Marketing Management Assignment Questions : IMT CDL MKTC522

IMT CDL Marketing Management Assignment Questions:

PART-1
1. The holistic marketing framework is designed to address three key management questions. Which of the following is one of those questions?
a. Value Proposition - how can value propositions be made profitable?
b. Value chain - are there weak links in the company's value chain?
c. Value network - how can a company effectively network?
d. Value exploration - how can a company identify new value opportunities?

2. The marketing environment is the actors and forces outside marketing that affect marketing management's ability to:
a. Ward off government intervention.
b. Develop and maintain successful transactions with its target customers.
c. Make money.
d. Increase shareholder wealth.

3. Which of the following is central to any definition of marketing?
a. Demand management
b. Making a Profit
c. Customer relationships
d. Making a sale


4. The four Ps represent the sellers' view of the marketing tools available for influencing buyers. From a buyer's point of view, each marketing tool is designed to deliver a customer benefit. Robert Lauterborn suggested that the sellers' four Ps correspond to
the customers' four Cs. The four Cs are ---------------------.
a. customer focus, cost, convenience, and communication
b. customer solution, customer cost, convenience, and communication
c. convenience, control, competition, and cost
d. competition, cost, convenience, and communication

5. According to the simple five-step model of the marketing process, a company needs to-----------before designing a customer-driven marketing strategy.
a. Build profitable relationships with customers’
b. Use customer relationship management to create full partnerships with key customers
c. Construct key components of a marketing program
d. Understand the marketplace and customer needs and wants

6. Which of the following represents the most dramatic force shaping a modern marketer’s destiny?
a. Political environment
b. Technological environment
c. Natural environment
d. Partnership marketing

7. When backed by buying power, wants become -------------------.
a. Demands
b. Social Needs
c. Exchanges
d. Self-Esteem needs

8. If a product has an inelastic demand and the manufacturer raises its prices, ---------------.
a. Total revenue will increase
b. Quantity demanded will increase
c. The demand schedule will shift
d. The demand will become more inelastic

9. When marketers set low expectations for a market offering, they run the risk of-------------.
a. Incorrectly identifying a target market
b. Decreasing customer satisfaction
c. Failing to understand their customers’ needs
d. Failing to attract enough customers

10. All of the following would be forces that might be contained in a company’s micro-environment EXCEPT:
a. Economic forces.
b. The company itself.
c. Marketing channel firms.
d. Suppliers.

11. According to Theodore Levitt, who drew a perceptive contrast between the selling and marketing concepts, -------------- is preoccupied with the need to convert products into cash.
a. Marketing
b. Selling
c. Direct Marketing
d. Holistic Marketing

12. A trend is--------------------.
a. Predictable, short-lived, and without social, economic and political significance
b. Unpredictable, short-lived, and without social, economic and political significance
c. A direction or sequence of events that has some momentum and durability
d. A Direction or sequence of events that has no momentum and durability

13. In the case of excess demand,----------- may be required to reduce the number of customers or to shift demand temporarily or permanently
a. Surplusing
b. Demarketing
c. Marketing
d. Negotiating

14. Minimizing pollution form production and all environmental impacts throughout the full product life cycle is called--------------.
a. Design for environment (DFE)
b. Green Marketing
c. Environmental Sustainability
d. Product Stewardship

15. ---------------- is the set of benefits a company promises to deliver its consumers to satisfy their needs.
a. A money-back guarantee
b. An attribute
c. A value proposition
d. Good customer service

16. Which of the following would be considered to be external to a company’s internal environment?
a. Marketing
b. Intermediaries
c. Manufacturing
d. Accounting

17. Which of the following marketing management concepts is most likely to leas to marketing myopia?
a. Customer-driving marketing
b. Selling
c. Societal marketing
d. Production

18. Which of the following is a disadvantage of primary market research?
a. Up to date
b. Expensive to collect
c. Focused
d. Exclusive

19. The product concept says that a company should---------.
a. Devote its energy to making continuous product improvements
b. Make promoting products the top priority
c. Market only those products with high customer appeal
d. Focus on the target market and make products that meet those customers’ demands

20. Marketing research firms, advertising agencies, and media firms would all be examples of which of the following marketing intermediaries?
a. Financial intermediaries.
b. Physical distribution firms.
c. Marketing service agencies.
d. Resellers.

