60. Coca-Cola drink vending machines are found all over the world. The newest machines have an
interactive screen that runs advertisements and allows users to obtain free photos of themselves and
ringtones after they have bought a drink. Critics of these new vending machines are concerned that
entertaining technology is being used to market sugary products. In terms of a SWOT analysis, this
concern would be an example of a(n):
a.
weakness
b.
strength
c.
advantage
d.
opportunity
e.
threat
61. _____ is defined as the collection and interpretation of information about forces, events, and
relationships in the external environment that may affect the future of the organization or the
implementation of the marketing plan.
a.
Market sampling
b.
An internal audit
c.
Opportunity analysis
d.
Environmental scanning
e.
Stakeholder analysis
62. After learning that many of their customers were shopping at a nearby health-food store for free-range
chickens and organic produce, IGA grocery stores began stocking more organic items. IGA adjusted
its market strategy based on _____
a.
market sampling
b.
internal audit
c.
environmental scanning
d.
competitive analysis
e.
strategic analysis
63. Which of the following is NOT a commonly studied macroenvironmental force?
a.
Economic
b.
Demographic
c.
Social
d.
Political
e.
Ethical
64. The set of unique features of a company and its products that are perceived by the target market as
significant and superior to the competition is known as a(n):
a.
environmental advantage
b.
experience curve
c.
competitive advantage
d.
market segment
e.
strategic business unit
65. As a customer entered the Hornady store, which sells muzzleloading rifles, a salesperson approached
her and said, “Hornady lead round balls are the musket balls you ought to buy. They are the most
uniform in size and shape, and they are made of pure lead. Our shot is used by the Muzzle Loading
World Champion.” The salesperson was describing Hornady’s:
a.
competitive advantage
b.
strategic strength
c.
tactical opportunity
d.
opportunity mission
e.
quality objective
66. BMW offers customers a four-year, 50,000 mile maintenance-cost-free program called “BMW
Ultimate Service.” The service includes free replacement of brake pads and rotors, wiper blades,
scheduled maintenance, oil changes, and roadside maintenance. This marketing gives BMW a:
a.
strategic edge
b.
competitive advantage
c.
tactical strength
d.
marketing mix
e.
mission statement
67. Each labor and delivery room at the new Dekalb County Medical Center has hardwood floors, soft
lighting, and mission-style furniture. The facility also features a stone fireplace in the lobby, a
bistro-style restaurant, and VIP suites for discerning mothers-to-be. This unique design and furnishings
give the medical center a:
a.
profit-enhanced advantage
b.
competitive advantage
c.
quality objectivity
d.
strategic strength
e.
tactical opportunity
68. Which of the following is NOT a type of competitive advantage?
a.
Management structure
b.
Cost
c.
Product/service differentiation
d.
Niche strategies
e.
All of these choices are types of competitive advantages
69. All of the following are sources of a cost competitive advantage EXCEPT:
a.
reengineering
b.
experience curves
c.
break-even analyses
d.
efficient labor
e.
production innovations
70. _____ show costs declining at a predictable rate as experience with a product increases.
a.
Liquidity growth curves
b.
EOQ graphs
c.
Breakeven analyses
d.
Experience curves
e.
Supply/demand curves
71. Walmart realizes a _____ using its relationships with suppliers to give customers low prices and good
customer service.
a.
brand name strategy
b.
niche competitive advantage
c.
cost competitive advantage
d.
marketing competitive advantage
e.
synergistic competitive advantage
72. Aldi is a no-frills grocery chain. It sells grocery staples right out of crates and boxes with emphasis on
low-priced, private-label brands. Aldi stores are typically about one-third the size of the traditional
supermarket. By controlling expenses, Aldi enables its customers to save 30 to 50 percent compared to
Kroger customers. The chain targets bargain hunters who are willing to rent a cart and bag their own
groceries. Aldi has a(n)
a.
market-homogeneous focus
b.
cost competitive advantage
c.
product aggregation strategy
d.
revenue-based competitive advantage
e.
profit-enhanced advantage
73. Jiffy Mixes does not do any type of traditional advertising or use fancy packaging in marketing its
products. The company stores its own wheat and makes its own flour and little blue boxes. Jiffy is an
example of a low cost strategy based on:
a.
efficient labor
b.
no-frills goods and services
c.
government subsidies
d.
product design
e.
reengineering
74. Zipcar is a car rental service found in many metropolitan areas. It targets people who take mass transit
or carpool to work but who occasionally need a car to run errands, visit the doctor, or check on a sick
child. Zipcar is one of a few companies currently providing cars that can be rented by the hour. Zipcar
has created a(n) _____ advantage.
a.
reengineering
b.
experience curve
c.
service differentiation competitive
d.
alternative market
e.
sustainable competitive
75. Everyone knows the brand name Maytag. Maytag is what many consumers think of when they think of
home appliances. This widely recognized brand name is a source of:
a.
a product differentiation competitive advantage
b.
a cost advantage
c.
market augmentation
d.
a niche competitive advantage
e.
none of these things
76. Arizona Tea is marketed by Vultaggio & Sons. Vultaggio & Sons took a basic drink and put it into
unusual bottles with elaborate designs. The wide-mouthed, long-necked bottles are now considered to
be trendsetters in the new age beverage industry, and customers often buy the tea just for the bottle.
