Chapter 01 - What is marketing?

Question 1

One of the following is the correct definition of marketing used by the Chartered Institute of Marketing and the others are fundamentally flawed. Which one is correct?

b) Marketing is the activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large.

Question 2

A builder who has a full order book during a period of economic prosperity and leaves his potential customers waiting for work to be completed is most likely showing what type of business orientation?

c) Production orientation

Question 3

How old are the principles and practices of marketing? Which of the following represent the oldest instances of individuals or organizations practising the principles of marketing?

a) The traders of ancient Greece.

Question 4

Is marketing an art or a science? Marketing differs from the natural sciences because:

a) Marketing tends to deal with open systems whereas the natural sciences tend to deal with closed systems.

Question 5

Positivist approaches to marketing are essentially based on which of the following approaches?

c) Methodologies which are robust and repeatable.Question 6

During the late 1990s, retailers of organic vegetables in the UK were unable to be truly market oriented because:

d) There was poor and intermittent supply of organic produce.

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Question 7

Peter Drucker noted the relationship between selling and marketing in the following terms:

b) The aim of marketing is to make selling superfluous.

Question 8

Which of the following statements is NOT true about the concept of a customer?

a) A customer and consumer are always the same thing - the terms are completely interchangeable.

Question 9

Which of the following is the best definition of value?

d) The best ratio of benefits to costs available to buyers.

Question 10

Which of the following is NOT usually defined as an element of the marketing mix?

d) Profits

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Chapter 02 - The marketing environment

Question 1

Which of the following is true about marketing planning at the bottom of a business cycle?

b) If it is fairly certain that the bottom of the cycle has been reached, this is the time to begin increasing investment.

Question 2

A value chain in marketing is:

c) a process by which goods gain value as they pass through different levels of intermediaries.

Question 3

In general, concern with the ecological environment is most closely associated with economies characterized by:

b) high levels of GDP per capita.

Question 4

The creation of a marketing department:

d) can result in a firm as a whole having a reduced level of marketing orientation.

Question 5

Which of the following is least likely to be associated with a firm's macro-environment?

c) A new staff incentive scheme

Question 6

Which of the following represents the most directly important reason why firms monitor their demographic environment?

c) To predict the size of market segments

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Question 7

In a flexible firm, "core workers" are:

b) Functionally flexible

Question 8

Which of the following is NOT part of an organization's micro-environment?

d) Government legislation

Question 9

Which of the following is an element of an organization's internal environment?

b) Employees

Question 10

A method of comparing the internal capabilities of an organization with the demands and challenges of its external environment is referred to as:

b) SWOT analysis

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Chapter 03 - Socially responsible marketing

Question 1

For a national supermarket chain, local community groups, government agencies and campaigning pressure groups collectively represent ________________ of the supermarket.

d) stakeholders

Question 2

A commercial company that promotes its public spirited attitude, for example by supporting a plastics recycling scheme, is most likely to be:

c) Seeking to combine social benefits with business profitability.

Question 3

Many observers have noted an association between a nation's GDP and the level of its citizens' concern with issues of ecological and corporate responsibility. In general, it is suggested that a high level of concern with these issues is associated with:

b) A high level of GDP per capita.

Question 4

What do you understand by the term 'ethics' in a business context?

c) Culturally conditioned agreement on what constitutes right and wrong.

Question 5

Which of the following provides the best definition of the concept of 'Green marketing'?

c) It cannot be precisely defined, but places emphasis on ecological responsibility in all of a company's activities.

Question 6

Companies should have responsibilities to vulnerable customers. Which of the following provides the widest definition of a vulnerable customer?Correct answer:c) Any individual over whom a company has a high level of power which leaves the individual unable to effectively apply their own judgment.

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Question 7

For a business organisation to be considered a 'good citizen', the most important thing it must do is:

d) Ensure that the activities of the whole company at all times meet the expectations of all stakeholders.

Question 8

Taken to its extreme, 'green' attitudes to consumption by tourists would imply that individuals:

d) Stay at home.

