Chapter 1 - California State University, Bakersfieldecarter2/SP11 490/Midterm Exam Pool Items.doc · Web viewThe marketer should monitor the following trends in technology, EXCEPT

MIDTERM EXAM POOL ITEMS(MKTG 490; F2K8; Dr. Carter)

Chapter 1

1. The most formal definition of marketing is ________. a. meeting needs profitablyb. identifying and meeting human and social needsc. the 4Ps (Product, Price, Place, Promotion)d. an organizational function and a set of processes for creating, communicating, and

delivering, value to customers, and for managing customer relationships in ways that benefit the organization and its stake holders.

e. improving the quality of life for consumersAnswer: d

2. A ________ is a written document that summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives.a. strategic planb. marketing planc. sales pland. target market plane. competitive analysis plan

Answer: b

3. The four elements of the “marketing mix” include all of the following EXCEPT ___?a. Productb. Peoplec. Promotiond. Pricee. All of the above are marketing mix elements

Answer: b

4. Which of the “marketing mix” elements address wholesalers and retailers?a. Productb. Peoplec. Promotiond. Pricee. None of the above

Answer: e

1


5. Marketing Planning is a process in which the 4th step is to: a. Plan segmentation, targeting, positioningb. Understand markets and customersc. Plan, direction, objectives, marketing supportd. Develop marketing strategies and programse. None of the above

Answer: c

6. Marketing Planning is a process in which the 3rd step is to: a. Plan segmentation, targeting, positioningb. Understand markets and customersc. Plan, direction, objectives, marketing supportd. Develop marketing strategies and programse. None of the above

Answer: a

7. Marketing Planning is a process in which the 6th step is to: a. Plan segmentation, targeting, positioningb. Understand markets and customersc. Plan, direction, objectives, marketing supportd. Develop marketing strategies and programse. None of the above

Answer: e

8. ________ marketing has the aim of building mutually satisfying long-term relations with key parties such as customers, suppliers, distributors, and other marketing partners in order to earn and retain their business.a. Holistic b. Demand-based c. Direct d. Relationshipe. Synthetic

Answer: d

9. Which marketing Planning stage entails deciding whether to pursue business-to-customer (B2C) or business-to-business (B2B) markets?a. Plan segmentation, targeting, positioningb. Understand markets and customersc. Plan, direction, objectives, marketing supportd. Develop marketing strategies and programse. None of the above

Answer: a

2


10. Which three strengths that are developed when “Preparing for Marketing Planning”? a. knowledge of company, core competencies, and financial resourcesb. knowledge of customers and markets, core competencies, and financial resourcesc. knowledge of customers and markets, knowledge of company, and relationshipsd. core competencies, relationships, and financial resourcese. None of the above

Answer: e

11. Which of the following is NOT one of the five guiding principles to contribute to customer value and stay competitive? a. build brand awareness b. emphasize relationshipsc. seek alliancesd. gain market sharee. a & d

Answer: e

12. Which of the following is NOT a “Network of Alliances” category? a. Customersb. Channel Membersc. Suppliersd. Plannerse. All of the above are Network of Alliance categories

Answer: d

13. Which of the following is NOT a “Network of Alliances” category? a. Communityb. Technologyc. Suppliersd. Partnerse. All of the above are Network of Alliance categories

Answer: b

14. What is the strategic logic of the “Six Approaches to Growth” matrix? a. Match products and markets b. Manage growth direction by pursuing sustainable marketingc. Measure marketing planning based on how in many different squares are enteredd. Model the ideal market scenario assuming no resource limitations or competitione. None of the Above

Answer: b

15. Which of the following “Six Approaches to Growth” requires the least resources? a. Penetrate existing markets b. Expand to new geographic marketsc. Innovate product offers for existing marketsd. Diversifye. None of the Above

Answer: a3


16. Which of the following “Six Approaches to Growth” is best for Oil companies pursuing wind energy generation? a. Penetrate existing markets b. Expand to new geographic marketsc. Innovate product offers for existing marketsd. Diversifye. None of the Above

Answer: d

17. Which of the following “Six Approaches to Growth” requires the greatest change? a. Penetrate existing markets b. Expand to new geographic marketsc. Innovate product offers for existing marketsd. Diversifye. None of the Above

Answer: d

18. Which of the following “Six Approaches to Growth” is best for Oil companies facing declining U.S. gasoline demand? a. Penetrate existing markets b. Expand to new geographic marketsc. Innovate product offers for existing marketsd. Diversifye. None of the Above

