Basic Marketing Practice

Selecting which segments of a population to serve is called ________.

• positioning

• market segmentation

• differentiation

• target marketing

Mr Sekaran now has the buying power to purchase the desktop computer that he has wanted for the last six months. Sekaran's want now has become a(n)

• demand

• necessity

• exchange

• need

In a SWOT analysis, ________ include favorable trends in the external environment

• threats

• opportunity

• strength

• bonus

_______ refers to activities that communicate the merits of the product and persuade target customers to buy it.

• promotion

• position

• prospecting

• segmentation

A mission statement serves as a ________

• statement of the organization's purpose

•  reward plan for the organization's highly skilled employees

• statement of the organization's current liabilities

• statement of the organization's net profits

Marketers use mobile channels for several purposes. Which of the following is LEAST likely to be one of those purposes?

• Enrich the brand experience.

• Stimulate immediate buying

• Make shopping easier

• Send billing statement

When demand for athletic shoes produced by Nike and endorsed by Michael Jordan is high, Nike limits how many pairs of shoes are manufactured. This action maintains strong demand by limiting supply. This decision contradicts the philosophy of which marketing concept?

• societal marketing concept

• production concept

• marketing concept

• selling concept

Marketing is defined as a social and managerial process by which individuals and organizations obtain what they need and want through _______.

• value creation and exchange

• innovation and creativity

• sales and revenue creation

• research and development

Mission statements should ________ and be defined in terms of ________.

• be market oriented; satisfying basic customer needs

• embody the company's short-term plans; current opportunities

• be technology oriented; meeting the self-actualization needs of customers

• address sales and profits; the net return on investments

Companies may want to downsize their business portfolios for all but which of the following reasons?

• The products might simply age.

• The customers may have purchased all they need

• The firm may have entered areas where it lacks experience

• The market environment might change