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Question
Identify and describe the stages of the generalized product life cycle. For each stage, specify the marketing objective a firm should attempt to achieve.
Answer
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An organization's foundation includes which of the following?A. core valuesB. business definitionC. goalsD. strategic levelsE. offerings
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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 strategic business unit levelA. works most directly with the organization's target customers.B. directs the overall strategy for the organization.C. is most likely to change substantially over time.D. provides more end-user analysis in order to design more customer-directed products.E. is the level at which managers set a more specific strategic direction for their businesses to exploit value-creating opportunities.
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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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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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Market segmentation refers toA. identifying small groups of customers with dissimilar needs.B. aggregating prospective buyers into groups and selecting only those whose needs cannot be met by competitors' products.C. aggregating prospective buyers into groups that have common needs and will respond similarly to a marketing action.D. aggregating different products into more reasonable product groupings to better serve consumers' needs.E. those characteristics of a product that make it superior to competitive substitutes.
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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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