If Erin Farm Insurance saw a sudden increase in the number of farmers seeking flood insurance in Ireland due to major floods in Britain, the floods would be presenting the company with a marketing: A)opportunity B)strategy C)concept D)mix E)target

If Erin Farm Insurance saw a sudden increase in the number of farmers seeking flood  insurance in Ireland due to major floods in Britain, the floods would be presenting the  company with a marketing:
A)opportunity
B)strategy
C)concept
D)mix
E)target
by

1 Answer

Answer :

A)opportunity
by

Related questions

Capri is a brand of cigarette that is low tar and slim in design to appeal to women. In this instance, women comprise Capri's: A)marketing mix B)target market C)target audience D)marketing strategy E)marketing opportunity

Description : Capri is a brand of cigarette that is low tar and slim in design to appeal to women. In this instance, women comprise Capri's: A)marketing mix B)target market C)target audience D)marketing strategy E)marketing opportunity

Last Answer : B)target market

Smith's Fine Foods is involved in selecting and analysing a target market and developing a marketing mix to gain long -run competitive advantages. Based on this example, Smith's is creating a A)corporate strategy. B)target design. C)mix strategy. D)marketing strategy. E)marketing tactic.

Description : Smith's Fine Foods is involved in selecting and analysing a target market and developing a marketing mix to gain long -run competitive advantages. Based on this example, Smith's is creating a A)corporate strategy. B)target design. C)mix strategy. D)marketing strategy. E)marketing tactic.

Last Answer : D)marketing strategy.

All elements of the marketing mix are influenced by physical distribution functions. For this reason, it is important for marketers to remember that A)physical distribution decisions must be made prior to any other marketing strategy consideration. B)physical distribution costs often rise as customer service requirements decrease. C)over 75 percent of all marketing costs are associated with physical distribution expenditures. D)no single distribution system is ideal for all situations and target markets.

Description : All elements of the marketing mix are influenced by physical distribution functions. For this reason, it is important for marketers to remember that A)physical distribution decisions must be made ... expenditures. D)no single distribution system is ideal for all situations and target markets.

Last Answer : D)no single distribution system is ideal for all situations and target markets.

The two steps of developing a marketing strategy include selecting and analysing a target market and: A)selecting a group of persons towards which the firm should direct its marketing efforts. B)developing marketing objectives to meet organisation goals C)deciding how to organise the marketing department to meet customer needs. D)developing a marketing mix that precisely meets the needs of individuals in the target market.

Description : The two steps of developing a marketing strategy include selecting and analysing a target market and: A)selecting a group of persons towards which the firm should direct its marketing efforts. B) ... D)developing a marketing mix that precisely meets the needs of individuals in the target market.

Last Answer : D)developing a marketing mix that precisely meets the needs of individuals in the target market.

he two components of a marketing strategy are: A)marketing objectives and promotion B)marketing mix and marketing objectives C)target market and marketing mix D)target markets and promotions

Description : he two components of a marketing strategy are: A)marketing objectives and promotion B)marketing mix and marketing objectives C)target market and marketing mix D)target markets and promotions

Last Answer : C)target market and marketing mix

Most specifically, marketing strategy: A)is concerned with key decisions required to reach an objective VU Cafeteria B)encompasses selecting and analysing a target market and creating and maintaining an appropriate marketing mix C)expands geographic boundaries of markets to serve larger geographic areas D)involves determining the direction and objectives of marketing management

Description : Most specifically, marketing strategy: A)is concerned with key decisions required to reach an objective VU Cafeteria B)encompasses selecting and analysing a target market and creating ... to serve larger geographic areas D)involves determining the direction and objectives of marketing management

Last Answer : B)encompasses selecting and analysing a target market and creating and maintaining an appropriate marketing mix

A change in the minimum drinking age in the United Kingdom presents a change in which of the following for Bass Brewery? A)Marketing mix B)Marketing environment C)Marketing concept D)Marketing task E)Product strategy

