saint MBA565 QUIZ 1 35101

Question

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. Question :

________ 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. Question :

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. Question :

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. Question :

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. Question :

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. Question :

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. Question :

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. Question :

Firms making products that require ________face substantial cost increases as these become increasingly scarce.

infinite

near finite

finite renewable

finite nonrenewable

absolute

Question 10. Question :

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. Question :

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. Question :

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. Question :

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. Question :

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. Question :

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. Question :

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. Question :

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. Question :

Consumer expenditures are affected by ________.

savings

debt

credit availability

all of the above

none of the above

Question 19. Question :

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

stakeholders

partners

regulators

consumer triads

supply chain relationships

Question 20. Question :

________ reflects a customer's judgment of a product's performance in relation to his or her expectations.

Loyalty

Satisfaction

Value

Expectations

Comparison shopping

Points Received: 5 of 5

Comments:

Question 21. Question :

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

Question 22. Question :

Allround has the highest awareness and brand trials of any brand.

Question 23. Question :

Which of the following reduces the cough reflex?

Antihistamines

Decongestants

Cough suppressants

Expectorants

Question 24. Question :

Which is not one of the three forms of products?

Capsule

Injection

Liquid

Spray

:

Question 25. Question :

Allstar currently offers three different brands on the market.

Question 26. Question :

The sales force is composed of three categories.

Question 27. Question :

If your budget is less than zero, you can advance the simulation by securing a loan.

Question 28. Question :

Allround is categorized (labeled) as which of the following?

Cold medicine

Cough medicine

Allergy medicine

Nasal spray

All of the above