What types of purchases and purchase decisions lend themselves to the Internet
or other web-based decision strategies? (Points : 2.5) rebuying
analyzing alternative products at an early stage
sorting out various purchase source options when there little need for the assurance of faceto-face relationships
all of the above support Internet or other Web-based strategies
Overall, it can be said that the unified goal of business legislation is to maximize
choice in the marketplace. Of the philosophies of marketing (Production,
Product, Sales, Marketing and Societal Marketing, which era has as its goal to
maximize choice in the marketplace? (Points : 2.5) Production Era
Product Era
Sales Era
Marketing Era
All of the following are ways that specific market issues related to price
discrimination can be effectively managed except: (Points : 2.5) Move the market - don't let it move you - introduce the next generation product developed in
conjuction with the customer
don't sell generic versions of a product to large customers - sell it only to distributors and
retail channels
"Package" a customized total offering for each customer that includes any special
component provisions - define that as a total offering that has minimum order quantities, and
would be developed in partnership with the customers
All of the above are effective marketing techniques to help avoid market issues related to
price discrimination.
For Value Networks and Integrated Supply Chain strategies to be successful they
must work to develop a portfolio of core competencies, include changing
strategies and models rapidly. Adaptability from this perspective is: (Points :
2.5) being able to adapt to short-term changes in demand
being able to adjust supply chain architecture to address a changing business environment
alignment of members' interests so that all members in the supply chain are pursuing the
same goal
none of the above answers are correct
Question 5 of 50All of the following are reasons why it is more difficult to do
competitive analysis in today's market than it was a decade of so ago, except:
(Points : 2.5) real and potential competitors may differ
the ability to determine new entrants is becoming significantly harder
emerging and growth markets are often less well-defined in terms of actual longer-term
needs
all of the above are correct Question 6 of 50The innovation translation approach to segmentation: (Points :
2.5) is based on finding targetable segments with a pre-determined set of variables that will
impact on market focus..
is more entrepreneurial and focuses on the translation of individual successes to a broader
market.
has been found through research to be an invalid means to appraoch segmentation.
all of the above answers are correct.
Question 7 of 50A weakness of using Technology Employed as a basis for
segmentation is: (Points : 2.5) There can still be a great deal of variation in needs and buying behavior within groups
formed around technology
Data are very often available organized by type of technology used in processes or products.
If technology evolution can be forecasted, this will translate into segmentation evolutoin.
Data are usually most available for demographic groupings because governments and trade
associations usually collect this data.
All of the following are marketing's responsibilities in the new product
development process: (Points : 2.5) understand the technology in depth
define and redefine current and future customer needs
motivate other company departments and organizations
use only one source to screen and select ideas from to enhance effectiveness
Question 9 of 50Why is it better to invest heavily in marketing during the early
stages of new product development process? (Points : 2.5) To ensure that thorough and efficient examination and evaluation is made of all of the
variables involved at the start rathen than when the process becomes more complex.
Customers are more likely to make a purchase decison in the beginning stage of NPD so the
company wants to make sure the customer is aware of the prodcut.
Competitors don't care what the company is doing during the early stages of NPD and it is a
good opportunity to get "the jump" on the competition.
All of the above are correct.