Description : A change in the minimum drinking age in the United Kingdom presents a change in which of the following for Bass Brewery? A)Marketing mix B)Marketing environment C)Marketing concept D)Marketing task E)Product strategy

Last Answer : B)Marketing environment

Kelly is a marketing manager for a large consumer foods company. She is studying distribution, promotion, and price of the company's product. Kelly is studying the company's A)marketing strategy B)marketing mix C)market offering D)product offering E)marketing plan

Description : Kelly is a marketing manager for a large consumer foods company. She is studying distribution, promotion, and price of the company's product. Kelly is studying the company's A)marketing strategy B)marketing mix C)market offering D)product offering E)marketing plan

Last Answer : B)marketing mix

Realising that consumers have begun to seek safer cars, car makers are promoting air - bags to capitalise on this __________ while the strategic window is open. A)marketing mix B)market opportunity C)objective D)requirement E)need

Description : Realising that consumers have begun to seek safer cars, car makers are promoting air-bags to capitalise on this __________ while the strategic window is open. A)marketing mix B)market opportunity C)objective D)requirement E)need

Last Answer : B)market opportunity

What factors should guide a company's planning efforts? A)A company's budget and overall objectives B)An analysis of target markets and the company's marketing mix C)A company's budget and overall mission D)A company's marketing mix and overall mission E)A company's mission and overall organisational goals

Description : What factors should guide a company's planning efforts? A)A company's budget and overall objectives B)An analysis of target markets and the company's marketing mix C)A company's budget and ... D)A company's marketing mix and overall mission E)A company's mission and overall organisational goals

Last Answer : E)A company's mission and overall organisational goals

The most widely used method for analysing the performance of a marketing strategy is A)cost analysis. B)sales analysis. C)distribution analysis. D)promotional analysis. E)target market analysis

Description : The most widely used method for analysing the performance of a marketing strategy isA)cost analysis. B)sales analysis. C)distribution analysis. D)promotional analysis. E)target market analysis

Last Answer : B)sales analysis.

A firm should develop a marketing plan A)for each strategic business unit. B)for each different marketing strategy. C)for each different target market. D)for each good or service. E)once a month.

Description : A firm should develop a marketing plan A)for each strategic business unit. B)for each different marketing strategy. C)for each different target market. D)for each good or service. E)once a month.

Last Answer : B)for each different marketing strategy.

If RCA Records saw all compact disc customers as pretty much alike and thus offered only one marketing mix, it would be using the _________ approach: A)heterogeneous B)undifferentiated C)segmented D)differentiated E)concentrated

Description : If RCA Records saw all compact disc customers as pretty much alike and thus offered only one marketing mix, it would be using the _________ approach: A)heterogeneous B)undifferentiated C)segmented D)differentiated E)concentrated

Last Answer : B)undifferentiated

The term "marketing mix" describes: A. A composite analysis of all environmental factors inside and outside the fir B. A series of business decisions that aid in selling a product C. The relationship between a firm's marketing strengths and its business weaknesses D. A blending of four strategic elements to satisfy specific target markets

Description : The term "marketing mix" describes: A. A composite analysis of all environmental factors inside and outside the fir B. A series of business decisions that aid in selling a product ... strengths and its business weaknesses D. A blending of four strategic elements to satisfy specific target markets

Last Answer : D. A blending of four strategic elements to satisfy specific target markets

What is the marketing objective of nonbusiness organisations? A)To provide an idea or service to the public B)To obtain a desired response from a target market or public C)To obtain a return on social investment D)To determine the target market and to create and maintain a satisfying marketing mix

Description : What is the marketing objective of nonbusiness organisations? A)To provide an idea or service to the public B)To obtain a desired response from a target market or public C)To obtain a return on social investment D)To determine the target market and to create and maintain a satisfying marketing mix

Last Answer : B)To obtain a desired response from a target market or public

In testing her firm's new TV ads for Batman action figures, Beth discovers the ads make children think the action figures can actually fly. Beth now faces an ethical decision regarding which element of the marketing mix? A)Product B)Price C)Distribution D)Promotion E)Strategy

