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1. (TCO 4) Three commonly used methods of evaluating marketing programs are marketing metrics, marketing dashboards, and (Points : 5) marginal analysis. marketing audits. marketing ROI. marginal analysis. marketing control boards. Question 2. 2. (TCO 1) Marketing plans must enable results to be compared with planned targets, which allows _____, the flexibility to update original plans. (Points : 5) replanning contingency planning downsizing dynamic planning proactive change Question 3. 3. (TCO 3) Which marketing strategy focuses on a single market segment but adds additional product lines? (Points : 5) Full coverage Market specialization Product specialization Selective specialization Market-product concentration Question 4. 4. (TCO 1) Based on relative competitive scope (broad target to narrow target) and source of competitive advantage (lower cost to differentiation), Porter’s four generic business strategies are differentiation, cost focus, cost leadership, and (Points : 5) exclusivity. electronic-focus. quality focus. differentiation focus. service leadership. Question 5. 5. (TCO 2) Which of the following pieces of information is used in the implementation phase of the strategic marketing process? (Points : 5) Corporate return on investment Organizational charts and job descriptions Revenues associated with each point of market share Trends in past and current revenues for industry and competitors in total and by segment Possible cannibalization effects on other products in the line Question 6. 6. (TCO 6) Which of the following pieces of information is used in a SWOT analysis, the first step of the planning phase of the strategic marketing process? (Points : 5) Corporate return on investment Market share for the product Revenues associated with each point of market share Trends in past and current revenues for industry and competitors Possible cannibalization effects on other products in the line Question 7. 7. (TCO 3) All of the following steps are part of the planning process used to develop an organization’s advertising program, except (Points : 5) identify the target audience. specify the advertising objectives. write the advertising copy. pretest the advertising. schedule the advertising program. Question 8. 8. (TCO 2) The proper blend of elements in the promotional mix depends on the type of product. The three specific characteristics to be considered are _____, risk, and ancillary services. (Points : 5) complexity size durability accessibility acceptability Question 9. 9. (TCO 4) At which stage in the product life cycle would your promotional objective be to persuade the consumer to buy the product rather than substitutes? (Points : 5) Introduction Growth Incubation Decline Maturity Question 10. 10. (TCO 2) The _____ includes advertising, personal selling, sales promotion, public relations, and direct marketing. (Points : 5) promotion channel communication chain marketing matrix promotional mix media mix Question 11. 11. (TCO 8) Which of the following statements about the terms used for marketing intermediaries is true? (Points : 5) The most precise terms used to describe marketing intermediaries are dealer and distributor. A retailer sells to consumers. An agent has no legal authority to act on behalf of a manufacturer. A wholesaler is an intermediary who sells to consumers. Broker is a synonym for a dealer. Question 12. 12. (TCO 7) Conspiracy between firms to set prices for a product is called (Points : 5) price discrimination. price fixing. predatory pricing. tying arrangements. exclusive dealing. Question 13. 13. (TCO 2) _____ involve(s) specifying the role of price in an organization’s marketing and strategic plans. (Points : 5) A business mission Pricing constraints Pricing objectives A pricing plan The list or quoted price Question 14. 14. (TCO 3) The ratio of _____ to price is called value. (Points : 5) perceived benefits prestige value value-added pricing perceived revenue perceived costs Question 15. 15. (TCO 6) Market segmentation involves aggregating prospective buyers into groups that have common needs and will (Points : 5) pay attention to marketing messages. respond similarly to a marketing action. be responsive to marketing research. use the same payment methods. go shopping on a regular basis. Question 16. 16. (TCO 5) The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is called (Points : 5) environmental trending. organizational scanning. environmental scanning. a SWOT analysis. acquisition scanning. Question 17. 17. (TCO 1) The marketing department helps keep the organization focused on creating value both for it and for customers. This is accomplished by (Points : 5) listening to customers. developing offerings. producing offerings. implementing marketing program activities. All of the above Question 18. 18. (TCO 1) Which of the following statements about relationship marketing is most true? (Points : 5) Relationship marketing has a short-term focus on increasing profits. Relationship marketing is easy to implement. Relationship marketing is more effective when there is a personal, ongoing relationship between individuals in the selling and buying organizations. Very few companies today are engaged in relationship marketing. The Internet is an ideal forum for relationship marketing. Question 19. 19. (TCO 1) Your neighbor is tired of conventional soft drinks and wants something different. Coincidentally, Cadbury Beverages Inc. has begun distributing Country Time lemonade through the supermarket at a price comparable to that of soft drinks. Which of the conditions needed for marketing to occur is described in this situation? (Points : 5) The creation of unrealized needs Two parties with unsatisfied needs One-way communication A physical location for an exchange to take place Time and place utility Question 20. 20. (TCO 6) Which of the following is the BEST description of the target market for the latest Disney animated movie? (Points : 5) Everyone who can afford to buy a movie ticket Everyone who likes movies Professionals who are parents of children between the ages of 6 and 12 People who collect movie memorabilia People who live near a movie theater Question 21. 