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Question
Briefly explain the best-known statistical method, trend extrapolation, used by marketers to develop a company's sales forecasts. In your explanation, explain the strengths and weaknesses of using this method.Answer
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The functional level in an organization is whereA. groups of specialists actually create value for the organization.B. employees perform assigned tasks without actually having input into the decision making process.C. all financial outlays are made.D. all company hiring and firing occurs.E. the strategic planners in SBUs makes all decisions regarding which product benefits will be promoted during a promotional campaign.
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The __________ element of the marketing mix includes channels and transportation.A. productB. priceC. promotionD. placeE. people
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The __________ element of the marketing mix includes discounts and allowances.A. productB. priceC. promotionD. placeE. people
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Points of difference refer toA. the fundamental, passionate, and enduring principles of an organization that guide its conduct over time.B. the cluster of benefits that an organization promises customers to satisfy their needs.C. a unique strength relative to competitors that provides superior returns, often based on quality, time, cost, or innovation.D. those characteristics of a product that make it superior to competitive substitutes.E. the use of percentage points of market share to allocate marketing resources effectively for different product lines within the same firm.
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According to the textbook, the terms firm, company, and organizationA. refer to for-profits, non-profits, and government agencies respectively.B. refer to non-profits, government agencies, and for-profits respectively.C. refer to government agencies, for-profits, and non-profits respectively.D. refer to for-profits, government agencies, and non-profits respectively.E. can be used interchangeably to cover both profit and nonprofit organizations.
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The first objective in marketing is to discover consumers' __________.A. diversity of opinion to create advertising messagesB. income to determine the most lucrative price point for a productC. lifetime value of an offering to the organizationD. characteristics that would be useful to segment marketsE. needs to create products that could satisfy them
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A student would like to buy cross-over SUV from a local dealer, but she thinks the payments will be too high. Marketing does not occur in this situation becauseA. two or more parties have unsatisfied needs.B. there is no desire on the part of either party to satisfy its needs.C. one of the involved parties does not have the ability to satisfy its needs.D. there is no way for each party to communicate with one another.E. there has been no assessment of consumer wants and needs.
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Which of the following statements regarding organizational foundation is most accurate?A. An organizational foundation specifies its goals.B. An organizational foundation defines the business that it is in.C. An organization's foundation empowers stakeholders to have a voice in the strategic marketing process.D. An organization's foundation is its philosophical reason for being - why it exists.E. An organization's foundation is the company, its product, and its customers.
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Today's visionary organization uses three key elements to specify its foundation, set a direction, and __________.A. set financial goalsB. assign job responsibilitiesC. formulate strategiesD. establish production parametersE. establish detailed marketing tactics
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