QN1. Effective —– is a practical, purposeful and positive approach of improving the company results.
Answer: Product management
QN2. A commodity can also be anything widely available in the —– market.
Answer: Open
QN3. The product —– path is desirable because it keeps the customer and reduces customer reacquisition costs.
Answer: Upgrade
QN4. The dynamics of markets, technology, and competition have brought changes to virtually every market sector and have made —– development one of the most powerful business activities.
Answer: New product
QN5. —– is the process of distinguishing the differences of a product or offering from others.
Answer: Product differentiation
QN6. Product planning, as opposed to product management, deals with more —– tasks.
Answer: Outbound marketing
QN7. Developers are focused on the technology and not the overall —–
Answer: Product
QN8. A —– organization is in constant touch with the customers.
Answer: Market oriented
QN9. —– structure is used by big companies who serve a large number of customers.
Answer: Market oriented
QN10. Every marketing organization should possible future growth and acceptable philosophy to the
Answer: Whole concern
QN11. In —– marketing organization, separate groups are designated responsible for marketing classes of their different classes of customers.
Answer: Customer oriented
QN12. In marketing, a —– is anything that can be offered to a market that might satisfy a want or need.
Answer: Product
QN13. —– are accountable to executive management for overall product direction.
Answer: Product managers
QN14. —– is an organization that markets one or more systems, applications, and/or components produced by a development organization to potential customer organizations.
Answer: Marketing Organization
QN15. —– is the most simple and common type of marketing organization.
Answer: Function Oriented
QN16. Marketing plan objectives, strategies, and mix decisions are influenced by the firm’s:
(a) mission (b) objectives and strategies
(c) policies and resources (d) all of the above
Answer: all of the above
QN17. A marketing plan is a written document for all the below reasons except:
(a) produces disciplined thinking (b) gets the plan out of the marketing managers head
(c) to publish externally (d) vehicle of communication across internal functional
areas.
Answer: to publish externally
QN18. In reality, which of the following is often overlooked or at least given minimal effort in the marketing plan process?
(a) Talking with other marketing managers
(b) Competitor, Industry and Customer analysis
(c) Working on the marketing mix
(d) None of the above
Answer: Competitor, Industry and Customer analysis
QN19. When identifying competition, product managers usually focus the current competition or product form of competition. Why is this a significant issue?
(a) It leads the product manager to overlook other potentially serious competitors.
(b) It leads the product manager to focus on generic competitors.
(c) It leads the product manager to focus on how competitors are pricing.
(d) They are lazy.
Answer: It leads the product manager to overlook other potentially serious competitors.
QN20. Which of the following is not a category factor?
(a) Bargaining power of suppliers (b) Bargaining power of buyers
(c) Pressure from substitutes (d) Pressure from international agencies
Answer: Pressure from international agencies
QN21. Environmental factors attempt to take into account and analyze factors that are not in the
companies control when assessing category attractiveness.
(a) The statement is TRUE.
(b) The statement is FALSE.
(c) This statement is unrelated to the topic.
(d) This statement is true in certain conditions and false in others.
Answer: The statement is TRUE.
QN22. Competitor analysis utilizes many methods of analysis to help predict competitor future strategies and programs.
(a) The statement is TRUE.
(b) The statement is FALSE.
(c) This statement is unrelated to the topic.
(d) This statement is true in certain conditions and false in others.
Answer: The statement is TRUE.
QN23. Market potential and sales forecasting attempt to quantify sales. In general, which of the following is true?
(a) Sales forecasting leads to larger sales estimates than Market potential.
(b) They both lead to the same sales estimates.
(c) Sales forecasting leads to smaller sales estimates than Market potential.
(d) None of the above.
Answer: Sales forecasting leads to smaller sales estimates than Market potential.
QN24. Developing marketing strategies do which one of the following?
(a) They enhance coordination among functional areas of the organization.
(b) Defines how resources are to be allocated.
(c) Leads to superior market position.
(d) All of the above.
Answer: All of the above.
QN25. After product positioning themes are identified, they need to be screened. Two for the four uses for screening questions are to ensure the positioning is meaningful to customers, and are they competitively sensible.
(a) The statement is TRUE.
(b) The statement is FALSE.
(c) This statement is unrelated to the topic.
(d) This statement is true in certain conditions and false in others.
Answer: The statement is TRUE.
QN26. Which of the following are good criteria for customer segmentation?
(a) The segment is of relatively large size.
(b) The segment is reachable.
(c) The segment members are stable over time.
(d) All of the above.
Answer: All of the above.
QN27. If little attention is paid to a brand by the firm, which of the following is most likely for brand equity:
(a) it is hard to build and hard to harm.
(b) it is easy to build and hard to harm.
(c) it is hard to build and easy to harm.
(d) it is easy to build and easy to harm.
Answer: it is hard to build and easy to harm.
QN28. Marketing strategies, especially basic customer strategies, will most likely stay the same over the entire product life cycle.
(a) The statement is TRUE.
(b) The statement is FALSE.
(c) This statement is unrelated to the topic.
(d) This statement is true in certain conditions and false in others.
Answer: The statement is FALSE.
QN28. Which of the following is not a environmental factor?
(a) Technology
(b) Social customs
(c) Regulatory practices
(d) Marketing plan
Answer: Marketing plan
QN29. Which of the following is not a reason for supplier bargaining power to be high?
(a) The market is dominated by a few large suppliers rather than a fragmented source of supply
(b) There are many substitutes for the particular input
(c) The customers are fragmented, so their bargaining power is low
(d) The switching costs from one supplier to another are high
Answer: There are many substitutes for the particular input
QN30. Out of the following which one is the source of competitor information?
(i) Observable data (ii) Experimental data
(iii) Meaning data (iv) Search data
Answer: Observable data
QN31. Which one is not the part of Porter’s competitor analysis framework?
(i) Competitors objectives (ii) Competitors assumption
(iii) Competitors strategy (iv) Competitors condition
Answer: Competitors condition
QN32. —– is an activity that is or should be performed by organizations.
Answer: Competitor analysis
QN33. —– is the practice of dividing a customer base into groups of individuals that
are similar in specific ways relevant to marketing, such as age, gender, interests, spending habits, and so on.
Answer: Customer Segmentation
QN34. A —– usually implies increasing unit sales or market share, with profit conditions being secondary.
Answer: Growth objective
QN35. The two elements of a strategy are the segments it appeals to and the —–
Answer: Core strategy
QN36. Which one concerns the production capabilities of the firm?
(i) Ability to produce (ii) Ability to finance
(iii) Ability to market (iv) None
Answer: Ability to produce
QN37. —– is an activity that is or should be performed by organizations.
Answer: Customer analysis
QN38. Customer needs are the expectations of the product buyers. (True/False)
Answer: True
QN39. Consumer behavior does not involve study of how people buy, what they buy, when they buy and why they buy. (True/False)
Answer: False
QN40. Segmentation by sex is related to geographic segmentation. (True/False)
Answer: False
