Marketing Management
Final Exam
Course Introduction
Marketing Management is a foundational course that explores the principles, strategies, and tools essential for effectively managing marketing activities in diverse organizational settings. The course covers key topics such as market research, consumer behavior, segmentation, targeting and positioning, product development, pricing strategies, distribution channels, and promotional tactics. Students will learn to analyze market environments, develop strategic marketing plans, and implement solutions to real-world marketing challenges, thereby equipping them with the skills to make informed decisions that drive organizational growth and customer value.
Recommended Textbook
Strategic Marketing 1st Edition by Todd Mooradian
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Page 2
Chapter 1: Overview of Marketing Strategy the Strategic Marketing Process
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Q1) For most firms,a niche cost-leadership strategy is difficult to implement and sustain because scale is so closely linked to cost advantage.
A)True
B)False
Answer: True
Q2) ________ is how a firm differentiates itself from competitors in a way that customers value.
A) Segmentation
B) Diversification
C) Development
D) Singularity
Answer: D
Q3) Which of the following is LEAST likely to be used by a firm pursuing a marketing strategy of differentiation?
A) reliability
B) convenience
C) performance
D) cost leadership
Answer: D
Page 3
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Chapter 2: Situation Assessment - the External Environment
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Q1) According to the text,identifying customer insights is the first step in ________.
A) implementing the marketing mix
B) maintaining economies of scale
C) discovering new markets
D) branding products
Answer: C
Q2) The micro environment consists of larger societal forces that affect a company,such as demographic,economic,political,and cultural forces.
A)True
B)False
Answer: False
Q3) Using interviews and ethnographies to gather customer insights produces general findings that can be applied to the mass market.
A)True
B)False
Answer: False
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Chapter 3: Situation Assessment - the Company
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Sample Questions
Q1) The triple bottom line is best defined as a(n)________.
A) metric used to evaluate new and current employees
B) accounting database used by globalized firms of all sizes
C) assessment system for financial and nonfinancial outcomes
D) designation assigned to firms exhibiting corporate social responsibility
Answer: C
Q2) What essential elements should be included in a firm's mission and vision statements? How are mission and vision statements relevant to a firm's marketing plans?
Answer: Mission and vision statements should be the primary stipulations and records of what the organization is,why it exists,what its values are,how it does business,and what it intends to become.It is in the mission and vision that the company clarifies its goals.The words goal and objective are used to distinguish desired results and conditions that are longer-term and general (goals)from desired results or conditions that are short-term and specific (objectives).Goals are specified in mission and vision statements; objectives are related to marketing plans,to specified time periods,and to specific marketing mixes.
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Page 5
Chapter 4: Strategy Formation
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Q1) Most marketers use either a SWOT analysis or a(n)________ when they need to identify the best markets to target with a specific product.
A) decision model
B) perceptual map
C) demographic survey
D) strength/attractiveness matrix
Q2) Which of the following is LEAST likely to be considered a competitive advantage for a firm?
A) rare capabilities
B) valuable resources
C) substitutable products
D) transferable technology
Q3) When New Port Shipping uses segmented marketing,the firm targets several segments and offers a unique product tailored to each one.This approach is called ________ marketing.
A) undifferentiated
B) differentiated
C) concentrated
D) niche
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Page 6
Chapter 5: Implementation
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Q1) ________ is the process of collecting,analyzing,and interpreting data about customers,competitors,and the business environment to improve marketing effectiveness.
A) Marketing management
B) Marketing research
C) Strategic management
D) Internal marketing
Q2) To attract a target audience of 25- to 35-year-olds,Godiva began running advertisements that resembled fashion advertisements.Godiva also began purchasing ad space in Vogue and Vanity Fair.In doing so,Godiva altered the ________ element of its marketing-mix strategy.
A) place
B) price
C) product
D) promotion
Q3) Detailed decisions about pricing and promoting a product occur during the positioning stage of marketing.
A)True
B)False
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Chapter 6: Planning,assessment,and Adjustment
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Q1) ________ is the managerial decision process that matches the organization's resources and capabilities to its market opportunities for long-term growth.
