Marketing Planning
Exam Answer Key
Course Introduction
Marketing Planning explores the strategic process organizations use to develop comprehensive marketing strategies aligned with business objectives. This course covers market analysis, segmentation, targeting, positioning, and the development of actionable marketing plans. Students learn to set marketing goals, allocate resources, and coordinate the marketing mix elements product, price, place, and promotion to achieve competitive advantage. Practical applications include case studies and the creation of marketing plans that respond to real-world business challenges, preparing students for roles in brand management, market research, and strategic planning within diverse industries.
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) 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
Q2) What are the two generic frameworks of most marketing strategies?
A) niche scope, target segmentation
B) competitive advantage, globalization
C) customer intimacy, competitive scope
D) competitive advantage, competitive scope
Answer: D
Q3) According to the product-market growth framework,a firm's strategic growth can only occur through market penetration.
A)True
B)False
Answer: False
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Chapter 2: Situation Assessment - the External Environment
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Q1) Which stage of the marketing process primarily involves monitoring the environment,evaluating the firm's core competencies,and anticipating future events?
A) market segmentation
B) situation assessment
C) budget analysis
D) positioning
Answer: B
Q2) 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
Q3) Which term refers to increases in unit costs as production increases?
A) vicious circle
B) economies of scope
C) diseconomies of scale
D) experience curve effects
Answer: C
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Page 4
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) Which of the following collects customer satisfaction data for the purpose of measuring marketing strategies and troubleshooting product malfunctions?
A) marketing information system
B) supplemental marketing tool
C) consumer marketing database
D) strategic marketing matrix
Answer: A
Q3) Clear marketing objectives primarily help a firm to ________.
A) assess a competitor's strengths
B) motivate global sales representatives
C) achieve decision-making consistency
D) monitor business-to-business accounts
Answer: C
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Page 5
Chapter 4: Strategy Formation
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Sample Questions
Q1) How can a firm benefit from segmenting the market?
Q2) Which of the following best describes a differentiated marketing strategy of product specialization?
A) one product and one segment
B) many products and one segment
C) one product and many segments
D) many products and many segments
Q3) 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
Q4) Which type of market coverage strategy requires a firm to have the most detailed understanding of its target market?
A) behavioral target marketing
B) undifferentiated marketing
C) niche marketing
D) mass marketing
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Chapter 5: Implementation
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Q1) Which term refers to a group of marketing variables a business controls with the intent of claiming a place in customers' minds?
A) segments
B) marketing mix
C) product platform
D) position statement
Q2) Data that has been collected for some other purpose than to answer the question at hand is called ________.
A) quantitative data
B) demographic data
C) secondary data
D) primary data
Q3) Marketers would most likely use ________ research to come up with ideas for new strategies and opportunities or to generate specific issues for future research.
A) causal
B) exploratory
C) descriptive
D) experimental
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7
Chapter 6: Planning,assessment,and Adjustment
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Q1) According to the generic marketing plan presented in the text,which of the following would NOT be included in the projections section?
A) risks
B) budgets
C) weaknesses
D) profit models
Q2) It is standard practice that marketing budget allocations be based on a percentage of past sales and profits.
A)True
B)False
Q3) All of the following factors would most likely be evaluated in a staircase analysis EXCEPT ________.
A) potential market
B) brand awareness
C) marketing mix
D) purchase rate
Q4) How can staircase analysis improve the accuracy of sales forecasting?
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8
Chapter 1: Note : Market Definition
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Q1) For short-term budgeting purposes,it is best to use a broad market definition rather than one based on product variants.
A)True
B)False
Q2) What is the lowest level of competition?
A) generic competition
B) budget competition
C) product category
D) product variant
Q3) Brand-switching data is collected from customers who have indicated a willingness to pay more for a product with specific features.
A)True
B)False
Q4) 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
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Chapter 2: Note : Context: Pest Analysis
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Q1) Cultures are dynamic,so marketers must constantly monitor the values,norms,attitudes,and tastes of a marketing context.
