Ken's Property Management is a small, local start-up company
Ken's Property Management is a small, local start-up company that offers home owners full service property management that includes lawn maintenance, irrigation system maintenance, and home repairs and maintenance. Ken plans to target older home owners who no longer want the responsibility of taking care of the day-to-day home ownerships tasks. Ken does not currently have a website and has decided to hire an external company to create one for his new business. Ken's daughter, Cindy, does not work for the business but has recently graduated from college and know a lot about web design. Ken has discussed possible web site designers with Cindy and asked for her input. In this situation, Cindy is playing the role of _________________ in the buying center for Ken's Property Management:
A) influencer
B) purchaser
C) user
D) none of the above
Which one of the following is NOT used effectively as a base for segmenting consumer markets?
A) lifestyles
B) customer size
C) geographic location
D) behaviors
The producer of an expensive brand of designer jeans is most likely to choose this type of channel strategy:
A) exclusive distribution
B) inclusive distribution
C) selective distribution
D) intensive distribution
This step in The Marketing Research Process involves outlining what the primary data collection should discover in very specific points and is often overlooked by researchers:
A) developing hypotheses
B) problem definition
C) research method design
D) setting research objectives
This step in the Marketing Process involves identifying the target market and developing the marketing mix:
A) Setting marketing objectives
B) Developing marketing strategies
C) Implementing marketing strategies
D) Evaluating whether objectives have been met
When Samsung introduced its newest HD TV, it gave incentives to retailers such as Best Buy to carry its brand but also advertised on TV directly to end consumers. The promotion directed to consumers can best be described as:
A) a pull promotional strategy
B) personal selling
C) a B2B promotion
D) a push promotional strategy
Which one of the following statements about pricing strategy is FALSE:
A) pricing objectives must be consistent with objectives for the other marketing mix variables
B) a company can make a profit using either a profit maximization or a sales maximization strategy, depending on the situation
C) smart marketers use price discounts as a sustainable competitive advantage
D) pricing decisions have many legal implications
A brand is best defined as:
A) the spoken part of the brand
B) a promise or an organization's commitment to its target market
C) the symbol or design part of the brand
D) the name of a product that is owned or controlled by the manufacturer
Which of the following statements about supply chain management is TRUE?
A) The area of supply chain management has assumed increased importance in most large companies.
B) Supply chain management is often referred to as logistics.
C) A marketing channel is a subset of a supply chain
D) All of the above are true statements.
A reseller is a business buyer that:
A) manufactures goods or provides services
B) is typically a government buyer
C) includes such organizations as hospitals, schools and correctional facilities
D) adds value to products by providing transportation, storage, financing and other services in addition to a mark-up
When Wal-Mart opened stores in Mexico, it was pursuing a _________________________ strategy.
A) Market Penetration
B) Market Development
C) Product Development
D) Diversification
Which one of the following statements about a marketer's controllable environment is TRUE:
A) controllable variables are considered to me macro-environmental variables
B) decisions about one of the 4 P's must be made independently of the other P's
C) strategy decisions about one of the controllable variables influences strategy decisions about the others
D) all of the above are TRUE
In manufacturing garage door openers, Genie purchases preassembled motors from an independent supplier. These motors are consider to be:
A) component parts
B) raw materials
C) MRO supplies
D) process materials
Which one of the following promotional activities is incorrectly often referred to as "free advertising":
A) publicity
B) personal selling
C) sales promotion
D) public relations
The environment in which an organization plans its marketing strategy is BEST characterized as:
A) static, that is it changes very little
B) constantly changing
C) only important to consider after a target market is selected
D) with competitors in the center as the key planning variable
An organization's internal environment represents a strong influence on marketing strategy and can be a(n) ______________________ for the marketing organization.
A) opportunity or threat
B) strength or weakness
C) strength and opportunity
D) all of the above
Indirect channels:
A) are more common in B2B markets
B) are more common for services
C) are comprised of fewer intermediaries
D) none of the above
Of all the marketing mix variables (i.e., the 4 P's), which one does the marketing manager have the least control over:
A) Product
B) Promotion
C) Place
D) Price
When the beer maker, Samuel Adams, advertises that it uses more hops than any other beer maker in the production process, it is positioning itself on the basis of:
A) price
B) product class
C) attributes or benefits
D) product user
Which one of the following targeting strategies is most likely to be effective in today's competitive environment?
