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Marketing Chapter 2 Multiple Choice

17 Questions
Marketing Chapter 2 Multiple Choice

Marketing chapter two concepts, multiple-choice

Questions and Answers
  • 1. 
    Which of the following is one of the three basic marketing management jobs?
    • A. 

      To direct the implementation of plans

    • B. 

      To control the plans in actual operation

    • C. 

      To plan marketing activities

    • D. 

      All of the above

  • 2. 
    The marketing management process:
    • A. 

      Includes the on-going job of planning marketing activities.

    • B. 

      Is mainly concerned with obtaining continuous customer feedback.

    • C. 

      Involves finding opportunities and planning marketing strategies, but does not include the management tasks of implementing and control.

    • D. 

      Is called "strategic planning."

    • E. 

      Both a and d are true statements.

  • 3. 
    A marketing strategy consists of two interrelated parts.  These are:
    • A. 

      Selection of a target market and implementing the plan.

    • B. 

      Selection of a target market and development of a marketing mix.

    • C. 

      Selection and development of a marketing mix.

    • D. 

      Finding attractive opportunities and developing a marketing mix.

    • E. 

      Finding attractive opportunities and selecting a target market.

  • 4. 
    Marketing strategy planners should recognize that:
    • A. 

      Target markets should not be large and spread out.

    • B. 

      Mass marketing is often very effective and desirable.

    • C. 

      Firms like General Electric, Sears, and Procter & Gamble are too large to aim at clearly defined markets.

    • D. 

      Target marketing is not limited to small market segments.

    • E. 

      The terms "mass marketing" and "mass marketers" mean essentially the same thing.

  • 5. 
    A marketing mix consists of:
    • A. 

      Policies, procedures, plans, and personnel.

    • B. 

      The customer and the "four Ps."

    • C. 

      All variables, controllable and uncontrollable.

    • D. 

      Product, price, promotion, and place.

    • E. 

      None of the above.

  • 6. 
    Which of the following statements about marketing mix variables is FALSE?
    • A. 

      "Promotion" includes personal selling, mass selling, and sales promotion.

    • B. 

      The term "Product" refers to services as well as physical goods.

    • C. 

      A channel of distribution does not have to include any middlemen.

    • D. 

      Generally speaking, "Price" is more important than "Place."

    • E. 

      The needs of a target market virtually determine the nature of an appropriate marketing mix.

  • 7. 
    A "marketing plan":
    • A. 

      Is just another term for "marketing strategy."

    • B. 

      Consists of several "marketing programs."

    • C. 

      Includes the time-related details for carrying out a marketing strategy.

    • D. 

      Is a strategy without all the operational decisions.

    • E. 

      Ignores implementation and control details.

  • 8. 
    • A. 

      Solicit orders from any new, financially attractive, solutions.

    • 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.

  • 9. 
    A "marketing program":
    • A. 

      Is another name for a particular marketing mix.

    • B. 

      Blends several different marketing plans.

    • C. 

      Consists of a target market and the marketing mix.

    • D. 

      Is primarily concerned with all of the details of implementing a marketing plan.

    • E. 

      Must be set before a target market can be selected.

  • 10. 
    Which of the following statements about customer equity is FALSE?
    • A. 

      Expected losses depend on customer equity.

    • B. 

      If the parts of a firm's marketing program work well together, it should increase the firm's customer equity.

    • C. 

      Expected profits depend on customer equity.

    • D. 

      If a firm has more than one marketing strategy, ti will likely decrease the firm's customer equity.

    • E. 

      None of the above is false.

  • 11. 
    The watch industry example in the text serves to illustrate that:
    • A. 

      Good implementation and control is usually more important than good planning.

    • B. 

      There are a limited number of potential target markets.

    • C. 

      An effective marketing strategy guarantees future success.

    • D. 

      Consumers want only high-quality products.

    • E. 

      A successful strategy often involves a marketing mix that is very different from what competitors have offered.

  • 12. 
    The text's discussion of "death-wish marketing" suggests that
    • A. 

      Firms that don't spend more on marketing than their competitors are likely to fail.

    • B. 

      Managers who seek big breakthroughs, rather that going after easier to achieve marketing opportunities, face big risks and are likely to fail.

    • C. 

      It is fairly common for marketing efforts to turn out poorly, so to avoid that fate and get better than average results, a good manager needs to use a logical process for marketing strategy planning.

    • D. 

      Getting good marketing results is really quite easy as long as the marketing manager focuses on the 4 Ps.

    • E. 

      All of the above are good answers.

  • 13. 
    A breakthrough opportunity
    • A. 

      Is an opportunity that gives a firm some sort of competitive advantage.

    • B. 

      Can usually be achieved by copying the "best practices" of other firms that sell similar products.

    • C. 

      Is one that helps an innovator develop a hard-to-copy marketing strategy that will be very profitable for a long time.

    • D. 

      Is one that requires the firm to "breakthrough" its current resource limitations to obtain a new type of competitive advantage.

    • E. 

      Is usually achieved by making better operational decisions.

  • 14. 
    Breakthrough opportunities:
    • A. 

      Are so rare that they should be pursued even when they do not match the firm's resources and objectives.

    • B. 

      Seldom occur within or close to a firm's present markets.

    • C. 

      Are especially important in our increasingly competitive markets.

    • D. 

      Are those which a firm's competitors can copy quickly.

    • E. 

      Are best achieved by trying to hold onto a firm's current market share.

  • 15. 
    Differentiation means that
    • A. 

      The firm should aim its efforts at a target market that is different from a target market that a competitor would find attractive.

    • B. 

      A firm's marketing mix is distinct from and better than what is available from a competitor.

    • C. 

      A firm uses its resources in a different way than competitors use their resources.

    • D. 

      A firm should screen out opportunities using different criteria than those used by other firms.

    • E. 

      When a firm's marketing strategy is not going well it should change to a different set of operational decisions.

  • 16. 
    A S.W.O.T. analysis includes:
    • A. 

      Strengths

    • B. 

      Weaknesses

    • C. 

      Opportunities

    • D. 

      Threats

    • E. 

      All of the above

  • 17. 
    When a firm tries to increase sales by selling its present products in new markets, this is called:
    • A. 

      Market penetration

    • B. 

      Market development

    • C. 

      Product development

    • D. 

      Diversification

    • E. 

      Market integration