Complete the below mcq:
1 A ________ is a cluster of complementary products and services that are closely related in the minds of consumers but are spread across a diverse set of industries.
metamarket
vertically integrated market
horizontally integrated market
marketspace
synchronized market
2 What are the four broad components of holistic marketing?
relationship, internal, position, and performance marketing
integrated, internal, position, and performance marketing
relationship, integrated, internal, and performance marketing
integrated, relationship, social responsibility, and position marketing
relationship, social responsibility, internal, and performance marketing
3 McCarthy classified marketing activities into the four Ps of the marketing mix. These four Ps stand for ________.
product, positioning, place, and price
product, production, price, and place
promotion, place, positioning, and price
place, promotion, production, and positioning
product, price, promotion, and place
4 The "Malaysia, Truly Asia" ad campaign that showcased Malaysia's beautiful landscape and its multicultural society in order to attract tourists is an example of ________ marketing.
event
property
service
place
idea
5 Rising promotion costs and shrinking profit margins are the result of ________.
new and improved technology
disintermediation
industry convergence
privatization
heightened competition
6 Which of the following is considered as a "sin" in the marketing discipline?
focusing too much on new opportunities
targeting a competitor's market share
prioritizing customer relationships over everything else
using technology in an inefficient manner
increasing the marketing budget in times of uncertainty and risk
7 ________ goods constitute the bulk of most countries' production and marketing efforts.
Durable
Impulse
Physical
Luxury
Intangible
8 The marketing concept holds that ________.
a firm should find the right products for its customers, and not the right customers for its products
customers who are coaxed into buying a product will most likely buy it again
a new product will not be successful unless it is priced, distributed, and sold properly
consumers and businesses, if left alone, won't buy enough of the organization's products
a better product will by itself lead people to buy it without much effort from the sellers
9 Organizations catering to the ________ need to price their offerings carefully because these markets usually have limited purchasing power.
business market
global market
nonprofit market
consumer market
exclusive market
10 ________ are basic human requirements, while ________ are the ways in which those requirements are satisfied.
Wants; needs
Demands; wants
Needs; wants
Needs; demands
Demands; needs
11 When a firm aims to underprice competitors and win market share, it is using a(n) ________ strategy that requires relatively less marketing skills as compared to other strategies.
product differentiation
overall cost leadership
focus
domestic customer relationship
price skimming
12 With respect to the core business processes, the ________ includes all the activities involved in developing, and launching high-quality products quickly and within budget.
market-sensing process
new-offering realization process
fulfillment management process
customer acquisition process
customer relationship management process
13 When a business gets to know market segments intimately and pursues either cost leadership or differentiation within the target segment, it is employing a ________.
defined strategy
focused strategy
value-added strategy
competitive advantage strategy
customer-focused strategy
14 Most large companies consist of four organizational levels: the corporate level, the ________, the business unit level, and the product level.
board of director level
major stakeholder level
management team level
division level
strategic level
15 A characteristic of a ________ is that it can be a single business or collection of related businesses that can be planned separately from the rest of the company.
strategic business unit
subsidiary unit
merged unit
niche market unit
specialized business unit
16 Which of the following is NOT one of the four planning activities undertaken by all corporate headquarters?
defining the corporate mission
establishing strategic business units
assigning resources to each SBU
assessing growth opportunities
deciding sales channels
17 The ________ lays out the target markets and the value proposition that will be offered, based on an analysis of the best market opportunities.
organizational plan
strategic marketing plan
corporate tactical plan
corporate mission
customer-value statement
18 Qantas, the Australian national carrier, introduces flights to the Middle East. This is an example of ________.
product development
diversification
market development
market penetration
differentiation
19 The most frequently cited shortcomings of current marketing plans, according to marketing executives, are lack of realism, insufficient competitive analysis, and a ________ focus.
long-term
profit
short-run
product
price
20 When a customer places an order at BookBox.com, the company processes the customer's payment information, sends the order to the nearest warehouse, and ships the order via FedEx. This is best described as the ________.
market-sensing process
customer acquisition process
customer relationship management process
fulfillment management process
new-offering realization process
21 An important force affecting business is the ________ movement, a movement of citizens and government organized to strengthen the rights and powers of buyers in relation to sellers.
human rights
consumerist
environmental
self-determination
materialistic
22 Which of the following is true about trends in worldwide population growth?
Birthrates are on the rise in developed countries.
Overall, the world population growth is declining.
Birthrates are on the rise in developing countries.
Death rates are rising in developing countries.
Population growth is highest in developing countries.
23 The sales forecasting method of ________ builds sets of equations that describe a system and statistically derives the different parameters that make up the equations statistically.
timeseries analysis
statistical demand analysis
econometric analysis
cost effectiveness analysis
exponential smoothing
24 A ________ is a "large social, economic, political, and technological change that is slow toform, and once in place, influences us for some time-between seven and ten years, or longer."
fad
fashion
trend
megatrend
style
25 An efficient method of estimating area market potentials makes use of the ________, developed by the U.S. Bureau of the Census in conjunction with the Canadian and Mexican governments. It classifies all manufacturing into 20 major industry sectors and further breaks each sector into a six-digit, hierarchical structure.
Thomson Reuters Business Classification
Global Industrial Classification Standard
North American Product Classification System
Industry Classification Benchmark
North American Industry Classification System
26 Suppose Concrete Express, a cement manufacturing firm, finds that its sales have increased by 3 percent this year, while industry sales have increased by 5 percent. This implies that ________.
