Question 1

The most common form of marketing organization is the product management organization.

Accepted Answer

A) True 
 B)False

Question 2

The position of a strategic business unit in the growth-share matrix typically remains constant over time.

Accepted Answer

A) True 
 B)False

Question 3

A company's customer value delivery network does not include members external to the organization.

Accepted Answer

A) True 
 B)False

Question 4

Cosmetics firm SatinSilk is revamping its mission statement and advertising strategy.The CEO stresses that the new mission statement should be market-oriented rather than product-oriented.Which of the following mission statements will best suit the company?

Accepted Answer

A)   to create the best possible products and sell them at the best possible prices
B)   to sell hypoallergenic cosmetics products made only from the finest organic ingredients
C)   to give customers the complexion they dream about by providing products suited to their needs
D)   to become a market leader in every cosmetics product category
E)   to increase our market share in the cosmetics segment and increase profit marginsF) A) and E)
G) None of the above

Question 5

Which of the following best describes product positioning?

Accepted Answer

A)   differentiating a market offering to create superior customer value
B)   arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers
C)   identifying consumer needs and creating a product to meet those needs
D)   evaluating each market segment's attractiveness and selecting one or more segments to enter
E)   dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviorsF) C) and D)
G) A) and E)

Question 6

How do organizations carry out marketing control?

Accepted Answer

Marketing control is the process of eval...

Question 7

A ________ is made up of a company,its suppliers,its distributors,and its customers who partner with each other to improve the performance of the entire system.

Accepted Answer

A)   value chain
B)   shareholder network
C)   business portfolio
D)   value delivery network
E)   growth-share matrixF) B) and C)
G) None of the above

Question 8

BlueBear is a shoe manufacturer based in the United States.Which of the following indicates that the company is following a market development strategy?

Accepted Answer

A)   BlueBear introduces a line of children's clothing to its current target market.
B)   BlueBear employs a British comedian for a U.S. advertising campaign.
C)   BlueBear introduces its shoes in the Indian and South-East Asian markets.
D)   BlueBear adds a line of leather purses to its offerings in the U.S. market.
E)   BlueBear develops a line of athletic shoes for its current target market.F) B) and C)
G) B) and E)

Question 9

________ involves looking at whether a company's basic business models are well matched to its opportunities.

Accepted Answer

A)   Operating control
B)   Task control
C)   Agency control
D)   Strategic control
E)   Market controlF) A) and B)
G) D) and E)

Question 10

Marketing ROI is the net return from a marketing investment divided by the costs of the marketing investment.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following marketing measures can best be translated into dollar returns?

Accepted Answer

A)   brand loyalty
B)   advertising impact
C)   packaging effectiveness
D)   market share
E)   brand-building impactF) A) and D)
G) A) and E)

Question 12

Raintree Developers has been measuring its marketing return on investment (or marketing ROI)to assess its marketing performance for the past few years.Explain why this method may not accurately reflect the company's performance and what Raintree can use to better estimate its performance.

Accepted Answer

(Students' answers may vary.The answer g...

Question 13

In the marketing mix,place refers to activities that communicate the merits of a product and persuade target customers to buy it.

Accepted Answer

A) True 
 B)False

Question 14

A strategy for company growth that involves increasing sales to current market segments without changing the product is known as ________.

Accepted Answer

A)   market development
B)   market differentiation
C)   market penetration
D)   product development
E)   diversificationF) All of the above
G) A) and B)

Question 15

A company can assess marketing ROI in terms of standard marketing performance measures,such as brand awareness,sales,or market share.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following is true of marketing ROI?

Accepted Answer

A)   Marketing ROI uses only those marketing factors that can be measured in dollars.
B)   Marketing ROI ignores customer-centered measures of marketing impact, such as customer acquisition and retention.
C)   Marketing ROI is easier to calculate than financial ROI.
D)   Marketing ROI cannot be assessed in terms of standard marketing performance measures, such as brand awareness, sales, or market share.
E)   Marketing ROI measures the profits generated by investments in marketing activities.F) A) and B)
G) D) and E)

Question 17

In the BCG growth-share matrix,stars refer to products or businesses with a ________.