Question 10 of 50All of the following are stages in the Traditional New Product
Development model except: (Points : 2.5) Product Launch
Idea Generation
Business Case Analysis
Hand off to top management
Question 11 of 50The marketing mix and customs of an innovation-oriented firm
include all of the following except: (Points : 2.5) price is growth driven
place focuses on being needs efficient rather than broad availability leading edge is the product focus
promotion activities are proactive rather than reactive
Disruptive innovation focuses on proactive, breakthrough strategies. All of the
folloiwng actions are required to implement disruptive innovation except:
(Points : 2.5) separate the project or business unit responsibel for pursuing disruptive innovation from the
existing company with its established customers and business model
create a large sized business unit to allow for market growth in the initial opportunity
use an exploratory approach for finding the right market and the right way of addressing the
market
use processes and decision making rules appropriate to the new business model
Tactical Purposes of marketing objectives addressed by pricing: (Points : 2.5) achieve a target level of profitability
maximize profit for a new product
win the business of a new, important customer
keep competitors out of an existing customer base
Question 14 of 50You would use a price skimming strategy under all of the
following general conditions except: (Points : 2.5) the market is somewhat elastic
the market is somewhat inelastic
competitive entry is difficult if not altogether blocked
the marketer has a sustainable competitive advantage over any possible competition via
patents, availability
Question 15 of 50Forecasts in business to business marketing can be used to :
(Points : 2.5) assit in keeping goals, objectives, and performance targets within the range of what's
reasonable
aid in the communication with other elements of the business to ensure that manufacturing,
service, and logistics operations are planned to support the planned marketing activity and
anticipated sales level
serve as a check point to assess the validity of performance targets
all of the above answers are correct
Characteristics of Business to Business Selling include all except: (Points : 2.5)
long time period before selling effort pays off
repeated, ongoing relationships
pushy sales tactics
solution oriented, total system effort The motivator/problem solving seller role: (Points : 2.5) focuses on assisting customers in maximizing product value by providing advice and
customer education
updates customers about offerings, and attempts to convince customers about the value of
the offerings main role is taking orders and ensuring timely delivery of products
creates a partnership with the buying center that stimulates customers
Question 18 of 50All of the following are benefits of branding except: (Points :
2.5) increase awareness and recognition for your producrts and service
align your company to be viewed as the same as your competition
communicate and reinforce your organiation's mission and values
create a positive image in the minds of the targeted markets
Question 19 of 50Potential problems of Ingredient Branding include: (Points : 2.5) If InBranding suppliers are applied too widely, its differentiation potential is reduced and the
whole InBranding concept can become obsolete.
Many new InBrands are emerging in the health and life styles industries because customers
make conscious decisions about preferred ingredients.
There are no potential problems with InBranding - it continues to grow as a valuable
marketing technique.
None of the above responses are correct.
Question 20 of 50Business to business organizations may prefer to market
through channel intermediaries rather than market directly because: (Points :
2.5) to spread the financial risk with the intermediary rather than across a large selection of
possibly smaller customers
to share the selling risk to the extent a good channel intermidary should have an in-market
reputation, relationships, etc. with the right buyers
to enhance the collection of market information by using a channel intermediary sales staff
as an addition to any other sources being used
All of the above answers are correct.
Question 21 of 50Possession Economic Utility: (Points : 2.5) is concerned with the availability of the product or service when the buyer expects it
is concerned with the means by which the buyer gains ownership and/or usage rights of the
produt or service in a financial sense
is concerned with the useable state of the product or service as expected by the buyer
is concerned with the locational convenience preferred by the target market, as well as
delivery of a product or service expected by the buyer
Question 22 of 50Which one of the below has the greatest centralized control
systems? (Points : 2.5) Contractual Systems
Horizontal Sprawl
Value Networks
Conventional Systems
Administered Systems
Question 23 of 50Which one of the below is not an example of "noise" in a
communications model? (Points : 2.5) Jargon
Consistency of the message
Competition's messages
Misunderstanding
Rumors
Question 24 of 50Pull strategy is mostly used in consumer markets (Points : 2.5)
True
False
Question 25 of 50The purpose of PR activities is to generate awareness,
credibility, quality and reassurance of legitimacy (Points : 2.5) True
False
Question 26 of 50Balancing inventory, transportation and warehousing in efforts
to minimize costs at a given level of customer service is called: (Points : 2.5) Logistics
Material Requirement Planning
Physical Distribution Concept
Channel Design
Inventory Management
An automobile parts manufacturer that sells to both repair/service businesses as
well as GM, Honda, Chrysler would have: (Points : 2.5) One channel system for both
Separate channels for GM, Honda and Chrysler
No system
This company should not serve in both markets
It depends on the management vote
Question 28 of 50There are various types of relationships that can be defined in B
to B markets. A short duration with a minimum involvement type of relationship
is referred to as: (Points : 2.5) Long-Term Relationships
Multiple Transactions
Relational Exchange
Discrete Exchange
Partnering
The textbook mentions four forms of seller roles. One of these roles is referred to
as order taker. Which one of the statements below is not true regarding the order
taker role? (Points : 2.5) The role can be performed by a website
Sellers are rewarded based on short term results
Most selling efforts are concentrated on making potential customer's aware of stable product
offerings
Product types associated with this type of selling are usually in the late maturity or decline stages.
