Innovation and Marketing Intelligence: Key Concepts and Strategies

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Innovation and Marketing Intelligence: Key Concepts and Strategies1) 3M, Hewlett-Packard, Lego, and other companies use the ________ to manage theinnovation process.A.skunk worksB.new product “team”C.stage-gate systemD.joint-venture systemE.venture team2) A ________ is a set of procedures and sources managers use to obtain everydayinformation about developments in the marketing environment.A.vertical systemB.product management systemC.marketing research systemD.marketing information systemE.marketing intelligence system3) A(n) ________ is any good, service, or idea that is perceived by someone as new.A.creative productB.innovationC.productD.new idea4) A company can take several steps to improve the quality of its marketingintelligence. If the company purchases competitive products for study, attends openhouses and trade shows, and reads competitors’ published reports and stockholderinformation, the company is using ________ to improve the quality of its marketingintelligence.A.customer feedback systemsB.external networksC.sales force surrogatesD.intermediariesE.advisory panels

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5) ________ consists of people, equipment, and procedures to gather, sort, analyze,evaluate, and distribute needed, timely, and accurate information to marketingdecision makers.A.A marketing databaseB.A marketing intelligence systemC.A marketing information systemD.A marketing research systemE.A promotional campaign6) Most established companies focus on ________ when it comes to innovation.A.competitive innovationB.everyday innovationC.incremental innovationD.continuous innovationE.demand innovation7) ________ is the difference between the prospective customer’s evaluation of all thebenefits and all the costs of an offering and the perceived alternatives.A.Competitors market share rateB.Report ratingC.Perceived usefulnessD.Failure avoidance rateE.Customer perceived value8) ________ is the result of a concentrated effort by designers, engineers, andpurchasing agents to reduce the product’s overall costs.A. Experience curveB. Target costingC. Learning curveD. Least cost producer9) In ________ marketing, the seller engages in the mass production, massdistribution, and mass promotion of one product for all buyers.A. differentiatedB. general

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C. groupD. massE. segmented10) Marketers usually identify niches by ________.A. producing products that can be used in a variety of waysB. allowing consumers to gravitate toward product brandsC. dividing a segment into subsegmentsD. conducting VALS testsE. examining the demographics section of The Handbook of Marketing11) Which of the following is generally considered to be the last step in the marketingresearch process?A. Draft the reportB. Make the decision.C. Analyze the information.D. Control the environment.E. Present the findings.12) ________ is the systematic design, collection, analysis, and reporting of data andfindings relevant to a specific marketing situation facing the company.A. Marketing managementB. DemographicsC. MIS (marketing information system)D. Marketing researchE. Marketing intelligence13) With respect to the sampling plan, three decisions must be made. The decisionsare: the sampling unit—who is to be surveyed? Sample size—how many peopleshould be surveyed? And ________.A. sample supervisor—whowill lead the sampling effort?B. sampling procedure—how should the respondents be chosen?C. surveyor skill—who will do the surveying?D. sample security—how to protect the sample data?E. sample cost—how much does sampling cost?

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14) The marketing communications mix consists of six major modes ofcommunications. Which of the following is NOT one of these modes?A. AdvertisingB. PackagingC. Direct marketingD. Sales promotionsE. Personal selling15) Marketing communications can contribute to brand equity by establishing thebrand in memory and to________ (in)a brand image.A. craftB. create demandC. create interestD. communicate16) ________ communicates a company’s intended value positioning of its product orbrand to the market.A. Physical evidenceB. PromotionC. PriceD. PlaceE. Packaging17) To reach Generation Y, rock band Foo Fighters created a digital street team thatsends targeted e-mail messages to members who “get the latest news, exclusiveaudio/video sneak previews, tons of chances to win great Foo Fighters prizes, andbecome part of the Foo Fighters Family.” Which of the following techniques forreaching Generation Y are the Foo Fighters using?A. Online buzzB. Computer gamesC. Unconventional sportsD. Cool eventsE. Student ambassadors18) New-to-the-world products are ________.

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A. existing products that are targeted to new markets or market segmentsB. new products that provide improved performance or greater perceived value and replaceexisting productsC. new products that allow a company to enter an established market for the first timeD. new products that supplement established product lines (package sizes, flavors, and soon)E. new products that create an entirely new market19) Following the ________ approach to target market selection encompasses astrong knowledge of the segment’s needs, a strong market presence, and operatingeconomies through specializing in production, distribution, and promotion.A. full market coverageB. market specializationC. selective specializationD. product specializationE. single-segment concentration20) Price has operated as the major determinant of buyer choice among poorernations, among poorer groups, and with ________ products.A. commodity-typeB. similarC. identicalD. over the Internet21) Some intermediaries use the following: strategic planning, advanced informationsystems, sophisticated marketing tools, measure performance on a return-on-investment basis, segment their markets, improve their target marketing andpositioning, and ________.A. contend with dwindling customer basesB. aggressively pursue take over strategiesC. dominant the manufacturers they do business withD. aggressively “squeeze” manufacturer marginsE. aggressively pursue market expansion and diversification strategies

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22) “Power prices” use price as a key strategic tool. These “power prices” havediscovered the highly ________ effect of price on the bottom line.A. dramaticB. leveragedC. directD. abrasiveE. soothing23) A company can add new products through acquisition or development. Theacquisition route can take three forms. The company can buy other companies, it canacquire patents from other companies, or it can buy a ________ or _________ fromanother company.A. license/franchiseB. franchise/co-brandC. franchise/acquire rightsD. license/receive permission24) John Kotter’s view argues that management focuses on coping with complexity,whereas leadership focuses on coping with _____.A. conflictB. defeatC. moraleD. successE. change25) Leadership is best defined as _____.A. the ability to influence a group in goal achievementB. implementing the vision and strategy provided by managementC. coordinating and staffing the organization and handling day-to-day problemsD. keeping order and consistency in the midst of changeE. not a relevant variable in modern organizations26) Which of the following is NOT included in the definition of conflict?A. perceptionB. something that is cared about

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C. negative effectsD. disruption of tasks27) Negotiation can be defined as a process in which two or more parties exchangegoods or services and attempt to agree upon _____.A. the exchange rate for those goods and servicesB. a model of the negotiation process for resolving differencesC. effective arbitrators for disputesD. acceptable bargaining strategies for obtaining the goods and servicesE. the monetary value of the exchanged items28) _____ bargaining is negotiation that seeks to divide a “fixed pie.”A. DistributiveB. ReflectiveC. AffectiveD. IntegrativeE. Conjunctive29) Which of the following statements about leadership is true?A. leaders are managers.B. managers are leaders.C. leaders are hierarchically superior to followers.D. Formal rights enable managers to lead effectively.E. Nonsanctioned leadership is as important as or more important than formalinfluence.30) Danielle wants to become a surgeon, not only because achieving this goal willgive her self-respect and autonomy, but also because she wants a job with highstatus and recognition from others. Which of Maslow’s needs is Danielle trying tofill?A. self-actualizationB. esteemC. psychologicalD. socialE. safety

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