A)True
B)False
Q2) Extensive customization of a product offered in different international markets would most likely defeat which of the following benefits of global trade?
A) lower labor costs
B) lower production costs
C) higher quality materials
D) higher consumer consumption
Q3) The retail industry has embraced the globalization of markets more than any other industry.
A)True
B)False
Q4) In a brief essay,discuss the advantages and disadvantages of standardization strategies and adaptation strategies in a global environment.
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Chapter 3: Note : Customer Assessment - Trends and Insights
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Q1) Curve fitting methods are most likely popular with managers and forecasters because such methods ________.
A) require few data points
B) predict dependent variables
C) focus on demographic elements
D) rely on customer quality reports
Q2) All of the following would most likely be identified through customer assessment EXCEPT ________.
A) customer insights
B) customer segments
C) trends in customer needs
D) trends in customer demands
Q3) MECCAs help organize customer insight information gathered through ethnographic research.
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) Business-to-business marketing differs from consumer marketing in that business-to-business marketing ________.
A) typically involves competitive bidding and price negotiations
B) usually has one person involved in purchase decisions
C) heavily emphasizes advertising in the marketing mix
D) relies upon frequent impulse purchases
Q2) Consumers often rely on decision guidelines,or mental rules-of-thumb,when weighing the merits of competing brands.These rules are referred to as ________.
A) affects
B) attitudes
C) heuristics
D) cognitions
Q3) Consumer demand for a product derives from a combination of ________ and ________.
A) needs; wants
B) ability; beliefs
C) wants; ability
D) needs; benefits
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Chapter 5: Note : Competitor Analysis - Competitive Intelligence
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Q1) Sales people are useful resources when assessing the strengths and weaknesses of a competitor due to their regular interaction with customers.
A)True
B)False
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) When conducting a competitor analysis,a marketer should first investigate the competitor's ________.
A) marketing mix
B) product offerings
C) long-term objectives
D) customer loyalty ratings
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?
Page 13
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Chapter 6: Note : Company Assessment - Missions and Visions
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Q1) 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.
Q2) What are the four primary functions of a corporate-level strategy within a multi-business company?
Q3) 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
Q4) Visionary goals should be inspiring but not necessarily achievable.
A)True
B)False
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Chapter 7: Note : Company Assessment - the Value Chain
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Q1) A company has a significant competitive advantage when it is more efficient than a rival in a value chain activity of high strategic importance.
A)True
B)False
Q2) Primary activities of a typical value chain relate to the creation or delivery of a product and include areas such as information management,process improvement,and employee compensation.
A)True
B)False
Q3) 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
Q4) In a typical value chain,service is considered a support activity rather than a primary activity.
A)True B)False
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Chapter 8: Note : Industry Analysis
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Q1) An industry with a high concentration of buyers and undifferentiated products is most likely highly competitive.
A)True
B)False
Q2) Which of the following industries has the highest average profitability?
A) hotels
B) airlines
C) soft drinks
D) grocery stores
Q3) In which of the following situations is the bargaining power of suppliers especially strong?
A) Products are highly specialized.
B) Suppliers rely on single customers.
C) Customers have low switching costs.
D) Affordable, substitute products exist.
Q4) How do potential substitutes threaten sales in an industry? Illustrate your answer with specific examples.
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Chapter 9: Note : the Product Life Cycle
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Q1) Which of the following would most likely increase competition during the maturity stage of the product life cycle?
A) differentiation
B) excess capacity
C) commercialization
D) inadequate promotion
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) In which stage of the product life cycle would a firm most likely use price promotions and reminder advertising to encourage customers to replace worn-out items?
A) growth
B) decline
C) maturity
D) introduction
Q4) What factors typically lead to price-based competition in the product life cycle?
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Chapter 10: Note : Experience Curve Effects on Cost Reduction
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Q1) Which of the following is LEAST likely to affect the experience curve?
A) technical progress
B) labor redesign
C) specialization
D) segmentation
Q2) According to the law of experience,unit costs cannot be predicted,but they can be reduced.
