Chapter 2: Quiz 2 In Tutorial Library

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TITLE: Chapter 2: Quiz 2

UNIVERSITY / INSTITUTE: Purdue University

CLASS / COURSE: MGMT 324 Marketing Management

QUESTION DESCRIPTION:

This tutorial has Quiz 2 of course MGMT 324 Marketing Managment of Purdue University. 

1. In the 19th century, railroads may have let other forms of transportation take business away from them because their definition included only the railroad business, rather than the broader definition of 
 
  Student Response Value Correct Answer Feedback
A. transportation.    
B. mail delivery.  
C. entertainment.  
 D. services.  
E. wholesaling.  
 
2. Which of the following statements about a marketing dashboard is most true? 
 
  Student Response Value Correct Answer Feedback
A. The more detail that is displayed the better it is for the manager.  
B. Up to 20 marketing metrics are shown on the marketing dashboard screen.  
C. The marketing dashboard is updated weekly.  
D. Marketing dashboards often show key measures in words, not charts or graphs.  
 E. Marketing dashboards provide graphic displays of a product category's performance, such as sales, cost of sales, and percent margin.      
 
3. A key role of the marketing department is to 
 
  Student Response Value Correct Answer Feedback
 A. allocate financial resources across business units.    
B. set the overall mission of the company.  
C. provide talent management services.  
D. look outward.    
E. assess global political situations.  
 
4. Rhone-Poulenc is an international French company that produces and markets a variety of chemicals and pharmaceuticals. Due to the resources it makes available to its scientists and researchers, the company has a number of Nobel Prize winners working in its laboratories. This ability to attract some of the finest minds in the world to its workforce is an example of a(n): 
 
  Student Response Value Correct Answer Feedback
A. synergistic capacity.  
B. organizational culture.  
C. unsought benefit.  
 D. product development strategy.  
E. competency.    
 
5. In the Boston Consulting Group (BCG) model for analysis of a firm's strategic business units, or SBUs, the horizontal axis reflects the 
 
  Student Response Value Correct Answer Feedback
A. national forecast.  
B. business portfolio in dollars.  
C. years of experience.  
D. market segment size.  
 E. relative market share.    
 
6. __________ are SBUs with a low share of slow-growth markets—they may generate enough cash to sustain themselves, but they do not hold the promise of ever becoming real winners for the firm. 
 
  Student Response Value Correct Answer Feedback
A. Cash cows  
B. Stars  
C. Question marks  
 D. Dogs    
E. Problem children  
 
7. Using a BCG analysis, Kodak's ink-jet printers and cartridge business, is a(n) 
 
  Student Response Value Correct Answer Feedback
A. star.  
B. cash cow.  
 C. question mark.    
D. exclamation mark.  
E. shooting star.  
 
8. Several years ago, Black & Decker purchased General Electric's small appliances product line. Black & Decker purchased the line because it needed the cash infusion from a product line that had a dominant market share. The small appliance industry is a slow-growth one. The small appliances product line is most likely a __________ for Black & Decker. 
 
  Student Response Value Correct Answer Feedback
A. dog.  
B. cash cow.    
 C. question mark.  
D. star.  
E. problem child.  
 
9. Many people enjoy cereal at breakfast. Cereal manufacturers who promote cereal as a great late-night snack to the group of people who enjoy cereal at breakfast would be using a __________ strategy. 
 
  Student Response Value Correct Answer Feedback
 A. market penetration    
B. product development  
C. differentiation  
D. diversification  
E. differentiation focus  
 
10. Which market-product strategy requires no change in the product but requires a company to seek out new customers in new markets? 
 
  Student Response Value Correct Answer Feedback
A. market penetration  
B. market development    
C. product development  
 D. diversification  
E. all of the above  
 
11. Which market-product strategy involves selling a new product to existing markets? 
 
  Student Response Value Correct Answer Feedback
A. market penetration  
B. market development  
C. divestment  
D. diversification  
 E. product development    
 
12. Step 1 in the planning phase of the strategic marketing process is 
 
  Student Response Value Correct Answer Feedback
A. establishing the budget.  
B. developing advertising appeals.  
C. goal setting.  
D. marketing programming.  
 E. situation analysis.    
 
13. The acronym "SWOT" used in the term "SWOT analysis" stands for 
 
  Student Response Value Correct Answer Feedback
A. strengths, weaknesses, opportunities, and timing.  
B. strategies, workload, opportunities, and timing.  
 C. strengths, weaknesses, opportunities, and threats.      
D. simple, workable, optimal, and timely.  
E. situational, worldwide, organizational and technological.  
 
14. To develop a successful marketing plan for soda, __________ would most likely be used to group consumers on the basis of whether they wanted sugar-free and caffeine-free soda, caffeine-free sugared soda, or regular soda with sugar and caffeine. 
 
  Student Response Value Correct Answer Feedback
A. aggregation marketing  
 B. market segmentation    
C. market clustering  
D. profiling  
E. mass marketing  
 
15. Step 2 in the planning phase of the strategic marketing process is 
 
  Student Response Value Correct Answer Feedback
A. the situation analysis.  
 B. the market-product focus and goal setting.    
C. the marketing program.  
D. implementation.  
E. obtaining resources.  
 
 

 

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