Question
1(2.5 points)
One of
the benefits of value-driven marketing is that attention to customer needs and
wants will likely result in
Question
1 options:
strong
connections among competing firms in the marketplace.
lower
prices.
increased
competition.
long-term
relationships.
Question
2(2.5 points)
Value-driven
firms constantly measure the __________ that customers perceive, compared to
the prices of their offerings.
Question
2 options:
relationships
merchandise
benefits
information
rebates
Question
3(2.5 points)
Your
roommate, a non-business major, sees you reading your marketing text. He or she
asks, “Why is marketing important?” You respond by saying all of the
following EXCEPT
Question
3 options:
Marketers
advise production on how much product to make.
Marketers
tell the logistics department when to ship products.
Marketers
engage customers and develop long-term relationships.
Marketers
identify opportunities to expand.
Marketers
are the most important profit center in any organization.
Question
4(2.5 points)
Whenever
Arnold calls his insurance agent, the agent tells Arnold about new types of
insurance available. The agent is pursuing a ________________ growth strategy.
Question
4 options:
market
development
diversification
product
proliferation
product
development
market
penetration
Question
5(2.5 points)
Fernando
was thrilled to find out that his company had just decided to invest a great
deal of money in the product he was managing. He knows that even with its
recent high rate of growth and the fact that it was dominating the market, he
would need more money to establish it firmly. Using the BCG portfolio analysis,
his product shares characteristics with other:
Question
5 options:
question
marks.
cash
cows.
stars.
dogs.
Question
6(2.5 points)
Introducing
new products or services to a market segment the company is not currently
serving is called:
Question
6 options:
market
penetration
product
development
market
development
product
proliferation
diversification
Question
7(2.5 points)
Quitman
sells his business language dictionary to college students throughout the
United States. He wants to sell the book to international students abroad.
Quitman wants to pursue a __________________ growth strategy.
Question
7 options:
product
development
diversification
market
development
product
proliferation
market penetration
Question
8(2.5 points)
Even
when big-box discount retailers enter a market, some small, local retailers
survive and prosper. These retailers have developed a _________________
generating long-term profitability.
Question
8 options:
successful
mission-goal statements
strategic
business simulation
sustainable
competitive advantage
market
segmentation sufficiency
Question
9(2.5 points)
Almost
every banker thinks his or her firm provides better service than their
competitors. If this is accurate, and customers recognize it, the bank creates
and delivers value through:
Question
9 options:
operational
excellence
product
excellence
customer
excellence
promotional
excellence
global
excellence
Question
10(2.5 points)
Which
of the following is not one of the four overarching strategies to
create and deliver value and to develop sustainable competitive advantages?
Question
10 options:
Locational
excellence
Product
excellence
Planning
excellence
Operational
excellence
Customer
excellence
Question
11(2.5 points)
Heather
has been assessing a number of her firm’s products using the Boston Consulting
Group approach to portfolio analysis. She has been trying to assess the
strength in a particular market and is looking at the sales of the product and
the overall market as well as the sales of competitors. Heather is working on
determining _________________.
Question
11 options:
cash
generation equivalents
relative
market share.
market
growth rate
statistical
census analysis
competitive
advantage
Question
12(2.5 points)
Using
the BCG portfolio analysis, dogs should be phased out unless:
Question
12 options:
the CEO
of the firm is a champion of the product.
additional
resources could convert the product into a star.
the
market might rebound.
it
complements or boosts the sales of another product.
Question
13(2.5 points)
Based
on the BCG portfolio analysis, products in low-growth markets that have
received heavy investments and now have excess resources to spin off are:
Question
13 options:
Valuers
cash
cows.
stars.
question
marks.
dogs.
Question
14(2.5 points)
To
determine how attractive a particular market is in using the BCG portfolio
analysis, __________________ is established as one axis.
Question
14 options:
market
growth rate
competitive
intensity
profit
potential
ideal
market distribution
relative
market share
Question
15(2.5 points)
Chet
has been known to say, “If you ever see me with anything other than a Coke
in my hand, check my pulse. I must be dead. ” When Chet is thirsty for a
soft drink, he obviously skips the _______________ stage of the consumer
decision process.
Question
15 options:
evoked
set determination
evaluation
of alternatives
all of
the above
prepurchase
evaluation
information
search
Question
16(2.5 points)
A
product category is in a high growth market. The product is also doing quite
well. This is an example of a what type of growth strategy?
Question
16 options:
Star
Question
mark/problem child
Cash
cow
Cash
generator
Question
17(2.5 points)
Advertisers
using magazine ads often put a logo and slogan at the bottome of the page. They
are most attempting to influence…
Question
17 options:
Selective
imagery
Selective
perception
Selective
distortion
Selective
retention
Question
18(2.5 points)
Consumers,
and especially younger are using things like Facebook, Youtube, text messaging,
etc. This macro-environmental issue can be best described as….
Question
18 options:
Cultural
Economic
Social
Demographic
Question
19(2.5 points)
Craig
sees his company’s quarterly sales and profits are significantly above
projections and says, “That’s great. Let’s keep doing what we are
doing.” Craig is suggesting they ignore the ____________ of the marketing
planning process.
Question
19 options:
define
the business mission.
evaluate
performance
situation
analysis
implement
marketing mix and resources.
identifying
and evaluating opportunities.
Question
20(2.5 points)
You are
deciding on a very expensive gift to buy your parents for the 50th anniversary.
