14 Aug GENERAL CONCEPT QUESTIONS Multiple Choice 1. A key ingredient of the market

GENERAL CONCEPT QUESTIONS

Multiple Choice

1. A key ingredient of the marketing management
process is insightful, ________ marketing strategies and plans that can guide
marketing activities.
a. creative
b. measurable
c. macro
d. micro
e. niche
2. According
to a chapter story about H&M clothing stores, H&M is able to put
products out quickly and inexpensively by all of the following EXCEPT ________.
a. having few middlemen and owning no factories
b. buying large volumes
c. having extensive experience in the clothing industry
d. having a great knowledge of which goods should be bought from
which markets
e. having total control of its distribution channel from the time the
goods are produced until the time they are sold
3. The
task of any business is to deliver ________ at a profit.
a. customer needs
b. products
c. customer value
d. products and services
e. improved quality

4. In a hypercompetitive
economy such as ours, a company can
win only by fine-tuning the value delivery process and choosing, providing, and
________ superior value.
a. communicating
b. selecting target markets with
c. composing
d. developing
e. researching

5. The
traditional view of marketing is that the firm makes something and then ________
it.
a. markets
b. sells
c. distributes
d. prices
e. services

6. Today,
the mass-market is actually splintering into numerous ________, each with its
own wants, perceptions, preferences, and buying criteria.
a. micromarkets
b. market
targets
c. macromarkets
d. customer
cliques
e. demographic units

7. The first phase of the value creation and
delivery sequence is ________ that represents the homework marketing must do
before any product exists.
a. choosing the value
b. market research
c. target
marketing
d. service
consideration
e. projective
thinking

8. The last step in the value creation
and delivery sequence is ________ the value where the sales force, sales promotion, advertising, and other communication tools
announce and promote the product.
a. developing
b. distributing
c. communicating
d. reversing
e. researching

9. The Japanese have refined the value delivery
process to include a component that
emphasizes ________.
a. zero servicing
b. zero customer feedback time
c. zero promotion
d. zero dependency on intermediaries
e. zero marketing costs

10.The
________ is a tool for identifying ways to createmore
customer value.
a. value chain
b. customer survey
c. brand loyalty index
d. promotion
channel
e. supplier database
11. The ________ identifies nine
strategically relevant activities that create value and cost in a specific
business.
a. value proposition
b. value chain
c. mission statement
d. annual report
e. managers log

12. The ________ in the value chain
cover the sequence of bringing materials into the business (inbound logistics),
converting them into final products (operations), shipping out final products
(outbound logistics), marketing them (marketing and sales), and servicing them
(service).
a. operations process
b. manufacturing process
c. primary activities
d. secondary activities
e. tertiary activities

13.Procurement,
technology development, human resource management, and firm infrastructure are
handled in certain specialized departments and are called ________.
a. materials handling
b. support activities
c. inventory activities
d. primary activities
e. benchmark activities

14.The firm should estimate its competitors costs and performances as ________
against which to compare its own
costs and performance.
a. competition
b. standards
c. challenges
d. benchmarks
e. moveable standards

15.The
firms success depends not only on how well each department performs its work,
but also on how well the various departmental activities are coordinated to
conduct ________.
a. core strategies
b. satellite businesses
c. core values
d. core business processes
e. core technologies
16.With respect to core business
processes, all the activities involved in gathering market intelligence,
disseminating it within the organization, and acting on the information is
referred to as the ________.
a. market
sensing process
b. market
research process
c. target
marketing process
d. market pulse
process
e. deployment
process

17.With respect to the core
business processes, all the activities involved in researching, developing, and
launching new high-quality offerings quickly and within budget are referred to
as the ________.
a. new product
process
b. new offering
realization process
c. product
development process
d. product launch
process
e. return on
investment process

18.With
respect to the core business processes, the ________ is considered to be all
the activities involved in defining target markets and prospecting for new
customers.
a. customer
acquisition process
b. customer
relationship management process
c. fulfillment
management process
d. customer
prospecting process
e. customer
equity process

19.A good way to
describe the ________ would be discuss all the activities involved in building
deeper understanding, relationships,
and offerings to individual customers.
a. customer
acquisition process
b. customer
relationship management process
c. customer
prospecting process
d. customer
fulfillment management process
e. customer
equity process
20.Another way to describe a value delivery
network (partnering with specific suppliers and distributors) is to call it a ________.
a. teamwork group
b. cabal
c. domestic power center
d. link to relationships
e. supply chain

