Question 1

Although the customer should be the target of all marketing efforts,customers are not part of a marketing mix.

Accepted Answer

A) True 
 B)False

Question 2

The single most important factor in screening possible marketing opportunities is the long-run trends facing the company.

Accepted Answer

A) True 
 B)False

Question 3

Of the four types of opportunities firms can pursue,market penetration often appeals to marketers because ________.

Accepted Answer

A)   it requires the creation of new products
B)   it involves selling current products in familiar markets
C)   it involves selling current products in unfamiliar markets
D)   it doesn't require a more effective use of the marketing mix
E)   it is guaranteed to succeed

Question 4

Differentiation often requires a firm to fine-tune its marketing mix to meet the specific needs of its target market(s).

Accepted Answer

A) True 
 B)False

Question 5

Customer lifetime value ________.

Accepted Answer

A)   emphasizes a short-run approach to marketing management
B)   is basically a historical measure of how profitable a firm has been in the past
C)   applies to firms that target final consumers but not to firms that target business customers
D)   will increase if a firm increases its market share with a particular strategy
E)   considers what a customer purchases from a company over the lifetime of the relationship

Question 6

The customer equity concept

Accepted Answer

A)   encourages a manager to consider both the costs and the revenue from a marketing strategy.
B)   recognizes that customers are satisfied at a cost-and it is basically an estimate of a firm's future earnings.
C)   applies even to firms that pursue several different strategies.
D)   focuses on earnings as well as sales.
E)   All of these are part of the customer equity concept.

Question 7

Personal selling,mass selling,and sales promotion are all included in the Promotion area of the marketing mix.

Accepted Answer

A) True 
 B)False

Question 8

A producer of frozen pasta dinners finds that its current target customers select among its frozen pasta dinners,going to a pizza restaurant,or staying home and eating an Italian sub sandwich.So the company set up a chain of pizza restaurants that also serve Italian sub sandwiches.This seems to be an effort at:

Accepted Answer

A)   market development.
B)   diversification.
C)   market penetration.
D)   product development.

Question 9

When a firm tries to increase sales by offering new or improved products to its present markets,this is called "product development."

Accepted Answer

A) True 
 B)False

Question 10

Scott Paper uses many intermediaries to reach its target markets; Citibank uses none.Which of the marketing mix variables is being considered here?

Accepted Answer

A)   Penetration
B)   Product
C)   Promotion
D)   Place
E)   Price

Question 11

When AT&T advertises in THE WALL STREET JOURNAL that smartphones using its technology can make calls from more than 200 countries in the world,which market opportunity is AT&T pursuing?

Accepted Answer

A)   Market penetration
B)   Product development
C)   Diversification
D)   Market development

Question 12

Dell,Inc.wants to offer customers televisions in addition to computers.This is a change in its _____________________ strategy.

Accepted Answer

A)   Pricing
B)   promotional
C)   Personnel
D)   Product
E)   Placement

Question 13

The two parts of a marketing strategy are an attractive opportunity and a target market.

Accepted Answer

A) True 
 B)False

Question 14

When it comes to choosing among different types of opportunities,most firms tend to be production-oriented and usually think first of diversification.

Accepted Answer

A) True 
 B)False

Question 15

The marketing strategy planning process starts with a narrow look at a market,and becomes broader the closer the firm comes to developing a marketing mix.

Accepted Answer

A) True 
 B)False

Question 16

A marketing strategy ________.

Accepted Answer

A)   specifies a target market and a related marketing mix
B)   provides a focused but narrow picture of what a firm will do in some market
C)   is a market-oriented, whole-company plan
D)   includes two interrelated parts-product mix and product development
E)   includes the marketing mix, but does not specify customers

Question 17

The "four Ps" of the marketing mix are: People,Products,Price,and Promotion.

Accepted Answer

A) True 
 B)False

Question 18

The Place decisions are concerned with getting the right product to the target market at the right time.

Accepted Answer

A) True 
 B)False

Question 19

It's best to think of "breakthrough opportunities" as opportunities which ________.

Accepted Answer

A)   appeal to the mass market
B)   will quickly create a whole new industry of firms competing with similar marketing mixes
C)   help innovators develop hard-to-copy marketing mixes
D)   increase sales
E)   will take profit to the highest level

Question 20

The terms mass marketing and mass marketers mean the same thing.

Accepted Answer

A) True 
 B)False

Exam 3: Marketing Strategy Planning

A marketing strategy ________.

