Strategic Marketing
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miniquiz1.docx|
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MASY-1 GC 1230 Strategic Marketing Mini Quiz 1, Fall 2021 Student and Date: _______________________________________________________________________________________ Instructions : This quiz consists of a combination of multiple choice and short answer questions. Type your name and the date above. For each multiple-choice question, highlight (in color) the letter and response that you think best answers the question. Additionally, type the letter of the response that you are selecting on the line provided for each question. For each short answer question, type your answers in the space provided.
Be sure to read the questions carefully and to answer them completely. Good Luck!! Multiple Choice Questions: 8 points each 1) Bitly’s promise of “Short links, big results” (https://bitly.com/) is their ________. A) value proposition B) segmentation strategy C) market offering D) selling concept E) production concept
2) Skincare firm Dr. Bronner’s is revamping its mission statement and advertising strategy. The CMO stresses that the new mission statement should be market-oriented rather than product-oriented. Which of the following mission statements will best suit the company? __________ A) to create the best possible products and sell them at the best possible prices B) to sell hypoallergenic skincare products made only from the finest organic ingredients C) to give customers the skin they dream about by providing products suited to their needs D) to become a market leader in every skincare product category E) to increase our market share in the skincare segment and increase profit margins
3) Sinclair now has the buying power to purchase the coffee maker that he wanted to buy six months ago. Sinclair's want has most likely become a ________. A) need B) value C) demand D) market offering E) desire
4) Paper towel manufacturer Sparkle focuses on low labor costs and mass distribution to ensure the continuous availability of its products at reasonable prices. Sparkle most likely follows the ________. A) customer-driving marketing concept B) marketing concept C) societal marketing concept D) production concept E) selling concept
5) Coaches Choice is a newly emerging athletic equipment company. After extensive market research Coaches Choice divides its market into professional athletes; "hobbyists" or amateur league players; and people who use authentic equipment as part of their weekend sports activities. Each category has its own needs, traits, and marketing goals. In this scenario, Coaches Choice has engaged in market ________. A) development B) positioning C) diversification D) segmentation E) penetration
6) Adams Fairacre Farms is a chain of grocery stores in the Hudson Valley, NY which profitably appeals to families that value farm fresh meats and produce. The retailer's approach is most likely referred to as ________. A) mass distribution B) cost leadership C) consumer-generated marketing D) target marketing E) undifferentiated marketing
7) In a SWOT analysis, which of the following would be considered a weakness of a company? __________ A) an unfavorable economic climate that discourages consumption B) the exit of a competitor from the market C) obsolete equipment used by the company D) falling consumer interest in its products E) inflation that leads to higher prices of the company's products
8) Which of the following products would the audio company Wavelength classify as a cash cow in its BCG matrix? ___________ A) Cyan—a MP3 player that is designed for music lovers and has a very low market share in a market that is growing steadily B) Boosh—a home entertainment system that has a strong market share in a market that is likely to expand in the future C) Autosonic—a car audio system that has a high market share in a market that has been growing constantly D) Tabletview—an iPad that has a high market share in a market that is not expected to grow significantly E) Playtime—a CD player that has a very low market share in a market that is shrinking rapidly
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9) Which of the following best describes a marketing department with a functional organization? __________
A) A company creates large teams, or even whole divisions, to serve domestic and international markets.
B) Marketing managers are responsible for developing marketing strategies and plans for their specific markets or customers, and the company is organized around the needs of specific customer segments.
C) A product manager develops and implements a complete strategy and marketing program for a specific product or brand.
D) Sales and marketing people are assigned to specific countries, regions, and districts.
E) Different marketing activities are headed by specialists such as sales managers, advertising managers, marketing research managers, and customer service managers.
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Short Answer Questions
10) (Maximum of 9 points) Assume that you are a product manager for Rishi, a loose-leaf tea and botanicals company https://rishi-tea.com/ . Explain the term "value delivery network", and provide examples of probable Rishi value delivery network members.
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11) (Maximum of 10 points) Discuss the four Ps of the typical marketing mix, with examples. Some people consider that there should be more than four marketing mix elements: suggest two additional aspects that the marketing mix could include.
12) (Maximum of 9 points) Using suitable examples, briefly compare and contrast the concepts of needs, wants, and demands. Discuss how these concepts relate to marketing practices.
