Advanced Marketing Final Test
Solutions
Course Introduction
Advanced Marketing delves into the strategic and analytical aspects of modern marketing practices, building upon foundational concepts to examine complex market dynamics, consumer behavior, and emerging trends in digital and global marketplaces. The course explores advanced topics such as market segmentation, positioning strategies, integrated marketing communications, data-driven decision-making, branding, and relationship management. Students will engage with case studies, real-world projects, and the latest marketing technologies to develop sophisticated strategies that anticipate and respond to contemporary challenges, equipping them for leadership roles in marketing management and strategy.
Recommended Textbook
Strategic Marketing 1st Edition by Todd Mooradian
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Page 2
Chapter 1: Overview of Marketing Strategy the Strategic Marketing Process
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Sample Questions
Q1) What are the two generic frameworks of most marketing strategies?
A) niche scope, target segmentation
B) competitive advantage, globalization
C) customer intimacy, competitive scope
D) competitive advantage, competitive scope
Answer: D
Q2) Which growth strategy involves selling more of a firm's existing products to the firm's existing markets?
A) diversification
B) market penetration
C) market development
D) product development
Answer: B
Q3) The quality a customer receives adjusted for the price a customer pays for a product is known as ________.
A) perception
B) dividend
C) loyalty
D) value
Answer: D
Page 3
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Chapter 2: Situation Assessment - the External Environment
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Sample Questions
Q1) Which term refers to increases in unit costs as production increases?
A) vicious circle
B) economies of scope
C) diseconomies of scale
D) experience curve effects
Answer: C
Q2) Which of the following would most likely occur during an assessment of the external marketing environment?
A) analyzing the specific industry
B) evaluating core competencies
C) contacting financial resources
D) establishing strategic moves
Answer: A
Q3) Demographics,norms,and lifestyles are factors in the ________ context that marketers must always consider.
A) social
B) political
C) physical
D) regulatory
Answer: A
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Chapter 3: Situation Assessment - the Company
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Sample Questions
Q1) Which of the following strategies would most likely be used by a firm trying to close a profitability gap?
A) decreasing the yield
B) reducing investment intensity
C) selling new products to new markets
D) outsourcing value-added activities to suppliers
Answer: B
Q2) For marketing strategists,________ performance and ________ performance are measures of particular importance.
A) sales account; distribution
B) short-term; long-term
C) historical; anticipated
D) market; financial
Answer: D
Q3) SMART is a mnemonic device for ________.
A) determining strengths and weaknesses
B) analyzing external environments
C) evaluating customer satisfaction
D) assessing marketing objectives
Answer: D
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Chapter 4: Strategy Formation
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Sample Questions
Q1) What is differentiated marketing? What are the advantages and disadvantages of this strategy?
Q2) Which type of market coverage strategy requires a firm to have the most detailed understanding of its target market?
A) behavioral target marketing
B) undifferentiated marketing
C) niche marketing
D) mass marketing
Q3) Deploying the marketing mix to claim a unique,valued,and defensible position in the marketplace is known as ________.
A) targeting
B) segmenting
C) positioning
D) differentiating
Q4) The four substeps of strategy formation in the order that they should occur are identifying competitive advantages,segmenting the market,positioning the product,and targeting the customers.
A)True
B)False
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Chapter 5: Implementation
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Sample Questions
Q1) Based on the BCG Matrix,a product in a ________ market position typically generates enough cash to fund other investments.
A) high share/high growth
B) high share/low growth
C) low share/high growth
D) low share/low growth
Q2) ________ occurs when a product's attributes that were once new become widespread among all products in a market.
A) Commoditization
B) Protectionism
C) Exploitation
D) Expansion
Q3) Exploratory research is typically large scale,highly structured,and more expensive than other research techniques.
A)True
B)False
Q4) In what situations would marketing research most likely be a waste of time and money?
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Chapter 6: Planning,assessment,and Adjustment
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Q1) According to ________,a dependent variable can be predicted by multiple independent variables.
A) optimization analysis
B) CRM indicators
C) regression logic
D) data analytics
Q2) Which of the following would LEAST likely be used to forecast future sales of a product?
A) market interval scales
B) sales force estimates
C) expert opinions
D) market tests
Q3) Reichheld's research indicates that loyal customers and fickle customers are equally profitable for firms.
A)True
B)False
Q4) How can staircase analysis improve the accuracy of sales forecasting?
Q5) As a marketer,what factors should you monitor to determine the effectiveness of a strategic marketing plan and the marketing mix? How could you benefit from using a CRM system?
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Chapter 1: Note : Market Definition
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Q1) A product's market defines all of the following factors EXCEPT ________.
A) competitors
B) market share
C) marketing mix
D) potential substitutes
Q2) What is the lowest level of competition?
A) generic competition
B) budget competition
C) product category
D) product variant
Q3) A marketer collects data from store cash registers to determine whether two products are substitutes for each other.The marketer measures the sales decline of one product after the price of the second product is reduced.Which of the following is the marketer most likely using to define the market?
A) cross-elasticity data
B) customer insight data
C) brand-switching data
D) managerial judgment data
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Chapter 2: Note : Context: Pest Analysis
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Q1) Cultures are dynamic,so marketers must constantly monitor the values,norms,attitudes,and tastes of a marketing context.
A)True
B)False
Q2) Your marketing department is currently researching the values,attitudes,and norms of your target market.Which environment is being researched?
A) competitive
B) economic
C) political
D) social
Q3) Economic communities,which are also known as ________,have developed as a result of political changes in the last half-century.
A) free trade zones
B) open market channels
C) international entities
D) productivity communities
Q4) In a brief essay,discuss the advantages and disadvantages of standardization strategies and adaptation strategies in a global environment.
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Chapter 3: Note : Customer Assessment - Trends and Insights
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Sample Questions
Q1) Which of the following is NOT a common characteristic of a lead user?
A) They have ideas for solving product issues.
B) They share product ideas through netnography.
C) They realize product needs before the mass market.
D) They believe strongly in the products they help develop.
Q2) MECCAs help organize customer insight information gathered through ethnographic research.
A)True
B)False
Q3) What two parties interact in the total immersion method?
A) customers and executives
B) employees and customers
C) customers and researchers
D) researchers and executives
Q4) How can marketers identify marketplace trends? Discuss the various methods available for identifying trends.
Q5) Econometric and judgment-based forecasting methods typically project trends five to six years into the future.
A)True
B)False
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Chapter 4: Note : Consumer and Organizational Buyer
Behavior
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Sample Questions
Q1) Teams of people in an organization who participate in purchase decisions are known as ________.
A) B2B consumers
B) buying agents
C) buy centers
D) gatekeepers
Q2) In the hierarchy of effects model,________ is the first stage of the process..
A) need recognition
B) evaluation
C) interest
D) unaware
Q3) The first step in the personal selling process is ________.
A) gathering customer insight
B) gaining an order
C) assessing fit
D) prospecting
Q4) Customers are the ultimate users of a product and include both organizational buyers and distributors.
A)True
B)False
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Chapter 5: Note : Competitor Analysis - Competitive Intelligence
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Q1) When conducting a competitor analysis,a marketer should first investigate the competitor's ________.
A) marketing mix
B) product offerings
C) long-term objectives
D) customer loyalty ratings
Q2) By analyzing a competitor's ________,a marketer would most likely be able to assess the risk and cash flow of the competitor.
A) SBU portfolio
B) growth strategy
C) marketing approach
D) customer value chain
Q3) Which area of a competitor analysis involves making assessments rather than predictions about the competition?
A) strengths and weaknesses
B) long-term objectives
C) marketing tactics
D) strategies
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Chapter 6: Note : Company Assessment - Missions and Visions
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Sample Questions
Q1) The ________ of Nike is "to experience the emotion of competition,winning,and crushing competitors."
A) corporate strategy
B) core purpose
C) visionary goal
D) core values
Q2) Including visionary goals and vivid descriptions in vision and mission statements most likely serves the purpose of ________.
A) stimulating organizational progress
B) guiding employee behavior
C) developing competencies
D) aligning resources
Q3) Which of the following questions would be most useful for the evaluation of a corporate-level strategy?
A) Is the marketing mix aligned with the key success factors in the market?
B) Do executives and employees accept and defend the firm's core values?
C) Is the portfolio of business units balanced in terms of cash flow and risk?
D) Does the firm clearly communicate its core ideology to consumers?
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Chapter 7: Note : Company Assessment - the Value Chain
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Q1) A company has a significant competitive advantage when it is more efficient than a rival in a value chain activity of high strategic importance.
A)True
B)False
Q2) The primary purpose for conducting a value chain analysis is to ________.
A) identify target markets
B) analyze consumer trends
C) generate a profit margin
D) assess competitor strengths
Q3) The ________ element of the value chain relates to activities such as receiving and warehousing.
A) outbound logistics
B) inbound logistics
C) procurement
D) infrastructure
Q4) What is a value chain? Why are the individual activities of the value chain important to a firm's overall strategy?
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Chapter 8: Note : Industry Analysis
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Q1) In an industry characterized by ________,customers have significant bargaining power.
A) high switching costs
B) undifferentiated products
C) low concentrations of buyers
D) complex backward integration
Q2) How do potential substitutes threaten sales in an industry? Illustrate your answer with specific examples.
Q3) What is the first step of an industry analysis?
A) assessing competitive forces in the industry
B) analyzing future changes in the industry
C) identifying standards of the industry
D) defining the industry
Q4) Which of the following factors is LEAST likely to increase a rivalry between existing industry competitors?
A) high exit barriers
B) high industry growth
C) undifferentiated products
D) numerous competitors of equal size
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Chapter 9: Note : the Product Life Cycle
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Q1) Which of the following is NOT a characteristic included in Kano's model of customer satisfaction?
A) delighters
B) must haves
C) reliability functions
D) performance factors
Q2) Which of the following would most likely delay commoditization?
A) selling product accessories online
B) developing a new marketing mix
C) upgrading an existing product
D) lowering the price of a product
Q3) The product life cycle framework is most likely used by marketers to describe how
A) products and markets function
B) product ideas are developed
C) product quality is measured
D) product testing is handled
Q4) What factors typically lead to price-based competition in the product life cycle?
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Chapter 10: Note : Experience Curve Effects on Cost Reduction
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Q1) Computing the experience curve most likely helps a marketer to ________.
A) predict a product's life cycle stage
B) retain loyal business customers
C) develop a pricing strategy
D) improve a mature product
Q2) An experience curve is primarily dependent on the ________.
A) product life cycle
B) marketing mix
C) industry
D) economy
Q3) Which of the following is LEAST likely to affect the experience curve?
A) technical progress
B) labor redesign
C) specialization
D) segmentation
Q4) A firm with a higher market share will most likely experience a higher return on investment.
A)True
B)False
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Chapter 11: Note : Economies and Diseconomies of Scale
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Sample Questions
Q1) Which of the following would most likely occur if a firm exceeded its optimal production volume?
A) Unit costs would decrease with each additional unit.
B) Development costs would decrease unit costs.
C) Fixed costs would increase unit costs.
D) Unit costs would equal fixed costs.
Q2) When Company X increases its production volume by 1%,the firm's total cost of production increases by less than 1%.This is an example of ________.
A) diseconomies of scale
B) economies of scale
C) the supply chain
D) the value chain
Q3) When Company X increases its production volume by 1%,the firm's total cost of production increases by more than 1%.This is an example of ________.
A) experience curve effects
B) diseconomies of scale
C) economies of scale
D) inelasticity
Q4) What is economies of scale? How can a firm achieve economies of scale?
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Chapter
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Q1) Company X produces more than one product at its manufacturing facility,which lowers the firm's overall production costs.This is most likely an example of ________.
A) economies of scale
B) economies of scope
C) market diversification
D) horizontal integration
Q2) A firm that manufactures ________ would most likely gain an economy of scope.
A) limited quantities of products
B) large numbers of products
C) many different products
D) one type of product
Q3) All of the following are methods for multi-business-unit companies to create economies of scope EXCEPT ________.
A) sharing intellectual property
B) selling products to niche markets
C) coordinating market entry strategies
D) pooling negotiating powers for bulk discounts
Q4) What is the difference between economies of scale and economies of scope? How can a firm create economies of scope?
