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Liberty Busi520 quiz 1




Question;Question 1Industry boundaries are blurring rapidly as companies identify new opportunities at the intersection of two or more industries. This is called ________.globalizationcustomizationindustry convergencedisintermediationprivatization2 points Question 2Which of the following reflects the "people" component of the marketing mix?the creativity, discipline, and structure brought to marketing managementthe development of new products by the marketersthe firm's consumer-directed activitiesthe right set of processes to guide activities and programs within the firmthe internal marketing of the firm2 points Question 3A social definition of marketing says ________.effective marketing requires companies to remove intermediaries to achieve a closer connection with direct consumersa company should focus exclusively on achieving high production efficiency, low costs, and mass distribution to facilitate the broadest possible access to the company's productsmarketing is the process by which individuals and groups obtain what they need and want through creating, offering, and freely exchanging products and services of value with othersmarketing is the process of extracting the maximum value from consumers to facilitate corporate growthmarketing is the process of aggressive selling and promotion to encourage the purchase of products that might otherwise be unsought by the consumer2 points Question 4Sales of woollen clothing usually increase during the winter season and decline thereafter. This is an example of ________ demand.irregulardecliningimpulselatentnegative2 points Question 5Financial accountability and social responsibility marketing are elements of ________.performance marketingrelationship marketinginternal marketingsocial marketingmass marketing2 points Question 6Which aspect of holistic marketing motivates employees and ensures that everyone in the organization embraces appropriate marketing principles, especially senior management?relationship marketingintegrated marketinginternal marketingnetwork marketingperformance marketing2 points Question 7________ activities include those the company undertakes to make the product accessible and available to target customers.Line extensionSegmentationMarketing researchChannelNew-product development2 points Question 8Disintermediation via the Internet has resulted in ________.higher pricesstronger brand loyaltygreater emphasis on personal sellingwell-established brand namesgreater consumer buying power2 points Question 9If a marketer uses warehouses, transportation companies, banks, and insurance companies to facilitate transactions with potential buyers, the marketer is using a ________.service channeldistribution channelcommunication channelrelationship channelstandardized channel2 points Question 10The identification and profiling of distinct groups of buyers who might prefer or require varying product and service mixes is known as ________.segmentationintegrationdisintermediationcross-sellingcustomization2 points Question 11Value delivery process can be divided into three phases, out of which "choosing the value" implies _______, which is the essence of strategic marketing.segmentation, developing, and deliveringtargeting, positioning, and communicatingtargeting, positioning, and deliveringsegmentation, targeting, and positioningresearching, developing, and delivering2 points Question 12Which of the following elements of a marketing plan permits senior management to grasp the plan's major thrust?the situation analysisthe marketing strategythe executive summarythe financial projectionsthe short-term targets2 points Question 13A company that seeks to increase its sales and profits through backward, forward, or horizontal integration within the industry is said to be employing a(n) ________ strategy.diversification growthintensive growthtarget growthintegrative growthconglomerate growth2 points Question 14Most large companies consist of four organizational levels: the corporate level, the ________, the business unit level, and the product level.board of director levelmajor stakeholder levelmanagement team leveldivision levelstrategic level2 points Question 15If you were the CEO of a company that was looking to implement strategies to fill a perceived strategic-planning gap, you would most likely explore ________ strategy first because it is easier to improve an existing business than to build a new points Question 16MasterCard and Visa may team up with university alumni associations to offer affinity credit cards that typically display an iconic image associated with the university on the card itself and may include an incremental donation program associated with purchases made using the card. The best description of this form of alliance would be a ________.product alliancelogistics alliancepricing collaborationnetwork alliancepromotional alliance2 points Question 17A strategic-planning gap can be corrected by ________.changing the company's missionadjusting its core valueschoosing integrative growth strategiesredefining organizational cultureincreasing resource