A) Operational planning
B) Strategic planning
C) Portfolio analysis
D) SWOT analysis
Q2) According Frederick Reichheld,the Net Promoter Index is a strong indicator of ________.
A) consumer acquisition costs
B) future corporate growth
C) portfolio expansion
D) core competencies
Q3) Which of the following would LEAST likely be used to forecast future sales of a product?
A) market interval scales
B) sales force estimates
C) expert opinions
D) market tests
Q4) How can staircase analysis improve the accuracy of sales forecasting?
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Chapter 1: Note : Market Definition
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Q1) Gatorade,Coca-Cola,Red Bull,and Tropicana would most likely be competitors in which level of substitution?
A) product type
B) product variant
C) product category
D) budget competition
Q2) Defining a market primarily depends on the ________ that customers seek and the ________ that customers consider.
A) benefits; alternatives
B) brands; products
C) markets; benefits
D) products; prices
Q3) A product's market defines all of the following factors EXCEPT ________.
A) competitors
B) market share
C) marketing mix
D) potential substitutes
Q4) Why is it important to define a market? What are the two most important premises to consider when defining a market?
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Chapter 2: Note : Context: Pest Analysis
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Q1) A firm that adapts its marketing mix to local environments benefits from lower production costs.
A)True
B)False
Q2) Since the introduction of the iPhone,a booming market for smartphone applications has emerged.It is most accurate to say that this new opportunity was created through changes in the ________ environment.
A) political and legal
B) technological
C) sociocultural
D) economic
Q3) The retail industry has embraced the globalization of markets more than any other industry.
A)True
B)False
Q4) Which type of company would most likely experience countercyclical sales?
A) auto parts retailer
B) boat manufacturer
C) furniture retailer
D) pharmaceutical manufacturer
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Chapter 3: Note : Customer Assessment - Trends and Insights
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Q1) Which term refers to the broad,wide-ranging,and exploratory scrutiny of customers and their needs?
A) customer assessment
B) customer positioning
C) customer-oriented metrics
D) customer relationship management
Q2) Cool-hunting is a type of judgment-based forecasting method that involves studying fashion,lifestyles,and contemporary culture.
A)True
B)False
Q3) Econometric and judgment-based forecasting methods typically project trends five to six years into the future.
A)True
B)False
Q4) How can marketers identify marketplace trends? Discuss the various methods available for identifying trends.
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Chapter 4: Note : Consumer and Organizational Buyer
Behavior
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Q1) The buyer decision process consists of five stages.Which of the following is NOT one of these stages?
A) post-purchase processes
B) consumption awareness
C) information search
D) need recognition
Q2) Research indicates that consumers are spending an increasing amount of time on the information search stage of the consumer decision-making process because of the availability of information on the Internet.
A)True
B)False
Q3) During the information search stage of the consumer decision-making process,consumers often turn to marketer-controlled sources,such as product Websites and brochures.Which of the following is a problem associated with these sources of information?
A) increasing clutter
B) increasing complexity
C) increasing regulatory laws
D) increasing development costs
Page 12
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Chapter 5: Note : Competitor Analysis - Competitive Intelligence
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Q1) Which area of a competitor analysis involves making assessments rather than predictions about the competition?
A) strengths and weaknesses
B) long-term objectives
C) marketing tactics
D) strategies
Q2) When analyzing the strengths and weaknesses of a competitor,a marketer should first ________.
A) identify similarities with the competitor's product
B) determine the success factors in a market
C) predict the competitor's next actions
D) review fluctuations in the market
Q3) Discussing a competitor's strategies and marketing tactics with shared customers should be avoided during a competitor analysis because of the potential conflict of interest.
A)True
B)False
Q4) As a marketer,how would you benefit from assessing the strengths and weaknesses of a competitor What steps should you follow when conducting such an analysis?
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Chapter 6: Note : Company Assessment - Missions and Visions
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Q1) A marketing plan is a type of functional-level strategy.
A)True
B)False
Q2) What are the four primary functions of a corporate-level strategy within a multi-business company?
Q3) Which of the following is a true statement about business-level strategies?
A) They should align with the firm's vision, mission, and corporate strategy.
B) They should encompass a longer time frame than the firm's corporate strategy.
C) They should primarily address the firm's cash flow and risk management issues.
