Question 1

______ is the expected earnings stream of a firm's current and prospective customers over some period of time.

Accepted Answer

A)   Profit
B)   Earnings
C)   Operating profit
D)   Customer equity
E)   Net value

Question 2

Good marketing strategy planners know that:

Accepted Answer

A)   firms like Nabisco and Walmart are too large to aim at clearly defined target markets.
B)   target marketing does not limit one to small market segments.
C)   mass marketing is often very desirable and effective.
D)   the terms "mass marketing" and "mass marketer" mean basically the same thing.
E)   target markets cannot be large and spread out.

Question 3

A S.W.O.T. analysis includes:

Accepted Answer

A)   strengths.
B)   weaknesses.
C)   opportunities.
D)   threats.
E)   All of these are included in a S.W.O.T analysis.

Question 4

The marketing management process is the process of:

Accepted Answer

A)   Planning marketing activities.
B)   Implementing marketing plans.
C)   Controlling marketing plans.
D)   All of these.

Question 5

The marketing mix should be set before the best target market is selected.

Accepted Answer

A) True 
 B)False

Question 6

An Embassy Suites hotel offers an inexpensive "Family Luncheon Buffet" on Sundays to get customers for its restaurant that is filled by business travelers during week days. This effort to get new customers for the available facility is an example of

Accepted Answer

A)   a production orientation.
B)   product development.
C)   market development.
D)   diversification.
E)   market penetration.

Question 7

A mail-order marketer of flower bulbs to gardening hobbyists decides to sell the bulbs in grocery stores--to reach nonhobbyists who might be interested in pretty flowers. This is an example of:

Accepted Answer

A)   market development.
B)   diversification.
C)   market penetration.
D)   product development.

Question 8

_______ means that the marketing mix is distinct from and better than what is available from a competitor.

Accepted Answer

A)   Operational
B)   Visible
C)   Differentiation
D)   Competitive
E)   None of these is correct

Question 9

Hewlett-Packard sells personal computers through specialty computer stores, electronics superstores, and its own Internet site. The marketing mix variable that is being considered here is:

Accepted Answer

A)   Price.
B)   Promotion.
C)   Personnel.
D)   Product.
E)   Place.

Question 10

The Product area of the marketing mix may involve a service and/or a physical good which satisfies some customers' needs.

Accepted Answer

A) True 
 B)False

Question 11

If Wendy's decides to test market a hot dog in several stores to determine if it can make more profit from this menu item than from a "Wendy's single," which market opportunity is Wendy's pursuing?

Accepted Answer

A)   Diversification
B)   Market development
C)   Market penetration
D)   Product development

Question 12

The three basic tasks of ALL managers, according to the text, are:

Accepted Answer

A)   planning, staffing, and evaluating.
B)   marketing, production, and finance.
C)   execution, feedback, and control.
D)   hiring, training, and compensating.
E)   planning, implementation, and control.

Question 13

Customer equity

Accepted Answer

A)   is of concern to top management, but not very relevant in planning a particular marketing strategy.
B)   takes the perspective of the selling firm.
C)   always increases over time, at least as long as a firm can stay in business.
D)   is important to marketing managers but of little interest to customers.
E)   increases as long as the number of customers that a firm serves increases over time.

Question 14

When one considers the strategy decisions organized by the four Ps, branding is related to packaging as:

Accepted Answer

A)   branding is to pricing.
B)   production is to marketing.
C)   store location is to sales force selection.
D)   personal selling is to mass selling.
E)   pricing is to promotion.

Question 15

Which of the following would NOT require an operational decision for a leading hair color manufacturer?

Accepted Answer

A)   Solicit orders from any new, financially attractive, salons.
B)   Drop colors that are losing appeal.
C)   Create a fresh ad for each Sunday newspaper.
D)   Set a competitive price if a primary competitor offers a special discount.
E)   Promote the fair price and satisfactory quality of the product.

Question 16

As in the Toddler University case, the needs of a target market virtually determine the nature of an appropriate marketing mix.

Accepted Answer

A) True 
 B)False

Question 17

_____ assume(s)  that everyone is the same--and consider(s)  everyone to be a potential customer.

Accepted Answer

A)   Mass marketers
B)   Target marketing
C)   Mass marketing
D)   Target marketers
E)   Objective marketing

Question 18

_____ means trying to increase sales of a firm's present products in its present markets.

Accepted Answer

A)   Differentiation
B)   Product development
C)   Market development
D)   Diversification
E)   Market penetration

Question 19

When a company expands globally, this is an example of:

Accepted Answer

A)   Market development.
B)   Product development.
C)   Diversification.
D)   Market penetration.
E)   Mass marketing.

Question 20

A target market and a related marketing mix make up a:

Accepted Answer

A)   Marketing plan.
B)   Marketing strategy.
C)   Marketing program.
D)   Marketing analysis.
E)   Marketing proposal.

Exam 2: Marketing Strategy Planning

The marketing management process is the process of:

Correct AnswerverifiedShow Answer

When one considers the strategy decisions organized by the four Ps, branding is related to packaging as:

Correct AnswerverifiedShow Answer

Good marketing strategy planners know that:

Correct AnswerverifiedShow Answer

_____ assume(s) that everyone is the same--and consider(s) everyone to be a potential customer.

Correct AnswerverifiedShow Answer

As in the Toddler University case, the needs of a target market virtually determine the nature of an appropriate marketing mix.

Correct AnswerverifiedShow Answer

Which of the following would NOT require an operational decision for a leading hair color manufacturer?

Correct AnswerverifiedShow Answer

The marketing mix should be set before the best target market is selected.

Correct AnswerverifiedShow Answer

______ is the expected earnings stream of a firm's current and prospective customers over some period of time.

Correct AnswerverifiedShow Answer

_______ means that the marketing mix is distinct from and better than what is available from a competitor.

Correct AnswerverifiedShow Answer

_____ means trying to increase sales of a firm's present products in its present markets.

Correct AnswerverifiedShow Answer

The three basic tasks of ALL managers, according to the text, are:

Correct AnswerverifiedShow Answer

An Embassy Suites hotel offers an inexpensive "Family Luncheon Buffet" on Sundays to get customers for its restaurant that is filled by business travelers during week days. This effort to get new customers for the available facility is an example of

Correct AnswerverifiedShow Answer

Hewlett-Packard sells personal computers through specialty computer stores, electronics superstores, and its own Internet site. The marketing mix variable that is being considered here is:

Correct AnswerverifiedShow Answer

Customer equity

Correct AnswerverifiedShow Answer

If Wendy's decides to test market a hot dog in several stores to determine if it can make more profit from this menu item than from a "Wendy's single," which market opportunity is Wendy's pursuing?

Correct AnswerverifiedShow Answer

The Product area of the marketing mix may involve a service and/or a physical good which satisfies some customers' needs.

Correct AnswerverifiedShow Answer

A mail-order marketer of flower bulbs to gardening hobbyists decides to sell the bulbs in grocery stores--to reach nonhobbyists who might be interested in pretty flowers. This is an example of:

Correct AnswerverifiedShow Answer

A target market and a related marketing mix make up a:

Correct AnswerverifiedShow Answer

A S.W.O.T. analysis includes:

Correct AnswerverifiedShow Answer

When a company expands globally, this is an example of:

Correct AnswerverifiedShow Answer

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