Multiple Choice Questions:
1. Selecting which segments of a population of customers to serve is called ___________.
a. positioning b. managing the marketing effort c. market segmentation d. target marketing e. customization
2. "Build a better mousetrap and the world will beat a path to your door" reflects the ___________ concept.
a. target marketing b. production c. marketing d. product e. selling
3. The set of marketing tools a firm uses to implement its marketing strategy is called the ___________.
a. promotion mix b. TQM c. marketing mix d. marketing effort e. product mix
4. Building, keeping and growing profitable relationships by delivering customer value and satisfaction is called ___________.
a. customer relationship management b. customer lifetime value c. database marketing d. customer perceived value e. societal marketing
5. Which of the following is most essential to any definition of marketing?
a. Demand management b. Making a profit c. Customer relationships d. Making a sale e. The production concept
6. Henry Ford's philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability. This reflects the ___________ concept.
a. selling b. marketing c. societal marketing d. production e. product
7. Kao Corp., which makes Ban deodorant, invited teenage girls to make an ad that would encourage other girls to buy the product. This program is an example of ___________.
a. societal marketing b. consumer-generated content c. the selling orientation d. partner relationship management e. the production concept
8. When the economy tightens, customer loyalty and customer retention become ___________ for marketers.
a. impossible b. short-term but not long-term goals c. more important d. less important e. long-term but not short-term goals
9. ___________ should be market oriented and defined in terms of ___________.
a. Strategic plans; company needs b. Mission statements; customers' needs c. Long-range plans; company needs d. Annual plans; product needs e. Objectives; competitors' threats
10. Most portfolio analysis methods evaluate SBUs on two dimensions, namely ___________ and ___________.
a. market or industry attractiveness; strength of the SBU's position b. market share; strength of the SBU's position c. market diversification; relative market share d. market growth rates; profits e. market penetration; market development
11. The BCG growth-share matrix classifies four types of SBUs. They are ___________, ___________, ___________, and ___________.
a. planning; implementing; leading; controlling b. stars; cash cows; question marks; dogs c. product; price; promotion; placement d. sales; market share; price; promotion e. market penetration; market development; product development; diversification
12. Which of the following does NOT accurately reflect a problem with the BCG matrix approach?
a. It is difficult to define SBUs and measure market share and growth. b. It can be time consuming to implement. c. It focuses on classifying current businesses. d. It focuses on planning for the future. e. It can be costly to conduct.
13. The process of customer-driven marketing involves which of the following?
a. market segmentation; market targeting; differentiation; positioning b. marketing analysis; planning; implementation; feedback c. analysis; targeting; implementation; control d. problem identification; information search; decision; implementation e. product; price; promotion; adaptation
14. Effective positioning begins with ___________ the company's marketing offer in order to give consumers more perceived value.
a. pricing b. aligning c. promoting d. placing e. differentiating
15. In the four Ps of the marketing mix, design, packaging, services and variety, all fall under the category of ___________.
a. place b. position c. price d. promotion e. product
16. Which of the following measures the profits generated by investments in marketing activities?
a. Marketing ROI b. A marketing audit c. A budget d. SWOT analysis e. An executive summary
17. Which of the following terms is used to describe the factors and forces outside marketing that affect marketing management's ability to build and maintain successful relationships with target customers?
a. Target markets b. The cultural environment c. The marketing mix d. The marketing environment e. Strategic planning
18. Banks, credit companies, insurance companies and other businesses that help finance transactions or insure against the risks associated with the buying and selling of goods and services are referred to as ___________.
a. marketing services agencies b. wholesalers c. resellers d. physical distribution firms e. financial intermediaries
19. A consumer organization, environmental group or minority group has challenged your firm's stand on a local issue. Your firm is being challenged by a ___________ public.
a. general b. local c. media d. citizen-action e. government
20. Marketers can take a(n) ___________ by taking aggressive action to affect the publics and forces in their marketing environments.
a. environmental stance b. natural perspective c. proactive stance d. natural-management perspective e. relationship-building perspective
21. The green movement will likely spark the LEAST interest in which of the following?
a. Internet usage b. Biodegradability c. Environmentally sustainable strategies d. Recycling programs e. Social responsibility
22. ___________ is the systematic design, collection, analysis and reporting of data relevant to a specific marketing situation facing an organization.
a. Causal research b. The marketing information system c. Competitive marketing intelligence d. Marketing research e. Competitive marketing research
23. The most common research instrument used is the ___________.
a. mechanical device b. questionnaire c. people meter d. live interviewer e. focus group
24. Which of the following is the best advice about creating research questionnaires?
a. Questions should not be arranged in any particular order. b. Use simple and direct language. c. Avoid any personal questions that may make some respondents uncomfortable. d. Ask difficult questions in the beginning to "weed out" uninterested respondents. e. Ask personal questions in the middle of the instrument.
25. A successful CRM program can be expected to help a company achieve all of the following EXCEPT ___________.
a. providing higher levels of customer service b. understanding the competition better c. developing deeper customer relationships d. creating offers tailored to specific customer requirements e. understanding how to better build the marketing mix
Written Assignment:
1. Briefly explain the societal marketing concept. Give an example of an organization that has effectively used the societal marketing concept.
2. What does the term value delivery network mean? Explain.
3. Marketing departments are organized in several ways. Compare the most common forms of marketing organizations.