21. The ------------------concept holds that achieving organizational goals depends on knowing the needs and wants of target markets and delivering the desired satisfaction better than competitors do.
a. Production
b. Product
c. Marketing
d. Selling

22. One of the most common problems with using internal database information is that:
a. Since it was probably collected for some other purpose, it may be incomplete or wrong.
b. It is usually expensive to retrieve.
c. Top executives are usually unwilling to relinquish data, therefore the data has limits.
d. The data is almost always unsecured and, therefore, suspect as to reliability.

23. Which of the following reflects the marketing concept philosophy?
a. “We build them so you can buy them.”
b. “We’re in the business of making and selling superior products.”
c. “You won’t find a better deal anywhere.”
d. “We don’t have a marketing department, we have a customer department.”

24.Which of the following publics would MOST LIKELY include managers, volunteers, and the board of directors?
a. Financial public
b. Internal public
c. General public
d. Local public.

25. The -------------- concept holds that firms must strive to deliver value to customers in a way that maintains or improves both the consumer’s and society’s wellbeing.
a. Societal marketing
b. Product
c. Marketing
d. Selling

26. ------------------ is a philosophy bolding that a company’s marketing should support the best long-run performance of the marketing system.
a. Enlightened marketing
b. Myopic marketing
c. Fundamental marketing
d. Conceptual marketing

27. Relationship marketing is focused upon the development of robust links between the company and its customers. Which of the following are value building approaches to customer relationship marketing?
a. Structural, political and economic benefits
b. Social, political and financial benefits
c. Financial, political and economic benefits.
d. Financial, social and structural benefits.

28. Customers buy form stores and firms that offer the highest---------.
a. Customer perceived value
b. Concern form society’s interests
c. Company image
d. Level of customer satisfaction

29. Which of the following environments is primary in its effect on consumer buying power and spending patterns?
a. Technological environment.
b. Demographic environment.
c. Economic environment.
d. Cultural environment.

30. Through--------------, many companies today are strengthening their connections to all partners, form providers of raw materials to components to final products that are carried to final buyers.
a. Partnership relationship marketing
b. Customized marketing
c. Direct marketing
d. Deviated marketing

31. In 1985, the Cock-Cola Company made a classic marketing blunder with its deletion of its popular Coca-Cola product and introduction of what it called New Coke. Analysts now believe that most of the company’s problems resulted from poor marketing research. As the public demanded their “old Coke” back, the company relented and reintroduced Coca-Cola Classic (which has regained and surpassed its former position) while New Cole owns only 0.1 percent of the market. Which of the following marketing
research mistakes did Coca-Cola make?
a. They did not investigate pricing correctly and priced and product too high.
b. They did not investigate dealer reaction and had inadequate distribution.
c. They defined their marketing research problem too narrowly.
d. They failed to account for the Pepsi Challenge taste test in their marketing efforts.

32. When an airline goes after a “share of travel” from its customers, it is attempting to increase ------------.
a. Customer ownership
b. Total customer spending
c. Customer lifetime value
d. Share of customer

33. Which of the following is not part of an organization’s macro-environment?
a. Political environment
b. Social environment
c. Internal environment
d. Physical environment

34. In a market where demand from customers is strong, but the organization faces acute shortages of staff, which element of its marketing environment is likely to be most important in corporate planning?
a. Internal environment
b. Regulatory environment
c. Micro-economic environment
d. Physical environment

35. Marketing seeks to create and manage profitable customer relationships by delivering--------------to customers.
a. Competitive prices
b. Superior value
c. Superior service
d. Superior promotion

36. Which of the following environments examines institutions and other forces that affect society’s basic values, perceptions, preferences, and behaviors?
a. Legal environment
b. Cultural environment.
c. Psychological environment.
d. Demographic environment.

