Download marketing_mangement__bam_511_unit_1-4_

Multiple Choice Questions (Enter your answers on
the enclosed answer sheet)
1)
includes all the actual and potential rival offerings and substitutes
that a buyer might consider.
A) Competition
B) A value proposition
C) The product offering
0) The marketing environment
E) The supply chain
2)The strength of the
depends on the mutually profitable business relationships built by the company and its supporting stakeholders.
A) sales network
B) supply chain network
C) holistic union
0) integrated network
E) marketing network
3) When Jack purchases his air-conditioning unit in the winter to avoid the high
prices found in the summer, he is exhibiting
demand.
A) impulse
B) irregular
C)negative
0) latent
E) declining
4) Julia hates smoking and is willing to pay an extra tax just to help eliminate
smoking in her city. She is exhibiting
with respect to smoking.
A) nonexistent demand
B) negative demand
C)unwholesome demand
0) declining demand
E) latent demand
5) If marketers are characterized as "gardening" rather than "hunting," the
___ is most likely to be the concept the marketers are following.
A) product concept
B) production concept
C) sell i ng concept
0) marketing concept
E) social responsibility concept
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Marketing Ma
ment
6) When 3M, HP, and Motorola
practice researching or imaging latent needs of
consumers through a "probe-and-Iearn" process, they are most likely using
which of the following marketing orientations with respect to their consumers?
A)
B)
C)
D)
E)
Proactive marketi ng orientation
Reactive market orientation
Promotion orientation
Supply-side orientation
Sell ing orientation
7) Kroger supermarkets are aggressively pursuing a strategy of capturing a larger
share of the customer's "stomach." Which of the following shifts in marketing
management is most appropriate for this example?
A) From a focus on gaining market share to a focus on building customer share.
B) From building brands through advertising to building brands through performance and integrated communications.
C) From marketing does the marketing to everyone does the marketing.
D) From focusing on profitable transactions to focusing on customer lifetime
value.
E) From relyi ng on old market positions to uncoveri ng new ones.
8) Another way to describe a value delivery network (partnering with specific suppliers and distributors) is to call it a ________ _
A) teamwork group
B) supply chain
C) domestic power center
D) link to relationships
E) cabal
9) Business realignment may be necessary to maximize core competencies.
Which of the following would be one of the steps in this realignment process?
A)
B)
C)
D)
E)
revamping the ethics statement
reviewing all macro relationships
redefining the business concept (the "big idea")
reviewing successes from e-commerce (if any)
reviewing global outreach projections
10)Harvard professor Ted Levitt argues that _____________ of a business are superior
to ____ _
A)
B)
C)
D)
E)
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marketing definitions; market definitions
market definitions; product definitions
product definitions; service definitions
service definitions; market definitions
none of the above
Marketing Management
11) During Jill's market research
study, many customers indicated
that traditional
oven mitts made it very difficult to hold cooking utensils, pots, and baking
dishes, resulting in frequent spills and burns. Jill brought her findings to
the research department, and her company leveraged its engineering and design competencies to develop a new hand-held hot-pad that allows for significantly greater dexterity in handling hot cooking implements, while protecting the cook from burns. This is an example of the
element of
the holistic marketing framework.
A)
B)
C)
D)
E)
value creation
value exploration
value delivery
value networking
value focus
12) Sony's former president, Akio Morita, wanted everyone to have access to
"personal portable sound," so his company created the Walkman and portable
CD player. This vision was reflected in the company's __________ _
A)
B)
C)
D)
E)
vertical
SWOT analysis
consu mer i ntell igence
database
mission statement
13) Gerber serves primarily baby food. In choosing to focus on the baby market,
Gerber is defining its competitive sphere on the basis of __________ _
A)
B)
C)
D)
E)
industry
vertical
competence
market segment
geography
14) The main demographic force that marketers monitor is ___________ _
A)
B)
C)
D)
E)
popu lation
suppliers
government reports dealing with birth rates
communication (such as advertising)
competitors
15) Over the past three decades in the United States, the rich have grown richer
and the middle class has _______ _
A) been ignored because of problems with the poorer classes
B) shrunk
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C) stayed about the same
D) matched the rich in terms of relative growth
E) increased sl ightly
16) Which of the following groups is most vulnerable to recent income distribution
trends in the United States?
A)
B)
C)
D)
E)
Pharmaceutical firms
Large discount chains
Makers of high-end sports cars
Expensive and exclusive restaurants
Conventional retailers offering medium-priced goods
17)Examples of
that were considered to be successful for toy retailers
were Beanie Babies, Furbies, and Tickle Me Elmo dolls.
