Question 1

Personal selling, mass selling, and sales promotion are all included in the Promotion area of the marketing mix.

Accepted Answer

A) True 
 B)False  True

Question 2

"Product" is NOT concerned with:

Accepted Answer

A)  quality level. 
B)  branding. 
C)  wholesale price. 
D)  packaging. 
E)  warranty. 
A)  quality level. 
B)  branding. 
C)  wholesale price. 
D)  packaging. 
E)  warranty. C

Question 3

When a firm tries to increase sales by offering new or improved products to its present markets, this is called "product development."

Accepted Answer

A) True 
 B)False  True

Question 4

Professional Dental Supply has been successfully selling dental instruments to dentists for the past twenty years, and has developed strong customer relations. When looking for new marketing opportunities, Professional Dental Supply will most likely look first at

Accepted Answer

A)  market penetration. 
B)  diversification. 
C)  market development. 
D)  product development. 
E)  They will look at all opportunities equally. 
A)  market penetration. 
B)  diversification. 
C)  market development. 
D)  product development. 
E)  They will look at all opportunities equally.

Question 5

"Promotion" may include:

Accepted Answer

A)  personal selling to channel members. 
B)  point-of-purchase materials. 
C)  mail-order selling. 
D)  advertising on the Internet. 
E)  all of the above. 
A)  personal selling to channel members. 
B)  point-of-purchase materials. 
C)  mail-order selling. 
D)  advertising on the Internet. 
E)  all of the above.

Question 6

When a firm tries to increase sales by selling its present products in new markets, this is called:

Accepted Answer

A)  product development. 
B)  diversification. 
C)  market penetration. 
D)  mass marketing. 
E)  market development. 
A)  product development. 
B)  diversification. 
C)  market penetration. 
D)  mass marketing. 
E)  market development.

Question 7

A channel of distribution must include several kinds of intermediaries and collaborators.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is NOT a Product-area decision?

Accepted Answer

A)  Quality level. 
B)  Market exposure. 
C)  Instructions. 
D)  Packaging. 
E)  Branding. 
A)  Quality level. 
B)  Market exposure. 
C)  Instructions. 
D)  Packaging. 
E)  Branding.

Question 9

Strategic planning is a top management job that includes planning only for marketing.

Accepted Answer

A) True 
 B)False

Question 10

A marketing plan and a marketing strategy mean the same thing.

Accepted Answer

A) True 
 B)False

Question 11

One of the strategic policies of camera maker, Zoom Cameras, states: "We will communicate the key benefits and value of our camera's unique zoom lenses and demonstrate how they meet customer needs." This policy best fits which marketing mix decision area?

Accepted Answer

A)  Product 
B)  Place 
C)  Promotion 
D)  Price 
E)  People 
A)  Product 
B)  Place 
C)  Promotion 
D)  Price 
E)  People

Question 12

"Breakthrough opportunities" are opportunities that:

Accepted Answer

A)  help innovators develop hard-to-copy marketing strategies. 
B)  may be turned into marketing strategies that will be profitable for a long time. 
C)  help the firm develop a "competitive advantage." 
D)  help a firm satisfy customers better than some competitor. 
E)  All of the above. 
A)  help innovators develop hard-to-copy marketing strategies. 
B)  may be turned into marketing strategies that will be profitable for a long time. 
C)  help the firm develop a "competitive advantage." 
D)  help a firm satisfy customers better than some competitor. 
E)  All of the above.

Question 13

Which of the following statements is True regarding international opportunities in marketing?

Accepted Answer

A)  There is no need to consider international opportunities when the domestic market is prosperous. 
B)  International trade is decreasing worldwide. 
C)  A product with slow sales growth in a domestic market may experience faster growth in another country. 
D)  Only large firms can engage in international marketing. 
E)  All of the above. 
A)  There is no need to consider international opportunities when the domestic market is prosperous. 
B)  International trade is decreasing worldwide. 
C)  A product with slow sales growth in a domestic market may experience faster growth in another country. 
D)  Only large firms can engage in international marketing. 
E)  All of the above.

Question 14

The customer equity concept

Accepted Answer

A)  encourages a manager to consider both the costs and the revenue from a marketing strategy. 
B)  recognizes that customers are satisfied at a cost--and it is basically an estimate of a firm's future earnings. 
C)  applies even to firms that pursue several different strategies. 
D)  focuses on earnings as well as sales. 
E)  all of the above. 
A)  encourages a manager to consider both the costs and the revenue from a marketing strategy. 
B)  recognizes that customers are satisfied at a cost--and it is basically an estimate of a firm's future earnings. 
C)  applies even to firms that pursue several different strategies. 
D)  focuses on earnings as well as sales. 
E)  all of the above.