37. Railroads were once operated based on the thinking that users wanted trains rather than transportation, overlooking the challenge of other modes of transportation. This reflects the --------------.
a. Production concept
b. Marketing concept
c. Product concept
d. Societal marketing concept

38. You have just taken a new position in an organization and you’re learning about the job functions of your new colleagues. You observe that your marketing manager is heavily involved in the process of building and maintaining profitable customer relationships. Your marketing manager frequently speaks about the need to deliver superior customer value and satisfaction. Your marketing is concerned with which one of the following?
a. Customer relationship management
b. Societal marketing concept
c. Web site hits
d. Donor marketing

39. At work, customers decide to satisfy needs and wants through exchange. What occurs at this point?
a. Selling
b. Customer service
c. Marketing
d. Transaction marketing

40. Which of the following is not part of an organization’s intermediate-environment?
a. Channel Intermediaries
b. Customers
c. Statute legislation
d. Suppliers

41. One of the following is the call of the Information Age where the customer asks:
a. “This is what I want, will you make it safer?”
b. “This is what I want, won’t you please make it?”
c. “Can you make it safer and sell it cheaper?”
d. “This is what I want, can you provide more option?”

42. A tremendous advantage of modern communication and advertising tools is that marketers can zero in on selected customers with carefully--------.
a. Selected customer profiles
b. Customized products
c. Flexible pricing ranges
d. Selected targeted messages

43. Disney has been successful in selecting an overall company strategy for long-run survival and growth called------------.
a. Tactical planning
b. Strategic planning
c. Futuristic planning
d. Relationship marketing

44. Which of the following is not true of changes in a firm’s technological environment?
a. New technology allows for new ways of communicating with a firm’s customers.
b. New technology always leads to benefits for firms.
c. New technology can allow new goods and services to be developed.
d. New technology lowers the production learning curve.

45.Local community groups, road safety campaigning organizations and government agencies are necessarily------------a car manufacturer.
a. Pressure groups on
b. Regulators of
c. Intermediaries for
d. Shareholders of

46. Paul Pierce is busy working with other managers evaluating the products and businesses making up their company. Paul is engaged in---------------------.
a. Strategic business unit analysis
b. Preparing a business portfolio
c. Portfolio analysis
d. Marketing planning

47.The most commercially influential demographic group in history is-------------------.
a. Generation X
b. Baby boomers
c. Generation Y
d. Seniors

48. A company’s marketing environment includes various--------, which consists of any group that has an actual or potential interest in or impact on an organization’s ability to achieve its objectives.
a. Teams
b. Audiences
c. Markets
d. Publics

49. Firms that take an environmental management perspective will hire ------------- to influence legislation affecting their industries to their advantage.
a. Mediators
b. Lobbyists
c. Negotiators
d. Politicians

50. What went wrong with Coke in 1985?
a. Management defined its marketing research problem too narrowly.
b. The research looked only at taste and not feeling about dropping the old Coke.
c. No account of intangibles was taken.
d. All of the above

51.Patti Lovelace is making presentation to the owners of her company. She is trying to convince them to conduct some current marketing research. Which of the following would she not emphasize as a benefit or selling point?
a. Assess market potential and market share
b. Understand customer satisfaction and purchase behavior
c. Measure the effectiveness of pricing the accounting
d. Measure the effectiveness of distribution and promotion activities

52.Survey research, called the backbone of primary research, is the most widely used method for primary data collection and is best suited for gathering------------- information.
a. Personal
b. Preference
c. Attitude
d. Descriptive

53. Small organization can obtain most of this type of data available to large businesses with minimal effort. What type is it?
a. Census
b. Internet
c. Secondary
d. Primary

54. Recognizing that surveys can be abused, several research associations have developed ------------and------------.
a. Research conduct; standards of ethics
b. Research ethics; standards of conduct
c. Safeguards; public policy
d. Research ethics; safeguards

