In terms of setting goals and objectives, what is considered to be one of the major
benefits gained from applying for the Malcolm Baldrige National Quality Award?
a. It promotes the development of discontinuous objectives.
b. It helps the firm to set objectives that are difficult for competitors to copy.
c. It helps the firm to focus solely on customer requirements.
d. It promotes the development of goals that are consistent with the firm’s mission.
e. It allows the firm the freedom to pursue other strategic initiatives.
Without a doubt, the most important tool of differentiation is:
a. the product’s image.
b. the brand.
c. the product’s features.
Which of the following is perhaps the main advantage associated with the use of
advertising?
a. It takes little time to develop an advertising campaign.
b. The total dollar layout in advertising is usually low.
c. It is an extremely cost efficient way to reach a large number of people.
d. It can quickly convey a large amount of technical information.
e. It can be quite memorable.
Planning sessions, workshops, formal reports, and personal conversations are all part of
the internal __________ that is necessary to implement marketing strategy using the
internal marketing approach.
a. promotion
b. pricing
c. product
d. distribution
e. process
Ensuring the availability of products in the right place in the right quantities at the right
time in a cost efficient manner is the main focus of:
a. physical distribution.
b. marketing networks.
c. supply chain management.
In today’s business environment, firms that truly focus on customers instill a corporate
culture that places customers and other stakeholders at the top of the organizational
hierarchy. When this occurs, the firm shifts its focus from transactions to __________,
and from __________ to collaboration.
a. market share; competition
b. information; rivalry
c. relationships; competition
Today, though cutting expenses is still a main factor, the desire of many firms to focus
on core competencies is a driving force behind the increase in:
a. category management.
b. channel integration.
c. referent power.
What is perhaps the most important economic reality in the United States over the last
50 years?
a. Real GDP has declined dramatically since the end of World War II.
b. The middle class has been shrinking.
c. Virtually all U.S. citizens have become wealthier.
d. Our economy has shifted to become dominated by intangibles such as services and
information.
e. Our economy is still suffering from the very high inflation rates of the 1970s.
One of the links between strategic planning and marketing implementation is
interdependency, which refers to the fact that:
a. strategy and implementation both result from trial and error.
b. top executives often don’t understand how a strategy is to be implemented.
c. the marketing plan affects how it will be implemented, and implementation affects
the marketing plan.
d. both strategy and implementation must constantly evolve.
e. both strategy and implementation must adapt to environmental changes.
A price reduction offered to channel intermediaries for purchasing specified quantities
of a product at a single time is called a:
a. merchandise credit.
b. buying allowance.
c. selling incentive.
In developing a marketing plan, the section on goals and objectives defines the
parameters by which the firm will measure actual performance. In this respect, the goals
and objectives section is tied closely to the __________ section of the marketing plan.
a. SWOT analysis
b. evaluation and control
c. executive summary
To successfully utilize SWOT analysis as a catalyst for strategic planning, the
marketing manager must focus on several important issues. Which of the following IS
NOT one of these issues?
a. The manager must look beyond the firm’s current product offerings.
b. The manager must find ways to connect the firm’s strengths to its opportunities.
c. The manager must strive to convert weaknesses into strengths.
d. The manager must attempt to minimize the firm’s limitations.
e. The manager must find ways to transform key threats into strengths.
If a researcher were to ask consumers to quickly name the top 3 brands of computers
they might consider purchasing, the most common brands in the __________ would
most likely be Dell, Apple, and HP.
a. brand set
b. purchase set
c. evoked set
Firms that sell luxury products, custom-made products, and services often take the time
to significantly modify their products in an effort to precisely match the needs of
individual customers. These firms are pursuing what type of approach to market
segmentation?
a. individualized marketing
b. niche marketing
c. pinpointed marketing
Hallmark is a good example of a company that uses __________ distribution as a
means of offering two or more lines of the same merchandise through two or more
channels
a. direct
b. secondary
c. split
The Balanced Performance Scorecard cautions business leaders to look at strategy and
performance through four interrelated perspectives. Which of the following IS NOT
one of these perspectives?
a. financial perspective
b. customer perspective
c. vision and strategy perspective