Test Bank CH 2

Question 1

1) ________ is the process of developing and maintaining a crucial fit between the organization’s goals and capabilities and its changing marketing opportunities.
A) Benchmarking
B) SWOT analysis
C) Market segmentation
D) Strategic planning
E) Diversification

Answer 1

D

Question 2

2) Which of the following is true with regard to strategic planning?
A) At the corporate level, the company starts the strategic planning process by determining what portfolio of businesses and products is best for the company.
B) A strategic plan deals with a company’s short-term goals.
C) The focus of strategic planning is to define a game plan for long-run survival and growth.
D) The strategic plan is a statement of an organization’s purpose.
E) Strategic planning involves identifying segments of consumers with identical preferences.

Answer 2

C

Question 3

3) Which of the following is the first step in strategic planning?
A) setting short-term goals
B) developing the business portfolio
C) defining the organizational mission
D) formulating the key marketing strategies
E) identifying the organization’s weaknesses and the threats it faces

Answer 3

C

Question 4

4) Which of the following is NOT a step in the strategic planning process?
A) defining the company mission
B) setting company objectives and goals
C) designing the business portfolio
D) planning marketing and other functional strategies
E) evaluating members of the company’s value chain

Answer 4

E

Question 5

5) A ________ documents an organization’s purpose—what it wants to accomplish in the larger environment.
A) vision statement
B) mission statement
C) business portfolio
D) value proposition
E) product strategy

Answer 5

B

Question 6

6) Mission statements should ________ and be defined in terms of ________.
A) be technology oriented; meeting the self-actualization needs of customers
B) be product oriented; satisfying the esteem needs of customers
C) embody the company’s short-term plans; current opportunities
D) be market oriented; satisfying basic customer needs
E) address sales and profits; the net return on investments

Answer 6

D

Question 7

7) A mission statement serves as a ________.
A) statement of the organization’s net profits
B) plan for short-term sustainability
C) statement of the organization’s purpose
D) statement of the organization’s current liabilities
E) reward plan for the organization’s highly skilled employees

Answer 7

C

Question 8

8) Which of the following is NOT a market-oriented business definition?
A) “We empower customers to realize their dreams.”
B) “We make high-quality consumer food products.”
C) “We sell success and status.”
D) “We create the Hilton experience.”
E) “We bring innovation to every home.”

Answer 8

B

Question 9

9) Companies that define their missions in terms of products or technologies are considered myopic primarily because ________.
A) products and technologies result in low returns on investment
B) consumer preferences with regard to products and technology are difficult to predict
C) consumer preferences for different product categories vary from time to time
D) products and technologies eventually become outdated
E) most consumers are not comfortable using sophisticated technology during the buying process

Answer 9

D

Question 10

10) Mission statements should be defined in terms of ________.
A) the advantages a company’s products provide
B) satisfying basic customer needs
C) the value a company’s products provide
D) the profitability of a company’s products
E) the variety they offer to a customer

Answer 10

B

Question 11

11) Orion Inc. operates in many industries, including pharmaceuticals and food products. The company’s goal is to create “abundant and affordable food for all and a healthy environment.” This represents Orion’s ________.
A) marketing plan
B) product mix
C) business portfolio
D) marketing mix
E) mission statement

Answer 11

E

Question 12

12) A company’s broad mission leads it to develop all of the following EXCEPT ________.
A) budget objectives
B) business objectives
C) sales objectives
D) marketing objectives
E) customer engagement objectives

Answer 12

A

Question 13

13) Which of the following companies has a product-oriented business definition?
A) A luxury hotel, whose business definition is: “We sell out-of-the-world experiences to our guests.”
B) A real estate company, whose business definition is: “We sell dreams.”
C) A cosmetic company, whose business definition is: “We offer hope and self-expression.”
D) A shoe manufacturer, whose business definition is: “We manufacture affordable and long- lasting shoes for all.”
E) A high-technology company, whose business definition is: “We sell inspirations.”

Answer 13

D

Question 14

14) Which of the following companies has a market-oriented business definition?
A) An electronics company, whose business definition is: “We produce microchips.”
B) A hotel, whose business definition is: “We rent rooms.”
C) An apparel company, whose business definition is: “We make and sell women’s clothing.”
D) A cosmetic company, whose business definition is: “We sell hope and self-esteem.”
E) A pizzeria, whose business definition is: “We sell the world’s most delicious thin-crust pizzas.”

