MKT261 : Midterm Revision Exam

[CH1] Needs are states of felt deprivation, while wants are the form human needs take as they are shaped by culture and individual personality.

[CH1] Demands are human needs that are shaped by culture and individual personality.

[CH1] The selling concept takes an outside-in view that starts with the market and focuses on customer needs.

[CH1] When a company adds up the lifetime values of all of its customers, the resulting total is known as customer equity.

[CH3] The microenvironment consists of the actors close to the company that affect its ability to serve its customers, such as suppliers, marketing intermediaries, competitors and publics.

[CH3] Engel's Law states that when a family's income goes up, the share of its spending that goes to food also goes up.

[CH3] Secondary beliefs and values are more open to change than core beliefs and values.

[CH3] The political environment is described as the most dramatic force now changing the marketplace.

[CH7] Market targeting is the process of evaluating each market segment's attractiveness and selecting one or more segments to enter.

[CH7] Intermarket segmentation forms segments of consumers who have similar needs and buying behavior even though they are located in different countries.

[CH7] Dividing a market into groups based on social class, lifestyle, or personality characteristics is called behavioral segmentation.

[CH8] Product attributes are the most desirable level for positioning a brand.

[CH8] Conformance quality refers to freedom from defects and consistency in delivering a targeted level of performance.

[CH8] Product mix width refers to the number of versions offered of each product in the line.

[CH8] A brand extension extends a current brand name to new or modified products in a new category.

[CH1] According to the course, marketing is best defined as a process by which companies:

[CH1] A drill manufacturer keeps improving the power of its drills, ignoring that customers really need clean holes in their walls. It then loses sales when a cheaper wall-mounting adhesive appears. This company is suffering from:

[CH1] A mobile operator in Bahrain estimates that a loyal subscriber spends BD 30 per month and stays for 10 years, so each such subscriber is worth BD 3,600 to the company. This figure represents the customer's:

[CH1] A Manama supermarket notices that its loyal shoppers buy groceries there but buy their meat and bakery items elsewhere. It launches offers to win those purchases too. The supermarket is trying to increase its:

[CH1] Which of the following is the course's definition of customer satisfaction?

[CH1] A local juice brand asks fans to film short videos of their own flavour ideas and shares the best fan-made videos on its official pages. This is an example of:

[CH3] All of the following are types of marketing intermediaries EXCEPT:

[CH3] A consumer protection group in Bahrain publicly criticizes a snack company for using too much sugar in children's products. For the snack company, this group is classified as:

[CH3] A Bahraini manufacturer sells classroom furniture to the Ministry of Education for use in public schools. This customer belongs to which type of customer market?

[CH3] During an economic slowdown, a clothing retailer redesigns its range to offer financially cautious shoppers the right combination of quality and service at a fair price. This approach is called:

[CH3] A group of private hospitals lobbies lawmakers and runs public campaigns to change a health regulation that limits its growth. Which view of responding to the marketing environment is it taking?

[CH3] Which of the following is NOT one of the natural environment trends identified in the course?

[CH7] Which sequence correctly shows the four major steps of designing a customer-driven marketing strategy?

[CH7] A fitness club designs different offers for non-users, first-time users, regular users and ex-users of gyms. Which segmentation base is it using?

[CH7] A bank designs separate account packages for young singles, married couples with children, and older couples whose children have left home. Which segmentation base is the bank using?

[CH7] A small perfume start-up identifies an attractive segment, but with its tiny team it cannot design and run a separate marketing program to serve that segment. Which requirement for effective segmentation is NOT met?

[CH7] A small bakery in Muharraq puts all of its limited resources into serving gluten-free customers, a group largely overlooked by the big supermarket chains. Which targeting strategy is this?

[CH7] A coffee chain changes its menu items and promotions for each neighborhood it operates in, and even for specific branches. This practice is best described as:

[CH7] When evaluating market segments, a company considers all of the following factors EXCEPT:

[CH8] A customer refuses any substitute for one particular luxury watch brand and travels to another country just to buy it. For this customer, the watch is a:

[CH8] A factory regularly buys lubricating oil, repair and maintenance items, and cleaning services to keep its operations running. These purchases are classified as:

[CH8] A dairy company decides to enter the pet food category. Because none of its current brand names suit pet food, it launches the products under a completely new name. This brand development choice is:

[CH8] A juice company adds a mango flavour and a new one-litre size under its existing juice brand name. This is an example of:

[CH8] A hotel group known for its five-star hotels adds a new budget hotel range below its current offering. This product line decision is called:

[CH8] A laptop buyer receives free delivery, free installation and a two-year warranty with her purchase. These extras belong to which product level?

[CH1] Compare the selling concept and the marketing concept in terms of their view, starting point, focus, means and ends.

[CH1] Define and explain the following core marketplace concepts: needs, wants, demands, market offerings, exchange and market. Also explain what is meant by marketing myopia.

[CH3] List and explain the six actors in a company's microenvironment.

[CH3] List and briefly explain the major forces in the company's macroenvironment, giving one trend for each.

[CH7] List and explain the five requirements for effective segmentation.

[CH7] Compare the four target market selection strategies, explaining each with an example, and list the factors a company should consider when choosing among them.

[CH8] Explain the three levels of product, using an example to illustrate each level.

[CH8] List and explain the four types of consumer products, giving an example of each.

[CH7] Identify the segmentation bases Fatima used to define her market, and name the target market strategy Sahha Kitchen has chosen. Justify your answer from the case.

[CH1] Which marketing management orientation best describes Fatima's approach? Explain the three considerations underlying this orientation and link each to the case.

[CH1] Calculate the customer lifetime value of an average Sahha Kitchen subscriber and the company's customer equity based on its current subscribers. Explain what each figure means for Fatima.

[CH8] Identify the brand development or brand sponsorship decision behind each of Al Noor's three planned moves, and explain one advantage of the third move.

[CH8] Using the case information, calculate Al Noor's product mix width and product mix length, and comment on the consistency of its product mix.

[CH3] Identify the microenvironment actors and the macroenvironment forces that are creating challenges for Al Noor Dairy. Link each one to the case.