MKT 336 Quiz

Type

Quiz

Book Title

A Preface to Marketing Management 14th Edition

ISBN 13

978-0077861063

October 29, 2015

In an ideal selling situation, products that generate a maximum dollar profit with a

minimum amount of risk should be:

A. harvested or divested.

B. developed and marketed.

C. produced only for the local market.

D. shelved for future use.

Answer:

Which of the following is an organizational strategy based on competitive advantage?

A. Cost leadership strategy

B. Market differentiation strategy

C. Market diversification strategy

D. Product development strategy

Answer:

The crux of the marketing concept is focusing on building long-term _____, where the

initial sale is viewed as the beginning step and not as the end goal.

A. mass marketing strategies

B. product-oriented teams

C. research capabilities

D. customer relationships

Answer:

Which of the following is a disadvantage of advertising through the Internet?

A. Short message life

B. High cost per exposure

C. Low information content

D. Lack of timeliness

Answer:

A drawback of personal (in-depth) interviews as a data collection method in marketing

research is that:

A. they have a high cost per contact for every respondent studied.

B. they do not generate as many ideas as group methods do.

C. they have an element of confusion as there is high geographic dispersion.

D. they have a lesser depth of response than other interviews.

Answer:

According to Michael Porter's diamond model, which of the following factors refers to

a nation's ability to turn its natural resources, skilled labor, and infrastructure into a

competitive advantage?

A. Factor conditions

B. Related and supporting industries

C. Company strategy, structure and rivalry

D. Demand conditions

Answer:

Which of the following is a variation of cost-oriented pricing?

A. Odd-even pricing

B. Bundle pricing

C. Rate-of-return pricing

D. Prestige pricing

Answer:

Global marketing research can:

A. help determine whether there is an unsatisfied need for a new product.

B. cannot be used by companies entering in developing countries.

C. is typically used to determine the supply chain dynamics.

D. helps in understanding the difference between vertical and horizontal integration.

Answer:

Marketeers Inc. conducts research to determine the reaction of its employees to certain

organizational changes that have recently been implemented. The company wants

detailed and personalized responses from a small number of participants in the

company. It is willing to spend a large amount of money to get meaningful results. In

this scenario, which data collection method will most likely give Marketeers Inc. the

data it requires?

A. Personal interviews

B. Focus groups

C. Mail surveys

D. Observation

Answer:

Which of the following is an example of a specialty store?

A. Single-line stores

B. Supercenter outlets

C. Discount stores

D. Department stores

Answer:

Bill is a carpenter who loves his job. Even when he is not working, he spends his time

designing and building furniture and bookshelves for his house. Bill does not care much

for material possessions and considers his job to be an act of self-expression, rather than

a mere occupation. According to the VALSâ„¢ framework, Bill can be categorized as

a(n) _____.

A. Striver

B. Achiever

C. Maker

D. Survivor

Answer:

_____ is the culmination of a consumer's assessment of the product, the company that

manufactures and markets the product, and all other variables that affect the product

between manufacture and consumer consumption.

A. Brand positioning

B. Brand equity

C. Brand dilution

D. Brand extension

Answer:

Which of the following represents the final phase of the strategic planning process?

A. Creating an organizational mission

B. Formulating an organizational portfolio plan

C. Setting organizational objectives

D. Creating organizational strategies

Answer:

A company has the following organizational objective: "To maintain levels of employee

satisfaction consistent with our own and similar industries." Such an objective most

likely focuses on which of the following areas of performance?

A. Market standing

B. Worker performance and attitude

C. Manager performance and responsibility

D. Productivity

Organizational objectives are necessary in all areas that may influence the performance

and long-run survival of the organization. "To maintain levels of employee satisfaction

consistent with our own and similar industries," is an organization objective that

focuses on worker performance and attitude.

Answer:

A company changes the packaging of one of its existing products to make it more

attractive to consumers. The company has improved its product by modifying its

_____.

A. marketing dimensions

B. attributes

C. channels of distribution

D. promotion strategy

Answer:

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