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