Marketing Management

Ch 1 Question 1 Which of the following statements is correct? ) Marketing is the term used to refer only to the sales function within a firm b) Marketing managers usually don’t get involved in production or distribution decisions c) Marketing is an activity that considers only the needs of the organization, not the needs of society as a whole d) Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large Question 2 The term marketing refers to: a) New product concepts and improvements b) Advertising and promotion activities c) A philosophy that stresses customer value and satisfaction d) Planning sales campaigns Question 3 In the history of marketing, when did the production period end? a) In the late 1800s b) In the early 1900s c) In the 1920s d) After the end of the Second World War Question 4 A marketing philosophy summarized by the phrase “a good product will sell itself” is characteristic of the _________ period. ) Production b) Sales c) Marketing d) Relationship Question 5 Which of the following factors contributed to the transition from the production period to the sales period? a) Increased consumer demand b) More sophisticated production techniques c) Increase in urbanization d) The Great Depression Question 6 An organisation with a ______ orientation assumes that customers will resist purchasing products not deemed essential. The job of marketers is to overcome this resistance through personal selling and advertising. a) Production b) Marketing c) Relationship d) Sales Question 7 In the relationship marketing firms focus on __________ relationships with __________. ) Short term; customers and suppliers b) Long term; customers and suppliers c) Short term; customers d) Long term; customers Question 8 Political campaigns are generally examples of: a) Cause marketing b) Organization marketing c) Event marketing d) Person marketing Question 9 The Coca Cola organisation is an official sponsor of the Olympics. The firm is engaging in: a) Place marketing b) Event marketing c) Person marketing d) Organization marketing Question 10 Today’s marketers need… a) Neither creativity nor critical thinking skills b) Both creativity and critical thinking skills c) Critical thinking skills but not creativity d) Creativity but not critical thinking skills Question 11 Which of the following is NOT n element of the marketing mix? a) Distribution b) Product c) Target market d) Pricing Question 12 The term “marketing mix” describes: a) A composite analysis of all environmental factors inside and outside the firm b) A series of business decisions that aid in selling a product c) The relationship between a firm’s marketing strengths and its business weaknesses d) A blending of four strategic elements to satisfy specific target markets Question 13 Newsletters, catalogues, and invitations to organisation-sponsored events are most closely associated with the marketing mix activity of: a) Pricing b) Distribution c) Product development d) Promotion

Question 14 The way in which the product is delivered to meet the customers’ needs refers to: a) New product concepts and improvements b) Selling c) Advertising and promotion activities d) Place or distribution activities Question 15 The key term in the American Marketing Association’s definition of marketing is: a) Process b) Customers c) Stakeholders d) Value Question 16 A critical marketing perspective is the process of determining: a) The value of a product, person, or idea b) How places compete with each other c) The worth and impact of marketing activities d) Which type of promotional strategy works best Question 17 When customer expectations regarding product quality, service quality, and value-based price are met or exceeded, _____ is created. ) Customer satisfaction b) Planning excellence c) A quality rift d) A value line Question 18 A market orientation recognizes that: a) Price is the most important variable for customers b) What the customer thinks he or she is buying is what is important c) Selling and marketing are essentially the same thing d) Sales depend predominantly on an aggressive sales force Question 19 Four competing philosophies strongly influence the role of marketing and marketing activities within an organization. Which if the following is NOT a marketing management philosophy? a) Customer orientation b) Profitability orientation c) Marketing orientation d) Competitor orientation Question 20 In order for exchange to occur: a) A complex societal system must be involved b) Organized marketing activities must also occur c) A profit-oriented organization must be involved d) Each party must have something of value to the other party Ch 2 Question 1 Which of the following is NOT part of the external marketing environment? ) Political b) Legal c) Product d) Socio-cultural Question 2 Car (automobile) designers world-wide began working on plans for a dual energy car when: a) They realized that such a vehicle was not only feasible, but inexpensive b) The legal tolerance for noxious emissions from automobiles began to be reduced c) Noise pollution regulations began to be passed that would outlaw the internal combustion engine d) Sweden passed a law that said all new vehicles had to have a provision for pedal-power Question 3 A firm has decided to alter its pricing and promotional strategies in response to slower than expected job growth and declining personal incomes. The firm is responding to changes in its: a) Socio-cultural environment b) Political environment c) Economic environment d) Competitive environment Question 4 Robert is a marketer for a global consumer products company. He is working on the promotional campaign designed to reach a target audience in a new international market.

