Mktg 445 Study guides, Class notes & Summaries

what is the goal of all businesses correct answers survival *we ensure this by being profitable *we make a profit by generating more revenue than costs incurred what is the goal of marketing correct answers to raise revenues, or at an even more basic level, market share market share correct answers is always expressed as a percentage and is used to monitor growth market share = (our sales in x product category) / (total industry sales in product category x) how do we raise market sh...

________ is defined as a contractual arrangement whereby one company makes a legally protected asset available to another company in exchange for some form of compensation. A. Foreign direct investment (FDI) B. Contract manufacturing C. Equity stake D. Joint venture E. Licensing correct answers E. Licensing One of the key advantages to licensing as a market-entry strategy is ____________________. A. the speed of diffusion of the new product or technology B. increased market sha...

______________________is a philosophy that values two-way communication between the company and the Customer. A. EDI B. CRM C. IT D. RTE E. MIS correct answers CRM A(n)____________ system allows a company's business units to submit orders, issue invoices, and conduct business electronically with other company units as well as outside companies. A. IT B. CRM C. EDI D. MIS E. RTE correct answers EDI Which is a private network that allows authorized company personnel or outsiders...

Global Market Entry Strategies correct answers Focusing on Exporting, Foreign Production, & Ownership Strategies Two Methods of Exporting correct answers Indirect Direct Indirect correct answers Reaching markets with the use of an intermediary located in the exporter's home country - Giving control to someone else - Transfer of ownership occurs in one's home marketplace before sold overseas Intermediary → Anyone in between producer & consumer Benefits - Leverage intermediary...

Which of the following is not a phase of the overarching marketing process? Understand the marketplace and consumer wants Engage customers, build profitable relationships, and create customer delight Correct!Sorry, you can't trick me. All of the possible answer choices are phases of the overarching marketing process. Construct an integrated marketing program that delivers superior value Capture value from customers to create profits and customer equity Design a customer value-driven marke...

P&G in Japan correct answers • 1972: first mover in Japan for disposable diapers, 80% market share • 1985: market share 8%, losing $40M/year • just replicated mktg strategy from the US and put it in Japan • Japanese moms weren't concerned about absorbency & sizes were too big for small Japanese homes • ignored cultural differences Starbucks Mexican dilemma correct answers • mexicans don't drink coffee even though they're the 5th largest coffee producer • consume 2 lbs/ye...

How do companies collect data on customers for their Consumer Relationship Marketing database? correct answers -GPS in cars, cellphones, credit card purchases, geofencing, web-browser data, ect. What type of data do companies collect on customers? correct answers -conversion rates, churn rates, same customer sales rates, shares of wallet, shares of heart (emotional bond), transaction information, customer contact, demographics Manufactures of fast moving consumer goods (FMCGs) normally sel...

Cosmopolitan segment correct answers younger, affluent consumers in metropolitan areas Why was P&G losing market share in Japan? correct answers -Mothers were very hands on -Absorbancy wasn't as important to them and they didn't have the space for large packages How can you avoid poor marketing and losing market share? correct answers Conducting better research and analysis when choosing a new market Are consumption patterns converging? correct answers Yes, but major differences stil...

Which of the following explains why the World Trade Organization (WTO) might be seen as a threat to individual national sovereignty? A. The WTO is known for creating protectionist policies. B. Membership in the WTO requires adopting laws and policies created "outside" the individual nation. C. The WTO is not concerned with the economic development of individual countries. D. The WTO makes all decisions by consensus of its members. E. The WTO encourages more control by individual m...

1. How do companies collect data on customers for their CRM database? correct answers -Statistical models to target customers needs -Design offerings (marketing mix) to influence behavior 2. What type of data do they collect? correct answers Conversion Rates (from inquires/lookers to buyers) Churn Rates Same customer sales rates Share of wallet (customers share of product/service category) Share of heart (customer's emotional bond with the company/bond) Transaction information--price p...