A)
B)
C)
D)
E)
trends
styles
fashions
fads
megatrends
18) William rose rapidly in his organization and was the youngest CEO in the company's history. William would be characterized as a ________ _
A) seeker
B) preserver
C) maker
D) taker
E) reaper
19)
is the systematic design, collection, analysis, and reporting of data
and findings relevant to a specific marketing situation facing the company.
A)
B)
C)
D)
E)
Demographics
MIS (marketing information system)
Marketi ng i ntell igence
Marketing research
Marketing management
20)A
is a gathering of 6 to 10 people who are carefully selected based
on certain demographic, psychographic, or other considerations and brought
together to discuss at length various topics of interest.
A) consumer dyad
B) Nielsen sample family
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C) focus group
D) virtual research market
E) market maven
21) In spite of the rapid growth of marketing research, many companies still fail
to use it sufficiently or correctly. Barriers to the use of marketing research
include all of the following EXCEPT ______ _
A)
B)
C)
D)
E)
personality and presentational differences
a broad conception of the research
late and occasionally erroneous findings
uneven caliber of researchers
poor fram i ng of the probl em
22) One of the don'ts of questionnaire construction is to ensure that fixed responses do not overlap. Which of the following is the best illustration of a
problem that this "don't" might cause?
A) An income question asks for an income designation in one of the following
income categories: $0-$20,000, $20,000-$40,000, or $40,000 and above.
B) A consumer is asked whether or not he or she could spy on another consumer's
shopping experience.
C) A consumer is asked to describe a recent event while driving.
D) A consumer must describe a cartoon about buying a car.
E) A question has three possible responses: yes, no, or maybe.
23) All of the following would be among the Peppers and Rogers's four-step framework for one-to-one marketing that can be adapted to CRM marketing EXCEPT
A)
B)
C)
D)
E)
identifying your prospects and customers
customizing products, services, and messages to each customer
always offeri ng the lowest price
interacting with individual customers to learn their needs
differentiating customers in terms of their needs and value to the company
24) Harley-Davidson sells more than motorcycles and accessories. Its dealerships
also sell branded clothing and licensed goods. This expansion of dealership sales offerings is an attempt to increase the value of the customer base
by ____ _
A)
B)
C)
D)
E)
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enhancing the growth potential of each customer through cross-selling
reducing the rate of customer defection
making low-profit customers more profitable
terminating low-profit customers
increasing the longevity of the customer relationship
Marketing Management
25) Although actual costs vary from
business to business depending
on the complexity of the sales process, the most expensive customer acquisition method
based on cost per solicitation is ________ _
A)
B)
C)
D)
E)
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personal selling
direct mail
e-rnail
telemarketing
banner advertisements
Marketing
Management
Multiple Choice Questions (Enter your answers on
the enclosed answer sheet)
1)A(n)
is the person who offers informal advice or information about
a specific product or product category, such as which of several brands is best
or how a particular product may be used.
A)
B)
C)
D)
E)
social factor
opinion leader
fam i Iy of procreation
reference group
anchoring heuristic
2) Product choice is greatly affected by economic circumstances. All of the following would be among those circumstances EXCEPT _______ _
A)
B)
C)
D)
E)
borrowi ng power
debts
occupation
savings and assets
spendable income
3)Frederick Herzberg developed a ______________________________ that distinguishes dissatisfiers and
satisfiers.
A)
B)
C)
D)
E)
leadership model
psychological constraint theory
probability scale
trait-role theory
two-factor theory
4) The brand personality of a new product is characterized as having the trait of
---:-:----:-:----:-:- if promotional messages consistently portray the product as being
reliable, intelligent, and successful.
A)
B)
C)
D)
E)
5)
A)
B)
C)
D)
E)
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excitement
sincerity
ruggedness
competence
sophistication
can work to the advantage of marketers with strong brands when consumers make neutral or ambiguous brand information more positive.
Selective embellishment
Selective choice
Selective retention
Selective attention
Selective distortion
6) When marketers interview a
small number of recent purchasers, asking
them to recall the events leading to their purchase, the marketers are using
the
method to learn more about the consumer buying process.
A)
B)
C)
D)
E)
retrospective
descriptive
prescri ptive
introspective
prospective
7)In a
purchasing situation, the buyer wants to make some change to
existing product specifications, prices, delivery requirements, or other terms.
