91 test bank for marketing management knowledge and skills 10th edition

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91 Test Bank for Marketing Management Knowledge and Skills 10th Edition

by Peter Multiple Choice Questions - Page 1

Ecolon is a major manufacturer of wind turbines and related

equipment, and is also a leader in turbine installations and

maintenance In large organizations such as this, the marketing plans of individual departments are usually guided by 

1 a plans rolled out by the production unit.

2 b sales strategies of the marketing department.

3 c planning activities of the organizational units.

4 d strategic plans or blueprints for the entire organization.

The organization’s _ dictates the opportunities, constraints and threats that must be identified before a mission statement is

developed. 

1 a history

2 b culture

3 c environment

4 d competencies

The core things that an organization does well are known as its 

1 a distinctive values.

2 b distinctive competencies.

3 c distinctive ideals.

4 d distinctive technologies.

Organizations expand into new products, new markets and even new industries In this process, the organization’s original purpose may become irrelevant In these circumstances the organization can be best described as a 

1 a drifting organization.

2 b functional organization.

3 c horizontal organization.

4 d cooperative organization.

Candela Company’s goal is to sell 500 theatre lighting systems every year What can one conclude from this objective? 

1 a The company has a customer orientation.

2 b The company does not adhere to the marketing concept.

3 c The company is determined to satisfy customer needs.

4 d The company wants to use a customer focused strategy.

The organization’s mission, objectives, strategies, and its portfolio plan are the four major components of its 

1 a strategic plan.

2 b mission statement.

3 c sales strategy.

4 d marketing plan.

When the mission statement of an organization is focused on

markets rather than products, it means that the mission statement 

1 a has an external rather than an internal focus.

2 b needs to divert toward internal problems.

3 c needs to change its focus to services.

4 d is focusing on the narrow class of needs.

The true mission of a company is to provide value for three key constituencies, namely 

1 a investors, employees, and customers

2 b investors, customers, and politicians

3 c managers, employees, and customers

4 d employees, customers, and families

Effective marketing requires that _ come first in organizational decision making

1 a advertising strategies

2 b selling orientation

3 c production orientation

4 d consumer needs

Focusing on building long-term _ where the initial sale is

viewed as the beginning step and not as the end goal, is the crux of the marketing concept. 

1 a gross margins

2 b advertising campaigns

3 c investor relations

4 d customer relationships

Which of the following statements about a mission statement is true? 

1 a Even though no one denies the importance of the mission statement, it is the least used of all of the management tools.

2 b An effective mission statement takes an internal organizational focus.

3 c It should focus on the physical product or service that the organization is offering at present.

4 d It should focus on the broad class of needs that the organization is seeking

to satisfy.

Over three-quarters of the 100 largest U.S corporations of 70 years ago have fallen from the list because 

1 a of regulations that disallowed their business activities.

2 b of unfair trade practices.

3 c they failed to recognize that strategies need to reflect changing

environments.

4 d their mission was just to provide value for customers, employees, and

investors.

All of the following are key elements that the management must take into account while developing a statement of mission,

EXCEPT 

1 a the organization’s history.

2 b the organization’s distinctive competencies.

3 c the organization’s culture.

4 d the organization’s environment.

Fifteen years ago Frank and Emily Frazer started the Vidalia Onion Store for the purpose of sharing the taste of sweet Vidalia onions with the world In recent years, the couple has added other Georgia products, such as peanuts, peaches and pecans to its inventory, without changing the business’s name or its mission The store can now be described as a 

1 a drifting organization.

2 b customer oriented organization.

3 c competitive organization.

4 d changing organization.

The organization's environment provides the resources that sustain the organization In exchange for these resources, the organization must supply the environment with

1 a services without any additional cost.

2 b high priced but quality goods.

3 c quality goods at an acceptable price.

4 d community service at all times.

_, if performed successfully, plays a key role in achieving an equilibrium between the short and the long term by balancing

acceptable financial performance with preparation for inevitable changes in markets, technology, and competition, as well as in economic and political arenas. 