Question 15

A S.W.O.T. analysis includes:

Accepted Answer

A)  strengths. 
B)  weaknesses. 
C)  opportunities. 
D)  threats. 
E)  all of the above. 
A)  strengths. 
B)  weaknesses. 
C)  opportunities. 
D)  threats. 
E)  all of the above.

Question 16

Although the customer should be the target of all marketing efforts, customers are not part of a marketing mix.

Accepted Answer

A) True 
 B)False

Question 17

The marketing mix

Accepted Answer

A)  includes four variables -- People, Place, Promotion, and Price. 
B)  includes the target market. 
C)  helps to organize the marketing strategy decision areas. 
D)  includes four variables -- advertising, personal selling, customer service, and sales promotion. 
E)  does not focus on target customers. 
A)  includes four variables -- People, Place, Promotion, and Price. 
B)  includes the target market. 
C)  helps to organize the marketing strategy decision areas. 
D)  includes four variables -- advertising, personal selling, customer service, and sales promotion. 
E)  does not focus on target customers.

Question 18

When Herbal Essences tries to get shelf space in Target and Walmart because young women frequently shop there for hair care products, this is an example of which of the 4Ps?

Accepted Answer

A)  Price 
B)  Product 
C)  Promotion 
D)  Place 
A)  Price 
B)  Product 
C)  Promotion 
D)  Place

Question 19

Planning, implementation, and control are basic jobs of all managers.

Accepted Answer

A) True 
 B)False

Question 20

The main difference between a "marketing strategy" and a "marketing plan" is that:

Accepted Answer

A)  time-related details are included in a marketing plan. 
B)  a marketing plan includes several marketing strategies. 
C)  a marketing strategy provides more detail. 
D)  a marketing strategy omits pricing plans. 
E)  a marketing plan does not include a target market. 
A)  time-related details are included in a marketing plan. 
B)  a marketing plan includes several marketing strategies. 
C)  a marketing strategy provides more detail. 
D)  a marketing strategy omits pricing plans. 
E)  a marketing plan does not include a target market.

Exam 2: Marketing Strategy Planning

Personal selling, mass selling, and sales promotion are all included in the Promotion area of the marketing mix.

"Product" is NOT concerned with:

When a firm tries to increase sales by offering new or improved products to its present markets, this is called "product development."

Professional Dental Supply has been successfully selling dental instruments to dentists for the past twenty years, and has developed strong customer relations. When looking for new marketing opportunities, Professional Dental Supply will most likely look first at

"Promotion" may include:

When a firm tries to increase sales by selling its present products in new markets, this is called:

A channel of distribution must include several kinds of intermediaries and collaborators.

Which of the following is NOT a Product-area decision?

Strategic planning is a top management job that includes planning only for marketing.

A marketing plan and a marketing strategy mean the same thing.

One of the strategic policies of camera maker, Zoom Cameras, states: "We will communicate the key benefits and value of our camera's unique zoom lenses and demonstrate how they meet customer needs." This policy best fits which marketing mix decision area?

"Breakthrough opportunities" are opportunities that:

Which of the following statements is True regarding international opportunities in marketing?

The customer equity concept

A S.W.O.T. analysis includes:

Although the customer should be the target of all marketing efforts, customers are not part of a marketing mix.

The marketing mix

When Herbal Essences tries to get shelf space in Target and Walmart because young women frequently shop there for hair care products, this is an example of which of the 4Ps?

Planning, implementation, and control are basic jobs of all managers.

The main difference between a "marketing strategy" and a "marketing plan" is that:

Marketings Value to Consumers, Firms, and Society

Evaluating Opportunities in the Changing Marketing Environment

Focusing Marketing Strategy With Segmentation and Positioning

Demographic Dimensions of Global Consumer Markets

Final Consumers and Their Buying Behavior

Business and Organizational Customers and Their Buying Behavior

Improving Decisions With Marketing Information

Elements of Product Planning for Goods and Services

Product Management and New-Product Development

Place and Development of Channel Systems

Distribution Customer Service and Logistics

Retailers,wholesalers,and Their Strategy Planning

Promotion-Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

Implementing and Controlling Marketing Plans: Evolution and Revolution

Managing Marketings Link With Other Functional Areas

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Economics Fundamentals

Marketing Arithmetic

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