Which of the following is NOT one of the major environmental forces?

Deterministic Indeterministic Asymmetric Moderating Demographic

The Friends for Life Leading-edge baby boomer cohort were born between __________ .
1966 - 1976 1946 - 1954 1938 - 1945 1955 - 1965 1912 - 1921

The Friends for life cohort born between 1928 1945 is the ____________ .
trailing-edge, baby boomer cohort depression cohort generation X cohort generation N cohort (or generation Y) post-war cohort

In which of the following countries have more people arrived than have left?

Netherlands Spain Baltic states Northern Ireland Poland

Which of the following income-distribution patterns is NOT recognised by marketers?

Very Low Incomes Very Low, Very High Incomes Mostly low incomes Low/Medium, High Incomes Very High Incomes

People absorb, almost unconsciously, a world view that defines their relationship to themselves, to others, to organisations, to society, to nature and the universe. The _________ depicts a concern for the homeless and crime victims.
views of themselves views of organisations views of nature views of society views of others

Which of the following is NOT generally thought to be a major trend associated with the natural environment.
Shortage of foodstuffs

Increased level of pollution in the atmosphere Increased cost of energy Shortage of water Shortage of capital

Political action committees (PACs) do NOT lobby government officials and pressure business executives to pay more attention to______________ rights.
womens senior citizens minority and gay consumers alcoholics

Which of the following does a customer database usually NOT contain?

Comprehensive and current information about on market trends. Comprehensive and current information about prospects. Comprehensive information about hotels in European capital cities. Comprehensive and current information about individual customers. Comprehensive information about growth opportunities.

Which of the following is NOT part of the CRISP DM project six-phase datamining methodology?
Activity Based Costing (ABC) understanding Data understanding

Evaluation Business understanding Modelling

Enterprising individuals and companies manage to create new solutions to unmet needs.
True False

Google has become a leader in the new marketing environment.

True False

Macro environmental forces and trends are controllable.

True False

The EU population is not aging.

True False

A recent Datamonitor survey revealed that 90 per cent of food industry experts do not believe ethnic minority consumers are a key group to target.
True False

Each society contains subcultures, groups with shared values, beliefs, preferences and behaviours.
True False

The deterioration of the natural environment is a major global problem.

True False

There are four keys to avoid green marketing myopia.

True False

Environment auditing began in the 1980s.

True False

There are five main ways marketers can find relevant online information about competitors product strengths and weaknesses.
True False

Your Results for: "Concept Challenge MCQ's "

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Site Title: Marketing Management Book Title: Marketing Management Book Author: Kotler

Summary of Results
25% Correct of 20 Scored items:
5 Correct: 15 Incorrect: 25% 75%

Location on Student Resources > Part 2: Site: CAPTURING MARKETING INSIGHTS > Chapter 5: The changing marketing environment and information management > Concept Challenge MCQ's Date/Time April 3, 2013 at 7:29 PM (UTC/GMT) Submitted:

2 questions not scored. 20 scored questions. More information about scoring

1.

Which of the following is NOT one of the major environmental forces? Your Answer: Asymmetric Correct Answer: Demographic

2.

The Friends for Life Leading-edge baby boomer cohort were born between __________ . Your Answer: 1938 - 1945 Correct Answer: 1946 - 1954

3.

The Friends for life cohort born between 1928 1945 is the ____________ . Your Answer: generation X cohort Correct Answer: post-war cohort

4.

In which of the following countries have more people arrived than have left?

Your Answer: Spain

5.

Which of the following income-distribution patterns is NOT recognised by marketers? Your Answer: Mostly low incomes Correct Answer: Very High Incomes

6.

People absorb, almost unconsciously, a world view that defines their relationship to themselves, to others, to organisations, to society, to nature and the universe. The _________ depicts a concern for the homeless and crime victims. Your Answer: views of organisations Correct Answer: views of others

7.

Which of the following is NOT generally thought to be a major trend associated with the natural environment. Your Answer: Increased cost of energy Correct Answer: Shortage of capital

8.

Political action committees (PACs) do NOT lobby government officials and pressure business executives to pay more attention to______________ rights. Your Answer: senior citizens Correct Answer: alcoholics

9.

Which of the following does a customer database usually NOT contain?

Your Answer: Comprehensive and current information about individual customers. Correct Answer: Comprehensive information about hotels in European capital cities.

10.

Which of the following is NOT part of the CRISP DM project six-phase datamining methodology? Your Answer: Data understanding Correct Answer: Activity Based Costing (ABC) understanding

11.

Enterprising individuals and companies manage to create new solutions to unmet needs. Your Answer: False Correct Answer: True

12.

Google has become a leader in the new marketing environment. Your Answer: True

13.

Macro environmental forces and trends are controllable. Your Answer: True Correct Answer: False

14.

The EU population is not aging. Your Answer: True Correct Answer: False

15.

A recent Datamonitor survey revealed that 90 per cent of food industry experts do not believe ethnic minority consumers are a key group to target. Your Answer: True Correct Answer: False

16.

