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| 1.
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__________ is the money left over after a firm's total expenses are subtracted from its total revenues. |
| | A) | Shareholders' equity |
| | B) | Profit |
| | C) | Inventory turnover |
| | D) | Contribution margin |
| | E) | Asset leverage |
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| 2.
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The goal of PartnerShops (franchised by Ben & Jerry's) is to provide training and job opportunities for at-risk youth. Since PartnerShops does not have a profit goal, it would be an example of a: |
| | A) | for-profit service provider. |
| | B) | for-profit organization. |
| | C) | nonprofit governmental agency. |
| | D) | nonprofit organization. |
| | E) | for-profit franchise. |
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| 3.
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The three levels of strategy in organizations are: |
| | A) | product mix, product line, unit product. |
| | B) | strategic, tactical, and functional. |
| | C) | corporate, business unit, and functional. |
| | D) | corporate, functional, and departmental. |
| | E) | strategic, corporate, and departmental |
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| 4.
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Marketing serves as part of a ___________ of specialists from all the functional units who are mutually accountable to a common set of performance goals.. |
| | A) | department |
| | B) | system |
| | C) | organization |
| | D) | cross-functional team |
| | E) | company |
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| 5.
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The __________ for PepsiCo is "We believe our commercial success depends upon offering quality and value to our consumers and customers; providing products that are safe, wholesome, economically efficient and environmentally sound; and providing a fair return to our investors while adhering to the highest standards of quality." |
| | A) | mission |
| | B) | organizational code of conduct |
| | C) | functional code |
| | D) | benefits statement |
| | E) | marketing concept |
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| 6.
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A firm may choose to maintain or increase its market share sometimes at the expense of greater profits if: |
| | A) | there are poor sales databases. |
| | B) | fluctuations in inventory exist. |
| | C) | there are unpredictable sales expenses. |
| | D) | industry status or prestige is at stake. |
| | E) | there is inflation. |
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| 7.
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A firm may recognize the critical importance of its __________, by having explicit goals that state its intention to improve work conditions by adding more lighting and providing the workers with more and better safety equipment. |
| | A) | satisfaction |
| | B) | sales revenue |
| | C) | market share |
| | D) | quality |
| | E) | employee welfare |
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| 8.
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The water supply in many villages in Bangladesh is contaminated with heavy concentrations of arsenic. The people who must drink from the water supply are being slowly poisoned to death. When it learned of this problem, Apyron Technology developed an innovative water purification device that removes all traces of arsenic from the water. This innovative technology gave Apyron Technology __________ when it came to selling its low-cost water purification system. |
| | A) | a competitive advantage |
| | B) | benchmarking expertise |
| | C) | a tactical innovation |
| | D) | leapfrogging capabilities |
| | E) | a viable mission |
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| 9.
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Designing a car is expensive and time-consuming even with the use of computers because until recently there was no way for all the varied departments involved in new car development to work together. DaimlerChrysler has created a central, Web-based system that cuts the design and production process by at least two years. This competence can give DaimlerChrysler: |
| | A) | a competitive advantage. |
| | B) | benchmarking |
| | C) | a tactical innovation. |
| | D) | leapfrogging. |
| | E) | a viable mission. |
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| 10.
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Knowing where the organization is at the present time enables managers to set a direction for the firm and start to allocate resources to move toward that direction. Two techniques to aid in these decisions are: |
| | A) | market-product analyses and business portfolio analysis. |
| | B) | break-even analysis and sales forecasting. |
| | C) | portfolio analysis and benchmarking. |
| | D) | contribution margin analysis and market-product analyses. |
| | E) | industry forecasting and situational analyses. |
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| 11.
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__________ are SBUs with a low share of low-growth markets-they may generate enough cash to sustain themselves, but they do not hold the promise of ever becoming real winners for the firm. |
| | A) | Cash cows |
| | B) | Stars |
| | C) | Question marks |
| | D) | Dogs |
| | E) | Problem children |
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| 12.
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A __________ has a low share of a high growth market. |
| | A) | star |
| | B) | cash cow |
| | C) | dog |
| | D) | question mark |
| | E) | cat |
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| 13.
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The World Wrestling Federation (WWF) manages professional wrestling matches. In addition, the WWF owns and operate a successful club in NYC; it partnered with Microsoft to manufacture Xbox video game consoles; it produced its own reality-based television show; and, it has licensed and marketed a number of WWF-related toys and collectibles. All of these efforts have been targeted to fans of professional wrestling. From this description, you could say that the WWF has adopted a __________ strategy. |
| | A) | market penetration |
| | B) | market development |
| | C) | product development |
| | D) | diversification |
| | E) | market divestment |
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| 14.
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A few years ago, General Mills started the Box Top for Education program. Consumers of a variety of General Mills products could save the box tops and submit them to their local schools. Once a school had certain number, it could exchange its box tops for classroom equipment. Which market-product strategy best explains why General Mills would sponsor such a program? |
| | A) | product penetration |
| | B) | market development |
| | C) | market divestment |
| | D) | product development |
| | E) | market penetration |
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| 15.
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Pedigree is a widely used brand of dog food. Its introduction of Pedigree BreathBuster biscuits for dogs with bad breath and Pedigree JointCare meaty treats for dogs suffering from joint stiffness is an example of a __________ strategy. |
| | A) | diversification |
| | B) | market penetration |
| | C) | market development |
| | D) | product development |
| | E) | product penetration |
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| 16.
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Loyal consumers have found numerous uses for WD-40 lubricating spray beyond what its manufacturer intended. A few years ago, its manufacturer ran a contest asking people to send in ways that they used the product. By capitalizing on the unforeseen ways its product gets used, the WD-40 manufacturer could implement a __________ strategy. People who were already using the product as an insect killing spray (and some people really were) would have no trouble believing it would have numerous other equally beneficial uses. |
| | A) | market penetration |
| | B) | market development |
| | C) | product development |
| | D) | diversification |
| | E) | product penetration |
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| 17.
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In the early months of 2002, strikes throughout Nigeria almost led to the country's financial ruin. For a company trying to do business in Nigeria during those months, the strikes would be an example of a(n): |
| | A) | strength. |
| | B) | weakness. |
| | C) | threat. |
| | D) | opportunity. |
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| 18.
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There are many perfumes on the market, but only one that breaks down fragrances into elements so people can wear the particular scents with which they have emotional ties. The perfume's name is Demeter, and it makes over 150 different fragrances with names like Dirt, Lobster, Dandelion, Sugar Cookie, Brownie, Woodsmoke, Leather, and Turpentine. What element of the marketing program is being considered when the company's owner decided initially to market the perfumes in a limited number of very exclusive specialty department stores? |
| | A) | product |
| | B) | price |
| | C) | promotion |
| | D) | place |
| | E) | all of the above |
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| 19.
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The Georgia Board of Education voted to have one Internet connection for each student by the end of 2001. In 1998, there was one connection for each 35 students. In 2002, there was one connection for every 7.5 students. Putting a more realistic target date of an Internet connection for each student will mean the goal will not be achieved until the end of 2003. The difference between the new projections and the original projections is called: |
| | A) | the contribution margin. |
| | B) | a marginal analysis. |
| | C) | the product differentiator. |
| | D) | the planning gap. |
| | E) | a tactical analysis. |
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| 20.
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At which phase of the strategic marketing process might a marketer discover the existence of a planning gap? |
| | A) | planning |
| | B) | motivating |
| | C) | control |
| | D) | evaluating |
| | E) | implementation |
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