80Test bank for marketing management a strategic decision making approach 7th edition by mullin

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80Test Bank for Marketing Management A Strategic Decision Making Approach 7th Edition by Mullin

Multiple Choice Questions

When a non-profit organization, like a university, purchases

copying paper for its photocopying machines, what is

it purchasing?

1 A A consumer good.

2 B A consumer service.

3 C An industrial good.

4 D An industrial service.

5 E An emotional good.

“A social process involving the activities necessary to

enable individuals and organizations to obtain what they need and want through exchanges with others” is

a definition of:

1 A distribution.

2 B marketing.

3 C barter.

4 D countertrade.

5 E industrialization.

“Individuals and organizations who are interested and willing

to buy a particular product to obtain benefits that will satisfy a specific need or want, and who have the

resources to engage in such a transaction” is the

definition of a(n):

1 A industrial buyer.

2 B segment.

3 C opportunity.

4 D focus group.

5 E market.

A society cannot reap the full benefits of specialization until

it develops the means to facilitate:

1 A importation of essentials from other societies.

2 B production of essentials by each member of society.

3 C the trade and exchange of surpluses among its members.

4 D countertrade with other societies.

5 E production of goods in addition to services.

What factor has changed in the past 10 years that has made

the customer service function far more important to the firm’s financial success?

1 A global population levels.

2 B global competition levels.

3 C database marketing.

4 D wireless communications.

5 E market fragmentation.

What type of strategy states the company’s mission and its

strengths and policies for growth?

1 A Business-level strategy

2 B Functional strategy

3 C Marketing strategy

4 D Corporate strategy

5 E Segmentation strategy

Factors not created by marketers or other social forces, but

flowing from basic biological and psychological

human makeup, are:

1 A needs.

2 B wants.

3 C demands.

4 D urges.

5 E requirements.

The most important characteristic of marketing as a

business function is its focus on:

1 A interfunctional responsibilities.

2 B customer needs.

3 C barter exchange requirements.

4 D production efficiencies.

5 E technological trends.

Those who sell goods and services directly to final

consumers for their personal, nonbusiness use are:

1 A retailers.

2 B agent middlemen.

3 C merchant wholesalers.

4 D facilitating agents.

5 E commissioned agents.

When a buyer purchases a new Fiat Punto and the purchase

price includes free parts and labor on repairs that

occur within the first three years or 36,000 miles,

whichever comes first, what aspect of the product does this component represent?

1 A Return policy

2 B Warranty

3 C Sales promotion

4 D Allowance

5 E Spare parts availability

Analyzing the 4Cs is necessary to provide the foundation for

a good strategic marketing plan Which of the

following is NOT one among them?

1 A Company

2 B Context

3 C Customers

4 D Cost

5 E Competitors

Those who buy goods and services for their own personal

use or the use of others in their immediate household are:

1 A utilitarian consumers.

2 B organizational customers.

3 C intermediaries.

4 D industrial customers.

5 E ultimate consumers.

When a company is attempting to differentiate its products

to distinguish them from competitors’ products, in which aspect of strategic management planning is the company engaged?

1 A Market segmentation strategy

2 B Distribution strategy

3 C Targeting strategy

4 D Pricing strategy

5 E Positioning strategy

For some brand loyal customers what does wearing Levi’s

501 jeans provide that other jeans cannot?

1 A Need fulfillment

2 B Need creation

3 C Need recognition

4 D Want satisfaction

5 E Want recognition

A gap between a person’s actual and desired state on some

physical or psychological dimension is a(n):

1 A unsatisfied need.

2 B want state.

3 C market inefficiency.

4 D demand function.

5 E intermediary.

Which aspect of the marketing management process does

environmental and competitor analysis represent?

1 A Marketing program components

2 B Implementing and controlling marketing programs

3 C Formulating strategic marketing programs

4 D Market opportunity analysis

5 E Strategic market communication

Studies have shown that, if their complaints were handled

satisfactorily, percent of those who complain would do business with the same company again

1 A 30

2 B 10

3 C 50

4 D 70

5 E 90

When a consumer purchases a product at a convenient

location and when she is ready to use the product, we say that the product has achieved _ utility and _ utility, respectively

1 A time; place

2 B place; time

3 C possession; place

4 D possession; functional

5 E time; possession

When a company is attempting to determine what markets to

target their product towards as part of its strategic marketing planning activities, which of the following is

it attempting to define?