Each society contains subcultures, groups with shared values, beliefs, preferences and behaviours. Your Answer: True

17.

The deterioration of the natural environment is a major global problem. Your Answer: True

18.

There are four keys to avoid green marketing myopia. Your Answer: True Correct Answer: False

19.

Environment auditing began in the 1980s. Your Answer: False Correct Answer: True

20.

There are five main ways marketers can find relevant online information about competitors product strengths and weaknesses. Your Answer: True

21.

Concept Challenge MCQ's

This activity contains 22 questions.

The top business market challenge for 2005-2007 was to __________________ .

create new models and linkages

reinstate innovation as an engine of growth

demonstrate and deliver customer value

expand understanding of customer needs, market segments and the drivers of customer value

compete globally

A features Marketing insight describes _________ hints to maximise sales to small businesses.
eight

three

six

seven

five

The seven keys to successfully developing customer reference stories featured in a Marketing memo include four of the following but NOT __________ .
a list of quantified results

provide a brief but meaningful summary

emphasise the need to satisfy customer needs

advisability of differentiating market offerings from those of competitors

recommendation to describe company solutions in value terms

Which of the following buyer styles is NOT featured in Chapter 8?

Want-everything-done buyers

Want-the-best buyers

Keep-it-simple buyers

Want-the-cheapest-source buyers

Own-expert buyers

Which of the following is NOT a source recommended in Chapter 8 for generating leads?
EUbusiness.com

Google

Dunn & Bradstreet

CSR Europe

Business.com

If a company asks customers to rank their preferences for alternative market offerings or concepts and uses statistical analysis to estimate the implicit value placed on each attribute they are using _______________ .
focus Group Assessment

conjoint Analysis

importance Ratings

benchmarking

direct Survey Questions

If a company uses customer interviews about how the costs of using a new product compare to those of using an existing one it is using ________________ .
benchmarking

a compositional approach

conjoint Analysis

a Field Value-in-Use Assessment

importance Rankings

If a company asks customers to attach a monetary value to each of three alternative levels of a given attribute, repeats for other attributes and then adds the values for any offer configuration it is practising the _________________Approach.
internal Engineering Assessment

benchmarking

a field value-in-use assessment

compositional

importance Rankings

Which of the following is NOT a typical source of transaction uncertainty?

Lack of institutional standards

High levels of inter-firm trust

Insufficient information

Trading procedures

Lack of confidentiality of information

Toyotas ability to create and manage network-level knowledge-sharing process goes some way to explain their relative productivity advantages. Toyotas network delivers four of the advantages listed below but NOT ____________ .
benefits from spill-overs to competitors

motivates members to participate

reduces the cost of finding and accessing different types of valuable knowledge

motivates members to openly share valuable knowledge

prevents free-riders

When complicated selling is involved companies use missionary sales forces.

True False

One way to generate new buyers is to persuade existing customers to act as references.
True False

Systems selling is not a key industrial marketing strategy.

True False

The typical buying centre has a two members.

True False

Minority suppliers are the fastest-growing segment of todays business landscape.

True False

The buying process begins when someone in the company recognises a problem or need that can be met by acquiring a product or service.
True False

Product Value Analysis (PVA) is an approach to cost reduction that studies components to determine whether they can be redesigned.
True False

Researchers study how business marketers assess customer value found six different Customer Value Assessment (CVA) methods.
True False

Transaction Cost Economics (TCE) is when market agents have no limits on their ability to make truly rational decisions.
True False

Public procurement is a key sector of the EU economy.

True False

Your Results for: "Concept Challenge MCQ's "

Site Title: Marketing Managemen t Book Title: Marketing Managemen t Book Kotler Author: Location Student on Site: Resources > Part 2: CAPTURING MARKETING INSIGHTS > Chapter 8: Analysing business markets > Concept Challenge MCQ's

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Summary of Results
40% Correct of 20 Scored items:
8 Correct: 12 Incorrect: 40% 60%

2 questions not scored. 20 scored questions. More information about scoring

Date/Time April 3, Submitted 2013 at : 7:32 PM (UTC/GMT)

1.

The top business market challenge for 2005-2007 was to __________________ . Your Answer: create new models and linkages Correct Answer: expand understanding of customer needs, market segments and the drivers of customer value

2.

A features Marketing insight describes _________ hints to maximise sales to small businesses. Your Answer: three Correct Answer: seven

3.

The seven keys to successfully developing customer reference stories featured in a Marketing memo include four of the following but NOT __________ . Your Answer: emphasise the need to satisfy customer needs Correct Answer: advisability of differentiating market offerings from those of competitors

4.

Which of the following buyer styles is NOT featured in Chapter 8?

Your Answer: Want-everything-done buyers Correct Answer: Want-the-cheapest-source buyers

5.

Which of the following is NOT a source recommended in Chapter 8 for generating leads? Your Answer: Google

6.

If a company asks customers to rank their preferences for alternative market offerings or concepts and uses statistical analysis to estimate the implicit value placed on each attribute they are using _______________ . Your Answer: importance Ratings Correct Answer: conjoint Analysis

7.