Question 9

A truck company promotes the fact it is using fuel in its trucks derived from agricultural crops, rather than conventional fossil fuels. This is evidence that:

b) It can be very difficult to understand impacts of decisions to adopt apparently environmentally friendly practices.

Question 10

Different countries and cultures have taken differing attitudes to the concept of ecological responsibility. In general, this has resulted in:

d) Transfer of production from developed to developing countries.

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Chapter 04 - Buyer behaviour and relationship development

Question 1

For most people, the purchase of cheese for daily use can be described as a:

a) Routine rebuy

Question 2

Which of the following statements best describes the concept of involvement in the context of buyer behaviour?

b) The potential impact of a product on an individual's self-identity.

Question 3

Buying decisions generally follow a pattern of overlapping stages. Which of the following best describes the typical stages of the buying process?

a) Need recognition> Information search > Evaluation > Decision > Post purchase evaluation

Question 4

Needs differ from wants because:

a) Wants are a socialized manifestation of underlying needs

Question 5

Which of the following levels of Maslow's Hierarchy of Needs is most likely to be associated with consumers' purchase of goods which appeal to their inner sense of peace of mind (e.g. art classes)?

a) Self-actualization

Question 6

An individual is considering buying a new microwave cooker and is faced with the possibility of several models. Which of the following describes the widest range of microwave cookers which the buyer considers in some form?

Your answer:a) The choice set

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Question 7

A company uses the celebrity Jamie Oliver to endorse its range of healthy snack foods. This endorsement is likely to be particularly effective if Jamie Oliver is seen by large numbers of the company's target market as:

c) A secondary reference group

Question 8

Which of the following consumer responses is LEAST likely to overcome cognitive dissonance experienced by a consumer who is dissatisfied with their purchase?

b) Seeing the product in a different light so that we emphasize the bad aspects of a product.

Question 9

Which of the following labels is NOT associated with a role in a buying Decision Making Unit?

a) Supplier

Question 10

A secretary who answers calls for a company buyer may be taking on which role within the company's decision making unit?c) Gatekeeper

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Chapter 05 - Marketing research

Question 1

In respect of a pub chain seeking to learn more about trends in dining out, the following are all examples of ______________: Financial Times industry sector surveys; other pub chains' annual reports, and reports published by trade bodies re[presenting the licensed pub trade:

d) secondary data

Question 2

Which of the following statements concerning marketing research is incorrect?

b) Secondary research is done after primary research.

Question 3

Which of the following indicators is most likely to be an effective predictor of UK demand for new commercial catering equipment in one year's time?

c) Number of people attending professional catering equipment exhibitions

Question 4

Factors that are crucial to the effectiveness of a company's marketing intelligence systems are listed below. Which factor is incorrect?

d) Appointment of a full time marketing research manager

Question 5

"Benchmarking" is a type of research which:

Your answer:a) compares a company's performance with standards set by selected other organizations.

Question 6

'Mystery Shopper' surveys can best be described as a form of:

Your answer:a) Observational research

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Question 7

Why are non-responses a particularly important problem for companies' questionnaire surveys?

c) A company cannot tell whether respondents have the same views as non-respondents, therefore the analysis may be biased.

Question 8

Participants are invited to join focus groups based on which criteria?

d) Ability to contribute to an understanding of an issue.

Question 9

Which of the following statements concerning marketing research is incorrect?

a) Qualitative techniques generally provide a broad representation of the population's behaviour.

Question 10

Which of the following is not an element of a Marketing Information System?

c) Production monitoring system

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Chapter 06 - Segmentation, positioning, and targeting

Question 1

Market ______ is the process of identifying groups of customers with basically similar wants, needs, preferences or buying behaviours.

c) Segmentation

Question 2

Which of the following is NOT a recognized basis for segmenting markets?

c) Competitive position

Question 3

Which of the following statements about segmentation by age is correct?

c) People may exhibit characteristics of the age they feel rather than their biological age.

Question 4

Marketers still refer to the A/B/C1/C2/D/E basis of classification because:

b) it is simple and there is shared understanding about the general characteristics of the people in each group.

Question 5

For marketers, geodemographic classification is essentially based on an assumption that:

c) where you live affects the things you buy.