D) They should passionately convey the future of the firm as envisioned by its stakeholders.
Q4) The ________ of Nike is "to experience the emotion of competition,winning,and crushing competitors."
A) corporate strategy
B) core purpose
C) visionary goal
D) core values
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Chapter 7: Note : Company Assessment - the Value Chain
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Q1) Firm X performs the individual activities of its value chain more efficiently than is competitors.Firm X most likely has a ________.
A) strategic plan
B) cost advantage
C) core competency
D) differentiation advantage
Q2) The primary purpose for conducting a value chain analysis is to ________.
A) identify target markets
B) analyze consumer trends
C) generate a profit margin
D) assess competitor strengths
Q3) What is a value chain? Why are the individual activities of the value chain important to a firm's overall strategy?
Q4) The ________ element of the value chain relates to activities such as receiving and warehousing.
A) outbound logistics
B) inbound logistics
C) procurement
D) infrastructure
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Chapter 8: Note : Industry Analysis
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Q1) Which of the following would most likely be a useful tool when analyzing future changes in an industry?
A) strategic priority analysis
B) customer value chain
C) inbound logistics
D) product life cycle
Q2) According to Michael E.Porter,all of the following are forces that shape industry competition EXCEPT the ________.
A) expansion of global markets
B) bargaining power of buyers
C) threat of substitute products
D) rivalry of existing competitors
Q3) Which of the following factors is LEAST likely to increase a rivalry between existing industry competitors?
A) high exit barriers
B) high industry growth
C) undifferentiated products
D) numerous competitors of equal size
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Chapter 9: Note : the Product Life Cycle
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Q1) During the development and introduction stages of the product life cycle,consumers are primarily interested in the ________ of a product.
A) performance
B) appearance
C) convenience
D) price
Q2) Which of the following would most likely delay commoditization?
A) selling product accessories online
B) developing a new marketing mix
C) upgrading an existing product
D) lowering the price of a product
Q3) Single segments are more likely to split into multiple segments during the growth stage of the product life cycle as customer needs become increasingly specific.
A)True
B)False
Q4) The maturity stage of the product life cycle is typically characterized by a slowdown in sales growth.
A)True
B)False
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Chapter 10: Note : Experience Curve Effects on Cost Reduction
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Q1) Computing the experience curve most likely helps a marketer to ________.
A) predict a product's life cycle stage
B) retain loyal business customers
C) develop a pricing strategy
D) improve a mature product
Q2) A firm's profitability depends on experience curve effects.
A)True
B)False
Q3) According to the law of experience,unit costs decline by ________ each time cumulative output ________.
A) one-half; doubles
B) a fixed percent; doubles
C) a varying percent; triples
D) one-third; increases at an equal rate
Q4) An experience curve is primarily dependent on the ________.
A) product life cycle
B) marketing mix
C) industry
D) economy
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Chapter
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Sample Questions
Q1) According to the text,________ enable Coca-Cola to spend less advertising dollars per case of soft drinks than Schweppes spends.
A) value chains
B) fixed output costs
C) economies of scale
D) market share strategies
Q2) What is economies of scale? How can a firm achieve economies of scale?
Q3) Which of the following would most likely occur if a firm exceeded its optimal production volume?
A) Unit costs would decrease with each additional unit.
B) Development costs would decrease unit costs.
C) Fixed costs would increase unit costs.
D) Unit costs would equal fixed costs.
Q4) All of the following are most likely characteristics of firms with economies of scale EXCEPT ________.
A) technology specialization
B) market segmentation
C) labor specialization
D) purchasing power
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Chapter
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Q1) Economies of scope is a common reason for firms that pursue diversification strategies.
A)True
B)False
Q2) Harvey Industries manufactures and sells fine wood furniture.The company uses the sawdust generated by the production of its furniture products to make particle board.The particle board is then used in the construction of inexpensive furniture that the firm sells in retail stores,such as Walmart.Which term best describes how the firm uses sawdust?
A) horizontal brand extension
B) economies of scale
C) by-product synergy
D) product bundling
Q3) Producing a diverse number of products leads to economies of scale,and producing a high volume of products leads to economies of scope.