Description : In testing her firm's new TV ads for Batman action figures, Beth discovers the ads make children think the action figures can actually fly. Beth now faces an ethical decision regarding which element of the marketing mix? A)Product B)Price C)Distribution D)Promotion E)Strategy

Last Answer : D)Promotion

A phase out approach can be best described as : A)allowing the product to decline without a change in the marketing strategy B)exploiting any strengths left in the product C)immediately dropping the product from the product mix D)intensifying marketing efforts in core markets

Description : A phase out approach can be best described as : A)allowing the product to decline without a change in the marketing strategy B)exploiting any strengths left in the product C)immediately dropping the product from the product mix D)intensifying marketing efforts in core markets

Last Answer : A)allowing the product to decline without a change in the marketing strategy

A primary advantage of the concentration targeting strategy is that: A)it requires less market research and information B)it requires less intensive analysis of customers needs C)it maintains the firm's flexibility in moving into other market segments D)it permits development of a special marketing mix for a single market segment

Description : A primary advantage of the concentration targeting strategy is that: A)it requires less market research and information B)it requires less intensive analysis of customers needs C)it maintains the ... market segments D)it permits development of a special marketing mix for a single market segment

Last Answer : D)it permits development of a special marketing mix for a single market segment

Firms that truly adopt the marketing concept develop a distinct organisational culture based on a shared set of beliefs that make __________ the pivotal point of the firm's decisions about strategy and operations. A)beating competitors B)increasing market share C)customers' needs D)marketing implementation E)marketing control

Description : Firms that truly adopt the marketing concept develop a distinct organisational culture based on a shared set of beliefs that make __________ the pivotal point of the firm's decisions ... beating competitors B)increasing market share C)customers' needs D)marketing implementation E)marketing control

Last Answer : C)customers' needs

A __________ is something that an organisation does extremely well--sometimes so well that it gives a company an advantage over its competition. A)competitive advantage B)sustainable competitive advantage C)distinctive competency D)strategic vision E)marketing opportunity

Description : A __________ is something that an organisation does extremely well--sometimes so well that it gives a company an advantage over its competition. A)competitive advantage B)sustainable competitive advantage C)distinctive competency D)strategic vision E)marketing opportunity

Last Answer : C)distinctive competency

When the right combination of circumstances occurs at the right time to allow an organisation to take action toward a target market, the firm has identified a A)market objective. B)market requirement. C)strategic market plan. D)market opportunity. E)corporate objective.

Description : When the right combination of circumstances occurs at the right time to allow an organisation to take action toward a target market, the firm has identified a A)market objective. B)market requirement. C)strategic market plan. D)market opportunity. E)corporate objective.

Last Answer : D)market opportunity.

The two components of a marketing strategy are 1. Marketing objectives and promotion 2. Marketing mix and marketing objectives 3. Target market and marketing mix 4. Target markets and promotions 5. None of these

Description : The two components of a marketing strategy are 1. Marketing objectives and promotion 2. Marketing mix and marketing objectives 3. Target market and marketing mix 4. Target markets and promotions 5. None of these

Last Answer : Target market and marketing mix

Most specifically, marketing strategy : 1. Is concerned with key dicissions requried to reach an objective 2. Encompasses selecting and analysing a target market and creating and maintaining an appropriate marketing mix 3. expands geographic boundaries of markets to serve larger geographic areas 4. Involves determining the direction and objectives of marketing management 5. None of these

Description : Most specifically, marketing strategy : 1. Is concerned with key dicissions requried to reach an objective 2. Encompasses selecting and analysing a target market and creating and maintaining an ... 4. Involves determining the direction and objectives of marketing management 5. None of these

Last Answer : Encompasses selecting and analysing a target market and creating and maintaining an appropriate marketing mix

20) If Burger King was to offer Whoppers at 99 pence to increase sales, it is altering the ______ element of the marketing mix. A)promotion B)price C)product D)place E)people

