This action might not be possible to undo. Are you sure you want to continue?
IMPORTANT NOTICE! ATTENDANCE TO ALL SESSIONS IS A NON-NEGOTIABLE REQUIREMENT! WHEN YOU MISS A CLASS OR A PRESENTATION, IT MAY BE REFLECTED IN YOUR COURSE GRADE!
MULTIPLE CHOICE QUESTIONS (2 Points Each)
1. Marketing is more than _____ and advertising. a. distribution b. promotion c. selling d. pricing e. customer service What does a market-oriented mission statement such as “Connecting People” of Nokia define about the business? a. satisfying basic customer needs b. satisfying basic supplier needs c. satisfying basic stockholder needs d. satisfying basic owner needs e. satisfying basic partnership needs A problem with using the BCG matrix centers around the fact that it is _____ oriented instead of _____ oriented. a. future; now b. now; future c. financially; customer d. customer; supplier e. now; market The fantastic level of CRM is exemplified in a. the movie Mission Impossible b. the movie Star Wars c. the movie Minority Report d. the movie Vanilla Sky e. the movie Bond 007 Wants become demands when _____. a. marketers understand consumer needs b. a consumer’s buying power is sufficient c. they become less desired than needs d. the benefits from buying them equal the cost e. needs cannot be fulfilled You are preparing a combination of products, services, information, and experiences to a market to satisfy needs and wants. What are you preparing? a. value proposition b. demand satisfaction c. tactical plan d. marketing offer e. strategy
Companies normally learn about their competitors’ strengths and weaknesses from all of the following except _____. a. secondary data b. benchmarking c. spying d. by transferring competitor’s employees e. all of the above _____ is the means by which consumers can buy or exchange goods or information directly with one another. a. C2C b. B2B c. C2B d. B2C e. none of the above Some firms define their purpose in narrow product terms. Others that define their company’s purpose in broad social terms follow _____. a. societal marketing b. sense-of-mission marketing c. consumer-oriented marketing d. value marketing e. strategic marketing
10. The selling concept takes a(n) _____ perspective; the marketing concept takes a(n) _____ perspective. a. inside-out; outside-in b. outside-in; inside-out c. customer-driven; inside-out d. customer-driven; inside-out e. outside-in; inside-out 11. As a new assistant marketing manager, you learn in an orientation meeting that _____ are the form human needs take as they are shaped by culture and individual personality. a. wants b. demands c. self-concepts d. desires e. marketing offerings 12. As suggested in the “competitor map” methodology, when Kodak saw Fuji as its major competitor and did not notice Sony, maker of digital cameras, Kodak was experiencing _____. a. market-centered company b. competitor myopia c. market niche d. strategic group e. marketing intelligence 13. Today the four Ps are compared to the four Cs. Product and place are called _____ and _____ respectively. a. convenience; customer solution b. customer cost; convenience c. communication; customer solution d. customer solution; convenience e. communication; convenience 14. The BCG market growth rate provides a measure of _____ in the GE approach. a. business strength b. competitor strength c. industry attractiveness d. market development e. product development
15. Beyond simply retaining good customers, Mr. Sewell aimed at selling all or most cars that his customers will ever buy in their lives. This is an example of a. customer relationship marketing concept. b. share of the customer concept. c. lifetime value concept. d. market share concept. e. TQM concept. 16. Customer value is the difference between the benefits the customer gains from owning and using a product and the _____. a. cost of delivery of the product b. cost of obtaining the product c. cost of competing products d. cost of the lost experience e. price of the product 17. Companies can identify competitors from a _____ point of view. Here they define competitors as companies that are trying to satisfy the same customer need or build relationships with the same customer group. a. product b. market nicher’s c. market d. database e. strategic 18. ABC Company is now using the product/market grid. The owners have found it to be quite useful for identifying _____. a. target markets b. growth opportunities c. key customers d. new products e. suppliers 19. When your firm practices developing and maintaining a strategic fit between your organization’s goals and capabilities, it is forming a(n) _____. a. mission statement b. values statement c. strategic plan d. short-term purpose e. operating plan 20. According to the production concept, consumers will favor products that are _____ and _____. a. satisfying; quality focused b. high-performing; affordable c. in high demand; hard to find d. segmented; convenient e. available; affordable 21. Marketing consists of actions taken to build and maintain desirable _____ with target audiences involving a product, service, idea, or other object. a. exchange transactions b. exchange relationships c. exchange processes d. exchange privileges e. exchange communication
