Marketing Management and Research: Key Concepts and Processes

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Marketing Management and Research: Key Concepts and Processes1)A ________ is a set of procedures and sources managers use toobtain everyday information about developments in the marketingenvironment.A.marketing research systemB.marketing intelligence systemC.vertical systemD.product management systemE.marketing information system2)________ is the difference between the prospective customer’sevaluation of all the benefits and all the costs of an offering and theperceived alternatives.A.Perceived usefulnessB.Customer perceived valueC.Competitors market share rateD.Report ratingE.Failure avoidance rate3)A(n) ________ is any good, service, or idea that is perceived bysomeone as new.A.productB.creative productC.new ideaD.innovation4)A company can take several steps to improve the quality of itsmarketing intelligence. If the company purchases competitiveproducts for study, attends open houses and trade shows, and readscompetitors’ published reports and stockholder information, thecompany is using ________ to improve the quality of its marketingintelligence.A.sales force surrogatesB.advisory panels

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C.customer feedback systemsD.external networksE.intermediaries5)Most established companies focus on ________ when it comes toinnovation.A.incremental innovationB.demand innovationC.competitive innovationD.everyday innovationE.continuous innovation6)________ consists of people, equipment, and procedures togather, sort, analyze, evaluate, and distribute needed, timely, andaccurate information to marketing decision makers.A.A marketing information systemB.A promotional campaignC.A marketing databaseD.A marketing intelligence systemE.A marketing research system7)The value proposition consists of a cluster of benefits thecompany promises to deliver; it isA.customer expectationsB.Customer loyalty to the companyC.business processesD.total customer satisfactionE.customer experience with the company

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8)Purchase decisions are based on how consumers perceive pricesand what they consider tobe the ________ price—not the marketer’sstated price.A.current sale priceB.current actualC.referent priceD.last purchased price9)A ________ consists of a group of customers who share a similarset of needs and wants.A.market segmentB.market targetC.market levelD.market sliceE.market group10)Marketers usually identify niches by ________.A.examining the demographics section of The Handbook ofMarketingB.dividing a segment into subsegmentsC.producing products that can be used in a variety of waysD.allowing consumers to gravitate toward product brandsE.conducting VALS tests11)Which of the following is generally considered to be the last stepin the marketing research process?A.Make the decision.B.Present the findings.C.Draft the reportD.Control the environment.E.Analyze the information.

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12)________ is the systematic design, collection, analysis, andreporting of data and findings relevant to a specific marketingsituation facing the company.A.DemographicsB.Marketing intelligenceC.Marketing managementD.Marketing researchE.MIS (marketing information system)13)With respect to the sampling plan, three decisions must bemade. 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 bechosen?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 itsproduct or brand to the market.A.PromotionB.PackagingC.Physical evidenceD.PlaceE.Price15)“Power prices” use price as a key strategic tool. These “power prices”have discovered the highly ________ effect of price on the bottom line.A.directB.dramaticC.soothingD.leveragedE.abrasive

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16)Some intermediaries use the following: strategic planning, advancedinformation systems, sophisticated marketing tools, measure performanceon a return-on-investment basis, segment their markets, improve theirtarget marketing and positioning, and ________.A.dominant the manufacturers they do business withB.contend with dwindling customer basesC.aggressively pursue market expansion and diversificationstrategiesD.aggressively pursue take over strategiesE.aggressively “squeeze” manufacturer margins17)Price has operated as the major determinant of buyer choice amongpoorer nations, among poorer groups, and with ________ products.A.similarB.identicalC.commodity-typeD.over the Internet18)Major retailer types include the following EXCEPT ________.A.the InternetB.specialty storeC.superstoreD.catalog showroomE.discount store19)Following the ________ approach to target market selectionencompasses a strong knowledge of the segment’s needs, a strong marketpresence, and operating economies through specializing in production,distribution, and promotion.A.selective specializationB.market specializationC.full market coverageD.product specialization

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E.single-segment concentration20)To reach Generation Y, rock band Foo Fighters created a digital streetteam that sends targeted e-mail messages to members who “get the latestnews, exclusive audio/video sneak previews, tons of chances to win greatFoo Fighters prizes, and become part of the Foo Fighters Family.” Which ofthe following techniques for reaching Generation Y are the Foo Fightersusing?A.Unconventional sportsB.Computer gamesC.Online buzzD.Cool eventsE.Student ambassadors21)A company can add new products through acquisition or development.The acquisition route can take three forms. The company can buy othercompanies, it can acquire patents from other companies, or it can buy a________ or _________ from another company.A.license/receive permissionB.franchise/co-brandC.franchise/acquire rightsD.license/franchise22)New-to-the-world products are ________.A.new products that allow a company to enter an establishedmarket for the first timeB.new products that provide improved performance or greaterperceived value and replace existing productsC.existing products that are targeted to new markets or marketsegmentsD.new products that supplement established product lines(package sizes, flavors, and so on)E.new products that create an entirely new market23)The chief disadvantage to a firm that decides to follow a productspecialization strategy in selecting target markets is ________.

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A.logistics can become a nightmareB.competitors can easily copy any new product introductionsC.e-commerce becomes difficult for the companyD.the product may be supplanted by an entirely newtechnologyE.no synergy exists24)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 acrossdepartmental or functional lines.C.A work group is a group comprised of 10 or more peopleD.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 thesum of its inputs from individual members.25)The traditional view of conflict is the belief that conflict is_____.A.naturalB.situationally-dependentC.neutralD.necessaryE.harmful26)Which of the following is NOT included in the definition ofconflict?A.disruption of tasksB.negative effectsC.incompatibilityD.something that is cared aboutE.perception27)Which of the following statements about leadership is true?A.Formal rights enable managers to lead effectively.

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