Question 6

Which of the following is NOT a criterion used for segmenting consumer markets?

b) Size of the company

Question 7

Positioning of a product is based on:d) All of the above.

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Question 8

Positioning refers to the standing in the market place of one product in relation to other competing products. The whole of the marketing mix is used to position a product.

a) MOSAIC

Question 9

A marketer needs to be aware of the criteria by which the effectiveness of their segmentation procedures can be assessed. Which of the following is NOT a criterion for evaluating the resulting market segments?

a) Perishability

Question 10

Marketers use a number of definitions of household income in their segmentation and targeting activities. What does disposable income refer to?

a) The income that individuals have available to spend after taxation.

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Chapter 07 - Competitor analysis and brand development

Question 1

Which of the following products is most commonly sold on the basis of the emotionalattributes of its brand name?b) Soft drinks

Question 2

Palmolive soap, shampoo and moisturizer brands belong to a brand _________.

d) Family

Question 3

______ is the process of establishing and maintaining a distinctive place in the market for an organization or its specific product offers:

d) Positioning

Question 4

A differentiated product may be unique in the marketplace but it will only be successful under which of the following circumstances.

a) If it satisfies customers' needs

Question 5

In developing a marketing strategy, why might an organization use a positioning map?

a) To discover what position new entrants might move into in the market.

Question 6

Owners of brands frequently suffer when rivals make a rival product to resemble their own product. A common law remedy against this is based on the law of ___________.

c) passing off

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Question 7

A brand is a shorthand method which a manufacturer can use to identify its product as being distinctive. However, to be of value to a customer, this depends on which of the following brand characteristics being present?

d) Consistency

Question 8

Colours have often come to be associated with certain product features. In western countries, the combination of red and yellow is often used to signify.

d) Speed

Question 9

Logos are an important part of corporate visual identity. Which of the following statements about the attributes of a good logo is untrue?

d) It is a classic design that does not need to be updated to keep it in tune with styles and fashions.

Question 10

Which of the following is NOT generally recognized as an element of the marketing mix?

a) Profitability

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Chapter 08 - Developing the product

Question 1

The core product is best defined as:

a) the fundamental benefit of the product.

Question 2

An important reason for categorizing products is:

a) to learn from the marketing of another product which appears to be different in form, but is similar in terms of the needs it fulfils.

Question 3

Consumer goods are defined as:

b) Products purchased to satisfy individual or household needs.

Question 4

What does the acronym FMCG refer to?

c) Fast moving consumer goods

Question 5

Which of the following is the best example of a measure of technical quality?

d) Length of waiting time for a restaurant table

Question 6

Five stages in the product life cycle can be identified. Which of the following is not a generally accepted stage?

b) Peak

Question 7

A product that is perceived as being of average quality by one person may be perceived as being of high quality by someone with:d) Lower expectations

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Question 8

At what stage in the product lifecycle does the sales growth start to slow down?

b) Maturity stage

Question 9

Which group of consumers likes to be seen to own something new and are therefore prepared to purchase a product while it is still expensive?

a) Innovators

Question 10

Which growth strategy focuses on developing new products for a company's existing markets?

c) Product development

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Chapter 09 - Pricing

Question 1

Which of the following statements is most correct in defining demand for a product?

c) 2,000 units per day at £1 each in the UK

Question 2

A demand curve relates, for a given market:

a) Price and quantity

Question 3

Price elasticity of demand refers to:

c) the percentage change in volume demanded divided by the percentage change in price.

Question 4

A product whose volume of demand increases greatly following a small reduction in price is said to be:

c) Highly elastic

Question 5

Which of the following is an example of an 'inferior' good?

a) Pawnbroking services

Question 6

A supply curve shows price on the vertical axis and volume on the horizontal. An upward shift to a higher supply curve indicates:

b) Less is supplied at any given price level

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Question 7

Standby air tickets are best described as an example of:

b) Marginal cost pricing

Question 8

The maximum selling price that a firm can sustain for a product is determined by:

c) What customers are prepared to pay for it

Question 9

The key feature of oligopolistic competition is:

c) Interdependence of suppliers

Question 10

Regulation of prices is deemed particularly necessary for industries where:

d) Technology provides market entry barriers

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Chapter 10 - Channel intermediaries