Description : 20) If Burger King was to offer Whoppers at 99 pence to increase sales, it is altering the ______ element of the marketing mix. A)promotion B)price C)product D)place E)people

Last Answer : B)price

Which of the following is the MAIN advantage of multivariable segmentation: A)provides more information about the individuals in each segment B)allows the company to develop a marketing mix that will satisfy customers in a segment more precisely C)allows the company to develop a larger number of segments D)allows more than one variable to be used to segment markets

Description : Which of the following is the MAIN advantage of multivariable segmentation: A)provides more information about the individuals in each segment B)allows the company to develop a marketing mix that will ... a larger number of segments D)allows more than one variable to be used to segment markets

Last Answer : B)allows the company to develop a marketing mix that will satisfy customers in a segment more precisely

__________ involves giving frontline employees the authority and responsibility to make marketing decisions without seeking the approval of a supervisor. A)Benchmarking B)Internal marketing C)Total quality management D)Empowerment

Description : __________ involves giving frontline employees the authority and responsibility to make marketing decisions without seeking the approval of a supervisor. A)Benchmarking B)Internal marketing C)Total quality management D)Empowerment

Last Answer : D)Empowerment

The major characteristic of own label brands is that A)only retailers initiate and own the brand. B)manufacturers are not identified on the product. C)producers become involved with the marketing mix. D)producers are identified on the product.

Description : The major characteristic of own label brands is that A)only retailers initiate and own the brand. B)manufacturers are not identified on the product. C)producers become involved with the marketing mix. D)producers are identified on the product.

Last Answer : B)manufacturers are not identified on the product

A cereal company advertises that its latest product can lower cholesterol even though the company cannot prove this claim. This situation involves an ethical issue related to which element of the marketing mix? A)product B)price C)promotion D)distribution

Description : A cereal company advertises that its latest product can lower cholesterol even though the company cannot prove this claim. This situation involves an ethical issue related to which element of the marketing mix? A)product B)price C)promotion D)distribution

Last Answer : C)promotion

The XKL company wants to adopt the marketing concept. To be consistent with this move, it should adopt which of the following philosophies? A)The customer is always right B)Making money is our business C)Sell, sell, sell D)Keep prices low E)Focus on today

Description : The XKL company wants to adopt the marketing concept. To be consistent with this move, it should adopt which of the following philosophies? A)The customer is always right B)Making money is our business C)Sell, sell, sell D)Keep prices low E)Focus on today

Last Answer : A)The customer is always right

Consequences that are commonly associated with the multisegment targeting strategy are: A)an increase in sales and a decrease in total marketing costs B)the use of excess production capacity and a decrease in total marketing costs C)an increase in sales and the use of excess production capacity D)a decrease in production costs and a decrease in total marketing costs

Description : Consequences that are commonly associated with the multisegment targeting strategy are: A)an increase in sales and a decrease in total marketing costs B)the use of excess production capacity ... excess production capacity D)a decrease in production costs and a decrease in total marketing costs

Last Answer : C)an increase in sales and the use of excess production capacity

The marketing concept is a philosophy that states that an organisation should try to satisfy customers' needs and at the same time: A)increase market share. B)increase sales. C)achieve the organisation's goals. D)always produce high E)quality products.

Description : The marketing concept is a philosophy that states that an organisation should try to satisfy customers' needs and at the same time: A)increase market share. B)increase sales. C)achieve the organisation's goals. D)always produce high E)quality products.

Last Answer : C)achieve the organisation's goals.

