Module 1
Study Quiz
1. Marketing is: a) About invention of new markets, new products and new services b) About the invention of new ways of distributing and reaching customers c) About researching, finding, understanding and making new markets d) About creating and changing market processes that change markets e) All of the above 2. A responsibility of marketers is to sell new products and ideas to decision-makers in their organization. a) Yes b) No 3. The focus of companies needs to be on winning: a) The product innovation race b) The distribution innovation race c) Both a and b d) Either a or b e) None of the above 4. There are times when it helps for a marketing executive to support the status quo and to promote long established and
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a) True b) False Competition increases as: a) The number of small firms in the market increases. b) The number of consumers in a market increases. c) Demand exceeds supply. d) Supply exceeds demand Insatiable self-improvement is in the self-interest of ____ firms. a) all b) most c) rival d) monopolist Change management in marketing is most important in a firm’s: a) Product development management processes b) Customer relationship management processes c) Supply-chain management processes d) All of the above Below are six statements from the theory of market dynamics. Which of the following is the correct process sequence (order) according to the theory? a) 5-3-2-6-1-2 b) 6-4-1-5-3-2 c) 4-6-3-1-5-2 d) 3-6-5-3-4-1 e) 2-6-3-1-5-4 1. Supply will shift to serve the demand of the most profitable market segments. 2. Effective products and process are quickly imitated and improved. 3. Sellers learn directly and by observing other sellers how to add customer and shareholder value. 4. The variation in consumer demand is constantly changing. 5. Competition forces sellers to try new ways of serving customers and reducing costs. 6. The supply of products and processes is constantly changing.
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Study Quiz
1. On the Business Process Thinking Scale my average score (score for each question divided by 12 questions) was a) 1 b) 2 c) 3 d) 4 e) 5 On the Political Skill Scale my average score (score for each question
This business report aims to show how important a marketing plan is, demonstrate the key elements of a successful marketing plan and how a marketing plan helps a company to sell its products and service. This Marketing plan will use the company Aldi as a case study, (the supermarket chain) to demonstrate how a marketing plan works. Aldi is a major supermarket chain that provides highly competitive retail food products to households. As a retail company they face all the marketing problems that other retail company faces (product range, price and marketing segmentation).
This paper will introduce a product and service which operates in the U.S. with the intent to expand within foreign markets eventually. The service that I chose is a current service in the food service industry that does exist but would benefit from enhancing it; there are market trends for the new service that would definitely satisfy potential customers’ needs and wants once the idea is brought to their attention. The goal is to bring the feel of the city’s fine dining and lounging experience to areas outside the city without having to travel far or spend more. The service is an
Firms have developed ways to influence consumer demand which effect supply, one such technique is demarketing or the process of reducing consumer demand for a product to a level that the firm can reasonably supply.
Which of the following is not one of the variables used by customers to evaluate
* Building the right relationships with the right customers involves treating customers as assets that need to be managed and maximized
Any person who is absent will receive a mark of zero for this assessment and
4. _________ leads as the innovator and mass market trendsetter in reducing supply chain anddistribution costs.
Marketing is all about creating a really solid decision, which will lead to more money. In this paper I will give some history of my organization, and explain how each element of marketing affects the organization. In addition I will cover the industry in which the organization resides in.
Which of the following media options would MOST benefit Second Avenue 's promotional efforts given the store 's limited budget?
In order to develop the “right strategy” to succeed in business, managers must make the right decisions; and in order to make the right decisions, they must have objective, accurate, and timely : E. information about market trends and changes.
The article in which this assignment will cover three different aspects of marketing involves the National Football League known as the N.F.L. and a very popular holiday. Since the start of the fall season, many fans from all over the country tune in every week, mainly Sunday’s to watch their favorite football team play against other teams to obtain their ticket to the famous Super Bowl championship. For many, it’s a tradition that can be passed down to other generations which creates a constant and steady amount of growing fan base. Given that it’s a tradition for many to also spend Sunday afternoons together with family, so is Thanksgiving. Every year during Thanksgiving there is a football game going on, giving advertises the
Please enter your age in the space below (enter as a whole number). [IF<18, TERMINATE]
Marketing sector plays a vital role in a business or organisation. It is a sector that helps to inform and influence the society at large about the activities made by a business or organisation (Elliot, 2010). Working under the marketing sector would be challenging as it requires marketers to have competent attitudes and skilful (Elliot, 2010). Although there are several flaws can be identified to make marketing as a profession such as working long hours and working with an organisation that does not embrace the marketing concept (Klein, 2004), it is a profession that is meaningful to me.
This type of business plan involves adapting the firm to take advantage of opportunities in its constantly changing environment.
Since the beginning of mass production and the globalization of economic activity, marketing has continued to develop to an extent that it has gained a predominant role in the modern business environment. This is mainly because marketing helps the organization to establish a link with its customers since it's geared towards satisfying the needs and wants of both parties through the exchange process. In addition to being human activity, marketing basically involves various initiatives like product development, communication, research, promotion, and pricing. As a result of its predominant role in the modern business environment, the manager needs to gain thorough knowledge of marketing in order to conduct their functions in effective ways.