Marketing Management
The purpose of the marketing concept is to rivet the attention of marketing managers on serving broad classes of __________ needs.
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supplier
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employee
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partner
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customer
In the research plan, the marketing researcher must define and delimit the problem that will be researched. Which of the following statements describes the type of information that should be included in this section?
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A justification of the marketing research is unprofessional in this section or anywhere in the research plan.
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The scope, that is, the limits of the research effort, should be described in this section.
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This section should explain in detail the type of marketing information that will be gathered.
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All of the above statements accurately define this section.
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For the marketing manager, social class offers some insights into consumer behavior and is potentially useful as a:
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market research information.
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market segmentation variable.
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source of understanding competition's strategy.
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source to predict future trends.
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______ is the type of organizational purchase associated with just-in-time inventory.
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Modified rebuy
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Just-in-time purchase
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Straight task buy
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Straight rebuy
Products are generally classed according to two basic criteria. What are they?
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New products and old products
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Small products and new products
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End use and degree of processing
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Value pricing and quality discounts
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An integrated approach to marketing communications:
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focuses on mass marketing and customer acquisition.
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is most interested in making transactions.
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strives to create brand messages with strategic consistency.
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uses a stable of promotional agencies.
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Personal selling is an integral part of the __________ system.
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marketing
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financing
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advertising
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test market
Prestige pricing, odd pricing and __________ pricing are three types of psychological pricing strategy.
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organizational
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strategic
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bundle
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assured
Over the course of the past 40 years, the fastest growing segment of the American economy has been the:
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management of major accounts.
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production of tangible products.
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performance of services.
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production of consumer electronics.
Tariffs, import quotas, and other types of import restrictions hinder global business. These are usually established to promote __________, and these can be a huge road block for multinational firms.
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trade relations
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self-sufficiency
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dependency
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conflicting interests
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Fundamentals of Management
Fundamentals of Management
Companies may approach social responsibility through formal and informal dimensions such as:
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strategic alliance, licensing, and direct investments.
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legal compliance, philanthropic giving, and whistle blowing.
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ethics, regulators, and rules for behavior.
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committees, training, and common sense.
A firm operates multiple businesses that are not logically associated with one another. The firm is practicing:
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multiple-product strategy.
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single-product strategy.
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related diversification.
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unrelated diversification.
In the rational decision-making process, when a manager is considering the decision’s feasibility, satisfactoriness, and consequences, the manager is:
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evaluating alternatives.
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selecting an alternative.
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recognizing and defining the decision situation.
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identifying alternatives.
According to your textbook, the most common reasons that new business fail include:
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lack of planning and unrealistic expectations for success. (Can be Option 3 as well)
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bad luck, poor investments, and untrained personnel.
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inexperience, neglect, weak control, and insufficient capital.
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wasteful expenditures, indecisiveness in leadership, unethical behavior, and social irresponsibility.
A firm systematically delegates power and authority throughout the organization to middle- and lower-level managers. This firm is practicing:
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delegation.
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authority replacement.
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responsibility coordination.
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decentralization.
The set of organizational activities directed at attracting, developing, and maintaining the effective workforce is called:
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occupational relations and investment management.
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human resource management.
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labor relations management.
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human capital investment.
An employee who says, “I feel very angry that I have been passed over for this promotion” is exhibiting which component of an attitude?
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Affective component
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Cognitive component
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Intentional component
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Cognitive dissonance component
A firm has decided to use alternative forms of work arrangements. These arrangements could include:
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empowerment, participation, and recognition.
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merit pay, incentive pay, and additional time off.
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job sharing, telecommuting, and flexible work schedules.
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stock options, gain sharing, and collective bargaining.
In a particular organization, the operations manager communicates with other managers in the organization, for example the marketing manager. This is an example of __________ communication in which communication occurs more among managers than among non-managers.
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subordinate
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departmental
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vertical
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horizontal
Sometimes conflict is used by management to force change on an organization. Conflict can be stimulated by:
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matching work habits of employees.
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hiring outsiders to shake things up.
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compromise.
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expanding the resource base.
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Marketing Priciples
Supply chain management involves __________ the efforts of suppliers, manufacturers, warehouses and stores.
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separating
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distinguishing
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creating back-up systems for
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integrating
The goal of customer relationship management is to:
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manage every customer relationship differently.
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manage every customer relationship to maximum potential profitability.
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reduce inefficient relationships through customer care.
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identify and build loyalty among a firm's customers.
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Using profit as the sole guide for corporate action can lead to short term profits but:
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increased corporate social responsibility options.
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long-term loss of customers.
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more complicated measurement challenges.
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increased tax liabilities.
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Compared to the B2C process, the information search and alternative evaluation steps in the B2B process are:
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centrally planned.
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less focused on customer value creation.
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identical.
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more formal and structured.
After defining objectives and research needs, the next step in the marketing research process involves:
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evaluation.
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processing.
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analysis.
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design.
Between concept testing and market testing, a firm should engage in which stage of the product development process?
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Product development
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Marketing research
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Brainstorming
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Determining potential ROI
A static demand curve assumes:
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income is derived from demand.
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price is constant and fixed costs change.
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everything except price remains constant.
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a change in quantity demanded causes a change in price.
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When electronic data interchanges (EDIs) are used to describe new products and provide pictures and information they support the __________ function in the four P's of marketing.
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product
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price
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promotion
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place
The three elements in any IMC strategy are the consumer, the channels, and:
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direct marketing feedback.
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the Web track-software.
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the results.
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event sponsorship.
The "Got Milk?" ads are an extremely effective __________ campaign.
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brand focused
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consumer generated
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primary demand
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selective demand
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