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Chapter 13: Note : Market-Share Effects
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Q1) In most cases,market share correlates with a firm's ________.
A) culture
B) profitability
C) ancillary sales
D) marketing mix
Q2) Research indicates that an increase of ________ percentage point(s)in market share correlates to an increase of ________ percentage point(s)in profitability.
A) 1; 3
B) 2; 4
C) 3; 1
D) 4; 2
Q3) What are the positive and negative effects of a strategy based on gaining market share?
Q4) Research indicates that although market share is desirable,it does not necessarily correlate to higher profitability for a firm.
A)True
B)False
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Chapter 14: Note : Scenario Analysis
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Q1) According to the text,it is best to develop ________ scenarios when preparing future strategies.
A) 1-2
B) 3-4
C) 5-6
D) 7-8
Q2) A ________ analysis is described in the text as an "if...then..." planning tool.
A) SWOT
B) scenario
C) marketing
D) forecasting
Q3) The use of scenario analysis necessitates precise forecasting data.
A)True
B)False
Q4) What is the final step in the scenario analysis process?
A) assessing strategic alternatives
B) developing multiple scenarios
C) identifying significant drivers
D) planning for each scenario
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Chapter 15: Note : the Marketing Concept
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Q1) Managerial philosophies that determine corporate priorities and problem-solving methods are referred to as ________.
A) functions
B) resources
C) orientations
D) benchmarks
Q2) All of the following are accurate descriptions of a market orientation,EXCEPT which one?
A) Marketing creates value for customers.
B) Marketing involves satisfying customers' needs.
C) Marketing requires conducting extensive market research.
D) Marketing involves managing profitable customer relationships.
Q3) During the production era of the early twentieth century,the supply of goods exceeded consumer demand,so efficient manufacturing processes were required to maintain profitability.
A)True
B)False
Q4) In most cases,firms evolve from a production focus to a market focus.
A)True
B)False
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Chapter 16: Note : What Is a Marketing Strategy
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Q1) A marketing strategy primarily describes how a firm will ________.
A) implement a mission statement
B) structure the marketing mix
C) identify core weaknesses
D) compete in a market
Q2) The key to IKEA's success has been the firm's desire to alter its basic business strategy every few years to meet changing customer needs and trends.
A)True
B)False
Q3) Which of the following tools would most likely be used when determining how a firm will serve customers and their needs?
A) value chain analysis
B) portfolio analysis
C) pricing matrix
D) client surveys
Q4) What is a marketing strategy? What are the most important issues and tasks that should be addressed by a marketing strategy?
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Chapter 17: Note : Generic Strategies - Advantage and Scope
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Q1) For a firm to maintain a position of cost leadership,________ is critical.
A) market share
B) product innovation
C) brand personality
D) labor specialization
Q2) Walmart is an example of a firm that follows a strategy of ________.
A) product differentiation
B) flexible automation
C) brand personality
D) cost leadership
Q3) Which of the following is a source of differentiation?
A) economies of scale
B) standard design
C) low-cost inputs
D) aesthetics
Q4) Which type of strategy is used by IKEA?
A) cost leadership
B) differentiation
C) customer focus
D) hybrid
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Chapter 18: Note : Generic Strategies - the Value Map
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Q1) The importance-performance-analysis method is most useful during the strategy formulation process when ________.
A) defining the market
B) assessing competitors
C) defining an action plan
D) estimating price sensitivity
Q2) A product that falls below the fair value zone of a value map is perceived to deliver benefits that are ________ the product's cost.
A) greater than
B) less than
C) equal to
D) unrelated to
Q3) Which term refers to companies within an industry that pursue similar competitive strategies and are similar in size,product offerings,and target customers?
A) niche market
B) market share
C) strategic group
D) integrated rival
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Chapter 19: Note : Generic Strategies - Product-Market
Growth Strategies
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Q1) Which growth strategy has the lowest probability of success?
A) diversification
B) market development
C) product development
D) market penetration
Q2) What is a diversification strategy? How can a firm reduce the risks associated with diversification?