Answer 14

D

Question 15

15) Which of the following is NOT an example of product-oriented mission statements?
A) “We are an online library.”
B) “We run theme parks.”
C) “We sell athletic shoes.”
D) “We sell memorable experiences.”
E) “We rent hotel rooms.”

Answer 15

D

Question 16

16) Which of the following is a market-oriented mission statement?
A) “We empower customers to achieve their dreams.”
B) “We sell jumbo burgers.”
C) “We are an online library.”
D) “We are a low-cost airline.”
E) “We make porcelain figurines.”

Answer 16

A

Question 17

17) Mission statements should be ________.
A) meaningful and specific yet motivating
B) technology oriented
C) written solely for public relations purposes
D) focused on increasing sales or profits
E) strictly product oriented

Answer 17

A

Question 18

18) A company’s broad mission leads to ________.
A) increasing profits and more customers
B) increasing sales and decreasing costs
C) a higher share price
D) a hierarchy of objectives, including business objective and marketing objectives
E) increased market share and increasing profitability

Answer 18

D

Question 19

19) The collection of businesses and products that make up a company is called its ________.
A) strategic business unit
B) supply chain
C) strategic plan
D) business portfolio
E) internal value chain

Answer 19

D

Question 20

32) Which of the following is the first step of business portfolio planning?
A) shaping the future portfolio by developing strategies for growth and downsizing
B) determining which businesses should receive more, less, or no investment
C) identifying internal strengths and weaknesses
D) identifying future opportunities
E) determining short-term goals

Answer 20

B

Question 21

21) The major activity in strategic planning is ________, whereby management evaluates the products and businesses that make up the company.
A) SWOT analysis
B) benchmarking
C) business portfolio analysis
D) breakeven analysis
E) prospecting

Answer 21

C

Question 22

22) The best business portfolio is the one that ________.
A) provides the greatest opportunity for increasing profits
B) best fits the company’s strengths and weaknesses to opportunities in the environment
C) ensures that the company will realize increased share of market
D) allows the company to decrease its overall costs
E) entices customers to purchase even more products from the company

Answer 22

B

Question 23

23) Which of the following best describes a strategic business unit?
A) the internal value chain of a company
B) the supply chain of a company
C) the key businesses that make up a company
D) the key channel intermediaries of a service company
E) the key competitors of a company

Answer 23

C

Question 24

24) During portfolio analysis, a company ________ after identifying the key businesses that make up the company.
A) formulates a short-term marketing plan
B) assesses the attractiveness of its various SBUs
C) assesses its strengths and weaknesses
D) performs a SWOT analysis
E) assesses the effectiveness of its various channel intermediaries

Answer 24

B

Question 25

25) Which of the following is NOT something a company must determine when analyzing its current business portfolio? A) which businesses should receive more investment B) which businesses should receive less investment C) which businesses should receive no investment D) which businesses should be sold or closed E) which businesses shape the future portfolio

Answer 25

D

Question 26

26) Most standard portfolio analysis methods evaluate SBUs on the ________. A) potential for niche or global marketing B) degree of product differentiation C) strength of the market or industry position D) accessibility to rural markets E) number of successful business acquisitions

Answer 26

C

Question 27

27) According to the Boston Consulting Group approach, ________ provides a measure of market attractiveness. A) product attribute B) product design C) market penetration D) market growth rate E) market segmentation

Answer 27

D

Question 28

28) According to the Boston Consulting Group approach, ________ serves as a measure of company strength in the market. A) relative market share B) product development C) market diversification D) product attribute E) market segmentation

Answer 28

A

Question 29

29) Which of the following is true of the BCG matrix approach? A) It is inexpensive to implement. B) It does not have any limitations. C) It considers market growth rate to be a measure of market attractiveness. D) It describes consumer motivations and needs. E) It does not consider relative market share to be a measure of company strength in the market.

Answer 29

C

Question 30

30) Within a company, who is most likely to perform strategic planning? A) the president and vice presidents B) the accounting and finance departments C) the marketing and sales departments D) cross-functional teams of divisional managers close to their markets E) the manufacturing and production departments

Answer 30

D

Question 31

31) The key businesses of Kimberley and Price consist of a division that produces and sells breakfast cereals and another that manufactures gardening tools. Each of these businesses is called a ________. A) market segment B) strategic business unit C) question mark D) prospect E) product portfolio

Answer 31

B

Question 32

32) ________ are a type of SBU that often require heavy investments to finance their rapid growth. A) Cash cows B) Question marks C) Stars D) Dogs E) Bears

Answer 32

C

Question 33

33) ________ are low-growth, high-share businesses/products that need less investment to hold their market share. A) Stars B) Cash cows C) Question marks D) Dogs E) Bears

Answer 33

B

Question 34

34) Which of the following is true with regard to cash cows? A) They are high-growth, high-share businesses or products. B) They can be used to help finance the company's question marks and stars. C) They require significant cash to maintain market share. D) They are low-share businesses and products. E) They do not promise to be large sources of cash.