22. A company starts the strategic planning process by defining its overall purpose and _____. a. mission b. values c. vision d. opinions e. strengths 23. Michael Porter suggests certain basic competitive positioning strategies that companies can follow. Which of the following is the losing one? a. middle-of-the-roader b. focus c. overall cost leadership d. differentiation e. market follower 24. A negative side of a _____ is that a company becomes too reactive. Rather than carry out its own customer relationship strategy, it bases its own moves on competitors’ moves. a. competitor-centered company b. customer-centered company c. market-centered company d. competitive marketing strategy e. image-centered company 25. Most firms practice the selling concept when they face _____. a. a crisis b. a recession c. fierce competition d. overcapacity e. marketing planning 26. Engin believes that consumers will not buy enough of the firm’s products unless the firm undertakes pushy efforts. Engin’s firm is practicing the _____. a. production concept b. marketing concept c. selling concept d. relationship concept e. social advertising campaign 27. This form of enlightened marketing requires that a company seek real product and marketing improvements. a. consumer oriented b. innovative c. value d. sense-of-mission e. market oriented 28. A common practice among marketers is to increase sales to current customers without changing their products. What is this practice called? a. market skimming b. market penetration c. market development d. product extension e. production extension 29. Rolex watches is a clear cut example of _____. a. market follower b. direct marketer c. sales promoter d. market nicher e. market analyzer
30. Some firms find themselves in markets with many low-margin customers. As assistant marketing director, what type of CRM would you develop with these customers? a. full partnerships b. basic relationships c. relationship marketing d. key customer marketing e. lifetime value 31. A concern with the four Ps is that it takes the _____ view and not the _____ view. a. buyer’s; seller’s b. broad; narrow c. seller’s; buyer’s d. traditional; modern e. domestic; global 32. Which SBU produces a lot of cash that the company may use to support other SBUs that need investment? a. stars b. cash cows c. question marks d. dogs e. profitable ones 33. Seza attempts to deliver customer satisfaction every day in her home electronics business. She is a smart operator who knows that the key to this goal is to match _____ with _____. a. customer expectations; competitive prices b. company performance; competitive c. customer expectations; company performance d. company performance; unique products e. relationship building; promotional tools 34. What do we call the collection of businesses and products that make up the company? a. diversification b. industry c. business portfolio d. departments e. business markets 35. To gain _____ requires delivering more value and satisfaction to target consumers than competitors do. a. competitive advantage b. competitor analysis c. benchmarking d. market-centered company e. positioning 36. Successful organizations base their missions on their _____. a. distinctive competencies b. strategic plans c. long-term goals d. values statements e. value propositions 37. We can safely say that when a customer’s purchase lives up to his or her expectations, the customer is experiencing this state of being. a. customer value b. self-esteem c. self-actualization d. customer satisfaction e. delight
38. Which word is missing from the following statement? Marketers need to _____, create, communicate, and deliver real value to customers. a. find b. define c. explore d. seek e. construct 39. Approaches to marketing strategy and practice often pass through certain stages. Which is NOT one of these stages? a. entrepreneurial marketing b. extrapreneurial marketing c. formulated marketing d. intrapreneurial marketing e. all of the above are stages 40. In today’s marketplace, competition has shifted away from individual competition between companies to competition among the entire _____. a. value-delivery network b. industry c. market d. global market e. segment 41. You will learn that marketing ultimately involves attracting, keeping, and _____ profitable customers. a. tracking b. placing in a database c. growing d. satisfying e. maintaining 42. Marketing organizations find it necessary at times to limit demand by reducing the number of customers or to shift their demand temporarily or permanently. Name the term for this type of action. a. debugging b. deregulation c. demarketing d. gray marketing e. integration 43. ABC Corporation realizes that they need partners to go beyond supply chain management. What do we call this association? a. strategic alliances b. strategic planning c. partnering d. mutual reciprocity e. reengineering 44. Zeynep works hard with her customers to surprise them beyond their expectations. She and her staff have created _____ by going beyond the expected. a. customer delight b. customer satisfaction c. customer equity d. customer value e. customer loyalty
45. Treacy-Wiersema strategies and Porter strategies match as pairs of “basic strategies” and “ways to achieve them”. Which of the following is one of these pairs? a. operational excellence – market follower b. customer intimacy – differentiation c. operational excellence – focus d. product leadership – differentiation e. consumer intimacy – market follower 46. Mr. Burton has learned by sad experience that his skateboard business approach was an example of _____. a. market development b. marketing myopia c. positioning d. segmentation e. product development 47. The BCG relative market share serves as a measure of company _____ in the GE approach. a. business strength b. competitor strength c. industry attractiveness d. market development e. product development 48. Which of these is not one of the common strategies of the BCG approach? a. build b. hold c. harvest d. diversity e. invest 49. Surveys show that in markets with few customers and high margins, sellers want to create _____ type of CRM with key customers. a. basic relationships b. relationship marketing c. extreme partnerships d. full partnerships e. marketing myopia 50. When we practice _____, we arrange for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers. a. positioning b. target marketing c. target segmenting d. repositioning e. product distribution
PLEASE MAKE SURE THAT YOU ENTERED YOUR NAME ON THE FRONT COVER AND RETURN THIS QUESTION SHEET TO YOUR PROCTOR AT THE END OF THE EXAMINATION.
This action might not be possible to undo. Are you sure you want to continue?
We've moved you to where you read on your other device.
Get the full title to continue reading from where you left off, or restart the preview.