Ernest Cooke 2

Front 1

Why should a mission statement be market oriented instead of product or technology oriented?

Back 1

Products and technologies become outdated but basic market needs last forever. needs to please the customer

Front 2

Why should a mission statement be "motivating" instead of stated in terms of sales or profits?

Back 2

Profit is a reward for creating customer value, thus the mission statement should focus on motivating customer experience and creating value for the customer.

Front 3

According to the product/market expansion grid (Ansoff’s matrix), what strategy is a company following when it attempts to increase sales of current products to current customers.

Back 3

Market Penetration. how do we grow the business

Front 4

How might Party Planning Paradise, a company that sells a wide range of party supplies for all occasions, implement a market development strategy?

Back 4

They could target a new market—they could attempt selling the same product to younger people (a new market)

Front 5

. According to the product/market expansion grid, what strategy would a fast-food hamburger restaurant follow if it offered a salad bar option during lunch hours?

Back 5

Product development. Pre packaged salads. Cooke thinks quadrant 1.

Front 6

. In to what quadrant of the product/market expansion grid would a "new and improved" product fall?

Back 6

First Quadrant

Front 7

What is the biggest problem in discussing Ansoff’s matrix?

Back 7

It is difficult to determine what makes a product or market “new”

Front 8

What are the reasons we do marketing research?

Back 8

To reduce uncertainty in decision making. measure markekt size. analysize sales. forecast sales. anaylize customer customer demographics. anaylize competitiors market activities

Front 9

What are the three types of surveys?

Back 9

Mail/email/internet, telephone and face-to-face

Front 10

Most marketing research ends with what step?

Back 10

informal investigation. the third step

Front 11

What are the four steps in the marketing research process?
Which one is the most important?

Back 11

Definition of the problem, secondary data sesearch, informal investigation and formal research.
Definition of the problem

Front 12

List the three methods of collecting primary data

Back 12

observations, experiments and surveys

Front 13

How much of the cost of packaged consumer goods is distribution

Back 13

more than fifty percent

Front 14

What are two other names for distribution?

Back 14

place and placement

Front 15

What are the two sub-parts to distribution?

Back 15

Physical distribution and channel of distribution

Front 16

What is included in physical distribution?

Back 16

Packaging, delivery and storage

Front 17

What model of buyer behavior is favored by your instructor?

Back 17

2-step process that is a combined decision making and learning process (learning is done as you repeat decision making)

Front 18

What model of buyer behavior is favored by the book?

Back 18

Decision-making and learning being entirely separate processes

Front 19

What is Buyer Behavior a function of?

Back 19

The market and product

Front 20

Why might demographic segmentation be the most common type of segmentation?

Back 20

It is the easiest form of segmentation

Front 21

Why might a marketer of laundry detergent be interested in viewing a perceptual positioning map?

Back 21

In order to find a hole in the map that they can fill with their product

Front 22

. Briefly relate positioning for competitive advantage and the unique selling proposition.

Back 22

Looking at a perceptual positioning map, you can find a hole and then identify what will fill that hole. You then develop a marketing mix that does the things that fill the hole, and claim that your product is best for filling that hole

Front 23

. Which is easier to implement, market segmentation or product segmentation?

Back 23

market segmentation