92 test bank for marketing management knowledge and skills 10th edition by peter

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92 Test Bank for Marketing Management

Knowledge and Skills 10th Edition by Peter

Multiple Choice Questions - Page 1

The Steakhouse is a restaurant selling steaks Its mission

statement was to provide its customers with the world’s best

steaks Changes in consumer tastes resulted in fewer customers for the steakhouse The company had to venture into new and different markets to maintain profitability These new conditions and a redundant mission statement would make the steakhouse a(n)

1 a process related organization.

1 a Organizations need more planning to devise better sales strategies.

2 b Marketing strategies should focus on production orientation.

3 c Managers need to first identify customer needs and then work backwards

to devise products and services to satisfy these needs.

4 d Organizations need new customers; hence the need to manipulate customers to do what suits the interests of the firm.

The guidelines for executing a marketing philosophy includes all

of the following EXCEPT

1 a Creating customer focus throughout the business.

2 b Managing the culture of your organization along with strategy and

structure.

3 c Commitment to continuous improvement and innovation.

4 d Devising methods to attract customers to current products.

All of the following are key elements that the management must take into account while developing a statement of mission,

EXCEPT

1 a the organization’s history.

2 b the organization’s distinctive competencies.

3 c the organization’s culture.

4 d the organization’s environment.

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

1 a The company has a customer orientation.

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

3 c The company is determined to satisfy customer needs.

4 d The company wants to use a customer focused strategy.

Zest sports, manufactures sports goods They introduce a new product targeted at children between ages 7 and 10 The

marketing team envisions an entirely new marketing strategy for its sport goods This is an example of which type of marketing?

1 a Product

2 b Service

3 c Cause

4 d Place

Ecolon is a major manufacturer of wind turbines and related

equipment, and is also a leader in turbine installations and

maintenance In large organizations such as this, the marketing plans of individual departments are usually guided by

1 a plans rolled out by the production unit.

2 b sales strategies of the marketing department.

3 c planning activities of the organizational units.

4 d strategic plans or blueprints for the entire organization.

The organization’s _ dictates the opportunities, constraints and threats that must be identified before a mission statement is developed

3 c management needs.

4 d customer needs.

Effective marketing requires that _ come first in

organizational decision making

4 d personal marketing orientation.

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.

Fifteen years ago Frank and Emily Frazer started the Vidalia Onion Store for the purpose of sharing the taste of sweet Vidalia onions with the world In recent years, the couple has added otherGeorgia products, such as peanuts, peaches and pecans to its inventory, without changing the business’s name or its mission The store can now be described as a

1 a drifting organization.

2 b customer oriented organization.

3 c competitive organization.

4 d changing organization.

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 is

1 a What is our business?

2 b Who is the customer?

3 c What do customers value?

4 d What is our sales strategy?

Which type of marketing would involve strategies to elect a

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

2 b the sales process is product oriented.

3 c products are advertised frequently.

4 d products are sold at discounts at regular intervals.

The core things that an organization does well are known as its

1 a distinctive values.

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

Focusing on building long-term _ where the initial sale is viewed as the beginning step and not as the end goal, is the crux

of the marketing concept

1 a Production planning

2 b Team planning

3 c Strategic planning

4 d Sales planning

When the mission statement of an organization is focused on markets rather than products, it means that the mission

statement

1 a has an external rather than an internal focus.

2 b needs to divert toward internal problems.

3 c needs to change its focus to services.

4 d is focusing on the narrow class of needs.

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.

The mission statement, or purpose, of an organization is the

description of its reason for

1 a investors, employees, and customers

2 b investors, customers, and politicians

3 c managers, employees, and customers

4 d employees, customers, and families

Organizations expand into new products, new markets and even new industries In this process, the organization’s original purpose

may become irrelevant In these circumstances the organization can be best described as a

1 a of regulations that disallowed their business activities.

2 b of unfair trade practices.

3 c they failed to recognize that strategies need to reflect changing

Which of the following observations is true?

1 a Companies should be managed principally for current cash flows.

2 b Firms that bet solely on the future are immune to takeover and other threatening actions.

3 c An intense focus on the near term can produce risk aversion that may cause stagnation.

4 d Companies should focus solely on long run gains.

91 Free Test Bank for Marketing Management

Knowledge and Skills 10th Edition by Peter Multiple Choice Questions - Page 2

The marketing slogan, “It’s not just for breakfast anymore” has been very successful for the orange juice industry With this

slogan, the orange juice industry is trying to get people who like a glass of orange juice with their breakfast to consider having a glass at another time of the day, like as an afternoon snack

instead of a cola This slogan is most closely related to a

1 a product diversification strategy.

2 b market penetration strategy.

3 c product development strategy.

4 d market integration strategy.

If formulated properly, all of the following are end results of an effective organizational objective, EXCEPT:

1 a They can be converted into mission and vision statements

2 b They will provide direction and serve as a starting point for more specific and detailed objectives at lower levels in the organization

3 c They can establish long-run priorities for the organization

4 d They can facilitate management control because they serve as

standards against which overall organizational performance can be

evaluated

Huggies first started out in the disposable diaper industry It then developed ‘Pull-Ups’ that were disposable training pants for kids who were in the transition stage between diapers and cloth

underwear What kind of a growth strategy did Huggies use when

it developed this new product?

