Question 1

A producer of frozen pasta dinners finds that its current target customers select among its frozen pasta dinners, going to a pizza restaurant, or staying home and eating an Italian sub sandwich. So the company set up a chain of pizza restaurants that also serve Italian sub sandwiches. This seems to be an effort at:

Accepted Answer

A)   market development.
B)   diversification.
C)   market penetration.
D)   product development.

Question 2

When a firm's domestic market is prosperous, marketing managers are less likely to pursue opportunities in international markets.

Accepted Answer

A) True 
 B)False

Question 3

An Embassy Suites hotel offers an inexpensive "Family Luncheon Buffet" on Sundays to get customers for its restaurant that is filled by business travelers during weekdays. This effort to get new customers for the available facility is an example of

Accepted Answer

A)   a production orientation.
B)   product development.
C)   market development.
D)   diversification.
E)   market penetration.

Question 4

Which of the following statements regarding marketing strategies is FALSE?

Accepted Answer

A)   It is useful to think of the marketing strategy planning process as a narrowing-down process.
B)   These strategies must meet the needs of target customers, and a firm is likely to get a competitive advantage if it just meets needs in the same way as some other firm.
C)   Developing successful marketing strategies doesn't need to be a hit-or-miss proposition.
D)   These strategies require decisions about the specific customers the firm will target and the marketing mix the firm will develop to appeal to that target market.
E)   Most companies implement more than one marketing strategy and related marketing plan at the same time.

Question 5

The marketing strategy planning process starts with a narrow look at a market, and becomes broader the closer the firm comes to developing a marketing mix.

Accepted Answer

A) True 
 B)False

Question 6

Heinz, in order to boost its sales, came up with ketchup in gross green and funky purple colors. It packaged the ketchup in EZ Squirt dispensers molded to fit little hands. This is an example of:

Accepted Answer

A)   Product development
B)   Market development
C)   Diversification
D)   Market penetration

Question 7

Promotion is composed of personal selling, advertising, publicity, and sales promotion.

Accepted Answer

A) True 
 B)False

Question 8

Ideally, a good marketing mix should:

Accepted Answer

A)   be very similar to the marketing mix typically used by key competitors.
B)   be determined by which marketing mix costs the least.
C)   not include much advertising because it's expensive and usually isn't very effective.
D)   flow logically from all the relevant dimensions of a target market.

Question 9

The ArrowPoint Company has just modified and enlarged its product line to meet the changing needs of its current customers. This is an example of "market development."

Accepted Answer

A) True 
 B)False

Question 10

______ is the expected earnings stream of a firm's current and prospective customers over some period of time.

Accepted Answer

A)   Profit
B)   Earnings
C)   Operating profit
D)   Customer equity
E)   Net value

Question 11

Happy Feet shoe company's strategic policy states "Carry as limited a line of colors, styles, and sizes as will satisfy the target market." This policy best relates to which decision area of the marketing mix?

Accepted Answer

A)   People
B)   Place
C)   Promotion
D)   Price
E)   Product

Question 12

Strategic planning is a top management job that includes planning only for marketing.

Accepted Answer

A) True 
 B)False

Question 13

When one considers the strategy decisions organized by the four Ps, branding is related to packaging as:

Accepted Answer

A)   branding is to pricing.
B)   production is to marketing.
C)   store location is to sales force selection.
D)   personal selling is to mass selling.
E)   pricing is to promotion.

Question 14

_______ means that the marketing mix is distinct from what is available from a competitor.

Accepted Answer

A)   Operational
B)   Visible
C)   Differentiation
D)   Competitive
E)   None of these is correct

Question 15

E-Z-Go, a producer of golf carts, promotes its carts to other users by advertising them as an easy and quiet way for workers to get around malls, airports, and big factories. E-Z-Go is trying to increase its sales through

Accepted Answer

A)   market penetration.
B)   differentiation.
C)   product development.
D)   market development.
E)   diversification.

Question 16

Which of the following best illustrates a "breakthrough opportunity?"

Accepted Answer

A)   A recording company's new CD gets unexpected national publicity on MTV and almost every teenager wants a copy for Christmas.
B)   A drug company develops a patented pill that people can take once a year and safely avoid catching a cold.
C)   A bank puts its credit card machines in convenient drive-up locations-so they will be more convenient for customers.
D)   A nurse realizes that the growing number of older people will increase the demand for nursing home services, so she quits her job and opens a quality nursing center for the elderly.
E)   A wireless phone company introduces a new service that offers more free weekend minutes than any other service in its market area.

Question 17

GreatGadgets, an Internet-based marketer of innovative gift items, decides to sell products in its own retail stores-to reach consumers who don't like to buy without first seeing the item in person. This is an example of:

Accepted Answer

A)   market development.
B)   diversification.
C)   market penetration.
D)   product development.

Question 18

Which of the following statements about target marketing is incorrect?

Accepted Answer

A)   Target marketing is not mass marketing.
B)   Mass marketers like Kraft and Walmart may conduct target marketing.
C)   Target marketing is not limited to small market segments.
D)   Target marketing assumes that everyone is different and specifies some particular target customers.
E)   Target marketing is associated with the typical production-oriented approach that aims at everyone with the same marketing mix.

Question 19

Developing a set of specific qualitative and quantitative screening criteria

Accepted Answer

A)   increases the different opportunities-and strategy possibilities-in the market.
B)   can make it difficult to zero in on the best target market and marketing mix.
C)   cannot help eliminate potential strategies that are not well suited for the firm.
D)   can help a manager define in which business and markets the firm wants to compete.
E)   highlights advantages of a strategy but does not make it clear why you should select that strategy.

