Marketing Final Exam

Aacsb reflective msc blooms application 87 an

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: on 87. A(n) _____ describes and estimates the size and sales potential of market segments of interest to the firm and assesses key competitors in these market segments. a. marketing orientation b. environmental scan c. marketing mix audit d. target market strategy e. market opportunity analysis ANS: E This is the definition of a market opportunity analysis. PTS: 1 REF: 24 Thinking KEY: CB&E Model Research OBJ: 02-7 TOP: AACSB Reflective MSC: BLOOMS Knowledge 88. Heinz is introducing 400 new products in the next two years. To know which markets to reach, Heinz should first perform a: a. market diversification analysis b. market audit c. social audit d. market opportunity analysis e. niche analysis ANS: D An market opportunity analysis (MOA) is the description and estimation of the size and sales potential of market segments that are of interest to the firm. PTS: 1 REF: 24 Thinking KEY: CB&E Model Research OBJ: 02-7 TOP: AACSB Reflective MSC: BLOOMS Application 89. The _____ is the unique blend of product, place, promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market. a. internal environmental mix b. marketing mix c. product mix d. product line e. market portfolio ANS: B This is the definition of a marketing mix. PTS: 1 REF: 25 Thinking KEY: CB&E Model Strategy OBJ: 02-8 TOP: AACSB Reflective MSC: BLOOMS Knowledge 90. The typical starting point of any firm’s marketing mix is the: a. analysis of what production equipment is available and owned by the company b. design of the promotion campaign to be used for the product c. selection of the places through which the good or service will be sold d. determination of the product’s price, enabling future revenues and budgets to be estimated e. development of the good or service to be sold ANS: E The marketing mix typically starts with the product. Without it, pricing, distribution, and promotion are irrelevant. The production capacity can be changed to fit the proposed product. PTS: 1 REF: 25 Thinking KEY: CB&E Model Strategy OBJ: 02-8 TOP: AACSB Reflective MSC: BLOOMS Comprehension 91. Lands’ End guarantees its products for as long as you own them. The company would seem most concerned with which element of the marketing mix? a. Price b. Distribution c. Personalization d. Promotion e. Product ANS: E The product element of the marketing mix includes guarantees and quality. PTS: 1 REF: 25 OBJ: 02-8 TOP: AACSB Reflective Thinking KEY: CB&E Model Product MSC: BLOOMS Application 92. Ocean Spray’s development of Craisins sweetened dried cranberries to compete against raisins most directly affected the _____ element of the company’s marketing mix. a. place b. production c. product d. distribution e. target market ANS: C Ocean Spray began with the product offering of the marketing mix by deciding to sell Craisins. PTS: 1 REF: 25 Thinking KEY: CB&E Model Product OBJ: 02-8 TOP: AACSB Reflective MSC: BLOOMS Application 93. Golden Valley Microwa...
View Full Document

This document was uploaded on 09/29/2013.

Ask a homework question - tutors are online