MKT264 : Midterm Revision Exam

[CH1] When a human want is backed by buying power, it becomes a demand.

[CH1] The marketing concept takes an inside-out view that starts with the factory and focuses on existing products.

[CH1] Customer satisfaction is the difference between total customer perceived benefits and customer cost.

[CH1] In the customer relationship groups, 'True Friends' are customers who are highly loyal but show low potential profitability.

[CH1] Share of customer is the portion of a customer's purchasing that a company gets in its product categories.

[CH2] In the BCG growth-share matrix, Cash Cows are low-growth, high-share SBUs that produce cash the company uses to support other SBUs.

[CH2] Diversification is company growth by offering modified or new products to current market segments.

[CH2] The value delivery network is the series of internal company departments that design, produce, market, deliver and support the firm's products.

[CH2] Marketing control includes both operating control and strategic control.

[CH2] In a SWOT analysis, opportunities are the internal capabilities that may help a company reach its objectives.

[CH4] Information gathered specifically for the research problem a company is currently studying is called primary data.

[CH4] Exploratory research is used to test hypotheses about cause-and-effect relationships.

[CH4] Competitive marketing intelligence draws on publicly available information to give a company early insight into competitors' strategies so it can prepare quick responses.

[CH4] When a company sends trained observers to watch and interact with consumers in their natural environments, such as their homes or offices, it is conducting ethnographic research.

[CH4] Marketing analytics is the technology by which machines think and learn in a way that looks and feels human.

[CH1] A drill manufacturer focuses all its efforts on improving drill features, forgetting that customers really want the holes and the finished home projects. This mistake is called:

[CH1] Which marketing management orientation holds that a company's decisions should balance company profits, consumer wants and society's long-run interests?

[CH1] A mobile operator in Bahrain notices that one group of customers spends a lot each month but switches to whichever operator offers the best deal. In the customer relationship groups, these customers are:

[CH1] A perfume brand invites fans to film their own short ads for the brand, and the best videos are shown on the brand's digital billboards. This is an example of:

[CH1] In the five-step marketing process, which step comes directly after designing a customer value-driven marketing strategy?

[CH1] A supermarket chain adds more product categories so that families buy a larger portion of their monthly groceries from it instead of from other stores. The chain is trying to increase its:

[CH1] A customer pays BD 900 for a luxury watch and feels it is a bargain because its craftsmanship and status are worth far more to her than the price. She is judging the watch by its:

[CH1] Of the two key questions in marketing management, 'How can we best serve these customers?' is answered by the company's:

[CH2] A Bahraini juice company starts selling its existing juice range, without any changes, to hospitals and schools in Saudi Arabia, a segment it has never served. This growth strategy is:

[CH2] A bank offers cashback to its current cardholders to encourage them to use their existing credit cards more often. This growth strategy is:

[CH2] In the BCG growth-share matrix, low-share business units in high-growth markets that require a lot of cash just to hold their share are called:

[CH2] A company owns a small printing unit with a low share of a slow-growing market. It earns just enough cash to keep itself going but is not expected to become a large source of cash. In the BCG matrix this unit is a:

[CH2] In the strategic planning process, which step comes directly after setting company objectives and goals?

[CH2] A hotel in Manama finds that many of its front-desk staff lack the language skills needed to serve European tourists. In a SWOT analysis, this is a:

[CH2] A company spends BD 50,000 on a marketing campaign that produces a net return of BD 75,000. Using the course formula, its marketing ROI is:

[CH2] A furniture store lets customers pay over 12 months interest-free and gives a 10% discount on sofas. These decisions belong to which element of the marketing mix?

[CH2] After dividing the fitness market into groups, a gym evaluates each group's attractiveness and decides to serve only working women aged 25-40. This step is called:

[CH4] A retailer's insights team combines its transaction records with real-time social media monitoring and data from connected devices, producing huge and complex data sets. These data sets are known as:

[CH4] A restaurant chain tests two menu designs: randomly chosen matched branches get either menu A or menu B, and sales are compared across the two groups. This research approach is:

[CH4] A marketing team uses a tourism statistics report published last year by a government authority for its own purposes. For the team's study, this report is:

[CH4] A research agency publishes only the favourable part of a survey so that its client can advertise that its product is preferred by most Bahraini families. Which marketing research issue does this raise?

[CH4] In the marketing research process, which step comes directly after defining the problem and research objectives?

[CH4] A fitness-tracker company uses artificial intelligence and machine learning to automatically analyze thousands of customer posts on social media and forums to find product improvement ideas. This approach is:

[CH4] A cosmetics brand sets up an online panel of loyal customers who give the company feedback and insights on an ongoing basis. This primary data approach is:

[CH4] An online fashion retailer recommends outfits to each shopper using the order histories and style preferences stored in its own customer databases. This information comes from:

[CH1] Define marketing and explain the five steps of the marketing process for creating and capturing customer value.

[CH1] Using the dimensions of starting point, focus, means and ends, contrast the inside-out and outside-in philosophies of marketing management, naming the concept behind each.

[CH1] List and briefly explain the five major trends and forces that are changing the marketing landscape.

[CH2] Define strategic planning and explain its four steps, showing how corporate-level planning guides marketing planning.

[CH2] Explain the BCG growth-share matrix: its two dimensions, the four types of SBUs it defines, and the main problems with matrix approaches.

[CH2] List and explain the four growth strategies in the product/market expansion grid, giving an example of each, and explain what downsizing means.

[CH4] Define marketing research and outline the four steps of the marketing research process, including the three types of research objectives.

[CH4] Compare primary data and secondary data, and discuss the advantages and disadvantages of using secondary data.

[CH2] Using the BCG growth-share matrix, classify each of Dilmun Dates' four product lines and justify each classification from the case.

[CH2] Identify the growth strategy behind each of the two plans management has for the next three years, and explain your answer using the product/market expansion grid.

[CH1] Which marketing management orientation does the new CEO's announcement reflect? Explain the three considerations it balances, linking each to the case.

[CH4] Identify the three primary data research approaches the agency used, and link each to the details in the case.

[CH4] Classify the chamber of commerce report and the agency's findings as primary or secondary data, and evaluate one advantage and one disadvantage of relying on the report.

[CH2] Carry out a SWOT analysis for Qahwa Lane using only the facts in the case, stating whether each factor is internal or external.