Question 1

Realizing that consumers have begun to seek vehicles that use less gasoline,Toyota heavily promotes its hybrid automobiles to capitalize on this ____ while the strategic window is open.

Accepted Answer

A)  marketing mix 
B)  market opportunity 
C)  objective 
D)  requirement 
E)  goal

Question 2

Because of its highly efficient and low-cost distribution system,Walmart has a ____ advantage over Kmart.

Accepted Answer

A)  nonsustainable competitive 
B)  sustainable marketing 
C)  sustainable control 
D)  sustainable implementation 
E)  sustainable competitive

Question 3

Key factors in determining the best organizational structure for a marketing unit are the

Accepted Answer

A)  preferences of top management. 
B)  fiscal resources of the firm. 
C)  number of employees. 
D)  diversity of the firm's products and the characteristics and needs of the people in the target market. 
E)  skill levels of employees.

Question 4

Marketing mix decisions must have two characteristics: consistency and timeliness.

Accepted Answer

A) True 
 B)False

Question 5

The director of marketing for 3M tapes tells the rest of the management team,"When it comes to our transparent packaging tape unit,our strategy will be to use funds generated here to support our venture in the industrial bonding market." This strategy indicates that the packaging tape unit falls into which one of the following classifications?

Accepted Answer

A)  Problem child 
B)  Star 
C)  Cash cow 
D)  Dog 
E)  Question mark

Question 6

Sometimes the information required to control marketing activities is available but too costly.

Accepted Answer

A) True 
 B)False

Question 7

John Deere's strong name recognition and solid customer demand for its farm and garden equipment are two elements of the firm's

Accepted Answer

A)  strengths. 
B)  opportunities. 
C)  weaknesses. 
D)  threats. 
E)  strategies.

Question 8

If you were a marketing manager,under which type of organizational structure would you most likely be working if your firm were a large business with centralized marketing operations?

Accepted Answer

A)  Organization by type of customer 
B)  Organization by function 
C)  Organization by regions 
D)  Organization by products and regions 
E)  Organization by products

Question 9

Organizing a marketing unit by regions works well for a company that

Accepted Answer

A)  produces and markets diverse products. 
B)  is small and has a centralized marketing operation. 
C)  markets products throughout the nation. 
D)  has several groups of customers whose needs and problems are different. 
E)  offers specialized marketing mixes for different products.

Question 10

Jason,a 17-year old high school student,wants to buy a pack of Marlboro Lights.He has the money to purchase them,but he is still not considered to be a market for the product due to his lack of ____ to buy.

Accepted Answer

A)  ability 
B)  willingness 
C)  authority 
D)  need 
E)  location

Question 11

Marketing managers at Consolidated Equipment Corporation are involved in establishing marketing performance standards,evaluating performance,and reducing the differences between actual and desired performance.These marketing managers are engaged in

Accepted Answer

A)  the systems design process. 
B)  the marketing control process. 
C)  marketing systems design. 
D)  the marketing audit. 
E)  marketing evaluation.

Question 12

When an organization attempts to control its marketing activities,it may find it difficult to

Accepted Answer

A)  determine their effect on sales volume. 
B)  use the information it collects. 
C)  obtain the necessary information. 
D)  get the accounting department to cooperate. 
E)  develop a marketing plan.

Question 13

Use the following to answer the questions.
EXperience Limited is a company which offers tours and vacations that include participation in an extreme sport,such as hang-gliding,bungee jumping,skydiving,and motocross.Adrian Moss,EXperience Limited's owner,has just finished developing the strategic plan,including marketing objective of growing his customer base by 15% during the coming year.He believes that the best way of reaching that objective is to promote to the college-aged student.In the past,the majority of his sales have been to males under the age of 29,participating in hang-gliding and bungee jumping at various tourist locations.He wants to expand his skydiving and motocross tours,but isn't sure whether or not the expansion will be profitable.He currently has a database containing all the customers who have gone on a hang-gliding or bungee jumping vacation with his company.
-Refer to Scenario 2.2.The college-aged student represents EXperience Limited's ____,and the tours its operates represent the ____ element of the marketing mix.