1 A Why its competitors have not already exploited this niche.

2 B What the best promotion vehicle would be for this market.

3 C Which segments have to be targeted.

4 D How to position the product.

5 E What its distribution strategy would be.

Haier, the rapidly growing Chinese manufacturer of washing

machines discussed in the text, modifies its product designs and marketing programs to the needs of

customers in Saudi Arabia The company is:

1 A trying to provide a unique benefit to a segment of the washing machine market.

2 B trying to provide a unique benefit to the overall market for washing machines.

3 C production oriented.

4 D trying to position its product as a me-too type of washing machine.

5 E trying to build economies of scale.

What type of decision is reflected in an organization’s

business-level strategy?

1 A Choosing suppliers

2 B Picking an advertising slogan

3 C Deciding how to compete in its business

4 D Deciding which products to sell

5 E Defining its overall purpose

“The process of analyzing, planning, implementing,

coordinating, and controlling programs involving the conception, pricing, promotion, and distribution of products, services, and ideas designed to create and maintain beneficial exchanges with target markets for the purpose of achieving organizational objectives” is

a definition of:

1 A marketing communications.

2 B marketing management.

3 C marketing strategy.

4 D strategic management.

5 E marketing tactics.

In developed countries, approximately what percentage of

the retail price of consumer products consists of the costs of marketing and distribution of these products?

1 A 10 percent

2 B 30 percent

3 C 50 percent

4 D 70 percent

5 E 90 percent

Because manufacturers and their agents can perform

exchange activities at a lower cost than individual

consumers, we say that they have achieved:

1 A price efficiency.

2 B functional efficiency.

3 C transaction efficiency.

4 D vertical integration.

5 E horizontal integration.

Groups of institutions, or middlemen, that distribute goods

are known as:

1 A pyramid distribution systems.

2 B cohesive distribution system.

3 C horizontal distribution systems.

4 D wheel-and-spoke distribution systems.

5 E marketing channels.

What is the focus of marketing management?

1 A Analysis

2 B Coordination

3 C Beneficial exchange

4 D Distribution

5 E Execution

The desire to drink a Coke instead of orange juice is an

example of a(n):

1 A necessity.

2 B need.

3 C demand.

4 D want.

5 E requirement.

When people buy products to satisfy their wants and needs,

instead of buying the products per se, they are

buying:

1 A performance features.

2 B product attributes.

3 C benefits.

4 D physical attributes.

5 E goods.

In addition to being provided with physical objects, people’s

needs may be satisfied in a less tangible form

through:

1 A differential forms.

2 B products.

3 C goods.

4 D services.

5 E product modifications.

Quality, features, style, options, brand name, packaging,

guarantees and warranties, and service are related to which element of the marketing mix?

1 A Place

2 B Price

3 C Product

4 D Promotion

5 E Personnel

Those who buy goods and services for resale, as inputs to

production of other goods or services, or for use in the day-to-day operations of the organization are:

1 A intermediaries.

2 B ultimate consumers.

3 C organizational customers.

4 D utilitarian consumers.

5 E countertraders.

When PepsiCo attempts to define which products,

promotions, prices, and distribution arrangements to include in its snacks food line, what type of strategy is

it pursuing?

1 A Marketing strategy

2 B Functional-level strategy

3 C Corporate strategy

4 D Operational strategy

5 E Market segmentation strategy

A manufacturer’s representative for General Electric is an

example of which type of “middleman?”

1 A Retailers

2 B Agent middlemen

3 C Merchant wholesalers

4 D Facilitating agents

5 E Commissioned agents

When the market is sufficiently homogeneous, a company

can practice marketing approaches that are:

1 A pre-emptive.

2 B differentiated.

3 C segmented.

4 D situational.

5 E undifferentiated.

The utilization of marketing approaches by hospitals,

theaters, universities and nonprofit organizations:

1 A has not changed compared to practices in the past.

2 B has increased substantially in the recent past.

3 C is outside the domain of marketing per se.

4 D is only appropriate in for-profit situations.

5 E has decreased substantially in the past decade.

Dell Computer’s reliance on the Internet to attract customers

and process orders together with a flexible

manufacturing system that produces computers to order and minimizes finished inventories, and Canon’s reliance on its own factories, salesforce, and

distribution facilities to produce and market its copiers and printers are examples of a:

1 A vertically integrated distribution system.

2 B horizontally integrated distribution system.

3 C wheel-and-spoke distribution system.

4 D cohesive distribution system.

5 E pyramid selling system.

Advertising, personal selling, point-of-purchase displays,

and publicity are related to which element of the

marketing mix?

