marketing management

Topic: marketing management
Paper instructions:
Chapter 1 – Defining Marketing for the Twenty-First Century

1. Marketing __________ is the art and science of choosing target markets and getting, keeping, and growing customers
through creating, delivering, and communicating superior customer value.
a. internally
b. management
c. segmentation
d. training
e. integration

2. The computer __________ consists of the manufacturers of computer memory chips, monitors, keyboards, coaxial
cables, modems, software, storage systems (disks, hard drives, portable USB media), and those who install, repair, and
maintain systems and software.
a. marketplace
b. macromarket
c. metamarket
d. marketspace
e. micromarket

3. Which is true?
a. Marketers create needs.
b. A person’s need for food or shelter is a creation of marketers.
c. Wants become needs when they are directed at specific objects that might satisfy the want.
d. Needs pre-exist marketers.
e. Demand strictly means desire for some object.

4. __________ is a combination of quality, service, and price.
a. The customer value triad
b. The consumer cost-benefit ratio
c. A customer satisfaction level
d. Price-setting
e. Benefit evaluation

5. Which of the following is a part of the distribution channel for a producer of bottled water?
a. The toll-free number it uses for customer orders.
b. The print media that runs its advertisements.
c. The retail store where bottled water is sold.
d. The bank where it borrowed the money to purchase its filtration system.
e. The insurance company that insures the company in the event of litigation.

6. Intel, one of the largest producers of integrated circuit chips, puts a great deal of effort into expanding production of
chips to drive down the cost and thus expand the market. This is most indicative of the __________ concept.
a. production
b. product
c. customer
d. marketing
e. societal

MKTG 649, Spring 2011, Exam I Review Questions – Page 2 of 12
7. Which of the following represents the product concept?
a. Selling more products will allow for lower production costs and higher profits.
b. It is both a proactive and a reactive form of marketing.
c. It is a customer-centered, “sense and respond” philosophy.
d. Consumers, if left alone, will not buy enough of the organization’s product.
e. A better mousetrap will lead people to beat a path to the marketer’s door.

8. The holistic marketing concept rests on which four sets of forces?
a. product, price, promotion, and place
b. products, integrated marketing, sales volume, and competition
c. customer needs, competition, sales volume, and profit
d. internal marketing, socially responsible marketing, integrated marketing, and relationship marketing
e. customer needs, target market, integrated marketing, and profitability

9. When Caitlin Peterson began OldeTowne Spice Company, she had one product, an all-purpose seasoning mix called
OldeTowne Special Blend for adding flavor to bland casseroles. She sold 5.5-ounce bottles of her seasoning mix for $6.95.
Her only outlets were booths at craft fairs throughout the Northeast. She relied on word-of-mouth advertising and a few
feature articles in regional newspapers to tell people about her product. The above describes OldeTowne Spice Company’s
__________.
a. method of exchange
b. transaction marketing
c. marketing tactics
d. marketing mix
e. transfer marketing

10. A complement to the 4 P’s has been proposed that centers on four customer dimensions. It is known as SIVA which
stands for __________.
a. standards, innovation, value, access
b. status, innovation, volume, access
c. solution, information, value, access
d. status, information, volume, accepting
e. solution, innovation, value, accepting

11. The __________ holds that the organization’s task is to determine the needs, wants, and interests of target markets so it
can satisfy customers more effectively and efficiently than competitors in a way that preserves or enhances the consumer’s
and the society’s long-term well-being.
a. customer is king concept
b. societal marketing concept
c. holistic marketing concept
d. comparative advantage concept
e. SWOT concept

Mini-Case 1-1

S. Truett Cathy entered the restaurant business in 1943. In 1964 he introduced his first Chick-fil-A sandwich. In 1998 he
owned 826 Chick-fil-A restaurants in 35 states and South Africa with an additional 92 stores set to open in 1999. Cathy was
never the type of entrepreneur who wanted to run an idea up the flagpole and see who saluted it. He will not open a new
restaurant unless he is convinced the enterprise will be a success. He will not consider taking the company public even
though it would be worth an estimated three-quarters of a billion dollars if it went public. Cathy’s philosophy is, “We
started Chick-fil-A, we built it, and we own it. Yes, we have thousands of allies, friends, partners, and employees. But it we
want to maintain the quality, the integrity, and the whole culture of our company, we’ve got to own it.”

