Market segmentation is the process of seeking fewer customers and reduced demand for profit maximization only.
Question 1Market segmentation is the process of seeking fewer customers and reduced demand for profit maximization only.
True
False
Question 2The selling concept holds that consumers will not buy enough of the firm’s products unless the firm undertakes a large-scale selling and promotion effort.
True
False
Question 3An organization’s department follows a customer-centered sense-and-respond philosophy. The department is most likely practicing the product concept.
True
False
Question 4The production concept and the product concept are marketing management orientations that are more likely to lead to marketing myopia.
True
False
Question 5The societal marketing concept calls on marketers to balance consumer wants and desires, company profits, and society’s interests.
True
False
MAR1011 Principles of Marketing
Week 2 Quiz
Question 1The major activity in strategic planning is business portfolio analysis, whereby management evaluates the products and businesses that make up the company.
True
False
Question 2On the BCG matrix, “question marks” are high-growth, high-share businesses or products.
True
False
Question 3Market penetration involves offering modified or new products to current markets.
True
False
Question 4Market development involves company growth by identifying and developing new market segments for current company products.
True
False
Question 5An American airline company started a grocery chain in Australia. This is an example of product development.
True
False
MAR1011 Principles of Marketing
Week 3 Quiz
Question 1The benefits of e-procurement include access to new suppliers, lower purchasing costs, and more time-efficient order processing and delivery.
True
False
Question 2Companies can allow their suppliers access to online sites on which the company posts its buying needs, requests bids, negotiates terms, and places orders, thus minimizing research steps and costs.
True
False
Question 3E-procurement has caused the time between order and delivery to increase significantly.
True
False
Question 4Digital and social media are useful primarily for consumer products and services companies.
True
False
Question 5Government organizations typically require suppliers to submit bids, and normally they award the contract to the lowest bidder.
True
False
MAR1011 Principles of Marketing
Week 4 Quiz
Question 1Through market targeting, companies divide large, diverse markets into smaller segments that can be reached more efficiently and effectively with products and services that match their unique needs
True
False
Question 2In evaluating different market segments, a firm should look at three factors: segment size and growth, segment structural attractiveness, and company objectives and resources.
True
False
Question 3A target market consists of a set of buyers who share common needs or characteristics that the company decides to serve.
True
False
Question 4Niche marketing involves tailoring brands and promotions to the needs and wants of local customer groups–cities, neighborhoods, and even specific stores.
True
False
Question 5A product position is the way a product is defined by consumers on important attributes.
True
False
MAR1011 Principles of Marketing
Week 5 Quiz
Question 1Prices have a direct impact on a firm’s bottom line.
True
False
Question 2Price is the most inflexible of the marketing mix elements.
True
False
Question 3Customer perceptions of the product’s value set the floor for prices.
True
False
Question 4Product costs set the ceiling for prices.
True
False
Question 5In customer value-based pricing, price is considered along with all other marketing mix variables before the marketing program is set.
True
False
MAR1011 Principles of Marketing
Week 4 Midterm Exam
Question 1________ are human needs that are shaped by culture and individual personality.
Necessities
Wants
Demands
Values
Question 2When sellers focus on existing needs and lose sight of underlying customer wants, they suffer from marketing myopia.
True
False
Question 3Amazon.com and GEICO approach customers via Web sites or mobile apps. This is an example of ________ marketing.
mass
niche
individual
direct
Question 4Direct marketing is an expensive way of reaching target markets.
True
False
Question 5A company’s broad mission leads it to develop all of the following EXCEPT ________.
budget objectives
business objectives
sales objectives
marketing objectives
Question 6The major activity in strategic planning is business portfolio analysis, whereby management evaluates the products and businesses that make up the company.
True
False
Question 7The market researchers at HoneyCamp Foods gather daily sales data and sort it by product line and region. With the help of sophisticated tools and techniques, they develop the data needed by marketing managers to evaluate the market share of the company’s different products and also to gain valuable market insights. This mix of people and procedures at HoneyCamp Foods that generate actionable marketing insights represents a(n) ________.
enterprise planning system
product mix
strategic planning system
marketing information system
Question 8Competitor intelligence can be collected from people inside the company, such as executives, engineers, purchasing agents, and the sales force, as well as customers.
True
False
Question 9Green Bees, a popular American heavy-metal band, will perform in Berlin during Christmas. There is a high demand for concert tickets among fans worldwide who are looking forward to the much-awaited performance. In this instance, the high demand for tickets for the Green Bees concert is representative of ________ demand.
primary
negative
derived
elastic
Question 10The main differences between business and consumer markets are in market structure and demand, the nature of the buying unit, and the types of decisions and the decision process involved.
