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| 1 | |
The sales response function can be used to: |
| | A) | posttest an ad like a sales test. |
| | B) | relate the expense of marketing effort to the marketing results obtained. |
| | C) | evaluate how each environmental strength, opportunity, weakness, and threat will affect the company and its products. |
| | D) | assign responsibilities for actions and deadlines. |
| | E) | do all of the above. |
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| 2 | |
Biopure Corporation has developed an artificial hemoglobin that can be used in place of blood transfusions and holds the patent on this product. Therefore, Biopure has a(n): |
| | A) | distinctive parity. |
| | B) | sustainable dominance. |
| | C) | synergistic edge. |
| | D) | market dominance. |
| | E) | competitive advantage. |
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| 3 | |
During the __________ phase of the strategic marketing process, a manufacturer of soy milk would learn of a recent medical study that indicates soy may help alleviate infertility problems. |
| | A) | planning |
| | B) | implementation |
| | C) | control |
| | D) | evaluation |
| | E) | organizing |
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| 4 | |
Long-range marketing plans: |
| | A) | sequence the details of day-to-day activities dealing with the implementation of a product strategy in the strategic marketing process. |
| | B) | deal with marketing goals and strategies for a product, product line, or entire firm for a single year. |
| | C) | predict 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 results sought (such as sales, profits, market share, etc.) quantified for each year for a period of two to five years. |
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| 5 | |
A manufacturer of exercise equipment has set as its strategic goal to increase its market share by 5 percent during the next three years. During the __________ of the strategic marketing process, the company will learn whether it achieved this goal. |
| | A) | planning |
| | B) | implementation |
| | C) | measurement |
| | D) | evaluation |
| | E) | organizing |
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| 6 | |
Which of the following statements about marketing plans is true? |
| | A) | Marketing plans all have the same format. |
| | B) | The design of an effective marketing plan should not be affected by the length of the planning period. |
| | C) | Marketing plans have the same basic format no matter what the nature of the audience for which they are developed. |
| | D) | The business plan is the heart of the marketing plan. |
| | E) | Marketing plans set the direction for the marketing activities of an organization. |
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| 7 | |
A __________ business strategy is one that can be adopted by any firm, regardless of the product or industry involved, to achieve a competitive advantage. |
| | A) | variable |
| | B) | nonspecific |
| | C) | broad-spectrum |
| | D) | generic |
| | E) | flexible |
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| 8 | |
Which of the following statements about cost leadership strategy is true? |
| | A) | Cost leadership strategy requires reducing expenses to lower the price of the items sold in a relatively broad array of market segments. |
| | B) | Significant investments in capital equipment may be necessary to improve the production or distribution process to give low unit costs. |
| | C) | The cost leader still must have adequate quality levels. |
| | D) | Wal-Mart's sophisticated systems of regional warehouses and electronic data interchange with suppliers have led to huge cost savings and its cost leadership strategy. |
| | E) | All of the above statements about cost leadership strategy are true. |
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| 9 | |
The manufacturer of Lee jeans has been extremely successful with its Lee Dungarees. With this brand, Lee has associated its jeans with an indestructible spirit using the image of Buddy Lee to create the ideal jeans—the jeans that make the wearer feel he or she could do anything. It has targeted these jeans to 17- to 22-year-olds. What type of generic business strategy did Lee use? |
| | A) | differentiation focus |
| | B) | cost focus |
| | C) | differentiation |
| | D) | revenue leadership |
| | E) | profit enhancement |
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| 10 | |
Which of the following is NOT an example of a strategy that can be used to enhance profits? |
| | A) | market penetration |
| | B) | product penetration |
| | C) | market development |
| | D) | product development |
| | E) | diversification |
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| 11 | |
When Home Depot opens new stores in Canada and Mexico, it is using a ___________ strategy, one of the profit enhancement options. |
| | A) | market penetration |
| | B) | product development |
| | C) | differentiation |
| | D) | diversification |
| | E) | market development |
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| 12 | |
Which marketing strategy would most likely offer the greatest economies of scale in research and development and production expenses? |
| | A) | market-product concentration |
| | B) | market specialization |
| | C) | product specialization |
| | D) | selective specialization |
| | E) | market specialization and market product concentration |
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| 13 | |
Which of the following is an appropriate guideline to use when developing marketing plans? |
| | A) | Design the plan to be inflexible; change will simply negate the organizational focus. |
| | B) | Utilize plans that consider every possible contingency. |
| | C) | Incorporate all the key marketing mix factors. |
| | D) | Set qualitative goals as well as quantifiable goals. |
| | E) | Do not use any assumptions—plans should be derived from facts. |
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| 14 | |
Quaker took its Instant Oatmeal and added Dinosaur eggs, which have colorful creatures that appear when boiling water is added. Research shows that children who would not eat plain oatmeal are extremely attracted to the new product. Quaker, like General Foods, used a __________ strategy. |
| | A) | product concentration |
| | B) | full coverage |
| | C) | product specialization |
| | D) | market specialization |
| | E) | selective specialization |
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| 15 | |
Which market-product strategy involves selling a new product to existing markets? |
| | A) | market penetration |
| | B) | market development |
| | C) | divestment |
| | D) | diversification |
| | E) | product development |
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| 16 | |
Which statement best reflects the advice given by management experts regarding the tendency to excessively analyze a problem? |
| | A) | Don't put a product on the market until it's perfect. |
| | B) | Try a "do it, fix it, try it," approach. |
| | C) | If a problem arises, assemble a committee of the appropriate people to solve it. |
| | D) | Better to ask forgiveness than permission. |
| | E) | Avoid the NIH syndrome. |
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| 17 | |
Which of the following activities is NOT part of scheduling an action item list? |
| | A) | identifying the main tasks to be performed |
| | B) | arranging the activities to meet the deadlines |
| | C) | assigning responsibilities to complete each task |
| | D) | determining the budgetary needs for each task |
| | E) | determining the time required to complete each task |
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| 18 | |
Those in staff positions have the authority and responsibility to advise people in line positions: |
| | A) | and can recommend salary and benefit adjustments for them. |
| | B) | but cannot issue direct orders to them. |
| | C) | but must clear all such communication with their superiors. |
| | D) | and must clear all such communication with the corporate human resources department. |
| | E) | but cannot fraternize with them. |
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| 19 | |
Within DuPont's textile fiber department, there is a separate product manager for rayon, acetate, orlon, nylon, and Dacron. The product manager for DuPont nylon would be responsible for: |
| | A) | making long-range plans for nylon. |
| | B) | maintaining the divisional mission statement. |
| | C) | modifying DuPont's organizational structure. |
| | D) | creating static marketing objectives. |
| | E) | doing all of the above. |
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| 20 | |
Market share, cost per lead, and retention rate are examples of |
| | A) | marketing metrics. |
| | B) | micro sales analysis. |
| | C) | sales control analysis. |
| | D) | marginal analysis. |
| | E) | cost analysis. |
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