Question-1
A __________ is a cluster of complementary products and services that are closely related in the minds of consumers but are spread across a diverse set of industries.
A. metamarket
B. vertically integrated market
C. horizontally integrated market
D. marketspace
Question-2
When eBay and Amazon.com cut out the majority of middlemen that normally would participate in the exchange process, it is an example of:
A. deregulation.
B. reverse auctioning.
C. reintermediation.
D. disintermediation.
Question-3
As economies advance, a growing proportion of their activities focuses on the production of:
A. products.
B. events.
C. experiences.
D. services.
Question-4
Michael Porter's value chain would identify which of the following as a support activity?
A. Shipping out final products
B. Marketing products
C. Procurement
D. Servicing products
Question-5
__________ goods constitute the bulk of most countries' production and marketing efforts.
A. Durable
B. Impulse
C. Physical
D. Luxury
Question-6
The value of an offering is described as:
A. the price consumers are charged for a product.
B. the cost of manufacturing a product.
C. the degree to which consumer demand for a product is positive.
D. the sum of the tangible and intangible benefits and costs to customers.
Question-7
The __________ is the channel stretching from raw materials to components to final products that are carried to final buyers.
A. communication channel
B. distribution channel
C. supply chain
D. service chain
Question-8
Companies address needs by putting forth a __________, a set of benefits that they offer to customers to satisfy their needs.
A. brand
B. value proposition
C. deal
D. marketing plan
Question-9
Juan Garcia plans the daily promotional releases about his company's products and services. He can be described as a __________ planner.
A. strategic
B. selective
C. tactical
D. niche
Question-10
Which of the following is one of the five major characteristics of good mission statements?
A. They focus on a large number of goals.
B. They expand the range of individual employee discretion.
C. They define the major competitive spheres within which the company will operate.
D. They take a short-term view.
Question-11
Rising promotion costs and shrinking profit margins are the result of:
A. new and improved technology.
B. disintermediation.
C. industry convergence.
D. heightened competition.
Question-12
The __________ lays out the target markets and the value proposition that will be offered, based on an analysis of the best market opportunities.
A. organizational plan
B. strategic marketing plan
C. corporate tactical plan
D. corporate mission
Question-13
The success of online purchasing resulted in __________ in the delivery of products and services by intervening in the traditional flow of goods through distribution channels.
A. disintermediation
B. diversification
C. reduced competition
D. deregulation
Question-14
When companies measure the number of people who are willing and able to buy their products, they are measuring:
A. demand.
B. price elasticity.
C. real needs.
D. standard of living.
Question-15
James Frank has been put in charge of gathering marketing intelligence, disseminating it within his organization, and eventually directing action on the information. Mr. Frank's task is best described as part of the:
A. market-sensing process.
B. new-offering realization process.
C. customer acquisition process.
D. customer relationship management process.
Question-16
What are hollow corporations?
A. Companies that market their products through franchisees
B. Companies that have liabilities exceeding their assets
C. Companies that outsource all production to suppliers
D. Companies that do not have any physical presence and only operate online
Question-17
A characteristic of a __________ is that it can be a single business or collection of related businesses that can be planned separately from the rest of the company.
A. strategic business unit
B. subsidiary unit
C. merged unit
D. niche market unit
Question-18
If a marketer uses warehouses, transportation companies, banks, and insurance companies to facilitate transactions with potential buyers, the marketer is using a:
A. service channel.
B. distribution channel.
C. communication channel.
D. relationship channel.
Question-19
A(n) __________ is when a company might seek new businesses that have no
relationship to its current technology, products, or markets.
A. concentric strategy
B. diversification strategy
C. horizontal strategy
D. intensive growth strategy
Question-20
The __________ in the value chain cover the sequence of bringing materials into the business (inbound logistics), converting them into final products (operations), shipping out final products (outbound logistics), marketing them (marketing and sales), and servicing them (service).
A. operations processes
B. manufacturing processes
C. primary activities
D. secondary activities