Answer 34

B

Question 35

35) ________ are low-share business units in high-growth markets that require a lot of cash to hold their share. A) Stars B) Dogs C) Question marks D) Cash cows E) Bears

Answer 35

C

Question 36

36) The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market. According to the BCG matrix, the pharmaceuticals division of Omni can be classified as a ________. A) star B) bear C) question mark D) cash cow E) dog

Answer 36

C

Question 37

37) By harvesting its SBU, a company would most likely be ________. A) milking the SBU's short-term cash flow regardless of the long-term effect B) selling the SBU or phasing it out and using the resources elsewhere C) investing just enough to hold the SBU's current market share D) investing more in the business unit to build its share E) diversifying the company's product line

Answer 37

A

Question 38

38) A company can ________ an SBU by selling it or phasing it out and using the resources elsewhere. A) divest B) promote C) expand D) harvest E) hold

Answer 38

A

Question 39

39) Modern strategic planning ________. A) exclusively consists of a company's short-term goals B) is decentralized C) does not involve cross-functional teams D) does not take the overall mission of the company into consideration E) is highly centralized

Answer 39

B

Question 40

40) The BCG matrix approach is problematic in that it ________. A) focuses on planning for the future at the cost of ignoring the present B) focuses solely on current businesses and provides little scope for future planning C) tends to undermine the importance of market growth rate as a measure of market attractiveness D) tends to undermine the importance of relative market share as a measure of company strength in the market E) fails to classify SBUs

Answer 40

B

Question 41

41) Which of the following is a portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification? A) BCG matrix B) analysis of variance C) product/market expansion grid D) Harris matrix E) SWOT analysis

Answer 41

C

Question 42

42) Phoenix, a popular coffee shop chain in North America, recently opened 400 stores to cater to its rapidly increasing number of patrons. This exemplifies ________. A) product differentiation B) product development C) diversification D) market penetration E) market segmentation

Answer 42

D

Question 43

43) Which of the following is true with regard to the product/expansion grid? A) It classifies SBUs into four distinct categories. B) It is a useful device for identifying growth opportunities. C) It helps companies analyze their internal strengths and weaknesses. D) It functions on the premise that firms should downsize to regain market share. E) It is a useful device for segregating customers into distinct categories.

Answer 43

B

Question 44

44) Making more sales to current customers without changing a firm's products is known as ________. A) market segmentation B) market penetration C) product diversification D) product development E) prospecting

Answer 44

B

Question 45

45) Lark Inc., an American electronics company, is currently reviewing new geographical markets to sell its highly popular televisions. By 2020, it plans to open new stores across all the major South Asian cities. Lark is most likely following a ________ strategy. A) local marketing B) market development C) diversification D) product adaptation E) product development

Answer 45

B

Question 46

46) The managers of Arrow, an American retail chain, are currently reviewing new demographic markets to sell the firm's current products. This is an example of ________. A) market penetration B) product development C) mass marketing D) market development E) product adaptation

Answer 46

D

Question 47

47) The managers of Alfredo's Pizza, a popular pizzeria in New York City, have been increasingly encouraging senior citizens to visit the pizzeria's numerous outlets spread across the city. Anticipating a rise in the population of senior citizens in the area, the management of Alfredo's Pizza is seeking to tap into this promising segment that consists of retired, affluent consumers. In this instance, the managers of Alfredo's Pizza are anticipating company growth through ________. A) market development B) product development C) mass customization D) niche marketing E) product differentiation

Answer 47

A

Question 48

48) FencePro, a local company, has developed an entirely new mounting system for chain link fences. After acquiring a distributor, FencePro now has the ability to market its products nationwide. FencePro is most likely following a ________ strategy. A) market penetration B) market development C) downsizing D) product adaptation E) product development

Answer 48

B

Question 49

49) Amor, a successful brand of women's clothing, recently introduced a line of fitness equipment. This is an example of ________. A) mass customization B) niche marketing C) diversification D) prospecting E) product adaptation

