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Marketing Management Quiz

Business Finance

Business Finance

Marketing Management Quiz

Marketing Management Quiz

Question Description

QUESTION 1

  1. Employees from different departments such as marketing, production, finance, and human resources are brought together to form a team responsible for creating a strategic plan to serve customers. This is an example of a _____.

QUESTION 2

  1. Run for the Cure is an annual marathon that raises money for conducting research on breast cancer. Marketers advertise through local media to attract participants and volunteers for the event. Which of the following types of marketing is depicted in this scenario?

QUESTION 3

  1. The _____ for a soft drink manufacturer would include other manufacturers of soft drinks, fruit juices, bottled water, sports drinks, caffeine-free colas, and dairy beverages.

QUESTION 4

  1. It is important for a mission statement to be _____ because it provides a shared sense of purpose outside the various activities taking place within the organization.

QUESTION 5

  1. Which of the following organizational growth strategies aims to find new customers for its present products?

QUESTION 6

  1. The mission statement of an organization should primarily have a(n) _____.

QUESTION 7

  1. While choosing an appropriate strategy to establish competitive advantage, management should choose an organizational strategy that:

QUESTION 8

  1. Which of the following statements best describes the role of marketing executives in the strategic planning process?

QUESTION 9

  1. _____ includes all the activities that lead to the development of a clear organizational mission, organizational objectives, and appropriate strategies to achieve the objectives for an entire organization.

QUESTION 10

  1. An organization’s mission statement must be _____ to be able to provide direction and guidelines to management when they are choosing between alternative courses of action.

QUESTION 11

  1. Which of the following is a difference between an organization with market orientation and an organization with production orientation in terms of interest in innovation?

QUESTION 12

  1. Which of the following changes in an organization’s environment will most likely result in the organization becoming a drifting organization?

QUESTION 13

  1. Elite Inc. is as a brand of luxury clothing and accessories, and it targets affluent working women. However, it alters its offerings to include a large proportion of standard clothes at cheaper prices when the country faces severe recessionary pressures. In this scenario, which of the following environments does Elite primarily respond to by changing its offerings?

QUESTION 14

  1. PureFruit Inc. prices its products higher than most of its competing brands in the packaged fruit juice industry. However, it still enjoys higher returns than its competitors because it is the only brand that can rightfully claim the use of fresh fruits and no added sugar. What kind of organizational strategy based on competitive advantage does PureFruit most likely use?

QUESTION 15

  1. Which of the following is a stage of the marketing planning process that involves the analysis of the past, present, and likely future in six major areas of concern?

QUESTION 16

  1. The final step of marketing planning is _____.

QUESTION 17

  1. Since September 11, 2001, the number of people attending church and looking toward religion to provide solace has increased. As a result, Bible publishers have developed the Starting Point Study Bible, which explains what they are reading and includes a dictionary of biblical terms. In this scenario, the changes in the _____ have led to the publication of the Starting Point Study Bible.

QUESTION 18

  1. The _____ involves a set of controllable variables that must be managed to satisfy the target market and achieve organizational objectives.

QUESTION 19

  1. If a firm chooses to succeed by building long-term relationships with its customers by offering either best price, best product, or best service, it implies that the firm’s organizational strategy is:

QUESTION 20

  1. Which of the following statements about an organization’s mission statement is true?

QUESTION 21

  1. The first step in controlling an implemented marketing plan is:

QUESTION 22

  1. Which of the following is the principle task of an organization with a market orientation?

QUESTION 23

  1. Which of the following is the first step in marketing planning?

QUESTION 24

  1. Which of the following is the greatest advantage of strategic planning with a cross-functional team?

QUESTION 25

  1. Essential Products Inc. manufactures a wide range of healthcare products for infants, toddlers, and adults. The company is not able to allocate large budgets for each of its product groups because of resource constraints, and it is making huge losses in most of its product groups. In the context of strategic planning, which of the following is the final phase that Essential Products Inc. should adopt to revive its business?

QUESTION 26

  1. Mealtimes was started as a fine-dining restaurant serving the most exotic European dishes in the city. The meals ran into several courses, and the restaurant was frequented by people looking for a fancy and leisurely meal. However, with changing times and needs of consumers, the restaurant altered its offerings to incorporate fast food like pizzas, burgers, and hot dogs. The company had to venture into new and different markets to maintain profitability. These new conditions and a redundant mission statement would most likely make the restaurant a _____.

QUESTION 27

  1. Emergo International Company conducts market research to find out the interests and needs of its customers. Based on the research reports, the organization devises plans to meet the customers’ needs and wants and manufactures products that are useful to them. Identify the marketing concept that Emergo International Company has adopted.

QUESTION 28

  1. The removal of tariffs on the import of Canadian lumber will adversely affect the U.S. lumber industry because Canada is able to produce lumber much more inexpensively than the U.S. This tariff removal is an example of how the _____ environment can affect businesses.

QUESTION 29

  1. The final step in controlling an implemented marketing plan is:

QUESTION 30

  1. Which of the following is an organizational strategy based on competitive advantage?

QUESTION 31

  1. The strategic plan at Steve Walden Inc. helps in the creation of functional area plans for its production, human resource, finance, and technology functions. This best demonstrates the process of:

QUESTION 32

  1. Identify the accurate statement regarding an effective mission statement.

QUESTION 33

  1. The purpose of the marketing concept is to rivet the attention of organizations on serving _____.

QUESTION 34

  1. Run with Scissors Inc., a hair salon, advertises its trendy and affordable offerings primarily through the use of social media. The type of strategy the hair salon uses can best be classified as marketing for a(n) _____.

QUESTION 35

  1. A cross-functional team responsible for the creation of its company’s marketing plan had to make adjustments to the marketing plan since the plan failed to meet the determined objectives. This implies that the cross-functional team is:

QUESTION 36

  1. In the context of situational analysis, the _____ includes the attitudes and reactions of the general public, social and business critics, and other organizations, such as the Better Business Bureau.

QUESTION 37

  1. Which of the following is the first component of a strategic plan?

QUESTION 38

  1. In determining its mission statement, an organization must:

QUESTION 39

  1. Zest Sports Inc. manufactures sports goods and recently introduced a new line of sportswear for children between the ages of seven and ten years. The marketing team envisions an entirely new marketing strategy to create exchange for its new line of sportswear. This best exemplifies _____.

QUESTION 40

  1. The things that an organization does so well that they give it an advantage over similar organizations represent that organization’s _____.

QUESTION 41

  1. Beryl Toys makes toys for children of ages three and above, while Lobster-Price makes toys for infants. In 1999, Beryl Toys acquired Lobster-Price for $1.1 billion. This acquisition gave Beryl Toys a new product line aimed at the younger siblings of its current target market. In this scenario, Beryl Toys has most likely implemented a _____ strategy.

QUESTION 42

  1. Which of the following statements is true of strategic planning in well-managed institutions?

QUESTION 43

  1. Chello Inc., a large smartphone manufacturing company, has been selling the world’s cheapest smartphone, Zing. Recently, to increase its sales, Chello reduced the price of the phone even further. The marketing slogan for the Zing series is “The cheapest way to get smart.” Chello Inc. is most likely using a _____ in this scenario.

QUESTION 44

  1. When using a cost leadership strategy, a firm is most likely to offer:

QUESTION 45

  1. An organization’s mission statement is described as not ruling out any opportunity management might wish to pursue. This mission statement is most likely to be _____.

QUESTION 46

  1. Which of the following statements is true according to the model developed by Michael Porter for formulating organizational strategy?