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73 Test Bank for A Preface to Marketing Management 13th

Mutiple Choice Questions - Page 1

The organization’s mission, objectives, strategies, and its portfolioplan are the four major components of its _

1 a The company will appear irresponsible to its long-term customers.

2 b The company will end up engaging in unfair trade practices.

3 c The company will fail to develop business systems that allow for

continuous improvement.

4 d The company will start to produce lower quality products and experience

a reduction in its market share.

A company has the following organizational objective: “To

maintain levels of employee satisfaction consistent with our own and similar industries.” Which of the following areas of

performance does such an objective focus on?

1 a Market standing

2 b Worker performance and attitude

3 c Manager performance and responsibility

4 d Productivity

The organization's environment provides the resources that

sustain the organization In exchange for these resources, the organization must supply the environment with _

1 a services without any additional cost

2 b high priced but quality goods

3 c quality goods at an acceptable price

4 d community service at all times

A popular brand of bed sheets in the 1940s was Indian Head Its manufacturer claimed its sheets were so well-made that

consumers might want to include them in their wills so the sheets could be passed down to their grandchildren The company was

proud of its product quality and formulated its mission statement based on it – “To be the producers of the best bed sheets in the market.” What could potentially be wrong with such a mission statement?

1 a It has an external focus.

2 b It focuses on the market for its high-quality products.

3 c It defines the company in terms of its marketing capabilities.

4 d It focuses on the product rather than on its market.

It is important for the mission statement to be _ because it provides a shared sense of purpose outside the various activities taking place within the organization

long-1 a mass marketing strategies

2 b product-oriented teams

3 c research capabilities

4 d customer relationships

When organizations expand into new products, markets or

industries, their original purpose may become irrelevant Such organizations can be defined as _

1 a drifting organizations

2 b functional organizations

3 c innovative organizations

4 d dynamic organizations

Formulating a strategy based on distinctive competencies

provides the organization with a unique benefit that _

1 a allows the organization to gain advantage over its competitors

2 b allows the organization to retain its internal and product-oriented focus for growth

3 c helps the organization to progress smoothly through the marketing plan

4 d allows the organization to focus on products rather than the market

Cello, the largest smartphone manufacturing company in a

developing country has recently come up with the world’s

cheapest smartphone titled “Zing.” This range of smartphones has all the basic features that one would expect to have in a

smartphone and Cello has priced it very low to ensure vigorous sales The marketing slogan for the “Zing” series is “The cheapestway to get smart.” Cello is using a _ in this scenario

1 a product diversification strategy

2 b market penetration strategy

3 c product development strategy

4 d market integration strategy

Zest Sports Ltd manufactures sports goods and the company recently introduced a new line of sportswear targeted at children between ages of 7 and 10 years The marketing team envisions

an entirely new marketing strategy for the new line of sportswear This is an example of _ marketing

1 a product

2 b service

3 c cause

4 d place

What is most likely wrong with the following mission statement for

a store that sells lighting fixtures: “Our mission is to make sure every customer who buys a lighting fixture at our store is 100 percent satisfied with his or her purchase”?

1 a The mission statement is not specific.

2 b The mission statement is not well framed.

3 c The mission statement does not focus on the product.

4 d The mission statement is not achievable or realistic.

The Candela Company’s marketing and product design involves identifying customer needs, and then, working backwards to

devise products and services to meet those needs Which of the following statements best describes the company?

1 a The company has a customer orientation.

2 b The company does not adhere to the marketing concept.

3 c The company aims to manipulate consumers to increase sales.

4 d The company has a production orientation.

Which of the following statements is true for a firm that adheres strictly to the marketing concept?

1 a Marketing should be primarily focused on selling products to a particular class of customers.

2 b The principal task of the marketing function is to increase the company’s rate of production and devise methods to aggressively attract consumers to purchase products.

3 c The principal task of the marketing function is to find effective and

efficient means of making the business do what suits the interests of

customers.

4 d Marketing managers of the firm must find ways to manipulate customers

to do what suits the interests of the firm.