use2 points Question 18The marketing plan,the central instrument for directing and coordinating the marketing effort, operates at ________ levels.functional and operationalstrategic and tacticalcorporate and operationalcustomer and expenditurecorporate and division2 points Question 19Gerber primarily serves the baby food market. In choosing to focus on this market, Gerber is defining its competitive sphere on the basis of ________.vertical segmentationbackward integrationmarket segmentationdiversificationdifferentiation2 points Question 20Another way to describe a supply chain, where companies partner with specific suppliers and distributors to ensure a smooth functioning of the system, is to call it a ________.teamwork grouphorizontal integrationdomestic power centervalue explorationvalue delivery network2 points Question 21People vary in their views of society and their consumption patterns often reflect their social attitudes. ________ are a major market for movies, music, surfing, and camping.MakersPreserversEscapersChangersDevelopers2 points Question 22The sales goal set for a product line, company division, or sales representative of an organization is called ________.sales budgetcompany sales forecastsales quotacompany sales potentialmarket potential2 points Question 23Which of the following is true about trends in worldwide population growth?Birthrates are on the rise in developed countries.Overall, the world population growth is declining.Birthrates are on the rise in developing countries.Death rates are rising in developing countries.Population growth is highest in developing countries.2 points Question 24________ projects the next period's sales by combining an average of past sales and the most recent sales, giving more weight to the latter.Timeseries analysisStatistical demand analysisEconometric analysisCost effectiveness analysisExponential smoothing2 points Question 25Timeseries analysis method of forecasting sales breaks past time series into four components- trend, cycle, seasonal, and ________.regularannualerraticrecurringperiodic2 points Question 26The base sales of an organization that takes place even without any demand-stimulating expenditures is called ________.primary demandmarket potentialmarket minimumoptimum demandmarket demand2 points Question 27A growing population does not mean growing markets unless ________.the people are under a democratic system of governmentthere is common ownership of all resourcespeople have sufficient purchasing powerthere is adequate governmental intervention in the marketthe government has a budget surplus2 points Question 28The internal records system supplies resultsdata, but the marketing intelligence system supplies ________ data.internalrevenuethematichappeningsprocess2 points Question 29________ is the sales limit approached by company demand as company marketing effort increases relative to that of competitors.Sales budgetMarket demandCompany demandCompany sales potentialMarket potential2 points Question 30The company's marketing information system should be a mix of what managers think they need, what managers really need, and ________.what the marketing research department is able to dowhat consumers are willing to consumewhat the government policies allowwhat is acceptable at the industry levelwhat is economically feasible2 points Question 31A company would like to study the impact of advertising expenditure on sales and sales revenue. This is an example of ________ research.prescriptivecausalsecondaryexploratoryqualitative2 points Question 32The question "What is your opinion of the measures taken by the government to control inflation?" is an example of a ________ question.semantic differentialword associationcompletely unstructuredstory completiondichotomous2 points Question 33In which of the following types of tests is a picture presented and respondents are asked to make up a story about what they think is happening or may happen in the picture?visual perception testRorschach Ink-blot Teststory completion testThematic Apperception TestRenfrew Action Picture Test2 points Question 34Which of the following is an internal marketing metric that companies need to monitor?market shareconsumer satisfactionrelative perceived qualitytotal number of customersrelative employee satisfaction2 points Question 35"Truancy should be checked in schools: 1) Strongly disagree, 2) Disagree, 3) Neither agree nor disagree, 4) Agree, 5) Strongly agree." This is an example of a ________.Likert scalesemantic differentialmultiple choice questionThematic Appreciation Test (TAT)dichotomous question2 points Question 36The goal of ethnographic research is to ________.capture cause-and-effect relationships by eliminating competing explanations of the observed findingsunderstand consumers' behavior by observing a sample groups discussing various topics of interest at lengthstudy demographic variables such as age, gender, income, education, and so on, in relation to consumer buying patternsanalyze customers' purchasing behavior through catalog purchases and customer databasesimmerse the researcher into consumers' lives to uncover unarticulated desires