Reference no: EM13303071

1. In which of the following types of firms is the product manager MOST likely to rely on the Internet for direct customer feedback and new product ideas?

A. traditional consumer goods companies

B. consumer service firms

C. consumer durable goods companies

D. high-tech firms

E. packaged goods companies

2. All of the following statements about the impact of capacity upon category attractiveness are true EXCEPT:

A. Chronic overcapacity is critical to high profits.

B. Operating at capacity drives costs down.

C. Operating at capacity enhances the firm's buying power.

D. Operating at capacity is an indicator of category health.

E. All of the above are true.

3. The difficulty in planning is that it:

A. is based on historical information.

B. must anticipate future environments.

C. must anticipate future competitive actions.

D. must anticipate future consumer desires/actions.

E. all of the above

4.The threat of new entrants:

A. diminishes the attractiveness of a category.

B. heightens concerns of increased competition and lower profits.

C. can be reduced by erecting barriers to competition.

D. all of the above

E. none of the above

5. All of the following are aggregate category factors EXCEPT:

A. category size.

B. category growth.

C. stage in product life cycle.

D. seasonality.

E. threat of new entrants.

6.Competitor analysis has received more attention in recent years as a result of:

A. increased competition for customers in slow growth markets.

B. shorter product life cycles.

C. technological advances.

D. the increasing importance of foreign competition.

E. all of the above

7. The marketing plan heavily relies on information derived from:

A. the sales force.

B. management information systems.

C. internal marketing research.

D. all of the above

E. none of the above

8. The MAJOR advantage of the market-focused organization derives from:

A. giving product managers full responsibility for, and control over, their products.

B. its support of the underlying product management system.

C. its focus on the customer.

D. its elevation of the product manager to "mini-CEO" status.

E. all of the above

9. Generally, secondary research:

A. is less expensive than primary research.

B. can be done more quickly.

C. can cover most research problems.

D. is easier to conduct than primary research.

E. all of the above

10. Basic to the success of ANY manager are:

A. communication skills.

B. technical expertise.

C. academic training.

D. quantitative.

E. team-building skills.

11. Market attractiveness is enhanced by a high rating of all of the following market variables EXCEPT:

A. market size.

B. profit variability.

C. market growth.

D. profit level.

E. all of the above

12. Category attractiveness is typically highest during the _________________ stage of the PLC.

A. growth

B. introduction

C. maturity

D. decline

E. attractive categories remain so throughout the PLC

13. Which of the following types of primary information is MOST underused?

A. suppliers

B. the firm's sales force

C. customers

D. competitor analysis

E. suppliers

14. The value chain approach asserts that a firm may differentiate through:

A. inbound logistics.

B. operations advantages.

C. outbound logistics.

D. all of the above

E. none of the above

15. A firm that has been losing market shares is likely to emphasize a _________________ objective.

A. consolidation

B. growth

C. profit maximizing

D. cost minimizing

E. line expansion

16. Competition may be:

A. customer-based.

B. marketing oriented.

C. resource-oriented.

D. geographic.

E. any/all of the above

17. The _________________ of a characteristic is determined by the level of that characteristic.

A. value

B. weight

C. heft

D. size

E. importance

18. Misidentification of the competitive set:

A. can spell failure for a long-run marketing plan.

B. creates uncertainty in market definition.

C. creates ambiguity in market-related statistics.

D. may make manipulation of market boundaries possible.

E. all of the above

19.Suppliers enjoy greater buying power when:

A. suppliers are highly concentrated.

B. there are no substitutes for the product.

C. the supplier has differentiated its product.

D. supply is limited.

E. all of the above

20. Ethical concerns attend the use of:

A. pirating employees.

B. aerial reconnaissance.

C. buying/stealing a competitor's trash.

D. briding printers.

E. all of the above
21. All of the following are ADVANTAGES of the product management system EXCEPT:

A. clear locus of responsibility.

B. good training for future senior executives.

C. effective center for product advocacy.

D. encourages a broad understanding of customer needs.

E. clear source for product knowledge/information.

22. Which of the following secondary sources is MOST likely to indicate how a competitor plans to position their product?

A. promotional literature

B. 10K statements

C. annual reports

D. patent/trademark filings

E. annual reports

23. Proctor and Gamble's MDO approach seeks to use brand managers to create:

A. data bases.

B. customer businesses.

C. test markets.

D. new products.

E. distribution channels.

24. All of the following statements about strategic planning are true EXCEPT:

A. Strategic planning is done at the highest levels of the firm.

B. Strategic planning focuses on broad objectives.

C. Strategic planning takes place at the business center level.

D. Strategies are, by nature, general.

E. Strategies typically focus on return on investment/assets.

25. Which of the following is the latest addition to Porter's industry assessment factors?

A. production/service capacity

B. threat of new entrants

C. amount of intra-category rivals

D. bargaining power of suppliers

E. threat of substitute products/services

26. The use of predefined categories provided by commercial data services and/or the US government could lead to completely overlooking:

A. product form competitors.

B. product category competitors.

C. generic and budget competitors.

D. all of the above

E. none of the above

27. The impact upon the sales of one brand resulting from a change in a marketing variable (often, price) of another brand is described by:

A. cross-elasticity.

B. cross-substitutability.

C. cross-complementation.

D. cross-purchases.

E. cross-marketing.

28. The marketing plan should be viewed by, explained to, and receive comments/inputs from:

A. only the Board of Directors.

B. the product manager and his/her staff.

C. all departments affected by it.

D. consumers and competitors.

E. only the firm's vice-presidents.

29. Which of the following types of product management structures is MOST closely associated with effective cost control?

A. the market/market structure

B. the firm/competitor structure

C. the management/marketing structure

D. the product/product structure

E. the market/distribution structure

30. As compared to product managers, marketing managers are much more likely to be concerned with:

A. managing product portfolios.

B. developing tactics.

C. detailed adjustments to the short-term marketing mix.

D. short-term market share, volume, and profits.

E. a wider variety of short-term, internal tactics.

31. At the product level, a marketing strategy is composed of:

A. target market selection.

B. core strategy.

C. implementation.

D. all of the above

E. none of the above

32. Products and services are "tailored" to small groups through the process of:

A. market segmentation.

B. computerization.

C. mass customization.

D. specialization.

E. web "surfing".

33. Product managers typically write marketing plans with inputs from:

A. finance.

B. operations.

C. marketing communications.

D. all of the above

E. none of the above

34. The attractiveness of a product category is impacted by:

A. aggregate factors.

B. category factors related to the major participants.

C. environmental factors.

D. all of the above

E. none of the above

35. Under _______________ competition, all products and services competing for the same customer dollar is viewed as forming a market.

A. product category

B. product form

C. market share

D. generic

E. budget

36. In identifying sources of present and/or future competition, managers may rely upon:

A. experience.

B. salesmen call reports.

C. distribution.

D. any, or all, of the above

E. none of the above

37. The product manger's job involves all of the following activities EXCEPT:

A. market analysis.

B. developing product objectives and strategies.

C. coordination with other firm areas.

D. development of firm-wide marketing strategy.

E. "internal" marketing.

38. Competitor analysis has received more attention in recent years as a result of:

A. increased competition for customers in slow growth markets.

B. shorter product life cycles.

C. technological advances.

D. the increasing importance of foreign competition.

E. all of the above

39. The internet:

A. has increased the rate of technological change.

B. has made more information easily available.

C. may create "information overload".

D. has encouraged "continual planning".

E. all of the above

40. All of the following are part of the Situation Analysis section of the marketing mix EXCEPT:

A. category analysis.

B. competitor analysis.

C. customer analysis.

D. planning assumptions.

E. executive summary