Marketing - Notes 1-13

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hillary410
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262179
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Marketing - Notes 1-13
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2014-02-17 00:26:37
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marketing
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MArketing
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  1. Analyzing substitute products with similar attributes that customers consider during the
    buying decision is a method of defining a market using a ________.

    A)generic competition method
    B)demand-side perspective
    C)supply-side perspective
    D)product attribution method
    B)demand-side perspective
    (this multiple choice question has been scrambled)
  2. What is the lowest level of competition?

    A)generic competition
    B)budget competition
    C)product category
    D)product variant
    D)product variant
    (this multiple choice question has been scrambled)
  3. A
    PEST analysis is most useful when a marketer needs to ________.

    A)implement a new marketing mix
    B)categorize a business environment
    C)develop appropriate marketing objectives
    D)analyze a firm's marketing portfolio
    B)categorize a business environment
    (this multiple choice question has been scrambled)
  4. Extensive customization of a product offered in different international markets would
    most likely defeat which of the following benefits of global trade?

    A)lower labor costs
    B)lower production costs
    C)higher quality materials
    D)higher consumer consumption
    B)lower production costs
    (this multiple choice question has been scrambled)
  5. The
    ________ environment consists of factors that affect consumer purchase ability
    and buying behavior.

    A)economic
    B)social
    C)political
    D)technological
    A) Economic
    (this multiple choice question has been scrambled)
  6. Which type of company would most likely experience countercyclical sales?

    A)boat manufacturer
    B)pharmaceutical manufacturer
    C)auto parts retailer
    D)furniture retailer
    C)auto parts retailer
    (this multiple choice question has been scrambled)
  7. Curve fitting methods are most likely popular with managers and forecasters because
    such methods ________.

    A)focus on demographic elements
    B)require few data points
    C)predict dependent variables
    D)rely on customer quality reports
    B)require few data points
    (this multiple choice question has been scrambled)
  8. ________
    identifies the relationships between variables that predict or cause some
    target variable.

    A)Curve fitting
    B)Regression analysis
    C)Judgment-based forecasting
    D)Trend extrapolation
    B)Regression analysis
    (this multiple choice question has been scrambled)
  9. Futuring
    relies on the idea that the future is ________.

    A)uncertain
    B)predictable
    C)quantitative
    D)similar to the past
    Uncertain
  10. Whatis the first step to finding new markets?

    A)mining market data
    B)evaluating cultural fads
    C)creating a marketing mix
    D)identifying customer insights
    identifying customer insights
  11. Which
    term refers to the series of activities involved in extracting value from a
    product or service?

    A)situation assessment
    B)trend extrapolation
    C)customer value chain
    D)cross-impact matrix
    Customer value chain
  12. What
    two parties interact in the total immersion method?

    A)employees and customers
    B)customers and executives
    C)customers and researchers
    D)researchers and executives
    B)customers and executives
    (this multiple choice question has been scrambled)
  13. Moen
    used the ________ research method when the firm interviewed participants about
    their shower experiences and observed participants taking showers.

    A)projective
    B)laddering
    C)ethnographic
    D)total immersion
    ethnographic
  14. In the hierarchy of effects model, ________ is the first stage of the process..
    A) need recognition
    B) evaluation
    C) interest
    D) unaware
    unaware
  15. Knowing where customers are in the decision-making process most likely helps marketers to ________.
    A) develop effective distribution strategies
    B) improve quality control methods
    C) reduce post-purchase dissonance
    D) provide alternative solutions
    A
  16. An attitude is best defined as a(n) ________.
    A) set of psychological characteristics that consistently influence a person's responses
    B) lasting evaluation of a person, object, or issue
    C) change in behavior caused by information or experience
    D) internal state that drives us to satisfy needs
    B) lasting evaluation of a person, object, or issue
    (this multiple choice question has been scrambled)
  17. The FCB Matrix organizes products by ________ and ________.
    A) involvement level; purchase motivation
    B) relative performance; post-purchase attitude
    C) business sales; consumer sales
    D) brand alternatives; customer values
    A) involvement level; purchase motivation
    (this multiple choice question has been scrambled)
  18. eams
    of people in an organization who participate in purchase decisions are known as
    ________.

