Tool for monitoring strategic marketing performance

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Reference no: EM131338565

Q1. Frequent flyer programs offered by airlines are an example of a ________.

a. consumer-generated marketing program

b. basic customer relationship

c. frequency marketing program

d. club marketing program

e. structural benefit provided for top customers

Q2. ________ are human needs as shaped by individual personality and culture.

a. Values

b. Deprivations

c. Demands

d. Exchanges

e. Wants

Q3. Family Dollar stores profitably focusing on buyers who have relatively modest means is an example of ________.

a. value pricing

b. convenience

c. market segmentation

d. value packing

e. target marketing

Q4. Henry Ford's philosophy was to perfect the Model-T so that its cost could be reduced further for increased consumer affordability. This reflects the ________.

a. societal marketing concept

b. product concept

c. selling concept

d. production concept

e. marketing concept

Q5. ________ refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs.

a. The product concept

b. Selling myopia

c. Marketing management

d. Marketing myopia

e. Value proposition

Q6. When backed by buying power, wants become ________.

a. self-esteem needs

b. physical needs

c. demands

d. social needs

e. exchanges

Q7. The three areas of consideration that should be balanced in the societal marketing concept are consumer wants, society's interests, and ________.

a. want satisfaction

b. company profits

c. short-run wants

d. long-term needs

e. human welfare

Q8. You are an assistant marketing director for a firm in a market with many low-margin customers. What type of relationship would it be most profitable for you to develop with these customers?

a. selective relationships

b. basic relationships

c. community relationships

d. full partnerships

e. club programs

Q9. When the economy tightens, customer loyalty and customer retention become ________ for marketers.

a. impossible

b. more important

c. short-term but not long-term goals

d. less important

e. long-term but not short-term goals

Q10. ________ is defined as a social and managerial process by which individuals and organizations obtain what they need and want through creating and exchanging value with others.

a. Marketing

b. Advertising

c. Negotiating

d. Bartering

e. Selling

Q11. Which of the following is a tool for monitoring strategic marketing performance?

a. a product differentiation

b. a marketing plan

c. a customer management organization

d. a value delivery network

e. a marketing dashboard

Q12. ________ entails reducing the business portfolio by eliminating products that no longer fit the company's overall strategy.

a. Downsizing

b. Market segmentation

c. Market redesign

d. BCG

e. Product line extension

Q13. Multinationals like Honda Motor Co. and Wal-Mart stores have designed programs to work closely with their suppliers to help them reduce their costs and improve quality. This illustrates the importance of an efficient ________.

a. product mix

b. problem-solver

c. low-cost operator

d. value-delivery network

e. business model

Q14. Favorite Memories specializes in serving market segments that major competitors overlook and ignore. Which of the following best describes Favorite Memories?

a. marketer challenger

b. market seeker

c. market nicher

d. market follower

e. full market coverer

Q15. To be successful at marketing, companies must effectively turn marketing planning into ________.

a. marketing audits

b. marketing analysis

c. marketing implementation

d. marketing control

e. marketing budgeting

Q16. The ________ organizational system's main advantage is that the company is organized around the needs of specific market segments.

a. geographic management

b. product management

c. functional management

d. vertical management

e. market management

Q17. Which of the following best describes a company's business portfolio?

a. the company's sources of revenue and the investments it makes in a particular year

b. the various industries in which the company operates business ventures

c. the company's products or services in a particular market category

d. the collection of businesses and products that make up the company

e. the company's strengths in terms of technology, people, products, advertising, etc.

Q18. In the BCG matrix, ________ are low-share businesses and products in a market that is not expected to grow. They may generate enough cash to maintain themselves but do not promise to be large sources of cash.

a. dogs

b. cash cows

c. black holes

d. stars

e. question marks

Q19. The process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors is called ________.

a. marketing strategy

b. market segmentation

c. market extension

d. market targeting

e. positioning

Q20. Peter Cramer is constantly involved in evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are attained. Peter's current work is most accurately classified as ________.

a. tactical planning

b. strategic planning

c. marketing planning

d. strategic control

e. marketing control

Q21. With an expected increase in ethnic diversity, marketers are likely to place a greater emphasis on ________.

a. geographic segmentation

b. mass marketing

c. "us and them" paradigms

d. differing advertising messages

e. tiered markets

Q22. Which of the following best explains why Gen Xers who are parents tend to put family before career?

a. Gen Xers are more skeptical about marketing than members of other generations are.

b. Gen Xers are not as educated as members of other generations are.

c. Gen Xers were the first generation of latchkey kids.

d. Gen Xers were minimally affected by the recent economic downturn.

e. Gen Xers do not face as many economic pressures as members of other generations do.

Q23. A society's core beliefs and values have a high degree of ________.

a. similarity

b. persistence

c. conformity

d. simplicity

e. ethnocentrism

Q24. A radio station that carries news, features, and editorial opinions about your area is best classified as which type of public?

a. regional

b. media

c. financial

d. local

e. citizen-action

Q25. An increasing number of American workers work out of their homes with technological conveniences such as PCs, high-speed Internet access, and fax machines. These workers are referred to as the ________ market.

a. Gen X

b. micropolitan

c. Millennial



Q26. Marketers can take a(n) ________ by taking aggressive action to affect the publics and forces in their marketing environments.

a. environmental perspective

b. natural management perspective

c. natural perspective

d. proactive stance

e. relationship building perspective

Q27. Increased marketing of home amenities such as high-end barbeques, hot tubs, and home entertainment centers has most likely been spurred by Americans' changing views of ________.

a. social responsibility

b. nature

c. organizations

d. marketing

e. others

Q28. A company or association's ________ is designed to help guide responses to complex social responsibility issues.

a. cause-related marketing

b. privacy policy

c. discretion in enforcing regulations

d. core value system

e. code of ethics

Q29. The natural resources that are needed as inputs by marketers or that are affected by marketing activities are referred to as the ________.

a. factors of production

b. raw material market

c. natural environment

d. endangered environment

e. green movement

Q30. LandPort Transportation and Omega Warehousing move and store the products your company sells. The two businesses are examples of ________.

a. resellers

b. marketing intermediaries

c. physical distribution firms

d. marketing services agencies

e. geographic segments

Q31. Ethnographic research ________.

a. is most popular in the service sector

b. is gathered where people live and work

c. comes from traditional focus groups

d. provides secondary data

e. provides data to marketers when observation is impossible

Q32. Which of the following is the best advice about creating research questionnaires?

a. Avoid personal questions that may make some respondents uncomfortable.

b. Use simple and direct language.

c. Questions should not be arranged in a particular order.

d. Ask personal questions in the middle of the instrument.

e. Ask difficult questions in the beginning to 'weed out' uninterested respondents.

Q33. Anna Gregory just completed reading a marketing research report about the top 25 countries that purchase American products. What would the report most likely say about international research within these countries?

a. It is on the decrease due to high costs.

b. Despite the costs of international research, the costs of not doing it are higher.

c. The costs are higher than the benefits.

d. Interpretations of American quality are consistent among different countries.

e. There is a lack of qualified research personnel.

Q34. Tasoula Jeannopoulos has a limited budget for the market research she needs to conduct; however, the sample size for her research is quite large. Which of the following methods of contact would provide Tasoula with the most cost-effective way to reach a large sample of potential customers?

a. focus group interviews

b. personal interviews

c. telephone surveys

d. Internet surveys

e. mail surveys

Q35. Through which of these sources of information is a competitor least likely to reveal intelligence information?

a. Web pages

b. annual reports

c. internal marketing meetings

d. trade show exhibits

e. press releases

Q36. Four common sources of internal data supplied to internal databases include the accounting department, operations, the sales force, and the ________.

a. owners

b. Web

c. competition

d. stockholders

e. marketing department

Q37. Marketing researchers usually draw conclusions about large groups of consumers by studying a small ________ of the total consumer population.

a. sample

b. target group

c. population

d. group

e. audience

Q38. You are about to test the hypothesis that sales of your product will increase at a very similar rate at either a $5 drop in unit price or a $7 drop in unit price. You are involved in what type of research?

a. ethnographic

b. descriptive

c. focus group

d. causal

e. exploratory

Q39. Cultural differences, especially those involving language, can add to research costs in foreign markets and can increase the ________.

a. reliance on primary data

b. response rate

c. need for a larger sample

d. risks of error

e. foreign trade

Q40. Behavioral targeting, the practice of ________, is being used by more and more companies.

a. mining and analyzing data from data warehouses

b. managing customer relationships

c. observing and interacting with consumers in their natural environments

d. tracking consumers' online movements and using this information to target ads to them

e. tracking customers' activities and rewarding customer loyalty

Reference no: EM131338565

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