_____ refers to the division of tasks and activities across positions within the
organizational unit.
A. Formalization
B. Centralization
C. Specialization
D. Orientation
Which of the following is the reason why early entrants into newly emerging industries,
particularly industries based on new technologies, are especially likely to be internally
focused and not very market-oriented?
A.Due to strong competition during the formative years
B.Due to rapid growth in demand for the new product
C.Due to customer demand being less than available supply
D.Due to constraints in resources rarely being an immediate threat to survival
Which of the following results when companies create differences between their brands
and other brands that consumers perceive as meaningful?
A.Brand extension
B.Diversification
C.Line extension
D.Brand equity
Which of the following represents the functional coordination and conflict resolution
factor for the successful implementation of a low-cost defender strategy?
A.SBU will experience moderate levels of inter-functional conflict.
B.SBU will perform best on ROI and cash flow dimensions when conflict resolution
mechanisms are hierarchical.
C.SBU will experience high levels of inter-functional conflict.
D.SBU will perform best on volume and share-growth dimensions when participative
resolution mechanisms are used.
Which of the following is typically the first and foremost objective for marketing?
A.The rate of market growth
B.The level of sales the company achieves
C.The firm’s plan of action for each product-market entry
D.The certainty that the company does not overspend
Strategic business units refer to:
A.a set of managers in a firm that deal with market audits.
B.in-house departments of a firm that are engaged in strategic planning.
C.components of a firm engaged in multiple industries or businesses.
D.exclusive units of businesses that perform SWOT analyses for the company.
The _____ evaluates the profitability of the company’s individual products, markets,
and key accounts.
A.marketing productivity audit
B.marketing functions audit
C.control system audit
D.organization audit
Collaborative filtering:
A.enables firms to compare a consumer’s past purchase to recommend a personalized
newer purchase options.
B.enables firms to identify formal decision rules in the way consumers behave.
C.allows users to specify the nature of what is offered to them and is user-driven rather
than marketer-driven.
D.allows firms to conduct an interactive, online survey with potential target consumers
about their tastes.
What is the expansion for the acronym SMART used in specifying corporate
objectives?
A.Specific, Measurable, Attainable, Relevant, and Time-bound
B.Structured, Manageable, Acceptable, Related, and Theoretical
C.Standardized, Manageable, Accountable, Relevant, and Targeted
D.Structured, Marketable, Accountable, Reusable, and Targeted
Which of the following is typically a part of using customer equity to estimate the value
of alternative marketing actions?
A.Forecasting the costs incurred in promoting products
B.Calculating the lifetime values of each of its customers
C.Assessing the shareholder value of each marketing action
D.Discouraging customer intimacy
According to Porter’s Five Competitive Forces, which of the following is the key force
in the fast-food industry?
A. Threat of new entrants
B. Threat posed by substitute products
C. Bargaining power of suppliers
D. Bargaining power of buyers
_____ is the term marketers use to refer to the value created by establishing customer
preference for one’s brand.
A.Brand extension
B.Brand recognition
C.Brand positioning
D.Brand equity
The bargaining power of suppliers increases:
A.if the cost of switching suppliers is low.
B.if the prices of substitutes are not high.
C.if the suppliers can realistically threaten backward integration.
D.if the supplier’s product is not a large part of the buyer’s value added.
Which of the following objectives can be achieved with a confrontation strategy for
share maintenance?
A.Appeal to late adopters with same attributes and benefits offered to early adopters.
B.Improve ability to retain current customers as market fragments.
C.Increase ability to attract new customers in selected high-growth segments by
focusing resources on them.
D.Improve ability to win new customers who might otherwise be attracted to
competitor’s offering.
Which of the following is true of the introductory stage in a product life cycle?
A.The product is easily available at this stage.
B.The net adoption rate holds steady at this stage.
C.Shakeout or competitive turbulence occurs at the end of this stage.
D.Skimming is one of the pricing strategies applied at this stage.
Which of the following statements about services is true?
A.In most developed economies, the service sector has shown the slowest growth.
B.Services are always tied to a physical product.
C. Good services are mostly tangible in nature.
D.Good services improve customer loyalty over the long term.
HoneyDew, a well-known confectionery, plans to introduce a walnut fudge candy. It
asks some of its regular customers to sample the candy and offer their opinions. This
way the management hopes to estimate the likely number of buyers for the product, if
introduced in its store. Which of the following techniques did HoneyDew use to
forecast sales?
A.Observation
B.Statistical technique
C.Survey
D.Analogy
Explain how share gains are worth more in a growth market than in a mature market.
Write a short note on situation analysis.
Explain the various ways a challenger can target competitors established in the market.
Briefly discuss pricing and distribution policies.
Discuss the limitations of statistical methods, observations, and surveys.
Discuss the strategic implications of the introductory and growth stages of the product
life cycle.
Explain the challenges in macro-level market and industry analysis.