21. The key
to utilizing organizational core competencies
is to ________ that make up the essence of the business.
a. make the competencies
pay for themselves
b. own all intermediaries who come in contact with your goods and
services
c. own and nurture the resources and competencies
d. emphasize global promotions
e. segment workforces

22.We can say that a ________ has
three characteristics: (1) It is a source of competitive
advantage in that it makes a significant contribution to perceived customer
benefits, (2) it has applications in a wide variety of markets, and (3) it is
difficult for competitors to
imitate.
a. core competency
b. business
strategy
c. core
technology
d. strategic
business unit
e. winning
strategy

23.Core competencies
tend to refer to areas of special technical and production expertise, where ________
tend to describe excellence in broader business processes.
a. process
benchmarks
b. distinctive capabilities
c. core business values
d. value statements
e. mission statements

24.George Day sees market-driven organizations as
excelling in three distinctive capabilities: ________, customer linking, and
channel bonding.
a. target marketing
b. market research
c. fulfilling customer needs
d. market sensing
e. customer service relationships

25.Competitors
find it hard to imitate companies
such as Southwest Airlines, Dell, or
IKEA because they are unable to copy their ________.
a. product innovations
b. distribution strategy
c. pricing policies
d. activity systems
e. logistics system

26.One conception of holistic marketing views it
as integrating the value exploration, ________, and value delivery activities
with the purpose of building long-term, mutually satisfying relationships and co-prosperity among
key stakeholders.
a. value
creation
b. value
proposition
c. value
management
d. value
research
e. value chain

27.Holistic
marketers achieve profitable growth by expanding customer share, ________, and
capturing customer lifetime value.
a. undermining
competitive competencies

b. building
customer loyalty
c. milking the
market for product desires
d. renewing a
customer base
e. inspecting
all market share data

28.The
holistic marketing framework is designed to address three key management
questions. Which of the following is one of those questions?
a. Value
claimshow does the company deal
with value erosion?
b. Value propositionhow can
value propositions be made profitable?
c. Value chainare there weak
links in the companys value chain
d. Value networkhow can a company effectively network?
e. Value explorationhow can a company
identify new value opportunities?

29.The customers ________ reflects existing and
latent needs and includes dimensions such as the need for participation,
stability, freedom, and change.
a. competence space
b. resource space
c. emotional space
d. relationship space
e. cognitive space

