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 face-to-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         FalseÂ

  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         FalseÂ

 

Question 50 of 50An investment in value image is an investment in social capital of the organization (Points : 2.5)

       True 
       False 

 

 

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 face-to-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         FalseÂ

  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         FalseÂ

 

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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