Marketing Concepts and Strategies: A Comprehensive Assessment

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Marketing Concepts and Strategies: A Comprehensive Assessment1)Total customer satisfaction is the general feeling of pleasure or disappointment that resultsfrom comparing perceived performance to expectations. To achieve total customer satisfaction,organizations need to_____________.A.Lower pricesB.Spend more moneyC.Lower expectationsD.Develop marketing campaignsE.Manage customer experiences2)________ consists of people, equipment, and procedures to gather, sort, analyze, evaluate, anddistribute needed, timely, and accurate information to marketing decision makers.A.A marketing databaseB.A marketing research systemC.A promotional campaignD.A marketing information systemE.A marketing intelligence system3)A company can take several steps to improve the quality of its marketing intelligence. If thecompany purchases competitive products for study, attends open houses and trade shows, andreads competitors’ published reports and stockholder information, the company is using________ to improve the quality of its marketing intelligence.A.customer feedback systemsB.intermediariesC.advisory panelsD.sales force surrogatesE.external networks

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4)A ________ is a set of procedures and sources managers use to obtain everyday informationabout developments in the marketing environment.A.vertical systemB.marketing information systemC.marketing intelligence systemD.marketing research systemE.product management system5)A(n) ________ is any good, service, or idea that is perceived by someone as new.A.creative productB.productC.new ideaD.innovation6)Most established companies focus on ________ when it comes to innovation.A.competitive innovationB.continuous innovationC.demand innovationD.incremental innovationE.everyday innovation7)The value proposition consists of a cluster of benefits the company promises to deliver; it isA.business processesB.customer experience with the companyC.customer expectations

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D.Customer loyalty to the companyE.total customer satisfaction8)In ________ marketing, the seller engages in the mass production, mass distribution, and masspromotion of one product for all buyers.A.differentiatedB.massC.segmentedD.groupE.general9)A firm has to consider many factors in setting its pricing policy. We list these as a six-stepprocess. Which of the following is NOT one of these steps?A.Selecting a pricing method.B.Selecting the final price.C.Selecting the pricing objective.D.Researching reference prices in the target market.E.Determining demand.10)________ is the result of a concentrated effort by designers, engineers, and purchasing agentsto reduce the product’s overall costs.A.Experience curveB.Least cost producerC.Target costingD.Learning curve11)Which of the following types of marketing research firms would best be described as one thatgathers consumer and trade information which they sell for a fee (e.g., Nielsen Media Research)?A.Non-profit marketing research firms

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B.General-line marketing research firmsC.Syndicated-service research firmsD.Specialty-line marketing research firmsE.Custom marketing research firms12)With respect to the sampling plan, three decisions must be made. The decisions are: thesampling unit—who is to be surveyed? Sample size—how many people should be surveyed? And________.A.sample supervisor—who will 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?13)A marketing manager needs to know the cost of the research project before approving it.During which step in the marketing research process would such a consideration most likely takeplace?A.Step 3—information collectionB.Step 2—develop the research plan.C.Step 1—creating decision alternatives.D.Step 1—drafting the research objectives.E.Step 1—defining the problem.14)To reach Generation Y, rock band Foo Fighters created a digital street team that sendstargeted e-mail messages to members who “get the latest news, exclusive audio/video sneakpreviews, tons of chances to win great Foo Fighters prizes, and become part of the Foo FightersFamily.” Which of the following techniques for reaching Generation Y are the Foo Fighters using?A.Online buzzB.Computer gamesC.Unconventional sports

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D.Cool eventsE.Student ambassadors15)A company can add new products through acquisition or development. The acquisition routecan take three forms. The company can buy other companies, it can acquire patents from othercompanies, or it can buy a ________ or _________ from another company.A.franchise/acquire rightsB.franchise/co-brandC.license/receive permissionD.license/franchise16)The chief disadvantage to a firm that decides to follow a product specialization strategy inselecting target markets is ________.A.e-commerce becomes difficult for the companyB.competitors can easily copy any new product introductionsC.logistics can become a nightmareD.the product may be supplanted by an entirely new technologyE.no synergy exists17)“Power prices” use price as a key strategic tool. These “power prices” have discovered thehighly ________ effect of price on the bottom line.A.soothingB.directC.abrasiveD.leveragedE.dramatic

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18)Following the ________ approach to target market selection encompasses a strong knowledgeof the segment’s needs, a strong market presence, and operating economies through specializingin production, distribution, and promotion.A.full market coverageB.product specializationC.selective specializationD.single-segment concentrationE.market specialization19)Major retailer types include the following EXCEPT ________.A.superstoreB.catalog showroomC.discount storeD.specialty storeE.the Internet20)________ communicates a company’s intended value positioning of its product or brand to themarket.A.Physical evidenceB.PlaceC.PriceD.PackagingE.Promotion21)Price has operated as the major determinant of buyer choice among poorer nations, amongpoorer groups, and with ________ products.A.commodity-type

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B.over the InternetC.similarD.identical22)The marketing communications mix consists of six major modes of communications. Which ofthe following is NOT one of these modes?A.AdvertisingB.Sales promotionsC.Direct marketingD.Personal sellingE.Packaging23)Some intermediaries use the following: strategic planning, advanced information systems,sophisticated marketing tools, measure performance on a return-on-investment basis, segmenttheir markets, improve their target marketing and positioning, and ________.A.aggressively pursue market expansion and diversification strategiesB.aggressively pursue take over strategiesC.aggressively “squeeze” manufacturer marginsD.contend with dwindling customer basesE.dominant the manufacturers they do business with24)Which of the following statements about leadership is true?A.Nonsanctioned leadership is as important as or more important than formal influence.B.managers are leaders.C.Formal rights enable managers to lead effectively.D.leaders are managers.E.leaders are hierarchically superior to followers.

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25)The traditional view of conflict is the belief that conflict is _____.A.neutralB.necessaryC.naturalD.harmfulE.situationally-dependent26)Negotiation can be defined as a process in which two or more parties exchange goods orservices and attempt to agree upon _____.A.effective arbitrators for disputesB.the exchange rate for those goods and servicesC.a model of the negotiation process for resolving differencesD.the monetary value of the exchanged itemsE.acceptable bargaining strategies for obtaining the goods and services27)Which of the following statements best defines a work group?A.A work group consists of 3 or more people from across departmental or functional lines.B.The performance of a work group is generally greater than the sum of its inputs from individualmembers.C.A work group consists of 3 or more people who take on self-supervising responsibilities.D.A work group is a group comprised of 10 or more peopleE.A work group interacts primarily to share information, rather than to engage in work thatrequires joint effort.28)John Kotter’s view argues that management focuses on coping with complexity, whereasleadership focuses on coping with _____.A.morale

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