Which of the following statements about a mission statement is true?

1 a Even though no one denies the importance of the mission statement, it is the least used of all of the management tools.

2 b An effective mission statement takes an internal organizational focus.

3 c It should focus on the physical product or service that the organization is offering at present.

4 d It should focus on the broad class of needs that the organization is seeking to satisfy.

Run for the Cure is an annual marathon that is geared toward raising money for conducting research on breast cancer

Marketers advertize through the local media to attract participantsand volunteers to the event Which of the following types of

marketing is depicted in this scenario?

1 a build trust among its customer base.

2 b generate sufficient revenue from sales.

3 c base its functioning solely on a selling orientation to maximize profits.

4 d create strategic plans or blueprints for the entire organization.

The purpose of the marketing concept is to rivet the attention of marketing managers primarily on serving broad classes of

_

1 a Market development strategy

2 b Product development strategy

3 c Diversification strategy

4 d Market penetration strategy

The things that an organization does so well that they give it an advantage over similar organizations represent that organization’s _

1 a perceived risk factors

2 b distinctive competencies

3 c external opportunities

4 d vendor analysis variables

According to the marketing concept, the customer will be more satisfied and the firm will be more profitable when the:

1 a organizations and customers have a long-term relationship.

2 b organization’s marketing process is solely product-oriented.

3 c products are advertised frequently but have no clear target markets.

4 d firm operates primarily through a selling orientation in the market.

When completed, an effective mission statement will be primarily focused on the:

1 a markets rather than its products.

2 b internal problems of the organization.

3 c needs of the marketing personnel.

4 d narrow class of employee needs.

Midas Corporation is a sporting goods manufacturer Most of its energies and resources are devoted to one line of sporting shoes that has been a reasonable hit in the past The company rarely undertakes any marketing research studies to assess consumer wants and needs and seldom devises new advertising or

promotional strategies The company is exhibiting a _

1 a Develop a mission statement

2 b Distinguish between primary and secondary objectives

3 c Develop an effective marketing mix

4 d Evaluate its marketing plan

When an organization has formulated its mission and developed its objectives, the next task is to develop _

1 a job descriptions

2 b organizational strategies

3 c mission and vision statements

4 d market segmentation dimensions

The Helen Mortimer Foundation is a non-profit organization that develops strategies to encourage people to stop smoking in its efforts to reduce the incidence of lung cancer This is an example

of marketing for a(n) _

1 a Setting organizational objectives

2 b Creating organizational strategies

3 c Creating a mission statement

4 d Creating an organizational portfolio plan

An organization’s mission statement must be _ to be able to provide direction and guidelines to management when they are choosing between alternative courses of action

1 a achievable

2 b motivational

3 c generic

4 d specific

Which of the following is true of organizational objectives?

1 a An organizational objective should reflect on the organization’s finances, rather than its commitment to the customers.

2 b Organizational objectives are not considered to be dominant necessities

to carry out the organizational mission.

3 c Organizational objectives are specific, measurable, action commitments

on the part of the organization.

4 d An organizational objective is distilled to arrive at a specific and

achievable organization mission.

Run With Scissors, Inc., a hair salon, advertizes its trendy and affordable offerings primarily through the use of social media Thetype of strategy the hair salon uses can be classified as marketingfor a _

1 a product

2 b service

3 c cause

4 d organization

Market development strategy involves:

1 a increasing the sale of present products to present customers.

2 b finding new customers for its present products.

3 c targeting present customers for the new products.

4 d leading an organization into entirely new and unrelated businesses.

In determining its mission statement, an organization must

4 d invest a maximum of four to six months of time in determining the

mission statement as it is a superfluous activity.

73 Free Test Bank for A Preface to Marketing

Management 13th Edition by Peter Mutiple Choice Questions - Page 2

The removal of tariffs on the importation of Canadian lumber will adversely affect the U.S lumber industry because Canada is able

to produce lumber much more inexpensively than the U.S This tariff removal is an example of how the _ environment can affect businesses

1 a cooperative

2 b functional

3 c social

4 d legal

The cooperative environment includes:

1 a all firms and individuals who have a vested interest in accomplishing the firm’s objectives.