21. (TCO 3) Which element of the marketing mix is demonstrated when the Mars Company has a sale on M&M’s® brand candies? (Points : 5) Product Price Promotion Place Production Question 22. 22. (TCO 5) The Lemon Tree is a high-fashion boutique selling top-of-the-line women’s clothing and accessories. The keys to its success include knowing the customers’ changing tastes and providing something different from other retailers. In addition, because of the high value of the merchandise, The Lemon Tree’s management is exploring the use of computerized inventory controls and sales order processing. From this description, one can infer that the environmental category of least importance to The Lemon Tree is (Points : 5) economic. regulatory. technological. social. competitive. Question 23. 23. (TCO 7) In 1998, F. Hoffman-LaRoche Ltd. and BASF AG, two international pharmaceutical companies, were ordered to pay $725 million in fines for plotting to raise and fix prices of vitamins used in virtually every home in the United States. This is an example of how _____ forces affect the marketing environment. (Points : 5) economic ecological technological social regulatory Question 24. 24. (TCO 6) Graham-Field Health Products makes hospital beds and wheelchairs from component parts and materials it buys. It sells its products to hospitals, nursing homes, and retailers of healthcare products. Graham-Field Health Products operates in a(n) _____ market. (Points : 5) consumer government industrial reseller demographic Question 25. 25. (TCO 1) The Book Promoters Association of Canada’s members recently questioned what could be done to rejuvenate the Canadian book publishing industry. Some members claimed the problem was that Canadian retailers had been replaced by Walmarts. Others said the problem was with stodgy promotions. Still others said the problem was caused by too little money being budgeted to fund marketing programs. It was time that Canadian book publishers used _____ to save the industry. (Points : 5) advertising sales promotion publicity marketing research tactical support Question 26. 26. (TCO 3) When Marine Midland Bank sent market researchers with surveys door-to-door in the neighborhoods of its branch banks to ask people with savings accounts why they did not also have checking accounts and credit cards with Marine Midland, the researchers were gathering _____ data. (Points : 5) questionnaire secondary intercept observational nonprobability Question 27. 27. (TCO 4) Sara Burns is the owner of a company called Spice and was looking for a new product to go with her company’s line of food condiments when a friend suggested combining spices with tea. In the _____ stage of the new-product process, the spices and tea mixtures were exposed to prospective consumers under realistic purchase conditions. (Points : 5) idea generation screening and evaluation business analysis market testing commercialization Question 28. 28. (TCO 4) A few years ago, Who Wants to Be a Millionaire premiered as the first nighttime game show in a couple of decades. Once the show became a hit and televised several nights a week, other networks quickly created their own version of what they hoped to be a successful game show format. Greed and Twenty-One are the names of but two of the new shows that were created to compete with Who Wants to Be a Millionaire. At this point in time, the nighttime televised game show genre entered which stage of its product life cycle? (Points : 5) Growth stage Decline stage Commercialization stage Maturity stage Introduction stage Question 29. 29. (TCO 8) In an episode of the Andy Griffith television series, two local farmers were selling the produce they grew on their farms from the backs of their pickup trucks to local people who drove by on the road. The farmers selling their products without wholesalers or retailers were an example of a (Points : 5) roadside channel of distribution. traveling channel of distribution. intermediate channel of distribution. informal channel of distribution. direct channel of distribution. Question 30. 30. (TCO 2) Disney is using an integrated marketing communications program (IMC) to promote group travel to its theme parks, because (Points : 5) its strategy includes using all types of promotional activities that deliver a consistent message. it does not want to reach any member of its target audience more than once. IMC is less expensive than other forms of promotion, such as public service announcements. if it didn’t, Disney would have to use indirect personal selling. it is more concerned about frequency than reach. Question 31. 31. (TCO 2) When a news story covers a terrible disaster and viewers are asked to send donations to the American Red Cross, the American Red Cross is receiving (Points : 5) publicity. advertising. direct marketing. personal selling. a public service announcement. Question 32. 32. (TCO 8) Recently American Express, Visa, and MasterCard have been pushing hard into the small-ticket end of the credit card market. The purchase of items such as fast food meals, movie popcorn, and candy have been targeted as growth areas for credit card usage. This is an example of a _____ strategy on the part of the credit card companies. (Points : 5) market penetration market development product development diversification product dissemination Question 33. 33. (TCO 3) Imagine that you are creating a marketing plan for a company that will sell bikes. As you consider the marketing program, what types of strategy should you consider including in the plan? Propose one specific example of each type of strategy that you are considering, and present your rationale (reasoning) for your strategy selections. (Points : 30) Question 34. 34. (TCO 1) Imagine that you are the marketing manager responsible for developing marketing strategy for a bicycle company. Propose the strategic marketing process you will use, being sure the name the stages, the activities included in the stages, and stage-specific examples related to marketing bicycles. (Points : 30) Question 35. 35. (TCO 4) You are the product manager responsible for a horrible product failure, but in your wisdom, you are evaluating why the product failed. What factors would you consider in your evaluation? What actions could you have taken to prevent the failure? Does product innovation need a willingness to accept failure? (Points : 30)