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) A firm with a higher market share will most likely experience a higher return on investment.
A)True
B)False
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Chapter
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Q1) Diseconomies of scale would most likely occur for all of the following reasons EXCEPT
A) production volume exceeds capacity
B) size of firm too large to manage
C) employees lack motivation
D) technology too specialized
Q2) Achieving economies of scale is most important to a firm with ________.
A) high research and development costs
B) complicated organizational structures
C) numerous international market segments
D) multiple business-to-business customers
Q3) Market leaders are typically less efficient than firms with lower share because larger firms suffer from bureaucratic logistical issues.
A)True
B)False
Q4) Ford and Toyota are most likely able to achieve economies of scale by ________.
A) increasing distribution distances
B) serving global market segments
C) segregating specialized workers
D) exceeding production capacities
Page 19
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Chapter 12: Note : Economies of Scope-Synergies and Virtuous Circles
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Q1) A firm can create economies of scope by using one manufacturing facility for a range of products.
A)True
B)False
Q2) A firm that manufactures ________ would most likely gain an economy of scope.
A) limited quantities of products
B) large numbers of products
C) many different products
D) one type of product
Q3) What is the difference between economies of scale and economies of scope? How can a firm create economies of scope?
Q4) Economies of scope exist when a firm saves money by ________.
A) using a resource in multiple activities
B) assessing the customer value chain
C) merging with a smaller firm
D) selling products globally
Q5) Economies of scope is a common reason for firms that pursue diversification strategies.
A)True
B)False
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Chapter 13: Note : Market-Share Effects
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Q1) Which of the following indicates how well a firm is succeeding in comparison to a competitor?
A) value map
B) fixed costs
C) market share
D) experience curve
Q2) According to PIMS data,a strong correlation exists between ________ and ________.
A) productivity; marketing mix
B) profitability; market share
C) productivity; market share
D) profitability; marketing strategies
Q3) Which of the following is LEAST likely to be associated with the firm that has the higher market share?
A) learning curve effects
B) economies of scale
C) economies of scope
D) higher profitability
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) Which of the following is the LEAST relevant factor when defining the scope of a scenario analysis?
A) time frame
B) industry
C) consumer
D) market
Q2) Scenario analysis is primarily useful for ________.
A) short-term strategizing
B) internal assessment
C) long-term strategizing
D) economic assessment
Q3) As a marketer,you have already defined the scope of a scenario analysis.What should you do next?
A) develop comprehensive scenarios
B) choose a specific time frame
C) analyze selected scenarios
D) identify industry drivers
Q4) The use of scenario analysis necessitates precise forecasting data.
A)True
B)False
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Chapter 15: Note : the Marketing Concept
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Q1) All of the following are accurate descriptions of a market orientation,EXCEPT which one?
A) Marketing creates value for customers.
B) Marketing involves satisfying customers' needs.
C) Marketing requires conducting extensive market research.
D) Marketing involves managing profitable customer relationships.
Q2) 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
Q3) ________ are human needs as shaped by individual personality and culture.
A) Exchanges
B) Values
C) Demands
D) Wants
Q4) What is the marketing concept? How do firms benefit from having a market orientation?
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Chapter 16: Note : What Is a Marketing Strategy
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Q1) A comprehensive marketing strategy should include a broad definition of the target market as well as a flexible time schedule for meeting various objectives.
A)True
B)False
Q2) A comprehensive marketing strategy should specify what needs the firm will meet in order to achieve ________.
A) niche market segmentation
B) product customization
C) sustainable differentiation
D) customer consolidation
Q3) What is a marketing strategy? What are the most important issues and tasks that should be addressed by a marketing strategy?
Q4) While developing a comprehensive marketing strategy,a firm needs to determine where it will conduct business.Which tool would be most useful?
A) experience curve matrix
B) product-market growth analysis
C) SWOT analysis
D) Porter's generic strategies
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Chapter 17: Note : Generic Strategies - Advantage and Scope
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Q1) A firm can gain competitive advantage through a marketing strategy of either ________ or ________.
