Reference no: EM131044201

1. Which of the following components of the marketing mix concerns decisions about packaging and branding?

• Promotion
• Price
• Product
• Place
• Profit

2. Which of the following concerns how the whole marketing system works?

• Micro-marketing
• Functional-level strategy
• Business-level strategy
• Strategic planning
• Macro-marketing

3. One of the advantages of a market-directed economic system is that it:

• results in monopolistic markets.
• operates automatically.
• can be controlled by marketers.
• leads to social inequality.
• operates according to government regulations.

4. In a marketing plan, the nature of demand and marginal analysis are a part of the _____ component of the marketing mix.

• product
• production
• place
• price
• promotion

5. By developing and implementing more effective marketing strategies, a marketing manager can:

• All of these alternatives are correct.
• provide more consumer satisfaction.
• reduce the costs of wasted effort by a firm.
• improve the profits of a firm.
• contribute to the effectiveness of the macro-marketing system.

6. Which of the following should NOT be included in a marketing plan?

• All of these should be included in a marketing plan.
• Product class.
• Marketing plan objectives.
• A company analysis section.
• Reasons for the marketing strategy decisions.

7. Which of the following statements about marketing accurately reflects the text's point of view?

• Micro-marketing never costs too much.
• Macro-marketing does not cost too much.
• Marketing is not needed in all modern economies.
• Macro-marketing does cost too much.
• Micro-marketing always costs too much

8. In which of the following types of economies will the forces of competition help speed the diffusion of marketing advances to consumers everywhere?

• Cost-directed economy
• Production-oriented economy
• Command economy
• Market-directed economy
• Internally-oriented economy

9. Which of the following is NOT an indicator that macro-marketing does not cost too much?

• Products improve the quality of life.
• Advertising wastes resources.
• Micro-marketing efforts help to grow the economy.
• Marketing reflects our values.
• Companies fail to adapt to changing customer needs.

10. Denton Corp. spent millions of dollars manufacturing, advertising, and campaigning for their new brand of cranberry-flavored soft drink. However, consumers did not like the drink and sales quickly plummeted. Finally, the product was declared a failure and discontinued. This illustrates that:

• micro-marketing often does cost too much.
• a macro-marketing system leads to monopolistic markets.
• a micro-marketing system encourages fair trade.
• advertising can lower the price of a product.
• macro-marketing often does cost too much.

 

11. The future poses many challenges for marketing managers because:

• it marketing managers who have full responsibility to preserve our macro-marketing system.
• ultimately it is marketing managers who must determine which products are in the best interests of consumers.
• the marketing concept has become obsolete.
• social responsibility applies only to firms-not to consumers.
• new technologies are making it easier to abuse consumers' rights to privacy.

12. Consumer satisfaction:

• is totally unrelated to company profits.
• is hard to define.
• is the basic objective of all economic systems.
• depends on one's own expectations and aspirations.
• is easier to measure at the macro-level than at the micro-level.

13. The text concludes that:

• marketing makes people buy things they don't need.
• advertising is a poor use of resources.
• marketing's job is just to satisfy the consumer wants which exist at any point in time.
• marketing makes people materialistic.
• advertising can actually result in lower prices to the consumer.

14. Micro-marketing may cost too much because:

• prices are frequently set on a cost-plus basis.
• firms fail to identify new target markets.
• All of these are reasons why micro-marketing may cost too much.
• promotion is sometimes seen as a substitute for product quality.
• firms frequently develop "me-too" products.

15. An objective of our macro-marketing system should be to:

• continually seek more satisfying solutions to consumer problems.
• eliminate materialism.
• eliminate monopolistic competition.
• eliminate advertising, which will lower prices.
• satisfy only the minimum material requirements of life.

16. Which of the following concern(s) the marketing activities of an individual firm?

• Macro-marketing
• Collectivist cultures
• Command economic systems
• Micro-marketing
• Production-oriented marketing

17. A software company develops a software product that customers like, but high prices and inadequate distribution cause the product to fail. This is an example of which of the following causes of marketing inefficiency.

• Emphasis on innovative thinking.
• Improper blending of the four Ps.
• Preference for a market-orientation rather than a production-orientation.
• Lack of interest in or understanding of the fickle customer.
• Inability of firms to identify new target markets and new opportunities.

18. Among the challenges facing marketing, which of the following reflects advice offered by the textbook?

• International competition can generally be ignored.
• The government and not companies should be concerned about the environment.
• Recognize that most markets change very slowly.
• Short-run consumer welfare should be the focus.
• Marketing managers frequently evaluate and adapt marketing strategies.

19. Developing a "marketing plan:"

• involves nothing more than assembling the four Ps better than your competitors.
• includes no time-related details because the plan is frequently changing.
• Provides a blueprint for implementation.
• means selecting a target market and developing a marketing mix.
• is easy-and profits are virtually guaranteed-provided that a firm fully understands the needs and attitudes of its target market.

 

20. Which of the following sections of the marketing plan includes a description of how the four Ps fit together?

• Customer analysis
• Marketing plan objectives
• Analysis of the market context
• Overview of the marketing strategy
• Competitor analysis