MGT 8803 Marketing Exam V with verified solutions
Question :Marketing Strategy
Correct answer:Finding opportunities and developing
profitable strategies to capitalize on those opportunities:
Specifies a target market and related marketing mix.
Question :5 Cs of Marketing
Correct answer:Customer: buyers with needs the company aims to fulfill
Company: goods or services provider fulfilling customer need
Competitors: Orgs aiming to fulfill the same need as company
Collaborators: external entities that work with company to
create value
Context: Environment where company operates.
Laws, Economic conditions, Cultural Norms, tech factors
PESTEL Analysis
Question :PESTEL Analysis
Correct answer:Factors that make up the Marketing Context: -Political -Economic -Social -Technological -Environmental -Legal
Question :Target Market
Correct answer:similar group of customers to whom a
company wishes to appeal.
Unique market segment sought as customers.
Contrast with Mass Marketing.
Question :Marketing Mix
Correct answer:Controllable variables the company puts
together to satisfy the target market
- P's
Question :Customer Marketing Model
Correct answer:Awareness
Interest & Engagement Acquisition Customer Segmentation Customer Retention Support & Advocacy
Goal: Develop brand insistence from customer (i need tide)
Question :Personas
Correct answer:Depictions of the company's target audience.
Company may have multiple.
Demographic: Age, Gender, Marital Status, Education
Geographic: State, Population, Climate
Psychographic: Lifestyle, Values, Attitudes, Personality
Behavioral: Usage rates, Brand loyalty, Benefit sought
RFM: Recency, Frequency, Monetary
Question :Buyer Journey:
Correct answer:Loosening of status quo
Committing to change
Exploring possible solutions
Committing to a solution
