Question 1. Which of the following is the main focus of a sales driven organization?
Creating and delivering customer value.
Maximizing the profit generated.
Increasing market share and volumes.
Converting the marketing efforts to profits.
Question 2. Which of the following observations is true about the market driven approach to marketplace?
This kind of organization embraces marketing to excess.
This approach is adopted by high-risk taking companies.
This approach is not suited for consumer goods manufacturers.
This kind of organization can quickly respond to changes in the marketplace.
Question 3. __________ driven approach is an aggressive, push-the-catalogue approach to marketing.
Technology
Sales
Marketing
Customer
Question 4. A few customers cost more to serve than the revenues they generate. Identify the most appropriate way to handle these customers.
Attempt to turn away the unprofitable customers.
Provide services at a discounted rate to these customers.
Avail preferential treatment to these customers.
Design specific marketing messages for these customers.
Question 5. According to the text, organizations can become customer-oriented by:
distributing information on all important buying influences only among marketing department personnel and brand managers.
making strategic and tactical decisions interfunctionally and interdivisionally.
spending large sums of money in research and development.
introducing line extensions rather than creating new products.
Question 6. Which of the following is highest in the hierarchy of planning?
Corporate strategic planning
Group or sector planning
SBU planning
Annual marketing plan
Question 7. __________ capabilities allow marketers to potentially locate customers when they are geographically proximate to a retail outlet.
Global positioning
Multimedia
Storage
Networking
Question 8. __________ refers to the present value of a stream of revenue that can be produced by a customer.
Net present value
Actual customer value
Market potential
Lifetime customer value
Question 9. Product-focused organizational structure is not suited for:
business-to-business products.
retail products.
consumer durables.
internationally focused products.
Question 10. The interactions that a customer has with a company are termed:
experiences.
elucidations.
relationships.
solutions.
Question 11. Which of the following is a characteristic of a good objective statement?
It should assign individual responsibility.
It should be defined in the qualitative terms.
It should not be too challenging.
It should be stated in measurable terms.
Question 12. When competitive advantage is cost- or price-based, it is necessary to know the __________ to be sure that you can compete on this basis by matching price cuts.
cost of raw materials
economic conditions
inflation rates
competitor's costs
Question 13. When marketing managers consider the alternative differentiation possibilities and determine what differential advantages are to be emphasized and communicated to the target customer, they are engaging in:
brand equity.
brand positioning.
product positioning.
product development.
Question 14. The __________ communicates the reasons to buy a product/ service to a specific customer group.
mission
core strategy
marketing mix
objective
Question 15. The __________ is the criterion by which the success or failure of the strategy is measured.
customer targets
competitor targets
objective
marketing mix
Question 16. The value of a brand name in communicating quality or other aspects of the product is called:
value equity.
brand equity.
brand position.
strategic value.
Question 17. Which of the following explains stretching out the life cycle?
Increasing the duration of the present stage of the PLC.
Using the strategies of the previous stage in the next stage.
Looking ahead to the next stage and planning changes in the product.
Using the strategies of the decline stage in the growth stage.
Question 18. Which of the following statements is true regarding the maturity stage of the product life cycle?
During this stage, the market grows rapidly.
Usually, competition is most intense in this phase.
Many new competitors enter the market.
This stage comes after the introduction stage.
Question 19. Which of the following statements is true about the decline stage of the product life cycle?
During this stage, the market grows rapidly.
Many new competitors enter the market.
Usually, competition is most intense in this phase.
Product category sales decrease at this stage.
Question 20. In the growth stage of the product life cycle, the riskiest move by a follower is to:
imitate the leader by developing "me-too" products.
leapfrog the competition.
exit quickly and invest in some other product with long-term potential.
fortify its position as number two or three.