Question 22. Company X’s principal strength is its

22. Company X’s principal strength is its inbound and outbound logistics system; its relative weakness, however, is after-sales service. Its competitor, Company Y, however is often plagued with lagging shipments and an inflexible distribution setup. Company Y remains successful because it maintains a fully staffed service department and, as a result, the company is known for its dependable service. This type of analysis allows them to identify ways to build on relative strengths and avoid dependence on capabilities at which the other firm excels.

Disaggregating
Past performance comparison
Benchmarking
Industry comparison

23. The ability to meet humanity’s needs without harming future generations is now a top priority in most corporate agenda

rules
righteousness
ethics
sustainability

24.Which component of a marketing audit includes major developments in income, prices, savings, and credit that affect the company?

Cultural
Political
Technological
Economic

25.Prestige LLC, a small company that manufactures specialty cereals and energy bars, wants to launch a “green marketing” program in response to heightened consumer awareness about environmental issues. What should the company do to maximize the program’s chances of being successful?

Explain the rules and regulations laid out by governmental agencies to protect the environment.

Demonstrate that the products will benefit both customers and the society in the long-term.

Emphasize benefits to the consumer rather than environmental benefits.

Focus on the efforts and costs incurred by the company to bring these “green” products to consumers.

26.The marketing manager needs to know the cost of the research project before approving it. During which stage of the marketing research process would such a consideration most likely take place?

Step 1 – defining the problem

Step 4 – analyzing the information

Step 2 – developing the research plan

Step 5 – drafting the report

27.New-to-the-world products are ________.

low-cost products designed to obtain an edge in highly competitive markets

existing products that are targeted to new geographical markets

new product enhancements that supplement established products

new products that create an entirely new market

28.A set of ideas on organizational control based on the belief that the separation of the ownership from management creates the potential for the wishes of owners to be ignored refers to

the moral hazard problem
ethical responsibilities
Adam’s theory
agency theory

29.Which control should periodically reassess its approach to the marketplace with a good marketing audit?

Marketing control
Strategic control
Ethical control
Performance control

30. BMW’s “The ultimate driving machine,” American Express’ “Don’t leave home without it,” New York Times’ “All the news that’s fit to print,” and AT&T’s “Reach out and touch someone” are all examples of ________.

brand slogan
brand mission
brand vision
brand personality