Question 1

Intermediaries are most closely associated with the concept of:

c) Channels of distribution

Question 2

Intermediaries typically perform all of the following functions, except:

d) Creating direct communication from the customer to manufacturer

Question 3

Which type of channel of distribution is most likely to be typical of specialized, highly variable products such as adventure holidays?

b) Direct sale from tour operator to consumer

Question 4

A branded, high volume, low value consumer good is most likely to be sold through which of the following types of distribution channel?

d) Sale through many general retail outlets

Question 5

Which of the following is not true of franchisees?

a) They are always small owner managed businesses.

Question 6

Which of the following services is LEAST likely to be franchised?

b) Highly variable, customized, one-to-one services

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Question 7

In general, as physical distribution systems develop, which of the following is most likely to be true?

b) Goods travel longer overall distances

Question 8

'Just-in-Time' systems of distribution are particularly dependent upon:

c) Information flow between channel members

Question 9

Which of the following intermediaries DOES NOT generally create legal relations between a manufacturer or service principal and its customers?

a) Service agents

Question 10

Although not a conventional product, the UK National Lottery uses which type of distribution for the sale of its tickets?

b) Intensive distribution

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Chapter 11 - Marketing communications

Question 1

Where a manufacturer aggressively sells its products to wholesalers, this is known as:

d) A 'push' distribution strategyFeedback:

Question 2

Developing a promotional programme for a new service begins with:

b) Determining promotional objectives

Question 3

Within the promotional mix, public relations is most likely to be an important element for an innovative new product which is in the ____________ stage of its life cycle:

a) introduction

Question 4

Which of the following communications activities is likely to be most effective for a local hairdressing service?

c) Word-of-mouth referral

Question 5

According to most communication models, at what point does the communication process finish?

a) There is no end as communication is generally an ongoing process.

Question 6

Noise is an important element of the process of communicating a promotional message. Which of the following offers the best general definition of noise in this context?

d) Interference which occurs between the message source and the receiver.

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Question 7

There are many methods of determining a company's total promotional budget. Which of the following methods is generally considered the most appropriate for addressing the marketing needs of a product at the current stage in its lifecycle?

b) Objective and task

Question 8

Message and media are brought together within a planned time framework in a:

b) Campaign

Question 9

Two types of reference group impact an individual's response to its message. These two groups are often categorized as:

c) Primary and secondary

Question 10

A fundamental principle that underlies most promotional activity is that communication should be designed and placed to reach a specific target audience. Which one of the following is the most precise definition of a target market for a financial services company planning a direct mail campaign for a new type of insurance policy?

a) 'MOSAIC' lifestyle categories

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Chapter 12 - Managing the marketing effort in a global environment

Question 1

Which of the following objectives would be most appropriate to set for branch managers of a public library service?

c) Number of books borrowed

Question 2

Within financial services organizations, product management structures can result in an organization that is:

c) market focused rather than product focused.

Question 3

Advertising, marketing research and sales are titles most likely to be attached to groups in a firm which has a _________ organizational structure.

a) functional

Question 4

For a national company selling low value, high volume consumer goods, sales management responsibilities are most likely to be allocated on the basis of a _________ organizational structure

b) geographical

Question 5

How is a marketing strategy usually implemented?

b) Through a 12 month marketing plan which includes timings, costings, and distribution details.

Question 6

Managers within product management organizations typically have:

a) considerable responsibility for their service, but little authority.

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Question 7

Marketing managers in the not-for-profit sector are likely to have more of all of the following EXCEPT which?

a) Managerial discretion

Question 8

A corporate mission statement is most important in communicating the following to an organization's employees:

b) The core values of the organization

Question 9

For a UK budget hotel chain seeking expansion in overseas markets, a 'push' factor may be represented by:

c) Increasing levels of competition which the company faces in its domestic market

Question 10

A theme park operator considering setting up an operation in an overseas country, is most likely to begin its research by:

c) conducting secondary research at home.

Palmer: Introduction to Marketing 3e - OXFORD UNIVERSITY PRESS

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Chapter 1: Introduction to marketing > Concept Check MCQ's

1. Marketing is a complex set of tasks as well as a _____________ of business.

Answer:

philosophy

2. Marketing is about identifying and ___________ human and social needs.

Answer:

meeting

3. Marketing management is the art and science of choosing target markets and getting, keeping and increasing customers’ through _____________ superior customer value.

Answer:

all of the above

4. Marketing managers can market __________ entities.

Answer:

seven

5. _____________ is a central marketing concept.

Answer:

Demand

6. The marketing environment consists of the _________ environment and the broad environment.

Answer:task

7. At the very core of the marketing philosophy is the __________ of the customer.

Answer:satisfaction

8. Contemporary consumers and consumption patterns are __________.

Answer:changing

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9. Post modernism invites a unique ______ of how to manage marketing and how to understand the consumer.

Answer:perspective

10.

Many companies have not progressed to a __________ orientation but are challenged to move from the old-fashioned product or sales concept.

Answer:marketing

11.

Marketing is a significant dimension of any business.

Answer:

True

12.

Marketing is a social focus that permeates organizational functions and processes and is geared towards marketing promises.

Answer:

True

13.

Marketing has always oriented towards the marketing of services.

Answer:

True

14.

By managing several services and products a firm can create, stage and market experiences.

Answer:

True

15.

Seven states of market demand are possible.

Answer:

True

16.

The network economy is just one view of what marketing is all about.

AnswerTrue

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:

17.

Consumer markets are enormous.

Answer:

True

18.

Business markets purchase in different ways to consumer markets.

Answer:

True

19.

A global mindset has two components.

Answer:

True

20.

Marketing is essentially about selling products and services that don’t come back to people who do.

Answer:

True

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Chapter 1: Introduction to marketing > Concept Challenge MCQ's

1. Which of the following statements about marketing is NOT wholly true?

Answer:Selling is the most important part of marketing.

2. A negative demand state refers to consumers who ____________.

Answer:

dislike the product or service and may even pay a price to avoid it.

3. Which of the following practices is NOT one of the five main marketing practices?

Answer:

Entrepreneurial marketing

4. _______________ marketing ‘with’ the customer but occurs across and among organizations.

Answer:Network

5. The lines between consumer and business-to-business markets are blurring in four important ways. Which of the following is NOT considered to be one of the recognized blurrings?

Answer:A blurring of philosophies

6. A cluster of complimentary products and services that are closely related in the minds of consumers but spread across a diverse set of industries is a ______________ .

Answer:metamarket

7. Which of the following is NOT included in McCarthy’s 4P marketing mix?

Answer:People

8. Which of the following is NOT included in Boden’s 7P marketing mix.

Page 28 of 43

Answer:

Planning

9. ______________ implies face-to-face interaction between individuals.

Answer:

Interaction marketing

10.

Which of the following is NOT regarded as a characteristic of relationship marketing?

Answer:

Standardised product/service offerings

11.

In a 2007 survey of the “Top Ten CEOs (Chief Executive Officers)" all CEOs recognized the importance of marketing.

Answer:

True

12.

Highly competitive companies relax their marketing effort.

Answer:False

13.

Marketing managers have to balance short-term and long-term decisions.

Answer:

True

14.

There is no distinction between a social and managerial definition of marketing.

Answer:False

15.

Thinking in marketing has moved from a strategy that conceives of either a product or service to one which sees both dimensions in a market offering.

Page 29 of 43

Answer:

True

16.

Marketing outcomes within a network economy are dependent on and face competition from a strategic network of companies rather than from competition among individual companies.

Answer:

True

17.

Networks should be servants of rather than the masters of marketing managers.

Answer:

True

18.

Relationship marketing is focused on building short-term relationships with consumers.

Answer:False

19.

The environment in which marketing takes place is crucial.

Answer:

True

20.

European marketing managers have to address specific country contexts, issues, industries, cultures and geographic areas.

Answer:

True

Chapter 2: Understanding marketing management > Concept Challenge MCQ's

1. Which of the following statements about marketing managers is NOT true?

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Answer:Marketing managers need to stay within the frontiers of their country.

