Question 1

Internal marketing refers to the coordination of internal exchanges between an organisation and its employees to achieve successful external exchanges between the firm and its customers.

Accepted Answer

A) True 
 B)False

Question 2

In a traditional organisation, marketing decisions are generally centralised at the top levels of the organisation.

Accepted Answer

A) True 
 B)False

Question 3

A __________ is something that an organisation does extremely well, which may give a company an advantage over its competition.

Accepted Answer

A) benchmark 
B) competitive advantage 
C) core competency 
D) strategic vision 
E) marketing opportunity

Question 4

Australia Post's business units include postal services, retail services, distribution and express services and e-services.The revenues, costs, investments and strategic plans of each __________ can be separated from those of the parent company.

Accepted Answer

A) strategic business 
B) marketing plan 
C) dependent 
D) independent 
E) corporate entity

Question 5

A core competency is something a firm does extremely well - sometimes so well that it gives the company an advantage over its competition.

Accepted Answer

A) True 
 B)False

Question 6

Crown Casino wants at least 90 per cent of its customers to indicate that they had a memorable experience at the hotel.This is an example of:

Accepted Answer

A) implementing the marketing mix. 
B) maintaining their corporate identify. 
C) a marketing objective. 
D) a strategic plan. 
E) a mission statement.

Question 7

A market is a group of individuals and/or organisations that have needs for products in a product class and have the ability, willingness and authority to purchase these products.

Accepted Answer

A) True 
 B)False

Question 8

Using information about customers to create marketing strategies that develop and sustain desirable long-term customer relationships is known as:

Accepted Answer

A) computer resource management. 
B) customer resource management. 
C) customer relationship management. 
D) customer research management. 
E) e-marketing.

Question 9

Which of the following is not a purpose of the marketing plan?

Accepted Answer

A) Communicating internally with employees 
B) Assigning tasks and responsibilities for implementation 
C) Specifying the allocation of resources 
D) Monitoring the performance of a marketing strategy 
E) Serving as a contract with the customer

Question 10

Harley-Davidson's Harley Owners' Group (HOG) helps to foster strong relationships between riders and their motorcycles, giving it a(n) __________ over other motorcycle manufacturers.

Accepted Answer

A) controllable advantage 
B) uncontrollable advantage 
C) sustainable marketing advantage 
D) effective competitive advantage 
E) sustainable competitive advantage

Question 11

Marketing managers can classify a firm's products into four basic types: stars, cash cows, cats and question marks.

Accepted Answer

A) True 
 B)False

Question 12

Performance standards are established as part of the marketing control process.

Accepted Answer

A) True 
 B)False

Question 13

Virgin's low fares, dependability and its on-time flights represent its:

Accepted Answer

A) competitive advantage. 
B) marketing opportunity. 
C) marketing plan. 
D) marketing objectives. 
E) total quality management.

Question 14

Marketing planning establishes an organisational mission and goals, corporate strategy, marketing objectives, marketing strategy and a marketing plan.

Accepted Answer

A) True 
 B)False

Question 15

A marketing plan:

Accepted Answer

A) is characteristic of production-oriented firms and other mass producers. 
B) is a written document that outlines and explains all the activities necessary to implement marketing strategies. 
C) always increases the marketing manager's operating costs. 
D) produces plans that are short term in orientation. 
E) restricts the marketing manager's future options.

Question 16

All marketing mix decisions must have two characteristics:

Accepted Answer

A) consistency and flexibility. 
B) consistency and rigidity. 
C) formality and flexibility. 
D) variability and flexibility. 
E) formality and rigidity.

Question 17

According to the Boston Consulting Group, marketers may classify their products as one of all of the following except:

Accepted Answer

A) dogs. 
B) cash contributors. 
C) question marks. 
D) stars. 
E) cash cows.

Question 18

The __________ is the basis for internal communication among employees.It covers the assignment of responsibilities and tasks, as well as schedules for implementation.It presents objectives and specifies how resources are to be allocated to achieve those objectives.Finally, it helps marketing managers monitor and evaluate the performance of a marketing strategy.

Accepted Answer

A) marketing plan 
B) competitive plan 
C) implementation plan 
D) media schedule 
E) product specification sheet

Question 19

One way that Porsche evaluates its product and service level is by monitoring how well it ranks on various customer service indexes.In doing so, Porsche is:

Accepted Answer

A) controlling marketing activities. 
B) taking corrective action. 
C) empowering its employees. 
D) evaluating actual performance. 
E) setting performance standards.

Question 20

Corporate strategy determines the means for utilising resources in the functional areas of business to reach the organisation's goals.

Accepted Answer

A) True 
 B)False

Exam 3: Planning, Implementing and Evaluating Marketing Strategy

Internal marketing refers to the coordination of internal exchanges between an organisation and its employees to achieve successful external exchanges between the firm and its customers.

In a traditional organisation, marketing decisions are generally centralised at the top levels of the organisation.

A __________ is something that an organisation does extremely well, which may give a company an advantage over its competition.

Australia Post's business units include postal services, retail services, distribution and express services and e-services.The revenues, costs, investments and strategic plans of each __________ can be separated from those of the parent company.

A core competency is something a firm does extremely well - sometimes so well that it gives the company an advantage over its competition.

Crown Casino wants at least 90 per cent of its customers to indicate that they had a memorable experience at the hotel.This is an example of:

A market is a group of individuals and/or organisations that have needs for products in a product class and have the ability, willingness and authority to purchase these products.

Using information about customers to create marketing strategies that develop and sustain desirable long-term customer relationships is known as:

Which of the following is not a purpose of the marketing plan?

Harley-Davidson's Harley Owners' Group (HOG) helps to foster strong relationships between riders and their motorcycles, giving it a(n) __________ over other motorcycle manufacturers.

Marketing managers can classify a firm's products into four basic types: stars, cash cows, cats and question marks.

Performance standards are established as part of the marketing control process.

Virgin's low fares, dependability and its on-time flights represent its:

Marketing planning establishes an organisational mission and goals, corporate strategy, marketing objectives, marketing strategy and a marketing plan.

A marketing plan:

All marketing mix decisions must have two characteristics:

According to the Boston Consulting Group, marketers may classify their products as one of all of the following except:

One way that Porsche evaluates its product and service level is by monitoring how well it ranks on various customer service indexes.In doing so, Porsche is:

Corporate strategy determines the means for utilising resources in the functional areas of business to reach the organisation's goals.