If a company uses customer interviews about how the costs of using a new product compare to those of using an existing one it is using ________________ . Your Answer: benchmarking Correct Answer: a Field Value-in-Use Assessment

8.

If a company asks customers to attach a monetary value to each of three alternative levels of a given attribute, repeats for other attributes and then adds the values for any offer configuration it is practising the _________________Approach.

Your Answer: a field value-in-use assessment Correct Answer: compositional

9.

Which of the following is NOT a typical source of transaction uncertainty? Your Answer: High levels of inter-firm trust

10.

Toyotas ability to create and manage network-level knowledge-sharing process goes some way to explain their relative productivity advantages. Toyotas network delivers four of the advantages listed below but NOT ____________ . Your Answer: reduces the cost of finding and accessing different types of valuable knowledge Correct Answer: benefits from spill-overs to competitors

11.

When complicated selling is involved companies use missionary sales forces. Your Answer: True

12.

One way to generate new buyers is to persuade existing customers to act as references. Your Answer: True

13.

Systems selling is not a key industrial marketing

strategy. Your Answer: False

14.

The typical buying centre has a two members. Your Answer: True Correct Answer: False

15.

Minority suppliers are the fastest-growing segment of todays business landscape. Your Answer: True

16.

The buying process begins when someone in the company recognises a problem or need that can be met by acquiring a product or service. Your Answer: False Correct Answer: True

17.

Product Value Analysis (PVA) is an approach to cost reduction that studies components to determine whether they can be redesigned. Your Answer: True

18.

Researchers study how business marketers assess customer value found six different Customer Value Assessment (CVA) methods. Your Answer: True Correct Answer: False

19.

Transaction Cost Economics (TCE) is when market agents have no limits on their ability to make truly rational decisions. Your Answer: True Correct Answer: False

20.

Public procurement is a key sector of the EU economy. Your Answer: True

Multiple Choice

1. 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 e. niche Answer: a

Page: 35

Level of difficulty: Medium

2. According to a chapter story about H&M clothing stores, H&M is able to put products out quickly and inexpensively by all of the following EXCEPT ________.

having few middlemen and owning no factories buying large volumes having extensive experience in the clothing industry having a great knowledge of which goods should be bought from which markets having total control of its distribution channel from the time the goods are produced until the time they are sold Answer: e Page: 36 Level of difficulty: Hard

a. b. c. d. e.

3. The task of any business is to deliver ________ at a profit.

a. customer needs b. products c. customer value d. products and services e. improved quality Answer: c Page: 36 4. In a hyperco

Level of difficulty: Medium

mpetitive economy such as ours, a company can win only by fine-tuning the value delivery process and choosing, providing, and ________ superior value. a. communicating b. selecting target markets with c. composing d. developing e. researching Answer: a Page: 36 Level of difficulty: Medium

5. The traditional view of marketing is that the firm makes something and then ________ it.

a. markets b. sells c. distributes d. prices e. services Answer: b 6.

Page: 36

Level of difficulty: Easy

Today, the mass-market is actually splintering into numerous ________, each with its own wants, perceptions, preferences, and buying criteria.

a. micromarkets b. market targets c. macromarkets d. customer cliques e. demographic units Answer: a Page: 37

Level of difficulty: Medium

7. 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 e. projective thinking Answer: a Page: 37

Level of difficulty: Medium

8. The last step in the value creation and delivery sequence is ________ the value where the sales force, sales pro

motion, advertising, and other communication tools announce and promote the product. a. developing b. distributing c. communicating d. reversing e. researching Answer: c Page: 37 Level of difficulty: Medium 9. The Japanese have refined the value delivery process to include a co

mponent that emphasizes ________. a. zero servicing b. zero customer feedback time c. zero promotion d. zero dependency on intermediaries e. zero marketing costs Answer: b Page: 38

Level of difficulty: Medium

10. 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 e. supplier database Answer: a Page: 38

Level of difficulty: Easy

11. The ________ identifies nine strategically relevant activities that create value and cost in a specific business.

a. value proposition b. value chain c. mission statement d. annual report e. managers log Answer: b Page: 38

Level of difficulty: Medium

12. The ________ in the value chain cover the sequence of bringing materials into the business (inbound logistics), converting them into final products (operations), 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 e. tertiary activities Answer: c Page: 38

Level of difficulty: Medium

13. 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 e. benchmark activities Answer: b Page: 38 14. The firm should estimate its co

Level of difficulty: Hard

mpetitors costs and performances as ________ against which to compare its own costs and performance. a. competition b. standards c. challenges d. benchmar ks

e. moveable standards Answer: d Page: 38 Level of difficulty: Easy 15. The firms 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 e. core technologies Answer: d Page: 38 Level of difficulty: Medium 16. 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 e. deployment process Answer: a Page: 38

Level of difficulty: Medium

17. With respect to the core business processes, all the activities involved in researching, developing, and launching new high-quality offerings quickly and within budget are referred to as the ________.