30.The
companys ________ can be described
in terms of breadthbroad versus focused scope of business; and depthphysical versus knowledge-based
capabilities.
a. business mission
b. core strategy
c. cognitive space
d. competency space
e. resource space
GENERAL CONCEPT QUESTIONSMultiple Choice 1. A key ingredient of the marketing management
process is insightful, ________ marketing strategies and plans that can guide
marketing activities. a. creativeb. measurablec. macrod. microe. niche2. According
to a chapter story about H&M clothing stores, H&M is able to put
products out quickly and inexpensively by all of the following EXCEPT ________.a. having few middlemen and owning no factoriesb. buying large volumesc. having extensive experience in the clothing industry d. having a great knowledge of which goods should be bought from
which markets e. having total control of its distribution channel from the time the
goods are produced until the time they are sold3. The
task of any business is to deliver ________ at a profit. a. customer needs b. productsc. customer valued. products and servicese. improved quality 4. In a hypercompetitive
economy such as ours, a company can
win only by fine-tuning the value delivery process and choosing, providing, and
________ superior value.a. communicatingb. selecting target markets withc. composingd. developinge. researching5. The
traditional view of marketing is that the firm makes something and then ________
it.a. marketsb. sellsc. distributesd. prices e. services 6. Today,
the mass-market is actually splintering into numerous ________, each with its
own wants, perceptions, preferences, and buying criteria.a. micromarketsb. market
targetsc. macromarketsd. customer
cliquese. demographic units 7. The first phase of the value creation and
delivery sequence is ________ that represents the homework marketing must do
before any product exists.a. choosing the valueb. market researchc. target
marketingd. service
consideratione. projective
thinking 8. The last step in the value creation
and delivery sequence is ________ the value where the sales force, sales promotion, advertising, and other communication tools
announce and promote the product.a. developingb. distributingc. communicatingd. reversinge. researching 9. The Japanese have refined the value delivery
process to include a component that
emphasizes ________. a. zero servicingb. zero customer feedback timec. zero promotiond. zero dependency on intermediariese. zero marketing costs 10.The
________ is a tool for identifying ways to createmore
customer value.a. value chainb. customer surveyc. brand loyalty indexd. promotion
channele. supplier database 11. The ________ identifies nine
strategically relevant activities that create value and cost in a specific
business.a. value propositionb. value chainc. mission statementd. annual reporte. managers log 12. The ________ in the value chain
cover the sequence of bringing materials into the business (inbound logistics),
converting them into final products (operations), shipping out final products
(outbound logistics), marketing them (marketing and sales), and servicing them
(service).a. operations processb. manufacturing processc. primary activitiesd. secondary activitiese. tertiary activities 13.Procurement,
technology development, human resource management, and firm infrastructure are
handled in certain specialized departments and are called ________. a. materials handlingb. support activitiesc. inventory activitiesd. primary activitiese. benchmark activities 14.The firm should estimate its competitors costs and performances as ________
against which to compare its own
costs and performance.a. competitionb. standardsc. challengesd. benchmarkse. moveable standards 15.The
firms success depends not only on how well each department performs its work,
but also on how well the various departmental activities are coordinated to
conduct ________.a. core strategiesb. satellite businessesc. core valuesd. core business processese. core technologies16.With respect to core business
processes, all the activities involved in gathering market intelligence,
disseminating it within the organization, and acting on the information is
referred to as the ________.a. market
sensing processb. market
research processc. target
marketing processd. market pulse
processe. deployment
process 17.With respect to the core
business processes, all the activities involved in researching, developing, and
launching new high-quality offerings quickly and within budget are referred to
as the ________.a. new product
processb. new offering
realization processc. product
development processd. product launch
processe. return on
investment process18.With
respect to the core business processes, the ________ is considered to be all
the activities involved in defining target markets and prospecting for new
customers.a. customer
acquisition processb. customer
relationship management processc. fulfillment
management processd. customer
prospecting processe. customer
equity process 19.A good way to
describe the ________ would be discuss all the activities involved in building
deeper understanding, relationships,
and offerings to individual customers.a. customer
acquisition processb. customer
relationship management processc. customer
prospecting processd. customer
fulfillment management processe. customer
equity process20.Another way to describe a value delivery
network (partnering with specific suppliers and distributors) is to call it a ________. a. teamwork groupb. cabalc. domestic power centerd. link to relationshipse. supply chain21. The key
to utilizing organizational core competencies
is to ________ that make up the essence of the business. a. make the competencies
pay for themselvesb. own all intermediaries who come in contact with your goods and
servicesc. own and nurture the resources and competenciesd. emphasize global promotions e. segment workforces 22.We can say that a ________ has
three characteristics: (1) It is a source of competitive
advantage in that it makes a significant contribution to perceived customer
benefits, (2) it has applications in a wide variety of markets, and (3) it is
difficult for competitors to
imitate.a. core competencyb. business
strategyc. core
technologyd. strategic
business unite. winning
strategy 23.Core competencies
tend to refer to areas of special technical and production expertise, where ________
tend to describe excellence in broader business processes.a. process
benchmarksb. distinctive capabilitiesc. core business valuesd. value statementse. mission statements 24.George Day sees market-driven organizations as
excelling in three distinctive capabilities: ________, customer linking, and
channel bonding.a. target marketingb. market research c. fulfilling customer needsd. market sensinge. customer service relationships 25.Competitors
find it hard to imitate companies
such as Southwest Airlines, Dell, or
IKEA because they are unable to copy their ________.a. product innovationsb. distribution strategyc. pricing policiesd. activity systemse. logistics system 26.One conception of holistic marketing views it
as integrating the value exploration, ________, and value delivery activities
with the purpose of building long-term, mutually satisfying relationships and co-prosperity among
key stakeholders.a. value
creationb. value
propositionc. value
managementd. value
researche. value chain 27.Holistic
marketers achieve profitable growth by expanding customer share, ________, and
capturing customer lifetime value.a. undermining
competitive competencies
b. building
customer loyaltyc. milking the
market for product desiresd. renewing a
customer basee. inspecting
all market share data 28.The
holistic marketing framework is designed to address three key management
questions. Which of the following is one of those questions?a. Value
claimshow does the company deal
with value erosion?b. Value propositionhow can
value propositions be made profitable?c. Value chainare there weak
links in the companys value chaind. Value networkhow can a company effectively network?e. Value explorationhow can a company
identify new value opportunities? 29.The customers ________ reflects existing and
latent needs and includes dimensions such as the need for participation,
stability, freedom, and change.a. competence spaceb. resource spacec. emotional spaced. relationship spacee. cognitive space 30.The
companys ________ can be described
in terms of breadthbroad versus focused scope of business; and depthphysical versus knowledge-based
capabilities. a. business missionb. core strategyc. cognitive spaced. competency spacee. resource space

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