Question 1. 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
Question 2. ________ activities include those the company undertakes to make the product accessible and available to target customers.
Consumer behavior
Market segmentation
Marketing research
Channel
New-product development
Question 3. If a marketing research firm were also known as a field-service firm (e.g., it sells its field interviewing services to other firms), it would be called a ________.
custom marketing research firm
syndicated-service research firm
specialty-line marketing research firm
general-line marketing research firm
systematic marketing research firm
Question 4. The firm's success depends both on how well each department performs its work, and on how well the various departmental activities are coordinated to conduct ________.
core strategies
satellite businesses
core values
core business processes
core technologies
Question 5. One traditional depiction of marketing activities is in terms of the marketing mix or four Ps. The four Ps are characterized as being ________.
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
Question 6. A social definition of marketing says ________.
effective marketing requires companies to remove intermediary parties to achieve a closer connection with direct consumers
a company should focus exclusively on achieving high production efficiency, low costs, and mass distribution to facilitate the broadest possible access to the company's products
marketing is a societal process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with others
marketing is the process of extracting maximal value from consumers to facilitate corporate growth
marketing is the process of aggressive selling and promotion to encourage the purchase of products that might otherwise be unsought by the consumer
Question 7. In the famous case where Coca-Cola introduced New Coke after much research, the failure of New Coke was largely due to a marketing research barrier identified as ________.
a narrow conception of the research
uneven caliber of researchers
poor framing of the problem
late and occasional erroneous findings
personality and presentation differences
Question 8. 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)?
Custom marketing research firms
CORRECT Syndicated-service research firms
Specialty-line marketing research firms
General-line marketing research firms
Nonprofit marketing research firms
Question 9. Firms making products that require ________face substantial cost increases as these become increasingly scarce.
infinite
near finite
finite renewable
finite nonrenewable
absolute
Question 10. Which of the following would be the best illustration of a subculture?
A softball team
A university alumni association
CORRECT Teenagers
A Boy Scout troop
Frequent flyers
Question 11. A company with a ________ may be held back by low brand awareness, low brand availability, benefit deficiencies, and high price.
high market-penetration index
high share-penetration index
low market-penetration index
low share-penetration index
none of the above
Question 12. 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?"
strategic business unit
diverse business unit
growth business unit
niche market unit
specialized business unit
Question 13. Business realignment may be necessary to maximize core competencies. Which of the following would be one of the steps in this realignment process?
reviewing all macro relationships
reviewing global outreach projections
redefining the business concept (the "big idea")
reviewing successes from e-commerce (if any)
revamping the ethics statement
Question 14. Core competencies tend to refer to areas of special technical and production expertise, whereas ________ tend to describe excellence in broader business processes.
process benchmarks
distinctive capabilities
core business values
value statements
mission statements
Question 15. A low market-penetration index indicates ________.
substantial growth potential for all firms
substantial growth opportunities for few firms
it will be very expensive to attract more prospects
price competition is increasing
profit margins are falling
Question 16. Marketers are particularly interested in the consumption of ________, as developing brand loyalty in this age group is likely to lead to the highest consumer lifetime value.
infants
young children
teens
parents
retirees
Question 17. The identification and profiling of distinct groups of buyers who might prefer or require varying product and service mixes is known as ________.
segmentation
integration
disintermediation
targeting
partner relationship management
Question 18. Consumer expenditures are affected by ________.
savings
debt
credit availability
all of the above
none of the above
Question 19. Traditionally, most businesses focused on stockholders. Today, the focus is on what are called ________.
stakeholders
partners
regulators
consumer triads
supply chain relationships
Question 20. ________ reflects a customer's judgment of a product's performance in relation to his or her expectations.
Loyalty
Satisfaction
Value
Expectations
Comparison shopping
Question 21. The volume discount for wholesalers must be the same as for 2500 units due to standard industry practices.
Question 22. Allround has the highest awareness and brand trials of any brand.
Question 23. Which of the following reduces the cough reflex?
Antihistamines
Decongestants
Cough suppressants
Expectorants
Question 24. Which is not one of the three forms of products?
Capsule
Injection
Liquid
Spray
Question 25. Allstar currently offers three different brands on the market.
Question 26. The sales force is composed of three categories.
Question 27. If your budget is less than zero, you can advance the simulation by securing a loan.
Question 28. Allround is categorized (labeled) as which of the following?
Cold medicine
Cough medicine
Allergy medicine
Nasal spray
All of the above