Chapter 2 & 3 MCQ’s : Marketing Management 13th edition by “Kotler”

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.   creativeb.   measurablec.   macrod.   microe.   niche

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 factoriesb.   buying large volumesc.   having extensive experience in the clothing industryd.   having a great knowledge of which goods should be bought from which marketse.   having total control of its distribution channel from the time the goods are produced until the time they are sold

3. The task of any business is to deliver ________ at a profit.a.   customer needsb.   productsc.   customer valued.   products and servicese.   improved quality

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.   communicatingb.   selecting target markets withc.   composingd.   developinge.   researching

5. The traditional view of marketing is that the firm makes something and then ________ it.a.   marketsb.   sellsc.   distributesd.   pricese.   services 6. Today, the “mass-market” is actually splintering into numerous ________, each with its own wants, perceptions, preferences, and buying criteria.a.   micro marketsb.   market targetsc.   macro marketsd.   customer cliquese.   demographic units

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 valueb.   market researchc.   target marketingd.   service consideratione.   projective thinking 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.   developingb.   distributingc.   communicatingd.   reversinge.   researching

9. The Japanese have refined the value delivery process to include a component that emphasizes ________.a.   zero servicingb.   zero customer feedback timec.   zero promotiond.   zero dependency on intermediariese.   zero marketing costs 10. The ________ is a tool for identifying ways to create more customer value.a.   value chainb.   customer surveyc.   brand loyalty indexd.   promotion channele.   supplier database 11. The ________ identifies nine strategically relevant activities that create value and cost in a specific business.a.   value propositionb.   value chainc.   mission statementd.   annual reporte.   manager’s log

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 processb.   manufacturing processc.   primary activitiesd.   secondary activitiese.   tertiary activities  13. Procurement, technology development, human resource management, and firm infrastructure are handled in certain specialized departments and are called ________.a.   materials handlingb.   support activitiesc.   inventory activitiesd.   primary activitiese.   benchmark activities

14. The firm should estimate its competitors’ costs and performances as ________ against which to compare its own costs and performance.a.   competitionb.   standardsc.   challengesd.   benchmarkse.   moveable standards

15. 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 strategiesb.   satellite businessesc.   core valuesd.   core business processese.   core technologies 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 processb.   market research processc.   target marketing processd.   market pulse processe.   deployment process

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 processb.   new offering realization processc.   product development processd.   product launch processe.   return on investment process

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 processb.   customer relationship management processc.   fulfillment management processd.   customer prospecting processe.   customer equity process

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 processb.   customer relationship management processc.   customer prospecting processd.   customer fulfillment management processe.   customer equity process  20. Another way to describe a value delivery network (partnering with specific suppliers and distributors) is to call it a ________.a.   teamwork groupb.   cabalc.   domestic power centerd.   link to relationshipse.   supply chain  21. The key to utilizing organizational core competencies is to ________ that make up the essence of the business.a.   make the competencies pay for themselvesb.   own all intermediaries who come in contact with your goods and servicesc.   own and nurture the resources and competenciesd.   emphasize global promotionse.   segment workforces

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 competencyb.   business strategyc.   core technologyd.   strategic business unite.   winning strategy

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 benchmarksb.   distinctive capabilitiesc.   core business valuesd.   value statementse.   mission statements

24. George Day sees market-driven organizations as excelling in three distinctive capabilities: ________, customer linking, and channel bonding.a.   target marketingb.   market researchc.   fulfilling customer needsd.   market sensinge.   customer service relationships

25. Competitors find it hard to imitate companies such as Southwest Airlines, Dell, or IKEA because they are unable to copy their ________.a.   product innovationsb.   distribution strategyc.   pricing policiesd.   activity systemse.   logistics system

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 creationb.   value propositionc.   value managementd.   value researche.   value chain  27. Holistic marketers achieve profitable growth by expanding customer share, ________, and capturing customer lifetime value.a.   undermining competitive competenciesb.   building customer loyaltyc.   milking the market for product desiresd.   renewing a customer basee.   inspecting all market share data

28. The holistic marketing framework is designed to address three key management questions. Which of the following is one of those questions?a.   Value claims—how does the company deal with value erosion?b.   Value proposition—how can value propositions be made profitable?c.   Value chain—are there weak links in the company’s value chaind.   Value network—how can a company effectively network?e.   Value exploration—how can a company identify new value opportunities? 29. The customer’s ________ reflects existing and latent needs and includes dimensions such as the need for participation, stability, freedom, and change.a.   competence spaceb.   resource spacec.   emotional spaced.   relationship spacee.   cognitive space

30. The companies ________ can be described in terms of breadth—broad versus focused scope of business; and depth—physical versus knowledge-based capabilities.a.   business missionb.   core strategyc.   cognitive spaced.   competency spacee.   resource space

31. The collaborator’s ________ 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 spaceb.   competency spacec.   cognitive spaced.   rational spacee.   service space

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.