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Robert is working hard to make sure that the promotional campaign is clearly understood by the nation’s consumers and doesn’t offend anyone. Which of the factors in the external environment is he being influenced by? a) Socio-cultural environment b) Competitive environment c) Economic environment d) Legal environment Question 5 The process of collecting information about the external marketing environment is a) Environmental management b) Environmental scanning c) Marketing management d) Marketing research Question 6 The five dimensions usually considered to constitute the environment of marketing include all of the following except: a) Political considerations b) Global factors c) Competitive aspects ) Economics issues Question 7 Marketing decision makers in a firm must constantly monitor competitors’ activities-their products, prices, distribution, and promotional efforts-because a) The competitors may be violating the law and can be reported to the authorities b) The actions of competitors may threaten the monopoly position of the firm in its industry c) The actions of competitors may create an oligopoly within an industry d) New product offerings by a competitor with the resulting competitive variations may require adjustments to one or more components of the firm’s marketing mix Question 8 When looking at consumer income, marketers are most nterested in a) Discretionary income b) Deferred income c) Inflationary income d) Disposable income Question 9 New technology results in new goods and services, and it also can a) Lower the quality of existing products b) Lower the available level of customer service c) Reduce prices through new production and distribution methods d) Bring back products that were considered obsolete Question 10 Toyota’s Prius and Honda’s hybrid Civic are examples of technological products inspired by: a) Style considerations in the Japanese automobile industry b) Social pressure to develop more fuel-efficient vehicles with fewer dangerous emissions c) The desire of many engineers to simply make interesting products d) The realization that Japanese people didn’t need large, high-speed cars Question 11 _____ is the collection and interpretation of information about forces, events, and relationships that may affect the organization. ) Environmental scanning b) Stakeholder analysis c) Market sampling d) Opportunity analysis Question 12 Assume you are in charge of the politically-mandated process of converting the economy of a developing African nation from state-controlled to market-driven business ventures. Your ability to control _____ will most likely determine the future success of the country and its government. a) The culture b) Marketing c) Technology d) Competitive environment Question 13 Marketing managers cannot control ____, but they can at times influence it. a) Where advertising is placed b) The sales force c) The external environment d) How products are priced Question 14 As technology continues to offer more different methods for shopping on the Internet, manufacturers and traditional retailers are finding themselves in direct competition with each other.