A) product differentiation; globalization
B) curve effects; process innovation
C) cost leadership; differentiation
D) integration; standardization
Q2) 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
Q3) Hybrid strategies that combine differentiation and cost leadership are increasingly popular because they are easily implemented.
A)True
B)False
Q4) What characteristics are associated with firms that follow a cost leadership strategy and a differentiation strategy? Illustrate your answer with examples of firms that follow these two different strategies.
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Chapter 18: Note : Generic Strategies - the Value Map
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Q1) A product that falls below the fair value zone of a value map is perceived to deliver benefits that are ________ the product's cost.
A) greater than
B) less than
C) equal to
D) unrelated to
Q2) Which method is the best for assessing product performance?
A) rank order
B) rating scale
C) conjoint analysis
D) constant sum scales
Q3) The importance-performance-analysis method is most useful during the strategy formulation process when ________.
A) defining the market
B) assessing competitors
C) defining an action plan
D) estimating price sensitivity
Q4) What is the value frontier? How do marketers benefit from understanding the value frontier?
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Chapter 19: Note : Generic Strategies - Product-Market
Growth Strategies
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Q1) Which growth strategy has the lowest probability of success?
A) diversification
B) market development
C) product development
D) market penetration
Q2) Research indicates that most firms are more successful at winning new customers than at winning back lost customers.
A)True
B)False
Q3) According to Chris Zook,a firm can reduce the risks associated with any growth strategy by ________.
A) conducting extensive market research
B) eliminating value-chain activities
C) focusing only on B2B customers
D) building from core strengths
Q4) A company implementing a diversification strategy through forward integration would most likely acquire a supplier.
A)True
B)False
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Chapter 20: Note : Specific Marketing Strategies
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Q1) A firm using the follower strategy will most likely enter the market with a(n)________.
A) new product that has never been seen
B) product sold domestically and abroad
C) improved version of an existing product
D) adaptation of an online international product
Q2) What is the primary disadvantage of a joint venture?
A) lack of local market knowledge
B) imbalanced sharing of risks
C) ineffective standards
D) differences in culture
Q3) A follower strategy may lead to limited market share because first movers have taken the best customer segments.
A)True
B)False
Q4) The flexibility and low costs associated with exporting make the strategy popular among companies entering international markets for the first time.
A)True
B)False
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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) Which of the following criteria is it most important that a segment meet in order to be profitable for a firm?
A) be underserved by competitors
B) be demographically diverse
C) have similar loyalty rates
D) have measurable needs
Q3) Your new employer has asked you,as a new marketing graduate,to identify a group of potential customers who might respond in a similar way to a given set of marketing efforts.You have been asked to identify a(n)________.
A) market segment
B) target market
C) market strategy
D) market
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Q1) A firm should make the greatest communication,customer relationship management,and service investments towards which group of customers?
A) high-loyalty, low profitability
B) high-loyalty, high-profitability
C) low-loyalty; low profitability
D) low-loyalty; high profitability
Q2) Research indicates that word-of-mouth referrals are more likely than price deals to result in the acquisition of loyal customers.
A)True
B)False
Q3) Items priced at or below costs in order to attract customers are known as ________.
A) market wreckers
B) loss-leaders
C) cross-sellers
D) barnacles
Q4) What is the purpose of a customer relationship management program? How do such systems benefit marketers?
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Chapter 23: Note : Customer Lifetime Value
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Q1) What is indicated by a net promoter score?
A) customer satisfaction with a product
B) customer attachment to a brand
C) customer lifetime value
D) customer profitability
Q2) In most cases,a long-term customer relationship is ________ a short-term customer relationship.
A) more profitable than
B) less profitable than
C) as profitable as
D) no different than
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
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Chapter 24: Note : Competitive Advantages
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Q1) 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
Q2) According to modern strategic management theories,the best competitive advantages are ________.
A) exploitable in other markets
B) based on customer demands
C) research oriented
D) intangible
Q3) Studies show that the resource-based view more accurately predicts firm-level success than the market-based view.