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 managementb.   Strategic managementc.   Marketing managementd.   Customer relationship managemente.   Total quality management

34. 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 managementb.   internal auditing managementc.   internal resource managementd.   strategic managemente.   marketing management

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 matrixb.   a global distribution policyc.   a business development strategyd.   business partnership managemente.   total quality management 36. Successful marketing requires having capabilities such as understanding ________, creating customer value, delivering customer value, capturing customer value, and sustaining customer value.a.   customer loyaltyb.   customer perc.   customer retentiond.   customer valuee.   customer benefits 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.  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. 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 levelb.  major stakeholder levelc.  management team leveld.  corporate levele.  strategic level 40. The ________ is the central instrument for directing and coordinating the marketing effort.a.   strategic planb.   marketing planc.   tactical pland.   customer value statemente.   corporate mission

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 planb.   strategic marketing planc.   corporate tactical pland.   corporate missione.   customer value statement 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.  43. If you wanted to find out more about target markets and the organization’s 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.   44. The ________ process consists of corporate, division, business, and product planning.a.   implementingb.   controllingc.   innovationd.   planninge.   competitive 45. All corporate headquarters undertake four planning activities, the first of which is ________.a.  defining the corporate missionb.  establishing strategic business units and assigning resources (SBUs)c.  assigning resources to each SBUd.  assessing growth opportunitiese.  understanding target markets

46. A clear, thoughtful mission statement provides employees with a shared sense of purpose, direction, and ________.a.  profitabilityb.  target market feasibilityc.  opportunityd.  continuous improvemente.  quality products

47. Mission statements are at their best when they reflect a ________.a.   marketb.   strengthc.   competencyd.   visione.   value

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.

49. Market-penetration, product-development, and market-development strategies would all be examples of ________ strategies.a.   concentricb.   conglomeratec.   horizontald.   intensive growthe.   integrative growth 50. A(n) ________ is when a company might seek new businesses that have no relationship to its current technology, products, or markets.a.   concentric strategyb.   conglomerate strategyc.   horizontal strategyd.   intensive growth strategye.   integrative strategy

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.  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. 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 strategyb.  focused strategyc.  value-added strategyd.  competitive advantage strategye.  customer-focused strategy 54. If a firm pursues a ________ strategy, it must be good at engineering, purchasing, manufacturing, and physical distribution.a.  differentiationb.  overall cost leadershipc.  focusd.  domestic customer relationshipe.  market share

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 partnershipb.   synergistic partnershipc.   centralized partnershipd.   partner relationship managemente.   win-win relationship management

56. Traditionally, most businesses focused on stockholders. Today, the focus is on what are called ________.a.   stakeholdersb.   partnersc.   regulatorsd.   consumer triadse.   supply-chain relationships

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 planb.   marketing planc.   sales pland.   target market plane.   competitive analysis plan

58. Which of the following permits senior management to grasp the marketing plan’s 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.

59. Most marketing plans cover ________.a.   one yearb.   two yearsc.   three yearsd.   four yearse.   five years

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-termb.  profitc.  short-rund.  producte.  price

 

Chapter 3 : Gathering Information and Scanning The Environment

1- A marketing intelligence system is a set of procedures and sources managers use to obtain _________.• forecasts about future sales• everyday information about developments in the marketing environment• past trends in the industry• insights into why things are occurring in the marketing environment• information about competitors offerings in the next quarter2- A fad is _________.• predictable, short-lived, and without social, economic and political significance• unpredictable, short-lived, and without social, economic and political significance• a direction or sequence of events that has some momentum and durability• a direction or sequence of events that has no momentum or durability• a large social, economic, political, and technological change3- A trend is _________.• predictable, short-lived, and without social, economic and political significance• unpredictable, short-lived, and without social, economic and political significance• a direction or sequence of events that has some momentum and durability• a direction or sequence of events that has no momentum and durability• a large social, economic, political, and technological change4- A megatrend is _________.• predictable, short-lived, and without social, economic and political significance• unpredictable, short-lived, and without social, economic and political significance• a direction or sequence of events that has some momentum and durability• a direction or sequence of events that has no momentum and durability• a large social, economic, political, and technological change that is slow to form5- According to the 2000 Census, approximately _________ percent of Americans were white.• 40%• 50%• 70%• 80%• 90%6- _________ shapes the beliefs, values, and norms that largely define tastes and preferences.• Nature• Environment• Family• Society• Religion7- A subculture consists of _________.• persistent cultural swings• beliefs passed on from parents to children and reinforced by major social institutions• groups with shared values, beliefs, preferences, and behaviors.• individuals with varying needs• the society as a whole8- The _________ environment is composed of laws, government agencies, and pressure groups.• political-legal• socio-cultural• economic• demographic• technological9- _________ has three main purposes: to protect companies from unfair competition, to protect consumers from unfair business practices, and to protect the interests of society from unbridled business behavior.• Business legislation• Society• Culture• Government• The FDA 10- An organized movement of citizens and government to strengthen the rights and powers of buyers is called _________.• business legislation• the consumerist movement• relationship marketing• organized consumers• competitive edge