Accepted Answer

A)   low market share in a niche market
B)   low relative market share in a market with high growth prospects
C)   greater market share than all their competitors combined in a saturated market
D)   high market share in a market with a high growth rate
E)   high market share in a market that is set to shrink significantlyF) C) and E)
G) D) and E)

Question 18

Which of the following best describes market segmentation?

Accepted Answer

A)   differentiating a market offering to create superior customer value
B)   identifying consumer needs and creating a product to meet those needs
C)   arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers
D)   evaluating each market segment's attractiveness and selecting one or more segments to enter
E)   dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviorsF) None of the above
G) A) and D)

Question 19

A company's mission statement should most likely be ________.

Accepted Answer

A)   defined in terms of satisfying basic customer needs
B)   focused on the products and services the company sells
C)   defined by the profits the company strives to earn
D)   directed at the company's employees and not at its customers
E)   focused on the manufacturing technology that the company usesF) None of the above
G) B) and C)

Question 20

Which of the following statements is true in the context of the BCG growth-share matrix?

Accepted Answer

A)   Stars often need heavy investment to finance their rapid growth in a market.
B)   The positions of SBUs in the growth-share matrix rarely change over time.
C)   The income from one SBU cannot be used to support other business units.
D)   Dogs promise to be large sources of cash.
E)   Cash cows typically turn into stars.F) A) and D)
G) B) and C)

Exam 2: Company and Marketing Strategy: Partnering to Build Customer Relationships

Raintree Developers has been measuring its marketing return on investment (or marketing ROI)to assess its marketing performance for the past few years.Explain why this method may not accurately reflect the company's performance and what Raintree can use to better estimate its performance.

Correct Answerverified(Students' answers may vary.The answer g...View AnswerShow Answer

A company can assess marketing ROI in terms of standard marketing performance measures,such as brand awareness,sales,or market share.

Correct AnswerverifiedShow Answer

A company's mission statement should most likely be ________.

Correct AnswerverifiedShow Answer

Cosmetics firm SatinSilk is revamping its mission statement and advertising strategy.The CEO stresses that the new mission statement should be market-oriented rather than product-oriented.Which of the following mission statements will best suit the company?

Correct AnswerverifiedShow Answer

In the marketing mix,place refers to activities that communicate the merits of a product and persuade target customers to buy it.

Correct AnswerverifiedShow Answer

Which of the following best describes market segmentation?

Correct AnswerverifiedShow Answer

The position of a strategic business unit in the growth-share matrix typically remains constant over time.

Correct AnswerverifiedShow Answer

In the BCG growth-share matrix,stars refer to products or businesses with a ________.

Correct AnswerverifiedShow Answer

Which of the following marketing measures can best be translated into dollar returns?

Correct AnswerverifiedShow Answer

Which of the following best describes product positioning?

Correct AnswerverifiedShow Answer

Which of the following statements is true in the context of the BCG growth-share matrix?

Correct AnswerverifiedShow Answer

A strategy for company growth that involves increasing sales to current market segments without changing the product is known as ________.

Correct AnswerverifiedShow Answer

Marketing ROI is the net return from a marketing investment divided by the costs of the marketing investment.

Correct AnswerverifiedShow Answer

A ________ is made up of a company,its suppliers,its distributors,and its customers who partner with each other to improve the performance of the entire system.

Correct AnswerverifiedShow Answer

BlueBear is a shoe manufacturer based in the United States.Which of the following indicates that the company is following a market development strategy?

Correct AnswerverifiedShow Answer

A company's customer value delivery network does not include members external to the organization.

Correct AnswerverifiedShow Answer

The most common form of marketing organization is the product management organization.

Correct AnswerverifiedShow Answer

Which of the following is true of marketing ROI?

Correct AnswerverifiedShow Answer

How do organizations carry out marketing control?

Correct AnswerverifiedMarketing control is the process of eval...View AnswerShow Answer

________ involves looking at whether a company's basic business models are well matched to its opportunities.

Correct AnswerverifiedShow Answer

Correct Answer
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Marketing control is the process of eval...
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Correct Answer
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