Marketing Basics
lev_ra
marketing_2.docxquestion 1
Which of the following refers to a market situation where one firm completely controls a broad product-market?
Answer
Monopolistic competition
Oligopoly
Monopoly
Pure competition
4 points
Question 2
Given its interest in the broad product-market for "ready-to-eat, health-conscious snack foods," which of the following should the GoodHealth Foods Co. do first?
Answer
Develop a plan for getting support from intermediaries
Develop each of the four Ps at the same time
Segment the product-market to try to identify homogeneous submarkets and select an attractive target market
Decide what low-fat product or products it will offer
4 points
Question 3
A well recognized brand or patent is considered to be what kind of strength?
Answer
Marketing strength
Financial strength
Production strength
Engineering strength
4 points
Question 4
The direct market environment:
Answer
includes customers, the company, and competitors.
consists of variables that can be controlled.
is broader in scope than the external environment.
includes economic and technological environments.
4 points
Question 5
The disaggregating step in market segmentation involves:
Answer
brainstorming about very different solutions to various generic needs.
looking for similarities in needs.
selecting target markets.
developing suitable marketing mixes.
4 points
Question 6
A cluster analysis of the toothpaste market would probably show that:
Answer
the broad product-market can be served effectively with one marketing mix.
most consumers are mainly concerned about brightness of teeth.
factors such as taste, price, and whitening are not important.
different market segments seek different product benefits.
4 points
Question 7
The greatest growth in the world's population over the next several years will come from:
Answer
Western Europe.
Africa.
Australia.
Russia and the nations of the former Soviet bloc.
4 points
Question 8
Swanson Beverages, Inc. is using __________ to compare the strengths and weaknesses of its current target market and marketing mix with what its competitors are doing (or are likely to do).
Answer
clustering
competitor analysis
brand positioning
marketing mix review
4 points
Question 9
Which of the following statements BEST describes a generic market?
Answer
In a generic market, sellers offer various, often diverse, ways of satisfying broadly similar needs.
In a generic market, consumers are offered various close substitute ways of satisfying needs.
In a generic market, the characteristics are the same as the product-market.
In a generic market, companies sell unbranded products.
4 points
Question 10
AT&T reacted to the popularity of the cellular phone by adding several cellular models to its line of regular phones. The availability and popularity of cellular phones is most likely due to changes in which two environments?
Answer
Political and cultural
Technological and legal
Legal and economic
Social and technological
Question 11
How can a positioning analysis help a marketing manager identify target market opportunities? If you were a marketing manager for your cell phone company, what would you include in a positioning analysis for that company?
Your response should be at least 300 words in length. You are required to use at least your textbook as source material for your response. All sources used, including the textbook, must be referenced; paraphrased and quoted material must have accompanying citations.
Question 12
How might a firm’s resources limit its search for opportunities? Cite two specific examples for two specific resources.