You are likely going to use what type of decision rule?
Question
20 options:
Compensatory
Heuristic
Disjunctive
Planned
Question
21(2.5 points)
To have
an ethical business climate requires all employees to be dedicated to that goal
because:
Question
21 options:
customers
are only vaguely interested in a firm’s ethical standards.
employees
have to be taught ethical standards.
managers
rarely enforce values unless employees ask them to do so.
the
roots of ethical conflict often are competing values of individuals.
employees
do not have sufficient visionary scope to understand the ramifications of
unethical behavior.
Question
22(2.5 points)
During
research you uncover an unmet need in the marketplace. In terms of SWOT this is
a(an)
Question
22 options:
Weakness
Competitive
advantage
Strength
Opportunity
Question
23(2.5 points)
The
Nike swoosh is familar to people all over the world. This marketing strength
is….
Question
23 options:
Marketing
budget
Customer
loyalty
Brand
recognition
Product
quality
Question
24(2.5 points)
Hannah
knows about many different clothing brands. These various brands make up her…
Question
24 options:
Retrieval
set
Universal
set
Evoked
set
Brand
set
Question
25(2.5 points)
Jimmy
likes going to movies and sometimes takes 30 minutes to pick the movie. This is
an example of
Question
25 options:
extensive
problem solving
High
involvement decision making
Movies
are low involvment
Limited
problem solving
Question
26(2.5 points)
You are
a buyer for a clothing line. You decide to buy from a close friend even though
you know that a competitor’s line is better. This violates what ethics
category?
Question
26 options:
Fairness
and honesty
Communication
Conflict
of interest
Business
relationships
Previous
PageNext Page
Question
27(2.5 points)
You buy
an expensive watch to wear when you go out. What Maslow need are you likely
addressing?
Question
27 options:
Status
Self
actualization
Socialability
Esteem
Question
28(2.5 points)
All of
the below are examples of competitive advantage value creators except…
Question
28 options:
Operational
excellence
Locational
excellence
Communication
excellence
Product
excellence
Question
29(2.5 points)
Consumers
consider universal, retrieval, and evoked sets during the ______________ stage
of the consumer decision process.
Question
29 options:
situational
factor analysis
postpurchase
evaluation
information
search
need
recognition
evaluation
of alternatives
Question
30(2.5 points)
What is
the marketing mix?
Question
30 options:
Strategic
tools available to marketers
Ways to
promote customers
Mix of
available marketing resources
The set
of appropriate products and services
Question
31(2.5 points)
In a
modified rebuy situation, _________________ are likely to have an advantage in
acquiring the order.
Question
31 options:
consumers
current
vendors
gatekeepers
buying
centers
resellers
Question
32(2.5 points)
Most
B2B buying situations can be categorized as new buys, modified rebuys, and:
Question
32 options:
significant
others.
angular
dilemmas.
initiator-influenced
democratic decisions.
RFPs.
straight
rebuys.
Question
33(2.5 points)
Compared
to the B2C process, the information search and alternative evaluation steps in
the B2B process are:
Question
33 options:
less
focused on customer value creation.
more
formal and structured.
identical.
based
on derived supply analysis.
centrally
planned.
Question
34(2.5 points)
Firms
use a differentiated segmentation strategy, targeting several market segments
with a different offering each, because:
Question
34 options:
it is
easier than mass marketing.
it
helps to obtain a bigger share of the market.
it is
better than focusing on individual or small groups of potential customers.
most
market segments are too small to be profitable.
banks
are more willing to extend credit to companies with this strategic approach.
Question
35(2.5 points)
Marco
was assigned to help create a positioning strategy for the manufacturing firm
where he works by working on the salient attributes. He should consider:
Question
35 options:
the
safety record of the firm and its products.
what
the target marketing would consider the most important.
the
characteristics that help his firm win a state-wide award for excellence in
manufacturing.
the
ways the sales representatives have been positioning the firm against the
competitors.
the
features the engineers feel are most important for the quality of the product.
Question
36(2.5 points)
Almost
every political candidate uses a combination of red, white, and blue in their campaign
posters. They are trying to position themselves in voters’ minds using:
Question
36 options:
value.
symbols.
all of
the above.
the
competition.
salient
attributes.
Question
37(2.5 points)
Whose
perceptions are being measured in a perceptual map?
Question
37 options:
Consumers
Inventors
of the products or the current R&D team
The
strategic planners
A
company’s executive team
Competitors
Question
38(2.5 points)
MTV
uses __________ segmentation to target individuals interested in doing good
deeds, and in doing so, it helps add value without jeopardizing its financial
success.
Question
38 options:
altruistic
corporate
social responsibility
millennial
generation
lifestyle
socio-demographic
Question
39(2.5 points)
Marketers
often race into research studies to collect __________________ data because it
is designed to address their specific questions, while _____________ data
exist, be cheaper to access, and sufficiently address the marketer’s questions.
Question
39 options:
secondary;
primary
syndicated;
primary
structured;
unstructured
ratings;
unstructured
primary;
secondary
Question
40(2.5 points)
The
major advantage of primary research data is:
Question
40 options:
it can
be easily accessed through syndicated data bases.
it can
be tailored to meet the specific research needs.
it
takes less time to collect than secondary data.
it is
general enough to meet many different researchers’ needs.
all of
the above are advantages of primary research data.