Correct Answer
verified

Scott Paper uses many intermediaries to reach its target markets; Citibank uses none.Which of the marketing mix variables is being considered here?

Correct Answer
verified

Personal selling,mass selling,and sales promotion are all included in the Promotion area of the marketing mix.

Correct Answer
verified

The two parts of a marketing strategy are an attractive opportunity and a target market.

Correct Answer
verified

The terms mass marketing and mass marketers mean the same thing.

Correct Answer
verified

The Place decisions are concerned with getting the right product to the target market at the right time.

Correct Answer
verified

Of the four types of opportunities firms can pursue,market penetration often appeals to marketers because ________.

Correct Answer
verified

The marketing strategy planning process starts with a narrow look at a market,and becomes broader the closer the firm comes to developing a marketing mix.

Correct Answer
verified

The single most important factor in screening possible marketing opportunities is the long-run trends facing the company.

Correct Answer
verified

The customer equity concept

Correct Answer
verified

When it comes to choosing among different types of opportunities,most firms tend to be production-oriented and usually think first of diversification.

Correct Answer
verified

Although the customer should be the target of all marketing efforts,customers are not part of a marketing mix.

Correct Answer
verified

Dell,Inc.wants to offer customers televisions in addition to computers.This is a change in its _____________________ strategy.

Correct Answer
verified

Correct Answer
verified

It's best to think of "breakthrough opportunities" as opportunities which ________.

Correct Answer
verified

Customer lifetime value ________.

Correct Answer
verified

When a firm tries to increase sales by offering new or improved products to its present markets,this is called "product development."

Correct Answer
verified

Differentiation often requires a firm to fine-tune its marketing mix to meet the specific needs of its target market(s).

Correct Answer
verified

When AT&T advertises in THE WALL STREET JOURNAL that smartphones using its technology can make calls from more than 200 countries in the world,which market opportunity is AT&T pursuing?

Correct Answer
verified

The "four Ps" of the marketing mix are: People,Products,Price,and Promotion.

Correct Answer
verified

Exam 3: Marketing Strategy Planning

A marketing strategy ________.

Correct AnswerverifiedShow Answer

Scott Paper uses many intermediaries to reach its target markets; Citibank uses none.Which of the marketing mix variables is being considered here?

Correct AnswerverifiedShow Answer

Personal selling,mass selling,and sales promotion are all included in the Promotion area of the marketing mix.

Correct AnswerverifiedShow Answer

The two parts of a marketing strategy are an attractive opportunity and a target market.

Correct AnswerverifiedShow Answer

The terms mass marketing and mass marketers mean the same thing.

Correct AnswerverifiedShow Answer

The Place decisions are concerned with getting the right product to the target market at the right time.

Correct AnswerverifiedShow Answer

Of the four types of opportunities firms can pursue,market penetration often appeals to marketers because ________.

Correct AnswerverifiedShow Answer

The marketing strategy planning process starts with a narrow look at a market,and becomes broader the closer the firm comes to developing a marketing mix.

Correct AnswerverifiedShow Answer

The single most important factor in screening possible marketing opportunities is the long-run trends facing the company.

Correct AnswerverifiedShow Answer

The customer equity concept

Correct AnswerverifiedShow Answer

When it comes to choosing among different types of opportunities,most firms tend to be production-oriented and usually think first of diversification.

Correct AnswerverifiedShow Answer

Although the customer should be the target of all marketing efforts,customers are not part of a marketing mix.

Correct AnswerverifiedShow Answer

Dell,Inc.wants to offer customers televisions in addition to computers.This is a change in its _____________________ strategy.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

It's best to think of "breakthrough opportunities" as opportunities which ________.

Correct AnswerverifiedShow Answer

Customer lifetime value ________.

Correct AnswerverifiedShow Answer

When a firm tries to increase sales by offering new or improved products to its present markets,this is called "product development."

Correct AnswerverifiedShow Answer

Differentiation often requires a firm to fine-tune its marketing mix to meet the specific needs of its target market(s).

Correct AnswerverifiedShow Answer

When AT&T advertises in THE WALL STREET JOURNAL that smartphones using its technology can make calls from more than 200 countries in the world,which market opportunity is AT&T pursuing?

Correct AnswerverifiedShow Answer

The "four Ps" of the marketing mix are: People,Products,Price,and Promotion.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified