Question 1

What is a marketing strategy? How do marketing strategies help firms?

Accepted Answer

Marketing strategy refers to the marketi

Question 2

A product's position is the place it occupies relative to competitors' products in consumers' minds.

Accepted Answer

A) True 
 B)False

Question 3

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 4

Refer to the scenario below to answer the following question(s).
Fun-Spot Fun Park began as a small amusement park in 1985. With nothing more than a merry-go-round, a slide, pony rides, and an ice cream stand, Fun-Spot grew into a popular family attraction with 20 rides, a restaurant, and an outdoor performing arts theater.
"My wife, Gail, and I didn't know what we were getting into," commented Ron Hart, the owner. "We just knew that weekenders coming to the lakes in our rural area represented an untapped market."
Today, thousands of visitors flock to Fun-Spot: families, children of all ages, and even senior citizens who enjoy strolling through the gardens and the arbors. "There's something here for everyone," Gail Hart said with a smile. "Dozens of companies hold annual company picnics here. We have welcomed class field trips. And we even had one wedding here at the park!"
"Here's the funny thing," Ron chimed in. "We really don't know why we've been so successful. There is nothing else like Fun-Spot Fun Park in the area. We were just lucky." "I think it's the ambience of the park that has brought so many visitors," Gail added. "We provide a 'total package' of entertainment. Plus, we try to change our rides and various attractions from time to time for variety."
Ron and Gail Hart admitted that making every visitor happy is a priority. "That has always been our philosophy," they said. "Like the park's motto at the entrance reads, 'We're here to make you happy!' And we've always been able to deliver on that because we've never allowed ourselves to grow too big too quickly."
-Which of the following would be classified as an opportunity in a SWOT analysis of Fun-Spot?

Accepted Answer

A)  A rival amusement park announces plans to open three new rides next season. 
B)  A new luxury hotel is being constructed in the area, with the aim of attracting more high-spending families on vacation. 
C)  Ron and Gail have paid off the mortgage on Fun-Spot, significantly reducing their monthly expenses. 
D)  Fun-Spot employees tend to be enthusiastic and young, projecting an image of fun and vitality. 
E)  Fun-Spot plans to further diversify its offerings by beginning a two-week summer camp for elementary school students. 
A)  A rival amusement park announces plans to open three new rides next season. 
B)  A new luxury hotel is being constructed in the area, with the aim of attracting more high-spending families on vacation. 
C)  Ron and Gail have paid off the mortgage on Fun-Spot, significantly reducing their monthly expenses. 
D)  Fun-Spot employees tend to be enthusiastic and young, projecting an image of fun and vitality. 
E)  Fun-Spot plans to further diversify its offerings by beginning a two-week summer camp for elementary school students.

Question 5

Which of the following is true with regard to geographic organization?

Accepted Answer

A)  It is the most common form of marketing organization. 
B)  Different marketing activities are headed by a functional specialist. 
C)  It requires salespeople to have international experience. 
D)  It reduces the overall efficiency of salespeople. 
E)  It allows salespeople to work with a minimum of travel time and cost. 
A)  It is the most common form of marketing organization. 
B)  Different marketing activities are headed by a functional specialist. 
C)  It requires salespeople to have international experience. 
D)  It reduces the overall efficiency of salespeople. 
E)  It allows salespeople to work with a minimum of travel time and cost.

Question 6

Emerson Studios has designed its marketing organization along the lines of a ________ organization in which operational specialists head different marketing activities.

Accepted Answer

A)  geographic 
B)  product 
C)  functional 
D)  customer 
E)  market 
A)  geographic 
B)  product 
C)  functional 
D)  customer 
E)  market

Question 7

Lark Inc., an American electronics company, is currently reviewing new geographical markets to sell its highly popular televisions. By 2020, it plans to open new stores across all the major South Asian cities. Lark is most likely following a ________ strategy.

Accepted Answer

A)  local marketing 
B)  market development 
C)  diversification 
D)  product adaptation 
E)  product development 
A)  local marketing 
B)  market development 
C)  diversification 
D)  product adaptation 
E)  product development

Question 8

Ravenshaw Corp. assigns its sales and marketing people to specific countries, regions, and districts. Ravenshaw Corp. is most likely an example of a ________.

Accepted Answer

A)  geographic organization 
B)  product organization 
C)  functional organization 
D)  niche marketer 
E)  mass marketer 
A)  geographic organization 
B)  product organization 
C)  functional organization 
D)  niche marketer 
E)  mass marketer

Question 9

Which of the following Ps in the marketing mix describes the goods-and-services combination the company offers to the target market?

Accepted Answer

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

Question 10

Which of the following is a portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification?

Accepted Answer

A)  BCG matrix 
B)  analysis of variance 
C)  product/market expansion grid 
D)  Harris matrix 
E)  SWOT analysis 
A)  BCG matrix 
B)  analysis of variance 
C)  product/market expansion grid 
D)  Harris matrix 
E)  SWOT analysis

Question 11

Which of the following is true with regard to a market segment?

Accepted Answer

A)  A market segment consists of consumers with dissimilar needs and preferences. 
B)  A market segment consists of consumers who respond in a similar way to a given set of marketing efforts. 
C)  Very few markets have segments. 
D)  Dividing the market into segments decreases the efficiency of the selling process. 
E)  Dividing the market into segments reduces composite demand. 
A)  A market segment consists of consumers with dissimilar needs and preferences. 
B)  A market segment consists of consumers who respond in a similar way to a given set of marketing efforts. 
C)  Very few markets have segments. 
D)  Dividing the market into segments decreases the efficiency of the selling process. 
E)  Dividing the market into segments reduces composite demand.

Question 12

The most common form of marketing organization is the ________ organization. Under this organization, an operational specialist heads different marketing activities.