1. (TCO 4) Three commonly used methods of evaluating marketing programs are marketing metrics, marketing dashboards, and (Points : 5)       

Question 2. 2. (TCO 1) Marketing plans must enable results to be compared with planned targets, which allows _____, the flexibility to update original plans. (Points : 5)

Question 3. 3. (TCO 3) Which marketing strategy focuses on a single market segment but adds additional product lines? (Points : 5)

Question 4. 4. (TCO 1) Based on relative competitive scope (broad target to narrow target) and source of competitive advantage (lower cost to differentiation), Porter’s four generic business strategies are differentiation, cost focus, cost leadership, and (Points : 5)

Question 5. 5. (TCO 2) Which of the following pieces of information is used in the implementation phase of the strategic marketing process? (Points : 5)

Question 6. 6. (TCO 6) Which of the following pieces of information is used in a SWOT analysis, the first step of the planning phase of the strategic marketing process? (Points : 5)

Question 7. 7. (TCO 3) All of the following steps are part of the planning process used to develop an organization’s advertising program, except (Points : 5)

Question 8. 8. (TCO 2) The proper blend of elements in the promotional mix depends on the type of product. The three specific characteristics to be considered are _____, risk, and ancillary services. (Points : 5)

Question 9. 9. (TCO 4) At which stage in the product life cycle would your promotional objective be to persuade the consumer to buy the product rather than substitutes? (Points : 5)

Question 10. 10. (TCO 2) The _____ includes advertising, personal selling, sales promotion, public relations, and direct marketing. (Points : 5)

Question 11. 11. (TCO 8) Which of the following statements about the terms used for marketing intermediaries is true? (Points : 5)

Question 12. 12. (TCO 7) Conspiracy between firms to set prices for a product is called (Points : 5)

Question 13. 13. (TCO 2) _____ involve(s) specifying the role of price in an organization’s marketing and strategic plans. (Points : 5)

Question 14. 14. (TCO 3) The ratio of _____ to price is called value. (Points : 5)

Question 15. 15. (TCO 6) Market segmentation involves aggregating prospective buyers into groups that have common needs and will (Points : 5)

Question 16. 16. (TCO 5) The process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends is called (Points : 5)

Question 17. 17. (TCO 1) The marketing department helps keep the organization focused on creating value both for it and for customers. This is accomplished by (Points : 5)