A) undifferentiated
B) differentiated
C) concentrated
D) both B and C may be effective
An example of a consumer (versus a B2B) transaction is:
A) the owner of a car dealership buys a boat to indulge his fishing hobby
B) the manager of Office Depot purchases computer paper from her store for her son's school use
C) Both A and B are B2B transactions, not consumer transactions
D) Both A and B are consumer transactions
In the Information Search stage of the Consumer Decision Process a consumer will:
A) always do two things -- search internal mental files and engage in an external search of possible products
B) select a consideration set
C) often seek external information for risky purchases or for products they have never before purchased
D) likely engage in cognitive dissonance
A condominium developer uses this type of targeting strategy when it decides to focus only on very upscale purchasers who can afford to spend a considerable amount of money on a condo and want all of the most desirable features.
A) undifferentiated
B) differentiated
C) niche
D) diversification
To be successful in the present highly competitive environment, an organization should adopt this type of orientation:
A) production orientation
B) market orientation
C) sales orientation
D) profit orientation
Michelle adores a perfume that is made just for her by a small perfumery in her home town. She will not purchase any other fragrance from any other retailer and plans ahead to order her uniquely produced fragrance because it is expensive for her budget. To Michelle, perfume is a:
A) a specialty product
B) a shopping product
C) a convenience product
D) an impulse item
An organization's external environment includes all BUT which of the following?
A) political forces
B) natural forces
C) pricing forces
D) technological forces
An organization should reevaluate whether a particular market segment warrants its own unique marketing mix when:
A) When there are a large number of potential buyers that comprise that segment.
B) When customers in that segment are not easily reachable through marketing communications.
C) When customers in the segment do not respond differently to variations in the marketing mix.
D) An organization should reevaluate under all of the above circumstances.
Developing a unique marketing mix can only be justified in the segmentation process when:
A) the target market will respond differently to the unique mix
B) there are no identifiable differences in the total market
C) when there are unlimited resources for an organization to spend
D) a unique marketing mix can never be justified since it is too expensive to adapt the marketing mix to appeal differentially to different target markets
A product's selling price should be driven by:
A) How much it costs the company to make it
B) Customers' perceived value
C) How much profit the company wants to earn
D) Demand
What is the name of the process that a marketing organization engages in when it attempts to establish a unique place in the minds of its target market, relative to competitors?
A) market segmentation
B) target marketing
C) positioning
D) marketing research
Which one of the following buyers is NOT typically considered a business buyer:
A) the city of New York
B) Wal-mart
C) the University of Maryland
D) all of the above are considered to be business buyers
Customers adapt a new product more readily when:
A) It is a high tech, complex product that they must learn to use
B) It is so new that it is not compatible with current products and usage
C) The relative advantage can be observed and can be understood
D) All new products are readily adopted by customers
Which one of the following intermediaries is not found in a B2B distribution channel:
A) agent
B) producer
C) retailer
D) distributor
This step in the segmentation process is critical to an organization because it influences how resources will be allocated and how the marketing mix will be created:
A) Identification of segmentation bases
B) Profile and analysis of segments
C) Selection of target market(s)
D) Development of marketing mix for each identified target market
When Honda began to manufacture lawn mowers it was pursuing a ____________________ strategy.
A) Market Penetration
B) Market Development
C) Product Development
D) Diversification
Which one of the following criteria is NOT necessary for a customer to be considered part of the total market?
A) ability
B) willingness
C) authority
D) all three are necessary criteria
When a product's demand is characterized as inelastic, it implies:
A) customers are not very sensitive to price fluctuations
B) there are many substitutes in the market
C) when price rises, customer will buy less of the product
D) the product is sold only in business markets
Jane is getting married next year. She has spent days going from bridal salon to bridal salon to select her dress, but has still not found the perfect one. Jill is getting married in 3 months. She ordered a wedding gown from J. Crew's online store after checking a few of her favorite online retailers. The type of consumer decision process that Jane is using is best categorized as _________________, while Jill's decision is better described as _____________________ :
A) problem recognition; routine
B) limited problem solving; routine response behavior
C) extended problem solving; limited problem solving
D) new task; modified re-buy
Which one of the following members of the distribution channel would acquire ownership of a product, add value and then resell the product to another distribution channel member?
