Question 1
In the BCG matrix, income from __________ can be used to help finance the company's question marks and stars.
A. dogs
B. cash cows
C. SWOTs
D. overseas operations
Question 2
Risk-taking and the promise of servicing a product after purchase are examples of __________ functions.
A. exchange
B. facilitating
C. consumer
D. public
Question 3
Columbia Sportswear makes nylon activewear. Its marketing manager set a goal to use greater promotional efforts to increase by 12% over the next three years the sales of the company's line of comfortable, lightweight clothing for people who fish. Columbia Sportswear's marketing manager is engaged in:
A. portfolio planning.
B. strategic planning.
C. tactical planning.
D. mass marketing.
Question 4
Strategic planning is typically completed by a company's __________, while tactical planning is typically completed by a company's __________.
A. marketing function; various business functions
B. marketing function; top management
C. various business functions; top management
D. top management; various business functions
Question 5
When the makers of a line of ballpoint pens state that they are in the communication equipment business, they are defining their mission too:
A. narrowly.
B. realistically.
C. specifically.
D. broadly.
Question 6
Which of the following groups is the ultimate judge of a product's utility?
A. Marketers
B. Management
C. Consumers
D. Suppliers
Question 7
The vice president of marketing for a software development company wants "to increase new business customers by 20% within the next two years." This is an example of a:
A. marketing objective.
B. business vision.
C. business mission.
D. strategic plan.
Question 8
Large business purchasers usually call for detailed product specifications, written purchase orders, careful supplier searches, and formal approval. These are all examples of how the business buying process is more __________ than the consumer buying process.
A. formalized
B. creative
C. opinion-based
D. independent
Question 9
A company's business mission serves as a statement of:
A. fact.
B. achievement.
C. purpose.
D. financial goals.
Question 10
Which of the following MOST accurately identifies a difference between a weakness and a threat in SWOT analysis?
A. A company is more able to change a threat than a weakness.
B. A company is more able to change a weakness than a threat.
C. A company can be more negatively affected by a weakness than by a threat.
D. A company can be more negatively affected by a threat than by a weakness.
Question 11
A marketer who first identifies consumer needs and then creates value by providing products that satisfy those needs is practicing the:
A. sales orientation.
B. marketing concept.
C. customer lifetime value concept.
D. production orientation.
Question 12
In marketing terms, B2B stands for:
A. buyer-to-buyer.
B. buyer-to-business.
C. business-to-buyer.
D. business-to-business.
Question 13
Don Brady is responsible for obtaining price quotes from various vendors. After reviewing the vendors' proposals, Don then determines whether or not to send each vendor a contract. Don apparently plays two roles in the buying center, that of __________ and __________.
A. user; buyer
B. buyer; gatekeeper
C. initiator; user
D. decider; buyer
Question 14
A company that focuses on building value-added relationships is most likely to place the highest value on which of the following?
A. Cutting short-term costs
B. Building long-term relationships
C. Attracting one-time customers who are highly profitable
D. Building short-term relationships
Question 15
In a basic SWOT analysis, the "S" stands for:
A. situation.
B. solutions.
C. satisfactions.
D. strengths
Question 16
Which of the following is a consumer product?
A. Salt and gravel used by cities to spread on icy roads
B. A bulk package of tissues to be separated and resold at a convenience store
C. A bag of potato chips to be eaten by an individual
D. A carton of tomatoes to be used at a restaurant
Question 17
A company would most likely use the Porter analysis for which of the following?
A. Determining whether or not to expand a brand into a new market segment
B. Assessing employee understanding of and commitment to company values
C. Identifying shifting cultural values relevant to the company's products
D. Identifying lobbying efforts with the highest likelihood of success
Question 18
In recent years, security regulations initiated by the federal government through the Transportation Safety Administration affected Southwest Airlines. These regulations are part of the __________ affecting this airline.
A. external environment
B. internal environment
C. competitive environment
D. brand strategies
Question 19
According to your textbook, modern marketing has its roots in all of the following EXCEPT:
A. anthropology.
B. economics.
C. psychology.
D. sociology.
Question 20
A __________ is the process a business uses to evaluate the different combinations of products and services the business offers.
A. SWOT analysis
B. portfolio analysis
C. marketing mix
D. ROMI analysis