True
False
Question 11________ consists of evaluating each market segment’s attractiveness and selecting one or more segments to enter.
Positioning
Mass customization
Market targeting
Market segmentation
Question 12Demographic segmentation divides buyers into segments based on their knowledge, attitudes, uses, or responses concerning a product.
True
False
Question 13Electron Corp. purchased Proton Corp. by buying all of its assets and ownership equity. This is an example of a(n) ________.
new product development
acquisition
joint venture
licensing contract
Question 14The product life cycle presents challenges. Which of the following is LEAST likely to require a company to adapt its marketing strategies?
developments in technology
decreased manufacturing costs
competition
changing tastes of consumers
Question 15Companies seldom solicit ideas from customers during the idea generation stage of product development.
True
False
MAR1011 Principles of Marketing
Week 8 Final Exam
Question 1What is Marketing?
Question 2Compare and contrast how the Internet has changed “connection with partners”
Question 3What is CRM?
Question 4What are the four steps of the marketing research process?
Question 5Discuss a way in which business markets differ from consumer markets.
Question 6Explain what is meant by “positioning for competitive advantage”
Question 7What is the product life cycle? List three of the five stages and explain what occurs in each stage.
Question 8List and describe the factors to consider when setting prices.
Question 9Discuss some key factors in making channel management decisions.
Question 10Wholesalers add value by performing one or more of nine channel functions. List three of these functions and explain each one.
Question 11Describe the following terms/concepts.
Market segmentation
Income segmentation
Question 12Describe the following terms/concepts.
Exchange controls
Joint venturing
Global firm
Additional content
MAR1011 Principles of Marketing
Week 1 Assignment
Your assignment # 1 relates to chapter 17 Case Positioning QVC to compete. Designed to reinforce the learning objectives of the course, and in conjunction with the final exam will provide a measure of your material’s knowledge and critical thinking skills.
Your case analysis answers must be written in a form of essay formatted APA Style of Writing, no less than 2 full pages (300 words) per page of written content.
With multiple academic resources references/citations (textbook, and one other source of reference, preferable Pro-Quest or STATISTA data bases from the FNU Library) that will support the content of the case study.
With many online retailers having to look giants Amazon and Walmart directly in the eye, home shopping network QVC is rethinking how it can compete and stay relevant in a tight retail marketplace. The infamous network that began in 1986 has grown to an $8.8 billion-plus global shopping organization. One aspect QVC is focusing on is its social media interaction with consumers and the social experience of shopping—a shell that Amazon has not been able to crack.
Many Americans have “cut the cord” due to the high costs of cable television subscriptions, which has negatively impacted QVC’s access to television audiences over time. However, the organization has overcome this obstacle by livestreaming its shopping content on its own website and on other platforms such as Roku, AppleTV, and Facebook Live. The company boasts more than 100 hours per week in simulcast video. QVC hosts even have their own Facebook Fan pages that shoppers can follow.
QVC reaps strong advantages from this strategy. Because QVC is a known entity, it has high consumer trust levels and engagement levels, and the company can track what’s working or not on its marketing dashboard. QVC has found that it can convert consumers from product awareness to actual purchase very quickly with 93 percent of sales coming from repeat customers.
Answer Questions
Discuss QVC’s shift in strategy. What competitive advantages can now be achieved?
Visit qvc.com and connect to one or more social media links. What about QVC’s social media presence engages you the most as a potential customer?
MAR1011 Principles of Marketing
Week 2 Assignment
Exercise Content
Your assignment # 2 relates to chapter 4 / Discussion Questions. Designed to reinforce the learning objectives of the course, and in conjunction with the final exam will provide a measure of your material’s knowledge and critical thinking skills.
Your answers must be written in a form of essay formatted APA Style of Writing, no less than 2 full pages (300 words) per page of written content.
With multiple academic resources references/citations (textbook, and one other source of reference, preferable Pro-Quest or STATISTA data bases from the FNU Library) that will support the content of the case study.
Answer Questions
Explain how marketing intelligence differs from marketing research. Which is more valuable to a company? Why?
What is customer relationship management (CRM)? How is it related to big data and artificial intelligence? Provide an example of a company using artificial intelligence.
MAR1011 Principles of Marketing
Week 3 Assignment
Exercise Content
Your assignment # 3 relates to chapter 6 Case E- Procurement and Mobile-Procurement. Designed to reinforce the learning objectives of the course, and in conjunction with the final exam will provide a measure of your material’s knowledge and critical thinking skills.
Your case analysis answers must be written in a form of essay formatted APA Style of Writing, no less than 2 full pages (300 words) per page of written content.
