14 Aug 1. Through its cutting-edge point-of-sale inventory, management technology, and

1. Through its
cutting-edge point-of-sale inventory, management technology, and highly
efficient shipping practices, Wal-Mart is able to keep its inventory
expenditure extremely low and to pass these savings on to consumers in the form
of low prices. Wal-Mart’s strategy is best described as ________.
integrative growth
differentiation
overall cost
leadership
market development
2. The ability to
meet humanitys needs without harming future generations is now a top priority
in most corporate agenda________.
sustainability
ethics
righteousness
rules
3. Marketers must
see themselves as benefit providers. For example, when a shopper purchases new
shoes, he or she expects the shoes to cover his or her feet and allow him or
her to walk unobstructed. This is an example of what level in the
consumer-value hierarchy?
Pure tangible
product
Augmented product
Basic product
Potential product
4. A social
definition of marketing says ______.
marketing is the
process by which individuals and groups obtain what they need and want through
creating, offering, and freely exchanging products and services of value with
others
a company should
focus exclusively on achieving high production efficiency, low costs, and mass
distribution to facilitate the broadest possible access to the companys
products
effective marketing
requires companies to remove intermediaries to achieve a closer connection with
direct consumers
marketing is the
process of extracting maximum value from consumers to facilitate corporate
growth
5. If the Ford GT
is designed to accelerate to 50 miles per hour within 10 seconds, and every
Ford GT coming off the assembly line does this, the model is said to have high
________.
compatibility
durability
conformance quality
interoperability
6. 2Wheels conducts
exhaustive customer surveys to discover customer preferences and attitudes
towards the brand. Sally uses cluster analysis to classify the data and help
the company determine the trends in the information. Sally is using the technique
of ________.
data accumulation
data governance
data mining
data marketing
7. A music school
in Boyles Height, LA, specializes in teaching the guitar and the violin. After
a spurt in growth and a few successful years, the school is experiencing a slowdown
in sales and stability in its profits due to an increase in competition. The
school is in the ________ stage of its life cycle.
maturity
growth
obsolescence
decline
8. What are the
four characteristics of a marketing audit?
Comprehensive,
systematic, independent, and periodic
Announced,
semi-annually, dependent, and perpetual
Simple, unique,
randomly, and exclusive
Dependent,
non-comprehensive, quarterly, and unannounced
9. Another basis
for decision-making is referred to as ________.
ethical dilemmas
correct ethics
ethical practices
situational ethics
10. Which of the
following is a strategy that uses the manufacturers sales force, trade
promotion money, or other means to induce intermediaries to carry, promote, and
sell the product to end users?
Lock strategy
Push strategy
Pull strategy
Strategic plan
11. What type of
control focuses on measuring a companys products territories, customer groups,
segments, trade channels, and order sizes to help expand or eliminate any
products or marketing activities?
Efficiency
Solvency
Profitability
Activity
12. Which of the
following can induce a firm to expand into the international arena?
Cater to a domestic
mass market
A saturated
domestic market
High income level
of domestic consumers
A saturated foreign
market
13. _______ is an
approach that considers different ethnic and cultural segments require targeted
marketing campaigns and tactics.
Diversity marketing
Multicultural
marketing
Specialized
marketing
Ethnic-based
marketing
14. ABC Technology
is nearing completion on their product and market research has discovered a
competitor is also close to launching a similar product. ABC has decided launch
before their competition, this is called ________.
parallel entry
first entry
early entry
late entry
15. Which method
identifies the effect sponsorship has on consumers brand knowledge?
Demand-side method
Positioning method
Supply-side method
Pricing method
16. The three
guidelines for anticipating management reactions are (1) prior to the crisis
during normal day-to day operations, (2) at the moment some event triggers the
crisis, and (3) during the crisis situation that triggers the event. These
guidelines are the stages for ________.
decision making
provoking solutions
crisis management
problem-solving
17. What can
enhance the value of Web-based shopping experiences to serve as personal
shopping assistants or Web-site guides?
Smartphones
Tablets
Avatars
E-mail
18. The effect of
exposures on audience awareness depends on the following three factors:
space, communication,
and advertisements
reach, frequency,
and impact
distance, timing,
and focus
height, length, and
width
19. Which component of a marketing audit
includes major developments in income, prices, savings, and credit that affect
the company?
Technological
Political
Economic
Cultural
20. What type of strategy consists of
geographical pricing, price discounts and allowances, promotional pricing, and
differentiated pricing?
