQ::1F{M I’M-kg.- 9 3t 10. Explain the following 4 Steps of a Marketing F M LO {In tear. it U Perform a Situational Analysis: SWQ'l Wt .895! kgfini€_§immfi Set Marketing Objectives: NMIfiQ/f' WW Wk ' ' ,_._.— -'—— Develop Marketing Strategies: “fpntfif MM! Mi 1 Implement and Control the Marketing Plan. )4 (Here are some words to use: Marketing Mix, development of new brands actio plans, External En' merit SWOTA lesis Spec1f c Sales Figni' es Internal Envir ment Budget T get Market. Aetiendi‘l’k1 ans. Resp sibility. market/penetration.) ,/ ...
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