Product Code:- Marketing-Quiz407
1Q-A firm's marketing strategy identifies a firm's target market(s), its four Ps, and _______.
A. its relative market share
B. its promotion strategy
C. a method of pricing and producing its products
D. a method of obtaining a sustainable competitive advantage.
2Q-All of the following are macro strategies to develop customer value and build sustainable competitive advantages EXCEPT ________.
A. customer excellence
B. operational excellence
C. market position excellence
D. locational excellence
3Q-Which of the following is NOT true of a sustainable competitive advantage?
A. It is unique.
B. It should be easy for competitors to match.
C. It is not easily copied.
D. It can often be sustained for a long period of time.
4A-Which of the following would be a factor in providing operational excellence?
Strong supply chain management
Excellent customer service
A strong brand name
Products with a high perceived value
5Q-Many firms are developing websites and entering into e-commerce. This is to improve their _______ .excellence.
6Q-The three major phases of a marketing plan are _______.
A. introduction, application, and execution
B. development, planning, and application
C. planning, implementation, and control
D. planning, execution, and revision.
7Q-"Starbucks aims to inspire and nurture the human spirit—one person, one cup, and one neighborhood at a time." This reflects Starbuck's _______.
B. mission statement
C. SWOT analysis
D. marketing strategy.
8Q-Performing a situation analysis (SWOT) occurs at which phase of a marketing plan?
9Q-Which of the following would NOT occur during the implementation phase of a marketing plan?
C. Identify the business mission
D. Implement the marketing mix.
10Q-To evaluate the effectiveness or performance of a marketing strategy, firms typically use ________.
A. marketing metrics
B. SWOT analyses
C. customer surveys
11Q-A firm's reputation for high-quality products is a (n) ______ for the firm.
12Q-A local coffee shop is known for poor customer service and an unclean, dirty environment. These would be classified as ______ in a SWOT analysis.
13Q-Strengths and weaknesses are _______ factors to a firm while opportunities and threats are _______ factors to a firm.
A. internal; external
B. external; internal
C. relevant; irrelevant
D. irrelevant; relevant
14Q-Your company markets baby products, but the birthrate has been steadily dropping for the past 10 years. This represents a(n) _________ in a SWOT analysis.
15Q-One key _________ for many firms is the economic development occurring in many nations which allows for global expansion into new markets.
16Q-Marriott Hotels recognizes that there are different groups of travelers with different needs, wants and characteristics in their choice of lodging. The process of dividing Marriott's market into these groups is ______.
A. market segmentation
B. market positioning
C. value grouping
D. market mixing
17Q-Most firms cannot cater to the needs of everyone. This is why it is important that marketers engage in ________ to find groups of consumers with different needs and wants they might serve.
A. market mixing
B. market segmentation
18Q-Marriott developed Courtyard Inns specifically for the needs of business travelers. By pursuing this segment with a market offering, Marriott was engaged in _______.
A. market servicing
B. market positioning
C. target marketing
D. target mixing
19Q-Many consumers understand and perceive that Lexus automobiles are of high quality and offer superior service. This is Lexus' market ______.
20Q-In identifying marketing opportunities, which is the correct order of the steps a firm undertakes?
A. Segment, position, target
B. Position, target, segment
C. Segment, target, position
D. Target, segment, position
21Q-In the expanding e-reader market, consumers can access books online using products like Amazon's Kindle and Apple's iPad. This easy access to books represents _______ value.
22Q-In setting a product's price, marketers must be careful not to set it too high, or too low. Ultimately, price is directly related to the ________; a customer has to feel he is getting a good deal if a company wants to win him over.
A. firm's relative market share
B. customer's perceived value
C. customer's position in the market
D. firm's market segment.
23Q-Which element of the marketing mix relates to how companies tell consumers about their products and define their image in the marketplace?
24Q-In delivering value to customers, which of the four Ps is the most important?
A. All of the 4 Ps are of equal importance.
25Q-A firm wanting to measure sales growth compares monthly sales for a given month over the past several years. This type of comparison is referred to as a _______ metric.
26Q-Goodyear is organized by regions: North America, Europe, Middle East and Africa, Latin America and Asia Pacific. These divisions of Goodyear are called _______.
C. strategic business units
27Q-The BCG matrix uses two axes to classify product lines and SBUs. One axis is market growth rate and the other axis is _______.
A. price per share
B. relative market share
C. profit per share
Drelative cost per share
28A-In the BCG matrix, which types of products typically require heavy resource investment to fuel their rapid growth?
A. Question marks
B. Cash cows
29Q-Which type of product in the BCG matrix typically has excess resources which can be used to support other products that need additional resources?
C. Question marks
D. Cash cows
30Q-Market penetration and product development strategies are both focused on a firm's _______ markets.