a. new product process b. new offering realization process c. product development process d. product launch process e. return on investment process Answer: b Page: 38

Level of difficulty: Hard

18. With respect to the core business processes, the ________ is considered to be all the activities involved in defining target markets and prospecting for new customers.

a. b. c. d. e.

customer acquisition process customer relationship management process fulfillment management process customer prospecting process customer equity process Page: 38 Level of difficulty: Medium

Answer: a

19. A good way to describe the ________ would be discuss 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 e. customer equity process Answer: b Page: 38 Level of difficulty: Medium 20. 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. link to relationshi ps

e. supply chain Answer: e

Page: 39

Level of difficulty: Easy

21. The key to utilizing organizational core competencies is to ________ that make up the essence of the business. a. make the competencies pay for themselves b. own all intermediaries who come in contact with your goods and services c. own and nurture the resources and competencies d. emphasize global promotions e. segment workforces Answer: c Page: 39 Level of difficulty: Hard 22. We can say that a ________ has three characteristics: (1) It is a source of co

mpetitive advantage in that it makes a significant contribution to perceived customer benefits, (2) it has applications in a wide variety of markets, and (3) it is difficult for competitors to imitate. a. core competency b. business strategy c. core technology d. strategic business unit e. winning strategy Answer: a Page: 39 Level of difficulty: Medium 23. Core co

mpetencies tend to refer to areas of special technical and production expertise, where ________ tend to describe excellence in broader business processes. a. process benchmar ks

b. distinctive capabilities c. core business values d. value statements e. mission statements Answer: b Page: 40 Level of difficulty: Medium 24. George Day sees market-driven organizations as excelling in three distinctive capabilities: ________, customer linking, and channel bonding. a. target marketing b. market research c. fulfilling customer needs d. market sensing e. customer service relationshi ps

Answer: d 25. Co

Page: 40

Level of difficulty: Medium

mpetitors find it hard to imitate companies such as Southwest Airlines, Dell, or IKEA because they are unable to copy their ________. a. product innovations b. distribution strategy c. pricing policies d. activity systems e. logistics system Answer: d Page: 40 Level of difficulty: Hard 26. One conception of holistic marketing views it as integrating the value exploration, ________, and value delivery activities with the purpose of building long-term, mutually satisfying relationshi

ps and co-prosperity among key stakeholders. a. value creation b. value proposition c. value management

d. value research e. value chain Answer: a Page: 40

Level of difficulty: Hard

27. 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 e. inspecting all market share data Answer: b Page: 40 Level of difficulty: Medium 28. The holistic marketing framework is designed to address three key management questions. Which of the following is one of those questions?

a. Value claimshow does the company deal with value erosion? b. Value propositionhow can value propositions be made profitable? c. Value chainare there weak links in the companys value chain d. Value networkhow can a company effectively network? e. Value explorationhow can a company identify new value opportunities? Answer: e Page: 41 Level of difficulty: Hard 29. The customers ________ 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. relationship space e. cognitive space Answer: e Page: 41 30. The co

Level of difficulty: Medium

mpanys ________ can be described in terms of breadthbroad versus focused scope of business; and depthphysical versus knowledge-based capabilities. a. business mission b. core strategy c. cognitive space d. competency space e. resource space Answer: d Page: 41 Level of difficulty: Medium

31. The collaborators ________ involves horizontal partnershi

ps, where companies choose partners based on their ability to exploit related market opportunities, and vertical partnerships, where companies choose partners based on their ability to serve their value creation. a. resource space b. competency space c. cognitive space d. rational space e. service space Answer: a Page: 41 Level of difficulty: Medium 32. Business realig

nment may be necessary to maximize core competencies. Which of the following would be one of the steps in this realignment process? a. Reviewing all macro relationships. b. Reviewing global outreach projections. c. Redefining the business concept (the big idea). d. Reviewing successes from e-commerce (if any). e. Revamping the ethics statement. Answer: c Page: 41 Level of difficulty: Medium

33. ________ 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 e. Total quality management Answer: d Page: 41 Level of difficulty: Medium 34. To respond effectively and provide value delivery, the co

mpany 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

e. marketing management Answer: c Page: 41

Level of difficulty: Hard

35. 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 e. total quality management Answer: d Page: 41 Level of difficulty: Medium 36. 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 per ks

c. customer retention d. customer value e. customer benefits Answer: d Page: 41

Level of difficulty: Easy

37. According to a McKinsey 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 government. e. Being independent of the distribution process. Answer: b Page: 42 Level of difficulty: Medium 38. Strategic planning in the twenty-first century calls for action in three key areas. Which of these key areas deals specifically with devising a long-term game plan for achieving longrun objectives?

a. Creating a viable business opportunity. b. Producing a strategic fit.

c. Developing an investment portfolio. d. Expanding core competencies. e. Establishing a strategy. Answer: e Page: 42 39. Most large co

Level of difficulty: Medium

mpanies 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 e. strategic level Answer: d Page: 43 Level of difficulty: Easy 40. The ________ is the central instrument for directing and coordinating the marketing effort.

a. strategic plan b. marketing plan c. tactical plan d. customer value statement e. corporate mission Answer: b Page: 43

Level of difficulty: Medium

41. The ________ lays out the target markets and the value proposition that will be offered, based on an analysis of the best market opportunities.

a. organizational plan b. strategic marketing plan c. corporate tactical plan d. corporate mission e. customer value statement Answer: b Page: 43 42. In which of the following plans would we

Level of difficulty: Medium

most likely find directions for implementing and addressing daily challenges and opportunities in product features, promotion, merchandising, pricing, sales channels, and service areas. a. The tactical marketing plan. b. The target marketing plan. c. The deployment plan. d. The product launch plan. e. The product development plan.

