Page 1 1. (TCO 4) Which of the following are measures used by marketing executives? (Points : 5) market share cost per lead retention rate cost per click All of the above measures are used by marketing executives.2. (TCO 1) Ideally, in effective marketing planning, goals should be __________ in terms of what is to be accomplished and when. (Points : 5) loose and vague as general as possible flexible or elastic quantified and measurable none of the above 3. (TCO 3) Which marketing strategy focuses its efforts on a single product line and market segment? (Points : 5) full coverage market specialization product specialization selective specialization market-product concentration 4. (TCO 1) Based on relative competitive scope (broad target to narrow target) and source of competitive advantage (lower cost to differentiation), Porter’s four generic business strategies are differentiation, cost focus, differentiation focus, and (Points : 5) exclusivity electronic-focus. quality focus. cost leadership. service leadership. 5. (TCO 2) Which of the following pieces of information is used in the implementation phase of the strategic marketing process? (Points : 5) corporate return on investment organizational charts and job descriptions revenues associated with each point of market share trends in past and current revenues for industry and competitors in total and by segment possible cannibalization effects on other products in the line 6. (TCO 6) Which of the following pieces of information is used in the second step of the planning phase of the strategic marketing process? (Points : 5) corporate return on investment market potential studies revenues associated with each point of market share trends in past and current revenues for industry and competitors in total and by segment possible cannibalization effects on other products in the line 7. (TCO 3) The first decision in developing an advertising program is to (Points : 5) set the budget. state the mission of the advertising program. identify the target audience. select the appeal. select the media. 8. (TCO 2) The proper blend of elements in the promotional mix depends on the type of product. The three specific characteristics to be considered are __________, risk, and ancillary services. (Points : 5) Complexity Size Durability Accessibility Acceptability 9. (TCO 4) The promotional objective of the decline stage of the product life cycle is to (Points : 5) inform persuade compare remind do none of the above.10. (TCO 2) The promotional mix includes __________, personal selling, sales promotion, public relations, and direct marketing. (Points : 5) promotion channel communication chain marketing matrix advertising media mix 11. (TCO 8) Which of the following statements about the terms used for marketing intermediaries is true? (Points : 5) The least precise terms used to describe marketing intermediaries are dealer and distributor. A retailer sells to business markets. An agent has no legal authority to act on behalf of a manufacturer. A wholesaler is an intermediary who sells to consumers. A broker is a synonym for a dealer. 12. (TCO 7) Price fixing is (Points : 5) an arrangement a manufacturer makes with a reseller to handle only its products and not those of a competitor. the practice of charging a very low price for a product with the intent of driving competitors out of business. the practice of charging different prices to different buyers for goods of like grade and quality. a conspiracy among firms to set prices for a product. a seller’s requirement that the purchaser of one product also buy another product in the line. 13. (TCO 2) Pricing objectives may change depending on (Points : 5) the financial position of the company as a whole. the success of company products. the segments in which the company is doing business. where the company is doing business by country. all of the above. 14. (TCO 3) The ratio of perceived benefits to __________ is called value. (Points : 5) price prestige value value-added pricing value analysis perceived costs 15. (TCO 6) Market segmentation involves aggregating prospective buyers into groups that have common needs and will (Points : 5) pay attention to marketing messages. respond similarly to a marketing action. be responsive to marketing research. use the same payment methods. go shopping on a regular basis. 16. (TCO 5) A company engaged in environmental scanning is (Points : 5) taking into account the effect its marketing activities can have on plants and animals in our environment. continually acquiring information on events occurring outside the organization to identify and interpret potential trends. maintaining a time constant horizon in its strategic planning process. maintaining retail customer databases. requiring all employees to spend time outside the office to avoid the ivory tower syndrome. 17. (TCO 1) A key role of the marketing department is to (Points : 5) allocate financial resources across business units. set the overall mission of the company. provide talent management services. look outward. assess global political situations. 18. (TCO 1) Which of the following acts as a barrier to the development of relationship marketing? (Points : 5) changes in the demographic nature of society the ever-increasing usage of the Internet for consumer purchases the onset of new cultural traditions a population with a median age of 50 recent terrorists’ activities
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