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Multiple Choice Questions
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1

The relationship between the expense of marketing effort and the marketing results obtained is called:
A)sales ratio function.
B)marginal analysis.
C)sales response function.
D)market-product ratio.
E)sales revenue function.
2

The "S" shape of a sales response function can be attributed to:
A)rising production costs and diminishing demand.
B)reduced cost and increasing marginal returns.
C)initially increasing and then diminishing marginal returns of additional marketing expenditures.
D)decreasing costs as a result of marketing economies of scale.
E)increasing costs associated with attaining additional market share.
3

Share points are:
A)the weighted number of target market revenues relative to all target markets within a firm.
B)measurements based on million dollar increments of industry revenue.
C)percentage points of market share.
D)percentage points of revenue generated by different products within one firm.
E)the combined percentage of industry revenue not generated by your firm.
4

Which of the following is NOT a step in the planning phase of the strategic marketing process?
A)Situation analysis
B)Gathering of resources
C)Marketing program development
D)Market-product focus and goal setting
E)All of the above are steps in the planning phase
5

Long-range marketing plans:
A)sequence the details of day-to-day activities dealing with the implementation of a product strategy.
B)deal with marketing goals and strategies for a product, product line, or entire firm for a single year.
C)forecast anticipated revenue for each year during a two to five year period.
D)cover marketing activities from two to five years into the future.
E)state quantifiable results (such as sales, profits, market share, etc.) for each year for a period of two to five years.
6

Documents that deal with the marketing goals and strategies for a product, product line, or entire firm for a single year are called:
A)annual production estimates.
B)annual sales forecasts.
C)annual marketing plans.
D)annual budget projections.
E)annual operating programs.
7

A generic business strategy is intended for which type of firm?
A)Low-cost producers
B)Reseller
C)Discount firm
D)Consumer products firm
E)Any firm regardless of the product or industry.
8

Based on relative competitive scope (broad target to narrow target) and source of competitive advantage (lower cost to differentiation), Porter's four generic business strategies are (1) cost leadership, (2)                     , (3) cost focus, and (4) differentiation focus.
A)fixed price
B)hard sell
C)hyperbole
D)differentiation
E)None of the above is correct
9

What purpose does a market-product grid serve?
A)Shows the fastest areas of industry growth.
B)Accounts for all main competitors.
C)Helps identify important trade-offs in the strategic marketing process.
D)Pinpoints alternatives and uncertainties.
E)Lists market shares..
10

"Increased customer value" can take many forms. Which of the following is NOT one of these forms?
A)Expanded distribution
B)Broader market reach by an advertising medium
C)Lower prices
D)Improved quality on existing products
E)None of the above is increased customer value forms.
11

Which marketing strategy focuses on a single market segment but adds additional product lines?
A)Full coverage
B)Market specialization
C)Product specialization
D)Selective specialization
E)Market-product concentration
12

Which marketing strategy involves a focus on a single product line but marketing to new unknown markets?
A)Full coverage
B)Market specialization
C)Product specialization
D)Selective specialization
E)Market-product concentration
13

Which marketing strategy involves targeting separate product lines for separate segments?
A)Full coverage
B)Market specialization
C)Product specialization
D)Selective specialization
E)Market-product concentration
14

Which marketing strategy will offer all product lines in all markets?
A)Full coverage
B)Market specialization
C)Product specialization
D)Selective specialization
E)Market-product concentration
15

Value-based planning combines marketing planning ideas and financial planning techniques to evaluate how much a division or SBU contributes to:
A)the accomplishment of corporate goals.
B)realizing important societal needs.
C)essential fiscal survival.
D)the price of a company's stock (or shareholder wealth).
E)total sales and corporate revenues.
16

In the new millennium, the implementation phase of the strategic marketing process has emerged as the key factor to:
A)failure.
B)success.
C)unconscionable profits.
D)loss of employee loyalty.
E)loss of customer loyalty.
17

A person within a firm who is able and willing to cut red tape and move a product or program forward is called a:
A)channel captain.
B)marketing mediator.
C)program director.
D)product champion.
E)program facilitator.
18

An action item list contains three columns: (1) the task, (2) the name of the person responsible for accomplishing the task, and (3)                     .
A)The date by which the task is to be finished.
B)The resources that are dedicated to the task.
C)A timeline for each task.
D)The total budgetary requirement.
E)None of the above.
19

Three commonly used methods of controlling marketing programs are:
A)sales analysis, marginal analysis, and cost analysis.
B)sales analysis, profitability analysis, and marketing audits.
C)sales analysis, profitability analysis, and marketing control boards.
D)sales audits, cost audits, and marketing audits.
E)internal audits, external audits, and marketing control boards.
20

The purpose of sales analysis is to:
A)enable the manager to measure the profitability of the firm's products, customer groups, etc.
B)spotlight the behavior of controllable costs and indicate the contribution to profit of a specific marketing factor.
C)trace sales revenues to their sources such as specific products, sales territories, or customers.
D)allocate resources that balance incremental returns of an action against incremental costs.
E)use the firm's sales records to compare actual results with sales goals and identify areas of strength and weakness.







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