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44 Cards in this Set
- Front
- Back
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In the process of company-wide strategic planning, each business needs to have which of the following? |
Marketing objectives supporting the company's overall mission |
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Hulu's mission statement to "help people enjoy their favorite video content anytime, anywhere" is an example of a |
market-oriented definition |
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Glen is conducting a strategic planning retreat with his executive team. The first afternoon is devoted to creating the company's mission statement. Which of the following statements should Glen NOT offer his team as a guideline? |
The mission statement should focus on profits |
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Which of the following terms defines the process of evaluating products and businesses that make up a company? |
portfolio analysis |
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According to the BCG growth-share matrix model, a company looking for the most reliable way to build its share of a market would most likely |
invest in a star |
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Seth is examining his company's business portfolio within the growth-share matrix. He needs to make some decisions about how to maximize revenues, but he is unsure about the revenue potential of each category. Which of the following correctly lists the matrix categories in order from lowest to highest potential cash value? |
Dog, Question Mark, Star, Cash Cow |
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The Burger Bungalow chain has experienced rapid growth and now dominates the gourmet burger market. To increase revenue growth, the CEO has decided to purchase a unique and popular small chain of ramen noodle bars. Which growth strategy is the CEO pursuing? |
Diversification |
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Montel is director of a large gourmet cheese manufacturer. He is calling a strategy meeting of the company's value delivery network. Which of the following should Montel NOT invite to the meeting? |
the company's quality assurance manager who maintains product standards (no inter-company) |
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Which of the following is NOT a tool of the product dimension of the Four Ps?
- Design - Packaging - Inventory - Quality - Features |
inventory |
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Bunny Bites is a maker of organic baby food. After crafting a mission statement and examining the marketplace, the CEO has decided the marketing team should focus on professional, suburban women with family incomes over $150,000. The CEO's decision is an example of |
Market Targeting |
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Margo works for a company that makes environmentally sustainable cosmetics. She is in charge of developing the Promotion tools for the company's marketing mix. Which of the following is NOT in Margo's toolbox? |
seasonal discounts on high-volume products |
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Which term refers to the process of evaluating the results of marketing plans and taking appropriate corrective action? |
Marketing Control |
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In a SWOT analysis, what is the term for the category ranked as negative-internal? |
weakness |
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The growing popularity of tablet computers has led to a substantial drop in sales of desktop computers. Which of the following correctly depicts this scenario in a SWOT analysis for two companies? |
A tablet manufacturer sees an opportunity; a desktop manufacturer sees a threat |
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What is the definition of a marketing environment? |
the forces outside marketing that affect management's ability to maintain successful relationships with customers |
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Which of the following is NOT part of the micro-environment?
- competitors - a recession - the company - suppliers - customers |
a recession |
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Parker's Printing Company is a Dallas-based printing company that has been in business since 1965. Which of the following elements would fall under the category of the company's micro-environment? |
their principle paper supplier (market characteristics specific to their business) |
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Target, Home Depot, and Best Buy are examples of |
retail resellers |
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Which of the following is the definition of Generation X? |
49 million people born between 1965 and 1976 |
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What is the definition of economic environment? |
financial factors that affect consumer purchasing power and spending patterns |
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Manos is currently 62 years old nearing retirement. Into which of the following demographic categories does Manos fall? |
Baby Boomer |
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Kathleen is the director of marketing for the M-Que Company. She knows that the United States has a more diverse population now than at any other time in history. What impact does this have on Kathleen and marketers in general? |
a large one, since marketers will have to focus more on reaching different populations |
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Hattie's Hats is a small business that sells knit hats and scarves. It tends to sell more in the winter months than in the summer. This is directly related to the |
natural environment |
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Samuel's small business reaches many customers as a result of the popularity of social media. This is directly related to the |
technological environment |
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Which of the following statements about secondary beliefs is most likely accurate? |
secondary beliefs are more likely to change than core beliefs |
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A local company is in the midst of a public relations problem because a local animal rights group claims that the company tests their products on rabbits. Under which category does this problem fall? |
political environment |
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Which of the following is something a passive company would NOT do? |
develop an advertising campaign to shape the environment |
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Which word best describes a company that waits for other firms to establish new trends? |
Passive |
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A customer is not happy with a pair of boots she received from ShoeMart.com and posts negative comments about the shoes on several social media sites. How should SHoeMart.com most likely respond? |
contact the customer to resolve the situation |
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Customer insights are used to |
create customer value |
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An athletic clothing manufacturer wants to develop a new type of running shoe. What will help the firm tailor the design to give it a better chance of selling well? |
customer insights |
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Select the statement about marketing information systems that is FALSE |
marketing information systems are used in the employee hiring process |
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Which of the following is NOT a way that firms acquire competitive marketing intelligence? |
by having managers interview each other about their impressions of the firm |
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Which of the following statements about competitive marketing intelligence is most likely FALSE? |
It involves the analysis of exclusive and private data |
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A marketing analyst is searching information about company sales in an internal database. What is one of the problem he is likely to encounter? |
there is missing or incomplete information in the database |
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What is the definition of internal databases? |
electronic collections of consumer and market information obtained from data sources within the company network |
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What is the definition of causal research? |
marketing research to test hypotheses about cause-and-effect relationships |
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Which of the following best describes marketing research? |
collecting, analyzing, and reporting data relevant to a specific marketing situation |
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Select which of the following is NOT one of the ways a marketer of a clothing line would use marketing research. |
to find out why some clothing stores have shoplifting problems |
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What is the definition of an extranet? |
a system that allows value-network members to access information |
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A marketing manager at an electronic retailer is talking to his staff about customer touch points. Which of the following would the manager LEAST likely mention? |
Employee satisfaction surveys |
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A marketing analyst developed a customer relationship management system (CRM) for a local department store. What is the analyst's most likely objective?
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to understand shoppers better |
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A woman has just been hired as the marketing manager of a small business. Which of the following statements about the market information needs of her organization is true? |
small businesses rely on marketing information as much as large firms do |
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What is the definition of marketing information systems? |
people and procedures dedicated to assessing information needs |