In this case, unless marketing managers understand _____, manufacturers and retailers cannot intelligently plan for the future. a) Their competitors’ strategies b) The economic conditions which influence the growth of technology c) Changing social attitudes towards technology d) All of these Question 15 The external environment a) Can be controlled in much the same manner as the internal marketing mix b) Does not change over time c) Does not have an impact on Fortune 500 companies d) Must be continually monitored by marketing managers Question 16 The differentiation of a firm’s products or services to promote environmental responsibility is referred to as: a) Social branding b) Eco-branding c) Me-too branding d) Brand ersonality Question 17 Which of the following elements is NOT part of Porter’s 5-forces model for industry competitiveness? a) Threat of substitutes b) Threat of suppliers c) Power of buyers d) Threat from government players Question 18 A market with which of the following characteristics would generally be less competitive? a) High barriers to entry b) Lots of potential substitutes exist c) Strong bargaining power among buyers d) Strong bargaining power among suppliers Question 19 To evaluate an organization’s Strategic Business Units (SBU), the Boston Consulting Group developed a portfolio performance framework that characterizes some of the SBUs as: ) Question marks b) Quick winners c) Charging bulls d) Cash outs Question 20 The quadrant of the Boston Consulting Group (BCG) matrix that represents both a high market share and a high rate of market growth includes the: a) Cash cows b) Achievers c) Stars d) Strivers Ch 3 Question 1 Consumer behaviour is a term that refers to a) Organizational and institutional buying behaviour b) Organizational and consumer buying behaviour c) Commercial and government buying behaviour d) Individual and/or household buying behaviour Question 2 Which of the following is NOT an example of consumer behaviour: a) Claire buying a new car b) Ashley buying a new home theatre/cinema system c) Sarah deciding on a college or university to attend d) Marcus ordering a new computer system for his work Question 3 Which of the following is NOT an internal factor that influences the consumer product acquisition process include a) Learning b) Family c) Self-concept d) Perceptions Question 4 With respect to consumer behaviour, one’s friends, and relatives could be considered a: a) Impersonal influence b) Reference group influence c) Perceptual influence d) Institutional influences Question 5 With respect to consumer behaviour, the function of one’s perceptions, learning and memory processes is to: a) Attend to messages b) Filter messages c) Store messages d) All of the above Question 6 Which of the following is typically NOT a result of recognizing the importance of ethnic groups by marketers? ) Use of an undifferentiated one-size-fits-all marketing strategy b) Different pricing strategies for different groups c) Variations in product offerings to suit the wants of a particular group d) Study of ethnic buying habits to isolate market segments Question 7 The single group within society that is most vulnerable to reference group influence is a) The older consumer who feels somewhat left out of things b) Married women, many of whom feel a need for stability in their lives c) New immigrants who really want to assimilate into their new culture d) Children, who base most of their buying decisions on outside influences Question 8 Which of the following can be described as an affective mental state? ) Attitudes b) Opinions c) Values d) Conative Question 9 Early adopters, of which opinion leaders are large comprised, tend to be: a) Generalized; that is, they tend to lead the group on most issues b) More likely to buy new products before their friends do and voice their opinions about them c) From the upper class; people from other classes are more likely to be followers d) Quiet, withdrawn people who don’t make fashion statements or take risks easily Question 10 An imbalance between a consumer’s actual and desired state in which recognition that a gap or problem needs resolving is called a) Motive development b) An attitudes c) A self-concept d) Product Evalution Question 11 According to Maslows Hierarchy of Needs theory, the need for fulfilment, for realizing one’s own potential, and for fully using one’s talents and capabilities are examples of __________ needs. a) Self-actualization b) Physiological c) Social d) Esteem Question 12 A person who is in the position of attempting to satisfy their needs at the most basic level is operating at the level of Maslow’s needs hierarchy called the need for a) Self-actualization b) Esteem c) Physiological d) Belongingness Question 13 Which of the following is an assumption in Maslow’s hierarchy of needs? ) Needs are dependent on culture and also on social class b) Lower-level needs must be at least partially satisfied before higher needs can affect behaviour c) Needs are not prioritized or arranged in any particular order d) Satisfied needs are motivators, and new needs emerge when current needs remain unmet Question 14 Opinions can be referred to as cognitive and a) Is a measure of the emotional content of the opinion b) Deals with the aesthetic content of the opinion c) Refers to the individual’s knowledge and information about an object or concept d) Measures the speed with which one learns about others opinions Question 15 Providing free samples of perfumes (scent) in magazines is an example of which of the following? a) Classical conditioning b) Operant conditioning c) Social learning d) Behavioural learning Question 16 Which of the following is NOT an example of habitual decision making? ) Buying a latte from Starbucks every morning on the way to work b) Buying your favourite brand of shampoo in your fortnightly grocery shop c) Setting up a mortgage account with a new bank d) Running to the shop every Sunday to purchase the Sunday papers Question 17 Post purchase re-evaluation of the consumer product acquisition process attempts to measure the degree of: a) Selling success experienced by the vendor b) Consumer satisfaction with the purchase c) Follow-up effectiveness of the firm d) Advertising influence on the purchase Question 18 Which of the following consumer buying behaviours requires the LEAST effort? a) High involvement buying situation b) New buying situation c) Routine buying d) Impulsive buying Question 19 With analyzing consumer lifecycles, marketers look at consumers in differing stages of their life. Many models upon which these are based were developed in the 1960s. Since then a lot has changed in ‘consumer lifecycles’. Which emerging trends should marketers take into consideration? ) Fewer people are getting married b) People getting married at a later age c) More couples co-inhabiting d) All of the above Question 20 The process that creates changes in behaviour is called: a) Selective adaptation b) Learning c) Involvement manipulation d) Attitude adjustment Ch 4 The process of anticipating future events and conditions and determining the best way to achieve organizational objectives is known as: a) Researching b) Planning c) Controlling d) Managing Question 2 Strategic marketing planning establishes the: a) Resource base provided by the firm’s strategy b) Economic impact of additional sales c) Tactical plans that must be implemented by the entire organization d) Basis for any marketing strategy Question 3 The strategic marketing planning process begins with: a) The writing of the mission statement b) The establishment of organizational objectives c) The formulation of a marketing plan d) Hiring a senior planner Question 4 This sets out what an organization wants to become: a) Marketing objectives b) Mission statement c) Vision statement d) Marketing Strategy Question 5 ___________ is/are concerned with defining target markets and segments, and then setting out the direction and competitive approach that the organization wishes to take within these markets. a) Marketing objectives b) Strategy marketing planning c) Marketing activities d) Corporate strategy Question 6 A market with which of the following characteristics would generally be less competitive? a) High barriers to entry b) Lots of potential substitutes exist c) Strong bargaining power among buyers d) Strong bargaining power among suppliers Question 7 Which of the following firms has often followed a market challenger (second-mover) strategy? a) Apple Computer b) eBay c) Sainsbury’s d) Amazon. om Question 8 SWOT is an acronym for: a) Strategy, working, opinion, tactical b) Strengths, weaknesses, opportunities, threats c) Strategy, work, openness, toughness d) Strategy, weakness, opinions, tactics Question 9 In SWOT analysis, situations where organizations are able to convert weaknesses into strengths and threats into opportunities, these are called: a) Strategic windows b) Strategic leverage c) Conversion strategies d) Vulnerability Question 10 This is something that at some time in the future may destabilize and/or reduce the potential performance of the organization. a) Threat b) Strength c) Weakness d) Opportunities Question 11 An example of a “threat” to a firm discovered by a SWOT analysis might be: a) Cost advantages present because of advanced technology b) The chance to acquire firms with needed technology c) Likely entry of new competitors in the industry d) Too narrow a product line for the firm Question 12 These objectives are often employed in mature markets as firms/products enter a decline phase.