Answer 49

C

Question 50

50) Sunny Brews is a coffeehouse chain based in Boston. It recently introduced Eva, a mild roast, which became immensely popular. This exemplifies ________. A) benchmarking B) diversification C) mass customization D) product development E) downsizing

Answer 50

D

Question 51

51) A women's apparel manufacturer in California recently acquired a Houston-based company that manufactures office furniture. This is an example of ________. A) product development B) market development C) market penetration D) diversification E) product differentiation

Answer 51

D

Question 52

52) Cleats, Unlimited developed a new style of soccer shoe. This is an example of ________. A) product development B) market development C) market penetration D) diversification E) product differentiation

Answer 52

A

Question 53

53) Companies may want to downsize their business portfolios for all but which of the following reasons? A) The firm may have grown too fast. B) The firm may have entered areas where it lacks experience. C) The customers may have purchased all they need. D) The market environment might change. E) The products might simply age.

Answer 53

C

Question 54

54) Elmo Corp., a manufacturer of personal computers and printers, recently established an office furniture exporting business. This is an example of ________. A) niche marketing B) local marketing C) diversification D) product adaptation E) downsizing

Answer 54

C

Question 55

55) Marketing plays a key role in the company's strategic planning in all of these ways EXCEPT ________. A) providing input to identify attractive market opportunities B) designing new products from scratch C) creating customer value and building profitable relationships with customer groups D) designing strategies for reaching a unit's objective E) providing a guiding philosophy

Answer 55

B

Question 56

56) Each department in a company that carries out value-creating activities can be thought of as a link in the company's ________. A) channel of intermediaries B) external value stream C) demand chain D) internal value chain E) supplier chain

Answer 56

D

Question 57

57) RedFin manufactures diving equipment that is highly regarded by customers worldwide. Each department in RedFin contributes to its success and can be thought of as a(n) ________. A) link in the company's internal value chain B) separate organization C) independent subsidiary of the company D) separate market segment E) SBU

Answer 57

A

Question 58

58) The network made up of the company, its suppliers, its distributors, and, ultimately, its customers who partner with each other to improve the performance of the entire system is known as the ________. A) business portfolio B) supply chain C) marketing mix D) value delivery network E) internal value chain

Answer 58

D

Question 59

59) The marketing logic by which a company hopes to create customer value and achieve profitable customer relationships is referred to as the ________. A) price B) marketing implementation C) value chain D) marketing strategy E) downsizing

Answer 59

D

Question 60

60) Which of the following is an element of the marketing mix? A) place B) education C) needs D) wants E) esteem

Answer 60

A

Question 61

61) Which of the following is NOT part of a company's decision about which customers it will serve and how? A) differentiation B) targeting C) budgeting D) segmentation E) positioning

Answer 61

C

Question 62

62) Which of the following is NOT an element of the marketing mix? A) place B) purchase C) product D) price E) promotion

Answer 62

B

Question 63

63) Customers can be grouped and served in various ways based on several factors. These include all of the following EXCEPT ________ factors. A) psychographic B) behavioral C) technological D) demographic E) geographic

Answer 63

C

Question 64

64) Market segmentation can be best described as the process of ________. A) assigning specific human attributes to a given brand B) dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate marketing programs C) evaluating each market segment's attractiveness and selecting one or more segments to enter D) turning marketing plans into marketing actions to accomplish strategic marketing objectives E) maintaining a strategic fit between organizational goals and changing marketing opportunities

Answer 64

B

Question 65

65) Teenagers are expected to respond in a similar way to a set of marketing efforts. In other words, this group represents a ________. A) channel intermediary B) line extension C) market segment D) product attribute E) brand personality

Answer 65

C

Question 66

66) Each company must divide up the total market, choose the best segments, and design strategies for profitably serving chosen segments. This process involves market segmentation, ________, differentiation, and positioning. A) market targeting B) marketing implementation C) supply-chain analysis D) price discrimination E) market diversification

Answer 66

A

Question 67

67) Which of the following refers to the process of dividing a market into distinct groups of buyers with different needs, characteristics, or behaviors? A) market diversification B) market segmentation C) downsizing D) customer relationship management E) prospecting

Answer 67

B

Question 68

68) Rob has been asked by his manager to identify a group of potential customers who would respond in a similar way to a given set of marketing efforts. In this instance, Rob has been asked to identify a ________. A) new product B) market segment C) marketing intermediary D) brand E) product line

Answer 68

B

Question 69

69) The process of evaluating each market segment's attractiveness and selecting one or more segments to enter is known as ________. A) market segmentation B) diversification C) market targeting D) prospecting E) downsizing