The success of Arizona Tea is based on:
a.
supply-demand curves
b.
reengineering
c.
a product differentiation competitive advantage
d.
a cost competitive advantage
e.
a heterogeneous marketing strategy
77. LaRosa’s is a popular and successful Italian restaurant chain located in the Cincinnati, Ohio area. It is
found only in the “tri–state area” of southwestern Ohio, northern Kentucky, and southeastern Indiana.
For over 50 years, this strategy has given the restaurant a:
a.
brand name strategy
b.
niche competitive advantage
c.
price differentiation advantage
d.
marketing competitive advantage
e.
sustainable competitive advantage
78. Fujisawa is Japan’s seventh-largest pharmaceutical company. It sells drugs for organ transplant patients
to increase the probability the new organ will operate efficiently and not be rejected. Currently, the
only products Fujisawa makes are these organ transplant drugs, which it sells worldwide. Its patents
protect it from competitors. Fujisawa has a:
a.
brand name advantage
b.
niche competitive advantage
c.
cost competitive advantage
d.
marketing competitive advantage
e.
complete competitive advantage
79. Technol Medical Products makes specialty face masks to shield health-care workers from infection.
Because it focuses on this narrow market, it is able to outsell its primary competitors—3M and
Johnson & Johnson. Technol Medical Products has a(n):
a.
aggregated positioning strategy
b.
demarketing focus
c.
heterogeneous target marketing strategy
d.
cost competitive advantage
e.
niche competitive advantage
a.
sustainable
b.
monopolistic
c.
primary
d.
unique
e.
dominant
81. Patents on prescription medications give pharmaceutical companies that own the patents a(n) _____
for 17 years until the patent expires.
a.
targeted market position
b.
sustainable competitive advantage
c.
strategic focus
d.
situational strength
e.
opportunistic privilege
82. iTunes has a(n) _____ as it has exclusive agreements with some of the most sought-after music
corporations that other digital music stores do not have.
a.
targeted market position
b.
sustainable competitive advantage
c.
strategic focus
d.
situational strength
e.
opportunistic privilege
83. A _____ is defined as a statement of what is to be accomplished through marketing activities.
a.
mission statement
b.
business plan
c.
marketing objective
d.
goal-driven directive
e.
marketing criteria
84. All of the following are characteristics of a good objective EXCEPT:
a.
profitable
b.
realistic
c.
measurable
d.
time-specific
e.
compared to a benchmark
85. Of the following, what is the most useful objective for Purina cat food?
a.
To increase sales of Purina brand cat food by 15 percent over 2010 sales of $300 million.
b.
To increase sales of Purina brand cat food between January 1, 2010 and December 31,
2010.
c.
To increase sales of Purina brand cat food from $300 million to $345 million.
d.
To increase sales of Purina Brand cat food.
e.
To increase sales of Purina pet food.
86. All of the following are functions served by objectives EXCEPT:
a.
communicate philosophies and provide direction
b.
motivate employees
c.
clarify executives’ thinking
d.
form the basis for control
e.
guarantee market performance
87. A(n) _____ describes and estimates the size and sales potential of market segments of interest to the
firm and assesses key competitors in these market segments.
a.
marketing orientation
b.
environmental scan
c.
marketing mix audit
d.
target market strategy
e.
market opportunity analysis
88. Heinz is introducing 400 new products in the next two years. To know which markets to reach, Heinz
should first perform a:
a.
market diversification analysis
b.
market audit
c.
social audit
d.
market opportunity analysis
e.
niche analysis
89. The _____ is the unique blend of product, distribution, promotion, and pricing strategies designed to
produce mutually satisfying exchanges with a target market.
a.
internal environmental mix
b.
marketing mix
c.
product mix
d.
product line
e.
market portfolio
90. Subway’s ability to market itself as a “healthy” alternative to traditional fast food offerings most
directly affected the _____ element of the company’s marketing mix.
a.
place
b.
production
c.
product
d.
distribution
e.
target market
91. The typical starting point of any firm’s marketing mix is the:
a.
analysis of what production equipment is available and owned by the company
b.
design of the promotion campaign to be used for the product
c.
selection of the places through which the good or service will be sold
d.
determination of the product’s price, enabling future revenues and budgets to be estimated
e.
development of the good or service to be sold
92. Lands’ End guarantees its products for as long as you own them. The company would seem most
concerned with which element of the marketing mix?
a.
Price
b.
Distribution
c.
Personalization
d.
Promotion
e.
Product
93. Golden Valley Microwave Foods, Inc. is the manufacturer of ACT II popcorn. In its early years, the
company had trouble financing the development and marketing of products for the microwave, so it
chose to participate in a financial arrangement in which it agreed that it would not sell ACT II popcorn
in supermarkets or grocery stores. Which element of the marketing mix was most influenced by this
arrangement?
a.