55.Which of the following element of marketing mix customer analyzes at the last, Taking
a decision of buying a particular product?
a. Promotion
b. Place
c. Price
d. Product

56.Which of the following statements is correct?
a. Marketing is the term used to refer only to the sales function within a firm
b. Marketing managers usually don’t get involved in production or distribution decisions
c. Marketing is an activity that considers only the needs of the organization, not the needs of society as a whole
d. Marketing is the activity, set of institution, and processes for creating, communicating delivering, and exchanging offerings that have value of customers, clients, partners, and society at large

57. A marketing philosophy summarized by the phrase “a good product will sell itself” is characteristic of the---------- period
a. Production
b. Sales
c. Marketing
d. Relationship

58. Within the micro-environment a channel of distribution can BEST be described as:
a. All of the retailers in a country who stock a particular type of product.
b. All of those people and organizations involved in the process of transferring a product form the producer to the consumer
c. A route plan for as company’s fleet of delivery trucks, designed to minimize the cost per delivery.
d. A route plan for as company’s fleet of delivery trucks, designed to maximize the speed of delivery.

59. The term marketing refers to:
a. New product concepts and improvements
b. Advertising and promotion activities
c. A philosophy that stresses customer value and satisfaction
d. Planning sales campaigns

60.Which of the following factors contributed to the transition from the production period to the sales period?
a. Increased consumer demand
b. More sophisticated production techniques
c. Increase in urbanization
d. The Great Depression

61. Which of the following is not a benefit for conducting environmental analysis?
a. An increase in an organization’s exposure to politically unstable markets
b. Aid to decision making
c. Choice of market and marketing mix
d. Prioritize and manage risk factors

62. The ultimate aim of customer relationship management is to produce------------.
a. Sales volume
b. Customer equity
c. A reliable database
d. Profits

63. Which of the following information forms available to the marketing manager can
usually be accessed more quickly and cheaply than other information sources?
a. Marketing intelligence
b. Marketing research
c. Customer profiles
d. Internal databases

64. All of the following are considered to be drawbacks of local marketing except:
a. It can drive up manufacturing and marketing costs by reducing economies of scale.
b. It can create logistical problems when the company tries to meet varied requirements
c. It can attract unwanted competition
d. It can dilute the brand’s overall image.

65.The company that overlooks new and better ways to do things will eventually lose customers to another company that has found a better way of serving customer needs is a major tenet of:
a. Innovative marketing.
b. Consumer-oriented marketing.
c. Value marketing.
d. Sense-of-mission marketing.

66. A (n) --------------- are computerized collections of information obtained from data sources within the company.
a. Retrieval systems
b. Marketing research reports
c. Flow diagrams and PERT charts
d. Internal databases

67. When Michal Jordan and Tiger Woods use marketing to promote their careers and improve their impact and incomes, they are using:
a. Cause-Related Marketing
b. Idea Marketing
c. Nonprofit Marketing
d. Person Marketing

68. According to the text, the most dramatic of the environments that affect marketing and appears to be now shaping our world is the ----------------environment.
a. Natural
b. Demographic
c. Economic
d. Technological

69. In an example discussed in your text, Johnson & Johnson’s recall of their Tylenol product following the discovery that several bottles of Tylenol had been laced with which business philosophy?
a. The marketing concept.
b. The product concept
c. The selling concept
d. The societal marketing concept.

70. All of the following are criticisms leveled against marketing by critics except :
a. Harming consumers through high prices
b. Harming consumers through deceptive practices.
c. Harming consumers through high-pressure selling.
d. Harming consumers through too many product choices.

71. The major advantage of survey research is its :
a. Simplicity
b. Structure
c. Organization
d. Flexibility.

72. When personal interviewing involves inviting six to ten people to gather for a few hours with a trained interviewer to talk about a product, service, or organization, the method is called :
a. Selective sponsorship
b. Probing
c. Focus group interviewing
d. Delphi method

73. The -------------holds that consumers will favor products that are available and highly affordable (therefore, work on improving production and distribution efficiency).
a. Product Concept
b. Production Concept
c. Production Cost Expansion Concept
d. Marketing Concept

74. One common misuse of marketing research findings in contemporary business is the tendency for marketing research to:
a. Become a vehicle for pitching the sponsor’s products.
b. Become a vehicle for discriminating in the marketplace
c. Become a means for raising prices
d. Become a means for unfair competition

75. Good marketing is no accident, but a result of careful planning and-----------.
a. Execution
b. Selling
c. Strategies
d. Tactics

76. Marketing is both an “art” and a” science”---there is constant tension between the formulated side of marketing and the -------------side.
a. Creative
b. Selling
c. Management
d. forecasting

77. The most formal definition of marketing is -------------.
a. Meeting needs profitably
b. Identifying and meeting human and social needs
c. The 4Ps (Product, Price, Place, Promotion)
d. An organizational function and a set of processes for creating, communicating, and delivering, value to customers, and for managing customer relationships in ways that benefit the organization and its stake holders.

78. Marketing management is---------------
a. Managing the marketing process
b. Monitoring the profitability of the company’s products and services
c. Developing marketing strategies to move the company forward
d. The art and science of choosing target markets and getting, keeping and growing customers through creating, delivering, and communicating superior customer value

79. A transaction involves--------------.
a. At least two parties
b. Each party has something that might be of value to the other party
c. Each party is capable of communication and delivery
d. All of the above

80. --------------- goods constitute the bulk of most countries production and marketing efforts.
a. Durable
b. Impulse
c. Physical
d. Service

81. -------------- can be produced and marketed as a product.
a. Information
b. Celebrities
c. Durable goods
d. Organizations

82. A----------------is someone seeking a response (attention, a purchase, a vote, a donation) form another party, called the ------------.
a. Salesperson, customer
b. Fund raiser, contributor
c. Politician, voter
d. Marketer, prospect

83. In---------------- consumers may share a strong need that cannot be satisfied by an existing product.
a. Negative demand
b. Latent demand
c. Declining demand
d. Irregular demand

84. Marketers often use the term---------------to cover various groupings of customers.
a. People
b. Buying power
c. Demographic segment
d. Market

85. In ----------------more customers would like to buy the product than can be satisfied.
a. Latent demand
b. Irregular demand
c. Overfull demand
d. Excessive
e. Negative demand

86. Companies selling mass consumer goods and services such as soft drinks, cosmetics, air travel, and athletic shoes and equipment spend a great deal of time trying to establish a superior brand image in markets called-----------.
a. Business markets
b. Global markets
c. Consumer markets
d. Nonprofit and governmental markets

87. In business markets, advertising can play a role, but a stronger role may be played by the sales force, --------, and the company’s reputation for reliability and quality.
a. Brand image
b. Distribution
c. Promotion
d. Price

88. Mohan Sawhney has proposed the concept of ---------- to describe a cluster of complementary products and services that are closely related in the minds of consumers but are spread across a diverse set of industries.
a. Metamarket
b. Vertical integration
c. Horizontal integration
d. Betamarket

89. Many countries have-------------industries to create greater competition and growth opportunities.
a. Open-market
b. Deregulated
c. Regulated
d. Scientifically segmented

90. Customers are showing greater price sensitivity in their search for------------.
a. The right product
b. The right service
c. The right store
d. Value

91. Industry boundaries are blurring at an incredible rate as companies are recognizing that new opportunities lie at the intersection of two or more industries this is called---------.
a. Globalization
b. Customization
c. Industry convergence
d. Heightened competition

92. The -----------------is practiced most aggressively with unsought goods, goods that buyers
normally do not think of buying, such as insurance, encyclopedias, and funeral plots.
a. Marketing concept
b. Selling concept
c. Production concept
d. Product concept

93. The -----------concept holds that consumers will favor those products that offer the most quality, performance, or innovative features.
a. Product
b. Marketing
c. Production
d. Selling