2. Change will continue to be focused on ___________ .

Answer:speed and innovation

3. Which are the core skills that a marketing manager must have?

Answer:All of the above

4. Marketing is both a business philosophy and a(n)______________ activity.

Answer:functional activity

5. Which of the following behaviour traits is NOT a leadership quality?

Answer:

Covert activity

6. Characteristics of organizations where marketing is influential in corporate decision making include four of the following and NOT _________ .

Answer:pre-occupation with managing cost reductions

7. Which of the following is NOT a key challenge for marketing managers?

Answer:Creation of strong research and development

8. Which of the following is NOT an ICT information element?

Answer:Communication software

9. Which of the following is an NOT an ICT interactions element?

Answer:New product and service design technologies

10.

Which of the following is NOT one of the four constituents of network marketing?

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Answer:Competitors

11.

Marketing management is a sophisticated title for a sales manager.

Answer:False

12.

Marketing is misunderstood in many companies and so is often not regarded too seriously.

Answer:

True

13.

Marketing managers understand that technology is adopted through three stages: Automation, information and transformation with these stages known as the stages theory of ICT assimilation.

Answer:

True

14.

Marketing can be achieved successfully by utilising a simple ‘one size fits all’ approach.

Answer:False

15.

Marketing managers just need IT skills to succeed as digital marketing reduces the need for the practice of creative skills.

Answer:False

16.

Customer relationship marketing aims to reach and serve individual customers.

Answer:

True

17.

Many companies are choosing to outsource many key marketing activities such as marketing research, database management and creative activities.

Answer:

True

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18.

The whole globe is a marketing manager’s arena.

Answer:

True

19.

Successfully entering developing markets requires a specialised set of skills and plans.

Answer:

True

20.

The challenge is to think creatively about how marketing can fulfil the dreams of most of the world’s population for a better standard of living.

Answer:

True

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2: Understanding marketing management > Concept Check MCQ's

1. The traditional view of management does NOT include _________ .

Answer:studying

2. Lately modern management has begun to address the importance of __________ and teams.

Answer:networks

3. Management in today’s world is ___________ .

Answer:demanding

4. Most departments work as stand-alone units reporting _________ .

Answer:

hierarchically

5. Which of the following is NOT normally viewed as being an essential component of marketing management?

Answer:Theorising

6. Marketing management in organizations can be at a disadvantage because of __________ organizational and environmental pressures.

Answer:seven

7. The last step in the marketer’s task is to ____________ .

Answer:create, communicate and deliver value for customers

8. The first step in deciding whether to market abroad is __________ .

Answer:deciding which markets to enter

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9. The last step in deciding whether to go abroad is _______ .

Answer:deciding how best to enter the market

10.

Which of the countries below is NOT a member of the so-called BRIC countries?

Answer:Bolivia

11.

The celebrated management guru, Peter Drucker, identified five assumptions that businesses often make.

Answer:

True

12.

Managers have changed from managing domestic companies to managing global companies with products and services delivered all over the world.

Answer:

True

13.

Owing to the importance of the marketing department as a key driver of business strategy top management should focus attention on the work of this department above all.

Answer:

True

14.

Leadership skills are important for marketing managers.

Answer:

True

15.

ICT skills are essential for marketing managers.

Your Answer:

True

16.

Marketing is under-represented at Board Level in many companies.

AnswerTrue

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:

17.

McGovern and Quelch suggest six ways to improve marketing directors’ success.

Answer:False

18.

ICT skills are more important than creative skills.

Answer:False

19.

Partner Relationship Marketing (PRM) is just as important as Customer Relationship Marketing (CM).

Answer:

True

20.

Professor Evert Gummesson divides relationships into three types.

Answer:

True

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Chapter 3: Developing marketing strategies and plans > Concept Challenge MCQ's

2. Core business processes include ______________ .

Answer:all these processes

3. Which of the following is NOT normally regarded as a main key planning level of an organization’s operation?

Answer:

Corporate, public relations and publicity

4. An SBU has _______________ main characteristics.

Answer:three

5. Which of the following is NOT featured on Ansoff’s product-market expansion matrix?

Answer:Cash cows

6. Jump Associates, the American innovative strategy firm offers ________ key strategies for leading companies to approach innovation.

