Question 1

Which of the following is NOT a market-oriented business definition?

Accepted Answer

A)  "We empower customers to realize their dreams." 
B)  "We make high-quality consumer food products." 
C)  "We sell success and status." 
D)  "We create the Hilton experience." 
E)  "We bring innovation to every home." 
A)  "We empower customers to realize their dreams." 
B)  "We make high-quality consumer food products." 
C)  "We sell success and status." 
D)  "We create the Hilton experience." 
E)  "We bring innovation to every home." B

Question 2

The collection of businesses and products that make up a company is called its ________.

Accepted Answer

A)  strategic business unit 
B)  supply chain 
C)  strategic plan 
D)  business portfolio 
E)  internal value chain 
A)  strategic business unit 
B)  supply chain 
C)  strategic plan 
D)  business portfolio 
E)  internal value chain D

Question 3

In the marketing mix, design, packaging, services, and variety can be categorized under ________.

Accepted Answer

A)  product 
B)  price 
C)  promotion 
D)  place 
E)  position 
A)  product 
B)  price 
C)  promotion 
D)  place 
E)  position A

Question 4

The managers of Alfredo's Pizza, a popular pizzeria in New York City, have been increasingly encouraging senior citizens to visit the pizzeria's numerous outlets spread across the city. Anticipating a rise in the population of senior citizens in the area, the management of Alfredo's Pizza is seeking to tap into this promising segment that consists of retired, affluent consumers. In this instance, the managers of Alfredo's Pizza are anticipating company growth through ________.

Accepted Answer

A)  market development 
B)  product development 
C)  mass customization 
D)  niche marketing 
E)  product differentiation 
A)  market development 
B)  product development 
C)  mass customization 
D)  niche marketing 
E)  product differentiation

Question 5

What does a market segment consist of?

Accepted Answer

A market segment consists of c

Question 6

________ refer(s) to meaningful sets of marketing performance measures in a single display used to monitor strategic marketing performance.

Accepted Answer

A)  Field automation systems 
B)  Market segments 
C)  Market share 
D)  Marketing dashboards 
E)  Line extensions 
A)  Field automation systems 
B)  Market segments 
C)  Market share 
D)  Marketing dashboards 
E)  Line extensions

Question 7

Each company department can be thought of as a link in the company's internal value chain.

Accepted Answer

A) True 
 B)False

Question 8

Teenagers are expected to respond in a similar way to a set of marketing efforts. In other words, this group represents a ________.

Accepted Answer

A)  channel intermediary 
B)  line extension 
C)  market segment 
D)  product attribute 
E)  brand personality 
A)  channel intermediary 
B)  line extension 
C)  market segment 
D)  product attribute 
E)  brand personality

Question 9

Which of the following refers to the process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors?

Accepted Answer

A)  market diversification 
B)  market segmentation 
C)  downsizing 
D)  customer relationship management 
E)  prospecting 
A)  market diversification 
B)  market segmentation 
C)  downsizing 
D)  customer relationship management 
E)  prospecting

Question 10

In the marketing mix, place includes ________.

Accepted Answer

A)  logistics 
B)  discounts 
C)  sales promotion 
D)  advertising 
E)  packaging 
A)  logistics 
B)  discounts 
C)  sales promotion 
D)  advertising 
E)  packaging

Question 11

What does the marketing ROI measure?

Accepted Answer

It measures the prof

Question 12

Define marketing planning. What are the contents of a marketing plan?

Accepted Answer

Marketing planning involves choosing mar

Question 13

A mission statement serves as a ________.

Accepted Answer

A)  statement of the organization's net profits 
B)  plan for short-term sustainability 
C)  statement of the organization's purpose 
D)  statement of the organization's current liabilities 
E)  repatriation plan for the organization's highly-skilled employees 
A)  statement of the organization's net profits 
B)  plan for short-term sustainability 
C)  statement of the organization's purpose 
D)  statement of the organization's current liabilities 
E)  repatriation plan for the organization's highly-skilled employees

Question 14

The marketing logic by which a company hopes to create customer value and achieve profitable customer relationships is referred to as the ________.