2 b primarily other firms in the industry that rival the organization for both resources and sales.

3 c the attitudes and reactions of the general public, social and business critics.

4 d protection against business competition and consumer rights.

According to the BCG matrix, _ are often market leaders, butthe market they are in is not growing rapidly

1 a cash cows

2 b question marks

3 c stars

4 d dogs

Which objective allows market share to decline in order to

maximize earnings and cash flow and is appropriate for weak cash cows, weak question marks, and dogs?

2 b A non-profit organization that the firm donates funds to

3 c A government that is imposing restrictions on trade and commerce

4 d A supplier who has been chosen for sole sourcing

Diversification involves:

1 a marketing new products to an existing customer base.

2 b seeking new customers for existing products.

3 c increasing the sale of present products to present customers.

4 d seeking new products for customers not currently being served.

According to the General Electric Portfolio Model, what should an organization do with its SBUs that fall into the yellow zone?

1 a Hold share

2 b Harvest

3 c Divert

4 d Divest

The cellphone market is experiencing rapid growth, but the

cellphones made by Broadwing Inc., have such a low market share that Broadwing is looking to sell its cell phone division According to the BCG Portfolio Model, the Broadwing cellphone division would be an example of a _

1 a Product development

2 b Diversification

3 c Market penetration

4 d Market development

The biotechnology industry has experienced rapid growth in

recent years One of the companies at the forefront of research

on disease and insect-resistant seeds is Biotex’s biotech division The success of this division has led to many economists call it one of the leading firms in the market In terms of the BCG

Portfolio Model, Biotex’s biotech division is a _

1 a dog

2 b cash cow

3 c question mark

4 d star

On what assumption is the BCG Portfolio Model based?

1 a Profitability and cash flow will be closely related to sales volume.

2 b ROI will be directly related to sales volume.

3 c Cash flow is equal to investment.

4 d Investment + Cash flow = Profitability

The _ for a soft-drink manufacturer would include other brands of soft-drinks, fruit juice, bottled water, sports drinks, caffeine-free colas, and dairy beverages

1 a Cost leadership strategy

2 b Market penetration strategy

3 c Market diversification strategy

4 d Product development strategy

Which of the following should a company NOT do when

developing a marketing plan?

1 a Rank present and potential target markets according to profitability

2 b Align the marketing objectives with the organizational objectives

3 c Rank target markets according to the present and future sales volume

4 d Consider only potential customers when developing market share and sales strategies

Healthline is a brand of incontinence products Healthline

products sell for $2 to $5 less than the rival brand called

Depends According to Michael Porter’s model, Healthline is

using a _ strategy to market their products

on competitive advantage is PureFruit using in this scenario?

1 a Strategy based on market development

2 b Strategy based on differentiation

3 c Strategy based on cost-leadership

4 d Strategy based on diversification

_ are methods used to determine how resources should be allocated among the various SBUs

1 a Portfolio models

2 b Matrix models

3 c Variable models

4 d Vector models

In 1997, Apex Medicals sold its chemical products division

because the division was showing slow growth in a market that was rapidly expanding Apex Medicals used a _ strategy withits chemical products division

1 a divest

2 b build share

3 c hold share

4 d harvest

When using a cost leadership strategy, a firm would offer:

1 a a standard, no-frills product.

2 b a highly-differentiated product.

3 c a prestige product

4 d an expensive product of superior design and quality.

_ is the step of the marketing management process which involves analyzing the position of the marketing division of the firm in terms of its past, present, and future situation

1 a Situation analysis

2 b Vendor analysis

3 c Post-hoc segmentation analysis

4 d New product analysis

Using a competitive advantage strategy based on _, a firm seeks to be unique in its industry or market segment along

particular dimensions that the customers value

1 a commercialization

2 b cost leadership

3 c segmentation

4 d differentiation

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