Marketing_5Dec_2nd

Marketing_5Dec_2nd

Question 31)Which of the following does NOT accurately reflect a problem with the BCG matrix
approach?
A) It focuses on future planning. B) It can be costly to conduct.
C) It can be time consuming to implement.
D) It is difficult to define SBUs and measure market share and growth. E) It focuses on
classifying current businesses.
32)Unlike strategic-planning efforts of the past, which were conducted primarily by senior
managers, today's strategic planning is more ________.
A) short-term oriented B) decentralized
C) limitation-free D)product-oriented E) centralized
33)Which department in a company carries the primary responsibility for achieving profitable
growth?
A) marketing B) finance C) operations
D) human resources E) management
34)Which of the following is a useful tool for identifying growth opportunities?
A)the BCG matrix
B)the business portfolio
C)the product/market expansion grid
D)the value chain
E)the value delivery network
35)Mountain Home Farms is now using the product/market expansion grid to develop strategies.
The owners of the company have most likely found the grid to be quite useful for identifying
________.
A) target markets
B) growth opportunities C) key customers
D) new products E) suppliers
36)Making more sales without changing a firm's products is ________.
A)market development
B)market growth
C)market penetration
D)product development
E)market attractiveness
37)Disney is identifying and developing new markets for its theme parks. Disney is exploring
possibilities for ________.
A) market penetration B) market development C) downsizing
D) diversification
E) product development
38)If Under Armour, the successful maker of moisture-wicking shirts and shorts, considered
introducing a line of Under Armour fitness equipment, the company would be considering
________.
A) marketing controls B) market development C) diversification
D) market penetration E) product adaptation
39)________ entails reducing the business portfolio by eliminating products that no longer fit the
company's overall strategy.
A) Market segmentation B) BCG
C) Product line extension D) Downsizing
E) Market redesign
40)Which of the following is NOT a reason that a firm might want to abandon products or
markets?
A) The market environment has changed, making a product less profitable. B) The firm has
entered areas in which it does not have expertise.
C) The economic climate is showing signs of recovery. D) The firm has grown too fast.
E) The firm has not properly researched foreign markets which it has entered.
41)The marketing concept is best thought of as which of the following?
A)a guiding philosophy for the company's marketing strategy
B)a specific approach to building relationships with customers, vendors, and suppliers
C)the overall purpose of the company
D)the position the company's product holds in customers' minds
E)the organization of the company's marketing department
42)Each department in a company that carries out value-creating activities can be thought of as a
link in the company's ________.
A) market development B) product development C) business portfolio D) value chain
E) value delivery network
43)As a company's different functions work to produce value for consumers, the marketing
department of a firm should take the ________ point of view.
A) employees' B) managers' C) stockholders' D) consumers' E) distributors'
Copyright © 2011 Pearson Education, Inc.
44)Multinationals like Honda Motor Co. and Wal-Mart stores have designed programs to work
closely with their suppliers to help them reduce their costs and improve quality. This illustrates
the importance of an efficient ________.
A) business model B)low-cost operator C) product mix
D) value-delivery network E) problem-solver
45)________ is the marketing logic by which a company hopes to achieve profitable customer
relationships.
A) Price
B) Being a low-cost operator C) A consistent product mix D) Marketing strategy
E) Implementing a differentiation strategy
46)In a visual representation of the marketing process, which of the following should appear in
the center?
A) sales goals
B) customer relationships C) company objectives
D) customer retention rates E) competitors
47)A sound marketing strategy begins with ________.
A)positioning
B)customer analysis
C)differentiation
D)promotion
E)SWOT analysis
48)The process of customer-driven marketing involves ________, ________, ________, and
________.
A) product; price; promotion; adaptation
B) market segmentation; market targeting; differentiation; positioning C) marketing analysis;
planning; implementation; feedback
D) analysis; targeting; implementation; control
E) problem identification; information search; decision; implementation
49)The process of dividing a market into distinct groups of buyers with different needs,
characteristics, or behaviors is called ________.
A) market targeting B) positioning
C) marketing strategy D) market segmentation E) market extension
50)For Hyundai Corporation, customers who care primarily about the price of a car and its
operating economy make up one ________.
A) market position B) value network C) market segment
D) customer extension E) value chain
51)________ involves evaluating each market segment's attractiveness and selecting one or more
segments to enter.
A) Market segmentation B) Product differentiation C) Market targeting
D) Market mixing E) Positioning
52)Most companies today enter a new market by serving a ________; if this proves successful,
they ________.
A) single market segment; add segments
B) multitude of segments; add more segments C) few segments; add more segments
D) niche; differentiate
E) target market; reposition
53)________ is the place a product occupies in the consumer's mind relative to competitors'
products.
A) Product placement B) Product position
C) Market segmentation D) Market targeting
E) Product promotion
54)Jill Reno has researched new markets and has decided which segments to enter. Next she
should decide what ________ her company should occupy in those segments.
A) position B) place C) rank D) rating
E) percentage of space
.
55)Effective positioning begins with ________ the company's marketing offer in order to give
consumers more perceived value.
A) pricing B) aligning
C) differentiating D) promoting
E) placing
56)In the four Ps of the marketing mix, design, packaging, services, and variety all fall under the
category of ________.
A) product B) price
C) promotion D) place
E) position
57)The text suggests that instead of thinking of selling products, marketers would be wise to take
the customer's view and think of ________.
A) providing convenience
B) offering solutions to problems
C) initiating two-way communication D) offering discounts
E) connecting services and products
58)In the marketing management functions, a SWOT analysis should ________ a marketing
plan.
A) precede
B) coincide with C) follow
D) evaluate
E) take priority over
59)In a SWOT analysis, which of the following would be considered a strength?
A)internal limitations
B)trends in the market
C)favorable factors in the environment
D)factors that challenge the company's performance
E)internal resources
60)In a SWOT analysis, which of the following refers to factors in the external environment? A)
strengths
B) strategies C) weaknesses
D) opportunities E) trends