Answer 69

C

Question 70

70) Paul Robinson has identified a group of potential customers who seem to respond in a similar way to a series of magazine and radio advertisements for his company's product. Paul has identified a ________. A) target market B) market segment C) niche market D) product attribute E) product design

Answer 70

B

Question 71

71) Which of the following is true with regard to a market segment? A) A market segment consists of consumers with dissimilar needs and preferences. B) A market segment consists of consumers who respond in a similar way to a given set of marketing efforts. C) Very few markets have segments. D) Dividing the market into segments decreases the efficiency of the selling process. E) Dividing the market into segments reduces composite demand.

Answer 71

B

Question 72

72) The process of arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers is known as ________. A) market segmentation B) differentiation C) target marketing D) market targeting E) positioning

Answer 72

E

Question 73

73) Crocus, a gift store, specializes in serving customer segments that major competitors overlook and ignore. Which of the following best describes Crocus? A) market follower B) market challenger C) early adopter D) market nicher E) laggard

Answer 73

D

Question 74

74) Arrow is "a different kind of company, manufacturing a different kind of a car"; the RoadPro is "like nothing else." Statements such as these reflect a firm's ________. A) portfolio B) marketing segment C) positioning D) marketing mix E) mission statement

Answer 74

C

Question 75

75) Alpha Motors offers "Green automobiles for a greener world." This refers to the ________ of Alpha automobiles. A) brand resonance B) position C) brand equity D) pleasure value E) added value

Answer 75

B

Question 76

76) Arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers is known as ________. A) positioning B) segmenting C) diversifying D) prospecting E) satisficing

Answer 76

A

Question 77

77) Effective positioning begins with ________. A) pricing B) diversification C) differentiation D) promotion E) segmentation

Answer 77

C

Question 78

78) Which of the following Ps in the marketing mix describes the goods-and-services combination the company offers to the target market? A) price B) promotion C) product D) place E) package

Answer 78

C

Question 79

79) In the marketing mix, design, packaging, services, and variety can be categorized under ________. A) product B) price C) promotion D) place E) position

Answer 79

A

Question 80

80) In the context of a company's marketing mix, ________ includes company activities that make the product available to target consumers. A) position B) place C) price D) promotion E) branding

Answer 80

B

Question 81

81) In the marketing mix, place includes ________. A) logistics B) discounts C) sales promotion D) advertising E) packaging

Answer 81

A

Question 82

82) ________ refers to activities that communicate the merits of the product and persuade target customers to buy it. A) Position B) Promotion C) Pricing D) Segmentation E) Prospecting

Answer 82

B

Question 83

83) Which of the following is true with regard to a SWOT analysis? A) It classifies SBUs into four distinct categories. B) It measures customer response to a new product. C) It evaluates the company's overall strengths. D) It evaluates the growth potential of a market segment. E) It ignores the threats faced by a company while assessing its situation in the market.

Answer 83

C

Question 84

84) ________ analysis is an overall evaluation of the company's strengths, weaknesses, opportunities, and threats. A) Porter's five forces B) A breakeven C) A regression D) A SWOT E) A cluster

Answer 84

D

Question 85

85) In a SWOT analysis, which of the following would be considered a strength? A) industry trends B) technological shifts C) environmental demands D) performance challenges E) internal capabilities

Answer 85

E

Question 86

86) In a SWOT analysis, ________ include favorable trends in the external environment. A) strengths B) challenges C) weaknesses D) opportunities E) threats

Answer 86

D

Question 87

87) Harris Brown, the marketing manager at a small retail chain, wants to assess his firm's strengths, opportunities, weaknesses, and threats. Which of the following would be best suited for his purpose? A) SWOT analysis B) cluster analysis C) portfolio analysis D) regression analysis E) Porter's five forces analysis

Answer 87

A

Question 88

88) Which of the following functions is NOT part of managing the marketing process? A) planning B) control C) budgeting D) implementation E) organization

Answer 88

C

Question 89

89) ________ provides a complete analysis of the company's situation. A) A SWOT analysis B) A marketing audit C) Regression analysis D) Return on marketing investment E) Marketing budget evaluation

Answer 89

A

Question 90

90) Marketing ________ addresses the what and why of marketing activities, while marketing ________ addresses the who, where, when, and how. A) analysis; planning B) planning; implementation C) implementation; planning D) organization; implementation E) control; planning

