mkt 327 final questions

question

Which of the following actitivies is associated with the strategic framework stage of the marketing planning process?
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Positioning
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Which of the statements below defines a S,W.O.T. Analysis?
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An analysis process that acquires information on organization’s environment and capabilities
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Which of the following is NOT a step of the marketing strategy process?
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Licensing
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Which of the following is defined as the process of developing and maintaining a crucial fit between the organization’s goals and capabilities and its changing marketing opportunities.
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Strategic planning
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Which of the following is an analysis process that is part of a marketing plan’s information foundation as opposed to a strategic framing decision?
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Buyer behavior
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Sectors of society are to macro marketing as which of the following is to micro marketing.
answer

Organizations and customers
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Which of the following statement defines a tactical implementation plan?
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A short-term plan for actions and reactions to specific market conditions for how each part of the controllable marketing variables will be used to achieve the strategic marketing plan goals.
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Which of the analysis procedures below (that are part of the marketing information foundation) provide insights for the environment?
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Situation analysis
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Which of the following refers to a group of individuals, groups, or organizations that are integrated within a dynamic network of environmental cause and effect activities that share purpose and proximity?
answer

Community
question

Which of the following is a step in executing a situation analysis?
answer

Environmental scanning
question

What is the last step in an Environmental Scan?
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Project trends
question

Which of the following statements defines marketing (or managerial marketing)?
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The activity for creating and delivering offerings that benefit the organization, its stakeholders, and society.
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Which of the statements below defines a strategic marketing plan or process?
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An approach whereby an organization allocates its marketing mix resources to reach its target markets.
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Match the following elements of the information foundation with the basic strategic questions that they address.
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Situation Analysis & S.W.O.T. Analysis = Is organization on course Target Market Analysis = Is organization on code Competitor Analysis & S.W.O.T. Analysis = Can organization compete
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Which of the following is an element of a Business Portfolio model?
answer

Cash Cow
question

In most cases the Target Market Analysis process should end (its last step) with which of the following?
answer

Segmentation analysis
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Which of the following statements defines relationship marketing?
answer

Linking the organization to the individual customers, employees, suppliers, and other partners for their mutual long-term benefits.
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Selling products and generating a profit is the essence of marketing.
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False
question

The creation of value through satisfaction and loyalty helps marketing form connections at which level?
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Micro
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Which of the following terms refers to the process by which a person selects the information they obtain, or retain?
answer

Perception
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How does marketing perform its most essential role at the macro level?
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Through the universal marketing functions
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Which of the following statements defines a market? (select all that are correct)
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A collection of individuals or organizations with a common need, and the desire and ability (in terms of accessibility or affordability) to satisfy that need. A location (physical or virtual) where buyers encounter sellers for the purpose of viewing and/or selling their goods or services.
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Which of the following is correct with regards to needs and wants?
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Wants satisfy needs
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All of the managerial marketing tasks below are part of the market creation activities except for which one?
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Delivering value
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One part of the statement defining the essence of marketing refers to the formation of community, connections, and relationships. Which of the following terms involves the marketing activities directed at achieving these objectives?
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Market creation
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All of the following are true regarding how product classifications help marketers except for which of the following?
answer

They help improve marketing efficiency.
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Which of the following is what happens when a company attempts to capture each of its targeting segments with a unique marketing strategy?
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Differentiation
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A product line contains all of a company’s product mixes.
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False
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Which of the following best describes what product classification is?
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Defines the role product oriented decisions play in the overall marketing strategy. hm Defines how consumers purchase products and how they use those products.
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The number of locations, where a product or service is available in a given market is addressed by which of the following channel decisions?
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Channel intensity
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The coordination of advertising, sales promotion, personal selling, public relations, and sponsorship is part of which concept?
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Integrated marketing communications
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Which of the following is true with regard to channels?
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All are true
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The Purpose of a Segmentation Analysis is to do which of the following?
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None of the above
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Reminder Advertising would be defined as which of the following?
answer

