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Marketing 2e Review Questions

Marketing 2e Review Questions - Chapter 1 1 Google Facebook...

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Chapter 1: _____ 1. Google, Facebook and YouTube are all innovative, and each company has succeeded because it provided value to its customers. _____ 2. The group of firms that makes and delivers a given set of goods and services is known as a supply chain. _____ 3. Value is what you get for what you give. _____ 4. Value-based marketing supports developing long-term customer loyalty. _____ 5. Marketers in a number of major food manufacturers have acted to restrict advertising to children in response to public concerns about obesity in children and the impact of advertising fast food. _____ 6. Marketing involves all of the following EXCEPT: A. exchange B. satisfying customer needs and wants C. creating value D. efforts by individuals and organizations E. production scheduling _____ 7. Whenever Jami calls on his building contractor customers he asks if they are having any problems. In doing so, Jami is addressing which of the following core aspects of marketing? _____ 8. Xavier is analyzing potential market segments. He knows he has to carefully seek potential customers who have both an interest in his products and: _____ 9. When referring to "exchange," marketers are focusing on: _____ 10. Smart marketers recognize that when exchanges take place with their customers, whether in person or electronically, it is an opportunity to:
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A. demonstrate the limitations of competitors' offerings. B. gather information. C. offer discounts. D. investigate alternative distribution system stimuli. E. design new product offerings for other market segments. Chapter 2: _____ 11. To build a sustainable competitive advantage, most companies should focus on a single strategy. _____ 12. STP refers to selection, trying, and planning. _____ 13 . The manager of Brainpower Bookstore checks Amazon.com each week and matches the specials Amazon is offering on bestselling books. Brainpower is using a cost-based pricing strategy. _____ 14. Price should be based on the value that the customer perceives. _____ 15. If Starbucks decided to open new outlets selling organic food to corporate eating facilities they would be pursuing a diversification strategy. _____ 16. Over the last few months, John and his colleagues have been identifying the target markets for his firm's personal care products and then developing the products, prices, distribution and promotion that will appeal to each of those target markets. In doing so, he has also identified what he believes is an advantage his competitors cannot match. John has been
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Marketing 2e Review Questions - Chapter 1 1 Google Facebook...

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