that might not surface in any other form of research2 points Question 37London Business School's Tim Ambler believes the evaluation of marketing performance can be split into two parts: ________.long-term results and changes in brand equityshort-term results and changes in brand equitylong-term results and changes in consumer perceptionsshort-term results and changes in profitabilitychanges in market share and changes in profitability2 points Question 38________ are a structured way to disseminate the insights gleaned from the two complementary approaches to measuring marketing productivity within the organization.Marketing metricsMarketing decision support systemsMarketing dashboardsMarketing segmentsMarketing mix models2 points Question 39Which of the following rules must be kept in mind while framing a questionnaire?Use broad and loosely defined words in the questions.Avoid using response bands.Ensure that fixed responses overlap.Frame hypothetical questions.Allow for the answer "other" in fixed-response questions.2 points Question 40When the marketers of a mobile phone manufacturing company want to determine the impact of individual media such as television and online display ads on sales as well as that of trade activities like every day low price, off-shelf display and so on, they usually use metricsmarket segmentation strategiesmarket capitalization techniquesmarket basket analysismarketing-mix models2 points Question 41Companies provide rewards to customers who buy often and in substantial amounts. These reward schemes are referred to as ________.benefit programsfrequency programssatisfaction programsprofitability programsquality programs2 points Question 42Which of the following is the first step in customer value analysis?Examine how customers in a specific segment rate the company's performance.Assess the company's and competitors' performances on the different customer values against their rated importance.Identify the major attributes and benefits that customers value.Monitor customer values over time.Assess the quantitative importance of the different attributes and benefits.2 points Question 43________ is the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs.PerformanceValueQualityCustomer retentionCustomer loyalty2 points Question 44Club membership programsthat are open to everyone who purchases a product or service ________.are more powerful long-term loyalty builders than limited-membership clubs.will not help a company attract customers from competitorsprevent those with only a fleeting interest in a company's products from joiningare useful for building a database of customers but are not very good as long-term loyalty buildersare useless unless there are fees and membership conditions2 points Question 45In which of the following cases is building a database worthwhile for the company?Clare's creates personalized sculptures for special occasions.Sales of Clarity soap have fallen over the past few months in all regions.2Wheels sells its most profitable products to repeat customers.Uncle Jim's sells its range of snacks in stores throughout the country.Ready-to-wear clothes brand Zeep targets the teen and tween market throughout the U.S.2 points Question 46A customer touch point for Abacus Airlines would be an item such as ________.ease of access to the airporta mechanic's ability to service the airplanesthe reservations deskthe value of air travel versus surface transportationcompetency of a travel agent2 points Question 47The final step of customer value analysis is to ________.identify the major attributes and benefits that customers valueassess the company's and competitors' performances on the different customer values against their rated importanceexamine how customers in a specific segment rate the company's performancemonitor customer values over timeassess the quantitative importance of the different attributes and benefits2 points Question 48The 80-20 rule reflects the idea that ________.20% of the company's profits are generated by the top 80% of customersthe top 20% of customers are highly satisfied and 80% of customers will recommend the company to a friend20% of customers are unprofitable, and 80% make up a company's profitsthe top 20% of customers often generate 80% of the company's profitsany new product will be accepted by 20% of the customers immediately, but 80% of the customers will be up for grabs throughout the product's life cycle2 points Question 49________ is the difference between the prospective customer's evaluation of all the benefits and all the costs of an offering and the perceived alternatives.Perceived usefulnessFailure avoidance rateTotal customer benefitCustomer-perceived valueCompetitors' market share rate2 points Question 502Wheels conducts exhaustive customer surveys to discover customer preferences and attitudes towards the brand. Sally uses cluster analysis to classify the data and help the company determine the trends in the information. Sally is using the technique of managementdata marketingdata governancedata accumulationdata mining


Paper#46884 | Written in 18-Jul-2015

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