Messages that keep product at the forefront of the consumer’s mind
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Which of the following statements best defines the concept of demand management?
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Selecting which aspect of demand (the number of buyers, there desire to buy, their physical ability to buy, or their financial ability to buy) the firm should focus on.
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Operational excellence is one of the alternative courses of action for demand management.
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False
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At what stage of the product life cycle do sales generally grow at a slow rate?
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Introduction
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Which of the following characteristics best defines the difference between marketing intelligence and marketing research?
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Marketing intelligence continually collects information
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Which of the following decisions considers trade shows, display booths, and contests?
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Sales Promotion
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Measurable, substantial, and accessible are informational items for the first step in a segmentation analysis?
answer

False
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Which of the following is not considered a classification of consumer products?
answer

Operating
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Which alternative below is a true statement regarding positioning, segmentation, and integrated marketing communications?
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These are strategic framing decisions
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When wholesalers or retailers place their name on a product, this is called which of the following?
answer

A Private branding
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A group of firms in an industry following the same or similar strategy is referred to as a strategic group.
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True
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Which of the following provides insights that help define a ‘skeleton’ marketing plan?
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Product life cycle
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The purpose of Advertising is:
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All are correct: Inform consumers with messages that provide information for later use. Persuade by changing consumers attitudes and opinions. Remind consumers about products. Reinforce to encourage repeat purchasing.
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Because it is difficult to successfully appeal to all market segments, companies often select certain segments for emphasis, this process is called which of the following terms?
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Target marketing
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Which of the following is one of the alternative positioning strategies?
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Demand focus
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According to class lecture, which of the following is a condition of an attractive market segment?
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Segments are substantial
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Which section of the product life cycle is your product most likely in assuming that you are a brand manager for a Proctor and Gamble product, your product’s sales are beginning to grow, and the product still has not earned a profit?
answer

Introduction
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Which of the following steps in a strategic marketing plan is part of the Tactical section?
answer

Positioning
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The role or purpose of Marketing in a firm is defined by which of the following?
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Marketing concept
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Profiling and naming a group of consumers with similar demographic and psychographic characteristics is the _________ step in an _______________ analysis.
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2nd; Segmentation
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Which of the following best defines the term ‘customer perceive value’, or just customer value?
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Buyer’s benefits at a specified price
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Which of the following terms refers to the ability of the company to provide products that satisfy customer needs and wants?
answer

Being on code
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The marketing mix consists of four elements, commonly referred to as the “Four P’s” They are:
answer

product price promotion place
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Which of the following is NOT an element of a marketing plan?
answer

Manufacturing
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The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges defines which of the following?
answer

Marketing management
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A management information system is the process of defining a marketing problem and/or opportunity, then systematically collecting and analyzing information, and recommending actions.
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False
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Satisfaction is exclusively a function of the product’s performance and quality.
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False
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A shopping product is in the introduction stage of the life cycle and consumers are at the awareness stage. Which communication objective is usually most appropriate for this situation?
answer

Inform/Educate Provide Information
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A company is considering which of several groups of with common needs to focus its marketing efforts on. Which of the strategic framing decisions is it executing?
answer

Segmentation
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A company is aggresively marketing a shopping product (could be homogeneous or heterogeneous). Which of the following should be the focus of its ‘skeleton plan’ in terms of promotional efforts?
answer

Differentiation
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Which of the following pricing decisions specifies the overall impact the price of the product or service will have on the firm’s strategic positioning?
answer

Objectives
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Which of the following statements best defines a general marketing strategy?
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A guiding framework for developing a skeleton marketing plan that identifies which aspect of demand the firm should focus on.
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Gaining awareness for the product and establishing distribution should be the focus of a firm’s marketing strategy in which stage of the life cycle?
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Introduction
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Which of the following would be an appropriate general marketing strategy for an organization with a product that has primary demand?
answer

Increase buyers’ purchasing rate
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Which of the following is the best example of a homogeneous shopping good?
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Under garments
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The assets linked to a brand name and the symbol that adds value to the product refers to which of the following?
answer

Brand Equity
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Which of the following would be a price orientation?
answer

Marketing
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Which of the following is a component of satisfaction?
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Product Performance
question

Which of the following steps in a strategic marketing plan is part of the information foundation?
answer

SWOT Analysis
question

Which of the analysis procedures below that are part of the marketing information foundation provide insights for whether organization is on course?(select all answers that apply)
answer

situation analysis target market analysis competitor analysis marketing audit
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A company’s long-term plan for using resources to pursue goals and objectives in competitive arenas is called:
answer

