Which of the following is typically NOT a result of recognizing the importance of ethnic groups by marketers?
Detailed Answer
Correct answer: (A)
Use of an undifferentiated one-size-fits-all marketing strategy
2
Strategic marketing planning establishes the---
Detailed Answer
Correct answer: (D)
Basis for any marketing strategy
3
These objectives are often the most suitable when firms operate in a market dominated by a major competitor and where their financial resources are limited
Detailed Answer
Correct answer: (A)
Niche
4
When companies make marketing decisions by considering consumers’ wants and the long-run interests of the company, consumer, and the general population, they are practicing which of the following principles?
Detailed Answer
Correct answer: (D)
Societal marketing
5
The use of price points for reference to different levels of quality for a company’s related products is typical of which product-mix pricing strategy?
Detailed Answer
Correct answer: (D)
Product line pricing
6
_____________ is the concept under which a company carefully integrates and coordinates its many communications channels to deliver a clear, consistent, and compelling message about the organization and its products.
The ______________ holds that consumers will favor products that are available and highly affordable (therefore, work on improving production and distribution efficiency).
Detailed Answer
Correct answer: (A)
Product concept
8
The term marketing refers to:
Detailed Answer
Correct answer: (C)
A philosophy that stresses customer value and satisfaction
9
The term "marketing mix" describes:
Detailed Answer
Correct answer: (C)
A blending of four strategic elements to satisfy specific target markets
10
When looking at consumer income, marketers are most interested in