A)True
B)False
Q4) What is the difference between economies of scale and economies of scope? How can a firm create economies of scope?
20
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Chapter 13: Note : Market-Share Effects
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Q1) According to research,which of the following is LEAST likely to lead to both higher margins and higher market share for a firm?
A) human resource orientation
B) effective management
C) quality products
D) resource access
Q2) In most cases,market share correlates with a firm's ________.
A) culture
B) profitability
C) ancillary sales
D) marketing mix
Q3) Which of the following would most likely provide information about the relationships between a firm's activities,strategies,and results?
A) PIMS data
B) MEP chart
C) BCG matrix
D) SWOT analysis
Q4) What are the positive and negative effects of a strategy based on gaining market share?
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Chapter 14: Note : Scenario Analysis
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Q1) What is the final step in the scenario analysis process?
A) assessing strategic alternatives
B) developing multiple scenarios
C) identifying significant drivers
D) planning for each scenario
Q2) What is a scenario analysis? What are the basic steps involved in conducting a scenario analysis?
Q3) When developing scenarios for analysis and planning,it is best to choose ________ within each driver.
A) a single level
B) all possible levels
C) the most likely levels
D) a few different levels
Q4) Scenario analysis is primarily useful for ________.
A) short-term strategizing
B) internal assessment
C) long-term strategizing
D) economic assessment
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Chapter 15: Note : the Marketing Concept
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Q1) During the production era of the early twentieth century,the supply of goods exceeded consumer demand,so efficient manufacturing processes were required to maintain profitability.
A)True
B)False
Q2) A lonely consumer who is too busy meeting critical needs to think about having a social life most likely has a(n)________.
A) motive
B) latent need
C) apparent want
D) unrecognized want
Q3) When backed by buying power,wants become ________.
A) demands
B) exchanges
C) social needs
D) self-esteem needs
Q4) In most cases,firms evolve from a production focus to a market focus.
A)True
B)False
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Chapter 16: Note : What Is a Marketing Strategy
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Q1) Which of the following tools would most likely be used when determining how a firm will serve customers and their needs?
A) value chain analysis
B) portfolio analysis
C) pricing matrix
D) client surveys
Q2) Which term refers to the coordinated means by which an organization pursues its goals and objectives?
A) vision
B) strategy
C) mission
D) code of ethics
Q3) "Where's the pain?" refers to ________,and "Where's the magic?" refers to ________.
A) geographic markets; customer demands
B) target segments; competitive advantages
C) economies of scope; economies of scale
D) core competencies; target markets
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Chapter 17: Note : Generic Strategies - Advantage and Scope
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Q1) Cost leaders typically implement a top-down approach,produce goods for mass markets,and operate efficiently.
A)True
B)False
Q2) An employee of a firm that follows a differentiation strategy would most likely be encouraged to share creative ideas and experiment with innovative concepts.
A)True
B)False
Q3) Generic marketing strategies are typically categorized along any of the following dimensions EXCEPT ________.
A) brand loyalty
B) cost leadership
C) competitive scope
D) product differentiation
Q4) For a firm to maintain a position of cost leadership,________ is critical.
A) market share
B) product innovation
C) brand personality
D) labor specialization
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Chapter
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Q1) Which method is the best for assessing product performance?
A) rank order
B) rating scale
C) conjoint analysis
D) constant sum scales
Q2) What is the value frontier? How do marketers benefit from understanding the value frontier?
Q3) The generic strategy of superior customer value is difficult to implement because it requires balancing differentiation with competitive pricing.
A)True
B)False
Q4) Which generic strategy would most likely lead to a strong increase in market share and an average 29% ROI?
A) differentiation
B) superior customer value
C) cost leadership
D) inferior customer value
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Chapter 19: Note : Generic Strategies - Product-Market
Growth Strategies
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Q1) Which of the following is NOT one of the adjacency paths described by Chris Zook?
A) new businesses
B) new geographies
C) new profit pools
D) new customer segments
Q2) Bisquick,a General Mills brand,includes numerous recipes on the back of each box of baking mix.General Mills is most likely using a strategy of ________.
A) product development
B) market development
C) market penetration
D) diversification
Q3) Which growth strategy has the lowest probability of success?