    A)buy centers
    B)gatekeepers
    C)buying agents
    D)B2B consumers
    A)buy centers
    (this multiple choice question has been scrambled)
  19. When conducting a competitor analysis, a marketer should first investigate the
    competitor's ________.

    A)product offerings
    B)customer loyalty ratings
    C)marketing mix
    D)long-term objectives
    D)long-term objectives
    (this multiple choice question has been scrambled)
  20. When analyzing the strengths and weaknesses of a competitor, a marketer should first
    ________.

    A) identify similarities with the competitor's
    product
    B)determine the success factors in a market
    C)predict the competitor's next actions
    D)review fluctuations in the market
    B)determine the success factors in a market
  21. By analyzing a competitor's ________, a marketer would most likely be able to
    assess the risk and cash flow of the competitor.

    A)SBU portfolio
    B)growth strategy
    C)marketing approach
    D)customer value chain
    A
  22. Which
    of the following questions would be LEAST relevant to a marketer creating a
    strategy profile of a competitor?

    A)Does the competitor utilize highly efficient buy centers?
    B)Does the competitor use a differentiated marketing approach?
    C)Does the competitor use a growth strategy of market penetration?
    D)Does the competitor have sufficient cash flow for a growth strategy?
    A
  23. Which
    area of a competitor analysis involves making assessments rather than
    predictions about the competition?

    A)strengths and weaknesses
    B)strategies
    C)marketing tactics
    D)long-term objectives
    C)marketing tactics
    (this multiple choice question has been scrambled)
  24. The
    three levels of strategies are ________.

    A)operational, managerial, and business unit
    B)business unit, corporate-level, and functional
    C)managerial, operational, and promotional
    D)functional, corporate-level, and tactical
    B)business unit, corporate-level, and functional
    (this multiple choice question has been scrambled)
  25. The ________ of Nike is "to experience
    the emotion of competition, winning, and crushing competitors."

    A)visionary goal
    B)core purpose
    C)corporate strategy
    D)core values
    B) Core purpose
    (this multiple choice question has been scrambled)
  26. A
    firm's core purpose statement is typically directed at ________, while a firm's
    core values are typically directed at ________.

    A)internal stakeholders; all stakeholders
    B)internal stakeholders; external stakeholders
    C)all stakeholders; internal stakeholders
    D)external stakeholders; all stakeholders
    C)all stakeholders; internal stakeholders
    (this multiple choice question has been scrambled)
  27. Including
    visionary goals and vivid descriptions in vision and mission statements most
    likely serves the purpose of ________.

    A)aligning resources
    B)guiding employee behavior
    C)developing competencies
    D)stimulating organizational progress
    D)stimulating organizational progress
    (this multiple choice question has been scrambled)
  28. Which
    of the following questions would be most useful for the evaluation of a
    corporate-level strategy?

    A)Is the marketing mix aligned with the key success factors in the market?
    B)Do executives and employees accept and defend the firm's core values?
    C)Is the portfolio of business units balanced in terms of cash flow and risk?
    D)Does the firm clearly communicate its core ideology to consumers?
    C)Is the portfolio of business units balanced in terms of cash flow and risk?
    (this multiple choice question has been scrambled)
  29. The
    primary purpose for conducting a value chain analysis is to ________.

    A)analyze consumer trends
    B)assess competitor strengths
    C)identify target markets
    D)generate a profit margin
    D)generate a profit margin
    (this multiple choice question has been scrambled)
  30. Which of the following is NOT a primary activity of typical value chains?

    A)operations
    B)human resources
    C)service
    D)outbound logistics
    B)human resources
    (this multiple choice question has been scrambled)
  31. Which
    of the following is used to depict the importance of individual value chain
    activities on a two-dimensional matrix?

    A)integrated analysis
    B)dissonance analysis
    C)situation assessment
    D)strategic priority analysis
    D)strategic priority analysis
    (this multiple choice question has been scrambled)
  32. Which of the following would most likely characterize a highly competitive industry?

    A)high switching costs
    B)high marginal costs
    C)high industry growth
    D)high fixed costs
    D)high fixed costs
    (this multiple choice question has been scrambled)
  33. ________ is a market entry barrier that exists when a service becomes more valuable as more people use it.

    A)Economies of scale
    B)Network effects
    C)Capital requirements
    D)Forward integration
    B)Network effects
    (this multiple choice question has been scrambled)
  34. In an industry characterized by ________, customers have significant bargaining
    power.

    A)undifferentiated products
    B)complex backward integration
    C)high switching costs
    D)low concentrations of buyers
    A)undifferentiated products
    (this multiple choice question has been scrambled)
  35. In
    the automobile parts industry, products are undifferentiated, so the industry
    is most likely characterized by ________.

    A)limited distribution channels
    B)patented technologies
    C)low switching costs
    D)high capital requirements
    C)low switching costs
    (this multiple choice question has been scrambled)
  36. Which
    of the following would most likely increase competition during the maturity
    stage of the product life cycle?

    A)commercialization
    B)differentiation
    C)excess capacity
    D)inadequate promotion
    C)excess capacity
    (this multiple choice question has been scrambled)
  37. During
    the development and introduction stages of the product life cycle, consumers
    are primarily interested in the ________ of a product.

    A)performance
    B)appearance
    C)price
    D)convenience
    A)performance
    (this multiple choice question has been scrambled)
  38. Which
    of the following is LEAST likely to occur during commoditization?

    A)Product differentiation becomes difficult.
    B)Customer loyalty and brand preferences increase.
    C)Competition is mainly based on price.
    D)Competitive advantages come from cost leadership.
    B)Customer loyalty and brand preferences increase.
    (this multiple choice question has been scrambled)
  39. In which stage of the product life cycle would
    a firm most likely use price promotions and reminder advertising to encourage
    customers to replace worn-out items?

    A)growth
    B)decline
    C)maturity
    D)introduction
    C)maturity
  40. According
    to the law of experience, unit costs decline by ________ each time cumulative
    output ________.

    A)a varying percent; triples
    B)one-third; increases at an equal rate
    C)a fixed percent; doubles
    D)one-half; doubles
    C)a fixed percent; doubles
    (this multiple choice question has been scrambled)
  41. An
    experience curve is primarily dependent on the ________.

    A)industry
    B)product life cycle
    C)economy
    D)marketing mix
    A)industry
    (this multiple choice question has been scrambled)
  42. Diseconomies of scale would most likely occur
    for all of the following reasons EXCEPT ________.

    A)production volume exceeds capacity
    B)employees lack motivation
    C)size of firm too large to manage
    D)technology too specialized
    D)technology too specialized
    (this multiple choice question has been scrambled)
  43. Ford
    and Toyota are most likely able to achieve economies of scale by ________.

    A)serving global market segments
    B)segregating specialized workers
    C)increasing distribution distances
    D)exceeding production capacities
    A)serving global market segments
    (this multiple choice question has been scrambled)
  44. Which
    of the following would most likely provide information about the relationships
    between a firm's activities, strategies, and results?

    A)BCG matrix
    B)MEP chart
    C)PIMS data
    D)SWOT analysis
    C)PIMS data
    (this multiple choice question has been scrambled)
  45. According
    to PIMS data, a strong correlation exists between ________ and ________.

    A)productivity; marketing mix
    B)profitability; marketing strategies
    C)productivity; market share
    D)profitability; market share
    D)profitability; market share
    (this multiple choice question has been scrambled)
  46. Research
    indicates that an increase of ________ percentage point(s) in market share
    correlates to an increase of ________ percentage point(s) in profitability.

    A)3; 1
    B)2; 4
    C)4; 2
    D)1; 3
    A)3; 1
    (this multiple choice question has been scrambled)
  47. Including
    market share as an objective in a business strategy is appropriate in all of
    the following cases EXCEPT when ________.

    A)ancillary sales are anticipated
    B)industries plan to set standards
    C)customer loyalty is hard to measure
    D)new entrants need to be barred
    C)customer loyalty is hard to measure
    (this multiple choice question has been scrambled)

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