Ch1:
MKTG Fundamentals
MKTG Fundamentals
Which is NOT one of Kurtz's 4 Eras of Marketing? (MC)
A. Relationship
B. Marketing
C. Demand
D. Sales
A marketing plan usually comes in the form of a presentation deck or PPT. (T/F)
FALSE
Which is NOT a utility of customer value? (MC)
A. Form
B. Benefit
C. Time
D. Place
Firmographic segmentation is normally used when developing target market segments for B2B marketing. (T/F)
TRUE. ("Firm" = company)
Disposable Income is typically spent on luxury items. (T/F)
FALSE.
Name the "4 Ps"
Product
Price
Placement
Promotion
This is any current or potential customers toward whom the business decides to aim their marketing effort.
What is: Target Market
Focus Groups, Interviews, Mall Intercepts and Ethnography are common examples of:
Qualitative Research/Data Gathering
What does RFM stand for?
Recency, Frequency, Monetary Value
Internal factors over which a business has some measure of control are considered __________________. (MC)
A. Strengths and Threats
B. Weaknesses and Opportunities
C. Strengths and Weaknesses
D. Opportunities and Assets
Customer Value (CV) is equal to: (MC)
A. Cost over perceived benefits
B. Perceived benefits over value
C. Perceived benefits over price
D. Cost over value
This is another name for the 4Ps.
The Marketing Mix
Consumer non-durable goods like toothpaste, soap, cleaning supplies, canned goods, and personal care items are commonly positioned using: (MC)
A. Competitive-Based Positioning
B. Benefit-Based Positioning
C. Usage-Based Positioning
D. Lifestyle-Based Positioning
What is churn? (MC)
A. Inventory turn-over
B. Sales volume
C. Customer attrition
D. Customer returns
This is a period of economic decline typically lasting 6-months to a year.
Recession
In this Kotler generation, Marketing applied science from the fields of Economics, Psychology, and Sociology. (MC)
A. Marketing 1.0
B. Marketing 3.0
C. Marketing 2.0
D. Marketing 4.0
Situational Analysis is the second essential element of a good Marketing Plan.
What is the final step in the Situational Analysis?
SWOT Analysis (p. 33)
This is a group of consumers with a similar set of needs and wants.
A MARKET SEGMENT.
This is an (often automated) technique by which a specific action from a customer initiates a related marketing action.
Trigger Marketing
The shrinking of the white majority's cultural dominance in the US is part of this trend in a changing America.
Consumer Kaleidoscope
Name the four characteristics of VALUE that make it always changing or fluctuating.
Value is: Interactive, Conditional, Relativistic, and Dynamic (changes over time)
Name FOUR environments that typically affect any marketing effort.
Legal, Natural, Cultural, Tech, Political, Demographic, Economic
What are the 3 levels of the Buyer-Seller relationship?
1.Pricing
2.Personalization and Customization
3.Problem Solving/Difficult to Replace
This is the process of using data to determine the strength of the relationship between one dependent variables and several independent variables.
Regression Analysis
Name the 5 steps of the Marketing Process in Order.
Situation Analysis (Market Research);Marketing Strategy; Campaign Development; Execution; Measurement