English Marketing Final Paper 6Section 1 Multiple Choices 75This section has 30 questions each worth 25 For each question you must choose ONLY one choice which you think best fits in Please trans

most successful companies are those that focus on ________.a. product developmentb. marketing effectivenessc. cost reductiond. innovatione. globalization7. Which of the following is NOT a component of the marketing mix?a. productb. pricec. promotiond. plae. packaging8. The process of evaluating each market segment’s attractiveness and selecting one or more segments to enter is called ________.a. market segmentationb. target marketingc. market positioningd. market selectione. market analysis9. A company’s marketing mix should be tailored to ________.a. the company’s overall missionb. the industry’s best practicesc. the size of the companyd. the specific target markete. the company’s budget10. A company’s value proposition is ________.a. the product’s price compared to the competitionb. the unique value that a product or service provides to its customersc. the company’s mission statementd. the target market’s demographics and psychographicse. the company’s advertising slogans11. The process of selecting one or more market segments to enter is called ________.a. market segmentationb. target marketingc. market positioningd. market selectione. market analysis12. ________ is the process of dividing a market into smaller groups with distinct needs, characteristics, or behaviors.a. Market segmentationb. Target marketingc. Market positioningd. Market selectione. Market analysis13. The process of developing and maintaining a strategic fit between the organization’s goals and capabilities and its changing marketing opportunities is called ________.a. market segmentationb. target marketingc. market positioningd. market selectione. strategic planning14. The stage of the product life cycle in which sales and profits start to decline is called the ________ stage.a. introductionb. growthc. maturityd. declinee. saturation15. A successful marketing strategy should focus on ________.a. the company’s strengths and weaknessesb. the competition’s strengths and weaknessesc. the target market’s demographics and psychographicsd. the company’s distribution channele. all of the above16. The marketing mix consists of ________.a. product, communication, distribution, and priceb. product, promotion, distribution, and placec. product, promotion, price, and plaid. product, promotion, distribution, and packaginge. product, promotion, price, and people17. The process of positioning a product or service in the minds of the target market is called ________.a. market segmentationb. target marketingc. market positioningd. market selectione. market analysis18. The stage of the product life cycle in which sales and profits start to increase rapidly is called the ________ stage.a. introductionb. growthc. maturityd. declinee. saturation19. A company’s SWOT analysis examines its ________.a. strengths, weaknesses, opportunities, and threatsb. sales, weaknesses, opportunities, and threats c. strengths, weaknesses, opportunities, and trends d. strengths, weaknesses, opportunities, and teamwork e. sales, weaknesses, opportunities, and teamwork20. A company’s marketing mix should be ________.a. static and unchangingb. flexible and adaptablec. focused exclusively on the productd. focused exclusively on the pricee. focused exclusively on the promotion21. The process of obtaining information about events and trends outside the organization to identify and interpret potential threats and opportunities is called ________.a. environmental analysisb. competitive intelligencec. market researchd. market segmentatione. target marketing22. The process of arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target customers is called ________.a. market segmentationb. target marketingc. market positioningd. market selectione. market analysis23. The stage of the product life cycle in which sales and profits reach their highest point is called the ________ stage.a. introductionb. growthc. maturityd. declinee. saturation24. The four Ps of the marketing mix are ________.a. product, promotion, price, and placeb. product, promotion, price, and plaidc. product, promotion, distribution, and place d. product, promotion, distribution, and packaginge. product, promotion, price, and people25. The process of dividing a market into smaller groups with similar needs or characteristics is called ________.a. market segmentationb. target marketingc. market positioningd. market selectione. market analysis26. A company’s sales forecast is an estimate of ________.a. the company’s sales based on previous year’s salesb. the company’s sales based on industry averagesc. the company’s sales based on market researchd. the company’s sales based on the economye. the company’s sales based on the competition27. The stage of the product life cycle in which the product is first introduced to the market is called the ________ stage.a. introductionb. growthc. maturityd. declinee. saturation28. The process of selecting which segments to serve and how to serve them is called ________.a. market segmentationb. target marketingc. market positioningd. market selectione. market analysis29. The set of benefits or values a company promises to deliver to customers to satisfy their needs is called ________.a. the marketing mixb. the value propositionc. the target marketd. the marketing plae. the marketing plan30. The process of defining a clear, distinctive, and desirable place in the minds of target customers relative to competing products is called ________.a. market segmentationb. target marketingc. market positioningd. market selectione. market analysisSection 2: Short Answers (25%)This section contains 5 questions, each worth 5%. Answer all five questions. Be sure to write your answers in complete sentences.

1. Define market segmentation and provide an example.

2. What is the difference between market segmentation and target marketing?

3. What are the four components of the marketing mix?

4. Define product life cycle and provide an example.

5. What is a SWOT analysis and why is it important in marketing