Question 1

Which of the following is included in the "price" component of a company's marketing mix?

Accepted Answer

A) packaging 
B) sales promotion 
C) brand name 
D) inventory 
E) discounts 
A) packaging 
B) sales promotion 
C) brand name 
D) inventory 
E) discounts

Question 2

In the BCG growth-share matrix,question marks refer to ________.

Accepted Answer

A) products with a low market share in a niche market 
B) products with a low relative market share in a market with high growth prospects 
C) products that have a greater market share than all their competitors combined in a saturated market 
D) products with a high market share in a market with a high growth rate 
E) products with a low market share in a market that is set to decrease significantly 
A) products with a low market share in a niche market 
B) products with a low relative market share in a market with high growth prospects 
C) products that have a greater market share than all their competitors combined in a saturated market 
D) products with a high market share in a market with a high growth rate 
E) products with a low market share in a market that is set to decrease significantly

Question 3

Which of the following criteria does the Boston Consulting Group approach use to provide a measure of market attractiveness?

Accepted Answer

A) relative market share 
B) market sentiment 
C) return on marketing investment 
D) market growth rate 
E) marketing return on sales 
A) relative market share 
B) market sentiment 
C) return on marketing investment 
D) market growth rate 
E) marketing return on sales

Question 4

Which of the following best describes product positioning?

Accepted Answer

A) actually differentiating the market offering to create superior customer value 
B) identifying consumer needs and creating a product to meet those needs 
C) arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers 
D) the process of evaluating each market segment's attractiveness and selecting one or more segments to enter 
E) dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors 
A) actually differentiating the market offering to create superior customer value 
B) identifying consumer needs and creating a product to meet those needs 
C) arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers 
D) the process of evaluating each market segment's attractiveness and selecting one or more segments to enter 
E) dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors

Question 5

Cosmetics firm SatinSilk is revamping its mission statement and advertising strategy.The planning team comes up with a list of options for the new mission statement.The CEO stresses that the new mission statement should be market-oriented rather than product-oriented.Which of the following mission statements should the company pick?

Accepted Answer

A) to create the best possible products and sell them at the best possible price 
B) to sell cosmetics products that are hypoallergenic and made only from the finest natural materials 
C) to give customers the complexion they dream about by providing a range of products suited to their needs 
D) to sell affordably priced cosmetics in every cosmetics product category 
E) to increase our market share in the cosmetics segment and increase profit margins 
A) to create the best possible products and sell them at the best possible price 
B) to sell cosmetics products that are hypoallergenic and made only from the finest natural materials 
C) to give customers the complexion they dream about by providing a range of products suited to their needs 
D) to sell affordably priced cosmetics in every cosmetics product category 
E) to increase our market share in the cosmetics segment and increase profit margins

Question 6

In the marketing mix,design,packaging,services,and features are all included in the category of ________.

Accepted Answer

A) product 
B) price 
C) promotion 
D) place 
E) people 
A) product 
B) price 
C) promotion 
D) place 
E) people

Question 7

Which of the following is true of marketing ROI?

Accepted Answer

A) Marketing ROI uses only those marketing effects that are measured in dollar terms. 
B) Marketing ROI ignores customer-centered measures of marketing impact, such as customer acquisition and retention. 
C) Marketing ROI is the net return from a marketing investment divided by the profit from the marketing investment. 
D) Marketing ROI cannot be assessed in terms of standard marketing performance measures, such as brand awareness, sales, or market share. 
E) Marketing ROI measures the profits generated by investments in marketing activities. 
A) Marketing ROI uses only those marketing effects that are measured in dollar terms. 
B) Marketing ROI ignores customer-centered measures of marketing impact, such as customer acquisition and retention. 
C) Marketing ROI is the net return from a marketing investment divided by the profit from the marketing investment. 
D) Marketing ROI cannot be assessed in terms of standard marketing performance measures, such as brand awareness, sales, or market share. 
E) Marketing ROI measures the profits generated by investments in marketing activities.

Question 8

When pursuing a market penetration strategy,a company aims to improve sales by ________.

Accepted Answer

A) entering a new market in addition to its current market 
B) introducing a new variant of its product in a new market 
C) increasing distribution efforts in its current market 
D) introducing its product in a new market without making any changes to the product 
E) selling a new product in its current market 
A) entering a new market in addition to its current market 
B) introducing a new variant of its product in a new market 
C) increasing distribution efforts in its current market 
D) introducing its product in a new market without making any changes to the product 
E) selling a new product in its current market

Question 9

The strategic plan deals with a company's current businesses,while annual plans involve adapting the firm to take advantage of opportunities in the environment.

Accepted Answer

A) True 
 B)False

Question 10

The product development and diversification strategies are similar in that ________.

Accepted Answer

A) both strategies involve selling the company's current products 
B) both strategies involve selling in the company's current market 
C) both strategies involve selling in new as well as existing markets 
D) both strategies involve the development of a new product 
E) both strategies involve leaving the current market 
A) both strategies involve selling the company's current products 
B) both strategies involve selling in the company's current market 
C) both strategies involve selling in new as well as existing markets 
D) both strategies involve the development of a new product 
E) both strategies involve leaving the current market

Question 11

Kawaii Electronics sells air conditioning systems for offices in the U.S.The company uses a functional organization system for its management department at present.However,it is looking to revamp this method.Explain why Kawaii should not opt for a product management or customer management organization.

Accepted Answer

(Students' answers may vary.)
Under a pr

Question 12

The process of dividing a market into distinct groups of buyers with different needs,characteristics,or behaviors is called ________.

Accepted Answer

A) market targeting 
B) positioning 
C) diversification 
D) market segmentation 
E) market penetration 
A) market targeting 
B) positioning 
C) diversification 
D) market segmentation 
E) market penetration

Question 13

A harvesting strategy involves selling off a low-performing SBU or phasing it out and using the resources elsewhere.

Accepted Answer

A) True 
 B)False

Question 14

In a SWOT analysis,________ refer to external factors that the company may be able to exploit to its advantage.

Accepted Answer

A) strengths 
B) strategies 
C) weaknesses 
D) opportunities 
E) controls 
A) strengths 
B) strategies 
C) weaknesses 
D) opportunities 
E) controls

Question 15

Ainsworth's is a toy manufacturer based in Australia.Which of the following indicates that the company is following a market penetration strategy?

Accepted Answer

A) Ainsworth's introduces a line of children's clothing in Australia. 
B) Ainsworth's licenses toy rights for a popular cartoon character in order to boost its sales. 
C) Ainsworth's introduces its toys in the Indian and South-East Asian markets. 
D) Ainsworth's enters the U.S. market with a line of children's clothing. 
E) Ainsworth's develops a range of educational toys and school supplies in its current market. 
A) Ainsworth's introduces a line of children's clothing in Australia. 
B) Ainsworth's licenses toy rights for a popular cartoon character in order to boost its sales. 
C) Ainsworth's introduces its toys in the Indian and South-East Asian markets. 
D) Ainsworth's enters the U.S. market with a line of children's clothing. 
E) Ainsworth's develops a range of educational toys and school supplies in its current market.

Question 16

A company can assess marketing ROI in terms of standard marketing performance measures,such as brand awareness,sales,or market share.

Accepted Answer

A) True 
 B)False

Question 17

In a SWOT analysis,which of the following would be considered a weakness for a company?

Accepted Answer

A) an unfavorable economic climate that discourages consumption 
B) the exit of a competitor from the market 
C) inflation, which leads to higher prices of the company's products 
D) decreasing consumer interest in its products 
E) the company's competitor developing improved production technology 
A) an unfavorable economic climate that discourages consumption 
B) the exit of a competitor from the market 
C) inflation, which leads to higher prices of the company's products 
D) decreasing consumer interest in its products 
E) the company's competitor developing improved production technology

Question 18

Which of the following groups is included in both a company's value chain and its value delivery network?

Accepted Answer

A) customers 
B) suppliers 
C) employees 
D) distributors 
E) competitors 
A) customers 
B) suppliers 
C) employees 
D) distributors 
E) competitors

Question 19

The growth strategy of diversification involves offering modified or new products to current markets.

Accepted Answer

A) True 
 B)False

Question 20

Differentiate between the BCG matrix and the product/market expansion grid.

Accepted Answer

The Boston Consulting Group matrix evalu

Which of the following is included in the "price" component of a company's marketing mix?

In the BCG growth-share matrix,question marks refer to ________.

Which of the following criteria does the Boston Consulting Group approach use to provide a measure of market attractiveness?

Which of the following best describes product positioning?

In the marketing mix,design,packaging,services,and features are all included in the category of ________.

Which of the following is true of marketing ROI?

When pursuing a market penetration strategy,a company aims to improve sales by ________.

The strategic plan deals with a company's current businesses,while annual plans involve adapting the firm to take advantage of opportunities in the environment.

The product development and diversification strategies are similar in that ________.

The process of dividing a market into distinct groups of buyers with different needs,characteristics,or behaviors is called ________.

A harvesting strategy involves selling off a low-performing SBU or phasing it out and using the resources elsewhere.

In a SWOT analysis,________ refer to external factors that the company may be able to exploit to its advantage.

Ainsworth's is a toy manufacturer based in Australia.Which of the following indicates that the company is following a market penetration strategy?

A company can assess marketing ROI in terms of standard marketing performance measures,such as brand awareness,sales,or market share.

In a SWOT analysis,which of the following would be considered a weakness for a company?

Which of the following groups is included in both a company's value chain and its value delivery network?

The growth strategy of diversification involves offering modified or new products to current markets.

Differentiate between the BCG matrix and the product/market expansion grid.

Marketing Creating and Capturing Customer Value

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Product,Services,and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Marketing Channels Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 2: Company and Marketing Strategy: Partnering to Build Customer Relationships

Which of the following is included in the "price" component of a company's marketing mix?

In the BCG growth-share matrix,question marks refer to ________.

Which of the following criteria does the Boston Consulting Group approach use to provide a measure of market attractiveness?

Which of the following best describes product positioning?

In the marketing mix,design,packaging,services,and features are all included in the category of ________.

Which of the following is true of marketing ROI?

When pursuing a market penetration strategy,a company aims to improve sales by ________.

The strategic plan deals with a company's current businesses,while annual plans involve adapting the firm to take advantage of opportunities in the environment.

The product development and diversification strategies are similar in that ________.

The process of dividing a market into distinct groups of buyers with different needs,characteristics,or behaviors is called ________.

A harvesting strategy involves selling off a low-performing SBU or phasing it out and using the resources elsewhere.

In a SWOT analysis,________ refer to external factors that the company may be able to exploit to its advantage.

Ainsworth's is a toy manufacturer based in Australia.Which of the following indicates that the company is following a market penetration strategy?

A company can assess marketing ROI in terms of standard marketing performance measures,such as brand awareness,sales,or market share.

In a SWOT analysis,which of the following would be considered a weakness for a company?

Which of the following groups is included in both a company's value chain and its value delivery network?

The growth strategy of diversification involves offering modified or new products to current markets.

Differentiate between the BCG matrix and the product/market expansion grid.

Marketing Creating and Capturing Customer Value

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Product,Services,and Brands: Building Customer Value

Developing New Products and Managing the Product Life Cycle

Pricing: Understanding and Capturing Customer Value

Marketing Channels Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters