Prof JIM only (MKT 100 quiz 2)
Question 1 A ____ is something that an organization does extremely well and may give a company an advantage over its competition.Answer benchmark sustainable competitive advantage core competency strategic vision marketing opportunityQuestion 2 According to the Boston Consulting Group, marketers may classify their products as all of the following exceptAnswer dogs. cash contributors. question marks. stars. cash cows.Question 3 The Boston Consulting Group’s matrix is based on theAnswer idea that a firm’s market share and market attractiveness are the important factors for a marketing strategy. assumption that a firm’s actions have a profitable impact on marketing strategy. business position and market attractiveness of the firm. philosophy that a product’s market growth rate and its market share are important determinants of its marketing strategy. idea that a product’s market growth rate and market attractiveness determine the marketing strategy.Question 4 A competitive advantage that cannot be readily copied by the competition is referred to as a(n) ____ advantage.Answer controllable sustainable noncopyable effective implementableQuestion 5 Customer relationship management is facilitated by gathering useful data fromAnswer telephone interactions with customers. personal interactions with customers. online interactions with customers. all customer-contact points. all exchange transactions.Question 6 A marketing unit can be organized according to functions, products, regions, andAnswer sales. target markets. competitive units. types of customers. product features.Question 7 ____ strategy determines the means for utilizing resources in the functional areas of marketing, production, finance, research and development, and human resources to achieve the organization’s goals.Answer Corporate Business-unit Marketing Mission statement Marketing mixQuestion 8 An organization’s business goals should be derived from itsAnswer mission statement. strategic plan. strategic business plan. marketing plan. marketing strategy.Question 9 An expected level of performance against which actual performance can be compared is aAnswer standard performance. standard of excellence. step in sales analysis. performance standard. corrective standard.Question 10 Key factors in determining the best organizational structure for a marketing unit are theAnswer preferences of top management. fiscal resources of the firm. number of employees. diversity of the firm’s products and the characteristics and needs of the people in the target market. skill levels of employees.Question 11 To monitor changes in the marketing environment effectively, marketers must engage inAnswer environmental scanning and analysis. economic scanning self-regulatory analysis marketing research analysis information collectingQuestion 12 Consumerism is aAnswer diverse group of individuals and organizations opposed to foreign producers that sell products in the United States that are much cheaper than those produced by U.S. manufacturers. social movement that is trying to encourage consumer satisfaction. social movement that is reorganizing the Council of Better Business Bureaus. diverse group of individuals and organizations attempting to protect the rights of consumers. social movement that provides consumers with means for expressing satisfaction and expressing their gratitude to producers.Question 13 The accumulation of past income, natural resources, and financial resources is known asAnswer income. collected income. credit. wealth. savings.Question 14 In the near future, what subculture will become the second largest group in the United States?Answer Whites African Americans Asians Hispanics Native AmericansQuestion 15 Which of the following actions is illegal?Answer Political officials influencing how much a government agency purchases and from whom. Corporate contributions to candidates. Corporate contributions to elected officials. Political officials helping businesses secure foreign markets. Paying political officials not to enforce a particular law.Question 16 Marketing ethicsAnswer refers to laws and regulations that govern marketing. refers to principles and standards that define acceptable conduct in marketing. maximizes an organization’s positive impact and minimizes its negative impact on society. is most important for advertising agencies. applies well-defined rules for appropriate marketing behavior.Question 17 Who are the primary recipients of the benefits of strategic philanthropy?Answer Employees and investors Companies and society Primary stakeholders Managers and companies Society and communitiesQuestion 18 ____ competitors are the most significant to marketers because buyers see the different products of these firms as direct substitutes for each other.Answer Oligopolic Total budget Generic Product BrandQuestion 19 Various stakeholders and ____ determine the acceptable standards of conduct involving ethics.Answer the organizations’ ethical climate the federal government various self-regulating bodies governmental agencies the industry leaders’ ethicsQuestion 20 The 1990 Nutritional Labeling and Education Act directly prohibitsAnswer exaggerated claims made by health and fitness products. putting the words “cholesterol-free” on any food package. putting nutritional information on most food products. exaggerated health claims on food packages. the use of any health claim on food packaging.