Answer: b

19. Which of the following “Six Approaches to Growth” is best for Oil companies preparing for bio-fuel and electric automobiles globally? a. Penetrate existing markets b. Expand to new geographic marketsc. Innovate product offers for existing marketsd. Diversifye. None of the Above

Answer: c

20. Which of the following “Six Approaches to Growth” is best for Oil companies to respond to global commodity speculation? a. Penetrate existing markets b. Expand to new geographic marketsc. Innovate product offers for existing marketsd. Diversifye. None of the Above

Answer: e

4


Chapter 2

1. The two types of strategic factors required to map an effective marketing plan are:a. supply and demandb. macroenvironment and microenvironmentc. past and futured. internal and externale. None of the aboveAnswer: b

2. The two types of environmental scanning that must be done for SWOT analysis are:a. supply and demandb. macroenvironment and microenvironmentc. past and futured. internal and externale. None of the aboveAnswer: d

3. With the rapidly changing global picture, the firm must monitor seven major forces. All of the following would be among those forces EXCEPT ________.

a. demographicb. economicc. social-culturald. globale. ecological

Answer: d

4. The main demographic force that marketers monitor is(are) ________. a. suppliers

b. populationc. communication (such as advertising)d. government reports dealing with birth rates e. competitors

Answer: d

5. Marketers need to be aware of threats and opportunities associated with four trends in the ecological environment. All of the following are among those trends EXCEPT ________. a. the shortage of raw materialsb. the increased cost of energyc. near 90 percent corporate support for “green causes”d. increased pollution levelse. the changing role of governments

Answer: c

5


6. The marketer should monitor the following trends in technology, EXCEPT ________, if progress is to be made in business.

a. global digital technology penetrationb. high technology company stock pricesc. cutting edge innovationsd. industry technology standards e. government technology regulation

Answer: b

7. A S.W.O.T. analysisa. seeks to improve strategy planning by "Scanning for Warnings, Omens, and Tips"

about competitors' plans.b. is not necessary if competitors have already entered the market.c. defends against potential competitive threats by planning specific "safeguards,

weapons, or tactics."d. should help a manager develop a strategy that leads to a competitive advantage.e. None of the above is a good answer.

Answer: d

8. A S.W.O.T. analysis can help a marketing manager:a. define what business and markets the firm wants to compete in.b. narrow down strategic market options from the many alternatives available.c. see the pros and cons of different possible strategies.d. develop a competitive advantage.e. all of the above.

Answer: e

9. A S.W.O.T. analysis ___a. focuses on what a firm plans to do to "Satisfy Wishes Of a Target" customer.b. summarizes a firm's "strategy, wishes (of its customers), outlook and tactics."c. helps defend against potential competitors by developing a set of competitive

"safeguards, weapons, offensives, and tactics."d. identifies a firm's "strengths, weaknesses, opportunities and threats."e. seeks to reduce the risk of competitive surprises by scanning the market for

"signals, warnings, omens, and tips."Answer: d

10. The marketer should monitor the following trends in technology, EXCEPT ____a. global digital technology penetrationb. high technology company stock pricesc. cutting edge innovationsd. industry technology standards e. government technology regulation

Answer: b

6


11. The categories of sources for Environmental Scanning include:a. past, present, futureb. paid, unpaid, sharedc. company, industry, governmentd. hardcopy, electronically saved, and online e. None of the above

Answer: e

12. Internal environment analysis do NOT include:a. missionb. resourcesc. offeringsd. projected results e. All of the above are included in internal environment analysis

Answer: d

13. Which of the following is NOT included in the 5 competitive forces? a. Industry competitorsb. Potential entrantsc. Brokersd. Supplierse. All of the above are included in the 5 competitive forces

Answer: c

14. Which factor is best to judge strengths and weaknesses in the current financial industry a. Past performance trendsb. Comparison against competitorsc. Specific goals or targetsd. Personal opinion of strategic decision makerse. All of the above

Answer: c

15. Which of the external environment elements impact on the current financial industry most? a. Demographicsb. Economicsc. Ecologicald. Competitivee. None of the above

Answer: b

7


Chapter 3

1. A “market” is defined as ___a. all of the buyers for a particular productb. all potential buyers for a particular productc. all future buyers for a particular productd. all of the targeted buyers for a potential producte. None of the aboveAnswer: b