A) diversification
B) market development
C) product development
D) market penetration
Q4) What is a diversification strategy? How can a firm reduce the risks associated with diversification?
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Chapter 20: Note : Specific Marketing Strategies
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Q1) Which offensive strategy involves addressing needs or market segments that a competitor has neglected?
A) bypass
B) flanking
C) guerilla
D) encirclement
Q2) What is a disadvantage of using the follower strategy?
A) Value chains are unclear.
B) The market needs to be educated.
C) Innovation costs and risks are high.
D) The most attractive market position has been taken.
Q3) Which strategy is characterized by inconsistent brand image,limited subsidiary control,and high marketing costs?
A) multinational strategy
B) exporting strategy
C) international strategy
D) licensing strategy
Q4) What is a transnational strategy? Why has this market entry strategy become increasingly popular? What are the advantages and disadvantages of a transnational strategy?
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Chapter 21: Note : Market Segmentation
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Q1) Geographic variables remain a significant factor in market segmentation,while behavioral variables have declined become less useful.
A)True
B)False
Q2) The first step of the segmentation process is to ________.
A) select the target segments
B) identify segmentation variables
C) develop a profile of individual segments
D) group customers into homogeneous segments
Q3) Which type of segmentation is most related to the use of the word when,such as when consumers get the idea to buy,when they actually make their purchase,or when they use the purchased item?
A) psychographic
B) demographic
C) geographic
D) behavioral
Q4) What is the primary purpose of market segmentation? What characteristics should segments possess for a firm to make a profit?
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Sample Questions
Q1) What is the recommended strategy for dealing with small wallets?
A) make product alterations
B) improve customer service
C) implement cross-selling
D) lower product costs
Q2) Individuals who really like a product and recommend the product to others most likely have ________ loyalty.
A) attitudinal
B) demographic
C) behavioral
D) psychographic
Q3) Which strategic action would be most appropriate for highly profitable,short-term customers?
A) focus on up- and cross-selling
B) attempt to gain attitudinal loyalty
C) try to achieve transactional satisfaction
D) communicate frequently and consistently
Q4) What is the purpose of a customer relationship management program? How do such systems benefit marketers?
To
Chapter 23: Note : Customer Lifetime Value
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Q1) According to research,it costs a firm five to seven times more to acquire a new customer than to keep an existing customer.
A)True
B)False
Q2) Which term refers to the cash flow from new customer relationships through customers' word-of-mouth?
A) networking potential
B) core business potential
C) learning potential
D) cross-selling potential
Q3) The customer portfolio matrix categorizes customers based on ________ and ________.
A) share-of-wallet; production costs
B) customer loyalty rate; market share
C) market share; customer loyalty rate
D) share-of-wallet; customer attractiveness
Q4) How can a customer portfolio help marketers with customer relationship management? What are the four types of customers identified in a customer portfolio? As a marketer,on which types of customers would you primarily focus?
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Chapter 24: Note : Competitive Advantages
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Q1) When identifying competitive advantages,comparisons made between a firm and its strongest competitors should be based on ________.
A) managerial inputs
B) customer opinions
C) industry analysts
D) expert reviews
Q2) According to a market-based view of strategy development,the attractiveness of an industry is determined by all of the following EXCEPT ________.
A) transferable resources of organizations
B) bargaining powers of suppliers
C) rivalries among competitors
D) threats from new entrants
Q3) According to the market-based view of strategy development,the success of a firm most likely depends on ________.
A) organizational resources
B) industry attractiveness
C) employee strengths
D) customer loyalty
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Chapter 25: Note : Swot Analysis
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Q1) The primary purpose of using a SWOT analysis is to ________.
A) avoid exposure to threats
B) eliminate internal weaknesses
C) change weaknesses into strengths
D) match opportunities and strengths
Q2) Opportunities and threats arise from internal sources such as inadequate employee skills and ineffective technology.
A)True
B)False
Q3) Which quadrant of a SWOT analysis matrix should a firm's strategies be based upon?
A) strengths-opportunities
B) strengths-threats
C) weaknesses-opportunities
D) weaknesses- threats
Q4) In a SWOT analysis,which of the following would be considered a strength?
