MKT 6301-Chapter 1
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| 1) Identify the statement that supports ubiquitous marketing department concept. | show 🗑
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| show | Answer: People from other departments may refrain from marketing efforts.
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| 3) Marketing is involved and necessary when: | show 🗑
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| 4) Marketing is pervasive in most developed economies due to: | show 🗑
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| 5) Which of the following is a plausible marketing observation? | show 🗑
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| 6) The marketing concept philosophy emphasizes the need to have a: | show 🗑
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| 7) Which of the following statements is not consistent with the marketing concept? | show 🗑
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| 8) A few customers cost more to serve than the revenues they generate. Identify the most appropriate way to handle these customers. | show 🗑
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| 9) A company that follows the marketing concept philosophy should: | show 🗑
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| 10) ________ driven approach is an aggressive, push-the-catalogue approach to marketing. | show 🗑
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| show | Answer: Increasing market share and volumes.
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| show | Answer: It might not deliver long term value to customers.
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| 13) Which of the following statements supports the sales driven approach to the marketplace? | show 🗑
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| 14) An organization spends heavy research and development and has a product focus. This organization is likely to have a ________ driven approach to the marketplace. | show 🗑
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| show | Answer: technology
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| show | Answer: Quality improvement in products can result in customer value.
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| 17) Which of the following is a disadvantage of an over-engineered product? | show 🗑
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| 18) Cross-tab Research Inc. is a research services company that offers market research services to companies worldwide. Which of the following types of companies would be great customers of Cross-tab? | show 🗑
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| show | Answer: marketing driven
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| 20) Which of the following observations is true about the market driven approach to marketplace? | show 🗑
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| 21) Which of the following is the disadvantage of marketing driven approach to the marketplace? | show 🗑
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| show | Answer: It makes customers buy things that they do not really want.
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| show | Answer: cross-functionally and cross-divisionally.
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| show | Answer: Marketing in these organizations translate benefits into products and services.
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| 25) According to the text, organizations can become customer-oriented by: | show 🗑
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| 26) Identify the question that is least significant in determining whether your organization is customer-oriented. | show 🗑
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| 27) The traditional value chain adopts a ________ oriented approach. | show 🗑
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| show | Answer: The value chain starts with the customer in the new perspective.
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| 29) Which of the following is not a component of the traditional value chain? | show 🗑
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| 30) What are the two dimensions of the four-quadrant model as presented by Gary Hamel and C.K. Prahalad? | show 🗑
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| 31) The danger associated with remaining customer-led is that: | show 🗑
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| 32) Customers will not always be able to tell you what products they want and need because: | show 🗑
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| show | Answer: product manager.
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| show | Answer: business-to-business products.
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| 35) Which of the following organizational structures will be suited for a company that sells business to business products? | show 🗑
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| 36) Which of the following is an example of internal change? | show 🗑
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| 37) Which of the following is an example of external change? | show 🗑
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| 38) The marketing manager's internal interactions include all of the following except: | show 🗑
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| show | Answer: they may find growth opportunities.
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| show | Answer: Marketing plan
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| show | Answer: it provides a concrete history of the product's strategies.
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| show | Answer: corporate strategic planning
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| 43) Which of the following is lowest in the hierarchy of planning? | show 🗑
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| 44) More general strategic planning occurs at: | show 🗑
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| 45) Marketing plans are constructed at: | show 🗑
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| show | Answer: Marketing plans are always forward looking.
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| 47) An audit is conducted: | show 🗑
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| 48) The purpose of performing an audit of the plan is: | show 🗑
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| 49) Based on ________, managers develop objectives, strategies, and programs for the product, product line, or closely related group of products. | show 🗑
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| show | Answer: historical data are collected and updated.
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| show | Answer: Production scheduling
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| show | Answer: enable managers to stay in touch with key aspects of business environment.
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| show | Answer: it was limited by its physical size.
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| show | Answer: Mobile phone usage is more in younger people than older people.
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| 55) ________ capabilities allow marketers to potentially locate customers when they are geographically proximate to a retail outlet. | show 🗑
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| 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 🗑
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| show | Answer: solutions.
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| show | Answer: experiences.
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| 59) Which of the following refers to multi channel distribution of products? | show 🗑
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| show | Answer: explore opportunities abroad
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| 61) Which of the following would persuade a firm to enter foreign markets? | show 🗑
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| 62) Traditional marketing focused on: | show 🗑
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| 63) Modern managers have to focus on: | show 🗑
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| show | Answer: Lifetime customer value
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| 65) Lifetime customer value refers to: | show 🗑
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| show | Answer: the lifetime value of the customer base.
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| 67) Dell allows its customers to add or remove functionalities from a core product while placing the order. This is an example of: | show 🗑
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| show | Answer: mass customization.
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| show | Answer: TV advertising
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| 70) Ubiquitous marketing department concept gives people who are not in marketing the sense that they are also responsible for performing marketing activities. | show 🗑
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| show | Answer: FALSE
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| 72) Customers are not always able to tell you what products they want. | show 🗑
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| 73) A marketing manager cannot be successful without spending a considerable amount of time talking to customers. | show 🗑
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| show | Answer: TRUE
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| 75) Customer focused marketing advocate serving all customers' needs at all costs. | show 🗑
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| 76) The marketing concept is entirely consistent with serving only segments of the customer population. | show 🗑
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| show | Answer: FALSE
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| 78) The sales organization is interested in volume, not profits. | show 🗑
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| show | Answer: FALSE
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| show | Answer: FALSE
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| show | Answer: FALSE
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| show | Answer: TRUE
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| 83) A major disadvantage of the marketing concept is that it is limited to current, expressed needs. | show 🗑
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| 84) In most occasions, customers will be able to tell what products they want and need. | show 🗑
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| show | Answer: TRUE
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| 86) Marketing plans contain guidelines for a product's marketing programs. | show 🗑
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| 87) A key feature of the marketing plan is that it is written. | show 🗑
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| show | Answer: FALSE
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| show | Answer: TRUE
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| show | Answer: TRUE
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| show | Answer: FALSE
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| 92) Personalization is a key attribute of mass customization. | show 🗑
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| show | Answer: Marketing is involved and necessary whenever an individual or organization has a choice to make. Choices are made in a wide variety of contexts and the influences and influencers can vary from context to context, and also from each other in the same situation. Marketing efforts should tempt an individual to choose one product over another.
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| 94) Name three reasons why marketing is a challenge within organizations. | show 🗑
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| 95) What are the different strategic approaches to the marketplace? | show 🗑
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| 96) Which strategic approach is consistent with the customer-focused marketing concept? Explain the concept. | show 🗑
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| 97) What is the major difference between the traditional version of value chain and the new perspective of value chain? | show 🗑
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| 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
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| show | Answer: A marketing plan is a written document containing the guidelines for the product's marketing programs and allocations over the planning period.
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| 100) Explain the concept of lifetime customer value. | show 🗑
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