Regular prices
Price adaptation
Altered pricing
Fixed pricing
21. A company can learn a great deal by
analyzing the degrees of brand loyalty. For example, ________ can show the firm
which brands are most competitive with its own.
hard-core loyals
split loyals
shifting loyals
switchers
22. Marketers need to identify the hierarchy
of attributes that guide consumer decision making in order to understand
different competitive forces and how these various sets get formed. This
process of identifying the hierarchy is called ________.
market valuation
market estimation
brand association
market partitioning
23. Which control should periodically
reassess its approach to the marketplace with a good marketing audit?
Marketing control
Ethical control
Performance control
Strategic control
24. What is the perceived monetary value of
the bundle of economic, functional, and psychological benefits customers expect
from a given market offering because of the product, service, people, and
image?
Total management benefit
Complete marketing benefit
Total customer benefit
Ultimate service benefit
25. With ________ as a target market
strategy, the firm concentrates on serving many needs of a particular customer
group.
market specialization
product specialization
selective specialization
single-segment concentration
26. A firm must know where to position its
product based on price and ________.
region
quality
promotional efforts
communication
27. BMW’s “The ultimate driving
machine,” American Express’ “Don’t leave home without it,” New
York Times’ “All the news that’s fit to print,” and AT&T’s
“Reach out and touch someone” are all examples of ________.
brand slogan
brand personality
brand vision
brand mission
28. Prestige LLC, a small company that
manufactures specialty cereals and energy bars, wants to launch a “green
marketing” program in response to heightened consumer awareness about
environmental issues. What should the company do to maximize the program’s
chances of being successful?
Emphasize benefits to the consumer rather
than environmental benefits.
Explain the rules and regulations laid out by
governmental agencies to protect the environment.
Demonstrate that the products will benefit
both customers and the society in the long-term.
Focus on the efforts and costs incurred by
the company to bring these “green” products to consumers.
29. The marketing manager needs to know the
cost of the research project before approving it. During which stage of the
marketing research process would such a consideration most likely take place?
Step 1 defining the problem
Step 2 developing the research plan
Step 4 analyzing the information
Step 5 drafting the report
30. New-to-the-world products are ________.
new product enhancements that supplement
established products
existing products that are targeted to new
geographical markets
new products that create an entirely new
market
low-cost products designed to obtain an edge
in highly competitive markets
1. Through its
cutting-edge point-of-sale inventory, management technology, and highly
efficient shipping practices, Wal-Mart is able to keep its inventory
expenditure extremely low and to pass these savings on to consumers in the form
of low prices. Wal-Mart’s strategy is best described as ________.integrative growthdifferentiationoverall cost
leadershipmarket development2. The ability to
meet humanitys needs without harming future generations is now a top priority
in most corporate agenda________.sustainabilityethicsrighteousnessrules3. Marketers must
see themselves as benefit providers. For example, when a shopper purchases new
shoes, he or she expects the shoes to cover his or her feet and allow him or
her to walk unobstructed. This is an example of what level in the
consumer-value hierarchy?Pure tangible
productAugmented productBasic productPotential product4. A social
definition of marketing says ______.marketing is the
process by which individuals and groups obtain what they need and want through
creating, offering, and freely exchanging products and services of value with
othersa company should
focus exclusively on achieving high production efficiency, low costs, and mass
distribution to facilitate the broadest possible access to the companys
productseffective marketing
requires companies to remove intermediaries to achieve a closer connection with
direct consumersmarketing is the
process of extracting maximum value from consumers to facilitate corporate
growth5. If the Ford GT
is designed to accelerate to 50 miles per hour within 10 seconds, and every
Ford GT coming off the assembly line does this, the model is said to have high
________.compatibilitydurabilityconformance qualityinteroperability6. 2Wheels conducts
exhaustive customer surveys to discover customer preferences and attitudes
towards the brand. Sally uses cluster analysis to classify the data and help
the company determine the trends in the information. Sally is using the technique
of ________. data accumulationdata governancedata miningdata marketing7. A music school
in Boyles Height, LA, specializes in teaching the guitar and the violin. After
a spurt in growth and a few successful years, the school is experiencing a slowdown
in sales and stability in its profits due to an increase in competition. The
school is in the ________ stage of its life cycle.maturitygrowthobsolescencedecline8. What are the
four characteristics of a marketing audit?Comprehensive,
systematic, independent, and periodicAnnounced,
semi-annually, dependent, and perpetualSimple, unique,
