Question 1

A marketing manager should

Accepted Answer

A)  know that most consumer complaints do not require a response because the consumer's dissatisfaction is beyond the control of the firm. 
B)  recognize that many consumers who complain are trouble makers and that not much can or should be done about their complaints. 
C)  assume that most customers who are dissatisfied will complain, but that people who are satisfied will be silent. 
D)  be concerned that many of the complaints that are reported are never resolved. 
E)  recognize that a "complaint" box isn't needed if the firm is really market-oriented in the first place. 
A)  know that most consumer complaints do not require a response because the consumer's dissatisfaction is beyond the control of the firm. 
B)  recognize that many consumers who complain are trouble makers and that not much can or should be done about their complaints. 
C)  assume that most customers who are dissatisfied will complain, but that people who are satisfied will be silent. 
D)  be concerned that many of the complaints that are reported are never resolved. 
E)  recognize that a "complaint" box isn't needed if the firm is really market-oriented in the first place.

Question 2

Firms can manipulate consumers to buy anything the company chooses to produce.

Accepted Answer

A) True 
 B)False

Question 3

A market-directed economy

Accepted Answer

A)  ensures that voters and politicians agree which problem has to be solved first. 
B)  concentrates solely on profit generation. 
C)  guarantees that government aid programs are effective. 
D)  spreads income evenly among the population. 
E)  makes efficient use of resources. 
A)  ensures that voters and politicians agree which problem has to be solved first. 
B)  concentrates solely on profit generation. 
C)  guarantees that government aid programs are effective. 
D)  spreads income evenly among the population. 
E)  makes efficient use of resources.

Question 4

A study revealed that when consumers are dissatisfied with a product or an individual business

Accepted Answer

A)  most of their complaints are fully resolved--if they are just reported. 
B)  a majority of their complaints are never reported. 
C)  a marketing manager should just ignore most complaints because they are the result of dealing with consumers. 
D)  All of these alternatives are correct. 
A)  most of their complaints are fully resolved--if they are just reported. 
B)  a majority of their complaints are never reported. 
C)  a marketing manager should just ignore most complaints because they are the result of dealing with consumers. 
D)  All of these alternatives are correct.

Question 5

The legal environment sets the minimum standards of ethical behavior in a society.

Accepted Answer

A) True 
 B)False

Question 6

The cost of environmental damage is now a measured cost of most firms that is passed along to consumers.

Accepted Answer

A) True 
 B)False

Question 7

Flexibility, geographic terms, and allowances are all related to

Accepted Answer

A)  price. 
B)  product. 
C)  promotion. 
D)  place. 
E)  price and product. 
A)  price. 
B)  product. 
C)  promotion. 
D)  place. 
E)  price and product.

Question 8

The monopolistic competition that is typical of the U.S. economy

Accepted Answer

A)  always leads to higher prices, but it may not lead to higher consumer satisfaction. 
B)  is a problem because it does not result in products that reflect consumer's social values. 
C)  is the result of consumer preferences. 
D)  is the result of manipulation of markets by business firms. 
E)  None of these alternatives is correct. 
A)  always leads to higher prices, but it may not lead to higher consumer satisfaction. 
B)  is a problem because it does not result in products that reflect consumer's social values. 
C)  is the result of consumer preferences. 
D)  is the result of manipulation of markets by business firms. 
E)  None of these alternatives is correct.

Question 9

When developing a marketing plan for a new product that is about to enter the market introduction stage of its product life cycle, a marketing manager should:

Accepted Answer

A)  plan to change the marketing strategy every six months. 
B)  choose the best possible marketing strategy and stay with it throughout its product life cycle. 
C)  plan to sell the product until its whole life cycle is over. 
D)  plan to change the marketing strategy as the product moves through its life cycle. 
E)  change the marketing strategy only when the market environment changes. 
A)  plan to change the marketing strategy every six months. 
B)  choose the best possible marketing strategy and stay with it throughout its product life cycle. 
C)  plan to sell the product until its whole life cycle is over. 
D)  plan to change the marketing strategy as the product moves through its life cycle. 
E)  change the marketing strategy only when the market environment changes.

Question 10

A S.W.O.T. analysis can help a marketing manager:

Accepted Answer

A)  develop a competitive advantage. 
B)  define what business and markets the firm wants to compete in. 
C)  narrow down to a specific target market and marketing mix from the many alternatives available. 
D)  see the pros and cons of different possible strategies. 
E)  all of these alternatives are correct. 
A)  develop a competitive advantage. 
B)  define what business and markets the firm wants to compete in. 
C)  narrow down to a specific target market and marketing mix from the many alternatives available. 
D)  see the pros and cons of different possible strategies. 
E)  all of these alternatives are correct.

Question 11

The letters in "S.W.O.T. analysis" are an abbreviation for the first letters of the words "special weapons or tactics."

Accepted Answer

A) True 
 B)False

Question 12

Regarding marketing strategy planning:

Accepted Answer

A)  Managers usually know all they need to know about the needs and attitudes of their target markets. 
B)  Competitors cannot force a firm to shift its marketing mix. 
C)  Changes in the dimensions of the market environment have no effect on a firm's marketing mix. 
D)  The lack of a complete understanding of the target market can make it difficult to combine the four Ps into a suitable marketing mix. 
E)  None of these alternatives is correct. 
A)  Managers usually know all they need to know about the needs and attitudes of their target markets. 
B)  Competitors cannot force a firm to shift its marketing mix. 
C)  Changes in the dimensions of the market environment have no effect on a firm's marketing mix. 
D)  The lack of a complete understanding of the target market can make it difficult to combine the four Ps into a suitable marketing mix. 
E)  None of these alternatives is correct.

Question 13

Use this information to answer the following question that refer to the CPI case. Conservo Products, Inc. (CPI), with annual sales of $200 million, is a well-known producer of a variety of paper products, almost all of which are made from recycled materials. Picnic plates account for about 70 percent of CPI's sales. The rest of the firm's sales come from custom-designed materials--such as box liners and spacers, small boxes, and disposable products--like trays, towels and napkins.
CPI's picnic plates are sold through "sales reps" to grocery wholesalers and retail grocery chains. The sales reps are paid a 5 percent commission on all sales in their assigned territories. They usually handle related--but noncompeting--lines for several other manufacturers. Along with their selling duties, the sales reps help CPI with local advertising and sales promotion efforts. Orders for the custom products are obtained by area managers who are paid a straight salary to call on business and institutional customers. The area managers are trained paper specialists and often help their customers design the products they order.
The picnic plates are priced to give CPI a 90 percent markup on the cost of producing the product--with the cost figured by taking the total factory cost for the previous year and dividing that total cost by the number of units produced and sold during that period. The firm's invoices read "F.O.B.--Delivered" and "1/10, net 30." Customers are allowed to deduct 3 percent from the face value of the invoice for buying plates in carload quantities, and another 2 percent for advertising them locally.
The custom products are sold "F.O.B. mill"--with CPI offering a price for each job. Competition is strong from many other manufacturers who are able to offer very similar products which meet the customers' specifications.
CPI forecasts that sales will increase to $250 million by 2012. However, much of this growth is tied to picnic plates--a market in which the firm has about a 7 percent market share and faces aggressive price competition from many smaller firms with greater brand familiarity. Further, CPI has been late with more than 50 percent of its plate orders due to scheduling conflicts with orders for custom products.
CPI's sales forecasts for picnic plates are not likely to be achieved unless the firm can improve its:

Accepted Answer

A)  pioneering advertising. 
B)  paper coating machines. 
C)  below-average product quality. 
D)  customer service level. 
E)  above-the-market prices. 
A)  pioneering advertising. 
B)  paper coating machines. 
C)  below-average product quality. 
D)  customer service level. 
E)  above-the-market prices.

Question 14

Which of the following statements is true?

Accepted Answer

A)  Research shows that many customers are not satisfied and feel that some companies do not deliver on their promises. 
B)  Research shows that most customers are somewhat satisfied and feel that companies usually deliver on their promises. 
C)  Research shows that most customers are satisfied and feel that companies deliver on their promises. 
A)  Research shows that many customers are not satisfied and feel that some companies do not deliver on their promises. 
B)  Research shows that most customers are somewhat satisfied and feel that companies usually deliver on their promises. 
C)  Research shows that most customers are satisfied and feel that companies deliver on their promises.

A marketing manager should

Firms can manipulate consumers to buy anything the company chooses to produce.

A market-directed economy

A study revealed that when consumers are dissatisfied with a product or an individual business

The legal environment sets the minimum standards of ethical behavior in a society.

The cost of environmental damage is now a measured cost of most firms that is passed along to consumers.

Flexibility, geographic terms, and allowances are all related to

The monopolistic competition that is typical of the U.S. economy

When developing a marketing plan for a new product that is about to enter the market introduction stage of its product life cycle, a marketing manager should:

A S.W.O.T. analysis can help a marketing manager:

The letters in "S.W.O.T. analysis" are an abbreviation for the first letters of the words "special weapons or tactics."

Regarding marketing strategy planning:

Which of the following statements is true?

Marketing39s Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Marketing Environment

Focusing Marketing Strategy With Segmentation and Positioning

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

Economics Fundamentals

Marketing Arithmetic

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Exam 18: Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

A marketing manager should

Firms can manipulate consumers to buy anything the company chooses to produce.

A market-directed economy

A study revealed that when consumers are dissatisfied with a product or an individual business

The legal environment sets the minimum standards of ethical behavior in a society.

The cost of environmental damage is now a measured cost of most firms that is passed along to consumers.

Flexibility, geographic terms, and allowances are all related to

The monopolistic competition that is typical of the U.S. economy

When developing a marketing plan for a new product that is about to enter the market introduction stage of its product life cycle, a marketing manager should:

A S.W.O.T. analysis can help a marketing manager:

The letters in "S.W.O.T. analysis" are an abbreviation for the first letters of the words "special weapons or tactics."

Regarding marketing strategy planning:

Which of the following statements is true?

Marketing39s Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Marketing Environment

Focusing Marketing Strategy With Segmentation and Positioning

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

Economics Fundamentals

Marketing Arithmetic

Filters