Answer: a

Page: 43

Level of difficulty: Easy

43. If you wanted to find out

more about target markets and the organizations value proposition, which of the following types of plans would most likely contain information that might be useful to you in your quest? a. The marketing plan. b. The organizational plan. c. The strategic marketing plan. d. The tactical marketing plan. e. The marketing mix plan. Answer: c Page: 43 Level of difficulty: Medium 44. The ________ process consists of corporate, division, business, and product planning.

a. implementing b. controlling c. innovation d. planning e. competitive Answer: d Page: 44

Level of difficulty: Medium

45. All corporate headquarters undertake four planning activities, the first of which is ________.

a. defining the corporate mission b. establishing strategic business units and assigning resources (SBUs) c. assigning resources to each SBU d. assessing growth opportunities e. understanding target markets Answer: a Page: 44 Level of difficulty: Easy 46. A clear, thoughtful mission statement provides e

mployees with a shared sense of purpose, direction, and ________. a. profitability b. target market feasibility c. opportunity d. continuous improvement e. quality products Answer: c Page: 44 Level of difficulty: Medium 47. Mission statements are at their best when they reflect a ________.

a. market b. strength c. competency d. vision e. value Answer: d

Page: 44

Level of difficulty: Medium

48. Which of the following terms matches to the phrase it is a single business or collection of related businesses that can be planned separately from the rest of the co

mpany? a. Strategic business unit. b. Diverse business unit. c. Growth business unit. d. Niche market unit. e. Specialized business unit. Answer: a Page: 47

Level of difficulty: Easy

49. Market-penetration, product-development, and market-development strategies would all be exa

mples of ________ strategies. a. concentric b. conglomerate c. horizontal d. intensive growth e. integrative growth Answer: d Page: 48 50. A(n) ________ is when a co

Level of difficulty: Hard

mpany might seek new businesses that have no relationship to its current technology, products, or markets. a. concentric strategy b. conglomerate strategy c. horizontal strategy d. intensive growth strategy e. integrative strategy Answer: b Page: 49 Level of difficulty: Medium 51. Which of the following terms

most closely matches to the shared experiences, stories, beliefs, and norms that characterize an organization?

a. Organizational dynamics. b. A business mission. c. An ethical/value statement. d. Customer relationships. e. Corporate culture. Answer: e Page: 50

Level of difficulty: Medium

52. The first step in the business unit strategic-planning process deals with which of the following?

a. Goal formulation. b. Business mission. c. Strategy formulation. d. Program formulation. e. SWOT analysis. Answer: b Page: 51

Level of difficulty: Medium

53. When a business gets to know market segments intimately and pursues either cost leadership or differentiation within the target segment it is referred to as a ________.

a. defined strategy b. focused strategy c. value-added strategy d. competitive advantage strategy e. customer-focused strategy Answer: b Page: 56

Level of difficulty: Hard

54. If a firm pursues a ________ strategy, it must be good at engineering, purchasing, manufacturing, and physical distribution.

a. differentiation b. overall cost leadership c. focus d. domestic customer relationship e. market share Answer: b Page: 56

Level of difficulty: Medium

55. To keep their strategic alliances thriving, corporations have begun to develop organizational structures to support them and have come to view the ability to form and manage partnershi

ps as core skills. This is called ________. a. value managed partnership b. synergistic partnership

c. centralized partnership d. partner relationship management e. win-win relationship management Answer: d Page: 57 56. Traditionally,

Level of difficulty: Hard

most businesses focused on stockholders. Today, the focus is on what are called ________. a. stakeholders b. partners c. regulators d. consumer triads e. supply-chain relationshi ps

Answer: a Page: 58 Level of difficulty: Easy 57. A ________ is a written document that summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives. a. strategic plan b. marketing plan c. sales plan d. target market plan e. competitive analysis plan Answer: b Page: 60 Level of difficulty: Easy 58. Which of the following permits senior management to grasp the marketing plans major thrust?

a. The situation analysis. b. The marketing strategy. c. The executive summary and table of contents. d. Financial projections. e. Implementation and controls. Answer: c Page: 60 Level of difficulty: Medium 59. Most marketing plans cover ________.

a. b. c. d. e.