Answer 90

B

Question 91

91) Omega Inc. makes lightweight sunglasses with 100-percent UV protection for people who love to hunt, hike, and ride bikes. The company's long-term plans include the development of lenses that, in addition to protecting users from UV rays, would help reduce lens spotting through effective water-sheeting methods. This new feature would be valuable to people who fish. Given the rising popularity of recreational fishing in the United States, Omega products clearly have a huge market potential. In terms of a SWOT analysis, Omega has recognized a market ________. A) weakness B) strength C) threat D) opportunity E) challenge

Answer 91

D

Question 92

92) The main section of the marketing plan most likely presents a detailed ________ analysis of the current marketing situation. A) breakeven B) SBU C) SWOT D) regression E) cluster

Answer 92

C

Question 93

93) A marketing plan begins with a(n) ________, which presents a brief summary of the main goals and recommendations of the plan for management review. A) budget B) opportunity analysis C) threat analysis D) executive summary E) action program

Answer 93

D

Question 94

94) Many managers think that "doing things right," or ________, is as important as, or even more important than, "doing the right things." A) strategy B) planning C) positioning D) implementation E) targeting

Answer 94

D

Question 95

95) The most common form of marketing organization is the ________ organization. Under this organization, an operational specialist heads different marketing activities. A) geographic B) product management C) functional D) customer management E) market

Answer 95

C

Question 96

96) Berman Electronics, a chain of appliance stores in North America, caters to a wide range of customers. It has a marketing organization in which different operational specialists head different marketing activities. Berman Electronics is a(n) ________. A) customer management organization B) niche marketer C) early adopter D) functional organization E) laggard

Answer 96

D

Question 97

97) ________ refer(s) to meaningful sets of marketing performance measures in a single display used to monitor strategic marketing performance. A) Field automation systems B) Market segments C) Market share D) Marketing dashboards E) Line extensions

Answer 97

D

Question 98

98) Emerson Studios has designed its marketing organization along the lines of a ________ organization in which operational specialists head different marketing activities. A) geographic B) product C) functional D) customer E) market

Answer 98

C

Question 99

99) Ravenshaw Corp. assigns its sales and marketing people to specific countries, regions, and districts. Ravenshaw Corp. is most likely an example of a ________. A) geographic organization B) product organization C) functional organization D) niche marketer E) mass marketer

Answer 99

A

Question 100

100) Which of the following is true with regard to geographic organization? A) It is the most common form of marketing organization. B) Different marketing activities are headed by a functional specialist. C) It requires salespeople to have international experience. D) It reduces the overall efficiency of salespeople. E) It allows salespeople to work with a minimum of travel time and cost.

Answer 100

E

Question 101

101) Which of the following is a major advantage of the market organization? A) The company is organized around the needs of specific customer segments. B) The company exploits bleeding-edge technologies to keep ahead in the market. C) The company has a flat organizational structure. D) The company allows its salespeople to settle into a specific territory. E) The company caters to a single, small market segment.

Answer 101

A

Question 102

102) More and more, companies are shifting their brand management focus from brand profitability toward ________. A) technology management B) product management C) customer management D) functional management E) geographic management

Answer 102

C

Question 103

103) ________ refers to measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved. A) Marketing control B) Marketing implementation C) Satisficing D) Prospecting E) Benchmarking

Answer 103

A

Question 104

104) Marketing control involves four steps including all the following EXCEPT ________. A) setting specific marketing goals B) measuring the marketing plan's performance in the marketplace C) evaluating the causes of any differences between expected and actual performance D) increasing the staffing in the planning department E) taking corrective action to close the gaps between goals and performance

Answer 104

D

Question 105

105) All of the following steps pertain to the marketing control process EXCEPT ________. A) setting goals B) measuring performance C) taking corrective action D) defining the company's mission E) evaluating the causes of gaps between expected and actual performance

Answer 105

D

Question 106

106) The purpose of ________ is to ensure that the company achieves the sales, profits, and other goals set out in its annual marketing plan. A) benchmarking B) operating control C) strategic control D) SWOT analysis E) a marketing audit

Answer 106

B

Question 107

107) ________ involves looking at whether a company's key action plans are well-matched to its opportunities. A) Operating control B) Benchmarking C) Strategic control D) Regression analysis E) Portfolio analysis

Answer 107

C

Question 108

157) ________ measures the profits generated by investments in marketing activities. A) A SWOT analysis B) A marketing audit C) Regression analysis D) Return on marketing investment E) Marketing budget evaluation

Answer 108

D