94. The ------------- concept holds that consumers and businesses, if left alone, will ordinarily not buy enough of the organization’s products.
a. Production
b. Selling
c. Marketing
d. Product

95. Several scholars have found that companies who embrace the marketing concept achieve superior performance. This was first demonstrated for companies practicing a------------understanding and meeting customers’ expressed needs.
a. Reactive market orientation
b. Proactive marketing orientation
c. Total market orientation
d. Impulsive market orientation

96. In the course of converting to a marketing orientation, a company faces three hurdles-----------.
a. Organized resistance, slow learning, and fast forgetting
b. Management, customer reaction, competitive response
c. Decreased profits, increased R&D, additional distribution
d. Customer focus, profitability, slow learning

97. Companies that practice both a reactive and proactive marketing orientation are implementing a ----------------and are likely to be the most successful.
a. Total market orientation
b. External focus
c. Customer focus
d. Competitive, customer focus

98. Marketers argue for a ----------- in which all functions work together to respond to, serve, and satisfy the customer.
a. Cross-functional team orientation
b. Collaboration model
c. Customer focus
d. Competitive, customer focus

99.---------------can be seen as the development, design, and implementation of marketing programs processes, and activities that recognizes the breadth and interdependencies of their effects.
a. Niche marketing
b. Holistic marketing
c. Relationship marketing
d. Supply-chain marketing

100. --------------marketing has the aim of building mutually satisfying long-term relations with key parties such as customers, suppliers, distributors, and other marketing partners in order to earn and retain their business
a. Holistic
b. Demand-based
c. Direct
d. Relationship

101. Companies who form -------------- collect information on each customer’s past transactions, demographics, psychographics, and media and distribution preferences.
a. Sales network
b. Holistic union
c. Marketing network
d. Supply-chain network

102. The ability of a company to deal with customers one at a time has become practical as a result of advances in----------, computers, the Internet, and database marketing software.
a. Improved communication flow
b. Information technology
c. Just-in-time manufacturing
d. Factory customization

103. One traditional depiction of marketing activities is in terms of the marketing mix or four Ps. The four Ps are characterized as being------.
a. Product, positioning, place, and price
b. Product, production, price, and place
c. Promotion, place, positioning, and price
d. Product, price, promotion, and place

104. The four Ps represent the sellers’ view of the marketing tools available for influencing buyers. From a buyer’s point of view, each marketing tool is designed to deliver a customer benefit. Robert Lauterborn suggested that the sellers’ four Ps
correspond to the customers’ four Cs. The four Cs are ------------.
a. Customer focus, cost, convenience, and communication
b. Customer solution, customer cost, convenience, and communication
c. Convenience, control, competition, and cost
d. Competition, cost, convenience, and communication

105. Holistic marketing incorporates --------------,ensuring that everyone in the organization embraces appropriate marketing principles, especially senior management.
a. Profit objectives
b. Share of customer
c. Internal marketing
d. The marketing mix

106. Marketing is not a department so much as a ------------.
a. Company orientation
b. Philosophy
c. Function
d. Branch of management

107. Holistic marketing incorporates-------------- and understanding broader concerns and the ethical, environmental, legal, and social context of marketing activities and programs.
a. Safe product design
b. Cultural marketing
c. Social responsibility marketing
d. Cross-functional teams

108. The ------------holds that the organization’s task is to determine the needs, wants, and interests of target markets and to deliver the desired satisfactions more effectively and efficiently than competitors in a way that preserves or enhances the consumer’s and the society’s well-being.
a. Customer-centered business
b. Focused business model
c. Societal marketing concept
d. Ethically responsible marketing manager

109. Companies see----------as an opportunity to enhance their corporate reputation, raise brand awareness, increase customer loyalty, build sales, and increase press coverage.
a. Cause-related marketing
b. Brand marketing
c. Equity marketing
d. Direct marketing

110. When a customer has a(n) -------------need he/she wants a car whose operating cost, not its initial price, is low
a. Stated
b. Real
c. Unstated
d. Delight