The goal is to maximize short-term profits and stimulate a positive cash flow. a) Harvest objectives b) Divest objectives c) Hold objectives d) Growth objectives Question 13 Which of the following is a strategic marketing planning tool? a) The market share/market growth (BCG) matrix b) The consumer scanning model c) A market vulnerability/business opportunity matrix d) Market sheet analysis Question 14 These objectives are often the most suitable when firms operate in a market dominated by a major competitor and where their financial resources are limited. a) Niche b) Hold c) Harvest d) Divest Question 15 This type of growth refers to concentrating activities on markets and/or products that are familiar. ) Diversification b) Condensive c) Integrative d) Intensive Question 16 A broadly defined, enduring statement of purpose that distinguishes a business from others of its type is referred to as which of the following? a) A focus statement b) A tactical plan c) A business mission d) A strategic statement Question 17 A firm can reduce the bargaining power of suppliers by: a) Designing standardized components so that many suppliers are capable of producing them b) Threatening to integrate backward into supply c) Seeking new sources of supply d) By pursuing all of the above options Question 18 The bargaining power of buyers is greater when: a) There are many dominant buyers and many sellers b) The industry is not a key supplying group for buyers ) Suppliers threaten to integrate forward into the buyer’s industry d) All of the above conditions are present Question 19 Diversification is best described as which of the following? a) Existing products in new markets b) Existing products in existing markets c) New products for new markets d) New products for existing markets Question 20 Market expansion is usually achieved by: a) More effective use of distribution b) More effective use of advertising c) By cutting prices d) All of the above are suitable tactics Ch 5 The process of anticipating future events and conditions and determining the best way to achieve organizational objectives is known as: a) Researching b) Planning c) Controlling d) Managing Question 2

