Which of the following is informed by the overall business strategy?

Group of answer choices

The target market

The optimal marketing mix

They are both informed by the business strategy

Neither is informed by the business strategy

2)

Cruise lines often target their promotions at upper-middle aged empty nesters. Which of the following segmentation strategies would this reflect?

Group of answer choices

Behavioristic and demographic

Psychographic and demographic

Geographic and behavioristic

Geographic and psychographic

3)

Which of the following is NOT one of the four Ps of the Marketing Mix?

Group of answer choices

People

Product

Promotion

Place (distribution)

4)

The cluster of perceptions and attitudes potential customers have toward a product or offering is referred to as which of the following?

Group of answer choices

Customer perception

Value proposition

Brand

Goodwill

5)

Often Marketing Strategy depends on low price as an approach to market penetration. In such a case, product development may follow which of the following?

Group of answer choices

Benchmarking

Six Sigma

Outsourcing

Design-to-cost

6)

When different customers are charged different prices for reasons unrelated to cost (e.g., by the airlines), this is referred to as which of the following?

Group of answer choices

Cost plus pricing

Differential pricing

Benchmarking

Discounted pricing

7)

Which of the following distribution channels is DECLINING due to the introduction of e-commerce?

Group of answer choices

Producer to retailer

None of these

Producer to producer

Producer to customer

8)

Which of the following automakers has most significantly disrupted the traditional distribution channels?

Group of answer choices

General Motors

Toyota

Tesla

Fiat

9)

Over the past one hundred years, product promotion has changed in one particularly substantive way. Which of the following best reflects this change?

Group of answer choices

It has become more aspirational than informative

It has become more honest

It's moved from print to television

It features more diversity

10)

Which of the following is not one of the three parts of the Value Proposition?

Group of answer choices

What problem are we solving (and for whom)?

Why is our solution to the potential customer's problem superior to any other available?

How do we solve the potential customer's problem?

How profitable is the business?

11)

Determination of the Value Proposition necessarily begins with which of the following?

Group of answer choices

Determination of the unmet need

Identification of the target market

Proof

A solution

12)

Both the target market and any proposed solution must necessarily be informed by which of the following?

Group of answer choices

Past experience

Market size

Competitor solutions

Our unique abilities or attributes

13)

Growing cynicism on the part of potential customers has often led to the addition of which of the following to the Value Proposition?

Group of answer choices

Humor

Creativity

Proof

Clarity

14)

In the end, to be successful, a company must at least accomplish which of the following?

Group of answer choices

Motivate employees to excellence

Continuously seek efficiency

Identify and solve customer problems

Have a well-articulated business model