Question 1

Which of the following best describes the functional organizational format of marketing departments?

Accepted Answer

A) A company creates large teams, or even whole divisions, to serve large customers. 
B) Market managers are responsible for developing marketing strategies and plans for their specific markets or customers and the company is organized around the needs of specific customer segments. 
C) A product manager develops and implements a complete strategy and marketing program for a specific product or brand. 
D) Sales and marketing people are assigned to specific countries, regions, and districts. 
E) Different marketing activities are headed by specialists such as a sales manager, an advertising manager, a marketing research manager, or a customer-service manager. 
A) A company creates large teams, or even whole divisions, to serve large customers. 
B) Market managers are responsible for developing marketing strategies and plans for their specific markets or customers and the company is organized around the needs of specific customer segments. 
C) A product manager develops and implements a complete strategy and marketing program for a specific product or brand. 
D) Sales and marketing people are assigned to specific countries, regions, and districts. 
E) Different marketing activities are headed by specialists such as a sales manager, an advertising manager, a marketing research manager, or a customer-service manager.

Question 2

In the marketing mix,place refers to activities that communicate the merits of the product and persuade target customers to buy it.

Accepted Answer

A) True 
 B)False

Question 3

In the BCG growth-share matrix,stars refer to ________.

Accepted Answer

A) products with a low market share in a niche market 
B) products with a low relative market share in a market with high growth prospects 
C) products that have a greater market share than all their competitors combined in a saturated market 
D) products with a high market share in a market with a high growth rate 
E) products with a low market share in a market that is set to decrease significantly 
A) products with a low market share in a niche market 
B) products with a low relative market share in a market with high growth prospects 
C) products that have a greater market share than all their competitors combined in a saturated market 
D) products with a high market share in a market with a high growth rate 
E) products with a low market share in a market that is set to decrease significantly

Question 4

How do organizations carry out marketing control?

Accepted Answer

Because many surprises occur during the

Question 5

Omni Healthcare's analgesic drug Cetaprin has a 40% share in the analgesics market in Terrania.Its closest competitor,Febex,has a 25% share in the market,while three other drugs split the remainder.Which of the following would most indicate that Cetaprin would be classified as a star according to the BCG matrix?

Accepted Answer

A) Cetaprin is priced higher than other similar products in the market. 
B) A customer survey revealed that Cetaprin has the highest brand-name recognition of any analgesic in the market. 
C) The demand for analgesic drugs in the Terranian market is expected to remain stable. 
D) Febex is rapidly gaining market share over Cetaprin as a result of aggressive marketing efforts. 
E) The Terranian market for healthcare products is expanding rapidly. 
A) Cetaprin is priced higher than other similar products in the market. 
B) A customer survey revealed that Cetaprin has the highest brand-name recognition of any analgesic in the market. 
C) The demand for analgesic drugs in the Terranian market is expected to remain stable. 
D) Febex is rapidly gaining market share over Cetaprin as a result of aggressive marketing efforts. 
E) The Terranian market for healthcare products is expanding rapidly.

Question 6

When divesting a particular strategic business unit,a company ________.

Accepted Answer

A) focuses on gaining short-term cash flow regardless of long-term concerns 
B) invests more in the business unit to build its market share 
C) sells off or phases out the strategic business unit 
D) invests just enough in the strategic business unit to keep its market share at the current level 
E) gradually increases investment in the strategic business unit over time, to maximize profits 
A) focuses on gaining short-term cash flow regardless of long-term concerns 
B) invests more in the business unit to build its market share 
C) sells off or phases out the strategic business unit 
D) invests just enough in the strategic business unit to keep its market share at the current level 
E) gradually increases investment in the strategic business unit over time, to maximize profits

Question 7

Which of the following is true of company mission statements?

Accepted Answer

A) Mission statements should be defined in terms of satisfying customer needs. 
B) A firm's mission statement should be product-oriented, focusing on the products the company sells. 
C) Mission statements should not be specific, as this reduces the company's potential for growth. 
D) A company mission statement should be directed at the company's publics rather than at its employees. 
E) Mission statements should focus both on the company's product as well as the technology used to produce it. 
A) Mission statements should be defined in terms of satisfying customer needs. 
B) A firm's mission statement should be product-oriented, focusing on the products the company sells. 
C) Mission statements should not be specific, as this reduces the company's potential for growth. 
D) A company mission statement should be directed at the company's publics rather than at its employees. 
E) Mission statements should focus both on the company's product as well as the technology used to produce it.

Question 8

RTF Developers is a construction company with a presence in several countries.The company currently organizes its marketing department using a functional system of organization,but this seems inefficient.Explain why a geographic system of organization would benefit the company more than a functional system.

Accepted Answer

(Students' answers may vary.)
Under a fu

Question 9

In a SWOT analysis,________ refer to external factors that the company may be able to exploit to its advantage.

Accepted Answer

A) strengths 
B) strategies 
C) weaknesses 
D) opportunities 
E) controls 
A) strengths 
B) strategies 
C) weaknesses 
D) opportunities 
E) controls

Question 10

Starbucks has introduced a debit card that lets its customers prepay for coffee and snacks.This effort by Starbucks management is an example of ________.

Accepted Answer

A) market development 
B) product development 
C) diversification 
D) market penetration 
E) product adaptation 
A) market development 
B) product development 
C) diversification 
D) market penetration 
E) product adaptation

Question 11

________ involves looking at whether a company's basic strategies are well matched to its opportunities.

Accepted Answer

A) Operating control 
B) Task control 
C) Agency control 
D) Strategic control 
E) Clan control 
A) Operating control 
B) Task control 
C) Agency control 
D) Strategic control 
E) Clan control

Question 12

In the marketing mix,product means the tangible goods the company offers to the target market,while promotions include the services offered.