2. The two primary types of “markets” to analyze are ___a. consumers and customersb. private and publicc. paying and nonpayingd. male and femalee. None of the aboveAnswer: e

3. A “broad definition of the market” includes all of the following levels EXCEPT?a. Potentialb. Availablec. Quantifiedd. Targete. b & cAnswer: c

4. For the rental car market, a driver who can afford rental fees in the service area is ___a. Potential marketb. Available marketc. Target marketd. Penetrated markete. None of the aboveAnswer: b

5. What is used by marketing planners as a “vital sign” of marketplace potential or problems?a. Market shareb. Customer satisfactionc. Sales trendsd. Demand forecastse. All of the aboveAnswer: a

8


5. Which of the following is NOT a primary research source for consumer markets?a. U.S. Census Bureaub. Consumer Reportsc. United Nations statisticsd. NAICS datae. b & dAnswer: e

6. Which of the following is NOT a primary research source for business markets?a. U.S. Census Bureaub. Industry Weekc. United Nations statisticsd. NAICS datae. a & cAnswer: e

7. What are the two main market research methods?a. consumer and businessb. survey and focus groupc. empirical and ethnographicd. domestic and globale. None of the aboveAnswer: e

8. Which of the following is NOT a primary influence on consumers?a. Cultural considerationsb. Statistical considerationsc. Personal factorsd. All of the abovee. None of the aboveAnswer: b

9. Which of the following is NOT a primary influence on business customers?a. Organizational commitmentsb. Organizational coordinationc. Organizational contributionsd. All of the abovee. None of the aboveAnswer: e

9


10. Which “broad market” level applies to upscale health clinic patients without insurance?a. Potential marketb. Available marketc. Qualified availabled. Target markete. Penetrated marketAnswer: a

11. Which “broad market” level applies to insured heart patients at a cancer center?a. Potential marketb. Available marketc. Qualified availabled. Target markete. Penetrated marketAnswer: c

12. Which “broad market” level applies to insured mothers with children visiting a pediatric clinic for a follow-up appointment?

a. Potential marketb. Available marketc. Qualified availabled. Target markete. Penetrated marketAnswer: e

13. Which “broad market” level applies to upscale health clinic patients without insurance?a. Potential marketb. Available marketc. Qualified availabled. Target markete. Penetrated marketAnswer: a

14. Which “influences on consumers” do NOT apply to cosmetic surgery patients?a. Cultural considerationsb. Social considerationsc. Personal factorsd. All of the above DO APPLYe. None of the above APPLYAnswer: d

15. Which “influences on business customers” applies MOST to online purchasers of medical supply planning to store products in inventory

a. Organizational connections – digital network participantsb. Organizational considerations – derived demandAnswer: a

10


Chapter 4

1. A ________ consists of a group of customers who share a similar set of needs and wants.

a. market targetb. market groupc. market sliced. market segmente. market level

Answer: d

2. If a marketer decides that segmenting a market based on neighborhoods, the marketer will have chosen the ________ method of segmentation. a. demographicb. psychographicc. geographicd. culturale. social class

Answer: c

3. ________ is the science of using psychology and demographics to better understand consumers. a. Psychographicsb. Segmentationc. Clusteringd. Demographicse. Social psychology

Answer: a

4. A marketing manager is considering several options to market to market segments identified as being either culture-oriented, sports-oriented, or outdoor-oriented. This manager has selected the ________ format for segmenting markets. a. personalityb. behavioral occasionsc. user statusd. psychographic lifestylee. readiness stage

Answer: d

11


5. The two ways that large firms can cover a whole market (e.g., full market coverage strategy) are through ________ and differentiated marketing. a. undifferentiatedb. logisticalc. psychologicald. nichee. macromarketing

Answer: a

6. In ________ marketing, the firm operates in several market segments and designs different products for each segment. a. segmentedb. undifferentiatedc. differentiatedd. geodemographic e. niche

Answer: c

7. Business markets can be segmented according to the following variables, EXCEPT __. a. demographicb. geographicc. psychographicd. behavioral e. All of the above can be used for business markets

Answer: c

8. When “assessing segment attractiveness” which of the following factors is NOT included?a. Market factorsb. Ecological factorsc. Competitive factorsd. Business environment factorse. All of the above are included

Answer: b

9. Volatile economic fluctuations in a selected market segment is addressed by ___a. Market factorsb. Community factorsc. Economic and technological factorsd. Business environment factorse. All of the above are included

