Self-test Questions

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1		In a marketing-oriented company, management believe corporate goals can be achieved by:
			A)	Satisfying customer needs profitably
			B)	Producing a detailed business plan
			C)	Increasing production efficiency
			D)	Reducing costs
			E)	Making better quality products
2		A marketing-oriented company will define its mission statement in terms of:
			A)	The goals of the senior management
			B)	The products it produces
			C)	Its past history and business success
			D)	Its production capabilities and facilities
			E)	Opportunities arising from changing customer needs
3		Marketing-oriented companies make an effort to get close to their customers to:
			A)	Notify them of special offers
			B)	Operate customer loyalty schemes
			C)	Sell more products
			D)	Better understand their customers' needs and problems
			E)	Reduce advertising costs
4		Organisational effectiveness means:
			A)	Doing the right thing
			B)	Satisfying customer needs to attract and maintain customers
			C)	Focusing on the reduction of costs
			D)	Offering low prices to win and retain customers
			E)	Conducting market research to understand competitors' activities
5		A company that is "slowly dying" can be said to be:
			A)	Efficient and ineffective
			B)	Effective and inefficient
			C)	Ineffective and inefficient
			D)	Efficient and effective
6		A market-driven business:
			A)	Assumes low price and product performance is the key to winning market share
			B)	Relies on existing relationships to retain customers
			C)	Relies on the existing tried and tested marketing mix to satisfy customer needs
			D)	Segments its market by product attributes
			E)	Understands customers' needs and satisfies them by varying the marketing mix
7		The key feature of a marketing-oriented company will be that it:
			A)	Invests heavily in advertising to out-perform its competitors
			B)	Uses market intelligence to understand competitor activities
			C)	Uses past experience to out-perfom its competitors
			D)	Sells its products at a lower price than its competitors
			E)	Copies other companies which are succesful
8		New product development (NPD) should be based on:
			A)	Technological advances and perceived customer needs
			B)	A skilled workforce to manufacture the new product
			C)	Scientific advances and efficient production methods
			D)	Copying successful competitor product lines
			E)	A ready supply of raw materials
9		Adding value means looking at the total product or service from the:
			A)	Supplier's perspective
			B)	Competitor's perspective
			C)	Customer's perspective
			D)	Company's perspective
10		In marketing the 4 P's are known as the:
			A)	Marketing mix
			B)	Marketing orientation
			C)	Marketing segmentation
			D)	Marketing plan
			E)	Marketing strategy
11		Competitive advantage is achieved by:
			A)	Leaving the marketing mix unchanged to reassure customers
			B)	Increasing promotion to increase demand
			C)	Reducing the price to the cheapest supplier
			D)	Adjusting the marketing mix to satisfy customer needs profitably
12		Research shows that successful companies are likely to:
			A)	Promote experienced staff to management positions
			B)	Maintain existing operations over a number of years
			C)	Take a pro-active approach to marketing planning
			D)	Focus on high levels of efficiency
			E)	Introduce new products every year