1 a Diversification

2 b Porter’s model

3 c Market penetration

4 d Product development

Which of the following observations pertain to strategic business units?

1 a They share the organizational mission statement.

2 b They have centralized management, no competitors and little autonomy.

3 c They are a number of organizations which have come together to

achieve some common goal.

4 d They can be planned independently of the other businesses of the total organization.

As part of its 1998 summer ad campaign, NBC ran ads that

previewed reruns of popular TV programs and used the slogan,

“New to You” to get people who had missed the shows during the previous season to watch This slogan is most closely related to which of the organizational growth strategies?

1 a Product development

2 b Market development

3 c Market diversification

4 d Market penetration

One of the potential sources of cross functional conflict for a

marketer includes the conflict of rigid budgets vs flexible budgets.This is a conflict associated with which organizational function?

1 a Finance

2 b Production Operation

3 c Accounting

4 d Research and development

At the supermarket, Linda noticed that her favorite stain remover now comes in spray bottles, 2 sizes of aerosol cans and a refill bottle Given this information and the fact that the stain remover has reduced its shelf price by 5 percent, you could say the

manufacturer of the stain remover has implemented a _ strategy

1 a market differentiation

2 b product development

3 c diversification

4 d market penetration

A product development strategy

1 a involves seeking new products for customers not currently being served.

2 b offers product-line extensions of existing products to present customers.

3 c involves merely getting a product to a new market.

4 d deals with developing a production plan for a product.

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 Objectives are not considered dominant necessities to carry out the organizational mission.

3 c 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.

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

strategy used by Bertolli to gain competitive advantage

1 a Product development

2 b Diversification

2 b Worker performance and attitude

3 c Manager performance and responsibility

4 d Productivity

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 newly developed products.

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

In the mid-1990s, McDonald’s opened a new chain of restaurants called Hearth Express Hearth Express was targeted at

McDonald’s current customers who wanted a more leisurely

home-style meal The Hearth Express menu included rotisserie chicken, twice-baked squash, baked beans and fresh baked

bread Identify the strategy used by McDonald’s in introducing Hearth Express

3 c They are too broad and do not rule out any opportunity management might wish to pursue.

4 d They are externally focused instead of having an internal focus.

The Grand Ole Opry shows are played in an auditorium that is at best 75 percent full Most of the audience is over 50 One of the ideas suggested to increase its audience size and appeal to

younger country music fans is to use webcasts of the Opry shows

on the Internet In terms of organizational strategies, this is an example of

1 a They can be converted into specific action.

2 b They serve as a starting point for specific objectives at lower levels in the organization.

3 c They establish short-run priorities for the organization.

4 d They serve as standards against which overall organizational

performance can be evaluated.

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 cannot fulfill the organizational productivity.

4 d The mission is not achievable or realistic.

5.

Healthline is Eckerd Drug Stores’ brand of incontinence products Healthline products sell for $2 to $5 less than the rival Depends brand According to Michael Porter’s model, Eckerd is using a _ strategy to market Healthline products

1 a Strategy based on customer value

2 b Strategy based on differentiation

3 c Strategy based on cost-leadership

4 d Strategy based on diversification

The ability to outperform competitors in providing something that the market values, is called

1 a diversification.

2 b market promotion.

3 c competitive advantage.

4 d market analysis.

Protecting and maintaining resources such as equipment,

buildings, inventory and funds could be a possible objective of which of the following areas of performance?

1 a Physical and financial resources

2 b Productivity

3 c Market standing

4 d Manager performance and attitude

Which strategy focuses primarily on increasing the sales of

present products to present customers?

1 a Market development strategy

2 b Product development strategy

3 c Diversification strategy

4 d Market penetration strategy

Betty’s, a fashion accessories company is continuously on the look-out to expand its market overseas This instance describes

1 a market development.

2 b market segmentation.

3 c market consolidation.

4 d market differentiation.

Freddy’s Ice Cream developed a line of whole fruit sorbets

targeted at people who are loyal Freddy’s consumers, but dislike all the fat and calories in ice cream What organizational growth strategy was used here?

1 a Product development

2 b Diversification

3 c Customer value

4 d Market development

91 Free Test Bank for Marketing Management

Knowledge and Skills 10th Edition by Peter Multiple Choice Questions - Page 3

Since September 11, 2001, the number of people attending

church and looking to religion to provide solace has increased As

a result, Bible publishers have developed the Starting Point StudyBible that explains what they are reading and includes a

dictionary of biblical terms Identify the type of environment which caused this change

2 b Planning done in functional areas of the organization should be

independent of the strategic plan.

3 c There is no direct relationship between strategic planning and the

planning done by managers at all levels.

4 d Marketing executives are involved in the strategic planning process as they influence the process by providing important inputs.

Which of the following were developed to express the idea that the number of labor hours it takes to produce one unit of a

particular product declines in a predictable manner as the number

of units produced increases?

1 a Learning curves