The BCG Global Advantage Diamond portrays the key elements that must be
developed and integrated to secure a strong position in global markets. This framework
includes
a. A market access element
b. A market relevancy element
c. A resource accuracy element
d. All of the above
e. None of the above
Competitors are strongly motivated to react to new product introductions in their
market when:
a. the market is experiencing a low rate of growth.
b. the new product represents a major threat to their market.
c. the new product targets a niche markets.
d. all of the above.
e. (a) and (b) only.
The three principal drivers of organizational learning and growth include:
a. human capital.
b. information capital.
c. organizational capital.
d. All of the above.
e. Only b and c.
The competitive bidding approach that may include deliberations with suppliers
throughout the bidding process is referred to as:
a. closed bidding.
b. open bidding.
c. contractual bidding.
d. institutional bidding.
General plant overhead is an example of _____ costs.
a. direct traceable
b. indirect traceable
c. general
d. attributable
Which forecasting technique uses historical data ordered in time to project the trend and
growth rate of sales?
a. input/output analysis
b. the Delphi method
c. causal techniques
d. time series analysis
e. market survey method
In time series analysis, the _____ component represents regular, recurring movements
within the year.
a. trend
b. cycle
c. seasonal
d. irregular
e. causal
The mechanism to trace the cost of performing logistics services to the customer that
use these services is called:
a. ABC
b. JIT
c. TCO
d. SCM
The formula for calculating adverting cost is:
a. Cost per thousand = Cost per page / Circulation in thousands.
b. Cost per thousand = Circulation in thousands / Cost per page.
c. Cost per page = Cost per thousands / Circulation in thousands.
d. Cost per page = Circulation in thousands / Cost per thousands
Characteristics of effective B2B print ads include:
a. the use of a “rational approach.”
b. a clear description of the product and its benefits.
c. a detailed listing of most pricing considerations.
d. All of the above.
e. Only (a) and (b).
When evaluating channel alternatives, if the feasible system lies between the ideal and
existing system,
a. the existing system can be changed without sacrificing management goals.
b. relaxing management constraints might produce even greater benefits.
c. the fault is not with the channel design, it is with poor management.
d. (a) and (b) only.
e. (a) and (c) only.
Concerning the compensation of manufacturers’ representatives, the business marketer
compensates them on the following basis:
a. percentage commission.
b. a salary.
c. salary plus commission.
d. varies by product category.
e. varies by SIC industry.
Which of the following represent common trade-show objectives?
a. Identification of decision influencers.
b. Handling current customer problems.
c. Providing product, service, and company information.
d. All of the above.
e. Only (a) and (c).
A firm that is able to accomplish production and logistics processes in less time is
addressing which of the following supply chain management goals?
a. Waste reduction.
b. Time compression.
c. Flexible response.
d. Unit cost reduction.
e. Transportation cost reduction.
An advertising objective must:
a. specify what is to be achieved and when.
b. be measurable.
c. be realistic.
d. all of the above.
e. (a) and (c) only.
The stage in the adoption life cycle where a product gains acceptance from segments
within the mainstream market but has yet to achieve widespread adoption is referred to
as:
a. the segmentation phase.
b. the early market phase.
c. the bowling alley phase.
d. the mainstreet phase.
e. the tornado phase.
Since higher costs are incurred in providing higher levels of performance on one or
more of the attributes, the strategists should assess the:
a. relative importance of the attributes to different market segments.
b. strength of the firm’s offering on each of the importance attributes vis-a-vis
competitors.
c. costs associated with the experience effect.
d. (a) and (b) only.
e. (b) and (c) only.
Among technology adopters, these customers serve as a gatekeeper to the rest of the
technology life cycle and their endorsement is needed for an innovation to get a fair
hearing in the organization. However, they do not have access to the resources needed
to move an organization toward a large-scale commitment to the new technology. This
describes:
a. technology enthusiasts.
b. visionaries.
c. skeptics.
d. pragmatists.
e. product champions.
Transactional relationships:
a. are characterized by high levels of information exchange.
b. are emphasized by buyers when the purchase is viewed as less important to the
organization’s objectives.
c. are more likely to involve operational linkages.
d. all of the above
e. (a) and (c) only
Perishability is a unique service characteristic. From the following list, choose the
marketing implication most closely related to this characteristic.
a. Need to use promotion and pricing to even out demand patterns.
b. Use physical cues in promotions to help customers evaluate service quality.
c. Emphasize strict quality control standards.
d. High-level training for service personnel.
The business marketer will find that total revenue will ____ if the price is decreased and
demand is price inelastic.
a. rise a little
b. rise sharply
c. remain the same
d. fall
Business marketing relationships vary in terms of their closeness or degree of
collaboration. Transactions that are almost, if not entirely, void of a close, collaborative
relationship:
a. do not involve the exchange of money.
b. involve long-term, contractual commitments.
c. are one-time exchanges of value between two parties with no prior or subsequent
interaction.
d. intend to move each partner toward the attainment of some long-term strategic goal.
e. none of the above
Which of the following statements concerning an activity-based cost (ABC) system
is(are) correct?
a. ABC analysis illuminates exactly what activities are associated with a particular
product or customer segment and how these activities are linked to the generation of
revenues and the consumption of resources.
b. ABC analysis often relies on percentage allocations that are somewhat arbitrary.
c. ABC analysis segregates the expenses of indirect and support resources by activities.
d. all of the above
e. (a) and (c) only
Products that share a common platform but have different specific features and
enhancements that are required for different sets of consumers constitute:
a. a product family.
b. a product market.
c. derivative products.
d. a product consideration set.
e. heavyweight products.
