MM01 Assignment 1

Question 1:- The “Specialty product” consumer classification would include such products as:        

a) washing machines, vacations, books

b) soft drinks, bread, milk

c) automobiles, homes, vacations

d) expensive jewelry, gourmet dinners, limited production automobiles

Question 2:- B2B marketing is fundamentally different from consumer goods or services marketing because     a) distribution channels for business products are significantly longer

b) customer relationships for business products tend to be short-term and transactions-based.

c) organizational buyers do not consume the products or services themselves

d) customer service plays a smaller role in the distribution of business products

Question 3:- The term marketing refers to            

a) new product concepts and improvements

b) advertising and promotion activities

c) a philosophy that stresses customer value and satisfaction

d) All of the above

Question 4:- An organization with a ______ orientation assumes that customers will resist purchasing products not deemed essential. The job of marketers is to overcome this resistance through personal selling and advertising         

a) production

b) marketing

c) relationship

d) sales

Question 5:- Four competing philosophies strongly influence the role of marketing and marketing activities within an organization. Which if the following is not a component of market orientation?       

a) Customer orientation

b) Profitability orientation

c) Marketing orientation

d) Competitor orientation

Question 6:- All but one is part of the external marketing environment? Identify           

a) Political

b) Customer

c) Culture

d) Social

Question 7:- Indirect competitors are those who address the same target market but………………, for example Spotify and Apple’s iPod

a) Provide same market offering

b) Different market offering

c) Same market offering but satisfy different need

d) Provide different market offering to satisfy same need

Question 8:- The external environment: choose the correct answer       

a) can be controlled in much the same manner as the internal marketing mix.

b) does not change over time

c) does not have an impact on Fortune 500 companies

d) must be continually monitored by marketing managers

Question 9:- The quadrant of the Boston Consulting Group (BCG) matrix that represents both a high market share and a high rate of market growth includes the       

a) cash cows

b) question marks

c) stars                     

d) dogs

Question 10:- The Strategic Marketing Planning process consists of a series of logical steps and these steps can be aggregated into four phases. Which of the following is not included in the phases of the strategic marketing planning?            

a) Defining marketing strategy

b) Setting the right mission and corporate goals

c) Reviewing the current situation

d) Formulating strategy

Question 11:- ________________ is the process that helps managers understand the nature of the industry, the way firms behave competitively within the industry, and how competition is generally undertaken          

a) Market needs analysis

b) Portfolio analysis                   

c) Strategic market analysis

d) Organizational analysis

Question 12:- The most commonly used basis for segmenting consumer markets is

a) organizational size

b) demographics

c) Behavioral

d) Geographic

Question 13:- Psychographic segmentation is based on           

a) the quantitative side of consumer demographic analysis       

b) the quantitative side of consumer geographic analysis

c) individuals’ residential patterns and life-cycle preferences

d) grouping people according to their psychological characteristics, values, and lifestyles

Question 14:- Before beginning the market segmentation process, a firm should:     

a) identify bases for segmenting markets

b) forecast total market potential

c) forecast market share

d) select target market segments

Question 15:- A key benefit of the STP process is          

a) more effective and efficient matching of company resources to targeted market segments promising the greatest ROMI

b) enhancing a company’s competitive position by providing direction and focus for marketing strategies

c) examining and identifying growth opportunities in the market through the identification of new customers, growth segments, or new product uses

d) All of the above

Question 16:- Key sources of information available to marketing managers include …         

a) Customer information                       

b) Market intelligence

c) Market research.

d) All of the above

Question 17:- Typical situations in which ________________ is used include market potential and market share studies, assessments of customer satisfaction and purchase behaviour, and/or studies of pricing, product, distribution, and promotion activities.     

a) marketing research

b) marketing control     

c) internal company records

d) marketing intelligence

Question 18:- When a marketing research organization chooses a segment of the population that represents the population as a whole, they have chosen a _______________.     

a) market target

b) sample

c) group

d) bi-variant population

Question 19:- A _________________ consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers

a) marketing information system

b) financial information system

c) management information system

d) management intelligence plan

Question 20:- _______________ are used in the positioning process to illustrate differing attributes of a selection of brands.

a) Product features

b) SIC code

c) Perceptual maps

d) Organizational characteristics

MM01 Assignment 2

Question 1:- A _________________ is a brand created and owned by a reseller of a product or service.            