111. When a customer has a(n) need the customer wants to be seen by friends as a savvy consumer.
a. Real
b. Unstated
c. Delight
d. Secret

112. --------------reflects the perceived tangible and intangible benefits and costs to customers.
a. Loyalty
b. Satisfaction
c. Value
d. Expectations

113. -----------------includes all the actual and potential rival offerings and substitutes that a buyer might consider.
a. Competition
b. The product offering
c. A value proposition
d. The supply chain

114. The------------includes he immediate actors involved in producing, distributing, and promoting the offering. The main actors are the company, suppliers, distributors, dealers, and the target customers.
a. Operations environment
b. Management environment
c. Strategic environment
d. Task environment

115. The-----------process consists of analyzing marketing opportunities: selecting target markets; designing marketing strategies: developing marketing programs; and managing the marketing effort.
a. Marketing planning
b. Strategic planning
c. Market research
d. Opportunity analysis

116. Some companies are now switching from being solely product-centered (with product managers and product divisions to manage them) to being more--------- centered.
a. Competency
b. Strategy
c. Marketing
d. Customer-segment

117. Companies are recognizing that much of their market value comes form------------, particularly their brands, customer base, employees, distributor and supplier relations, and intellectual capital.
a. Variable assets
b. The value proposition
c. Intangible assets
d. Tangible assets

118. Top management is going beyond sales revenue alone to examine the marketing scorecard to interpret what is happing to----------.
a. Market share
b. Customer satisfaction
c. Product quality
d. All of the above

119. A key ingredient of the marketing management process is insightful, --------------- marketing strategies and plans that can guide marketing activities.
a. Creative
b. Measurable
c. Macro
d. Micro

120. The task of any business is to deliver ----------- at a profit.
a. Customer needs
b. Products
c. Customer value
d. Products and services

121. The traditional view of marketing is that the firm makes something and then---------------it.
a. Markets
b. Sells
c. Distributes
d. Prices

122. Today, the “mass-marker” is actually splintering into numerous-----------, each with its own wants, perceptions, preference, and buying criteria.
a. Micro markets
b. Market targets
c. Macro markets
d. Customer cliques

123. The first phase of the value creation and delivery sequence is------that represents the “homework” marketing must do before any product exists.
a. Choosing the value
b. Market research
c. Target marketing
d. Service consideration

124. The last step in the value creation and delivery sequence is--------------the value where the sales force, sales promotion, advertising, and other communication tools announce and promote the product.
a. Developing
b. Distributing
c. Communicating
d. Reversing

125. The Japanese have refined the value delivery process to include a component that emphasizes ---------------.
a. Zero servicing
b. Zero customer feedback time
c. Zero promotion
d. Zero dependency on intermediaries

126. The ----------------is a tool for identifying ways to create more customer value.
a. Value chain
b. Customer survey
c. Brand loyalty index
d. Promotion channel

127. The---------identifies nine strategically relevant activities that crate value and cost in a specific business.
a. Value proposition
b. Value chain
c. Mission statement
d. Annual report

128. The------------in the value chain cover the sequence of bringing materials into the business (inbound logistics), converting them into final products (operation), shipping out final products (outbound logistics), marketing them (marketing and sales), and servicing them(service).
a. Operations process
b. Manufacturing process
c. Primary activities
d. Secondary activities

129. Procurement, technology development, human resource management, and firm infrastructure are handled in certain specialized departments and are called------------.
a. Materials handling
b. Support activities
c. Inventory activities
d. Primary activities

130. The firm should estimate its competitors’ costs and performances as------------ against which to compare its own costs and performance.
a. Competition
b. Standards
c. Challenges
d. Benchmarks

131. The firm’s success depends not only on how well each department performs its work, but also on how well the various departmental activities are coordinated to conduct-----------.
a. Core strategies
b. Satellite businesses
c. Core values
d. Core business processes