Accepted Answer

A)  price 
B)  marketing implementation 
C)  value chain 
D)  marketing strategy 
E)  downsizing 
A)  price 
B)  marketing implementation 
C)  value chain 
D)  marketing strategy 
E)  downsizing

Question 15

________ are low-growth, high-share businesses/products that need less investment to hold their market share.

Accepted Answer

A)  Stars 
B)  Cash cows 
C)  Question marks 
D)  Dogs 
E)  Bears 
A)  Stars 
B)  Cash cows 
C)  Question marks 
D)  Dogs 
E)  Bears

Question 16

The purpose of strategic planning is to find ways in which your company can best use its strengths to take advantage of attractive opportunities in the environment.

Accepted Answer

A) True 
 B)False

Question 17

Omega Inc. makes lightweight sunglasses with 100-percent UV protection for people who love to hunt, hike, and ride bikes. The company's long-term plans include the development of lenses that, in addition to protecting users from UV rays, would help reduce lens spotting through effective water-sheeting methods. This new feature would be valuable to people who fish. Given the rising popularity of recreational fishing in the United States, Omega products clearly have a huge market potential. In terms of a SWOT analysis, Omega has recognized a market ________.

Accepted Answer

A)  weakness 
B)  strength 
C)  threat 
D)  opportunity 
E)  challenge 
A)  weakness 
B)  strength 
C)  threat 
D)  opportunity 
E)  challenge

Question 18

Which of the following is NOT an example of product-oriented mission statements?

Accepted Answer

A)  "We are an online library." 
B)  "We run theme parks." 
C)  "We sell athletic shoes." 
D)  "We sell memorable experiences." 
E)  "We rent hotel rooms." 
A)  "We are an online library." 
B)  "We run theme parks." 
C)  "We sell athletic shoes." 
D)  "We sell memorable experiences." 
E)  "We rent hotel rooms."

Question 19

Effective positioning begins with ________.

Accepted Answer

A)  pricing 
B)  diversification 
C)  differentiation 
D)  promotion 
E)  segmentation 
A)  pricing 
B)  diversification 
C)  differentiation 
D)  promotion 
E)  segmentation

Question 20

What are the components of a company's marketing mix?

Accepted Answer

A company designs an integrate

Which of the following is NOT a market-oriented business definition?

The collection of businesses and products that make up a company is called its ________.

In the marketing mix, design, packaging, services, and variety can be categorized under ________.

What does a market segment consist of?

________ refer(s) to meaningful sets of marketing performance measures in a single display used to monitor strategic marketing performance.

Each company department can be thought of as a link in the company's internal value chain.

Teenagers are expected to respond in a similar way to a set of marketing efforts. In other words, this group represents a ________.

Which of the following refers to the process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors?

In the marketing mix, place includes ________.

What does the marketing ROI measure?

Define marketing planning. What are the contents of a marketing plan?

A mission statement serves as a ________.

The marketing logic by which a company hopes to create customer value and achieve profitable customer relationships is referred to as the ________.

________ are low-growth, high-share businesses/products that need less investment to hold their market share.

The purpose of strategic planning is to find ways in which your company can best use its strengths to take advantage of attractive opportunities in the environment.

Which of the following is NOT an example of product-oriented mission statements?

Effective positioning begins with ________.

What are the components of a company's marketing mix?

Marketing: Creating and Capturing Customer Value

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

New-Product Development and Product Life Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 2: Company and Marketing Strategy: Partnering to Build Customer Relationships

Which of the following is NOT a market-oriented business definition?

The collection of businesses and products that make up a company is called its ________.

In the marketing mix, design, packaging, services, and variety can be categorized under ________.

What does a market segment consist of?

________ refer(s) to meaningful sets of marketing performance measures in a single display used to monitor strategic marketing performance.

Each company department can be thought of as a link in the company's internal value chain.

Teenagers are expected to respond in a similar way to a set of marketing efforts. In other words, this group represents a ________.

Which of the following refers to the process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors?

In the marketing mix, place includes ________.

What does the marketing ROI measure?

Define marketing planning. What are the contents of a marketing plan?

A mission statement serves as a ________.

The marketing logic by which a company hopes to create customer value and achieve profitable customer relationships is referred to as the ________.

________ are low-growth, high-share businesses/products that need less investment to hold their market share.

The purpose of strategic planning is to find ways in which your company can best use its strengths to take advantage of attractive opportunities in the environment.

Which of the following is NOT an example of product-oriented mission statements?

Effective positioning begins with ________.

What are the components of a company's marketing mix?

Marketing: Creating and Capturing Customer Value

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

New-Product Development and Product Life Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters