Marketing 440 HM1-Which of the following secondary sources is MOST

29 Jun Marketing 440 HM1-Which of the following secondary sources is MOST

Question
Marketing 440 HM1

1 Which of the following secondary sources is MOST likely to indicate how a competitor plans to position their product?

A. promotional literature

B. 10K statements

C. annual reports

D. patent/trademark filings

E. annual reports

2 As compared to product managers, marketing managers are much more likely to be concerned with:

A. managing product portfolios.

B. developing tactics.

C. detailed adjustments to the short-term marketing mix.

D. short-term market share, volume, and profits.

3 In which of the following types of firms is the product manager MOST likely to rely on the Internet for direct customer feedback and new product ideas?

A. traditional consumer goods companies

B. consumer service firms

C. consumer durable goods companies

D. high-tech firms

E. packaged goods companies

4 Misidentification of the competitive set:

A. can spell failure for a long-run marketing plan.

B. creates uncertainty in market definition.

C. creates ambiguity in market-related statistics.

D. may make manipulation of market boundaries possible.

E. all of the above

5 The difficulty in planning is that it:

A. is based on historical information.

B. must anticipate future environments.

C. must anticipate future competitive actions.

D. must anticipate future consumer desires/actions.

E. all of the above

6 Which of the following is the “traditional” approach to determining the composition of a competitive set?

A. product form

B. generic competition

C. budget competition

D. market share

E. product category

7 Competition typically exists for:

A. customers.

B. suppliers.

C. distributors.

D. all of the above

E. none of the above

8 Category attractiveness is typically highest during the _________________ stage of the PLC.

A. growth

B. introduction

C. maturity

D. decline

E. attractive categories remain so throughout the PLC

9 Market attractiveness is enhanced by a high rating of all of the following market variables EXCEPT:

A. market size.

B. profit variability.

C. market growth.

D. profit level.

E. all of the above

10 All of the following are aggregate category factors EXCEPT:

A. category size.

B. category growth.

C. stage in product life cycle.

D. seasonality.

E. threat of new entrants.

11 Data collection for planning is subject to:

A. Murphy’s Law.

B. the law of diminishing returns.

C. Gestaltistic statistics.

D. the law of inverse proportionality.

E. the law of direct proportionality.

Question 12 In identifying sources of present and/or future competition, managers may rely upon:

A. experience.

B. salesmen call reports.

C. distribution.

D. any, or all, of the above

E. none of the above

13 Products and services are “tailored” to small groups through the process of:

A. market segmentation.

B. computerization.

C. mass customization.

D. specialization.

E. web “surfing”.

Question 14 All of the following are ADVANTAGES of the product management system EXCEPT:

A. clear locus of responsibility.

B. good training for future senior executives.

C. effective center for product advocacy.

D. encourages a broad understanding of customer needs.

E. clear source for product knowledge/information.

15 Which of the following types of primary information is MOST underused?

A. suppliers

B. the firm’s sales force

C. customers

D. competitor analysis

E. suppliers

16 A firm that has been losing market shares is likely to emphasize a _________________ objective.

A. consolidation

B. growth

C. profit maximizing

D. cost minimizing

E. line expansion

17 At the product level, a marketing strategy is composed of:

A. target market selection.

B. core strategy.

C. implementation.

D. all of the above

E. none of the above

18 The use of predefined categories provided by commercial data services and/or the US government could lead to completely overlooking:

A. product form competitors.

B. product category competitors.

C. generic and budget competitors.

D. all of the above

E. none of the above

19 Proctor and Gamble’s MDO approach seeks to use brand managers to create:

A. data bases.

B. customer businesses.

C. test markets.

D. new products.

E. distribution channels.

20 The marketing plan heavily relies on information derived from:

A. the sales force.

B. management information systems.

C. internal marketing research.

D. all of the above

E. none of the above

21 Which of the following types of product management structures is MOST closely associated with effective cost control?

A. the market/market structure

B. the firm/competitor structure

C. the management/marketing structure

D. the product/product structure

E. the market/distribution structure

22 of 50

Which of the following provides the most narrow perspective of competition?

A. product category

B. generic competition

C. product form

D. product share

E. market form

23 The attractiveness of a product category is impacted by:

A. aggregate factors.

B. category factors related to the major participants.

C. environmental factors.

D. all of the above

E. none of the above

24 The value chain approach asserts that a firm may differentiate through:

A. inbound logistics.

B. operations advantages.

C. outbound logistics.

D. all of the above

E. none of the above

25 The threat of new entrants:

A. diminishes the attractiveness of a category.

B. heightens concerns of increased competition and lower profits.

C. can be reduced by erecting barriers to competition.

D. all of the above

E. none of the above

26 All of the following statements about strategic planning are true EXCEPT:

A. Strategic planning is done at the highest levels of the firm.

B. Strategic planning focuses on broad objectives.

C. Strategic planning takes place at the business center level.

D. Strategies are, by nature, general.

E. Strategies typically focus on return on investment/assets.

27 Competitor analysis has received more attention in recent years as a result of:

A. increased competition for customers in slow growth markets.

B. shorter product life cycles.

C. technological advances.

D. the increasing importance of foreign competition.

E. all of the above

28 Basic to the success of ANY manager are:

A. communication skills.

B. technical expertise.

C. academic training.

D. quantitative.

E. team-building skills.

29 The internet:

A. has increased the rate of technological change.

B. has made more information easily available.

C. may create “information overload”.

D. has encouraged “continual planning”.

E. all of the above

30 Suppliers enjoy greater buying power when

A. suppliers are highly concentrated.

B. there are no substitutes for the product.

C. the supplier has differentiated its product.

D. supply is limited.

E. all of the above

31 The impact upon the sales of one brand resulting from a change in a marketing variable (often, price) of another brand is described by:

A. cross-elasticity.

B. cross-substitutability.

C. cross-complementation.

D. cross-purchases.

E. cross-marketing.

32 The MAJOR advantage of the market-focused organization derives from:

A. giving product managers full responsibility for, and control over, their products.

B. its support of the underlying product management system.

C. its focus on the customer.

D. its elevation of the product manager to “mini-CEO” status.

E. all of the above

33 Generally, secondary research:

A. is less expensive than primary research.

B. can be done more quickly.

C. can cover most research problems.

D. is easier to conduct than primary research.

E. all of the above

34 Which of the following is the latest addition to Porter’s industry assessment factors?

A. production/service capacity

B. threat of new entrants

C. amount of intra-category rivals

D. bargaining power of suppliers

E. threat of substitute products/services

35 All of the following are part of the Situation Analysis section of the marketing mix EXCEPT:

A. category analysis.

B. competitor analysis.

C. customer analysis.

D. planning assumptions.

E. executive summary.

36 Under _______________ competition, all products and services competing for the same customer dollar is viewed as forming a market.

A. product category

B. product form

C. market share

D. generic

E. budget

37 The product manger’s job involves all of the following activities EXCEPT:

A. market analysis.

B. developing product objectives and strategies.

C. coordination with other firm areas.

D. development of firm-wide marketing strategy.

E. “internal” marketing.

38 Competition may be:

A. customer-based.

B. marketing oriented.

C. resource-oriented.

D. geographic.

E. any/all of the above

39 All of the following statements about the impact of capacity upon category attractiveness are true

A. Chronic overcapacity is critical to high profits.

B. Operating at capacity drives costs down.

C. Operating at capacity enhances the firm’s buying power.

D. Operating at capacity is an indicator of category health.

E. All of the above are true.

40 The planning cycle is typically:

A. pursued on an ad hoc basis.

B. based on the firm’s fiscal year.

C. done semi-annually.

D. carried out daily.

E. executed monthly.