Question 1

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 2

"At Joe's Diner, we serve great burgers" is a product-oriented business definition.

Accepted Answer

A) True 
 B)False

Question 3

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 4

________ are a type of SBU that often require heavy investments to finance their rapid growth.

Accepted Answer

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

Question 5

The marketing mix consists of people, property, planning, and position.

Accepted Answer

A) True 
 B)False

Question 6

Harris Brown, the marketing manager at a small retail chain, wants to assess his firm's strengths, opportunities, weaknesses, and threats. Which of the following would be best suited for his purpose?

Accepted Answer

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

Question 7

A company's broad mission leads to ________.

Accepted Answer

A)  increasing profits and more customers 
B)  increasing sales and decreasing costs 
C)  a higher share price 
D)  a hierarchy of objectives, including business objective and marketing objectives 
E)  increased market share and increasing profitability 
A)  increasing profits and more customers 
B)  increasing sales and decreasing costs 
C)  a higher share price 
D)  a hierarchy of objectives, including business objective and marketing objectives 
E)  increased market share and increasing profitability

Question 8

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

Accepted Answer

Marketing planning involves choosing mar

Question 9

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

Question 10

Crocus, a gift store, specializes in serving customer segments that major competitors overlook and ignore. Which of the following best describes Crocus?

Accepted Answer

A)  market follower 
B)  market challenger 
C)  early adopter 
D)  market nicher 
E)  laggard 
A)  market follower 
B)  market challenger 
C)  early adopter 
D)  market nicher 
E)  laggard

Question 11

Mission statements should ________ and be defined in terms of ________.

Accepted Answer

A)  be technology oriented; meeting the self-actualization needs of customers 
B)  be product oriented; satisfying the esteem needs of customers 
C)  embody the company's short-term plans; current opportunities 
D)  be market oriented; satisfying basic customer needs 
E)  address sales and profits; the net return on investments 
A)  be technology oriented; meeting the self-actualization needs of customers 
B)  be product oriented; satisfying the esteem needs of customers 
C)  embody the company's short-term plans; current opportunities 
D)  be market oriented; satisfying basic customer needs 
E)  address sales and profits; the net return on investments

Question 12

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 13

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 14

The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market. According to the BCG matrix, the pharmaceuticals division of Omni can be classified as a ________.

Accepted Answer

A)  star 
B)  bear 
C)  question mark 
D)  cash cow 
E)  dog 
A)  star 
B)  bear 
C)  question mark 
D)  cash cow 
E)  dog

Question 15

Customers can be grouped and served in various ways based on several factors. These include all of the following EXCEPT ________ factors.

Accepted Answer

A)  psychographic 
B)  behavioral 
C)  technological 
D)  demographic 
E)  geographic 
A)  psychographic 
B)  behavioral 
C)  technological 
D)  demographic 
E)  geographic

Question 16

Which of the following companies has a product-oriented business definition?

Accepted Answer

A)  A luxury hotel, whose business definition is: "We sell out-of-the-world experiences to our guests." 
B)  A real estate company, whose business definition is: "We sell dreams." 
C)  A cosmetic company, whose business definition is: "We offer hope and self-expression." 
D)  A shoe manufacturer, whose business definition is: "We manufacture affordable and long-lasting shoes for all." 
E)  A high-technology company, whose business definition is: "We sell inspirations." 
A)  A luxury hotel, whose business definition is: "We sell out-of-the-world experiences to our guests." 
B)  A real estate company, whose business definition is: "We sell dreams." 
C)  A cosmetic company, whose business definition is: "We offer hope and self-expression." 
D)  A shoe manufacturer, whose business definition is: "We manufacture affordable and long-lasting shoes for all." 
E)  A high-technology company, whose business definition is: "We sell inspirations."

Question 17

In a SWOT analysis, which of the following would be considered a strength?

Accepted Answer

A)  industry trends 
B)  technological shifts 
C)  environmental demands 
D)  performance challenges 
E)  internal capabilities 
A)  industry trends 
B)  technological shifts 
C)  environmental demands 
D)  performance challenges 
E)  internal capabilities

Question 18

________ provides a complete analysis of the company's situation.

Accepted Answer

A)  A SWOT analysis 
B)  A marketing audit 
C)  Regression analysis 
D)  Return on marketing investment 
E)  Marketing budget evaluation 
A)  A SWOT analysis 
B)  A marketing audit 
C)  Regression analysis 
D)  Return on marketing investment 
E)  Marketing budget evaluation

Question 19

Why should mission statements be market oriented instead of product or technology oriented?

Accepted Answer

Mission statements should be m

Question 20

Each department in a company that carries out value-creating activities can be thought of as a link in the company's ________.

Accepted Answer

A)  channel of intermediaries 
B)  external value stream 
C)  demand chain 
D)  internal value chain 
E)  supplier chain 
A)  channel of intermediaries 
B)  external value stream 
C)  demand chain 
D)  internal value chain 
E)  supplier chain

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

"At Joe's Diner, we serve great burgers" is a product-oriented business definition.

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.

________ are a type of SBU that often require heavy investments to finance their rapid growth.

The marketing mix consists of people, property, planning, and position.

Harris Brown, the marketing manager at a small retail chain, wants to assess his firm's strengths, opportunities, weaknesses, and threats. Which of the following would be best suited for his purpose?

A company's broad mission leads to ________.

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

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

Crocus, a gift store, specializes in serving customer segments that major competitors overlook and ignore. Which of the following best describes Crocus?

Mission statements should and be defined in terms of .

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?

The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market. According to the BCG matrix, the pharmaceuticals division of Omni can be classified as a ________.

Customers can be grouped and served in various ways based on several factors. These include all of the following EXCEPT ________ factors.

Which of the following companies has a product-oriented business definition?

In a SWOT analysis, which of the following would be considered a strength?

________ provides a complete analysis of the company's situation.

Why should mission statements be market oriented instead of product or technology oriented?

Each department in a company that carries out value-creating activities can be thought of as a link in the company's ________.

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 Value-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers 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 Engagement, Value, and Relationships

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

"At Joe's Diner, we serve great burgers" is a product-oriented business definition.

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.

________ are a type of SBU that often require heavy investments to finance their rapid growth.

The marketing mix consists of people, property, planning, and position.

Harris Brown, the marketing manager at a small retail chain, wants to assess his firm's strengths, opportunities, weaknesses, and threats. Which of the following would be best suited for his purpose?

A company's broad mission leads to ________.

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

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

Crocus, a gift store, specializes in serving customer segments that major competitors overlook and ignore. Which of the following best describes Crocus?

Mission statements should ________ and be defined in terms of ________.

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?

The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market. According to the BCG matrix, the pharmaceuticals division of Omni can be classified as a ________.

Customers can be grouped and served in various ways based on several factors. These include all of the following EXCEPT ________ factors.

Which of the following companies has a product-oriented business definition?

In a SWOT analysis, which of the following would be considered a strength?

________ provides a complete analysis of the company's situation.

Why should mission statements be market oriented instead of product or technology oriented?

Each department in a company that carries out value-creating activities can be thought of as a link in the company's ________.

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 Value-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers 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

Mission statements should and be defined in terms of .