If Master Foods Ltd knows that its market share in Ireland has dropped 13 percent in the first quarter of the year but does not know what might have contributed to this decline, it is in which stage of the marketing research process? A)hypothesis development B)symptom identification C)problem identification D)data interpretation

Description : If Master Foods Ltd knows that its market share in Ireland has dropped 13 percent in the first quarter of the year but does not know what might have contributed to this ... research process? A)hypothesis development B)symptom identification C)problem identification D)data interpretation

Last Answer : C)problem identification

Which of the following is NOT one of the factors that interact to determine the ethical decision -making process in marketing? A) Relationships with superiors B) Laws and regulation s C) Opportunity D) Individual factors E) Relationships with coworkers

Description : Which of the following is NOT one of the factors that interact to determine the ethical decision-making process in marketing? A) Relationships with superiors B) Laws and regulations C) Opportunity D) Individual factors E) Relationships with coworkers

Last Answer : B) Laws and regulation s

In the thirty minutes Jane has before a meeting on the firm's new marketing plan, she would like to refresh her memory of essential aspects of the document. She should read which section of the document? A)Opportunity and threat analysis B)Environmental analysis C)Executive summary D)Situation analysis E)Marketing objectives

Description : In the thirty minutes Jane has before a meeting on the firm's new marketing plan, she would like to refresh her memory of essential aspects of the document. She should read ... A)Opportunity and threat analysis B)Environmental analysis C)Executive summary D)Situation analysis E)Marketing objectives

Last Answer : C)Executive summary

A marketing plan usually begins with a(n) A)executive summary. B)introduction to the company's marketing objectives. C)summary of current performance as compared with past performance. D)situation analysis. E)opportunity and threat analysis.

Description : A marketing plan usually begins with a(n) A)executive summary. B)introduction to the company's marketing objectives. C)summary of current performance as compared with past performance. D)situation analysis. E)opportunity and threat analysis.

Last Answer : A)executive summary.

The process of collecting information about the marketing environment is A)a market opportunity. B)a market resource. C)environmental scanning. D)a market requirement. E)development of the environment.

Description : The process of collecting information about the marketing environment is A)a market opportunity. B)a market resource. C)environmental scanning. D)a market requirement. E)development of the environment.

Last Answer : C)environmental scanning.

Which one of the following statements by a company chairman best reflects the marketing concept? A)We have organised our business to make certain that we satisfy customer needs. B)We believe that the marketing department must organise to sell what we produce. C)We try to produce only high quality, technically efficient products. D)We try to encourage company growth.

Description : Which one of the following statements by a company chairman best reflects the marketing concept? A)We have organised our business to make certain that we satisfy customer needs. B)We believe ... to produce only high quality, technically efficient products. D)We try to encourage company growth.

Last Answer : A)We have organised our business to make certain that we satisfy customer needs.

Soft Shave is a shaving cream aimed particularly at women. The activities and decisions involved an developing and maintaining the product concept in buyers minds is called: A)the promotion mix B)the product mix C)product positioning D)product promotion E)product development

Description : Soft Shave is a shaving cream aimed particularly at women. The activities and decisions involved an developing and maintaining the product concept in buyers minds is called: A)the promotion mix B)the product mix C)product positioning D)product promotion E)product development

Last Answer : C)product positioning

If Good Invest was to perceive that consumers within a particular group were becoming more conservative in their investing, and thus developed more products with lower risk, it would be: A)responding to the marketing environmentB)changing its target market C)developing a sales orientation D)changing its organisation structure E)responding to changes in technology

Description : If Good Invest was to perceive that consumers within a particular group were becoming more conservative in their investing, and thus developed more products with lower risk, it would be ... developing a sales orientation D)changing its organisation structure E)responding to changes in technology

Last Answer : A)responding to the marketing environment

A __________ is created when a company matches its distinctive competency to the opportunities it has discovered in the market. A)market opportunity B)market requirement C)competitive advantage D)strategic window E)competitive opportunity

Description : A __________ is created when a company matches its distinctive competency to the opportunities it has discovered in the market. A)market opportunity B)market requirement C)competitive advantage D)strategic window E)competitive opportunity

Last Answer : C)competitive advantage

Sandra, a new salesperson for Brenham Foods calls in an order for twice the amount of merchandise that Corner Market requested because she knows that it will increase her sales and will not be noticed by Corner Market. This relates to ------- as an influence in ethical decision making. A)opportunity B)exposure C)significant others D)peers E)external rewards

Description : Sandra, a new salesperson for Brenham Foods calls in an order for twice the amount of merchandise that Corner Market requested because she knows that it will increase her sales and will not ... in ethical decision making. A)opportunity B)exposure C)significant others D)peers E)external rewards

Last Answer : A)opportunity

A marketing unit can be organised according to functions, products, regions, and A)sales. B)target markets. C)competitive units. D)types of customer.

