First quiz

Question 1

What are the elements of the Marketing System (independent controllable / uncontrollable
variables and dependent variables)?

Answer 1

Marketing mix(4p’s)
Behavioral response
Situational factors
Performance measures

Question 2

What is the DMP and which types of Marketing Research apply to which stages of this process?

Answer 2

Data Mining Process
Market Segmentation
Product Testing
Advertising Testing
Satisfaction and Loyalty Analysis
Brand Awareness and Reach
Pricing Research

Question 3

What is the overall objective of marketing and its two main sources?

Answer 3

To achieve a Sustainable Competitive Advantage

Differentiation and Cost Leadership

Question 4

How do we define a market and what do we thereby identify and how do we define segments?

Answer 4

By its use function

Features and benefits depending in values and lifestyles.

Question 5

What are the five forces of threat that determine the state of rivalry in a market?

Answer 5

Suppliers
Substitutes
Buyers
New entrants
Competition

Question 6

What are the five primary activities and four support functions of the Value Chain?

Answer 6

Inbound logistics
Production
Outbound logistics
Marketing & Sales
Service

Human Resources
Technology
Infrastructure
Procurement

Question 7

What are the Product Strategies – i.e. what are the four emphases depending on the three desired
earnings flow (immediate, steady, or future)?

Answer 7

Cost reduction
Product development
Line development
New products

Question 8

Do you know about Product Management? – PLC-curve, Diffusion Process, etc. (e.g. Gatekeeper,
Opinion leader – when people have total control over buying action, and then strong influence)?

Answer 8

Product Life Cycle curve

Question 9

What are the five elements of the Communications Mix (the Promotion “P”)?

Answer 9

Advertising
Sales promotion
Personal selling
Publicity
Public relations

Question 10

What are the four goals of Promotion? (For you own information you should want to know the
psychological cognitive want- definitions of these goals as well.)

Answer 10

Attract
Increase
Convert
Retain

Question 11

What are some various Pricing Strategies? (Factors and Objectives should be for your own
information and competence - but will not be asked))

Answer 11

Product bundle pricing
Market penetration pricing
Product line pricing
Optional product pricing
Captive product pricing
By product pricing
Market skimming pricing

Question 12

What are the four Channels of Distribution (of the Placement “P”)?

Answer 12

Direct face to face selling
Direct marketing
Middlemen
Owned outlets