Assignments -> Quiz one chapters 1-8
DUE..... IMMEDIATELY PRECEEDING EXAM ONE (Multiple Choice). These will appear on EXAM ONE as seen.
1. In marketing myopia, a firm a. defines its business in terms of broadly defined consumer needs b. acquires intermittent consumer feedback c. has an aggressive approach to marketing d. has a narrow and complacent view of marketing
2. When deregulation makes it easier for new firms to enter a market, a. an oligopoly changes into monopolistic competition b. oligopolistic competitive structures change to monopolies c. pure competition competitive structures change to monopolistic competition d. a monopolistically competitive structure changes to an oligopoly
3. What time span is most often covered in long-run marketing plans? a. one year b. two to three years c. five to fifteen years d. over fifteen years
4. The basic building block of a strategic marketing plan is the a. organization mission statement b. SWOT analysis c. short-run plan d. strategic business unit (SBU)
5. In portfolio analysis, a. the risk level of a company's products are compared to its closest competitors b. a firm's new products receive greater resources than its existing products c. resources are allocated to every business unit and/or product based upon individual assessment d. a company's strategic business units (SBUs) are analyzed only in terms of their short-run potential performance
6. According to the Boston Consulting Group matrix, a cash cow a. is a successful product in a relatively mature or declining industry b. should be divested c. can become a problem child if a firm fails to invest sufficient resources to finance its growth d. requires either intensified marketing efforts or divestment
7. The text's modern definition of marketing focuses on a. the marketing of goods and services b. activities of nonprofit organizations c. the anticipation, management, and satisfaction of demand d. activities of profit-making enterprises 8. The marketing mix involves a. planning, implementation, and control decisions b. product, distribution, promotion and price decisions c. strengths, weaknesses, opportunities, and threats (SWOT) d. product, packaging, personnel, and promotion decisions
9. The major role of the Federal Trade Commission is to a. insure that consumers obtain low prices b. protect businesspeople from unfair competition from foreign-owned firms c. develop and enforce rules relating to consumer product safety d. enforce rules against unfair methods of competition and deceptive business practices
10. A set of procedures and methods designed to generate, store, analyze, and disseminate marketing decision information on a regular, continuous basis is known as a. an experiment b. a marketing information system c. marketing research d. a data base
11. Exploratory research is most often used when a researcher a. seeks to reduce the total time of a research study b. seeks to reduce the total dollar costs of a research study c. needs to show cause-and-effect in a research design d. needs further clarification as to the nature of a problem or opportunity
12. Which product/marketing opportunity matrix is LEAST appropriate for a firm that defines its line of business and organizational mission in very narrow terms? a. market development b. market penetration c. product development d. diversification
13. Which statement concerning planned obsolescence is correct? a. planned obsolescence encourages short-run material wearout, style changes, and functional product changes b. planned obsolescence is specifically concerned with environmental pollution c. planned obsolescence is specifically concerned with natural resource usage d. planned obsolescence is a practice that falls under consumerism
14. Which of these statements about the government's role in consumer choice is correct? a. patents encourage increased choice b. deregulation increases consumer choice c. generally, less-developed countries offer consumers more choice than developed countries d. mergers add to consumer choice
15. Which of these is a major strength of strategic planning portfolio models? a. they include all relevant factors that affect profitability b. the definitions of such attributes as market share and product quality are clear c. they are easy to implement d. they enable firms to describe and analyze all business units and products on common criteria
16. The largest and broadest business-operated trade association involved with consumer issues is the a. Better Business Bureau b. Federal Trade Commission c. U.S. Association of Manufacturers and Retailers d. Major Appliance Consumer Action Panel
17. Which one of the following is NOT considered an aspect of management of demand? a. stimulation of demand b. facilitation of demand c. satisfaction of demand d. regulation of demand
18. Environmental analysis involves a. examining and evaluating consumer needs and wants b. monitoring and adapting to those external factors that affect the success or failure of a firm c. developing a short- and long-run marketing plan d. evaluating the effect of marketing on natural resources and the landscape 19. A hotel has a sophisticated marketing information system which enables it to track customer satisfaction as measured by phone interviews, occupancy rates, and usage rates of restaurants. This better enables the hotel to measure consumer satisfaction and then achievement of corporate goals. The company is following a a. short-run strategy b. long-run strategy c. selling philosophy d. marketing philosophy
20. The process of subdividing a market into distinct subsets of customers, that behave in the same way or have similar needs, is referred to as a. demographic marketing b. target marketing c. life-style segmentation d. market segmentation
1. In marketing myopia, a firm a. defines its business in terms of broadly defined consumer needs b. acquires intermittent consumer feedback c. has an aggressive approach to marketing d. has a narrow and complacent view of marketing
2. When deregulation makes it easier for new firms to enter a market, a. an oligopoly changes into monopolistic competition b. oligopolistic competitive structures change to monopolies c. pure competition competitive structures change to monopolistic competition d. a monopolistically competitive structure changes to an oligopoly
3. What time span is most often covered in long-run marketing plans? a. one year b. two to three years c. five to fifteen years d. over fifteen years
4. The basic building block of a strategic marketing plan is the a. organization mission statement b. SWOT analysis c. short-run plan d. strategic business unit (SBU)
5. In portfolio analysis, a. the risk level of a company's products are compared to its closest competitors b. a firm's new products receive greater resources than its existing products c. resources are allocated to every business unit and/or product based upon individual assessment d. a company's strategic business units (SBUs) are analyzed only in terms of their short-run potential performance
6. According to the Boston Consulting Group matrix, a cash cow a. is a successful product in a relatively mature or declining industry b. should be divested c. can become a problem child if a firm fails to invest sufficient resources to finance its growth d. requires either intensified marketing efforts or divestment
7. The text's modern definition of marketing focuses on a. the marketing of goods and services b. activities of nonprofit organizations c. the anticipation, management, and satisfaction of demand d. activities of profit-making enterprises 8. The marketing mix involves a. planning, implementation, and control decisions b. product, distribution, promotion and price decisions c. strengths, weaknesses, opportunities, and threats (SWOT) d. product, packaging, personnel, and promotion decisions
9. The major role of the Federal Trade Commission is to a. insure that consumers obtain low prices b. protect businesspeople from unfair competition from foreign-owned firms c. develop and enforce rules relating to consumer product safety d. enforce rules against unfair methods of competition and deceptive business practices
10. A set of procedures and methods designed to generate, store, analyze, and disseminate marketing decision information on a regular, continuous basis is known as a. an experiment b. a marketing information system c. marketing research d. a data base
11. Exploratory research is most often used when a researcher a. seeks to reduce the total time of a research study b. seeks to reduce the total dollar costs of a research study c. needs to show cause-and-effect in a research design d. needs further clarification as to the nature of a problem or opportunity
12. Which product/marketing opportunity matrix is LEAST appropriate for a firm that defines its line of business and organizational mission in very narrow terms? a. market development b. market penetration c. product development d. diversification
13. Which statement concerning planned obsolescence is correct? a. planned obsolescence encourages short-run material wearout, style changes, and functional product changes b. planned obsolescence is specifically concerned with environmental pollution c. planned obsolescence is specifically concerned with natural resource usage d. planned obsolescence is a practice that falls under consumerism
14. Which of these statements about the government's role in consumer choice is correct? a. patents encourage increased choice b. deregulation increases consumer choice c. generally, less-developed countries offer consumers more choice than developed countries d. mergers add to consumer choice
15. Which of these is a major strength of strategic planning portfolio models? a. they include all relevant factors that affect profitability b. the definitions of such attributes as market share and product quality are clear c. they are easy to implement d. they enable firms to describe and analyze all business units and products on common criteria
16. The largest and broadest business-operated trade association involved with consumer issues is the a. Better Business Bureau b. Federal Trade Commission c. U.S. Association of Manufacturers and Retailers d. Major Appliance Consumer Action Panel
17. Which one of the following is NOT considered an aspect of management of demand? a. stimulation of demand b. facilitation of demand c. satisfaction of demand d. regulation of demand
18. Environmental analysis involves a. examining and evaluating consumer needs and wants b. monitoring and adapting to those external factors that affect the success or failure of a firm c. developing a short- and long-run marketing plan d. evaluating the effect of marketing on natural resources and the landscape 19. A hotel has a sophisticated marketing information system which enables it to track customer satisfaction as measured by phone interviews, occupancy rates, and usage rates of restaurants. This better enables the hotel to measure consumer satisfaction and then achievement of corporate goals. The company is following a a. short-run strategy b. long-run strategy c. selling philosophy d. marketing philosophy
20. The process of subdividing a market into distinct subsets of customers, that behave in the same way or have similar needs, is referred to as a. demographic marketing b. target marketing c. life-style segmentation d. market segmentation