Customers rely on sellers for advice in the order taker role
Question 30 of 50Which one of the selling roles specifically focus on long term
relationships? (Points : 2.5) Missionary Sellers
Order takers
Door-to-Door sellers
Sales Managers
Marketing Managers
Question 31 of 50Intermediaries enable reduction in transaction costs and
complexity through offering efficiencies and special skills. (Points : 2.5) True
False
Ice cream producer purchasing a dairy farm is an example of: (Points : 2.5) Forward Vertical Integration
Backward Vertical Integration
Functional Spinoff
Franchising
Functional Partnership
Question 33 of 50Wal-Mart deciding to buyout its supplier is an example of
forward integration. (Points : 2.5) True
False
Question 34 of 50Fill in the blanks:
Two year colleges can be considered a .............. innovation for the four year college market
since they introduce an alternative for segments that may not be able to afford four year
colleges:
(Points : 2.5) Sustaining innovation
Radical Innovation
Disruptive Innovation
Breakthrough Innovation
Incremental Innovation
Question 35 of 50Adding new features to IPad by Apple, is a typical example of
radical innovation. (Points : 2.5) True
False
Question 36 of 50Value-based pricing is based on customer's perceived value and
creates prices that are consistent with the marketer's strategy. (Points : 2.5) True
False Question 37 of 50Resultant costs are actual costs incurred. (Points : 2.5) True
False
Question 38 of 50Price skimming requires a large group of customers who are
sensitive to low prices. (Points : 2.5) True
False
Question 39 of 50When do companies typically have economies of scale? (Points :
2.5) Introduction stage of PLC
Growth stage of PLC
Decline stage of PLC
Maturity stage of PLC
Development stage of PLC
Question 40 of 50There is an idealized marketing mix that best fits the market
environment in each stage of the PLC. (Points : 2.5) True
False
Question 41 of 50During the Decline stage of PLC, B2B sales increase (Points :
2.5) True
False
Innovations can be viewed as creation of new things but also as new and better
ways of doing what has been done before. Depending on this view point, all of the
following can be legitimate innovations except: (Points : 2.5) Designing for more efficient production
Less use of raw materials
Reduced environmental impact
More effective distribution systems
Increasing the sales force
Question 43 of 50PLC is most usable when viewed from the perspective of an
individual product category rather than at the level of an individual product
model or version. (Points : 2.5) True
False
Question 44 of 50Personal selling is the most costly communication method on a
cost per
contact basis. (Points : 2.5) True
False
Question 45 of 50Relationship marketing is a component of holistic approach to branding. (Points : 2.5) True
False
Which one of the below is not of the branding dimensions? (Points : 2.5) Brand identity
Competitive Positioning
Brand Awareness
Salesperson training
Competitive Positioning
Question 47 of 50Possession is not one of the parts of economic utility. (Points :
2.5) True
False
Question 48 of 50Which one of the below is a factor favoring the use of
distributor channels? (Points : 2.5) Product is somewhat generic
Customers are widely dispersed
Product has low unit value
Product requires local stock
All of them are factors favoring use of distributor channels.
Question 49 of 50Soft power bases are more quantitative in nature than hard
bases. (Points : 2.5)
True
False Question 50 of 50An investment in value image is an investment in social capital
of the organization (Points : 2.5) True
False

 

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