A)
B)
C)
D)
E)
straight rebuy
new rebuy
regular buy
new task
modified rebuy
8) In order to successfully develop customer reference stories, firms should
A)
B)
C)
D)
E)
avoid referencing the barriers to satisfying customer needs
focus on qualitative results
state the customer's needs in compelling terms
describe the company's solution in terms of products and services
use very few direct customer quotes
9)
is composed of all parties who participate in the purchasing decisionmaking process and share common goals and risks associated with their decisions.
A)
B)
C)
D)
E)
The logistics center
Strategic management
Engineering support
The marketing sales team
The buying center
10) Moving into e-procurement has many benefits. Which of the following would
not be among those benefits?
A) Purchasing gains a significant leverage with top management because of its
management team.
B) Aggregating purchasing gains centrally negotiated volume discounts.
C) There is less buying of substandard goods from suppliers not on the approved
list.
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D) A smaller purchasing staff is
required.
E) Aggregating purchasing across departments gains larger volume discounts.
11) Which of the following relationships is characterized as being one that has
much trust and commitment leading to a true partnership?
A)
B)
C)
D)
E)
Cooperative systems
Customer supply
Basic buying and selling
Mutually adaptive
Collaborative
12) If a market is segmented according to light, medium, and heavy product users, the marketer segmenting this market is using the
as the means
to segment.
A)
B)
C)
D)
E)
13)
A)
B)
C)
D)
E)
occasion
buyer-readiness stage
usage rate
benefit
user status
is the science of using psychology and demographics to better understand consumers.
Demographics
Psychographies
Segmentation
Social psychology
Clustering
14) If a marketer is seeking to segment a business market, which of the following
variables is generally felt to be the most important?
A)
B)
C)
D)
E)
Personal characteristics
Operating variables
Purchasing approaches
Demographic variables
Situational factors
15) If an organization's marketing department wished to create "segment storyboards" to test the attractiveness of each segment's positioning strategy, this
action would most likely occur in the step of the segmentation process.
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Marketing
Management
A) marketi ng-mix strategy
B) segment identification
C) segment "acid test"
0) needs-based segmentation
E) segment profitabi I ity
16) Which of the following best represents the chief advantage of pursuing a selective specialization multi-segment strategy?
A) It is a low-cost strategy.
B) It diversifies the firm's risk.
C)It makes the company almost bulletproof to competitors' actions.
0) It creates synergy between markets.
E) It treats all buyers the same and, therefore, lowers promotion costs.
17)
can be defined as the differential effect that brand knowledge has
on consumer response to the marketing of that brand.
A) Product-driven brand equity
B) Service-driven brand equity
C)Mission-driven brand equity
0) Customer-based brand equity
E) Function-based brand equity
18) A brand manager is concerned that his organization's brand image and physical sales are slipping in the marketplace. The manager has decided to query
consumers about the health of the brand and try to discover ways to leverage
the brand's equity. Which of the following terms will most likely provide the
structure and process for the manager's investigation?
A) A secondary search of good brand characteristics
B) An organizational audit
C)A brand demographic matrix analysis
0) A brand-positioning study
E) A brand audit
19) The face of Betty Crocker has been updated several times in the past 75 years
without losing any of its brand recognition. This brand element is __________ _
A) likeable
B) adaptable
C)protectable
0) transferable
E) memorable
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Marketing
Management
20) If the Olive Garden sends
employees to special classes to teach them the
value of the brand and how pasta is much more than just pasta, Olive Garden
is using
to accomplish this task.
A)
B)
C)
D)
E)
macrobranding
internal branding
loya Ity marketi ng
cohort marketing
interruption marketing
21) The preferred approach to positioning is to inform consumers of a brand's
membership before stating its ______ _
A)
B)
C)
D)
E)
point of weakness
point of reference
point-of-parity
point-of-difference
point of conflict
22) Managers try to stimulate sales by modifying the product's characteristics.
Which of these modifications has as its aim to increase the product's functional performance?
A)
B)
C)
D)
E)
Feature improvement
Style improvement
Packaging improvement
Quality improvement
Fashion improvement
23) As a marketing manager, which of the following would be the best purpose for
your organization's competitive points-of-parity?
A)
B)
C)
D)
E)
To rationalize competitive points-of-difference
To negate competitive points-of-difference
To point out competitive points-of-difference
To globalize competitive points-of-difference
To emphasize competitive points-of-difference
24)A(n)
is a group of firms that offer a product or class of products that
are close substitutes for one another.
A)
B)
C)
D)
E)
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industry
cooperative
monopoly
cartel
demand field
Marketing Management
25)Using the market approach, __________ are companies that satisfy the same
customer need.
