Creating sound marketing strategy

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Reference no: EM132163025

1. What are the three high-level decisions to consider when creating a sound marketing strategy?

A. Target segments, competitive advantages, and singularity

B. Value, costs, and pricing

C. Distribution, financing, and operations

D. Budgeting, forecasting, and production

E. Pricing, placement, and promotion

2. Apple has been a market leader in the technology industry for more than 40 years. Apple was initially known for its expertise in the personal computer market. In 2007, when Apple decided to enter the mobile phone market, this was an example of:

A. Product penetration

B. Product development

C. Market development

D. Market penetration

E. Diversification

3. Snapchat is a unique mobile application that allows users to send pictures and videos that disappear after a short viewing period. After several years it has been modified to meet customer ideal value. This product appeals to a large population and seemingly has zero direct competitors. Which of the following best describes Snapchat’s marketing strategy?

A. Differentiation

B. Singularity

C. Market development

D. Diversification

E. Product development

4. Customer relationship management (CRM), as described in Chapter 2 of our textbook, typically involves:

A. Focused research identifying meaningful differences across customer segments.

B. Focused research to pretest marketing tactics across customer segments.

C. Focused research on customer responses to the marketing mix.

D. Data collection related to specific accounts or customers that serve to tailor product offerings toward the “right” customer segments.

E. Data collection related to the quality of customer service.

Reference no: EM132163025

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