A. Corporate strategy
B. Business and marketing strategy
C. Corporate vision
D. Customer relationship management
3) Not acknowledging or responding to the threats and requirements of ___________ is the real danger. Even in markets assumed to be stable, innovation can quickly alter market space.
A. Disruptive innovation
B. Commodization of product designs
C. Creation of new market space
D. Fast changing markets
4) A PEST Analysis of the macro-environment includes a review of
A. Political, Economic, Social, Technological, and Legal issues
B. Product, Economic, Social, Technological, and Legal issues
C. Positioning, Economic, Strategy, Technological, and Loyalty issues
D. Product, Economy, Segmentation, Targeting, and Loyalty issues
5) ___________ offers a company the opportunity to focus its business on the requirements of one or more groups of buyers.
A. Corporate strategy
B. Strategic marketing
C. Market segmentation
D. Corporate responsiveness
6) A ___________ is described by characteristics of people including why they buy and their preferences for brands of products.
A. Customer relationship management system
B. Strategic marketing objective
C. Market segment
D. Corporate capability
7) The differences in buyers according to how they use products, the needs and preferences that the products satisfy and their consumption patterns create __________.
A. Market segments
B. One-size-fits-all
C. Audience management
D. Product differentiation
8) __________ include attitudes, brand awareness and brand preference.
A. Use situation variables
B. Buyers needs and preferences
C. Demographic variables
D. Purchase behavior
9) Whole Foods Market, Inc. provides products that appeal to middle class buyers who have strong value preferences for natural foods and are willing to pay premium prices for the products that are not often available from other grocery retailers. This group of people is Whole Foods’ ______.
A. Communications group
B. Brand centers
C. Mass market
D. Market target
10) __________ is the process of identifying and analyzing sub-groups of buyers in a product-market with similar response characteristics.
A. Market segmentation
B. One-size-fits-all
C. Audience management
D. Product differentiation
11) BMW’s __________ for the new Mini, as a life-style vehicle, included describing the care as quintessentially cool with its biggest selling point being its individualistic appeal.
A. Value requirements
B. Positioning strategy
C. Segmentation design
D. Market targeting
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