Product
b.
Place
c.
Price
d.
Public relations
e.
Promotion
94. Making sure products are available when and where customers want them is the job of which element
of the marketing mix?
a.
Advertising strategies
b.
Production strategies
c.
Product strategies
d.
Promotion strategies
e.
Distribution strategies
95. In 2007, Kodak announced that their new line of EasyShare printers would be available only in Best
Buy stores for the first three months following the product launch.This limitation on the _____
element of its marketing mix supported the product’s competitive advantage.
a.
planning
b.
product
c.
promotion
d.
distribution
e.
production
96. InBev bought Anheuser Busch. How will this purchase affect InBev’s marketing mix?
a.
It will only affect the product element of InBev’s marketing mix.
b.
It will only affect InBev’s four Ps—not its marketing mix.
c.
It will affect all of InBev’s marketing mix elements, either directly or indirectly.
d.
It will not affect the promotion or distribution elements of the InBev marketing mix.
e.
It will have no affect on InBev’s marketing mix.
97. GEICO Insurance ads often focus on its reptilian mascot, the GEICO Gecko, who is used to remind
consumers of the company and its benefits. Which of the four Ps does the GEICO Gecko represent?
a.
Promotion
b.
Price
c.
Publicity
d.
Place
e.
Product
98. Wendy’s 99¢ Everyday Value Menu offers several of the chain’s most popular menu items for 99
cents each. This new strategy reflects a change in the _____ element of its marketing mix.
a.
price
b.
production
c.
product
d.
distribution
e.
target market
99. Which of the marketing mix elements is often the most flexible?
a.
Product
b.
Promotion
c.
Publicity
d.
Place
e.
Pricing
100. There is an overabundance of apartments in Atlanta. Post Properties, the owner of many of the
metropolitan area’s largest apartment complexes, has reduced its rent so it can fill vacant apartments.
Which marketing mix element did Post Properties change to create more demand for its apartments?
a.
Production
b.
Personnel
c.
Distribution
d.
Product
e.
Price
101. _____ is the process that turns marketing plans into action assignments and ensures these assignments
are executed in a way that accomplishes the plan’s objectives.
a.
Mechanistic control
b.
Strategic analysis
c.
Implementation
d.
Strategic planning
e.
Strategic design
102. General Motors Corporation has a goal of launching an electric vehicle soon. The car has been in test
drives and they are in the process of working out any bugs that may occur. GM is in the process of
working toward mass production of the vehicle. They are in what stage of the marketing plan?
a.
Product planning
b.
Mechanistic organization
c.
Synergistic control
d.
Strategic diversification
e.
Implementation
103. Compass is a United Kingdom-based catering company that has developed a marketing plan designed
to make it the largest caterer in China within the next two decades. As part of its marketing _____, it
has already begun serving meals on trains that run between Shanghai and Beijing.
a.
policy
b.
implementation
c.
evaluation
d.
control
e.
strategy
104. A(n)_____ is a tightly organized unit under the direction of a manager who, usually, has broad
authority to accomplish a single goal or mission.
a.
SBU
b.
quality control team
c.
task force
d.
joint venture
e.
structural division
105. _____ is the process of gauging the extent to which marketing objectives have been achieved during a
specified time period.
a.
Implementation
b.
Control
c.
Heuristic measurement
d.
Evaluation
e.
Mechanistic compliance
106. _____ provides the mechanisms for evaluating marketing results in light of the plan’s objectives and
for correcting actions that do not help the organization reach these objectives within the budget
guidelines.
a.
Control
b.
Implementation
c.
Reengineering
d.
Planning
e.
Budgeting
107. An international company that needs to develop a way to compare its actual marketing results with
planned results must engage in:
a.
external market research
b.
implementation
c.
comparative analyses
d.
planning
e.
control
108. All of the following are common reasons why companies fail to achieve a marketing objective
EXCEPT:
a.
unrealistic marketing objectives
b.
poor implementation
c.
plan not formalized
d.
inappropriate marketing strategy
e.
changes in the environment after the objective was specified and the strategy implemented
109. A marketing audit is a(n):
a.
thorough, systematic, periodic evaluation of the objectives, strategies, structure, and
performance of the marketing organization
b.
financial examination of the firm’s marketing performance
c.
financial examination of the firm’s accounting records performed by outside consultants
d.
evaluation of the effectiveness of advertising
e.
evaluation of pricing strategies across all the relevant competitors in an industry
110. Le Feast is a catering company that has developed a marketing plan designed to make it the largest
caterer in the country within the next two decades. Which of the following will be useful to the
company to evaluate how successful its efforts have been at the end of the first decade?
a.
SWOT analysis
b.
Environmental scan
c.
Competitive analysis
d.
Marketing audit
e.
Comprehensive sales analysis
111. A planning manager visiting a company’s health and beauty aids division discovers the division has no
effective method for allocating resources, nor for evaluating actual results against planned results. He
suggestion to the division would likely be to prepare a:
a.
marketing audit
b.
contingency plan
c.
service audit
d.
market share analysis
e.
series of tactical evaluations