MKT304 - Chapter 2

According to the marketing and promotions process model, the marketing process begins with the

• development of the marketing mix.

  
  

• development of a marketing strategy and analysis.

• development of the promotional mix.

• determination of the target market.

  
  

"Thirteen percent of all American males are shorter than 5'6". A retail store that sells exclusively to men of this size is using

• market aggregation.

• undifferentiated marketing.

  
  

• concentrated marketing.

  
  

• market atomization.

  
  

A(n) _____ is a document that evolves from an organization's overall corporate strategy and serves as a guide for specific marketing programs and policies.

• strategic marketing plan

  
  

• integrated marketing communications plan

  
  

• situation analysis

  
  

• opportunity analysis

  
  

_____ is a detailed assessment of the current marketing conditions facing the company, its product lines, or its individual brands.

• Strategic marketing plan

  
  

• Integrated marketing communications plan

  
  

• Situation analysis

  
  

• Opportunity analysis

  
  

 _____ is about building and maintaining a favorable identity and image of the company and/or its products or services in the mind of the consumer

• Positioning

  
  

• Repositioning

  
  

• Segmentation

  
  

• Targeting

  
  

_____ is a bundle of benefits or values that satisfies the needs of consumers.

• Product use positioning

  
  

• Market

  
  

• Product

  
  

• Value

  
  

Offering quality products that command a premium price, providing superior customer service, having the lowest production costs and lower prices etc. are ways of

• achieving competitive advantage.

  
  

• market segmentation.

• mass marketing.

  
  

• market opportunity.

_____ is something unique or special a firm possesses or does that gives it an edge over its competitors.

• Brand quality

  
  

• Brand equity

• A competitive advantage

  
  

• Brand power

  
  

Which of the following is a geographic variable for segmentation of the market?

• Family size

  
  

• Occasions

  
  

• Age

  
  

• Cities

  
  

Directing a company's efforts towards one or more groups of customers who share common needs is known as:

• target marketing.

• competitive advantage.

• positioning.

• market segmentation.