Subject: Business    / Management    

Question
Question 21 of 50 2.0 Points
All of the following are ADVANTAGES of the product management system EXCEPT:

A. clear locus of responsibility.

B. good training for future senior executives.

C. effective center for product advocacy.

D. encourages a broad understanding of customer needs.

E. clear source for product knowledge/information.


Which of the following secondary sources is MOST likely to indicate how a competitor plans to position their product?

A. promotional literature

B. 10K statements

C. annual reports

D. patent/trademark filings

E. annual reports


Question 23 of 50 2.0 Points
Proctor and Gamble's MDO approach seeks to use brand managers to create:

A. data bases.

B. customer businesses.

C. test markets.

D. new products.

E. distribution channels.


All of the following statements about strategic planning are true EXCEPT:

A. Strategic planning is done at the highest levels of the firm.

B. Strategic planning focuses on broad objectives.

C. Strategic planning takes place at the business center level.

D. Strategies are, by nature, general.

E. Strategies typically focus on return on investment/assets.


Question 25 of 50 2.0 Points
Which of the following is the latest addition to Porter's industry assessment factors?

A. production/service capacity

B. threat of new entrants

C. amount of intra-category rivals

D. bargaining power of suppliers

E. threat of substitute products/services


The use of predefined categories provided by commercial data services and/or the US government could lead to completely overlooking:

A. product form competitors.

B. product category competitors.

C. generic and budget competitors.

D. all of the above

E. none of the above


Question 27 of 50 2.0 Points
The impact upon the sales of one brand resulting from a change in a marketing variable (often, price) of another brand is described by:

A. cross-elasticity.

B. cross-substitutability.

C. cross-complementation.

D. cross-purchases.

E. cross-marketing.


The marketing plan should be viewed by, explained to, and receive comments/inputs from:

A. only the Board of Directors.

B. the product manager and his/her staff.

C. all departments affected by it.

D. consumers and competitors.

E. only the firm's vice-presidents.


Question 29 of 50 2.0 Points
Which of the following types of product management structures is MOST closely associated with effective cost control?

A. the market/market structure

B. the firm/competitor structure

C. the management/marketing structure

D. the product/product structure

E. the market/distribution structure


As compared to product managers, marketing managers are much more likely to be concerned with:

A. managing product portfolios.

B. developing tactics.

C. detailed adjustments to the short-term marketing mix.

D. short-term market share, volume, and profits.

E. a wider variety of short-term, internal tactics.


Question 31 of 50 2.0 Points
At the product level, a marketing strategy is composed of:

A. target market selection.

B. core strategy.

C. implementation.

D. all of the above

E. none of the above


Products and services are "tailored" to small groups through the process of:

A. market segmentation.

B. computerization.

C. mass customization.

D. specialization.

E. web "surfing".


Question 33 of 50 2.0 Points
Product managers typically write marketing plans with inputs from:

A. finance.

B. operations.

C. marketing communications.

D. all of the above

E. none of the above


The attractiveness of a product category is impacted by:

A. aggregate factors.

B. category factors related to the major participants.

C. environmental factors.

D. all of the above

E. none of the above


Question 35 of 50 2.0 Points
Under _______________ competition, all products and services competing for the same customer dollar is viewed as forming a market.

A. product category

B. product form

C. market share

D. generic

E. budget


In identifying sources of present and/or future competition, managers may rely upon:

A. experience.

B. salesmen call reports.

C. distribution.

D. any, or all, of the above

E. none of the above


Question 37 of 50 2.0 Points
The product manger's job involves all of the following activities EXCEPT:

A. market analysis.

B. developing product objectives and strategies.

C. coordination with other firm areas.

D. development of firm-wide marketing strategy.

E. "internal" marketing.


Competitor analysis has received more attention in recent years as a result of:

A. increased competition for customers in slow growth markets.

B. shorter product life cycles.

C. technological advances.

D. the increasing importance of foreign competition.

E. all of the above


Question 39 of 50 2.0 Points
The internet:

A. has increased the rate of technological change.

B. has made more information easily available.

C. may create "information overload".

D. has encouraged "continual planning".

E. all of the above


All of the following are part of the Situation Analysis section of the marketing mix EXCEPT:

A. category analysis.

B. competitor analysis.

C. customer analysis.

D. planning assumptions.

E. executive summary