The link between marketing ethics/social responsibility and firm performance has been
documented repeatedly over time. This link is most evident in firms that have a strong
__________.
a. market orientation
b. stakeholder orientation
c. sense of customer loyalty
The failure to understand the difference between internal and external issues is one of
the major reasons for a poorly conducted SWOT analysis. This happens because
managers:
a. see opportunities and threats as being the same thing.
b. confuse weaknesses with threats.
c. see strengths as the only meaningful issue in a SWOT analysis.
d. confuse strengths with opportunities.
e. list their marketing options or strategies as opportunities.
In the Mercedes dealer network, individual dealers are given the sole right to sell
Mercedes vehicles within a defined geographic area. What type of distribution does
Mercedes employ?
a. exclusive distribution
b. intensive distribution
c. selective distribution
Because they are cost effective and beneficial to ensuring consistency and
standardization within the marketing program, centralized marketing structures are best
suited for which of the following strategies?
a. customer intimacy
b. operational excellence
c. product leadership
What is the main purpose of the Sarbanes-Oxley Act of 2002?
a. To increase the accuracy and reliability of corporate disclosures of financial
information.
b. To ensure that CEOs are adequately compensated for the risks they face in terms of
corporate governance.
c. To amend NAFTA to be more favorable to U.S. interests.
d. To limit the ability of drug companies to engage in direct-to-consumer advertising.
e. To limit the ability of the media to obtain confidential corporate information.
What type of segmentation divides consumer markets into segments using individual
factors such as gender, age, income, and education?
a. psychographic segmentation
b. demographic segmentation
c. benefit segmentation
A __________ is an organized system of marketing institutions through which products,
resources, information, funds and/or product ownership flow from the point of
production to the final user.
a. marketing network
b. distribution hub
c. supply chain
In the context of IMC strategy, what is the difference between public relations and
publicity?
a. Public relations deals with positive information; publicity deals with controlling
negative information.
b. Publicity deals with many stakeholders; public relations deals only with customers.
c. Publicity is normally done via an in-house staff; public relations is typically
outsourced to a specialist.
d. Publicity is more narrowly defined and focused on gaining media attention.
e. There is no difference between public relations and publicity.
Which of the following IS NOT one of the five conditions of exchange in marketing?
a. There must be at least two parties to the exchange.
b. Each party has something of value to offer the other party.
c. Each party must be free to accept or reject the exchange.
d. Each party must be capable of immediate delivery.
e. Each party believes that it is desirable to exchange with the other party.
Each of the following is a potential product-related ethical issue EXCEPT:
a. Failure to disclose potential hazards or defects
b. Misleading warranties
c. Invasion of privacy
d. Counterfeit goods
e. Quality/Design issues
To compete in the fast-growing hybrid segment, Honda introduced the Civic Hybrid
with unique styling and great fuel economy. The Civic Hybrid was based on the
traditional Honda Civic. Which product development strategy has Honda implemented?
a. repositioning
b. new product line
c. product innovation
Which of the following statements is FALSE regarding the use of the 80/20 rule in
managing customer relationships?
a. Advances in technology and data collection techniques allow firms to profile
customers in real time.
b. Twenty percent of customers provide 80 percent of business profits.
c. Some customers are too expensive to keep given the low level of profits that they
generate.
d. The 80 percent of customers in the bottom tier should be fired so the firm can focus
on its top customers.
e. The firm’s top customers are the most obvious candidates for retention strategies.
Socially responsible firms tend to enjoy higher __________ because customers
perceive that the firm is dedicated to doing the right thing and treating customers fairly.
a. profit margins
b. sales volume
c. customer loyalty
May firms, like the Altria Group, focus on diversification in their marketing strategies
because they possess:
a. many internal strengths and many external opportunities.
b. many internal weaknesses and many external opportunities.
c. many internal strengths and few external opportunities.
d. many internal strengths and many external threats.
e. many internal weaknesses and many external threats.
One of the most successful and well-known tools of __________ segmentation is
VALSâ„¢ developed by Strategic Business Insights.
a. psychographic
b. geographic
c. demographic
d. geoclustering
e. emotional
In times past, developing and implementing the ‘right’ marketing strategy was all about
__________. In today’s economy, however, that emphasis has shifted to developing
strategies that attract and retain customers over the long term.
a. aggressive selling in order to maximize sales volume
b. creating a large number of transactions in order to maximize the firm’s market share
c. conducting extensive research to discover customer needs
d. making the highest quality product
e. making products of moderate quality that could be sold at the lowest possible price
Which of the following IS NOT a typical basis used to segment business markets?
a. type of organization
b. organizational characteristics
c. benefits sought
Edmunds.com provides a collection of online services and information pertaining to the
automotive market. Edmunds offers reviews, free pricing reports, discussion boards,
and links to a variety of car manufacturers, dealers, insurance companies, and finance
companies. What role does Edmunds.com play in today’s economy?
a. distributor
b. marketspace
c. metamediary
Which of the following cultural values is not typically associated with American
consumers?
a. low tolerance for waiting
b. growing disconnect with government
c. greater focus on long-term goals
Because the company was angered by the actions of its resellers, Acme Manufacturing
decided to slow down deliveries and postpone product availability to these resellers.
What type of power is Acme wielding in the channel?
a. legitimate power
b. coercive power
c. referent power
Which pricing objective is associated with the phrase ‘charging what the market will
bear’?
a. volume-oriented
b. profit-oriented
c. cash flow
__________ is defined as a business philosophy aimed at defining and increasing
customer value in ways that motivate customers to remain loyal.
a. Lifetime value management
b. Customer orientation
c. Market orientation
In many buying situations, customers will buy one product because it complements
another product. In these cases of __________ demand, the demand of one product
depends on the demand of another product.
a. linked
b. dependent
c. quasi-
Which of the following statements best describes the term ‘slotting allowances’?
a. The amount of shelf space that a retailer grants to a specific brand or product.
b. The amount of product from a specific manufacturer that a wholesaler agrees to
carry.
c. A fee, paid by manufacturers to retailers, to get a product placed on retail shelves.
d. A fee, paid by retailers to wholesalers, to get them to carry the retailer’s private label
brand.
e. The amount of product from a specific manufacturer that a retailer agrees to carry.
Expansion and growth, with new products and new markets, are the keys to Google’s
__________ approach to marketing strategy. Google uses this approach because it
possesses many different strengths that coincide with key market opportunities.
a. defensive
b. focused
c. aggressive
Explain how and why the process of developing a marketing plan might be more
important than the marketing plan document itself. What are the benefits of the
planning process irrespective of the actual outcomes of the process?
Discuss the role of the strategy canvas and the four-actions framework in establishing a
strategic focus for the firm’s marketing strategy. Why are these approaches invaluable in
today’s highly competitive environment?
Describe the role that a code of conduct plays in ensuring ethical compliance within a
firm. How should a code of conduct be developed, what should it contain, and what are
the keys to ensuring that the code is successfully implemented?
Discuss the strategies that can be used to enhance and maintain customer relationships.
Identify the key advantages and disadvantages of each strategy, as well as examples of
the marketing tactics that my be used.
Defend or contradict this statement: ‘The most important aspect of strategic market
planning is marketing implementation. Without good implementation, nothing gets
accomplished and customers do not receive desired benefits.’
Identify and discuss the three major structural options for distribution. In your answer,
identify the major advantages and disadvantages of each option.
Discuss the role of corporate affairs in the analysis of the external environment. What
types of activities are conducted by corporate affairs specialists?
Discuss the concept of balanced strategic planning and the approach outlined by the
Balanced Performance Scorecard. What are the five common principles associated with
implementing the balanced approach to strategic planning?