A) technological advancements
B) political environment
C) internal resources
D) market trends
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Chapter 26: Note : Targeting
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Q1) An undifferentiated marketing strategy will most likely be successful if the
A) product or service has wide appeal
B) market has many strong competitors
C) product is sold primarily to businesses
D) market segment demands superior value
Q2) A company would most likely adopt an undifferentiated targeting strategy in order to ________.
A) remove the need for clear positioning
B) reduce production and advertising costs
C) more efficiently focus on its CRM strategy
D) compete successfully in a highly competitive market
Q3) Which type of differentiated marketing involves focusing on one market segment with one product?
A) segment specialization
B) selected specialization
C) product specialization
D) full market coverage
Q4) What are the two primary marketing strategies? What are the advantages and disadvantages of each approach?
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Chapter 27: Note : Positioning
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Q1) Unserved or underserved markets are referred to as ________.
A) white space
B) niche markets
C) intangible assets
D) target segments
Q2) Semantic scales are appropriate positioning tools when a marketer needs to collect data about consumer perceptions of a product's attributes.
A)True
B)False
Q3) All of the following are typically included in position statements EXCEPT the ________.
A) target segment
B) competitors' features
C) unique product features
D) specific product category
Q4) In multidimensional scaling,brand positions represent cost and quality.
A)True
B)False
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Chapter 28: Note : Customer-Oriented Market Research
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Q1) Information collected from government publications is an example of secondary data.
A)True
B)False
Q2) Which of the following is a benefit associated with conducting market research?
A) low costs
B) risk reduction
C) quick implementation
D) streamlined decision-making
Q3) ________ is information collected for the purpose of addressing a current research question.
A) Primary data
B) Secondary data
C) Syndicated research
D) Exploratory research
Q4) Data collected through UPC codes at retail stores is most likely ________.
A) syndicated research
B) qualitative research
C) descriptive research
D) causal research
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Chapter 29: Note : Brands and Branding
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Q1) Millward Brown's BrandDynamics model is a commercial tool for measuring brand strength based on categories such as performance,presence,and relevance.
A)True
B)False
Q2) The consumer backlash caused by the introduction of New Coke indicated that the brand equity of Coca-Cola relied heavily on brand ________.
A) sponsorships
B) communities
C) promotion
D) heritage
Q3) Marketing communications effectively build brand equity if they are consistent and focused.
A)True
B)False
Q4) Hierarchical models for measuring brand strength enable marketers to ________.
A) determine the financial value of a brand
B) communicate a consistent brand image
C) assess marketing mix investments
D) strengthen brand heritage
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Chapter 30: Note : Products - New Product Development
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Q1) New product development begins with ________.
A) business analysis
B) concept testing
C) idea generation
D) test marketing
Q2) Product improvements,product modifications,and original products can all be classified as ________.
A) new products
B) product concepts
C) pioneer products
D) exploratory products
Q3) Once a new product passes the business analysis test,it moves into which stage of the development process?
A) product launching
B) prototype testing
C) concept testing
D) mass marketing
Q4) In a brief essay,discuss the issues of timing and cannibalization as they relate to the product launch phase of new product development.
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Chapter 31: Note : Products - Innovations
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Q1) What is the first step in the adoption process of an innovation?
A) gaining awareness of a product
B) understanding a product
C) evaluating a product
D) purchasing a product
Q2) How can a marketing strategist influence the rate of diffusion through the attributes of an innovation?
Q3) The diffusion curve maps directly to the product life cycle.
A)True
B)False
Q4) Which tool is most useful for understanding new product innovation in strategic marketing?
A) Kano model
B) product life cycle
C) demographic analysis
D) customer value frontier
Q5) Inter-consumer communication typically drives the acceptance or failure of innovative new products.
A)True
B)False
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Chapter 32: Note : Products - Product Portfolios
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Q1) Based on the BCG matrix,which of the following is NOT necessarily a characteristic of a well-managed portfolio?
A) products in each stage of the product life cycle
B) business units in each quadrant
C) balanced cash flow
D) balanced risk
Q2) Which of the following is a true statement about the BCG matrix?
A) Cash cows require no investment.
B) Dogs typically have fluctuating cash flow.
C) Stars require only minimal investment.