Strategy
question

Which of the following elements of a typical marketing information system tends to deal with the analysis and presentation of information as opposed to the collection and analysis of information?
answer

Decision support systems
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In which of the following stages of the buyer decision making process does the customer realize value?
answer

Post purchase decision
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In the knowledge generation continuum information directly generate knowledge.
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False
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Which of the analysis procedures below (that are part of the marketing information foundation) provide insights for potential customers and the market at large?
answer

Target market analysis
question

Marketing performs its most essential role at three broad levels macro, micro, and personal. At the macro level marketing serves as which of the following?
answer

Social mechanism
question

Which of the following is a role of pricing over and beyond the recovering of costs associated with a product or service?
answer

All of the above are pricing roles
question

______ is what happens when a company attempts to capture each of its targeting segments with a unique marketing strategy.
answer

Differentiation
question

The product life cycle has four stages. Which of the following is NOT one of those stages?
answer

Shake out
question

All of the following are true regarding how Product Classification and Life Cycle help marketers except for which one?
answer

They help improve marketing efficiency
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Competitive Intensity is an information need for a step in which of the following analyses?
answer

Environmental Scanning
question

Which of the following would not be part of the total price concept?
answer

Contractual Terms
question

Determining whether objectives are met or not would occur in which stage of the Integrated Marketing Concept Plan?
answer

Measure Results
question

A company using a leader-customer intimacy competitive strategy might be expected to invest in a customer relationship management system.
answer

True
question

A company is competing in a somewhat profitable industry where sales over the last 3 years has been 12%, 18%, and 24%. Three firms entered the industry last year and three more are expected this year. This industry would be categorized in which stage of the product life cycle?
answer

Growth
question

Which of the following is not an aspect of demand?
answer

Decrease the number of competitors in the market place
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Which of the following stages in the product life cycle involves building the brand name, adding distributors and creating product extensions and options?
answer

Growth
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Which of the following is true of a General Marketing Strategy?
answer

It frames the marketing mix actions to achieve desired position
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An organizational vision is not part of a marketing plan.
answer

True
question

Which of the following terms refers to the extent the company and its actions are consistent with environmental conditions expected in the future?
answer

Being on course
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The marketing mix is to micro marketing as which of the following is to macro marketing.
answer

Universal marketing functions
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What type of utility makes goods and services available when they are wanted?
answer

Time
question

Which of the statements below defines the universal marketing function: storage?
answer

Holding products until the time is appropriate for making or breaking bulk
question

Which of the following produces (as opposed to creates) value primarily through marketing, as opposed to production? (select all answers that apply)
answer

Time, place, possession
question

The analysis of an organization’s core competencies and their fit with environmental factors is a step in which of the analyses below?
answer

S.W.O.T. analysis
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In which of the following outsourcing buying decisions would have the fewest of the buying decision steps implemented by a potential customer?
answer

Straight rebuy
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Assessing a factor’s impact and understanding the forces driving its expected changes are associated with the first step in an environmental scan.
answer

False
question

Cultural diversity is an important part of the macroenvironment. It consists of learned values, common beliefs, common language, common symbols, and behaviors shared by people and passed on from generation to generation. In analyzing culture, marketers must be careful to be influenced by their own values commonly referred to as:
answer

Self-reference criterion
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Which of the following are issues or questions associated with Porters ‘Five Forces’? (Select all that apply)
answer

Who are our existing rivals? What new competitors may emerge? What substitutes are likely to appear?
question

Box Feature: Chapter 7 discusses Ritz-Carlton, an organization that exhibits excellence in customer satisfaction and loyalty. Which of the following best describes why it is able to achieve such a loyal and satisfied customer base?
answer

None of these answers are correct.
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Johnson Corp. is planning to market a low-involvement purchase product. Which of the following would you expect?
answer

Consumers will make a choice about the product without a lot of effort.
question

Collecting and analyzing information about the marketing environment in order to detect important changes or trends that can affect a company’s strategy is called:
answer

Environmental scanning
question

Product benefits refer to the physical or psychological features of a product or service.
answer

False
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The diffusion process describes the spread of innovations from on individual or group to another over time. Which of the following is not a category of buyers according to the diffusion process?
answer