Q3) A firm that implements cross selling as a product development method is most likely focusing on sales to ________.
A) nonbuyers
B) lost customers
C) existing customers
D) dissatisfied customers
Q4) A strategy of product development requires more resources than a strategy of market penetration.
A)True
B)False
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Chapter 20: Note : Specific Marketing Strategies
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Q1) Which offensive strategy involves addressing needs or market segments that a competitor has neglected?
A) bypass
B) flanking
C) guerilla
D) encirclement
Q2) What is a transnational strategy? Why has this market entry strategy become increasingly popular? What are the advantages and disadvantages of a transnational strategy?
Q3) Company X wants a low risk method for entering the global market that will not require a significant amount of resources.Which of the following methods would be LEAST appropriate for Company X?
A) exporting
B) licensing
C) joint venture
D) franchising
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28
Chapter 21: Note : Market Segmentation
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Q1) Which type of segmentation is most related to the use of the word when,such as when consumers get the idea to buy,when they actually make their purchase,or when they use the purchased item?
A) psychographic
B) demographic
C) geographic
D) behavioral
Q2) A marketer in the process of segmenting a B2B market should begin with macro variables before assessing micro variables.
A)True
B)False
Q3) Your new employer has asked you,as a new marketing graduate,to identify a group of potential customers who might respond in a similar way to a given set of marketing efforts.You have been asked to identify a(n)________.
A) market segment
B) target market
C) market strategy
D) market
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Q1) What is the recommended strategy for dealing with small wallets?
A) make product alterations
B) improve customer service
C) implement cross-selling
D) lower product costs
Q2) Items priced at or below costs in order to attract customers are known as
A) market wreckers
B) loss-leaders
C) cross-sellers
D) barnacles
Q3) The rate of return on investments made towards customer retention is always increasing because of constantly decreasing acquisition costs.
A)True
B)False
Q4) According to research,firms spend the majority of their marketing efforts and resources on keeping existing customers because customer retention is highly profitable.
A)True B)False
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Chapter 23: Note : Customer Lifetime Value
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Q1) Customer profitability is calculated by analyzing ________ and ________.
A) product marketing costs; customer support costs
B) customer-sustaining costs; production costs
C) costs of goods sold; customer discounts
D) customer costs; customer revenues
Q2) By measuring customer retention rates,firms can determine both behavioral loyalty and attitudinal loyalty.
A)True
B)False
Q3) In most cases,a long-term customer relationship is ________ a short-term customer relationship.
A) more profitable than
B) less profitable than
C) as profitable as
D) no different than
Q4) How can a customer portfolio help marketers with customer relationship management? What are the four types of customers identified in a customer portfolio? As a marketer,on which types of customers would you primarily focus?
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Chapter 24: Note : Competitive Advantages
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Q1) What is the difference between a market-based view of strategy development and a resource-based view? Briefly outline the steps for developing a strategy for each philosophy.
Q2) According to the market-based view of strategy development,the success of a firm most likely depends on ________.
A) organizational resources
B) industry attractiveness
C) employee strengths
D) customer loyalty
Q3) A resource-based view of strategy development asserts that a firm's success depends on ________.
A) profitability ratios
B) industry attractiveness
C) industry macro environments
D) sustainable competitive advantages
Q4) According to the market-based view of strategy development,how a firm competes is more important than where a firm competes.
A)True
B)False
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Chapter 25: Note : Swot Analysis
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Q1) When conducting a SWOT analysis,any identification of strengths and weaknesses should be made in comparison to the competition.
A)True
B)False
Q2) The strengths found in a SWOT analysis are also known as ________.
A) sustainable competitive advantages
B) strategic business units
C) market share opportunities
D) value chain activities
Q3) How can regular environmental scanning improve the effectiveness of a SWOT analysis? What environmental factors pose opportunities and threats?
Q4) Which of the following is the first step in conducting a SWOT analysis?
A) Study the environment for changes in consumer needs.
B) Compare the value chains of the firm and its competitors.
C) Match internal strengths to possible external opportunities.
D) Scan the environment for significant shifts in market segments.
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Chapter 26: Note : Targeting
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Q1) What are the two primary marketing strategies? What are the advantages and disadvantages of each approach?
