Multiple choice questions:
Question 1
A ____ is something that an organization does extremely well and may give a company an advantage over its competition.
Answer
benchmark
sustainable competitive advantage
core competency
strategic vision
marketing opportunity
Question 2
According to the Boston Consulting Group, marketers may classify their products as all of the following except
Answer
dogs.
cash contributors.
question marks.
stars.
cash cows.
Question 3
The Boston Consulting Group's matrix is based on the
Answer
idea that a firm's market share and market attractiveness are the important factors for a marketing strategy.
assumption that a firm's actions have a profitable impact on marketing strategy.
business position and market attractiveness of the firm.
philosophy that a product's market growth rate and its market share are important determinants of its marketing strategy.
idea that a product's market growth rate and market attractiveness determine the marketing strategy.
Question 4
A competitive advantage that cannot be readily copied by the competition is referred to as a(n) ____ advantage.
Answer
controllable
sustainable
noncopyable
effective
implementable
Question 5
Customer relationship management is facilitated by gathering useful data from
Answer
telephone interactions with customers.
personal interactions with customers.
online interactions with customers.
all customer-contact points.
all exchange transactions.
Question 6
A marketing unit can be organized according to functions, products, regions, and
Answer
sales.
target markets.
competitive units.
types of customers.
product features.
Question 7
____ strategy determines the means for utilizing resources in the functional areas of marketing, production, finance, research and development, and human resources to achieve the organization's goals.
Answer
Corporate
Business-unit
Marketing
Mission statement
Marketing mix
Question 8
An organization's business goals should be derived from its
Answer
mission statement.
strategic plan.
strategic business plan.
marketing plan.
marketing strategy.
Question 9
An expected level of performance against which actual performance can be compared is a
Answer
standard performance.
standard of excellence.
step in sales analysis.
performance standard.
corrective standard.
Question 10
Key factors in determining the best organizational structure for a marketing unit are the
Answer
preferences of top management.
fiscal resources of the firm.
number of employees.
diversity of the firm's products and the characteristics and needs of the people in the target market.
skill levels of employees.
Question 11
To monitor changes in the marketing environment effectively, marketers must engage in
Answer
environmental scanning and analysis.
economic scanning
self-regulatory analysis
marketing research analysis
information collecting
Question 12
Consumerism is a
Answer
diverse group of individuals and organizations opposed to foreign producers that sell products in the United States that are much cheaper than those produced by U.S. manufacturers.
social movement that is trying to encourage consumer satisfaction.
social movement that is reorganizing the Council of Better Business Bureaus.
diverse group of individuals and organizations attempting to protect the rights of consumers.
social movement that provides consumers with means for expressing satisfaction and expressing their gratitude to producers.
Question 13
The accumulation of past income, natural resources, and financial resources is known as
Answer
income.
collected income.
credit.
wealth.
savings.
Question 14
In the near future, what subculture will become the second largest group in the United States?
Answer
Whites
African Americans
Asians
Hispanics
Native Americans
Question 15
Which of the following actions is illegal?
Political officials influencing how much a government agency purchases and from whom.
Corporate contributions to candidates.
Corporate contributions to elected officials.
Political officials helping businesses secure foreign markets.
Paying political officials not to enforce a particular law.
Question 16
Marketing ethics
Answer
refers to laws and regulations that govern marketing.
refers to principles and standards that define acceptable conduct in marketing.
maximizes an organization's positive impact and minimizes its negative impact on society.
is most important for advertising agencies.
applies well-defined rules for appropriate marketing behavior.
Question 17
Who are the primary recipients of the benefits of strategic philanthropy?
Answer
Employees and investors
Companies and society
Primary stakeholders
Managers and companies
Society and communities
Question 18
____ competitors are the most significant to marketers because buyers see the different products of these firms as direct substitutes for each other.
Answer
Oligopolic
Total budget
Generic
Product
Brand
Question 19
Various stakeholders and ____ determine the acceptable standards of conduct involving ethics.
Answer
the organizations' ethical climate
the federal government
various self-regulating bodies
governmental agencies
the industry leaders' ethics
Question 20
The 1990 Nutritional Labeling and Education Act directly prohibits
Answer
exaggerated claims made by health and fitness products.
putting the words "cholesterol-free" on any food package.
putting nutritional information on most food products.
exaggerated health claims on food packages.
the use of any health claim on food packaging