Quiz Detail

Q1 . A S.W.O.T. analysis includes:

A Strengths

B Weaknesses

C Opportunities

D Threats

E All of the above

Q2 . Which of the following is three basic marketing management job?

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

Q3 . 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.

Q4 . A company decides to implement a penetration pricing strategy for its new product launch. Which of the following statements accurately describes this pricing strategy?

A The company sets a high initial price and then gradually lowers it over time.

B The company sets a price equal to the cost of production plus a predetermined profit margin.

C The company sets a low initial price to capture market share quickly.

D The company sets a price based on competitors' prices in the market.

Q5 . 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.

Q6 . Which of the following is NOT a characteristic of a monopolistic competition market structure in marketing?

A Many buyers and sellers

B Product differentiation

C Perfect substitutes

D Non-price competition

Q7 . In the context of marketing research, which of the following sampling techniques is considered non-probability sampling?

A Simple random sampling

B Systematic sampling

C Quota sampling

D Cluster sampling

Q8 . 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.

Q9 . 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.

Q10 . 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.

Q11 . 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.

Q12 . 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

Q13 . 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.

Q14 . 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.

Q15 . 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, it will likely decrease the firm's customer equity.

E None of the above is false.

Q16 . 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.

Q17 . 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.

Q18 . 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.

Q19 . 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.

Q20 . Which of the following would NOT require an operational decision for a leading hair color manufacturer?

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.

Marketing Chapter Multiple Choice Quiz Questions!