Chapter 2
Marketing
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• 1
Of the five steps to the strategic marketing
planning process, which step usually comes after
implementing marketing mix and allocating
resources?
A) evaluate performance.
B) define the business mission.
C) situation analysis.
D) identifying and evaluating opportunities.
E) none of the above, after implementing the
marketing mix and allocating resources, the
marketer is finished.
• 2
Vince works as a waiter at many business
functions. GRIPO insurance company has just had
their annual meeting and left behind copies of
their marketing plan. Vince opens a copy of the
plan. Which of the following would Vince NOT
expect to find in GRIPO’s marketing plan?
A) a situation analysis.
B) company description
C) segmentation and target market analysis
D) marketing objectives.
E) CVs of sales representatives.
• 3
When conducting a SWOT analysis, a company
will assess all of the following EXCEPT:
A) Strengths
B) threats
C) weaknesses
D) opportunities
E) strategies
• 4
Which of the following is likely to be source of
a sustainable competitive advantage?
A) supply chain efficiency.
B) brand name.
C) customer satisfaction.
D) patented technology.
E) all of the above.
• 5
When identifying and evaluating
opportunities, STP refers to:
A) stratifying, taking, professing.
B) strategic, target, preferences.
C) segmentation, targeting, and positioning.
D) seasonal, temporary, permanent.
E) sustainable, temporary, positions.
• 6
After identifying various market segments that
his company could pursue, Lionel evaluated each
segment’s attractiveness based on income, size,
and accessibility. Lionel was involved in:
A) target marketing.
B) situation analysis.
C) diversification.
D) operational excellence calculations.
E) market penetration estimation.
• 7
Positioning involves the process of defining the
marketing mix variables so that target customers
have a _________________ of what a product
does or represents in comparison with competing
products.
A) cost-based accounting
B) vague idea
C) sustainable vision
D) clear, distinctive understanding
E) positive, forward-thinking estimate
• 8
The pricing strategy that involves first
determining the perceived value of the
product from the customer’s point of view
and then pricing accordingly is well known as:
A) cost-based pricing
B) value-based pricing
C) competitor-based pricing
D) consumer-based pricing
E) breakeven pricing
• 9
On a BCG growth-share matrix, the horizontal axis
represents ——————- and the vertical axis
represents —————– .
A) market share and market growth rate
B) market growth rate and market share
C) relative market share and market growth rate
D) market growth rate and relative market share
E) Profit and sales
• 9
On a BCG growth-share matrix, the horizontal axis
represents ——————- and the vertical axis
represents —————– .
A) market share and market growth rate
B) market growth rate and market share
C) relative market share and market growth rate
D) market growth rate and relative market share
E) Profit and sales
• 9
On a BCG growth-share matrix, the horizontal axis
represents ——————- and the vertical axis
represents —————– .
A) market share and market growth rate
B) market growth rate and market share
C) relative market share and market growth rate
D) market growth rate and relative market share
E) Profit and sales
• 9
On a BCG growth-share matrix, the horizontal axis
represents ——————- and the vertical axis
represents —————– .
A) market share and market growth rate
B) market growth rate and market share
C) relative market share and market growth rate
D) market growth rate and relative market share
E) Profit and sales
• 13
Almost every enthusiastic salesperson thinks his
or her firm provides better service than their
competitors. If this is accurate, and customers
recognize it, the salesperson creates and delivers
value through:
A) customer excellence
B) operational excellence.
C) product excellence.
D) promotional excellence.
E) global excellence.
• 14
Firms achieve operational excellence through:
A) customer loyalty.
B) strategic acceptance by marketing
intermediaries.
C) relative market share growth.
D) value-based penetration.
E) efficient procedures and excellent supply
chain management.
• 15
In the SWOT analysis for Disney, the following
is NOT an opportunity
A) Well-known brand
B) Expand into international markets
C) Expand existing business in Canada
D) Expand cruise line business
E) Build new attractions for theme parks