one year two years three years four years five years

Answer: a 60. The

Page: 60

Level of difficulty: Easy

most frequently cited shortcomings of current marketing plans, according to marketing executives, are lack of realism, insufficient competitive analysis, and a ________ focus. a. long-term b. profit c. short-run d. product e. price Answer: c Page: 60 Level of difficulty: Easy

Chapter 2 & 3 MCQ's : Marketing Management 13th edition by "Kotler" Chapter 2 : Developing Marketing Strategies & Plans

1. 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 e. niche Answer: a 2. According to a chapter story about H&M clothing stores, H&M is able to put products out quickly and inexpensively by all of the following EXCEPT ________. a. having few middlemen and owning no factories b. buying large volumes c. having extensive experience in the clothing industry d. having a great knowledge of which goods should be bought from which

markets e. having total control of its distribution channel from the time the goods are produced until the time they are sold Answer: e 3. The task of any business is to deliver ________ at a profit. a. customer needs b. products c. customer value d. products and services e. improved quality Answer: c 4. In a hyper competitive economy such as ours, a company can win only by fine-tuning the value delivery process and choosing, providing, and ________ superior value. a. communicating b. selecting target markets with c. composing d. developing e. researching Answer: a 5. The traditional view of marketing is that the firm makes something and then ________ it. a. markets b. sells c. distributes d. prices

e. services Answer: b 6. Today, the mass-market is actually splintering into numerous ________, each with its own wants, perceptions, preferences, and buying criteria. a. micro markets b. market targets c. macro markets d. customer cliques e. demographic units Answer: a 7. 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 e. projective thinking Answer: a 8. 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 e. researching

Answer: c 9. 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 e. zero marketing costs Answer: b 10. 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 e. supplier database Answer: a 11. The ________ identifies nine strategically relevant activities that create value and cost in a specific business. a. value proposition b. value chain c. mission statement d. annual report e. managers log Answer: b 12. The ________ in the value chain cover the sequence of bringing materials into the business (inbound logistics), converting them into final products

(operations), 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 e. tertiary activities Answer: c 13. 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 e. benchmark activities Answer: b 14. 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 e. moveable standards Answer: d 15. The firms 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 e. core technologies Answer: d 16. 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 e. deployment process Answer: a 17. With respect to the core business processes, all the activities involved in researching, developing, and launching new high-quality offerings quickly and within budget are referred to as the ________. a. new product process b. new offering realization process c. product development process d. product launch process e. return on investment process Answer: b 18. With respect to the core business processes, the ________ is considered to be all the activities involved in defining target markets and prospecting for new

customers. a. customer acquisition process b. customer relationship management process c. fulfillment management process d. customer prospecting process e. customer equity process Answer: a 19. A good way to describe the ________ would be discuss 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 e. customer equity process Answer: b 20. 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. link to relationships e. supply chain Answer: e 21. The key to utilizing organizational core competencies is to ________ that make up the essence of the business.

a. make the competencies pay for themselves b. own all intermediaries who come in contact with your goods and services c. own and nurture the resources and competencies d. emphasize global promotions e. segment workforces Answer: c 22. We can say that a ________ has three characteristics: (1) It is a source of competitive advantage in that it makes a significant contribution to perceived customer benefits, (2) it has applications in a wide variety of markets, and (3) it is difficult for competitors to imitate. a. core competency b. business strategy c. core technology d. strategic business unit e. winning strategy Answer: a 23. Core competencies tend to refer to areas of special technical and production expertise, where ________ tend to describe excellence in broader business processes. a. process benchmarks b. distinctive capabilities c. core business values d. value statements e. mission statements Answer: b 24. George Day sees market-driven organizations as excelling in three distinctive capabilities: ________, customer linking, and channel bonding.

a. target marketing b. market research c. fulfilling customer needs d. market sensing e. customer service relationships Answer: d 25. Competitors find it hard to imitate companies such as Southwest Airlines, Dell, or IKEA because they are unable to copy their ________. a. product innovations b. distribution strategy c. pricing policies d. activity systems e. logistics system Answer: d 26. One conception of holistic marketing views it as integrating the value exploration, ________, and value delivery activities with the purpose of building long-term, mutually satisfying relationship and co-prosperity among key stakeholders. a. value creation b. value proposition c. value management d. value research e. value chain Answer: a 27. 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 e. inspecting all market share data Answer: b 28. The holistic marketing framework is designed to address three key management questions. Which of the following is one of those questions? a. Value claimshow does the company deal with value erosion? b. Value propositionhow can value propositions be made profitable? c. Value chainare there weak links in the companys value chain d. Value networkhow can a company effectively network? e. Value explorationhow can a company identify new value opportunities? Answer: e 29. The customers ________ 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. relationship space e. cognitive space Answer: e 30. The companies ________ can be described in terms of breadthbroad versus focused scope of business; and depthphysical versus knowledge-based capabilities. a. business mission b. core strategy