Question 18. 18. (TCO 1) Which of the following statements about relationship marketing is most true? (Points : 5)

Question 19. 19. (TCO 1) Your neighbor is tired of conventional soft drinks and wants something different. Coincidentally, Cadbury Beverages Inc. has begun distributing Country Time lemonade through the supermarket at a price comparable to that of soft drinks. Which of the conditions needed for marketing to occur is described in this situation? (Points : 5)

Question 20. 20. (TCO 6) Which of the following is the BEST description of the target market for the latest Disney animated movie? (Points : 5)

Question 21. 21. (TCO 3) Which element of the marketing mix is demonstrated when the Mars Company has a sale on M&M’s® brand candies? (Points : 5)

Question 22. 22. (TCO 5) The Lemon Tree is a high-fashion boutique selling top-of-the-line women’s clothing and accessories. The keys to its success include knowing the customers’ changing tastes and providing something different from other retailers. In addition, because of the high value of the merchandise, The Lemon Tree’s management is exploring the use of computerized inventory controls and sales order processing. From this description, one can infer that the environmental category of least importance to The Lemon Tree is (Points : 5)

Question 23. 23. (TCO 7) In 1998, F. Hoffman-LaRoche Ltd. and BASF AG, two international pharmaceutical companies, were ordered to pay $725 million in fines for plotting to raise and fix prices of vitamins used in virtually every home in the United States. This is an example of how _____ forces affect the marketing environment. (Points : 5)

Question 24. 24. (TCO 6) Graham-Field Health Products makes hospital beds and wheelchairs from component parts and materials it buys. It sells its products to hospitals, nursing homes, and retailers of healthcare products. Graham-Field Health Products operates in a(n) _____ market. (Points : 5)

Question 25. 25. (TCO 1) The Book Promoters Association of Canada’s members recently questioned what could be done to rejuvenate the Canadian book publishing industry. Some members claimed the problem was that Canadian retailers had been replaced by Walmarts. Others said the problem was with stodgy promotions. Still others said the problem was caused by too little money being budgeted to fund marketing programs. It was time that Canadian book publishers used _____ to save the industry. (Points : 5)

Question 26. 26. (TCO 3) When Marine Midland Bank sent market researchers with surveys door-to-door in the neighborhoods of its branch banks to ask people with savings accounts why they did not also have checking accounts and credit cards with Marine Midland, the researchers were gathering _____ data. (Points : 5)

Question 27. 27. (TCO 4) Sara Burns is the owner of a company called Spice and was looking for a new product to go with her company’s line of food condiments when a friend suggested combining spices with tea. In the _____ stage of the new-product process, the spices and tea mixtures were exposed to prospective consumers under realistic purchase conditions. (Points : 5)

Question 28. 28. (TCO 4) A few years ago, Who Wants to Be a Millionaire premiered as the first nighttime game show in a couple of decades. Once the show became a hit and televised several nights a week, other networks quickly created their own version of what they hoped to be a successful game show format. Greed and Twenty-One are the names of but two of the new shows that were created to compete with Who Wants to Be a Millionaire. At this point in time, the nighttime televised game show genre entered which stage of its product life cycle? (Points : 5)

Question 29. 29. (TCO 8) In an episode of the Andy Griffith television series, two local farmers were selling the produce they grew on their farms from the backs of their pickup trucks to local people who drove by on the road. The farmers selling their products without wholesalers or retailers were an example of a (Points : 5)

Question 30. 30. (TCO 2) Disney is using an integrated marketing communications program (IMC) to promote group travel to its theme parks, because (Points : 5)

Question 31. 31. (TCO 2) When a news story covers a terrible disaster and viewers are asked to send donations to the American Red Cross, the American Red Cross is receiving (Points : 5)

Question 32. 32. (TCO 8) Recently American Express, Visa, and MasterCard have been pushing hard into the small-ticket end of the credit card market. The purchase of items such as fast food meals, movie popcorn, and candy have been targeted as growth areas for credit card usage. This is an example of a _____ strategy on the part of the credit card companies. (Points : 5)

Question 33.

Question 34.

Question 35.

 

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