The sales forecasting approach that utilizes a panel of experts and converts their
opinions into an informed consensus by means of highly structured, multi-stage pooling
is:
a. the Delphi method.
b. executive panel method.
c. the sales force composite.
d. organizational learning.
e. the multiple series method.
Which of the following are reasons for business marketers to employ relationship
marketing activities?
a. Loyal customers are far more profitable than price sensitive customers.
b. Having strong relationships with customers can be hard for competitors to understand
or duplicate.
c. Both (a) and (b) are true.
d. Neither (a) nor (b) is true.
From the following list, identify the item that is least likely to be considered a pure
service.
a. market research
b. security and protection services
c. after-sales equipment repair and maintenance
d. insurance
e. consulting
Conflict often divides participants in the strategy formulation process. Conflict most
often emerges from:
a. bickering within a single functional area.
b. issues surrounding sales territories.
c. turf issues.
d. thought world differences.
e. both (c) and (d)
Marketing managers who are flexible and intelligent in dealing with the firm’s
information and control systems are exhibiting good _____ skills.
a. monitoring
b. allocation
c. interacting
d. organizing
The sales resource grid indicates that a particular territory (planning and control unit)
possesses high PCU opportunity and high sales organization strength. This suggests
which of the following sales resource assignments?
a. Invest a high level of sales resources to take advantage of opportunity.
b. Invest a minimal level of sales resources.
c. Invest a moderate level of sales resources to keep current position strength.
d. Either direct a high level of sales resources to improve position or shift resources to
other PCUs.
Recent research has indicated that the indirect communication effects of advertising
include:
a. increased word-of-mouth communications.
b. increased overall company reputation.
c. improved logistics performance.
d. All of the above.
e. Only (a) and (b).
Speed is becoming an important strategic weapon, particularly in high-technology
markets. Research indicates that the _____ strategy increased the speed of product
development for markets characterized by rapidly evolving technology and
unpredictable patterns of competition.
a. induced
b. experiential
c. autonomous
d. compressed
e. funnel
All of the following are components of a firm’s value network except:
a. suppliers.
b. coalitions.
c. strategic alliance partners.
d. customers.
This mode of international market participation permits a client to require a complete
operational system, together with skills sufficient to allow the unassisted maintenance
and operation of the system. Once the package agreement is on line, the system is
owned, controlled, and operated by the client. This provides an apt description of:
a. licensing.
b. a turnkey operation.
c. a joint venture.
d. contract manufacturing.
e. importing.
Factors that favor keeping products or services at home instead of relocating to rapidly
developing economies include:
a. Protection of intellectual property is critical.
b. High sensitivity to production location.
c. Very high technology content.
d. All of the above.
e. (a) and (c) only.
Demand for services is rarely steady or predictable enough to avoid service
perishability.
The structure of the buying center in a traditional selling focus is indicated by
the____________________and a few other individuals are involved in the buying
decision.
By reducing waste, compressing time, reducing unit costs, and by demonstrating a
flexible response, Dell Computer achieves the four major goals of supply chain
management. Briefly describe the meaning and significance of each of these goals to a
firm like Dell.
Answer:
n/a
Vertical publications are directed at a specific task, technology, or function whatever the
industry.
Interactive marketing, or the use of the Internet, e-mail, and web sites in advertising, is
becoming more common. Compare and contrast direct mail with interactive marketing
as direct marketing tools. What factors should business marketers consider when
deciding on the mix of direct marketing approaches to use?
Answer:
n/a
Bargain hunters are____________________-volume buyers who are very sensitive to
any changes in price or service with respect to products that are very important to their
operations.
Because making competitive bids is costly and time-consuming, firms should choose
potential bid opportunities with care.
Those that have the power in the business buying process are referred to as:
For products that are bought frequently, repetitively, and in small quantities, industrial
distributors provide an efficient channel path.
To diagnose the sources of competitive advantage, domestic or international, Michael
Porter divides the chain of activities performed by a firm into distinct groups. Describe
Porter’s value chain concept and explore its relevance to international strategy.
Answer:
n/a
Manufacturers’ representatives sell noncompeting but complementary products.
In contrast to raw materials, manufactured materials and parts would be classified as
capital items.
As a customer adopts JIT purchasing, the typical order size shrinks and more frequent
deliveries are required.
For innovative products, the goal is to design a supply chain that minimizes logistics
and inventory costs, and assures low- cost manufacturing.
Rather than modifying the firm’s product and service offerings from country to country,
a global strategy requires a patient, long-term campaign to enter every significant
foreign market while maintaining and leveraging the company’s unique strategic
positioning. Agree or disagree? Support your position.
Answer:
n/a
In annual plan control, the objectives specified in the annual plan become the
performance standards that are compared to actual results.