 |
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. |
|