12. Refer to Mini-Case 1-1. Which of the following would be a part of Chick-fil-A’s task environment?
a. its’ target customers
b. development of database marketing
c. laws governing cleanliness standards in the restaurant kitchens
d. consumer desire for low-fat food
e. demographic trends that show the U.S. population moving south and west

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13. Refer to Mini-Case 1-1. The allies, friends, partners, and employees that Cathy refers to are examples of __________
with whom Chick-fil-A has built mutually profitable business relationships.
a. stockholders
b. transaction partners
c. reciprocal agents
d. stakeholders
e. business networks

Mini-Case 1-2

In 1996, Target Corporation (then called Dayton-Hudson) decided that it would no longer sell tobacco products, giving up a
very profitable line for them at the time. Liability and corporate responsibility were cited as the reasons for this move.

14. Refer to Mini-Case 1-2. Which component of the broad environment likely had the most impact on Target’s decision to
delete tobacco products from its product line-up?
a. demographic environment
b. political-legal environment
c. task environment
d. natural environment
e. manufacturing environment
Chapter 2 – Developing and Implementing Marketing Strategies and Plans

1. The traditional view of marketing is that a firm makes something and then sells it. In this view, marketing takes place in
the second half of the process. Companies that subscribe to this view have the best chance of succeeding __________.
a. in highly competitive markets
b. in economies marked by goods shortages where customers are not fussy about quality
c. where consumers have plenty of choices of high quality and competitively-priced goods
d. against competitors who carefully define their target markets and position their offerings accordingly
e. in a marketplace where many micro niche products are available

2. In the Value Creation and Delivery Sequence, the first phase involves “choosing the value.” In this strategic marketing
process, the firm must do the marketing homework of __________.
a. segmenting the market, targeting a customer group, and positioning the offering
b. understanding the customer through market research
c. providing the proper product mix to the relevant retailers
d. measuring success or failure and feeding that knowledge back to the planners
e. setting a price that provides the proper perceived value to the final consumer

3. The third task in the Value Creation and Delivery Sequence is called __________. It involves utilizing the sales force,
advertising, sales promotion, and other tools to announce and promote the product.
a. choosing the value
b. communicating the value
c. entering the consumer’s zone
d. doing the homework
e. providing the value

4. Which of the following is NOT considered a support activity in Porter’s Value Chain?
a. firm infrastructure
b. human resource management
c. procurement
d. technology development
e. outbound logistics

5. In the first half the 20th century, Ford Motor Company owned rubber plantations in Brazil to supply itself with raw
materials for tire making. At some point, Ford began to buy all tires from outside vendors, and put more energy and focus
on making the vehicles themselves. This is an example of _________.

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a. the value chain
b. fulfillment management
c. outsourcing
d. portfolio balancing
e. inbound logistics

6. Bernardo Sampson has a restaurant in Bullhead City, Arizona that makes the best cheesesteak sandwich in the West,
according his well-traveled customers. According to Bernardo, the key is controlling the meat preparation process and
making his own bread from an old family recipe. Other inputs to the business, such as vegetable supplies, kitchen
equipment, and in some ways, employees, are less important to creating the best sandwiches. The meat preparation and
homemade bread could be considered Bernardo’s _________.
a. outsourcing genius
b. less critical resources
c. holistic marketing effort
d. core competency
e. outbound logistics

7. Ethikos Research seeks clients for its marketing research services. Firms that hire Ethikos are engaging in part of the
__________, one of the five core business processes.
a. market sensing process
b. strategic support process
c. marketspace acquisition process
d. customer relationship management process
e. fulfillment marketing process

8. Blind Bill makes custom window treatments and sells exclusively to commercial homebuilders. CEO William Learned
III often follows site finish managers around onsite to see how the customers view the products and to strengthen the
partnership he feels he has with them. Learned’s goal is to improve the company’s offerings. In the holistic marketing
framework, this type of activity would be called _________.
a. core competency strengthening
b. value exploration
c. value creation
d. value fulfillment
e. value delivery

9. The late business guru Peter Drucker asked all of the following questions about defining an organization’s mission,
EXCEPT:
a. What should our business be?
b. What will our business be?
c. What is our business?
d. Who is our customer?
e. What has the business been?

10. Which of the following is an example of a competence sphere?
a. Dell Computer defines the range of products and applications they will supply.
b. Saab decides to compete in both sport sedan and sport utility segments but not in minivan and truck segments.
c. A private equity firm decides to purchase a raw materials manufacturer as well as the corresponding finished goods
company.
d. NEC has identified capabilities in computing, communications, and components to support laptop computer production.
e. Starbucks select new countries to expand their business.

11. Russ Clark, a NAPA auto parts dealer, bought out a competitor’s store. This is an example of _________.
a. market penetration
b. backward integration
c. horizontal diversification
d. conglomerate diversification
e. horizontal integratio

 

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