A) merchant wholesaler
B) retailer
C) agent
D) all of the above
Ken's Property Management is a small, local start-up company that offers home owners full service property management that includes lawn maintenance, irrigation system maintenance, and home repairs and maintenance. Ken plans to target older home owners who no longer want the responsibility of taking care of the day-to-day home ownerships tasks. Ken does not currently have a website and has decided to hire an external company to create one for his new business. This type of purchasing decision is best categorized as a:
A) straight re-buy
B) modified re-buys
C) extended problem solving
D) new task buy
Ken's Property Management is a small, local start-up company that offers home owners full service property management that includes lawn maintenance, irrigation system maintenance, and home repairs and maintenance. Ken plans to target older home owners who no longer want the responsibility of taking care of the day-to-day home ownerships tasks. Ken does not currently have a website and has decided to hire an external company to create one for his new business. Ken's daughter, Cindy, does not work for the business but has recently graduated from college and know a lot about web design. Ken has discussed possible web site designers with Cindy and asked for her input. In this situation, Cindy is playing the role of _________________ in the buying center for Ken's Property Management:
A) influencer
B) purchaser
C) user
D) none of the above
Which one of the following is NOT used effectively as a base for segmenting consumer markets?
A) lifestyles
B) customer size
C) geographic location
D) behaviors
The producer of an expensive brand of designer jeans is most likely to choose this type of channel strategy:
A) exclusive distribution
B) inclusive distribution
C) selective distribution
D) intensive distribution
This step in The Marketing Research Process involves outlining what the primary data collection should discover in very specific points and is often overlooked by researchers:
A) developing hypotheses
B) problem definition
C) research method design
D) setting research objectives
This step in the Marketing Process involves identifying the target market and developing the marketing mix:
A) Setting marketing objectives
B) Developing marketing strategies
C) Implementing marketing strategies
D) Evaluating whether objectives have been met
When Samsung introduced its newest HD TV, it gave incentives to retailers such as Best Buy to carry its brand but also advertised on TV directly to end consumers. The promotion directed to consumers can best be described as:
A) a pull promotional strategy
B) personal selling
C) a B2B promotion
D) a push promotional strategy
Which one of the following statements about pricing strategy is FALSE:
A) pricing objectives must be consistent with objectives for the other marketing mix variables
B) a company can make a profit using either a profit maximization or a sales maximization strategy, depending on the situation
C) smart marketers use price discounts as a sustainable competitive advantage
D) pricing decisions have many legal implications
A brand is best defined as:
A) the spoken part of the brand
B) a promise or an organization's commitment to its target market
C) the symbol or design part of the brand
D) the name of a product that is owned or controlled by the manufacturer
Which of the following statements about supply chain management is TRUE?
A) The area of supply chain management has assumed increased importance in most large companies.
B) Supply chain management is often referred to as logistics.
C) A marketing channel is a subset of a supply chain
D) All of the above are true statements.
A reseller is a business buyer that:
A) manufactures goods or provides services
B) is typically a government buyer
C) includes such organizations as hospitals, schools and correctional facilities
D) adds value to products by providing transportation, storage, financing and other services in addition to a mark-up
When Wal-Mart opened stores in Mexico, it was pursuing a _________________________ strategy.
A) Market Penetration
B) Market Development
C) Product Development
D) Diversification
Which one of the following statements about a marketer's controllable environment is TRUE:
A) controllable variables are considered to me macro-environmental variables
B) decisions about one of the 4 P's must be made independently of the other P's
C) strategy decisions about one of the controllable variables influences strategy decisions about the others
D) all of the above are TRUE
In manufacturing garage door openers, Genie purchases preassembled motors from an independent supplier. These motors are consider to be:
A) component parts
B) raw materials
C) MRO supplies
D) process materials
Which one of the following promotional activities is incorrectly often referred to as "free advertising":
A) publicity
B) personal selling
C) sales promotion
D) public relations
The environment in which an organization plans its marketing strategy is BEST characterized as:
A) static, that is it changes very little
B) constantly changing
C) only important to consider after a target market is selected
D) with competitors in the center as the key planning variable
An organization's internal environment represents a strong influence on marketing strategy and can be a(n) ______________________ for the marketing organization.
A) opportunity or threat
B) strength or weakness
C) strength and opportunity
D) all of the above
Indirect channels:
A) are more common in B2B markets
B) are more common for services
C) are comprised of fewer intermediaries
D) none of the above
Of all the marketing mix variables (i.e., the 4 P's), which one does the marketing manager have the least control over:
A) Product
B) Promotion
C) Place
D) Price
When the beer maker, Samuel Adams, advertises that it uses more hops than any other beer maker in the production process, it is positioning itself on the basis of:
A) price
B) product class
C) attributes or benefits
D) product user
Which one of the following targeting strategies is most likely to be effective in today's competitive environment?