a) licensed brand

b) manufacturer’s brand

c) private brand

d) co-brand

Question 2:- The use of price points for reference to different levels of quality for a company’s related products is typical of which product-mix pricing strategy?          

a) Optional-product pricing

b) Captive-product pricing                  

c) By-product pricing

d) Product line pricing

Question 3:- If a company’s objective were to reach masses of buyers that were geographically dispersed at a low cost per exposure, the company would likely choose which of the following promotion forms?           

a) Advertising

b) Personal selling

c) Public relations

d) Sales promotion

Question 4:- Using a successful brand name to introduce additional items in a given product category under the same brand name (such as new flavors, forms, colors, added ingredients, or package sizes) is called a(n):   

a) line extension.

b) brand extension.

c)

d) new brands.

Question 5:- When a company enters a new product category for which its current brand names are not appropriate, it will likely follow which of the following brand strategies?            

a) When a company enters a new product category for which its current brand names are not appropriate, it will likely follow which of the following brand strategies?

b) Line extensions

c) Brand extensions

d) New brands

Question 6:- A strength of radio advertising is ___________.   

a) the ability to reach segmented audiences

b) the ability to reach prospective customers on a personal and intimate level

c) short lead-times

d) All of the above

Question 7:- Conflicts between different levels of the same channel of distribution are referred to as:         

a) horizontal conflicts

b) vertical conflicts.

c) layer-based conflicts.

d) parallel conflicts.

Question 8:- When producers, wholesalers, and retailers act as a unified system, they comprise a:            

a) conventional marketing system

b) power-based marketing system.             

c) horizontal marketing system.

d) vertical marketing system.

Question 9:- Joining with foreign companies to produce or market products and services is called:           

a) direct exporting                  

b) indirect exporting.

c) Licensing

d) joint venturing.

Question 10:- When Coca-Cola and Nestle formed a joint venture to market a ready-to-drink coffee and tea worldwide, the type of marketing system that was formed would best be described as being a(n):  

a) vertical marketing system

b) parallel marketing system

c) diversified marketing system            

d) horizontal marketing system

Question 11:- ________________ is screening new-product ideas in order to spot good ideas and drop poor ones as soon as possible.     

a) Idea generation

b) Concept development and testing

c) Idea screening

d) Brainstorming

Question 12:- If Honda uses its company name to cover such different products as its automobiles, lawn mowers, and motorcycles, it is practicing which of the following strategies?   

a) new brand strategy

b) line extension strategy

c) multibrand strategy

d) brand extension strategy                       

Question 13:- The biggest or greatest amount of involvement in a foreign market comes through which of the following?      

a) Exporting

b) Joint venturing

c) Licensing           

d) Direct investment

Question 14:- A ______________ is a good offered either free or at low cost as an incentive to buy a product   a) patronage reward

b) spiff

c) price pack

d) Premium

Question 15:- Setting call objectives is done during which of the following stages of the selling process?  

a) Prospecting

b) Preapproach        

c) Approach

d) Handling objections

Question 16:- Pricing to cover variable costs and some fixed costs, as in the case of some automobile distributorships that sell below total costs, is typical of which of the following pricing objectives?     

a) Current profit maximization        

b) Product quality leadership

c) Market share leadership

d) Survival

Question 17:- _________________ are ads that appear while subscribers are surfing online services or Web sites, including banners, pop-up windows, “tickers,” and “roadblocks.”  

a) Online infomercials

b) Online ads

c) Online broadcasts

d) Online bullets  

Question 18:- All of the following are commonly recognized promotion budget formats EXCEPT    

a) the affordable method.

b) the LIFO method.

c) the percentage-of-sales method.

d) the objective-and-task method.

Question 19:- When a company reviews sales, costs, and profit projections for a new product to find out whether these factors satisfy the company’s objectives, they are in which of the following new process development stages?          

a) Concept development and testing.

b)

c) Business analysis

d) Marketing strategy development

Question 20:- _________________ is the concept under which a company carefully integrates and coordinates its many communications channels to deliver a clear, consistent, and compelling message about the organization and its products.  

a) The promotion mix                       

b) Integrated international affairs

c) Integrated marketing communications

d) Integrated demand characteristics