MKT 6301-Chapter 1
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
|
|
||||
|---|---|---|---|---|---|
| show | Answer: Marketing is what the people in the marketing department do.
🗑
|
||||
| show | Answer: People from other departments may refrain from marketing efforts.
🗑
|
||||
| show | Answer: the buyers have many choices.
🗑
|
||||
| show | Answer: increased competition.
🗑
|
||||
| 5) Which of the following is a plausible marketing observation? | show 🗑
|
||||
| 6) The marketing concept philosophy emphasizes the need to have a: | show 🗑
|
||||
| show | Answer: Customer needs should be served at all costs.
🗑
|
||||
| 8) A few customers cost more to serve than the revenues they generate. Identify the most appropriate way to handle these customers. | show 🗑
|
||||
| 9) A company that follows the marketing concept philosophy should: | show 🗑
|
||||
| show | Answer: Sales
🗑
|
||||
| 11) Which of the following is the main focus of a sales driven organization? | show 🗑
|
||||
| show | Answer: It might not deliver long term value to customers.
🗑
|
||||
| show | Answer: Market capitalization is the ultimate motive of a business.
🗑
|
||||
| show | Answer: technology
🗑
|
||||
| show | Answer: technology
🗑
|
||||
| 16) Which of the following statements supports technology driven approach to the marketplace? | show 🗑
|
||||
| show | Answer: The product will have unwanted features.
🗑
|
||||
| show | Answer: marketing driven
🗑
|
||||
| show | Answer: marketing driven
🗑
|
||||
| show | Answer: This kind of organization embraces marketing to excess.
🗑
|
||||
| 21) Which of the following is the disadvantage of marketing driven approach to the marketplace? | show 🗑
|
||||
| 22) Identify a criticism that is often associated with marketing. | show 🗑
|
||||
| 23) Strategic and tactical decisions in a customer-oriented organization should be made: | show 🗑
|
||||
| 24) Which of the following observations is true regarding a customer-oriented organization? | show 🗑
|
||||
| show | Answer: making strategic and tactical decisions interfunctionally and interdivisionally.
🗑
|
||||
| 26) Identify the question that is least significant in determining whether your organization is customer-oriented. | show 🗑
|
||||
| show | Answer: company
🗑
|
||||
| show | Answer: The value chain starts with the customer in the new perspective.
🗑
|
||||
| show | Answer: inbound marketing programs
🗑
|
||||
| 30) What are the two dimensions of the four-quadrant model as presented by Gary Hamel and C.K. Prahalad? | show 🗑
|
||||
| show | Answer: businesses may ignore unexploited opportunities.
🗑
|
||||
| show | Answer: customers are aware of only the problems that they have.
🗑
|
||||
| show | Answer: product manager.
🗑
|
||||
| show | Answer: business-to-business products.
🗑
|
||||
| 35) Which of the following organizational structures will be suited for a company that sells business to business products? | show 🗑
|
||||
| 36) Which of the following is an example of internal change? | show 🗑
|
||||
| 37) Which of the following is an example of external change? | show 🗑
|
||||
| show | Answer: suppliers.
🗑
|
||||
| show | Answer: they may find growth opportunities.
🗑
|
||||
| show | Answer: Marketing plan
🗑
|
||||
| show | Answer: it provides a concrete history of the product's strategies.
🗑
|
||||
| show | Answer: corporate strategic planning
🗑
|
||||
| show | Answer: annual marketing plan
🗑
|
||||
| 44) More general strategic planning occurs at: | show 🗑
|
||||
| show | Answer: SBU planning.
🗑
|
||||
| 46) Which of the following statements is true about marketing plans? | show 🗑
|
||||
| 47) An audit is conducted: | show 🗑
|
||||
| 48) The purpose of performing an audit of the plan is: | show 🗑
|
||||
| 49) Based on ________, managers develop objectives, strategies, and programs for the product, product line, or closely related group of products. | show 🗑
|
||||
| show | Answer: historical data are collected and updated.
🗑
|
||||
| 51) Which of the following is not a major part of a typical marketing plan? | show 🗑
|
||||
| 52) The overall purpose of the marketing plan is to: | show 🗑
|
||||
| show | Answer: it was limited by its physical size.
🗑
|
||||
| show | Answer: Mobile phone usage is more in younger people than older people.
🗑
|
||||
| 55) ________ capabilities allow marketers to potentially locate customers when they are geographically proximate to a retail outlet. | show 🗑
|
||||
| 56) You are running a retail apparel store. Which of the following technologies could help you locate customers so that you could send personalized messages and offers when they are geographically close to your store? | show 🗑
|
||||
| show | Answer: solutions.