A)True
B)False
Q4) The strategic importance of value chain activities varies by industry.
A)True
B)False
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Chapter 25: Note : Swot Analysis
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Q1) Opportunities and threats arise from internal sources such as inadequate employee skills and ineffective technology.
A)True
B)False
Q2) 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
Q3) In terms of a SWOT analysis,a strength is best defined as something that the firm does ________.
A) better than the competition
B) with consistency
C) really well
D) profitably
Q4) How can regular environmental scanning improve the effectiveness of a SWOT analysis? What environmental factors pose opportunities and threats?
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Chapter 26: Note : Targeting
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Q1) A firm that uses a product specialization strategy would most likely ________.
A) focus on one product that is tailored to one market segment
B) develop many products for one market segment
C) focus on one product that is tailored to all market segments
D) develop many products for all market segments
Q2) Target market selection should most likely NOT be based on ________.
A) segment rivalries
B) strategic objectives
C) core competences
D) economies of scope
Q3) Coca-Cola has shifted to an undifferentiated marketing approach by offering sugar-free drinks,caffeine-free drinks,and family-size bottles.
A)True
B)False
Q4) A firm that implements a differentiated marketing program will most likely have a complex organizational structure and diluted benefits of scale.
A)True
B)False
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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) La Quinta sends surveys to customers asking them to rate attributes of the hotel chain from 1-to-5 where "1" means "very unpleasant" and "5" means "very pleasant." Which tool is La Quinta most likely using for brand positioning?
A) semantic scales
B) perceptual maps
C) customer value maps
D) positioning statements
Q3) What enables a firm to retain a position?
A) differentiating
B) targeting
C) segmenting
D) branding
Q4) What is a positioning statement? What are the characteristics of an effective positioning statement?
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Chapter 28: Note : Customer-Oriented Market Research
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Q1) What is the most common form of causal research?
A) questionnaires
B) interviews
C) experiments
D) online surveys
Q2) Market research is beneficial when a marketing program needs to be fine-tuned prior to launching a product.
A)True
B)False
Q3) One purpose of ________ research is to gather preliminary information that will help divide a broad research problem into small problems for subsequent research.
A) causal
B) experimental
C) descriptive
D) exploratory
Q4) What is the difference between quantitative data and qualitative data? As a marketer,how should you utilize both types of research?
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Chapter 29: Note : Brands and Branding
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Q1) A brand is best defined as a product's ________.
A) logo
B) trademark
C) official trade dress
D) commercial identity
Q2) Which term refers to nonfuctional elements of a product such as package shape,design,and color?
A) trade dress
B) trademark
C) identity
D) logo
Q3) What is the first step in building a brand?
A) brainstorming advertising copy
B) selecting a spokesperson
C) forming a positioning statement
D) searching for sponsorships
Q4) Brand valuation tools calculate the effectiveness of a specific marketing mix on building brand equity.
A)True
B)False
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Chapter 30: Note : Products - New Product Development
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Q1) Which phase of the new product development process specifies the target market and estimates production costs?
A) prototype and market testing
B) concept development
C) business analysis
D) idea selection
Q2) Which of the following would best enable a marketer to measure the utility a customer attaches to a new product's features?
A) Kano model
B) SWOT analysis
C) conjoint analysis
D) virtual reality test
Q3) Which of the following is a true statement regarding research and development?
A) R&D investments produce equivalent profits.
B) Research refers to incremental changes in product design.
C) The law of diminishing returns applies to R&D investments.
D) Development refers to basic product explorations undertaken by a firm.
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) Which of the following is a true statement about the rate of diffusion?
A) Costly innovations will diffuse more quickly in the market.
B) Highly complex innovations are more quickly adopted by laggards.
C) Customers are more likely to try a product if the price of change is low.
D) News reports about new product innovations are more influential than inter-consumer communications.
Q2) 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
Q3) How can a marketing strategist influence the rate of diffusion through the attributes of an innovation?