With multiple academic resources references/citations (textbook, and one other source of reference, preferable Pro-Quest or STATISTA data bases from the FNU Library) that will support the content of the case study.
Case
Online, Social Media, and Mobile Marketing: E- Procurement and Mobile-Procurement
Gone are the days of tedious, paper-laden, labor-intensive B-to-B procurement duties. E-procurement is changing the way buyers and sellers do business, specifically via mobile procurement that offers cloud-based platforms that reduce the search, order, and approval cycle. Most large companies have adopted some form of e-procurement. A recent study found that almost 70 percent of companies utilize some form of e-procurement, mobile procurement, or supply chain management applications. A leading industry platform, Coupa, provides a suite of cloud-based applications for finance, including accounts payable, sourcing, procurement, and expense management that allows customers full functionality from their mobile devices. Employees now enjoy the flexibility and time savings of viewing, approving, or denying requisitions, purchase orders, and invoices. One of Coupa’s large retail clients claimed a reduction from 10 days to only 5 hours in its requisition-approval-process cycle by implementing Coupa’s mobile procurement platform. Talk about savings! Visit www.coupa.com/software/procurement/ to learn more about how this company is revolutionizing the e-procurement and mobile procurement environments.
Answer Questions
Discuss the advantages of e-procurement to both buyers and sellers. What are the disadvantages?
Research mobile procurement and discuss the roles in the buying center that are impacted most by this technology
MAR1011 Principles of Marketing
Week 4 Assignment
Exercise Content
Your assignment # 4 relates to chapter 9 / Discussion Questions. Designed to reinforce the learning objectives of the course, and in conjunction with the final exam will provide a measure of your material’s knowledge and critical thinking skills.
Your answers must be written in a form of essay formatted APA Style of Writing, no less than 2 full pages (300 words) per page of written content.
With multiple academic resources references/citations (textbook, and one other source of reference, preferable Pro-Quest or STATISTA data bases from the FNU Library) that will support the content of the case study.
Answer Questions
Explain how firms obtain new products and why it is an important process for companies and customers.
Name and explain the five stages in the product life cycle (PLC). What message does the product life cycle hold for marketers?
MAR1011 Principles of Marketing
Week 5 Assignment
Exercise Content
Your assignment # 5 relates to chapter 11 / Discussion Questions. Designed to reinforce the learning objectives of the course, and in conjunction with the final exam will provide a measure of your material’s knowledge and critical thinking skills.Your answers must be written in a form of essay formatted APA Style of Writing, no less than 2 full pages (300 words) per page of written content.
With multiple academic resources references/citations (textbook, and one other source of reference, preferable Pro-Quest or STATISTA data bases from the FNU Library) that will support the content of the case study.
Answer Questions
Discuss the two new product pricing strategies and the conditions that must be met for companies to successfully launch new products under each of these strategies.
What is psychological pricing and how is it used by sellers? Give an example.
As a requirement and in order to improve all the writing assignments in the future, this assignment will be submitted via Tutor.com which is accessible on BB content left column “Tools”. You are required to submit your written assignment to the tool and the report that you get back will be your proof and should be attached to the assignment link/submission space to obtain full credit for week # 5 work, I will then reviewed and graded.
MAR1011 Principles of Marketing
Week 6 Assignment
Library Research Assignment
Exercise Content
Your assignment # 6 relates to chapters 12 & 13 / Discussion Questions. Designed to reinforce the learning objectives of the course, and in conjunction with the final exam will provide a measure of your material’s knowledge and critical thinking skills.
Instructions
*Your answers must be written in a form of essay formatted APA Style of Writing.
*Write no less than 2 full pages (300 words) per page of written content.
*Write original 70% or higher.
*With multiple academic resources references/citations (Textbook, and one other source of reference, preferable Pro-Quest or STATISTA data bases from the FNU Library) that will support the content of the case study.
Answer Questions
Research how vendor-managed inventory (VMI) compares to a traditional inventory system. Given their benefits, why wouldn’t all suppliers and retailers establish VMI systems?.
What major trends and developments are retailers facing? How do these developments affect their competitive strategies?
Collepals.com Plagiarism Free Papers
Are you looking for custom essay writing service or even dissertation writing services? Just request for our write my paper service, and we'll match you with the best essay writer in your subject! With an exceptional team of professional academic experts in a wide range of subjects, we can guarantee you an unrivaled quality of custom-written papers.
Get ZERO PLAGIARISM, HUMAN WRITTEN ESSAYS
Why Hire Collepals.com writers to do your paper?
Quality- We are experienced and have access to ample research materials.
We write plagiarism Free Content
Confidential- We never share or sell your personal information to third parties.
Support-Chat with us today! We are always waiting to answer all your questions.