Answer: d

12


10. How are marketers gaining deeper insights to sharpen the focus on segment customers?a. Probesb. Personasc. Portraitsd. Profilese. None of the above

Answer: b

11. Which strategic technique is intended to achieve “meaningful differentiation”?a. brandingb. diversificationc. positioningd. value propositione. None of the above

Answer: c

12. Which pair strategic techniques profiles the extrinsic and intrinsic customer factors?a. external and internal environmentsb. tangibles and intangiblesc. segmentation and positioningd. monetary and nonmonetary e. None of the above

Answer: c

13. Positioning techniques chart the brand values and benefits using a ___a. bar chartb. lifestyle mapc. perceptual mapd. trend graphe. None of the above

Answer: d

14. U.S. automotive market segmentation for hybrid and eco-friendly cars uses ___a. Demographic profilesb. geographic profilesc. psychographic profilesd. All of the abovee. None of the above

Answer: c

15. U.S. automotive companies position sports cars using ___a. affordabilityb. luxuryc. convenienced. fuel economye. None of the above

Answer: e

13


Chapter 5: Planning Direction, Objectives and Marketing Support

1. Which of the following is NOT a Marketing Plan direction “objective”?f. specific, time-defined, and measurableg. realistic yet convenienth. consistent with organization mission and goalsi. absence of conflict with other objectivesj. All of the above are on the “checklist” for Marketing Plan objectives

Answer: b

16. Which of the following sets of options are included in Marketing Plan “directions”?a. growth, marketing, resourcesb. goals, maintenance, resourcesc. goals, marketing, reinventiond. growth, maintenance, reinventione. None of the above

Answer: e

17. Growth direction strategies in clued ____a. two existing and two new categoriesb. one existing and three new categoriesc. three existing and one new categoriesd. four new categoriese. All of the above

Answer: b

18. Growth direction strategies are based on which two variables?a. products and management b. products and marketingc. planning and managementd. planning and marketinge. None of the above

Answer: e

19. Which planning direction is appropriate for situations of rising costs, slower sales and lower profit?a. market penetrationb. maintenancec. reengineeringd. retrenchmente. None of the above

Answer: d

20. Which of the following is NOT one of the basic types of “marketing plan objectives”?a. marketingb. financialc. strategicd. societale. All of the above are types of marketing plan objectives

14


Answer: c

21. Which of the following is NOT example of a “marketing” direction plan objective?a. customer recognitionb. channel relationshipsc. market shared. order fulfillmente. All of the above are “marketing” direction plan objectives

Answer: a

22. Which of the following is NOT example of a “financial” direction plan objective?a. sales revenueb. profitabilityc. resource investmentd. break-evene. All of the above are “marketing” direction plan objectives

Answer: c

23. Which of the following is NOT example of a “societal” direction plan objective?a. conservationb. reduce wealthc. issue awarenessd. community involvemente. All of the above are “marketing” direction plan objectives

Answer: b

24. What is the “planning marketing support” process for building managers and staff relationships?a. interactive marketingb. inclusive marketingc. intensive marketingd. interpersonal marketinge. None of the above

Answer: e

25. Which of the following statements is true about the role of “customer service” in marketing support?a. customer service influences customer perceptions but not actual purchase

responsesb. customer service is regarded as a marketing factor that is separate from the

product or brandc. customer service can enhance the brand’s image and allow price increasesd. customer service can make up for a bad product or spotty distributione. None of the above is true about customer service

Answer: c

15


26. The two basic categories of “planning marketing support” are ___a. internal marketing objectives and customer service objectivesb. strategic marketing objectives and service measurement objectivesc. internal monetary objectives and customer measurement objectivesd. internal marketing objectives and customer segmentation objectivese. None of the above

Answer: a

27. Which of the following is NOT a category of customer service needs based on the buying process? a. for saleb. before the sale c. at the point of the saled. after the sale e. All of the above

Answer: a

28. What are the three levels of the “strategy pyramid”?a. strategy, timing, process b. strategy, tactics, processc. strategy, tactics, programsd. strategy, timing, programse. None of the above

Answer: c

29. Which “strategy pyramid” level includes “online retailing”?a. strategyb. timingc. programsd. tacticse. None of the above

Answer: c

16

Documents

Chapter 1 - California State University, Bakersfieldecarter2/SP11 490/Midterm Exam Pool Items.doc · Web viewThe marketer should monitor the following trends in technology, EXCEPT