c. cognitive space d. competency space e. resource space Answer: d 31. The collaborators ________ involves horizontal partnerships, where companies choose partners based on their ability to exploit related market opportunities, and vertical partnership, where companies choose partners based on their ability to serve their value creation. a. resource space b. competency space c. cognitive space d. rational space e. service space Answer: a 32. Business realignment may be necessary to maximize core competencies. Which of the following would be one of the steps in this realignment process? a. Reviewing all macro relationships. b. Reviewing global outreach projections. c. Redefining the business concept (the big idea). d. Reviewing successes from e-commerce (if any). e. Revamping the ethics statement. Answer: c 33. ________ 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 e. Total quality management Answer: d34. 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 e. marketing management Answer: c 35. 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 e. total quality management Answer: d 36. 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 per c. customer retention

d. customer value e. customer benefits Answer: d 37. According to a McKinsey 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 government. e. Being independent of the distribution process. Answer: b 38. Strategic planning in the twenty-first century calls for action in three key areas. Which of these key areas deals specifically with devising a long-term game plan for achieving long-run objectives? a. Creating a viable business opportunity. b. Producing a strategic fit. c. Developing an investment portfolio. d. Expanding core competencies. e. Establishing a strategy. Answer: e 39. 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

e. strategic level Answer: d 40. The ________ is the central instrument for directing and coordinating the marketing effort. a. strategic plan b. marketing plan c. tactical plan d. customer value statement e. corporate mission Answer: b 41. The ________ lays out the target markets and the value proposition that will be offered, based on an analysis of the best market opportunities. a. organizational plan b. strategic marketing plan c. corporate tactical plan d. corporate mission e. customer value statement Answer: b 42. In which of the following plans would we most likely find directions for implementing and addressing daily challenges and opportunities in product features, pro motion, merchandising, pricing, sales channels, and service areas. a. The tactical marketing plan. b. The target marketing plan. c. The deployment plan. d. The product launch plan. e. The product development plan.

Answer: a 43. If you wanted to find out more about target markets and the organizations value proposition, which of the following types of plans would most likely contain information that might be useful to you in your quest? a. The marketing plan. b. The organizational plan. c. The strategic marketing plan. d. The tactical marketing plan. e. The marketing mix plan. Answer: c 44. The ________ process consists of corporate, division, business, and product planning. a. implementing b. controlling c. innovation d. planning e. competitive Answer: d 45. All corporate headquarters undertake four planning activities, the first of which is ________. a. defining the corporate mission b. establishing strategic business units and assigning resources (SBUs) c. assigning resources to each SBU d. assessing growth opportunities e. understanding target markets Answer: a

46. A clear, thoughtful mission statement provides employees with a shared sense of purpose, direction, and ________. a. profitability b. target market feasibility c. opportunity d. continuous improvement e. quality products Answer: c 47. Mission statements are at their best when they reflect a ________. a. market b. strength c. competency d. vision e. value Answer: d 48. Which of the following terms matches to the phrase it is a single business or collection of related businesses that can be planned separately from the rest of the company? a. Strategic business unit. b. Diverse business unit. c. Growth business unit. d. Niche market unit. e. Specialized business unit. Answer: a 49. Market-penetration, product-development, and market-development strategies would all be examples of ________ strategies.

a. concentric b. conglomerate c. horizontal d. intensive growth e. integrative growth Answer: d 50. A(n) ________ is when a company might seek new businesses that have no relationship to its current technology, products, or markets. a. concentric strategy b. conglomerate strategy c. horizontal strategy d. intensive growth strategy e. integrative strategy Answer: b 51. Which of the following terms most closely matches to the shared experiences, stories, beliefs, and norms that characterize an organization? a. Organizational dynamics. b. A business mission. c. An ethical/value statement. d. Customer relationships. e. Corporate culture. Answer: e 52. The first step in the business unit strategic-planning process deals with which of the following? a. Goal formulation. b. Business mission.

c. Strategy formulation. d. Program formulation. e. SWOT analysis. Answer: b 53. When a business gets to know market segments intimately and pursues either cost leadership or differentiation within the target segment it is referred to as a ________. a. defined strategy b. focused strategy c. value-added strategy d. competitive advantage strategy e. customer-focused strategy Answer: b 54. If a firm pursues a ________ strategy, it must be good at engineering, purchasing, manufacturing, and physical distribution. a. differentiation b. overall cost leadership c. focus d. domestic customer relationship e. market share Answer: b 55. To keep their strategic alliances thriving, corporations have begun to develop organizational structures to support them and have come to view the ability to form and manage partnerships as core skills. This is called ________. a. value managed partnership b. synergistic partnership c. centralized partnership

d. partner relationship management e. win-win relationship management Answer: d 56. Traditionally, most businesses focused on stockholders. Today, the focus is on what are called ________. a. stakeholders b. partners c. regulators d. consumer triads e. supply-chain relationships Answer: a 57. A ________ is a written document that summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives. a. strategic plan b. marketing plan c. sales plan d. target market plan e. competitive analysis plan Answer: b 58. Which of the following permits senior management to grasp the marketing plans major thrust? a. The situation analysis. b. The marketing strategy. c. The executive summary and table of contents. d. Financial projections.