A) undifferentiated
B) differentiated
C) concentrated
D) both B and C may be effective
An example of a consumer (versus a B2B) transaction is:
A) the owner of a car dealership buys a boat to indulge his fishing hobby
B) the manager of Office Depot purchases computer paper from her store for her son's school use
C) Both A and B are B2B transactions, not consumer transactions
D) Both A and B are consumer transactions
In the Information Search stage of the Consumer Decision Process a consumer will:
A) always do two things -- search internal mental files and engage in an external search of possible products
B) select a consideration set
C) often seek external information for risky purchases or for products they have never before purchased
D) likely engage in cognitive dissonance
A condominium developer uses this type of targeting strategy when it decides to focus only on very upscale purchasers who can afford to spend a considerable amount of money on a condo and want all of the most desirable features.
A) undifferentiated
B) differentiated
C) niche
D) diversification
To be successful in the present highly competitive environment, an organization should adopt this type of orientation:
A) production orientation
B) market orientation
C) sales orientation
D) profit orientation
Michelle adores a perfume that is made just for her by a small perfumery in her home town. She will not purchase any other fragrance from any other retailer and plans ahead to order her uniquely produced fragrance because it is expensive for her budget. To Michelle, perfume is a:
A) a specialty product
B) a shopping product
C) a convenience product
D) an impulse item
An organization's external environment includes all BUT which of the following?
A) political forces
B) natural forces
C) pricing forces
D) technological forces
An organization should reevaluate whether a particular market segment warrants its own unique marketing mix when:
A) When there are a large number of potential buyers that comprise that segment.
B) When customers in that segment are not easily reachable through marketing communications.
C) When customers in the segment do not respond differently to variations in the marketing mix.
D) An organization should reevaluate under all of the above circumstances.
Developing a unique marketing mix can only be justified in the segmentation process when:
A) the target market will respond differently to the unique mix
B) there are no identifiable differences in the total market
C) when there are unlimited resources for an organization to spend
D) a unique marketing mix can never be justified since it is too expensive to adapt the marketing mix to appeal differentially to different target markets
A product's selling price should be driven by:
A) How much it costs the company to make it
B) Customers' perceived value
C) How much profit the company wants to earn
D) Demand
What is the name of the process that a marketing organization engages in when it attempts to establish a unique place in the minds of its target market, relative to competitors?
A) market segmentation
B) target marketing
C) positioning
D) marketing research
Which one of the following buyers is NOT typically considered a business buyer:
A) the city of New York
B) Wal-mart
C) the University of Maryland
D) all of the above are considered to be business buyers
Customers adapt a new product more readily when:
A) It is a high tech, complex product that they must learn to use
B) It is so new that it is not compatible with current products and usage
C) The relative advantage can be observed and can be understood
D) All new products are readily adopted by customers
Which one of the following intermediaries is not found in a B2B distribution channel:
A) agent
B) producer
C) retailer
D) distributor
This step in the segmentation process is critical to an organization because it influences how resources will be allocated and how the marketing mix will be created:
A) Identification of segmentation bases
B) Profile and analysis of segments
C) Selection of target market(s)
D) Development of marketing mix for each identified target market
When Honda began to manufacture lawn mowers it was pursuing a ____________________ strategy.
A) Market Penetration
B) Market Development
C) Product Development
D) Diversification
Which one of the following criteria is NOT necessary for a customer to be considered part of the total market?
A) ability
B) willingness
C) authority
D) all three are necessary criteria
When a product's demand is characterized as inelastic, it implies:
A) customers are not very sensitive to price fluctuations
B) there are many substitutes in the market
C) when price rises, customer will buy less of the product
D) the product is sold only in business markets
Jane is getting married next year. She has spent days going from bridal salon to bridal salon to select her dress, but has still not found the perfect one. Jill is getting married in 3 months. She ordered a wedding gown from J. Crew's online store after checking a few of her favorite online retailers. The type of consumer decision process that Jane is using is best categorized as _________________, while Jill's decision is better described as _____________________ :
A) problem recognition; routine
B) limited problem solving; routine response behavior
C) extended problem solving; limited problem solving
D) new task; modified re-buy
Which one of the following members of the distribution channel would acquire ownership of a product, add value and then resell the product to another distribution channel member?
A) merchant wholesaler
B) retailer
C) agent
D) all of the above
Ken's Property Management is a small, local start-up company that offers home owners full service property management that includes lawn maintenance, irrigation system maintenance, and home repairs and maintenance. Ken plans to target older home owners who no longer want the responsibility of taking care of the day-to-day home ownerships tasks. Ken does not currently have a website and has decided to hire an external company to create one for his new business. This type of purchasing decision is best categorized as a:
A) straight re-buy
B) modified re-buys
C) extended problem solving
D) new task buy
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