unit 4.1

A product with high market share in a high growth market is a "cash cow"

• true

• false

What are the advantages of product orientation

• quality

• low price

• lack of competition

• follow a trend

What are the four categories of the Boston Consulting Group (BCG) matrix?

• cash cow, bone/dog, question mark/problem child and star

• product, price, promotion and place

• people, physical evidence and processes

• market share and market growth

What are the four categories of the Boston Consulting Group (BCG) matrix?

• cash cow, bone, question mark and star

• product, price, promotion and place

• people, physical evidence and processes

• market share and market growth

Define Product Orientation

• It is when the company put the needs and wants above everything else.

• It's when they prioritize the research and development of high-quality products.

• It's a tool that helps businesses that have multiple products to decide on their marketing strategies.

• It's a measure the value of a single company's sales revenue compared with the sales of all business amounts.

According to the BCG matrix, in what category does Netflix fall?

• dog / bone

• star

• problem child / question mark

• cash cow

Which of the following options is not an advantage of product orientation companies

• monopoly power

• low risk

• lack of competition

• USP and high quality

A company that is product-oriented focuses on meeting customer needs and preferences above all else

• true

• false

The primary goal of marketing is to help businesses attract and retain customers by promoting products or services effectively

• true

• false

What is the purpose of knowing the market share of a company?

• Because it is a key indicator of market competitiveness, and of market growth or decline

• It allows a business to set targets and design marketing strategies to improve sales

• Helps finding what your customers want, making it improve your products and services

• all of the above