29 Jun MKT 301-The difference between a firm’s immediate marketing environment
Question
1. The difference between a firm’s immediate marketing environment and its macroenvironment is that the
macroenvironment is
A. easier to control.
B. easier to understand.
C. fundamental to creating core competency.
D. external.
2. The firststep in conducting an STP analysis is
A. dividing the marketplace into subgroups.
B. repositioning existing segments.
C. generating a sum of segments.
D. targeting potential segments.
3. When a company considering expansion beyond its home territory begins to review demographic profiles
of the customers and profiles of regions it’s considering, it’s engaged in the important marketing function of
A. understanding customers.
B. economic analysis.
C. inventory analysis.
D. production efficiency.
4. The idea that a good product sells itself is associated with the _______ era of marketing.
A. production
B. marketing
C. value-based marketing
D. sales
5. When positioning products relative to competitors’ offerings, firms typically are mostsuccessful when
they focus on opportunities
A. that build on their strengths.
B. for diversification.
C. where value-based pricing can be ignored.
D. in international markets.
6. The centerpiece of the marketing environment analysis framework is
A. green marketing.
B. consumers.
C. corporate partners.
D. competitive intelligence.
7. The _______ made unfair and deceptive advertising illegal.
A. Telemarketing Sales Act
B. Wheeler-Lea Act
C. Federal Food and Drug Act
D. Consumer Product Safety Act
8. When conducting a SWOT analysis, in what phase of the strategic marketing process is an organization
presently engaged?
A. Planning
B. Segmentation
C. Control
D. Implementation
9. Almost every banker thinks his or her firm provides better service than their competitors. If this idea is
accurate, and customers recognize it, the bank creates and delivers value through _______ excellence.
A. product
B. customer
C. promotional
D. operational
10. Effective marketers are quite aware of the relationship among
A. Tweens, Beans, and Twinkies.
B. green, yellow, and red marketing.
C. education, income, and occupation.
D. cohorts, conflicts, and congestion.
11. Laws that prohibit the formation of monopolies or alliances that would damage a competitive
marketplace benefit consumers through
A. lower interest rates.
B. fair debt collection practices.
C. higher prices.
D. increased choices.
12. The Ethical Decision-Making Framework includes three of the following steps. Which is notpart of the
Ethical Decision-Making Framework?
A. Gathering information and identifying stakeholders
B. Brainstorming and evaluating alternatives
C. Identifying issues
D. Promoting the firm’s corporate social responsibility efforts
13. mostmarketers spend heavily on customer-retention programs because they recognize that customer
retention leads to
A. product design excellence.
B. increased long-term profits.
C. mission statement satisfaction.
D. sustainable price decreases.
14. Firms with strong ethical climates tend to
A. offer more goods and services than firms without strong ethical climates.
B. have lower profit margins.
C. make greater utilization of business development consultants.
D. be more socially responsible.
15. Products that may damage the environment, the use of sweatshop labor, and the marketing of
hazardous products are examples of
A. marketing social issues.
B. internal, controllable marketing issues.
C. managerial issues, but not marketing issues.
D. situational ethical issues.
16. When Mattel quickly recalled some of its toys upon learning of potential lead hazards, it used ethical
principles and approaches to
A. maintain its strong relationship with its customers.
B. make sure it didn’t get blamed for the problem.
C. minimize the damage by focusing on the few product lines affected.
D. shed unprofitable product lines and dispose of defective products.
17. Henry often observes the FedEx and UPS delivery people who bring packages to his law firm, counting
the number of packages they deliver to other law firms in the building. He also regularly reviews court
documents about upcoming cases to see which firms are representing clients. Henry is engaged in
A. intuitive diagnostics.
B. competitive intelligence.
C. macroeconomic variable analysis.
D. demographic data collection.
18. The idea of value-based marketingrequires firms to charge a price that
A. offers customer excellence above operational excellence.
B. covers costs and generates a modest profit.
C. includes the value of the effort the firm put into the product or service.
D. captures the value customers perceive they’re receiving.
19. The factors affecting the affecting consumers’ _______ environment include the actions of the focal
company, the company’s competitors, and the corporate partners.
A. recyclable
B. extended
C. immediate
D. disposable
20. The use of single sources of supply is often a potential _______ for a company.
A. legal problem
B. weakness
C. liability
D. threat
21. Evaluating each market segment’s attractiveness based on size, income, and accessibility is a function
of
A. target marketing.
B. market penetration estimation.
C. diversification.
D. situation analysis.
22. Which of the following growth strategies involves expanding marketing efforts toward existing
customers?
A. Diversification
B. Market development
C. Product development
D. Market penetration
23. Companies seek to develop a sustainable competitive advantage that can be maintained over a long
period of time and
A. appeals to financial analysts and potential shareholders.
B. is easy for employees to use and remember.
C. can be patented or registered to protect it as intellectual property.
D. is difficult for competitors to copy.
24. In mostcompanies, marketing resource allocation decisions are made at the SBU or _______ level of
the firm.
A. customer care
B. product line
C. corporate
D. accounting
25. Wal-Mart is often used as an example of a store that consumers love to hate. The opening of a new
Wal-Mart in an area often results in the decline of small, local businesses. Local groups often protest but,
End of exam
before long, find themselves shopping at Wal-Mart because Wal-Mart
A. benefits consumers through low prices and large assortment.
B. makes life easier for the remaining businesses.
C. benefits local communities through social-welfare programs.
D. offers better-quality products.
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