1 A Place

2 B Product

3 C Price

4 D Promotion

5 E Personnel

The primary advantage to direct distribution for a firm like

Dell computers is:

1 A more control over channel activities.

2 B less hassle for the customer.

3 C broader market coverage.

4 D lower distribution costs.

5 E less hassle for the firm.

When the total market for a given product category is

fragmented into several groups of people having

relatively homogeneous needs, wants, and sought after benefits, these groups are termed:

1 A market fragmentation.

2 B a differentiated market.

3 C a counter-market.

4 D a market segment.

5 E market homogenization.

_ is the combination of controllable marketing variables

that a manager uses to carry out a marketing strategy

1 A Advertising

2 B Pricing strategy

3 C Market segmentation

4 D Publicity

5 E Marketing mix

True - False Questions

Available data suggests that roughly 80 percent of Internet

revenues are from Business-to-Consumer (B2C)

transactions

1 True

2 False

Though the boundaries between functional areas still

remain, marketing programs are increasingly

becoming a group activity

1 True

2 False

When people buy products to satisfy their needs, they are

really buying the benefits they believe the products provide, rather than the products per se

1 True

2 False

Value is a function of extrinsic product features, service, and

price

1 True

2 False

Venus prefers to buy a week’s groceries on a single trip to

the supermarket rather than engage in separate

transactions with a butcher, a baker, and a variety of food processors, thereby increasing transactional

efficiency

1 True

2 False

A product has greater place utility for a potential customer

when it can be purchased with a minimum of risk and shopping time

1 True

2 False

The title marketing manager is necessarily and intentionally

vague because many people are directly involved with

an organization’s marketing activities

1 True

2 False

A brand’s value to the company depends on how much value

the company thinks the brand provides customers

1 True

2 False

The primary purpose of marketing activities is to facilitate

and encourage exchange transactions with potential customers

1 True

2 False

Each market segment seeks a different set of benefits from

the same product category

1 True

2 False

Lifetime customer value is the present value of a stream of

revenue that can be produced by a customer over

time

1 True

2 False

A service can be defined as “any activity or benefit that one

party can offer another that is essentially intangible and that does not result in the ownership of anything.”

1 True

2 False

All marketing activities that are performed in-house are

within the domain of the marketing department

1 True

2 False

The intangible nature of many services can create unique

challenges for marketers

1 True

2 False

According to management guru Peter Drucker, everything a

company does internally is a cost center

1 True

2 False

Marketers and other social forces can create needs deriving

from the biological and emotional imperatives of

human nature

1 True

2 False

The laws of probability dictate that at least half of all new

products should succeed if a sufficient amount is

spent on marketing research

1 True

2 False

Implementing a marketing plan requires cooperation and

coordination across many specialized functional

areas, but the final authority should always be the marketing department In short, marketing should not

be “everybody’s business.”

1 True

2 False

In the financial markets it is a company’s top line—its sales

—that is most important

1 True

2 False

Decreased division and increased specialization of labor are

some of the most important changes that occur as societies move from a primitive economy toward

higher levels of economic development

1 True

2 False

An unsatisfied need is a gap between a person’s actual and

desired states on some physical or psychological dimension

1 True

2 False

The controllable elements of a marketing program are the

product offering; price; promotion; and place

1 True

2 False

The four Cs that need to be analyzed before decisions are

made concerning specific components of the

marketing program are customer, cost, category, and the company itself

1 True

2 False

Auction sites, such as eBay, QXL are examples of

Consumer-to-Consumer (C2C) channels

1 True

2 False

In the first part of a marketing plan, the marketing manager

usually details the strategy for the coming period

1 True

2 False

Internal control of the full range of marketing functions and

activities is referred to as vertical integration

1 True

2 False

Information available over the Internet is affecting consumer

purchase patterns even when the purchases are made

in traditional retail outlets

1 True

2 False

IBM has reduced its focus and the proportion of resources it

devotes to its traditional computer hardware

businesses and is now seeking future growth and profits by investing heavily in developing information engineering, software, and business consulting

services This change in emphasis reflects IBM’s new business-level strategy

1 True