Marketing Midterm Essay

550 Words3 Pages
1) Acme, Inc., has slightly modified the production processes of its widgets and gadgets in order to tap into the Eastern European market. Acme is likely following a ________ strategy. A) market penetration B) market development C) diversification D) harvesting E) product development 2) Which of the following most accurately identifies a difference between a weakness and a threat in SWOT analysis? A) A company is more able to change a threat than a weakness. B) A company is more able to change a weakness than a threat. C) A company can be more negatively affected by a weakness than by a threat. D) A company can be more negatively affected by a threat than by a weakness. E) A company can more easily identify threats than weaknesses. 3) The higher the rate of customer retention, the longer the average customer life expectancy and the greater the customer lifetime value. a. Yes b. No 4) What is the following an example of? "To busy, mobile professionals who need to always be in the loop, BlackBerry is a wireless connectivity solution that gives you an easier, more reliable way to stay connected to data, people, and resources while on the go." A) positioning statement B) service differentiation C) concentrated segmentation D) competitive advantage E) responsible target marketing 5) Vans has an extremely loyal customer base even though it only has 1-2% of the overall athletic shoe market. This is an example of: A) Segment marketing B) Niche marketing C) Mass marketing D) Micro marketing E) Mass customization 6) Ryan's friends consider him an expert on electronic products. Ryan purchased quick read, one of the first electronic books launched by EasyTech Inc. years before any of his friends did. Ryan paid four times more for this product than they did. He wanted the benefits of an electronic book and was not concerned that his

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