e. Implementation and controls. Answer: c 59. Most marketing plans cover ________. a. one year b. two years c. three years d. four years e. five years Answer: a 60. The most frequently cited shortcomings of current marketing plans, according to marketing executives, are lack of realism, insufficient competitive analysis, and a ________ focus. a. long-term b. profit c. short-run d. product e. price Answer: c

Your Results for: "True/False Questions"

Book Title: Marketing Management Book Author: Kotler/Keller/Cunningham Location on Chapter 2 > Concept Challenge Quiz

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Summary of Results
64% Correct of 11 Scored items:
7 Correct: 64%

Site: > True/False Questions Date/Time April 3, 2013 at 7:57 PM (UTC/GMT) Submitted:

4 Incorrect:

36%

More information about scoring

1.

The traditional view of the business process will not work in economies where people face abundant choices. Your Answer: False Correct Answer: True

Incorrect

2.

Nirmalya Kumar's "3 V's" approach to marketing include value defining processes, value developing processes, and value delivering processes. Your Answer: False

Correct

3.

Assessing growth opportunities involves planning new businesses, downsizing, or terminating older businesses. Your Answer: True

Correct

4.

An uncertainty theory analysis consists of developing plausible representations of a firm's possible future that make different assumptions about forces driving the market and include different uncertainties. Your Answer: False

Correct

5.

The seven steps in the business unit strategic planning process are business mission, goal formulation, strategy formulation, program formulation, implementation, feedback, and control. Your Answer: True

Correct

6.

Environmental threats in the upper left cell of the threat matrix are considered the most serious. Your Answer: True

Correct

7.

When McDonald's teams up with Disney to offer products related to a current Disney film as part of its meals for children, this is an example of a product or service alliance. Your Answer: True Correct Answer: False

Incorrect, this is a promotional alliance.

8.

In implementing strategy, companies have traditionally focused on their customers as major stakeholders. Your Answer: False

Correct

9.

A company's strategic fit with the environment will inevitably erode because the marketing environment changes faster than the company's. Your Answer: True

Correct

10.

Marketing plans are becoming more service oriented than in the past. Your Answer: True Correct Answer: False

Incorrect, customer and competitor oriented.

11.

According to Ansoff, the tactical marketing plan specifies the marketing tactics, while the strategic marketing plan lays out the target markets and the value proposition that will be offered. Your Answer: False Correct Answer: True

Incorrect

Your Results for: "Multiple Choice Questions"

Book Marketing Management, Canadian Title: Thirteenth Edition Book Kotler/Keller/Cunningham/Sivaramakrishn Author: an Location Chapter 2 > Concept Challenge Quiz > on Site: Multiple Choice Questions Date/Tim April 3, 2013 at 7:57 PM (UTC/GMT) e Submitted :

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Summary of Results
27% Correct of 11 Scored items:
3 Correct: 8 Incorrect: 27% 73%

More information about scoring

1.

The raw materials and manufacturing costs involved in making Nike sneakers are relatively cheap, but selling the product adds to the cost of a sneaker. This added cost to consumers is part of the _____. Your Answer: value delivery process

Correct

2.

The question "How can a company efficiently create more promising new value offerings?" describes which key management question addressed by the holistic marketing framework? Your Answer: value planning Correct Answer: value creation

value creation

3.

The manager of an independent toy manufacturer prepares a plan specifying all his marketing tactics including product features, promotion, merchandising, pricing, sales channels, and service. This plan is called _____. Your Answer: the marketing plan Correct Answer: the tactical marketing plan

the tactical marketing plan

4.

An elusive concept which some define as "the shared experiences, stories, beliefs, and norms that characterize an organization" is also known as _____. Your Answer: corporate culture

Correct

5.

The three main sources of market opportunities are _____. Your Answer: overseas markets; updating old products; and entering new markets Correct Answer: supplying something in short supply; supplying existing products in a superior way; and developing new products or services

supplying something in short supply; supplying existing products in a superior way; and developing new products or services

6.

Environmental threats are classified according to _____. Your Answer: attractiveness and probability of success Correct Answer: seriousness and probability of occurrence

seriousness and probability of occurrence

7.

Travelocity offers the most comprehensive range of services to travelers. This is an example of a company pursuing the _____ strategy of Porter's Generic Strategies. Your Answer: service Correct Answer: differentiation

differentiation

8.

The section in the marketing plan that presents relevant background data in the macro-environment is called _____. Your Answer: situation analysis

Correct

9.

The first three elements in a successful business practice are _____. Your Answer: staff; style; and shared values Correct Answer: strategy; structure; and systems

strategy; structure; and systems

10.

Strategy is only one of seven elements in successful business practice. The first three elements are considered the "_____" of success; the next four are the "_____."

Your Answer: opportunities; threats Correct Answer: hardware; software

hardware; software

11.

Companies are encouraged to define their business mission in terms of being market-oriented rather than product-oriented. Which of the following does not follow the guideline? Your Answer: We provide climate control in the house Correct Answer: We run a railroad

We run a railroad