1 a Production planning

2 b Team planning

3 c Strategic planning

4 d Sales planning

Identify the type of marketing which is designed to attract donors, members, participants or volunteers. 

1 a Product

2 B Organization

3 c Place

4 d Cause

The purpose of the marketing concept is to rivet the attention of marketing managers on serving broad classes of 

1 a supplier needs.

2 b employee needs.

3 c management needs.

4 d customer needs.

The mission statement, or purpose, of an organization is the

description of its reason for 

1 a revenues.

2 b profitability.

3 c existence.

4 d growth.

Which of the following observations is true? 

1 a Companies should be managed principally for current cash flows.

2 b Firms that bet solely on the future are immune to takeover and other

threatening actions.

3 c An intense focus on the near term can produce risk aversion that may cause stagnation.

4 d Companies should focus solely on long run gains.

Which of the following is NOT a basic question an organization must answer when examining and restating its mission? 

1 a What is our business?

2 b Who is the customer?

3 c What do customers value?

4 d What is our sales strategy?

The guidelines for executing a marketing philosophy includes all of the following EXCEPT 

1 a Creating customer focus throughout the business.

2 b Managing the culture of your organization along with strategy and structure.

3 c Commitment to continuous improvement and innovation.

4 d Devising methods to attract customers to current products.

The Steakhouse is a restaurant selling steaks Its mission

statement was to provide its customers with the world’s best steaks Changes in consumer tastes resulted in fewer customers for the steakhouse The company had to venture into new and different markets to maintain profitability These new conditions and a

redundant mission statement would make the steakhouse a(n) 

1 a process related organization.

2 b dynamic organization.

3 c drifting organization.

4 d functional organization.

Zest sports, manufactures sports goods They introduce a new product targeted at children between ages 7 and 10 The marketing team envisions an entirely new marketing strategy for its sport

goods This is an example of which type of marketing? 

1 a Product

2 b Service

3 c Cause

4 d Place

An organization seeking to make a profit by serving the needs of customer groups is focusing on 

1 a customer orientation.

2 b production orientation.

3 c selling orientation.

4 d personal marketing orientation.

The customer will be more satisfied and the firm will be more

profitable when 

1 a organizations and customers have a long-term relationship.

2 b the sales process is product oriented.

3 c products are advertised frequently.

4 d products are sold at discounts at regular intervals.

The mission statement of a company should have a(n) 

1 a product focus.

2 b external focus.

3 c internal focus.

4 d service focus.

Which type of marketing would involve strategies to elect a political candidate? 

1 a Product

2 b Service

3 c Person

4 d Place

Midas Corporation is a sporting goods manufacturer Most of its energies and resources are devoted to one line of sporting shoes that has been a reasonable hit in the past The company is

exhibiting 

1 a production orientation.

2 b relationship management.

3 c customer orientation.

4 d investor Orientation.

Marketing managers can satisfy customers more efficiently in the present than anticipate changes in customer needs in the future Which of the following best explains this statement? 

1 a Organizations need more planning to devise better sales strategies.

2 b Marketing strategies should focus on production orientation.

3 c Managers need to first identify customer needs and then work backwards to devise products and services to satisfy these needs.

4 d Organizations need new customers; hence the need to manipulate

customers to do what suits the interests of the firm.

Riviera is a relatively new company that mines and crushes slate for use as mulch in gardens The managers of the company reviewed its short history, took into account the organization’s environment, and identified its distinctive competencies What are the managers

at Riviera trying to accomplish? 

1 a Develop a mission statement

2 b Distinguish between primary and secondary objectives

3 c Develop an effective marketing mix

4 d Evaluate its marketing plan

_ includes all the activities that lead to the development of a clear organizational mission, organizational objectives, and

appropriate strategies to achieve those objectives. 

1 a Strategic planning

2 b Organization’s growth

3 c Financial planning

4 d Media planning

91 Free Test Bank for Marketing Management

Knowledge and Skills 10th Edition by Peter Multiple

Choice Questions - Page 2

When an organization has formulated its mission and developed its objectives, the next managerial task is to develop 

1 a job descriptions.

2 b organizational strategies.

3 c mission and vision statements.

4 d cross-functional teams.

What is most likely wrong with the following mission statement for a store that sells lighting fixtures: “Our mission is to make sure every customer who buys a lighting fixture at our store is 100 percent satisfied with his or her purchase?” 

1 a The mission statement is not specific.

2 b The mission statement is not well framed.

3 c The mission statement cannot fulfill the organizational productivity.

4 d The mission is not achievable or realistic.

5.

The ability to outperform competitors in providing something that the market values, is called 

1 a diversification.

2 b market promotion.

3 c competitive advantage.

4 d market analysis.

At the supermarket, Linda noticed that her favorite stain remover now comes in spray bottles, 2 sizes of aerosol cans and a refill bottle Given this information and the fact that the stain remover has reduced its shelf price by 5 percent, you could say the manufacturer

of the stain remover has implemented a _ strategy. 

1 a market differentiation

2 b product development

3 c diversification

4 d market penetration

The Grand Ole Opry shows are played in an auditorium that is at best 75 percent full Most of the audience is over 50 One of the ideas suggested to increase its audience size and appeal to

younger country music fans is to use webcasts of the Opry shows

on the Internet In terms of organizational strategies, this is an

example of 

1 a market penetration.

2 b diversification.

3 c product focusing.

4 d market development.

Maintaining consistent levels of employee satisfaction with our own and similar industries could be a possible objective of which of the following areas of performance? 

1 a Market standing

2 b Worker performance and attitude

3 c Manager performance and responsibility

4 d Productivity

The marketing slogan, “It’s not just for breakfast anymore” has been very successful for the orange juice industry With this slogan, the orange juice industry is trying to get people who like a glass of

orange juice with their breakfast to consider having a glass at

another time of the day, like as an afternoon snack instead of a cola This slogan is most closely related to a 

1 a product diversification strategy.

2 b market penetration strategy.

3 c product development strategy.

4 d market integration strategy.

All of the following are some common shortcomings in mission statements, EXCEPT:

1 a They do not provide direction to decision makers when faced with

product/market choices.

2 b They are not motivational.

3 c They are too broad and do not rule out any opportunity management might wish to pursue.

4 d They are externally focused instead of having an internal focus.

Which of the following does NOT pertain to organizational

objectives? 

1 a They can be converted into specific action.

2 b They serve as a starting point for specific objectives at lower levels in the organization.

3 c They establish short-run priorities for the organization.

4 d They serve as standards against which overall organizational performance can be evaluated.

A product development strategy 

1 a involves seeking new products for customers not currently being served.

2 b offers product-line extensions of existing products to present customers.

3 c involves merely getting a product to a new market.

4 d deals with developing a production plan for a product.

Market development strategy involves 

1 a increasing the sale of present products to present customers.

2 b finding new customers for its present products.

3 c targeting present customers for the newly developed products.

4 d leading an organization into entirely new and unrelated businesses.

One of the potential sources of cross functional conflict for a

marketer includes the conflict of rigid budgets vs flexible budgets This is a conflict associated with which organizational function? 

1 a Finance

2 b Production Operation

3 c Accounting

4 d Research and development

The advertising for Bertolli spaghetti sauce states that it is the only leading brand of sauce made from tomatoes picked no more than

24 hours before they are used Therefore, Bertolli claims to taste more like homemade because it is fresher Identify the strategy used by Bertolli to gain competitive advantage. 

1 a Product development

2 b Diversification

3 c Product diversification

4 d Differentiation

If formulated properly, all of the following are end results of an

effective organizational objective, EXCEPT: 

1 a They can be converted into mission and vision statements

2 b They will provide direction and serve as a starting point for more specific and detailed objectives at lower levels in the organization

3 c They can establish long-run priorities for the organization

4 d They can facilitate management control because they serve as standards against which overall organizational performance can be evaluated

Betty’s, a fashion accessories company is continuously on the look-out to expand its market overseas This instance describes 

1 a market development.

2 b market segmentation.