randomly, and exclusiveDependent,
non-comprehensive, quarterly, and unannounced9. Another basis
for decision-making is referred to as ________.ethical dilemmascorrect ethicsethical practicessituational ethics10. Which of the
following is a strategy that uses the manufacturers sales force, trade
promotion money, or other means to induce intermediaries to carry, promote, and
sell the product to end users?Lock strategyPush strategyPull strategyStrategic plan11. What type of
control focuses on measuring a companys products territories, customer groups,
segments, trade channels, and order sizes to help expand or eliminate any
products or marketing activities?EfficiencySolvencyProfitabilityActivity12. Which of the
following can induce a firm to expand into the international arena?Cater to a domestic
mass marketA saturated
domestic marketHigh income level
of domestic consumersA saturated foreign
market13. _______ is an
approach that considers different ethnic and cultural segments require targeted
marketing campaigns and tactics. Diversity marketingMulticultural
marketingSpecialized
marketingEthnic-based
marketing14. ABC Technology
is nearing completion on their product and market research has discovered a
competitor is also close to launching a similar product. ABC has decided launch
before their competition, this is called ________.parallel entryfirst entryearly entrylate entry15. Which method
identifies the effect sponsorship has on consumers brand knowledge?Demand-side methodPositioning methodSupply-side methodPricing method16. The three
guidelines for anticipating management reactions are (1) prior to the crisis
during normal day-to day operations, (2) at the moment some event triggers the
crisis, and (3) during the crisis situation that triggers the event. These
guidelines are the stages for ________.decision makingprovoking solutionscrisis managementproblem-solving17. What can
enhance the value of Web-based shopping experiences to serve as personal
shopping assistants or Web-site guides?SmartphonesTabletsAvatarsE-mail18. The effect of
exposures on audience awareness depends on the following three factors:space, communication,
and advertisementsreach, frequency,
and impactdistance, timing,
and focusheight, length, and
width19. Which component of a marketing audit
includes major developments in income, prices, savings, and credit that affect
the company?TechnologicalPoliticalEconomicCultural20. What type of strategy consists of
geographical pricing, price discounts and allowances, promotional pricing, and
differentiated pricing?Regular pricesPrice adaptationAltered pricingFixed pricing21. A company can learn a great deal by
analyzing the degrees of brand loyalty. For example, ________ can show the firm
which brands are most competitive with its own.hard-core loyalssplit loyalsshifting loyalsswitchers22. Marketers need to identify the hierarchy
of attributes that guide consumer decision making in order to understand
different competitive forces and how these various sets get formed. This
process of identifying the hierarchy is called ________.market valuationmarket estimationbrand associationmarket partitioning23. Which control should periodically
reassess its approach to the marketplace with a good marketing audit?Marketing controlEthical controlPerformance controlStrategic control24. What is the perceived monetary value of
the bundle of economic, functional, and psychological benefits customers expect
from a given market offering because of the product, service, people, and
image?Total management benefitComplete marketing benefitTotal customer benefitUltimate service benefit25. With ________ as a target market
strategy, the firm concentrates on serving many needs of a particular customer
group.market specializationproduct specializationselective specializationsingle-segment concentration26. A firm must know where to position its
product based on price and ________.regionqualitypromotional effortscommunication27. BMW’s “The ultimate driving
machine,” American Express’ “Don’t leave home without it,” New
York Times’ “All the news that’s fit to print,” and AT&T’s
“Reach out and touch someone” are all examples of ________.brand sloganbrand personalitybrand visionbrand mission28. Prestige LLC, a small company that
manufactures specialty cereals and energy bars, wants to launch a “green
marketing” program in response to heightened consumer awareness about
environmental issues. What should the company do to maximize the program’s
chances of being successful?Emphasize benefits to the consumer rather
than environmental benefits.Explain the rules and regulations laid out by
governmental agencies to protect the environment.Demonstrate that the products will benefit
both customers and the society in the long-term.Focus on the efforts and costs incurred by
the company to bring these “green” products to consumers.29. The marketing manager needs to know the
cost of the research project before approving it. During which stage of the
marketing research process would such a consideration most likely take place?Step 1 defining the problemStep 2 developing the research planStep 4 analyzing the informationStep 5 drafting the report30. New-to-the-world products are ________.new product enhancements that supplement
established productsexisting products that are targeted to new
geographical marketsnew products that create an entirely new
marketlow-cost products designed to obtain an edge
in highly competitive markets

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