How does the company deal with value erosion

Question

1.A company can take several steps to improve the quality of its marketing intelligence. If the company purchases competitive products for study, attends open houses and trade shows, and reads competitors' published reports and stockholder information, the company is using ________ to improve the quality of its marketing intelligence.

1.        sales-force surrogates
2.         intermediaries
3.         external networks
4.         advisory panels
5.         customer feedback systems

2.  When the marketers of a mobile phone manufacturing company want to determine the impact of individual media such as television and online display ads on sales as well as that of trade activities like every day low price, off-shelf display and so on, they usually use ________.

1.        marketing metrics
2.         market segmentation strategies
3.         market capitalization techniques
4.         market basket analysis
5.         marketing-mix models

3.  For each target market, the firm develops a ________. The offering is then positioned in the minds of the target buyers as delivering some central benefit(s).

1.        value offering
2.         niche offering
3.         market offering
4.         segment offering
5.         social offering

4.  A low market-penetration index indicates ________.

1.        substantial growth potential for all firms
2.         substantial growth opportunities for few firms
3.         it will be very expensive to attract more prospects
4.         price competition is increasing
5.         profit margins are falling

5.  Procurement, technology development, human resource management, and firm infrastructure are handled in certain specialized departments and are called ________.

1.        materials handling
2.         support activities
3.         inventory activities
4.         primary activities
5.         benchmark activities

6.  Consumer expenditures are affected by ________.

1.        savings
2.         debt
3.         credit availability
4.         all of the above
5.         none of the above

7.  When a business gets to know market segments intimately and pursues either cost leadership or differentiation within the target segment, it is employing a ________.

1.        defined strategy
2.         focused strategy
3.         value-added strategy
4.         competitive advantage strategy
5.         customer-focused strategy

8.  One traditional depiction of marketing activities is in terms of the marketing mix or four Ps. The four Ps are characterized as being ________.

1.        product, positioning, place, and price
2.         product, production, price, and place
3.         promotion, place, positioning, and price
4.         place, promotion, production, and positioning
5.         product, price, promotion, and place

9.  If a marketing researcher asks subjects what kind of person they think of when the brand is mentioned in order to understand how consumers feel about a particular brand, the marketing researcher is using the ________ approach.

1.        word association
2.         projective
3.         visualization
4.         brand personification
5.         laddering

10.  A company with a ________ may be held back by low brand awareness, low brand availability, benefit deficiencies, and high price.

1.        high market-penetration index
2.         high share-penetration index
3.         low market-penetration index
4.         low share-penetration index
5.         none of the above

11.  Marketing feedback and ________ processes are necessary to understand the efficiency and effectiveness of marketing activities and how both could be improved.

1.        control
2.         analysis
3.         measurement
4.         retrospective
5.         consumer behavior

12.  The ________ concept holds that consumers and businesses, if left alone, will ordinarily not buy enough of the organization's products.

1.        production
2.         selling
3.         marketing
4.         product
5.         holistic marketing

13.  The holistic marketing framework is designed to address three key management questions. Which of the following is one of those questions?

1.        Value claims-how does the company deal with value erosion?
2.         Value proposition-how can value propositions be made profitable?
3.         Value chain-are there weak links in the company's value chain?
4.         Value network-how can a company effectively network?
5.         Value exploration-how can a company identify new value opportunities?

14.  Which of the following types of marketing research firms would best be described as being one that gathers consumer and trade information which they sell for a fee (e.g., Nielsen Media Research)?

1.        Custom marketing research firms
2.         Syndicated-service research firms
3.         Specialty-line marketing research firms
4.         General-line marketing research firms
5.         Nonprofit marketing research firms

15.  More than any other group, the ________ cohort accepts cultural diversity and puts personal life ahead of work life.

1.        World War II
2.         postwar
3.         leading-edge baby boomer
4.         trailing-edge baby boomer
5.         Generation X

16.  All of the following are rules of thumb for questionnaire design EXCEPT ________.

1.        making questions as simple as possible
2.         making the questions specific
3.         ensuring that fixed responses overlap
4.         avoiding hypothetical questions
5.         avoiding questions with a negative in them

17.  Much of a brand's strength in consumer markets depends on ________.

1.        developing a superior product
2.         creating superior packaging
3.         ensuring the product's availability
4.         backing the product with engaging communications and reliable service
5.         all of the above

18.  Traditionally, most businesses focused on stockholders. Today, the focus is on what are called ________.

1.        stakeholders
2.         partners
3.         regulators
4.         consumer triads
5.         supply chain relationships       

19.  Time-series analysis, exponential smoothing, and statistical demand analysis are all forms of ________.

1.        expert opinion
2.         market-test methods
3.         buyer intention surveys
4.         past-sales analysis
5.         none of the above

20.  Which of the following terms matches to the phrase "it is a single business or collection of related businesses that can be planned separately from the rest of the company?"

1.        strategic business unit
2.         diverse business unit
3.         growth business unit
4.         niche market unit
5.         specialized business unit

21.  Allstar currently offers three different brands on the market.

1.        True
2.         False

22.  The volume discount for wholesalers must be the same as for 2500 units due to standard industry practices.

1.        True
2.         False

23.  You may develop any product you want in PharmaSim at any time.

1.        True
2.         False

24.  What is the maximum allowable analgesic in a four-hour dose of medication based on FDA regulations?

1.        60 mg
2.         30 mg
3.         1000 mg

There are no restrictions on analgesics
25.  Which statement below is true? Within PharmaSim, you can:

1.        reformulate products.
2.         create line extensions.
3.         create new products.
4.         discontinue a product.
5.         All of the above are true.

26.  Any team member can purchase research.

1.        True
2.         False

27.  Manufacturer volume discounts to retailers are typically within what range?

1.        5% to 30%
2.         10% to 35%
3.         15% to 40%
4.         20% to 45%
5.         30% to 55%