Accepted Answer

A)  geographic 
B)  product management 
C)  functional 
D)  customer management 
E)  market 
A)  geographic 
B)  product management 
C)  functional 
D)  customer management 
E)  market

Question 13

The process of evaluating each market segment's attractiveness and selecting one or more segments to enter is known as ________.

Accepted Answer

A)  market segmentation 
B)  diversification 
C)  market targeting 
D)  prospecting 
E)  downsizing 
A)  market segmentation 
B)  diversification 
C)  market targeting 
D)  prospecting 
E)  downsizing

Question 14

The four marketing management functions are analysis, planning, implementation, and control.

Accepted Answer

A) True 
 B)False

Question 15

Alpha Motors offers "Green automobiles for a greener world." This refers to the ________ of Alpha automobiles.

Accepted Answer

A)  brand resonance 
B)  position 
C)  brand equity 
D)  pleasure value 
E)  added value 
A)  brand resonance 
B)  position 
C)  brand equity 
D)  pleasure value 
E)  added value

Question 16

Return on marketing investment refers to the net return from a marketing investment divided by the costs of the marketing investment.

Accepted Answer

A) True 
 B)False

Question 17

________ analysis is an overall evaluation of the company's strengths, weaknesses, opportunities, and threats.

Accepted Answer

A)  Porter's five forces 
B)  A breakeven 
C)  A regression 
D)  A SWOT 
E)  A cluster 
A)  Porter's five forces 
B)  A breakeven 
C)  A regression 
D)  A SWOT 
E)  A cluster

Question 18

Most standard portfolio analysis methods evaluate SBUs on the ________.

Accepted Answer

A)  potential for niche or global marketing 
B)  degree of product differentiation 
C)  strength of the market or industry position 
D)  accessibility to rural markets 
E)  number of successful business acquisitions 
A)  potential for niche or global marketing 
B)  degree of product differentiation 
C)  strength of the market or industry position 
D)  accessibility to rural markets 
E)  number of successful business acquisitions

Question 19

________ 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 20

Which of the following is true with regard to the product/expansion grid?

Accepted Answer

A)  It classifies SBUs into four distinct categories. 
B)  It is a useful device for identifying growth opportunities. 
C)  It helps companies analyze their internal strengths and weaknesses. 
D)  It functions on the premise that firms should downsize to regain market share. 
E)  It is a useful device for segregating customers into distinct categories. 
A)  It classifies SBUs into four distinct categories. 
B)  It is a useful device for identifying growth opportunities. 
C)  It helps companies analyze their internal strengths and weaknesses. 
D)  It functions on the premise that firms should downsize to regain market share. 
E)  It is a useful device for segregating customers into distinct categories.

What is a marketing strategy? How do marketing strategies help firms?

A product's position is the place it occupies relative to competitors' products in consumers' minds.

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

Which of the following is true with regard to geographic organization?

Emerson Studios has designed its marketing organization along the lines of a ________ organization in which operational specialists head different marketing activities.

Lark Inc., an American electronics company, is currently reviewing new geographical markets to sell its highly popular televisions. By 2020, it plans to open new stores across all the major South Asian cities. Lark is most likely following a ________ strategy.

Ravenshaw Corp. assigns its sales and marketing people to specific countries, regions, and districts. Ravenshaw Corp. is most likely an example of a ________.

Which of the following Ps in the marketing mix describes the goods-and-services combination the company offers to the target market?

Which of the following is a portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification?

Which of the following is true with regard to a market segment?

The most common form of marketing organization is the ________ organization. Under this organization, an operational specialist heads different marketing activities.

The process of evaluating each market segment's attractiveness and selecting one or more segments to enter is known as ________.

The four marketing management functions are analysis, planning, implementation, and control.

Alpha Motors offers "Green automobiles for a greener world." This refers to the ________ of Alpha automobiles.

Return on marketing investment refers to the net return from a marketing investment divided by the costs of the marketing investment.

________ analysis is an overall evaluation of the company's strengths, weaknesses, opportunities, and threats.

Most standard portfolio analysis methods evaluate SBUs on the ________.

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

Which of the following is true with regard to the product/expansion grid?

Marketing: Creating Customer Value and Engagement

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and 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

Engaging Customers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

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

What is a marketing strategy? How do marketing strategies help firms?

A product's position is the place it occupies relative to competitors' products in consumers' minds.

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

Which of the following is true with regard to geographic organization?

Emerson Studios has designed its marketing organization along the lines of a ________ organization in which operational specialists head different marketing activities.

Lark Inc., an American electronics company, is currently reviewing new geographical markets to sell its highly popular televisions. By 2020, it plans to open new stores across all the major South Asian cities. Lark is most likely following a ________ strategy.

Ravenshaw Corp. assigns its sales and marketing people to specific countries, regions, and districts. Ravenshaw Corp. is most likely an example of a ________.

Which of the following Ps in the marketing mix describes the goods-and-services combination the company offers to the target market?

Which of the following is a portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification?

Which of the following is true with regard to a market segment?

The most common form of marketing organization is the ________ organization. Under this organization, an operational specialist heads different marketing activities.

The process of evaluating each market segment's attractiveness and selecting one or more segments to enter is known as ________.

The four marketing management functions are analysis, planning, implementation, and control.

Alpha Motors offers "Green automobiles for a greener world." This refers to the ________ of Alpha automobiles.

Return on marketing investment refers to the net return from a marketing investment divided by the costs of the marketing investment.

________ analysis is an overall evaluation of the company's strengths, weaknesses, opportunities, and threats.

Most standard portfolio analysis methods evaluate SBUs on the ________.

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

Which of the following is true with regard to the product/expansion grid?

Marketing: Creating Customer Value and Engagement

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and 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

Engaging Customers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters