Question 1

The emotional elements of a brand includes:

Accepted Answer

A)  Image 
B)  Personality 
C)  Style 
D)  Evoked feelings 
E)  All of the above.

Question 2

Which is not one of the seven R's of the marketing mix?

Accepted Answer

A)  Resources 
B)  Reliability 
C)  Rate 
D)  Retailer 
E)  Repetitiveness

Question 3

One disadvantage of market segmentation is that it always increases marketing expenses.

Accepted Answer

A) True 
 B)False

Question 4

Marketing strategy is a process that involves which of the following areas of strategy formulation and implementation?

Accepted Answer

A)  Brand strategy 
B)  Market analysis 
C)  Market segmentation 
D)  A and C 
E)  A, B, and C

Question 5

The primary challenge for international marketing programs is to build the core of the marketing strategy on the differences between countries.

Accepted Answer

A) True 
 B)False

Question 6

In the 4 P's that comprise the marketing mix, promotion refers to:

Accepted Answer

A)  advertising and public relations. 
B)  sales promotion. 
C)  price. 
D)  A and B 
E)  A, B and C

Question 7

Cross-cultural analysis is the comparison of similarities and differences in behavioral and physical aspects of cultures.

Accepted Answer

A) True 
 B)False

Question 8

Cultural empathy refers to the ability to understand the inner logic and coherence of other ways of life and refrain from judging other value systems.

Accepted Answer

A) True 
 B)False

Question 9

The ultimate goal of market segmentation is increased customer satisfaction and profitability.

Accepted Answer

A) True 
 B)False

Question 10

A thorough market analysis includes an examination of current and potential competitors.

Accepted Answer

A) True 
 B)False

Question 11

Consumer insight refers to the consumer's understanding of how companies market their products.

Accepted Answer

A) True 
 B)False

Question 12

The term "CLV"stands for Company Lifetime Valuation.

Accepted Answer

A) True 
 B)False

Question 13

For a new product to avoid failure in today's market and be successful it must:

Accepted Answer

A)  satisfy the needs, wants, and objectives of the management team. 
B)  satisfy the objectives of the company's shareholders. 
C)  perform in a manner that is comparable to existing products on the market. 
D)  provide the consumer with all of the benefits and product characteristics offered by the leading competitive brand. 
E)  None of the above.

Question 14

In the 4 P's that comprise the marketing mix, ____ is when the firm decides on the most effective outlets through which to sell their products and how best to get them there.

Accepted Answer

A)  position 
B)  promotion 
C)  product 
D)  place 
E)  location

Question 15

Product is the total bundle of utilities or benefits attained by consumers in the exchange process.

Accepted Answer

A) True 
 B)False

Question 16

Thinking globally requires the ability to understand markets beyond one's own country of origin with respect to:

Accepted Answer

A)  sources of demand 
B)  sources of supply 
C)  methods of effective management and marketing 
D)  A and B 
E)  All of the above.

Question 17

The opposite of market aggregation is mass marketing.

Accepted Answer

A) True 
 B)False

Question 18

Quality, often synonymous with value, is enough to sustain a competitive advantage in today's business environment.

Accepted Answer

A) True 
 B)False

Question 19

Value is:

Accepted Answer

A)  money 
B)  the difference between what consumers give up for a product and what they pay 
C)  the benefits consumers receive from the product 
D)  less than product quality 
E)  None of the above.

Question 20

Today's consumers have less power than those of the last decade.

Accepted Answer

A) True 
 B)False

Exam 2: Creating Marketing Strategies for Customer-Centric Organizations

The emotional elements of a brand includes:

Which is not one of the seven R's of the marketing mix?

One disadvantage of market segmentation is that it always increases marketing expenses.

Marketing strategy is a process that involves which of the following areas of strategy formulation and implementation?

The primary challenge for international marketing programs is to build the core of the marketing strategy on the differences between countries.

In the 4 P's that comprise the marketing mix, promotion refers to:

Cross-cultural analysis is the comparison of similarities and differences in behavioral and physical aspects of cultures.

Cultural empathy refers to the ability to understand the inner logic and coherence of other ways of life and refrain from judging other value systems.

The ultimate goal of market segmentation is increased customer satisfaction and profitability.

A thorough market analysis includes an examination of current and potential competitors.

Consumer insight refers to the consumer's understanding of how companies market their products.

The term "CLV"stands for Company Lifetime Valuation.

For a new product to avoid failure in today's market and be successful it must:

In the 4 P's that comprise the marketing mix, ____ is when the firm decides on the most effective outlets through which to sell their products and how best to get them there.

Product is the total bundle of utilities or benefits attained by consumers in the exchange process.

Thinking globally requires the ability to understand markets beyond one's own country of origin with respect to:

The opposite of market aggregation is mass marketing.

Quality, often synonymous with value, is enough to sustain a competitive advantage in today's business environment.

Value is:

Today's consumers have less power than those of the last decade.