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?

Answer

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.