Accepted Answer

A) True 
 B)False

Question 13

Greyzone,a company that creates customized furniture,is based in Terrania,but is looking to enter other countries as well.The company identifies the country of Nyevka as a good option,as the entry barriers to new companies are low.Which of the following would most indicate that Greyzone is following a diversification strategy?

Accepted Answer

A) As the lifestyles of the people in the two countries are similar, Greyzone did not need to modify its products in the new market. 
B) Greyzone leaves the Terranian market entirely in order to establish itself in the Nyevkan market. 
C) Noting that Nyevka lacks well-established suppliers of office equipment, Greyzone begins to supply these products. 
D) Greyzone manufactures furniture in Terrania itself, and ships it to Nyevka without setting up outlets in Nyevka. 
E) Noting that the production costs would be lower in Nyevka, Greyzone shifts its production operations entirely to Nyevka. 
A) As the lifestyles of the people in the two countries are similar, Greyzone did not need to modify its products in the new market. 
B) Greyzone leaves the Terranian market entirely in order to establish itself in the Nyevkan market. 
C) Noting that Nyevka lacks well-established suppliers of office equipment, Greyzone begins to supply these products. 
D) Greyzone manufactures furniture in Terrania itself, and ships it to Nyevka without setting up outlets in Nyevka. 
E) Noting that the production costs would be lower in Nyevka, Greyzone shifts its production operations entirely to Nyevka.

Question 14

What are the four types of SBUs defined by the growth-share matrix?

Accepted Answer

The growth-share matrix defines four typ

Question 15

In the four Ps of the marketing mix,promotion refers solely to advertising.

Accepted Answer

A) True 
 B)False

Question 16

The four Ps concept takes the seller's view of the market.

Accepted Answer

A) True 
 B)False

Question 17

Acme Inc.,has modified the production processes of its widgets and gadgets in order to enter the Eastern European market.Acme is likely following a ________ strategy.

Accepted Answer

A) market penetration 
B) market development 
C) diversification 
D) harvesting 
E) product development 
A) market penetration 
B) market development 
C) diversification 
D) harvesting 
E) product development

Question 18

Company growth through starting up or acquiring businesses outside the company's current products and markets is called ________.

Accepted Answer

A) vertical integration 
B) market development 
C) diversification 
D) market penetration 
E) product development 
A) vertical integration 
B) market development 
C) diversification 
D) market penetration 
E) product development

Question 19

Which of the following is included in the "place" component of a company's marketing mix?

Accepted Answer

A) packaging 
B) sales promotion 
C) brand name 
D) inventory 
E) discounts 
A) packaging 
B) sales promotion 
C) brand name 
D) inventory 
E) discounts

Question 20

What does the term "value-delivery network" mean? Explain.

Accepted Answer

For decades,marketers have traditionally

Which of the following best describes the functional organizational format of marketing departments?

In the marketing mix,place refers to activities that communicate the merits of the product and persuade target customers to buy it.

In the BCG growth-share matrix,stars refer to ________.

How do organizations carry out marketing control?

When divesting a particular strategic business unit,a company ________.

Which of the following is true of company mission statements?

In a SWOT analysis,________ refer to external factors that the company may be able to exploit to its advantage.

Starbucks has introduced a debit card that lets its customers prepay for coffee and snacks.This effort by Starbucks management is an example of ________.

________ involves looking at whether a company's basic strategies are well matched to its opportunities.

In the marketing mix,product means the tangible goods the company offers to the target market,while promotions include the services offered.

What are the four types of SBUs defined by the growth-share matrix?

In the four Ps of the marketing mix,promotion refers solely to advertising.

The four Ps concept takes the seller's view of the market.

Acme Inc.,has modified the production processes of its widgets and gadgets in order to enter the Eastern European market.Acme is likely following a ________ strategy.

Company growth through starting up or acquiring businesses outside the company's current products and markets is called ________.

Which of the following is included in the "place" component of a company's marketing mix?

What does the term "value-delivery network" mean? Explain.

Marketing Creating and Capturing Customer Value

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Product,Services,and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Marketing Channels Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

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 best describes the functional organizational format of marketing departments?

In the marketing mix,place refers to activities that communicate the merits of the product and persuade target customers to buy it.

In the BCG growth-share matrix,stars refer to ________.

How do organizations carry out marketing control?

When divesting a particular strategic business unit,a company ________.

Which of the following is true of company mission statements?

In a SWOT analysis,________ refer to external factors that the company may be able to exploit to its advantage.

Starbucks has introduced a debit card that lets its customers prepay for coffee and snacks.This effort by Starbucks management is an example of ________.

________ involves looking at whether a company's basic strategies are well matched to its opportunities.

In the marketing mix,product means the tangible goods the company offers to the target market,while promotions include the services offered.

What are the four types of SBUs defined by the growth-share matrix?

In the four Ps of the marketing mix,promotion refers solely to advertising.

The four Ps concept takes the seller's view of the market.

Acme Inc.,has modified the production processes of its widgets and gadgets in order to enter the Eastern European market.Acme is likely following a ________ strategy.

Company growth through starting up or acquiring businesses outside the company's current products and markets is called ________.

Which of the following is included in the "place" component of a company's marketing mix?

What does the term "value-delivery network" mean? Explain.

Marketing Creating and Capturing Customer Value

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Product,Services,and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Marketing Channels Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters