mkt 327 final questions

Which of the following actitivies is associated with the strategic framework stage of the marketing planning process?
Positioning
Which of the statements below defines a S,W.O.T. Analysis?
An analysis process that acquires information on organization’s environment and capabilities
Which of the following is NOT a step of the marketing strategy process?
Licensing
Which of the following is defined as the process of developing and maintaining a crucial fit between the organization’s goals and capabilities and its changing marketing opportunities.
Strategic planning
Which of the following is an analysis process that is part of a marketing plan’s information foundation as opposed to a strategic framing decision?
Buyer behavior
Sectors of society are to macro marketing as which of the following is to micro marketing.
Organizations and customers
Which of the following statement defines a tactical implementation plan?
A short-term plan for actions and reactions to specific market conditions for how each part of the controllable marketing variables will be used to achieve the strategic marketing plan goals.
Which of the analysis procedures below (that are part of the marketing information foundation) provide insights for the environment?
Situation analysis
Which of the following refers to a group of individuals, groups, or organizations that are integrated within a dynamic network of environmental cause and effect activities that share purpose and proximity?
Community
Which of the following is a step in executing a situation analysis?
Environmental scanning
What is the last step in an Environmental Scan?
Project trends
Which of the following statements defines marketing (or managerial marketing)?
The activity for creating and delivering offerings that benefit the organization, its stakeholders, and society.
Which of the statements below defines a strategic marketing plan or process?
An approach whereby an organization allocates its marketing mix resources to reach its target markets.
Match the following elements of the information foundation with the basic strategic questions that they address.
Situation Analysis & S.W.O.T. Analysis = Is organization on course

Target Market Analysis = Is organization on code

Competitor Analysis & S.W.O.T. Analysis = Can organization compete

Which of the following is an element of a Business Portfolio model?
Cash Cow
In most cases the Target Market Analysis process should end (its last step) with which of the following?
Segmentation analysis
Which of the following statements defines relationship marketing?
Linking the organization to the individual customers, employees, suppliers, and other partners for their mutual long-term benefits.
Selling products and generating a profit is the essence of marketing.
False
The creation of value through satisfaction and loyalty helps marketing form connections at which level?
Micro
Which of the following terms refers to the process by which a person selects the information they obtain, or retain?
Perception
How does marketing perform its most essential role at the macro level?
Through the universal marketing functions
Which of the following statements defines a market? (select all that are correct)
A collection of individuals or organizations with a common need, and the desire and ability (in terms of accessibility or affordability) to satisfy that need.

A location (physical or virtual) where buyers encounter sellers for the purpose of viewing and/or selling their goods or services.

Which of the following is correct with regards to needs and wants?
Wants satisfy needs
All of the managerial marketing tasks below are part of the market creation activities except for which one?
Delivering value
One part of the statement defining the essence of marketing refers to the formation of community, connections, and relationships. Which of the following terms involves the marketing activities directed at achieving these objectives?
Market creation
All of the following are true regarding how product classifications help marketers except for which of the following?
They help improve marketing efficiency.
Which of the following is what happens when a company attempts to capture each of its targeting segments with a unique marketing strategy?
Differentiation
A product line contains all of a company’s product mixes.
False
Which of the following best describes what product classification is?
Defines the role product oriented decisions play in the overall marketing strategy.

hm

Defines how consumers purchase products and how they use those products.

The number of locations, where a product or service is available in a given market is addressed by which of the following channel decisions?
Channel intensity
The coordination of advertising, sales promotion, personal selling, public relations, and sponsorship is part of which concept?
Integrated marketing communications
Which of the following is true with regard to channels?
All are true
The Purpose of a Segmentation Analysis is to do which of the following?
None of the above
Reminder Advertising would be defined as which of the following?
Messages that keep product at the forefront of the consumer’s mind
Which of the following statements best defines the concept of demand management?
Selecting which aspect of demand (the number of buyers, there desire to buy, their physical ability to buy, or their financial ability to buy) the firm should focus on.
Operational excellence is one of the alternative courses of action for demand management.
False
At what stage of the product life cycle do sales generally grow at a slow rate?
Introduction
Which of the following characteristics best defines the difference between marketing intelligence and marketing research?
Marketing intelligence continually collects information
Which of the following decisions considers trade shows, display booths, and contests?
Sales Promotion
Measurable, substantial, and accessible are informational items for the first step in a segmentation analysis?
False
Which of the following is not considered a classification of consumer products?
Operating
Which alternative below is a true statement regarding positioning, segmentation, and integrated marketing communications?
These are strategic framing decisions
When wholesalers or retailers place their name on a product, this is called which of the following?
A Private branding
A group of firms in an industry following the same or similar strategy is referred to as a strategic group.
True
Which of the following provides insights that help define a ‘skeleton’ marketing plan?
Product life cycle
The purpose of Advertising is:
All are correct:
Inform consumers with messages that provide information for later use.

Persuade by changing consumers attitudes and opinions.

Remind consumers about products.

Reinforce to encourage repeat purchasing.

Because it is difficult to successfully appeal to all market segments, companies often select certain segments for emphasis, this process is called which of the following terms?
Target marketing
Which of the following is one of the alternative positioning strategies?
Demand focus
According to class lecture, which of the following is a condition of an attractive market segment?
Segments are substantial
Which section of the product life cycle is your product most likely in assuming that you are a brand manager for a Proctor and Gamble product, your product’s sales are beginning to grow, and the product still has not earned a profit?
Introduction
Which of the following steps in a strategic marketing plan is part of the Tactical section?
Positioning
The role or purpose of Marketing in a firm is defined by which of the following?
Marketing concept
Profiling and naming a group of consumers with similar demographic and psychographic characteristics is the _________ step in an _______________ analysis.
2nd; Segmentation
Which of the following best defines the term ‘customer perceive value’, or just customer value?
Buyer’s benefits at a specified price
Which of the following terms refers to the ability of the company to provide products that satisfy customer needs and wants?
Being on code
The marketing mix consists of four elements, commonly referred to as the “Four P’s” They are:
product
price
promotion
place
Which of the following is NOT an element of a marketing plan?
Manufacturing
The process of planning and executing the conception, pricing, promotion, and distribution of ideas, goods, and services to create exchanges defines which of the following?
Marketing management
A management information system is the process of defining a marketing problem and/or opportunity, then systematically collecting and analyzing information, and recommending actions.
False
Satisfaction is exclusively a function of the product’s performance and quality.
False
A shopping product is in the introduction stage of the life cycle and consumers are at the awareness stage. Which communication objective is usually most appropriate for this situation?
Inform/Educate

Provide Information

A company is considering which of several groups of with common needs to focus its marketing efforts on. Which of the strategic framing decisions is it executing?
Segmentation
A company is aggresively marketing a shopping product (could be homogeneous or heterogeneous). Which of the following should be the focus of its ‘skeleton plan’ in terms of promotional efforts?
Differentiation
Which of the following pricing decisions specifies the overall impact the price of the product or service will have on the firm’s strategic positioning?
Objectives
Which of the following statements best defines a general marketing strategy?
A guiding framework for developing a skeleton marketing plan that identifies which aspect of demand the firm should focus on.
Gaining awareness for the product and establishing distribution should be the focus of a firm’s marketing strategy in which stage of the life cycle?
Introduction
Which of the following would be an appropriate general marketing strategy for an organization with a product that has primary demand?
Increase buyers’ purchasing rate
Which of the following is the best example of a homogeneous shopping good?
Under garments
The assets linked to a brand name and the symbol that adds value to the product refers to which of the following?
Brand Equity
Which of the following would be a price orientation?
Marketing
Which of the following is a component of satisfaction?
Product Performance
Which of the following steps in a strategic marketing plan is part of the information foundation?
SWOT Analysis
Which of the analysis procedures below that are part of the marketing information foundation provide insights for whether organization is on course?(select all answers that apply)
situation analysis

target market analysis

competitor analysis

marketing audit

A company’s long-term plan for using resources to pursue goals and objectives in competitive arenas is called:
Strategy
Which of the following elements of a typical marketing information system tends to deal with the analysis and presentation of information as opposed to the collection and analysis of information?
Decision support systems
In which of the following stages of the buyer decision making process does the customer realize value?
Post purchase decision
In the knowledge generation continuum information directly generate knowledge.
False
Which of the analysis procedures below (that are part of the marketing information foundation) provide insights for potential customers and the market at large?
Target market analysis
Marketing performs its most essential role at three broad levels macro, micro, and personal. At the macro level marketing serves as which of the following?
Social mechanism
Which of the following is a role of pricing over and beyond the recovering of costs associated with a product or service?
All of the above are pricing roles
______ is what happens when a company attempts to capture each of its targeting segments with a unique marketing strategy.
Differentiation
The product life cycle has four stages. Which of the following is NOT one of those stages?
Shake out
All of the following are true regarding how Product Classification and Life Cycle help marketers except for which one?
They help improve marketing efficiency
Competitive Intensity is an information need for a step in which of the following analyses?
Environmental Scanning
Which of the following would not be part of the total price concept?
Contractual Terms
Determining whether objectives are met or not would occur in which stage of the Integrated Marketing Concept Plan?
Measure Results
A company using a leader-customer intimacy competitive strategy might be expected to invest in a customer relationship management system.
True
A company is competing in a somewhat profitable industry where sales over the last 3 years has been 12%, 18%, and 24%. Three firms entered the industry last year and three more are expected this year. This industry would be categorized in which stage of the product life cycle?
Growth
Which of the following is not an aspect of demand?
Decrease the number of competitors in the market place
Which of the following stages in the product life cycle involves building the brand name, adding distributors and creating product extensions and options?
Growth
Which of the following is true of a General Marketing Strategy?
It frames the marketing mix actions to achieve desired position
An organizational vision is not part of a marketing plan.
True
Which of the following terms refers to the extent the company and its actions are consistent with environmental conditions expected in the future?
Being on course
The marketing mix is to micro marketing as which of the following is to macro marketing.
Universal marketing functions
What type of utility makes goods and services available when they are wanted?
Time
Which of the statements below defines the universal marketing function: storage?
Holding products until the time is appropriate for making or breaking bulk
Which of the following produces (as opposed to creates) value primarily through marketing, as opposed to production? (select all answers that apply)
Time, place, possession
The analysis of an organization’s core competencies and their fit with environmental factors is a step in which of the analyses below?
S.W.O.T. analysis
In which of the following outsourcing buying decisions would have the fewest of the buying decision steps implemented by a potential customer?
Straight rebuy
Assessing a factor’s impact and understanding the forces driving its expected changes are associated with the first step in an environmental scan.
False
Cultural diversity is an important part of the macroenvironment. It consists of learned values, common beliefs, common language, common symbols, and behaviors shared by people and passed on from generation to generation. In analyzing culture, marketers must be careful to be influenced by their own values commonly referred to as:
Self-reference criterion
Which of the following are issues or questions associated with Porters ‘Five Forces’? (Select all that apply)
Who are our existing rivals?
What new competitors may emerge?
What substitutes are likely to appear?
Box Feature: Chapter 7 discusses Ritz-Carlton, an organization that exhibits excellence in customer satisfaction and loyalty. Which of the following best describes why it is able to achieve such a loyal and satisfied customer base?
None of these answers are correct.
Johnson Corp. is planning to market a low-involvement purchase product. Which of the following would you expect?
Consumers will make a choice about the product without a lot of effort.
Collecting and analyzing information about the marketing environment in order to detect important changes or trends that can affect a company’s strategy is called:
Environmental scanning
Product benefits refer to the physical or psychological features of a product or service.
False
The diffusion process describes the spread of innovations from on individual or group to another over time. Which of the following is not a category of buyers according to the diffusion process?
Innovators
Focusing on existing market segments with existing products is:
Core business focus
A _____________ segmentation or targeting strategy focuses a unique marketing mix strategy to each or most of the market segments available in the market.
Differentiated
Comparative messages:
draw attention to the sponsor’s brand and other brands mentioned in the message.
What are the three roles for a product in the marketing planning process?
perform function, provide meaning, and frame mix
Developing new products for new market segments is:
Diversification
A channel intensity decision impacts the number of channel outlets or locations as opposed to the number of channels.
True
If an organization’s core competencies or strengths are in the marketing areas of personal selling and distribution relationships, it should lean towards using a push strategy.
True
The objective of Integrated communications is to:
All of these answers are correct.
The portion of the marketing class’s plan addressed in the paragraph that begins with the sentence “The campaign will attempt to get Spartans currently taking 15 credit hours or more, while working 10 or more hours per week, participate in extra-curricular activities for 5 hours or more per week, that are aspiring organizers…”, is an aspect or component of which of the following strategic framing decision?
Segmentation Strategy
The portion of the marketing class’s plan addressed in the paragraph that begins with the sentence ” The overall goal is to get Spartans to sign up for the waiting list for Codename Oxford; and to attend the ‘Launch Event’….”, is an example of which of the following?
Marketing Objectives
The portion of the marketing class’s plan addressed in the paragraph that begins with the sentence “The campaign will attempt to get Spartans currently taking 15 credit hours or more, while working 10 or more hours per week, participate in extra-curricular activities for 5 hours or more per week, that are aspiring organizers…”, is an example of which of the following?
Target Market
The Student’s marketing strategy sought to implement a communication strategy by executing marketing messages (assets) designed to get members of this target market to view the tool as the voice of the ultimate ‘Good-Angel’ in their head that assists them in making their life easier; and that wove messages or positioning that parallel the ‘Spartans Will’. Which of the following types of advertising should they use?
Reinforcement
Even though the product is still at the proto-type stage, the company still wanted to consider pricing issues. Which price orientation would seem to be warranted for this product at its initial launch.
Market or value oriented
Which of the following is one of the four key social media marketing activities identified by the article,”Understanding the Role of Organic versus Paid Social Media”? (Select all that Apply)
Listening, Learning, and Responding
Creating Conversations
Content Marketing
Targeted Marketing
Twitter would generally be considered to be most effective for which of the following objectives? (select all that apply)
Customer Communication
Directing Traffic to website
Search qualities are found mostly in:
Almost pure goods
___________________ are provided by the manufacturers to distribution channel members to give wholesalers and retailers incentive to sell the manufacturer’s brand.
Trade promotions
Advertisers have many ways to transmit messages to consumers. Newspapers, television, magazines, outdoor advertising, the internet, social and mobile are called:
Media
Which of the following identifies the five dimensions of brand equity?
brand awareness, brand loyalty, perceived quality, brand associations, competitive advantage
Coupons, rebates, samples, sweepstakes, value packs, point-of- purchase displays and loyalty programs are:
Consumer promotions used by manufacturers with retailers
Pharmaceutical salespeople attempt to influence physicians’ choice of drugs they prescribe. This is ___________________ sales.
Missionary sales
A strategy in which there is a unique name for each major product or product line is called:
Individual brand strategy
Which of the following is true regarding relationship (customer) objectives for pricing?
Pricing should be done so customers receive enough long-term value to be loyal customers.
Which of the following statements is (are) true for a skimming price strategy? (Check all that apply)
Results in sustained research and development efforts
It seeks to maximize profit margins
It reflects a product leadership competitive value proposition
The marketing planning process proposed in the class insures a global perspective through the analyses processes used in the situation analysis?
True
Which of the following is correct regarding price leadership.
Price leaders can exert power, but often it is unnecessary.
Which of the following is correct regarding monopolistic competition.
All other answers are correct.
The price umbrella is a price:
Set by a leader to encourage other companies to enter or stay in a market
Addressing discrepancies in allocation is a wholesaling function that entails selling a range of merchandise from a variety of sources.
False
Products can be bundled or unbundled for pricing purposes. Which of the following is not an example of the bundled approach.
A restaurant has an a la carte menu.
A shopping experience is the activity related to managing the store and the merchandise in the store
False
Which of the following is not a type of market exchange or transaction?
Singular
What type of utility makes goods and service conveniently available?
Place
Marketing with meaning is about improving customers’ lives through innovation and the functional effectiveness of the product or service provided
false
Which of the following is a area of distinction between a for profit organization versus a non-profit organization with respect to marketing?
nature of price
strength of selling proposition
The collective common beliefs, perspectives, and identity held by members of community with respect to some purpose or cause, or object or brand defines the term _______________
shared consciousness
Transaction efficiency is defined by which of the following statements?
The number of exchanges (contacts) and transactions required to provide a given population its array of products or services
Which of the following produces (as opposed to creates) value primarily through production, as opposed to marketing or innovation?
task
form
Porter’s Value Chain is a useful strategic management tool in that it provides a fuller picture of which of the following?
cost drivers
A build up segmentation method starts with identify the characteristics of a single customer
true
Which of the following types of marketing exchanges or relationships has the unique feature that a new firm is created?
joint venture
Together a S.W.O.T analysis and a competitor analysis helps the organization determine if it can _____
compete
Which of the following is not one of the basic types of competitive strategy?
one of the core competencies
When launching a new product, a company should assess the competitive environment by asking all of the following questions EXCEPT:
What action groups will likely oppose the product?
Which of the following is a competitor of Federal Express overnight delivery?
(all)
UPS
USPS
Airborne Express
fax machine
Which of the following types of analysis procedures for big data provides the expected results from given conditions and actions?
predictive analytics
Which of the following is a criterion used to classify or determine how a product should be classified?
comparisons made
purchase planning
location of purchase decision
Marketers should begin the communication process by understanding:
characteristics of the target market, the objectives of the communication, and how to meet those objectives
Which of the following is an alternative course of action for a segmentation strategy?
change product’s rating on an attribute
Answers to questions by executives like will the organization be a market leader, close follower or also-ran; will it have broad or deep product lines, and how much will be invested in R&D are:
part of the new product strategy
Which type of product is relatively inexpensive and purchased frequently with minimal effort?
convenience
Which of the statements below best defines the term indirect channel?
a distribution channel in which the producer makes use of independent organizations to distribute the product to end users
A company has determined that is customers depreciate the company’s product. The product should be classified as which of the following?
capital item
The portion of the marketing class’s plan addressed in the paragraph that begins within the sentence “the execution of the marketing campaign would be rooted in social media and public relations..” is an example of?
integrated marketing mix strategy
The portion of the marketing class’s plan addressed by the statement “to view or think of the app as an essential tool to help them organize their ideas and schedules”, is a component or aspect of which of the following strategic framing decisions?
positioning strategy
relationship selling focuses on:
forging bonds with buyers in an effort to gain loyalty and mutual satisfaction
Which of the following service classification would have greatest price sensitivity?
self service equipment-based service
Which of the following statements best defines brand awareness?
The exten to which customers recognized the brand and are likely to include it and the set of brands they consider
A product recall occurs
when a manufacturer or the federal government withdraws a product to prevent harm to customers
The evaluation of alternatives for services is based more on surrogate cues the higher the credence.
True
A brand is distinct from a product’s logo or slogan
true
Which of the following influences on price dictate or impacts where the price of some product or service falls between what the market will bear and its floor?
market (marketing) factors
Which of the following is a competitor-oriented price tactic?
base point
Which of the following is not correct regarding retailing?
It is always the most costly method of distribution to consumers