132. With respect to core business processes, all the activities involved in gathering market intelligence, disseminating it within the organization, and acting on the information is referred to as the --------------.
a. Market sensing process
b. Market research process
c. Target marketing process
d. Market pulse process

133. A good way to describe the ------------would be discussing all the activities involved in building deeper understanding, relationships, and offerings to individual customers.
a. Customer acquisition process
b. Customer relationship management process
c. Customer prospecting process
d. Customer fulfillment management process

134. Another way to describe a value delivery network (partnering with specific suppliers and distributors) is to call it a------------.
a. Teamwork group
b. Cabal
c. Domestic power center
d. Supply chain

135. One conception of holistic marketing views it as ”integrating the value exploration, -------------. And value delivery activities with the purpose of building longterm, mutually satisfying relationships and co-prosperity among key stakeholders.”
a. Value creation
b. Value proposition
c. Value management
d. Value research

136. Holistic marketers achieve profitable growth by expanding customer share,------------, and capturing customer lifetime value.
a. Undermining competitive competencies
b. Building customer loyalty
c. Milking the market for product desires
d. Renewing a customer base

137. The customer’s----------reflects existing and latent needs and includes dimensions such as the need for participation, stability, freedom, and change.
a. Competence space
b. Resource space
c. Emotional space
d. Cognitive space

138. ---------------allows the company to discover who its customers are, how they behave, and what they need or want. It also enables the company to respond appropriately, coherently, and quickly to different customer opportunities.
a. Network management
b. Strategic management
c. Marketing management
d. Customer relationship management

139. To respond effectively and provide value delivery, the company requires--------- to integrate major business processes (e.g., order processing, general ledger, payroll, and production) within a single family of software modules.
a. Human resource management
b. Internal auditing management
c. Internal resource management
d. Strategic management

140. With respect to value delivery, -------------allows the company to handle complex relationships with its trading partners to source, process, and deliver products.
a. A value matrix
b. A global distribution policy
c. A business development strategy
d. Business partnership management

141. Successful marketing requires having capabilities such as understanding---------, creating customer value, delivering customer value, capturing customer value, and sustaining customer value.
a. Customer loyalty
b. Customer perks
c. Customer retention
d. Customer value

142. According to a Mc Kinsey research study, which of the following is one of the main challenges that marketing must face in the twenty-first century?
a. The threat of ethics-based lawsuits.
b. Doing more with less.
c. Hostile takeover attempts.
d. Increasing control by big governments

143. Most large companies consist of four organizational levels: the----------, the division level, the business unit level, and the product level.
a. Board of director level
b. Major stakeholder level
c. Management team level
d. Corporate level

144. -----------------is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company.
a. Marketing intelligence
b. MIS ( marketing information system)
c. Marketing research
d. Demographics

145. The marketing manager needs to know the cost of the research project before approving it. During which of the following stages of the marketing research process would such a consideration most likely take place?
a. Step 1- defining the problems.
b. Step1- creating decision alternatives.
c. Step1- drafting the research objectives.
d. Step2- develop the research plan

146. Designing a research plan calls for decision on all of the following EXCEPT--------------.
a. Drafting research objectives
b. Data source
c. Research approaches
d. Research instruments
e. Sampling plans

147. ----------------are data that were collected for another purpose and already exist somewhere.
a. Primary data
b. Secondary data
c. Tertiary data
d. Inordinate
e. Ordinate

148. Primary data can be collected in several ways. Which of the following primary data collections methods would be exemplified by constructing see- through mirrors in a retail store whereby consumers’ actions could be recorded?
a. Focus groups
b. Surveys
c. Observation
d. Behavioral data

149. A -------------is a gathering of six to ten people who are carefully selected based on certain demographic, psychographic, or other considerations and brought together to discuss at length various topics of interest.
a. Market maven
b. Virtual research market
c. Consumer dyad
d. Focus group

150. ---------------consists of measuring and evaluating actual sales in relation to goals.

a. ROI analysis
b. Demand
c. Sales analysis
d. Performance reviews