Strategic marketing planning establishes the: a) Resource base provided by the firm’s strategy b) Economic impact of additional sales c) Tactical plans that must be implemented by the entire organization d) Basis for any marketing strategy Question 3 The strategic marketing planning process begins with: a) The writing of the mission statement b) The establishment of organizational objectives c) The formulation of a marketing plan d) Hiring a senior planner Question 4 This sets out what an organization wants to become: a) Marketing objectives b) Mission statement c) Vision statement d) Marketing Strategy Question 5 ___________ is/are concerned with defining target markets and segments, and then setting out the direction and competitive approach that the organization wishes to take within these markets. ) Marketing objectives b) Strategy marketing planning c) Marketing activities d) Corporate strategy Question 6 A market with which of the following characteristics would generally be less competitive? a) High barriers to entry b) Lots of potential substitutes exist c) Strong bargaining power among buyers d) Strong bargaining power among suppliers Question 7 Which of the following firms has often followed a market challenger (second-mover) strategy? a) Apple Computer b) eBay c) Sainsbury’s d) Amazon. com Question 8 SWOT is an acronym for: a) Strategy, working, opinion, tactical b) Strengths, weaknesses, opportunities, threats c) Strategy, work, openness, toughness d) Strategy, weakness, opinions, tactics Question 9

In SWOT analysis, situations where organizations are able to convert weaknesses into strengths and threats into opportunities, these are called: a) Strategic windows b) Strategic leverage c) Conversion strategies d) Vulnerability Question 10 This is something that at some time in the future may destabilize and/or reduce the potential performance of the organization. a) Threat b) Strength c) Weakness d) Opportunities Question 11 An example of a “threat” to a firm discovered by a SWOT analysis might be: a) Cost advantages present because of advanced technology b) The chance to acquire firms with needed technology c) Likely entry of new competitors in the industry d) Too narrow a product line for the firm Question 12

These objectives are often employed in mature markets as firms/products enter a decline phase. The goal is to maximize short-term profits and stimulate a positive cash flow. a) Harvest objectives b) Divest objectives c) Hold objectives d) Growth objectives Question 13 Which of the following is a strategic marketing planning tool? a) The market share/market growth (BCG) matrix b) The consumer scanning model c) A market vulnerability/business opportunity matrix d) Market sheet analysis Question 14 These objectives are often the most suitable when firms operate in a market dominated by a major competitor and where their financial resources are limited. a) Niche b) Hold c) Harvest d) Divest Question 15

This type of growth refers to concentrating activities on markets and/or products that are familiar. a) Diversification b) Condensive c) Integrative d) Intensive Question 16 A broadly defined, enduring statement of purpose that distinguishes a business from others of its type is referred to as which of the following? a) A focus statement b) A tactical plan c) A business mission d) A strategic statement Question 17 A firm can reduce the bargaining power of suppliers by: a) Designing standardized components so that many suppliers are capable of producing them b) Threatening to integrate backward into supply c) Seeking new sources of supply d) By pursuing all of the above options Question 18

The bargaining power of buyers is greater when: a) There are many dominant buyers and many sellers b) The industry is not a key supplying group for buyers c) Suppliers threaten to integrate forward into the buyer’s industry d) All of the above conditions are present Question 19 Diversification is best described as which of the following? a) Existing products in new markets b) Existing products in existing markets c) New products for new markets d) New products for existing markets Question 20 Market expansion is usually achieved by: a) More effective use of distribution b) More effective use of advertising c) By cutting prices d) All of the above are suitable tactics Answer is option in Bold letters [email protected] com

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