Innovators
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Focusing on existing market segments with existing products is:
answer

Core business focus
question

A _____________ segmentation or targeting strategy focuses a unique marketing mix strategy to each or most of the market segments available in the market.
answer

Differentiated
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Comparative messages:
answer

draw attention to the sponsor’s brand and other brands mentioned in the message.
question

What are the three roles for a product in the marketing planning process?
answer

perform function, provide meaning, and frame mix
question

Developing new products for new market segments is:
answer

Diversification
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A channel intensity decision impacts the number of channel outlets or locations as opposed to the number of channels.
answer

True
question

If an organization’s core competencies or strengths are in the marketing areas of personal selling and distribution relationships, it should lean towards using a push strategy.
answer

True
question

The objective of Integrated communications is to:
answer

All of these answers are correct.
question

The portion of the marketing class’s plan addressed in the paragraph that begins with the sentence “The campaign will attempt to get Spartans currently taking 15 credit hours or more, while working 10 or more hours per week, participate in extra-curricular activities for 5 hours or more per week, that are aspiring organizers…”, is an aspect or component of which of the following strategic framing decision?
answer

Segmentation Strategy
question

The portion of the marketing class’s plan addressed in the paragraph that begins with the sentence ” The overall goal is to get Spartans to sign up for the waiting list for Codename Oxford; and to attend the ‘Launch Event’….”, is an example of which of the following?
answer

Marketing Objectives
question

The portion of the marketing class’s plan addressed in the paragraph that begins with the sentence “The campaign will attempt to get Spartans currently taking 15 credit hours or more, while working 10 or more hours per week, participate in extra-curricular activities for 5 hours or more per week, that are aspiring organizers…”, is an example of which of the following?
answer

Target Market
question

The Student’s marketing strategy sought to implement a communication strategy by executing marketing messages (assets) designed to get members of this target market to view the tool as the voice of the ultimate ‘Good-Angel’ in their head that assists them in making their life easier; and that wove messages or positioning that parallel the ‘Spartans Will’. Which of the following types of advertising should they use?
answer

Reinforcement
question

Even though the product is still at the proto-type stage, the company still wanted to consider pricing issues. Which price orientation would seem to be warranted for this product at its initial launch.
answer

Market or value oriented
question

Which of the following is one of the four key social media marketing activities identified by the article,”Understanding the Role of Organic versus Paid Social Media”? (Select all that Apply)
answer

Listening, Learning, and Responding Creating Conversations Content Marketing Targeted Marketing
question

Twitter would generally be considered to be most effective for which of the following objectives? (select all that apply)
answer

Customer Communication Directing Traffic to website
question

Search qualities are found mostly in:
answer

Almost pure goods
question

___________________ are provided by the manufacturers to distribution channel members to give wholesalers and retailers incentive to sell the manufacturer’s brand.
answer

Trade promotions
question

Advertisers have many ways to transmit messages to consumers. Newspapers, television, magazines, outdoor advertising, the internet, social and mobile are called:
answer

Media
question

Which of the following identifies the five dimensions of brand equity?
answer

brand awareness, brand loyalty, perceived quality, brand associations, competitive advantage
question

Coupons, rebates, samples, sweepstakes, value packs, point-of- purchase displays and loyalty programs are:
answer

Consumer promotions used by manufacturers with retailers
question

Pharmaceutical salespeople attempt to influence physicians’ choice of drugs they prescribe. This is ___________________ sales.
answer

Missionary sales
question

A strategy in which there is a unique name for each major product or product line is called:
answer

Individual brand strategy
question

Which of the following is true regarding relationship (customer) objectives for pricing?
answer

Pricing should be done so customers receive enough long-term value to be loyal customers.
question

Which of the following statements is (are) true for a skimming price strategy? (Check all that apply)
answer

Results in sustained research and development efforts It seeks to maximize profit margins It reflects a product leadership competitive value proposition
question

The marketing planning process proposed in the class insures a global perspective through the analyses processes used in the situation analysis?
answer

True
question

Which of the following is correct regarding price leadership.
answer

Price leaders can exert power, but often it is unnecessary.
question

Which of the following is correct regarding monopolistic competition.
answer

All other answers are correct.
question

The price umbrella is a price:
answer

Set by a leader to encourage other companies to enter or stay in a market
question