A)
B)
C)
D)
E)
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entrepreneurs
partners
competitors
followers
innovators
Marketi
ent
Multiple Choice Questions (Enter your answers on
the enclosed answer sheet)
1)
A)
B)
C)
D)
E)
are tangible goods that normally survive many uses.
Durable goods
Nondurable goods
Consumption systems
Services
Potential products
2)Most products can be offered with varying ________________________ that supplement its basic
function.
A)
B)
C)
D)
E)
3)A
conformance qualities
rei iabi I ity
features
forms
none of the above
is the set of all products and items a particular seller offers for
sale.
A)
B)
C)
D)
E)
family of products
product class
product system
product mix
product line
4) The _________ of the product mix refers to the total number of items in the mix.
A)
B)
C)
D)
E)
width
length
height
depth
consistency
5)In offering a product line, companies normally develop a _________________________ and modules
that can be added to meet different customer requirements.
A)
B)
C)
D)
E)
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product
basic platform
conven ience item
"best selling" item
staple item
Market
i
en
t
6)The
of a product mix
refers to how many variants are offered of each
product in the line.
A)
B)
C)
D)
E)
height
depth
consistency
length
width
7) Price-setting logic must be modified when the product is part of a product mix.
I n that case, the firm searches for a set of prices that
profits on the
total mix.
A)
B)
C)
D)
E)
have no effect on total
maximize
are ineffective on total
minimize
capitalize upon
8) Some services require that the client be present to conduct the service. An
example of such a service is a ______ _
A)
B)
C)
D)
E)
car repai r
fast-food meal
medical operation
vending machine
tax service
9)Services high in
qualities are those services that have characteristics
the buyer normally finds hard to evaluate even after consumption.
A)
B)
C)
D)
E)
search
equipment
personal attention
experience
credence
lO)There are shifts that favor the customer in the client relationship. Customers
are now becoming more sophisticated about buying product-support services
and are pressing for ______ _
A)
B)
C)
D)
E)
176
selective pricing
services unbundling
substitute services
institutional pricing/services
promotional pricing
Market
i
nt
11) Top service companies are
"customer obsessed." They have a clear sense of
their target customers and their needs. Their management looks not only at
financial performance on a monthly basis, but also at _________ _
A)
B)
C)
D)
E)
consumer complaints
service performance
tangible rewards
marketing activities
none of the above
12) Manufacturers of equipment all must provide product-support services. Companies in these industries must define customer needs carefully in designing
their service support program. Customers have three specific worries when discussing product-support services. These three worries include all of the following EXCEPT _____ _
A)
B)
C)
D)
E)
downtime
failure frequency
reputation of manufacturer
out-of-pocket costs
service dependability
l3) When restaurants and theme parks add summer workers, they are attempting
to manage supply and demand for their services by _________
A)
B)
C)
D)
E)
sharing services
increasing enrollment
maximizing non-peak demand
introducing complementary services
using part-time employees
14)
communicates to the market the company's intended value positioning of its product or brand.
A)
B)
C)
D)
E)
Place
Packaging
Price
Product features
Promotion
15) Despite its weaknesses, markup pricing remains popular for which of the following reasons?
177
Marketing Management
A) Sellers can determine demand
much more easily than they can estimate costs.
B) Many people feel that cost-plus pricing is fairer to both buyers and sellers.
C) By tying the price to cost, sellers make the pricing task more nuanced.
D) When all firms in the industry use markup pricing, price competition flourishes.
E) Sellers take advantage of buyers when the latter's demand becomes acute.
16)In recent years, companies have adopted
, trying to win loyal customers by charging a fairly low price for a high-quality offering.
A) high-low pricing
B) value pricing
C) everyday low pricing
D) EDLP
E) none of the above
17)In
A)
B)
C)
D)
E)
pricing, the company decides how to price its products to different customers in different locations and countries.
offset
regional
specialty
geographical
none of the above
18) In exchange for the distribution of your products overseas, your firm has accepted to receive a shipment of imported products in trade. This is an example
of what type of countertrade?
A)
B)
C)
D)
E)
Compensation deal
Offset
Barter
Buyback agreement
None of the above
19) Transportation companies, independent warehouses, banks, and advertising
agencies that assist in the distribution process but neither take title to goods
nor negotiate purchases or sales are called _______ _
A)
B)
C)
D)
E)
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merchants
marketers
facilitators
agents
none of the above
Marketi
Managemen
t
20) Generally speaking, buyers fall
into four categories. Which of
the following is
NOT one of these categories?
A)
B)
C)
D)
E)
Habitual shoppers
Variety-Iovi ng shoppers
High-value deal seekers
H igh-i nvolvement shoppers
Low-involvement shoppers
21)A(n)
consists of independent firms at different levels of production
and distribution integrating their programs on a contractual basis to obtain
more economies or sales impact than they could achieve alone.
A)
B)
C)
D)
E)
distributor VMS
contractual VMS
vertical marketing system
administered VMS
none of the above
22) Causes of channel conflict include all of the following, EXCEPT __________ _
A)
B)
C)
D)
E)
dependency
unclear goals and rights
differences in perception
goal incompatibility
channel power usage
23) Intermediaries include retailers, ___________ , and logistical organizations.
A)
B)
C)
D)
E)
Internet companies
competitors
box stores
wholesalers
none of the above
24) According to A.C. Nielsen Company, when considering whether to stock a new
product, store mangers are most influenced by _______ _
A)
B)
C)
D)
E)
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strong evidence of customer acceptance
attractive packaging that will catch consumers' attention
generous financial incentives to the trade
a well-designed advertising and sales promotion plan
none of the above
nt
25)
are independently
owned businesses that take title to the merchandise they handle. They are full-service and limited-service jobbers, distributors, and mill supply houses.
A)
B)
C)
D)
E)
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Retailers' branches
Brokers
Specialized wholesalers
Merchant wholesalers
Agents
Marketi ng
Management
16) A pharmaceutical sales
representative whose role is simply to keep doctors
up-to-date on the latest developments of his or her drug company is playing a
___ role.
A)
B)
C)
D)
E)
order taker
technician
missionary
deliverer
sol ution vendor
17)Advantages of
include that it can be implemented quickly, conducted with a fair amount of security, and carried out without final packaging
and advertising.
A)
B)
C)
D)
E)
sales-wave research
actual test markets
controlled test marketi ng
simulated test marketing
none of the above
18) Five characteristics influence the rate of adoption of an innovation. One of
these is _____ _
A)
B)
C)
D)
marketing expertise
packaging
government regulations
relative advantage
E) all of the above
19) When Scott Paper couldn't compete with Fort Howard Paper Co. on price for
the lucrative institutional toilet tissue market, it decided to differentiate by
making larger rolls of paper and providing institutional customers with free
dispensers. This is an example of _______ _
A)
B)
C)
D)
E)
incrementa I innovation
disruptive technology
fragmented markets
perceptual mapping
customer-driven engineering
20) Combining two product ideas or concepts to create a new offering, for example, oil change/lubrication facilities with cafes, is an example of __________ _
247
/'
Market
i
n A) mind mapping
t B) lateral marketing
C)morphological analysis
0) internal marketing
E) forced relationsh i ps
21) A global firm is one ______ _
A) where the strategic positions of competitors are fundamentally affected by
their overall global positions
B) that operates in more than one country and captures R&O, production, logistical, marketing, and financial advantages not available to purely domestic
com petitors
C) that operates in more than one country and has a sales and marketing staff in
developing countries
0) that has strategic positions in many countries but is not affected by competition researching
E) that operates in more than one country and has a sales and marketing staff in
those countries
22) An international division that is organized with regional vice presidents for
North America, Latin America, Europe, and Africa is said to be a(n) __________ _
A) world product group
B) export department
C)international subsidiary
0) geographical organization
E) none of the above
23) The "Trema" launch was a success! Now, a year later, you have been receiving calls from U.S. dealers complaining that "Trema" is available from international distributors at prices 50 less than the U.S. price. You are faced
with a(n)
problem due to the international success of your product.
A) overstock
B) export/import problem
C)distributor relationship
0) gray market
E) none of the above
24) Several forces are driving companies to practice a higher level of corporate
social responsibility. These include _______ _
A) evolving employee goals and ambitions
B) rising customer expectations
C) investor interests
0) tighter government legislation
E) all of the above
248
/
nt 25) What is the danger to a firm of limiting its cause-related marketing to one
particular cause?
A) The cause may not reach
enough consumers for the firm
to realize a profit
from the support.
B) The cause may go out of business as a cure is found or the problem(s) is(are)
eliminated.
C) The firm must cover many bases because they sell to many consumers.
D) It may limit the consumers or other stakeholders who could transfer positive
feelings from the cause to the firm.
E) The cause may be subject to government regulations or investigations, thereby
em barrassi ng the firm.
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