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Marketing Management and Research: Key Concepts and Processes

Discusses marketing management and research.

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    Marketing Management and Research: Key Concepts and Processes 1) A ________ is a set of procedures and sources managers use to obtain everyday information about developments in the marketing environment. A. marketing research system B. marketing intelligence system C. vertical system D. product management system E. marketing information system 2) ________ is the difference between the prospective customer’s evaluation of all the benefits and all the costs of an offering and the perceived alternatives. A. Perceived usefulness B. Customer perceived value C. Competitors market share rate D. Report rating E. Failure avoidance rate 3) A(n) ________ is any good, service, or idea that is perceived by someone as new. A. product B. creative product C. new idea D. innovation 4) A company can take several steps to improve the quality of its marketing intelligence. If the company purchases competitive products for study, attends open houses and trade shows, and reads competitors’ published reports and stockholder information, the company is using ________ to improve the quality of its marketing intelligence. A. sales force surrogates B. advisory panels

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    C. customer feedback systems D. external networks E. intermediaries 5) Most established companies focus on ________ when it comes to innovation. A. incremental innovation B. demand innovation C. competitive innovation D. everyday innovation E. continuous innovation 6) ________ consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers. A. A marketing information system B. A promotional campaign C. A marketing database D. A marketing intelligence system E. A marketing research system 7) The value proposition consists of a cluster of benefits the company promises to deliver; it is A. customer expectations B. Customer loyalty to the company C. business processes D. total customer satisfaction E. customer experience with the company

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    8) Purchase decisions are based on how consumers perceive prices and what they consider tobe the ________ price — not the marketer’s stated price. A. current sale price B. current actual C. referent price D. last purchased price 9) A ________ consists of a group of customers who share a similar set of needs and wants. A. market segment B. market target C. market level D. market slice E. market group 10) Marketers usually identify niches by ________. A. examining the demographics section of The Handbook of Marketing B. dividing a segment into subsegments C. producing products that can be used in a variety of ways D. allowing consumers to gravitate toward product brands E. conducting VALS tests 11) Which of the following is generally considered to be the last step in the marketing research process? A. Make the decision. B. Present the findings. C. Draft the report D. Control the environment. E. Analyze the information.

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    12) ________ is the systematic design, collection, analysis, and reporting of data and findings relevant to a specific marketing situation facing the company. A. Demographics B. Marketing intelligence C. Marketing management D. Marketing research E. MIS (marketing information system) 13) With respect to the sampling plan, three decisions must be made. The decisions are: the sampling unit — who is to be surveyed? Sample size — how many people should be surveyed? And ________. A. sampling procedure — how should the respondents be chosen? B. sample cost — how much does sampling cost? C. sample supervisor — who will lead the sampling effort? D. sample security — how to protect the sample data? E. surveyor skill — who will do the surveying? 14) ________ communicates a company’s intended value positioning of its product or brand to the market. A. Promotion B. Packaging C. Physical evidence D. Place E. Price 15) “Power prices” use price as a key strategic tool. These “power prices” have discovered the highly ________ effect of price on the bottom line. A. direct B. dramatic C. soothing D. leveraged E. abrasive

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    16) Some intermediaries use the following: strategic planning, advanced information systems, sophisticated marketing tools, measure performance on a return - on - investment basis, segment their markets, improve their target marketing and positioning, and ________. A. dominant the manufacturers they do business with B. contend with dwindling customer bases C. aggressively pursue market expansion and diversification strategies D. aggressively pursue take over strategies E. aggressively “squeeze” manufacturer margins 17) Price has operated as the major determinant of buyer choice among poorer nations, among poorer groups, and with ________ products. A. similar B. identical C. commodity - type D. over the Internet 18) Major retailer types include the following EXCEPT ________. A. the Internet B. specialty store C. superstore D. catalog showroom E. discount store 19) Following the ________ approach to target market selection encompasses a strong knowledge of the segment’s needs, a strong market presence, and operating economies through specializing in production, distribution, and promotion. A. selective specialization B. market specialization C. full market coverage D. product specialization

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    E. single - segment concentration 20) To reach Generation Y, rock band Foo Fighters created a digital street team that sends targeted e - mail messages to members who “get the latest news, exclusive audio/video sneak previews, tons of chances to win great Foo Fighters prizes, and become part of the Foo Fighters Family.” Which of the following techniques for reaching Generation Y are the Foo Fighters using? A. Unconventional sports B. Computer games C. Online buzz D. Cool events E. Student ambassadors 21) A company can add new products through acquisition or development. The acquisition route can take three forms. The company can buy other companies, it can acquire patents from other companies, or it can buy a ________ or _________ from another company. A. license/receive permission B. franchise/co - brand C. franchise/acquire rights D. license/franchise 22) New - to - the - world products are ________. A. new products that allow a company to enter an established market for the first time B. new products that provide improved performance or greater perceived value and replace existing products C. existing products that are targeted to new markets or market segments D. new products that supplement established product lines (package sizes, flavors, and so on) E. new products that create an entirely new market 23) The chief disadvantage to a firm that decides to follow a product specialization strategy in selecting target markets is ________.

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    A. logistics can become a nightmare B. competitors can easily copy any new product introductions C. e - commerce becomes difficult for the company D. the product may be supplanted by an entirely new technology E. no synergy exists 24) Which of the following statements best defines a work group? A. A work group interacts primarily to share information, rather than to engage in work that requires joint effort. B. A work group consists of 3 or more people from across departmental or functional lines. C. A work group is a group comprised of 10 or more people D. A work group consists of 3 or more people who take on self - supervising responsibilities. E. The performance of a work group is generally greater than the sum of its inputs from individual members. 25) The traditional view of conflict is the belief that conflict is _____. A. natural B. situationally - dependent C. neutral D. necessary E. harmful 26) Which of the following is NOT included in the definition of conflict? A. disruption of tasks B. negative effects C. incompatibility D. something that is cared about E. perception 27) Which of the following statements about leadership is true? A. Formal rights enable managers to lead effectively.

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