Q2) Which of the following will most likely occur if a firm shifts from an undifferentiated marketing program to a differentiated marketing program?
A) decreasing organizational complexity
B) increasing benefits of scale
C) decreasing product portfolio
D) increasing per-unit costs
Q3) A firm that implements a differentiated marketing program will most likely have a complex organizational structure and diluted benefits of scale.
A)True
B)False
Q4) What is the first step in the process of selecting a target market?
A) positioning segments in a market portfolio
B) determining competitive superiority
C) searching for competitive advantages
D) evaluating segment attractiveness
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Chapter 27: Note : Positioning
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Q1) What is a positioning statement? What are the characteristics of an effective positioning statement?
Q2) La Quinta sends surveys to customers asking them to rate attributes of the hotel chain from 1-to-5 where "1" means "very unpleasant" and "5" means "very pleasant." Which tool is La Quinta most likely using for brand positioning?
A) semantic scales
B) perceptual maps
C) customer value maps
D) positioning statements
Q3) A perceptual map provides a graphic visualization of what customers think about products and brands.
A)True
B)False
Q4) Semantic scales are appropriate positioning tools when a marketer needs to collect data about consumer perceptions of a product's attributes.
A)True
B)False
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35
Chapter 28: Note : Customer-Oriented Market Research
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Q1) After conducting customer-oriented market research,a marketer will most likely be able to perform all of the following activities EXCEPT ________.
A) developing specific marketing programs and tactics
B) assessing and adjusting marketing mix activities
C) quantifying internal strengths and weaknesses
D) segmenting and targeting customers
Q2) Data collected through UPC codes at retail stores is most likely ________.
A) syndicated research
B) qualitative research
C) descriptive research
D) causal research
Q3) Which of the following is a benefit associated with conducting market research?
A) low costs
B) risk reduction
C) quick implementation
D) streamlined decision-making
Q4) Descriptive research characterizes the who,what,when,where,and why of the market.
A)True
B)False
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Chapter 29: Note : Brands and Branding
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Q1) Millward Brown's BrandDynamics model is a commercial tool for measuring brand strength based on categories such as performance,presence,and relevance.
A)True
B)False
Q2) The total financial benefit that results from owning a brand is quantified through the process of brand ________.
A) differentiation
B) positioning
C) valuation
D) building
Q3) Brand ________ answers the questions,"What should my brand stand for?"
A) positioning
B) personality
C) architecture
D) symbolism
Q4) What is a brand? How do brands benefit both customers and firms?
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Chapter 30: Note : Products - New Product Development
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Q1) Which of the following is a true statement regarding research and development?
A) R&D investments produce equivalent profits.
B) Research refers to incremental changes in product design.
C) The law of diminishing returns applies to R&D investments.
D) Development refers to basic product explorations undertaken by a firm.
Q2) The idea generation stage of the new product development process consumes approximately 50% of the development time and requires significant financial resources.
A)True
B)False
Q3) Research indicates that the majority of new products are innovative,while a smaller percentage are revisions of existing products.
A)True
B)False
Q4) Modern views of product design assert that the process should be ________.
A) holistic
B) technical
C) aesthetic
D) functional
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Chapter 31: Note : Products - Innovations
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Q1) Which of the following is a true statement about the rate of diffusion?
A) Costly innovations will diffuse more quickly in the market.
B) Highly complex innovations are more quickly adopted by laggards.
C) Customers are more likely to try a product if the price of change is low.
D) News reports about new product innovations are more influential than inter-consumer communications.
Q2) The speed at which a truly new product spreads through a market is known as the ________.
A) continuity of innovations
B) diffusion of innovations
C) adoption process
D) branding process
Q3) The diffusion curve maps directly to the product life cycle.
A)True
B)False
Q4) How can a marketing strategist influence the rate of diffusion through the attributes of an innovation?
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Chapter 32: Note : Products - Product Portfolios
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Q1) Which of the following questions would LEAST likely be answered by the BCG matrix?
A) How strong is the product in the market?
B) How loyal are customers in the market?
C) How strong is the SBU in the market?
D) How attractive is the market?