Concrete Express has acquired additional market share in relation to the cement industry
Concrete Express is losing its relative standing in the cement industry
other players in the industry are losing market share
the absolute market share of Concrete Express has declined
Concrete Express's position in relation to the industry has remain unchanged
27 Today, corporations need to make sure that they are good corporate citizens and that their consumer messages are honest in order to positively align themselves with consumers' ________.
views of others
views of organizations
views of themselves
views of the universe
views of society
28 People vary in their views of society and their consumption patterns often reflect their social attitudes. ________ are a major market for movies, music, surfing, and camping.
Makers
Preservers
Escapers
Changers
Developers
29 Each society contains ________, groups with shared values emerging from their special life experiences or circumstances.
stakeholders
cliques
consumer bundles
subcultures
behavioral niches
30 Only one level of industry marketing expenditure will actually occur. The market demand corresponding to this level is called the ________.
market minimum
market share
market forecast
market potential
company demand
31 If a marketing researcher wishes to reach those people who would not give personal interviews or whose responses might be biased or distorted by interviewers, he or she should use ________.
mail naires
telephonic interviews
online interviews
focus groups
observational research
32 According to marketing consultant Pat LaPointe, the ________ measurement pathway of the marketing dashboard focuses on how well marketing expenditures are achieving short-term returns.
customer metrics
unit metrics
cash-flow metrics
brand metrics
productivity metrics
33 Which of the following rules must be kept in mind while framing a naire?
Use broad and loosely defined words in the s.
Avoid using response bands.
Ensure that fixed responses overlap.
Frame hypothetical s.
Allow for the answer "other" in fixed-response s.
34 ________ flash an ad to a subject with an exposure interval that may range from less than one hundredth of a second to several seconds.
Tachistoscopes
Audiometers
Polygraphs
GPS systems
Galvanometers
35 ________ requires people to create a collage from magazine photos or drawings to depict their perceptions.
Brand personification
Projective technique
Visualization
Laddering
Metaphor Elicitation Technique
36 Amity Inc., is a firm which collects and processes household data and sells it to other firms which produce consumer durables. Amity is an example of a ________.
custom marketing research firm
specialty-line marketing research firm
syndicated-service research firm
generic marketing research firm
focused marketing research firm
37 ________ attached to television sets in participating homes now record when the set is on and to which channel it is tuned.
Tachistoscopes
Polygraphs
GPS systems
Audiometers
Galvanometers
38 "Truancy should be checked in schools: 1) Strongly disagree, 2) Disagree, 3) Neither agree nor disagree, 4) Agree, 5) Strongly agree." This is an example of a ________.
Likert scale
semantic differential
multiple choice
Thematic Appreciation Test (TAT)
dichotomous
39 Which of the following is an external marketing metric that companies need to monitor?
resource adequacy
staffing or skill levels
active innovation support
market share
relative employee satisfaction
40 In which of the following types of tests is a picture presented and respondents are asked to make up a story about what they think is happening or may happen in the picture?
visual perception test
Rorschach Ink-blot Test
story completion test
Thematic Apperception Test
Renfrew Action Picture Test
41 ________ is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs.
Performance
Value
Quality
Customer retention
Customer loyalty
42 Satisfied customers constitute the company's ________.
customer relationship capital
customer churn
target audience
high-value customers
customer touch points
43 The skillful use of ________ has made catalog house Fingerhut one of the nation's largest direct-mail marketers.
everyday low prices
expanded home delivery options
database marketing
under-the-line promotions
retailer alliances
44 Total customer satisfaction is measured based on the relationship of ________.
expected value and total customer benefit
perceived performance and expectation
advertised outcomes and real outcomes
past experience and present experience
customer attitude and salesperson's attitude
45 A ________ is an organized collection of comprehensive information about individual customers or prospects that is current, accessible, and actionable for lead generation, lead qualification, sale of a product or service, or maintenance of customer relationships.
customer database
customer mailing list
customer-performance scorecard
customer profitability analysis
customer-value hierarchy
46 Sapphire Toys actually sells more than toys. It also sells branded clothing, music CDs, and books for children. This expansion of dealership sales offerings is an attempt to increase the value of the customer base by ________.
reducing the rate of customer defection
increasing the longevity of the customer relationship
enhancing the growth potential of each customer through cross-selling
making low-profit customers more profitable
terminating low-profit customers
47 Sammy's is a fast food chain that offers burgers, sandwiches, and shakes. It focuses its marketing efforts on all the experiences the customers will have on the way to obtaining their food order and eating it. Hence, Sammy's is focusing its marketing efforts on its ________.
horizontal marketing system
cost versus benefit system
consumption system
marketing channel system
value delivery system
48 Customer relationship management enables companies to provide excellent real-time customer service through the effective use of ________.
reports from mystery shoppers
survey data from customers who have defected
market research
individual account information
demographic trend data
49 ________ can track customer satisfaction directly, measure repurchase intention and also gauge a consumer's willingness to recommend the company and brand to others.
Periodic surveys
Mystery shoppers
Customer loss rates
Customer focus statements
Sales summary reports
50 Which of the following is the first step in customer value analysis?
Examine how customers in a specific segment rate the company's performance.
Assess the company's and competitors' performances on the different customer values against their rated importance.
Identify the major attributes and benefits that customers value.
Monitor customer values over time.
Assess the quantitative importance of the different attributes and benefits.