Q4) The behaviors,knowledge,and equipment needed to use a product are known as ________.
A) consumption patterns
B) process innovations
C) relative qualities
D) adaptive tools
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Chapter 32: Note : Products - Product Portfolios
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Q1) What is the main difference between the BCG Matrix and the GE/McKinsey Grid?
A) The GE/McKinsey Grid uses a higher number of variables than the BCG Matrix.
B) The BCG Matrix evaluates strategic business units, and the GE/McKinsey Grid does not.
C) The GE/McKinsey Grid relies more heavily on market attractiveness than the BCG Matrix.
D) The BCG Matrix generates more specific strategic guidelines than the GE/McKinsey Grid.
Q2) 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
Q3) Unlike the BCG Matrix,the GE/McKinsey Grid benefits from a high level of objectivity.
A)True
B)False
Q4) What are some of the limitations of the BCG matrix?
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Chapter 33: Note : Pricing Strategies
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Q1) Product costs set a ________ to a product's price.
A) floor
B) ceiling
C) demand curve
D) break-even cost
Q2) A firm is most likely using a ________ pricing strategy when it introduces a product at a very low price to gain market share quickly.
A) razorblade
B) skimming
C) penetration
D) survival
Q3) 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
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Chapter 34: Note : Promotion and People - Integrated Marketing Communications
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Q1) A firm that wants to ________ would most likely use a public relations campaign.
A) develop brand awareness
B) establish credibility
C) reach mass markets
D) show vivid images
Q2) Which of the following has the greatest reach?
A) trade promotions
B) viral marketing
C) personal selling
D) direct marketing
Q3) In a buying center,the ________ serves as an expert about an aspect of the purchase.
A) gatekeeper
B) influencer
C) buyer
D) user
Q4) Task-based budgeting requires management to articulate the relationship between dollars spent and strategic marketing objectives.
A)True
B)False
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Chapter 35: Note : Place - Distribution
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Q1) What is the first step in designing a channel strategy?
A) benchmarking the firm's capabilities
B) understanding customer needs
C) assessing channel alternatives
D) evaluating intermediaries
Q2) Taking possession and then selling goods is a ________ function.
A) hybrid
B) logistical
C) facilitating
D) transactional
Q3) Which of the following would a firm most likely hire as a logistics supplier?
A) SKU
B) jobber
C) 3PL
D) middleman
Q4) What are the three primary forces that affect channel dynamics and distribution results? Why is it important for marketers to be aware of these forces?
Q5) Sorting,storing,and transporting products are transactional functions.
A)True
B)False
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Q1) Both target costing and the percentage of sales method fail to consider the causal relationship between target sales and the marketing budget.
A)True
B)False
Q2) A staircase analysis would be most likely used by a marketer to ________.
A) calculate market share
B) modify the marketing mix
C) estimate future sales volume
D) develop communication tools
Q3) The purpose of a market forecast is to estimate future ________.
A) sales in an industry
B) budget constraints
C) sales of a product
D) market share
Q4) Which method of determining a marketing budget relies primarily on the previous year's budget?
A) extrapolation
B) target costing
C) percentage of profits
D) bottom-up budgeting
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Chapter 37: Note : Staircase Analysis
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Q1) What does a gap in a staircase analysis most likely represent?
A) misidentified market segments
B) shrinking brand loyalty
C) lost potential sales
D) outdated products
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) The ________ consists of all possible buyers with the need and financial resources for a specific product.
A) segment
B) cross sellers
C) actual market
D) market potential
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) Current ratios and acid-test ratios are types of liquidity ratios.
A)True
B)False
Q2) 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
Q3) A firm's ability to meet all interest payments and fixed-charge obligations would best be measured with a ________ ratio.
A) debt
B) activity
C) liquidity
D) profitability
Q4) The primary purpose of using marketing metrics is to ________.
A) identify the performance of a business unit
B) correct problems with the marketing strategy
C) determine what factors drive a firm's performance
D) evaluate the assumptions underlying a marketing plan
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