Q2) Stars in the BCG matrix are typically market leaders in low-growth markets.
A)True
B)False
Q3) When using the GE/McKinsey Grid,the first step is to ________.
A) define and weight business strength markers
B) evaluate each product's market attractiveness
C) define and weigh market attractiveness markers
D) evaluate each SBU's business strength
Q4) What are some of the limitations of the BCG matrix?
Q5) Relative market share is a strong indicator of competitive advantages in industries where size leads to cost advantages.
A)True
B)False
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Chapter 33: Note : Pricing Strategies
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Q1) A firm sets high prices for a product innovation and lowers the price as the product moves into other stages of the product life cycle.The firm is most likely using a pricing strategy of ________.
A) market skimming
B) product positioning
C) market penetration
D) maximum current profit
Q2) In a brief essay,discuss some of the short-term and long-term effects of price-based promotions.
Q3) Price is the only element in the marketing mix that produces ________.
A) variable costs
B) fixed costs
C) revenue
D) stability
Q4) Product costs set a ________ to a product's price.
A) floor
B) ceiling
C) demand curve
D) break-even cost
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Chapter
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Sample Questions
Q1) Which of the following is the LEAST controllable element of the communications mix?
A) buzz marketing
B) personal selling
C) direct marketing
D) point-of-purchase sales
Q2) Which of the following has the greatest reach?
A) trade promotions
B) viral marketing
C) personal selling
D) direct marketing
Q3) In a buying center,the ________ serves as an expert about an aspect of the purchase.
A) gatekeeper
B) influencer
C) buyer
D) user
Q4) What are the differences between a push strategy and a pull strategy? How might a firm use both strategies? Illustrate your answer with a specific example of a firm that uses both strategies.
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Chapter 35: Note : Place - Distribution
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Q1) A company-owned distribution channel provides a firm with greater distribution control and lower financial costs than a fully independent distribution channel.
A)True
B)False
Q2) Which of the following is most likely a facilitating function?
A) making a desired number of products available
B) providing technical support for customers
C) making payments to manufacturers
D) holding products until needed
Q3) What are the three primary forces that affect channel dynamics and distribution results? Why is it important for marketers to be aware of these forces?
Q4) What is the most significant problem associated with a multiple channel distribution system?
A) inadequate distribution intensity
B) unclear channel ownership
C) channel functionality
D) channel conflict
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43
Chapter
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Q1) Profit objectives,sales objectives,and customer objectives are the three types of marketing objectives that should stem from business unit objectives.
A)True
B)False
Q2) In a brief essay,explain the relationship between forecasting,budgeting,objective setting,and planning the marketing mix.
Q3) In marketing,a(n)________ is a specific,desired result tied to a specific time frame.
A) goal
B) mission
C) objective
D) investment
Q4) Which of the following is a semi-fixed marketing cost?
A) marketing research
B) public relations
C) promotions
D) discounts
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Chapter 37: Note : Staircase Analysis
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Q1) As a marketer,how would you benefit from using a staircase analysis to formulate marketing objectives?
Q2) The ________ consists of all possible buyers with the need and financial resources for a specific product.
A) segment
B) cross sellers
C) actual market
D) market potential
Q3) A staircase analysis is a tool used by marketers to ________.
A) develop specific objectives
B) create innovative products
C) assess competitors' strengths
D) analyze strategic business units
Q4) Aided recall and unaided recall are methods for measuring ________.
A) brand loyalty
B) share of wallet
C) brand awareness
D) market potential
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Chapter 38: Note : Assessment and Adjustment
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Q1) What information would be provided by the following formula? actual market Market potential
A) market growth
B) customer demand
C) market saturation
D) total sales volume
Q2) A firm is most likely using ________ when it identifies and corrects a marketing problem in order to obtain forecasted results.
A) progress control
B) SWOT analysis
C) premise control
D) staircase analysis
Q3) Which of the following formulas would be best for calculating the total contribution margin?
A) sales revenue - total variable cost
B) \(\frac{\text { unit price - variable cost per unit }}{\text { unit price }}\)
C) price per unit - total cost per unit
D) \(\frac{\text { revenueper product }}{\text {overall revenue }}\)
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