Accepted Answer

A)  target market; distribution 
B)  customer relationships; distribution 
C)  cash cow; product 
D)  cash cow; distribution 
E)  target market; product

Question 14

The reputation and well-known brand name of Rolex watches represents a ____ for Rolex.

Accepted Answer

A)  competitive advantage 
B)  core competency 
C)  market opportunity 
D)  strategic window 
E)  pricing strategy

Question 15

Which of the following is false with regard to customer lifetime value?

Accepted Answer

A)  It is a key measurement that forecasts a customer's lifetime economic contribution based on continued relationship marketing efforts. 
B)  It can be calculated by taking the sum of the customer's present value contributions to profit margins over a specific timeframe. 
C)  It includes not only an individual's propensity to engage in purchases but also his or her strong word-of-mouth communication about the firm's products. 
D)  All customers have equal value to a firm. 
E)  It is the only gauge that incorporates revenue,expense,and customer behavior and adopts a customer-centric approach.

Question 16

A firm that wants to put more senior management personnel into the field,to get closer to customers,and to enable the company to respond more quickly and efficiently to competitors would probably organize its marketing unit on the basis of

Accepted Answer

A)  functions. 
B)  regions. 
C)  customer types. 
D)  markets. 
E)  products.

Question 17

What is internal marketing? Why is it helpful for a firm to initiate an internal marketing program?

Accepted Answer

The answer of What is internal marketing? Why is it...

Question 18

A firm's unique symbols,personalities,and philosophies comprise its

Accepted Answer

A)  corporate persona. 
B)  corporate identity. 
C)  corporate character. 
D)  CEO's identity. 
E)  ethics.

Question 19

Procter & Gamble,like many firms in the consumer packaged-goods industry,is organized by

Accepted Answer

A)  function. 
B)  product. 
C)  region. 
D)  types of customers. 
E)  subregion.

Question 20

The concept of customer lifetime value includes only the customer's likelihood to engage in purchases.

Accepted Answer

A) True 
 B)False

Exam 2: Developing and Implementing Marketing Strategies

Realizing that consumers have begun to seek vehicles that use less gasoline,Toyota heavily promotes its hybrid automobiles to capitalize on this ____ while the strategic window is open.

Because of its highly efficient and low-cost distribution system,Walmart has a ____ advantage over Kmart.

Key factors in determining the best organizational structure for a marketing unit are the

Marketing mix decisions must have two characteristics: consistency and timeliness.

Sometimes the information required to control marketing activities is available but too costly.

John Deere's strong name recognition and solid customer demand for its farm and garden equipment are two elements of the firm's

If you were a marketing manager,under which type of organizational structure would you most likely be working if your firm were a large business with centralized marketing operations?

Organizing a marketing unit by regions works well for a company that

Jason,a 17-year old high school student,wants to buy a pack of Marlboro Lights.He has the money to purchase them,but he is still not considered to be a market for the product due to his lack of ____ to buy.

Marketing managers at Consolidated Equipment Corporation are involved in establishing marketing performance standards,evaluating performance,and reducing the differences between actual and desired performance.These marketing managers are engaged in

When an organization attempts to control its marketing activities,it may find it difficult to

The reputation and well-known brand name of Rolex watches represents a ____ for Rolex.

Which of the following is false with regard to customer lifetime value?

A firm that wants to put more senior management personnel into the field,to get closer to customers,and to enable the company to respond more quickly and efficiently to competitors would probably organize its marketing unit on the basis of

What is internal marketing? Why is it helpful for a firm to initiate an internal marketing program?

A firm's unique symbols,personalities,and philosophies comprise its

Procter & Gamble,like many firms in the consumer packaged-goods industry,is organized by

The concept of customer lifetime value includes only the customer's likelihood to engage in purchases.