Description : A marketing unit can be organised according to functions, products, regions, and A)sales. B)target markets. C)competitive units. D)types of customer.

Last Answer : D)types of customer.

The first sign that a nonbusiness organisation has become aware that it is performing marketing activities is through ----- decisions: A)target -public B)distribution C)promotional D)price

Description : The first sign that a nonbusiness organisation has become aware that it is performing marketing activities is through ----- decisions: A)target -public B)distribution C)promotional D)price

Last Answer : C)promotional

The process of dividing a total market into market groups so that persons within each group have relatively similar product needs is called: A)segmenting B)differentiating C)target marketing D)concentrating

Description : The process of dividing a total market into market groups so that persons within each group have relatively similar product needs is called: A)segmenting B)differentiating C)target marketing D)concentrating

Last Answer : A)segmenting

Marketing efforts are specifically aimed at: A)distributing "something of value" to buyers and sellers. B)facilitating satisfying exchange relationships. C)developing new products for target markets. D)understanding buyer behaviour to meet buyer needs.

Description : Marketing efforts are specifically aimed at: A)distributing "something of value" to buyers and sellers. B)facilitating satisfying exchange relationships. C)developing new products for target markets. D)understanding buyer behaviour to meet buyer needs.

Last Answer : B)facilitating satisfying exchange relationships.

The three major considerations in assessing opportunities and resources are environmental scanning, evaluating market opportunities, and A)competitive scanning. B)environmental analysis. C)understanding the firm's capabilities. D)opportunity search.

Description : The three major considerations in assessing opportunities and resources are environmental scanning, evaluating market opportunities, and A)competitive scanning. B)environmental analysis. C)understanding the firm's capabilities. D)opportunity search.

Last Answer : C)understanding the firm's capabilities.

Which of the following approaches to the marketing mix in international markets is MOST consistent with globalisation? A)keep product and promotion the same B)adapt product only C)adapt promotion only D)adapt promotion and prive E)invent new products

Description : Which of the following approaches to the marketing mix in international markets is MOST consistent with globalisation? A)keep product and promotion the same B)adapt product only C)adapt promotion only D)adapt promotion and prive E)invent new products

Last Answer : A)keep product and promotion the same

A marketer of industrial cleaning equipment is creating a marketing mix to satisfy potential customers. As a business to business marketer which of the following is LEAST likely to be included in the company's marketing mix? A)Machine servicing B)A higher price for higher -quality products C)Technical advice about the product D)Credit extension E)Extensive television advertising

Description : A marketer of industrial cleaning equipment is creating a marketing mix to satisfy potential customers. As a business to business marketer which of the following is LEAST likely to be ... -quality products C)Technical advice about the product D)Credit extension E)Extensive television advertising

Last Answer : E)Extensive television advertising

In the absence of __________, pricing remains a flexible and convenient way to adjust the marketing mix. A) experience -curve effects B) strong price competition C) weak price competition D) government price control E) low -priced substitute products

Description : In the absence of __________, pricing remains a flexible and convenient way to adjust the marketing mix. A) experience -curve effects B) strong price competition C) weak price competition D) government price control E) low -priced substitute products

Last Answer : D) government price control

Price is a key element in the marketing mix because it relates directly to A)the size of the sales force. B)the speed of an exchange. C)quality controls. D)the generation of total revenue. E)brand image.

Description : Price is a key element in the marketing mix because it relates directly to A)the size of the sales force. B)the speed of an exchange. C)quality controls. D)the generation of total revenue. E)brand image.

Last Answer : D)the generation of total revenue.