Answer:five

7. Which of the following is NOT a major form of a marketing alliance?

Answer:Marketing communications alliances

9. How many key themes are featured in this text?

Answer:

Eight

10.

The Euromart practical marketing plan features ________________ .

Answer:all of these

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11.

The UK’s Chartered Institute of Marketing (CIM) defines marketing as ‘the management process of anticipating, identifying and satisfying customer requirements profitably’.

Answer:

True

12.

Kotler sees marketing as a business that identifies and delivers high levels of customer perceived value.

Answer:

True

13.

To be successful firms need to look for advantages beyond their own operations , in the value chains of suppliers, distributors and customers.

Answer:

True

14.

‘To fail to plan is to plan to fail’.

Answer:

True

15.

Goals should be a challenge but capable of being achieved.

Answer:

True

16.

It is best to change today, not tomorrow.

Answer:

True

17.

Activity –based cost accounting (ABC) can help determine whether each marketing programme is likely to produce sufficient results to justify its cost.

Answer:

True

18.

McKinsey and Company have identified six elements of success that all begin with the

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letter ‘s’.

Answer:False

19.

There are three questions to make when evaluating a marketing plan.

Answer:False

20.

The first step in any strategic thinking is to conduct an external and an internal audit.

Answer:

True

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Chapter 3: Developing marketing strategies and plans > Concept Check MCQ's

1. The first phase of the four stage value creation and delivery sequence is __________ .

Answer:

discovering the required value

2. The market sensing process, one of the core business processes, includes __________ .

Answer:all the activities in gathering market intelligence, disseminating it within the organization, and acting on the information

3. Whereas core competencies tend to refer to areas of special technical and production expertise, distinctive capabilities tend to describe _________ .

Answer:excellence in broader business processes

4. The holistic marketing framework is designed to address which three key management questions?

Answer:Value exploration; value creation; value delivery

5. The _________ is the central instrument for directing and coordinating the marketing effort.

Answer:marketing plan

6. An SBU refers to _________ .

Answer:strategic business unit

7. A company’s organization consists of __________ .

Answer:

structures; policies; corporate culture

8. SWOT analysis refers to an analysis of a company’s ____________.

Answer:strengths; weaknesses; opportunities; threats

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9. MOA refers to ______________________ .

Answer:market opportunity analysis

10.

The last section in the marketing plan should contain __________ .

Answer:implementation controls

11.

The traditional view of marketing is that the firm makes something to sell.

Answer:

True

12.

Michael Porter proposed the value chain as a tool for identifying ways to create more customer value.

Answer:

True

13.

The value chain identifies seven strategically relevant activities.

Answer:False

14.

Competitive advantage ultimately derives from how well the company has fitted its core competencies and distinctive capabilities into tightly interlocking “activity systems.”

Answer:

True

15.

Value exploration is concerned with how a company can efficiently create more promising new value offerings.

Answer:False

16.

The first step in corporate planning is defining the mission.

Answer:

True

17 A marketing opportunity is an area of buyer need and interest in which there is a high

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. probability that a company can profitably satisfy that need.

Answer:

True

18.

Michael Porter has proposed three generic strategies that provide a good starting point for strategic thinking: overall cost leadership, differentiation, and focus.

Answer:

True

19.

A marketing plan is a written document containing tactical guidelines for the marketing programmes and financial allocations over the planning period.

Answer:

True

20.

The marketing plan should open with a brief summary of the main goals and recommendations. This is called a situational analysis.

Answer:False

Chapter 4: Managing digital technology in marketing > Concept Challenge MCQ's

1. Which of the following is the MOST cost effective way of interacting with customers?

Answer:Email

2. EProcurement supports three out of four of the activities below. It does NOT support_________ .

Answer:

demand and capacity planning

6. Where would you NOT normally expect to find Internet wireless ‘hot spots’?

Answer:

Religious buildings

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7. Mobile phone advertising should NOT ______________ .

Answer:charge the user to receive the advertisement

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