🗑
|
||||
| 58) The interactions that a customer has with a company are termed: | show 🗑
|
||||
| show | Answer: clicks and mortar
🗑
|
||||
| 60) If you are a marketing manager and your home market is maturing, which of the following is the best strategy to follow? | show 🗑
|
||||
| show | Answer: low-growth markets
🗑
|
||||
| show | Answer: transactions.
🗑
|
||||
| 63) Modern managers have to focus on: | show 🗑
|
||||
| show | Answer: Lifetime customer value
🗑
|
||||
| 65) Lifetime customer value refers to: | show 🗑
|
||||
| 66) The value of a product or service can be quantified by calculating: | show 🗑
|
||||
| show | Answer: mass customization.
🗑
|
||||
| show | Answer: mass customization.
🗑
|
||||
| 69) Which of the following media were traditionally used by consumer products companies? | show 🗑
|
||||
| show | Answer: FALSE
🗑
|
||||
| show | Answer: FALSE
🗑
|
||||
| 72) Customers are not always able to tell you what products they want. | show 🗑
|
||||
| show | Answer: TRUE
🗑
|
||||
| 74) The environment in which marketing and marketers operate is dynamic and usually outside the control of marketing managers. | show 🗑
|
||||
| show | Answer: FALSE
🗑
|
||||
| 76) The marketing concept is entirely consistent with serving only segments of the customer population. | show 🗑
|
||||
| show | Answer: FALSE
🗑
|
||||
| show | Answer: TRUE
🗑
|
||||
| show | Answer: FALSE
🗑
|
||||
| show | Answer: FALSE
🗑
|
||||
| 81) A "marketing-driven" organization can quickly react to changes in the marketplace. | show 🗑
|
||||
| show | Answer: TRUE
🗑
|
||||
| show | Answer: FALSE
🗑
|
||||
| show | Answer: FALSE
🗑
|
||||
| 85) Marketing managers' interactions with suppliers are treated as external transactions. | show 🗑
|
||||
| 86) Marketing plans contain guidelines for a product's marketing programs. | show 🗑
|
||||
| show | Answer: TRUE
🗑
|
||||
| 88) During background assessment stage of a marketing plan, the manager analyzes the current competitive, customer, and category situation and determines how the firm's capabilities match these three external elements. | show 🗑
|
||||
| 89) The overall purpose of the marketing plan is to enable the marketing manager to stay in touch with the three key parts of the business environment crucial to his or her success: customers, competitors, and factors outside the control of both customers and competitors. | show 🗑
|
||||
| 90) Mobile phones are available to almost every socioeconomic stratum. | show 🗑
|
||||
| show | Answer: FALSE
🗑
|
||||
| show | Answer: FALSE
🗑
|
||||
| 93) Do you think marketing can influence choices? Explain your answer. | show 🗑
|
||||
| show | Answer: Unlike successful corporate financial, accounting, or production personnel, a marketing manager cannot be successful without spending a considerable amount of time talking to customers.
🗑
|
||||
| show | Answer: There are four different strategic approaches to the marketplace. They are sales driven, technology driven, marketing driven, and customer driven.
🗑
|
||||
| 96) Which strategic approach is consistent with the customer-focused marketing concept? Explain the concept. | show 🗑
|
||||
| show | Answer: The traditional version of the value chain dictates that the company starts with its core competencies and assets to decide what products to make or services to sell. This then dictates the selection of inputs and raw materials, which are then made into a product and sold through channels to the end customer. This is clearly a company-centric approach. The new perspective is to change the thought process by starting with the customer rather than the firm. This will result in a company that is struc
🗑
|
||||
| show | Answer: The marketing manager's job can be described by a large number of interactions both within and outside of the organization. External interactions include working with the company's or brand's advertising agency, dealing with suppliers, improving relationships with members of the channel of distribution system, talking about the firm's prospects with members of the media (e.g., business press, trade journals), and interacting with government agencies for export/import licenses. Marketing managers al
🗑
|
||||
| show | Answer: A marketing plan is a written document containing the guidelines for the product's marketing programs and allocations over the planning period.
🗑
|
||||
| show | Answer: The present value of a stream of revenue that can be produced by a customer is referred to as lifetime customer value. Marketers who can retain more customers by satisfying them better than competitors will have profitable products in the long run, not just in the short run.
🗑
|
Review the information in the table. When you are ready to quiz yourself you can hide individual columns or the entire table. Then you can click on the empty cells to reveal the answer. Try to recall what will be displayed before clicking the empty cell.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
To hide a column, click on the column name.
To hide the entire table, click on the "Hide All" button.
You may also shuffle the rows of the table by clicking on the "Shuffle" button.
Or sort by any of the columns using the down arrow next to any column heading.
If you know all the data on any row, you can temporarily remove it by tapping the trash can to the right of the row.
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
Created by:
lonehorse
Popular Marketing sets