31Q-A retail chain is increasing its advertising and offering discounts to increase sales among its current customers. This represents a ______ strategy.
A. market penetration
B. market development
C. product development
32A-McDonald's has found that when it enters new foreign markets, the company can still sell some of the same menu items it offers in the United States. So, to some extent, McDonald's is able to use a ______ strategy.
A. market penetration
B. product development
C. market development
33Q-MTV is constantly adding new shows and programming to increase the amount of time its current viewers spend watching the channel. In doing this, MTV is using a _______ strategy.
A. market penetration
C. market development
D. product development
34Q-In 1999 Coca-Cola developed Dasani bottled water to reach a new market for the company—bottled water drinkers. In doing this Coca-Cola pursued a _______ strategy.
B. product development
C. market penetration
D. market development
35Q-Staples offers quality customer service and its own brand of products to establish a ___________.
A. competitive advantage
B. large inventory
C. fun environment
D. marketing plan
36Q--Ethnographic research takes place ________.
A. in focus groups
B. online only
C.dby measuring sales of items
D. through surveys
E.by human observation
37Q-The Staples Mailmate is an example of how Staples offers value by providing consumers with _________.
A. discount products
B. innovative products
C. the lowest possible prices
D. large assortments
E. products that copy the national brands
38Q-A bundle pricing strategy means that the cost is lower when you buy _________.
A. more styles of a product
B. more items at once
C. more often
D. on a regular schedule
E. an assortment of products
39Q-Which is not one of Staples's promotional efforts?
A. Quality service
B. TV commercials
C. The lowest prices of any competitor
E. In-store displays
40Q-When Staples plans its store layout and designs its website, it wants to offer its customers __________.
A. big cost savings
B. luxury products
C. ink and paper
D. an easy experience
E. a huge product selection
41Q-Marketers communicate the value proposition to their customers through a variety of media, such as television and the Internet. Which of the four Ps does this represent?
42Q-The Goodyear Tire Company is organized by regions: North America, Europe, Middle East and Africa, Latin America, and Asia Pacific. These divisions of Goodyear are called
B. strategic business units.
E. marketing mixes.
43Q-According to the BCG matrix, which type of product typically has excess resources that can be used to support other products that need additional resources?
A. Cash cows
C. Question marks
44Q-In an attempt to increase sales during a lagging economy, Macy's has increased its advertising and sales promotions for its current products to stimulate sales in its current markets. Which growth strategy is Macy's employing?
45Q-Which of the following is a marketing metric that might be used to evaluate the performance of a company's implementation of its marketing plan?
Four Ps (price, product, promotion, place)
SWOT analysis (strengths, weaknesses, threats, opportunities)
STP (segmentation, targeting, positioning)
GM (gross margin)
SBU (strategic business unit)
46Q-Which of the following represents the three major phases of a marketing plan?
assessment, action, adjustment
planning, implementation, control
strategy, execution, regulation
design, apply, manage
forecasting, application, management
47Q-A written document composed of an analysis of the current marketing situation, opportunities and threats for the firm, marketing objectives and strategy specified in terms of the four Ps, action programs, and projected income statements is referred to as a(n)
48Q-What two metrics are used in the BCG portfolio analysis to evaluate the various products of a firm?
relative market share and market growth rate
production costs and profit potential
market share and profit potential
market growth rate and strength of product
relative market share and profit potential
49Q-To evaluate the effectiveness or performance of a marketing strategy, firms typically use
a mission statement.
a SWOT analysis.
50Q-A _______ is a measuring system that quantifies a trend, dynamic, or characteristic and is used by marketers to help explain why things happened and also to predict the future.
51Q-he SWOT analysis is typically conducted during which of the following steps in the marketing planning process?
defining the mission
conducting a situation analysis
identifying and evaluating opportunities
implementing the marketing mix
52Q-Starbucks recently introduced Via, its brand of instant coffee, to exploit the growth opportunities for new products in current markets. As he prepared for the instant-coffee product's North American rollout, Chief Executive Howard Schultz called Starbucks Corporation's Via Ready Brew "perhaps the biggest opportunity" in company history. This is an example of which growth strategy?
53Q-When managers at General Motors evaluated all the firms' various divisions and then chose to close both the Saturn and Pontiac divisions, it was involved in
54Q-Which of the following is one of the major considerations involved when a company develops its marketing strategy?
analysis of human resource policies
determination of sustainable business practices
review of all corporate standards
identification of target markets
summary of executive compensation
55Q-Which growth strategy is being used when a firm introduces a new product or service to a market segment that is currently not served by the firm?
1Q-A firm's marketing strategy identifies a firm's target market(s), its four Ps, and _______. A. its relative market share B. its promotion strategy C. a method of pricing and producing its products D. a method of obtaining a sustainable competitive advantage. 1A-A method of obtaining a sustainable competitve advantage
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