Question 20

Scott Paper uses many intermediaries to reach its target markets; Citibank uses none. Which of the marketing mix variables is being considered here?

Accepted Answer

A)   Penetration
B)   Product
C)   Promotion
D)   Place
E)   Price

Exam 2: Marketing Strategy Planning

GreatGadgets, an Internet-based marketer of innovative gift items, decides to sell products in its own retail stores-to reach consumers who don't like to buy without first seeing the item in person. This is an example of:

Correct Answer
verified

When a firm's domestic market is prosperous, marketing managers are less likely to pursue opportunities in international markets.

Correct Answer
verified

When one considers the strategy decisions organized by the four Ps, branding is related to packaging as:

Correct Answer
verified

The marketing strategy planning process starts with a narrow look at a market, and becomes broader the closer the firm comes to developing a marketing mix.

Correct Answer
verified

The ArrowPoint Company has just modified and enlarged its product line to meet the changing needs of its current customers. This is an example of "market development."

Correct Answer
verified

Heinz, in order to boost its sales, came up with ketchup in gross green and funky purple colors. It packaged the ketchup in EZ Squirt dispensers molded to fit little hands. This is an example of:

Correct Answer
verified

Which of the following statements about target marketing is incorrect?

Correct Answer
verified

Which of the following statements regarding marketing strategies is FALSE?

Correct Answer
verified

Which of the following best illustrates a "breakthrough opportunity?"

Correct Answer
verified

Promotion is composed of personal selling, advertising, publicity, and sales promotion.

Correct Answer
verified

Ideally, a good marketing mix should:

Correct Answer
verified

Developing a set of specific qualitative and quantitative screening criteria

Correct Answer
verified

______ is the expected earnings stream of a firm's current and prospective customers over some period of time.

Correct Answer
verified

Strategic planning is a top management job that includes planning only for marketing.

Correct Answer
verified

E-Z-Go, a producer of golf carts, promotes its carts to other users by advertising them as an easy and quiet way for workers to get around malls, airports, and big factories. E-Z-Go is trying to increase its sales through

Correct Answer
verified

_______ means that the marketing mix is distinct from what is available from a competitor.

Correct Answer
verified

Correct Answer
verified

Happy Feet shoe company's strategic policy states "Carry as limited a line of colors, styles, and sizes as will satisfy the target market." This policy best relates to which decision area of the marketing mix?

Correct Answer
verified

Scott Paper uses many intermediaries to reach its target markets; Citibank uses none. Which of the marketing mix variables is being considered here?

Correct Answer
verified

An Embassy Suites hotel offers an inexpensive "Family Luncheon Buffet" on Sundays to get customers for its restaurant that is filled by business travelers during weekdays. This effort to get new customers for the available facility is an example of

Correct Answer
verified

Exam 2: Marketing Strategy Planning

GreatGadgets, an Internet-based marketer of innovative gift items, decides to sell products in its own retail stores-to reach consumers who don't like to buy without first seeing the item in person. This is an example of:

Correct AnswerverifiedShow Answer

When a firm's domestic market is prosperous, marketing managers are less likely to pursue opportunities in international markets.

Correct AnswerverifiedShow Answer

When one considers the strategy decisions organized by the four Ps, branding is related to packaging as:

Correct AnswerverifiedShow Answer

The marketing strategy planning process starts with a narrow look at a market, and becomes broader the closer the firm comes to developing a marketing mix.

Correct AnswerverifiedShow Answer

The ArrowPoint Company has just modified and enlarged its product line to meet the changing needs of its current customers. This is an example of "market development."

Correct AnswerverifiedShow Answer

Heinz, in order to boost its sales, came up with ketchup in gross green and funky purple colors. It packaged the ketchup in EZ Squirt dispensers molded to fit little hands. This is an example of:

Correct AnswerverifiedShow Answer

Which of the following statements about target marketing is incorrect?

Correct AnswerverifiedShow Answer

Which of the following statements regarding marketing strategies is FALSE?

Correct AnswerverifiedShow Answer

Which of the following best illustrates a "breakthrough opportunity?"

Correct AnswerverifiedShow Answer

Promotion is composed of personal selling, advertising, publicity, and sales promotion.

Correct AnswerverifiedShow Answer

Ideally, a good marketing mix should:

Correct AnswerverifiedShow Answer

Developing a set of specific qualitative and quantitative screening criteria

Correct AnswerverifiedShow Answer

______ is the expected earnings stream of a firm's current and prospective customers over some period of time.

Correct AnswerverifiedShow Answer

Strategic planning is a top management job that includes planning only for marketing.

Correct AnswerverifiedShow Answer

E-Z-Go, a producer of golf carts, promotes its carts to other users by advertising them as an easy and quiet way for workers to get around malls, airports, and big factories. E-Z-Go is trying to increase its sales through

Correct AnswerverifiedShow Answer

_______ means that the marketing mix is distinct from what is available from a competitor.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Happy Feet shoe company's strategic policy states "Carry as limited a line of colors, styles, and sizes as will satisfy the target market." This policy best relates to which decision area of the marketing mix?

Correct AnswerverifiedShow Answer

Scott Paper uses many intermediaries to reach its target markets; Citibank uses none. Which of the marketing mix variables is being considered here?

Correct AnswerverifiedShow Answer

An Embassy Suites hotel offers an inexpensive "Family Luncheon Buffet" on Sundays to get customers for its restaurant that is filled by business travelers during weekdays. This effort to get new customers for the available facility is an example of

Correct AnswerverifiedShow Answer

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