D) Question marks typically have negative cash flow.
Q3) In the BCG matrix,cash cows are characterized by ________ market share and ________ market growth.
A) low; low
B) high; high
C) high; low
D) low; high
Q4) Stars in the BCG matrix are typically market leaders in low-growth markets.
A)True
B)False
Page 40
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Chapter 33: Note : Pricing Strategies
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Q1) A firm sets high prices for a product innovation and lowers the price as the product moves into other stages of the product life cycle.The firm is most likely using a pricing strategy of ________.
A) market skimming
B) product positioning
C) market penetration
D) maximum current profit
Q2) Car rental agencies charge low prices to customers who book a car months in advance and high prices to customers who book a car one day in advance.Which tactic is most likely being used by car rental agencies?
A) complementary pricing
B) yield management
C) prestige pricing
D) market penetration
Q3) Market skimming is a short-term price objective that involves setting a minimum price that equals direct variable costs.
A)True
B)False
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Q1) Task-based budgeting requires management to articulate the relationship between dollars spent and strategic marketing objectives.
A)True
B)False
Q2) A marketer would most likely use an FCB Grid to ________.
A) identify market segments with unmet needs
B) determine the ROI of a marketing campaign
C) understand consumer motivation
D) evaluate the firm's SBUs
Q3) Which of the following is NOT a method used for setting a communications budget?
A) task-based method
B) integrated method
C) percentage-of-sales method
D) competitive-parity method
Q4) Which of the following is the LEAST controllable element of the communications mix?
A) buzz marketing
B) personal selling
C) direct marketing
D) point-of-purchase sales
Chapter 35: Note : Place - Distribution
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Q1) Which of the following is most likely a facilitating function?
A) making a desired number of products available
B) providing technical support for customers
C) making payments to manufacturers
D) holding products until needed
Q2) Which of the following would a firm most likely hire as a logistics supplier?
A) SKU
B) jobber
C) 3PL
D) middleman
Q3) Sorting,storing,and transporting products are transactional functions.
A)True
B)False
Q4) Different,complementary functions are delivered to the same customers through different,parallel channels in a(n)________ distribution system.
A) multiple-channel
B) independent
C) arms-length
D) hybrid
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Q1) In marketing,a(n)________ is a specific,desired result tied to a specific time frame.
A) goal
B) mission
C) objective
D) investment
Q2) Which sales forecasting method would be the LEAST expensive option for a firm?
A) market tests
B) expert opinions
C) customer surveys
D) sales force estimates
Q3) Forecasting,budgeting,setting objectives,and developing the marketing mix are sequential activities that require effective planning by managers.
A)True
B)False
Q4) Which of the following is a semi-fixed marketing cost?
A) marketing research
B) public relations
C) promotions
D) discounts
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Chapter 37: Note : Staircase Analysis
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Q1) How should a marketer interpret a big difference between unaided and aided recall in a staircase analysis?
A) The brand is weak in its product category.
B) Consumers buy the product based on price.
C) The brand is unattractive to many consumers.
D) Consumers wait for promotions to buy the product.
Q2) A staircase analysis is a tool used by marketers to ________.
A) develop specific objectives
B) create innovative products
C) assess competitors' strengths
D) analyze strategic business units
Q3) When using a staircase analysis,what is the first question that should be asked?
A) How many customers are completely satisfied?
B) What brand awareness exists in the market?
C) What is the market potential?
D) What is the market share?
Q4) The share of wallet is an indicator of growth potential.
A)True
B)False
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Chapter 38: Note : Assessment and Adjustment
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Q1) Which type of financial ratio measures the extent that a firm generates value for shareholders?
A) debt ratio
B) activity ratio
C) liquidity ratio
D) dividend ratio
Q2) Financial ratios and marketing metrics should be the focus of premise control.
A)True
B)False
Q3) A firm is most likely using ________ when it identifies and corrects a marketing problem in order to obtain forecasted results.
A) progress control
B) SWOT analysis
C) premise control
D) staircase analysis
Q4) Current ratios and acid-test ratios are types of liquidity ratios.
A)True
B)False
Q5) What is a financial ratio? Why should marketers be pay close attention to financial ratios?
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