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MASY
-
1 GC 1230 Strategic Marketing Mini Quiz 1
,
Fall 20
2
1
Student
and Date
:
__________________________________________________
_____________________________________
Instructions
: This
quiz
consists of a combination of multiple choice and
short answer questions
. Type your
name and the date
above. For each
multiple
-
choice
question,
highlight
(in color)
the
letter and
response that
you think best answers the question.
Additionally, type the letter of the response that you are selecting on the
line provided for each question.
For each short answer question,
type
your answers
in the space
provided.
Be sure to read the questions carefully and to answer them completely.
Good Luck!!
Multiple Choice Questions
: 8 points each
1
)
Bitly
’
s
promise
of
“
Short
l
inks,
b
ig
r
esults
”
(
https://bitly.com/
)
is their ________.
A) value proposition
B) segmentation strategy
C) market offering
D) selling concept
E) production concept
2
)
Skin
ca
re
firm
Dr. Bronner
’
s
is revamping its mission statement and advertising strategy. The C
M
O
stresses that the new mission statement should be market
-
oriented rather than product
-
oriented. Which of
the following mission statements will best suit the company?
__________
A) to create the best possible products and sell them at the best possible prices
B) to sell hypoallergenic
skincare
products made only from the finest organic ingredients
C) to give customers the
skin
they dream about by providing produc
ts suited to their needs
D) to become a market leader in every
skincare
product category
E) to increase our market share in the
skincare
segment and increase profit margins
3
)
Sinclair
now has
the buying power to purchase the co
ffee maker
that he wanted to buy six months ago.
Sinclair
's want has most likely become a ________.
A) need
B) value
C) demand
D) market offering
E) desire
4
)
P
aper towel
manufacturer
Sparkle
focuses on low labor costs and mass distribution
to ensure the
continuous availability of its products at reasonable prices.
Sparkle
most likely follows the ________.
A) customer
-
driving marketing concept
B) marketing concept
C) societal marketing concept
D) production concept
E) selling concept
5
)
Coaches Choice
is a newly emerging
athletic
equipment
company. After extensive market research
Coac
hes Choice
divides its market into professional athletes
;
"hobbyists" or amateur
league
players
;
and
people who
use authentic equi
pment
as part of their
weekend sports activit
ies
. Each category has its own
needs, traits, and marketing goals. In this scenario,
Coaches Choice
has engaged in market ________.
A) development
B) positioning
C) diversificatio
n
D) segmentation
E) penetration
MASY-1 GC 1230 Strategic Marketing Mini Quiz 1, Fall 2021
Student and Date:
_______________________________________________________________________________________
Instructions: This quiz consists of a combination of multiple choice and short answer questions. Type your
name and the date above. For each multiple-choice question, highlight (in color) the letter and response that
you think best answers the question. Additionally, type the letter of the response that you are selecting on the
line provided for each question. For each short answer question, type your answers in the space provided.
Be sure to read the questions carefully and to answer them completely. Good Luck!!
Multiple Choice Questions: 8 points each
1) Bitly’s promise of “Short links, big results” (https://bitly.com/) is their ________.
A) value proposition
B) segmentation strategy
C) market offering
D) selling concept
E) production concept
2) Skincare firm Dr. Bronner’s is revamping its mission statement and advertising strategy. The CMO
stresses that the new mission statement should be market-oriented rather than product-oriented. Which of
the following mission statements will best suit the company? __________
A) to create the best possible products and sell them at the best possible prices
B) to sell hypoallergenic skincare products made only from the finest organic ingredients
C) to give customers the skin they dream about by providing products suited to their needs
D) to become a market leader in every skincare product category
E) to increase our market share in the skincare segment and increase profit margins
3) Sinclair now has the buying power to purchase the coffee maker that he wanted to buy six months ago.
Sinclair's want has most likely become a ________.
A) need
B) value
C) demand
D) market offering
E) desire
4) Paper towel manufacturer Sparkle focuses on low labor costs and mass distribution to ensure the
continuous availability of its products at reasonable prices. Sparkle most likely follows the ________.
A) customer-driving marketing concept
B) marketing concept
C) societal marketing concept
D) production concept
E) selling concept
5) Coaches Choice is a newly emerging athletic equipment company. After extensive market research
Coaches Choice divides its market into professional athletes; "hobbyists" or amateur league players; and
people who use authentic equipment as part of their weekend sports activities. Each category has its own
needs, traits, and marketing goals. In this scenario, Coaches Choice has engaged in market ________.
A) development
B) positioning
C) diversification
D) segmentation
E) penetration