Addressing discrepancies in allocation is a wholesaling function that entails selling a range of merchandise from a variety of sources.
answer

False
question

Products can be bundled or unbundled for pricing purposes. Which of the following is not an example of the bundled approach.
answer

A restaurant has an a la carte menu.
question

A shopping experience is the activity related to managing the store and the merchandise in the store
answer

False
question

Which of the following is not a type of market exchange or transaction?
answer

Singular
question

What type of utility makes goods and service conveniently available?
answer

Place
question

Marketing with meaning is about improving customers’ lives through innovation and the functional effectiveness of the product or service provided
answer

false
question

Which of the following is a area of distinction between a for profit organization versus a non-profit organization with respect to marketing?
answer

nature of price strength of selling proposition
question

The collective common beliefs, perspectives, and identity held by members of community with respect to some purpose or cause, or object or brand defines the term _______________
answer

shared consciousness
question

Transaction efficiency is defined by which of the following statements?
answer

The number of exchanges (contacts) and transactions required to provide a given population its array of products or services
question

Which of the following produces (as opposed to creates) value primarily through production, as opposed to marketing or innovation?
answer

task form
question

Porter’s Value Chain is a useful strategic management tool in that it provides a fuller picture of which of the following?
answer

cost drivers
question

A build up segmentation method starts with identify the characteristics of a single customer
answer

true
question

Which of the following types of marketing exchanges or relationships has the unique feature that a new firm is created?
answer

joint venture
question

Together a S.W.O.T analysis and a competitor analysis helps the organization determine if it can _____
answer

compete
question

Which of the following is not one of the basic types of competitive strategy?
answer

one of the core competencies
question

When launching a new product, a company should assess the competitive environment by asking all of the following questions EXCEPT:
answer

What action groups will likely oppose the product?
question

Which of the following is a competitor of Federal Express overnight delivery?
answer

(all) UPS USPS Airborne Express fax machine
question

Which of the following types of analysis procedures for big data provides the expected results from given conditions and actions?
answer

predictive analytics
question

Which of the following is a criterion used to classify or determine how a product should be classified?
answer

comparisons made purchase planning location of purchase decision
question

Marketers should begin the communication process by understanding:
answer

characteristics of the target market, the objectives of the communication, and how to meet those objectives
question

Which of the following is an alternative course of action for a segmentation strategy?
answer

change product’s rating on an attribute
question

Answers to questions by executives like will the organization be a market leader, close follower or also-ran; will it have broad or deep product lines, and how much will be invested in R&D are:
answer

part of the new product strategy
question

Which type of product is relatively inexpensive and purchased frequently with minimal effort?
answer

convenience
question

Which of the statements below best defines the term indirect channel?
answer

a distribution channel in which the producer makes use of independent organizations to distribute the product to end users
question

A company has determined that is customers depreciate the company’s product. The product should be classified as which of the following?
answer

capital item
question

The portion of the marketing class’s plan addressed in the paragraph that begins within the sentence “the execution of the marketing campaign would be rooted in social media and public relations..” is an example of?
answer

integrated marketing mix strategy
question

The portion of the marketing class’s plan addressed by the statement “to view or think of the app as an essential tool to help them organize their ideas and schedules”, is a component or aspect of which of the following strategic framing decisions?
answer

positioning strategy
question

relationship selling focuses on:
answer

forging bonds with buyers in an effort to gain loyalty and mutual satisfaction
question

Which of the following service classification would have greatest price sensitivity?
answer

self service equipment-based service
question

Which of the following statements best defines brand awareness?
answer

The exten to which customers recognized the brand and are likely to include it and the set of brands they consider
question

A product recall occurs
answer

when a manufacturer or the federal government withdraws a product to prevent harm to customers
question

The evaluation of alternatives for services is based more on surrogate cues the higher the credence.
answer

True
question

A brand is distinct from a product’s logo or slogan
answer

true
question

Which of the following influences on price dictate or impacts where the price of some product or service falls between what the market will bear and its floor?
answer

market (marketing) factors
question

Which of the following is a competitor-oriented price tactic?
answer

base point
question

Which of the following is not correct regarding retailing?
answer

It is always the most costly method of distribution to consumers

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