Quiz on Markeing Manament

1. The task of any business is to deliver ________ at a profit.

a. customer value

b. products and services
c. improved quality
d. customer needs
e. products

2. Much of a brand’s strength in consumer markets depend on ________.

a. developing a superior product
b. creating superior packaging
c. ensuring the product’s availability
d. backing the product with engaging communications and reliable service
e. all of the above

3. ________ are basic human requirements; ________ are the ways in which we satisfy those requirements, and they are shaped by our society.

a. Wants; needs
b. Demands; wants
c. Needs; wants
d. Needs; demands
e. Demands; needs

4. Companies address needs by putting forth a(n) ________, a set of benefits that they offer to customers to satisfy their needs.

a. brand
b. value proposition
c. offering
d. target market
e. demand

5. Under which of the following company orientations toward the marketplace would we expect to find the “better mousetrap” fallacy?

a. Production concept
b. Product concept
c. Selling concept
d. Marketing concept
e. Holistic marketing concept.

6. The ________ lays out the target markets and the value proposition that will be offered, based on an analysis of the best market opportunities.

a. organizational plan
b. strategic marketing plan
c. corporate tactical plan
d. corporate mission
e. customer-value statement

7. Market-penetration, product-development, and market-development strategies would all be examples of ________ strategies.

f. concentric
g. conglomerate
h. horizontal
i. intensive growth
j. integrative growth

8. Which of the following is one of the four planning activities undertaken by all corporate headquarters?

e. defining the corporate mission
l. establishing strategic business units m. assigning resources to each SBU
n. assessing growth opportunities
o. all of the above

9. The ________ identifies nine strategically relevant activities that create value and cost in a specific business.

a. value proposition
b. value chain
c. mission statement
d. annual report
e. manager’s log

10. Several forces are driving companies to practice a higher level of corporate social responsibility. These include ________.

a. rising customer expectations
b. evolving employee goals and ambitions
c. tighter government legislation
d. investor interests
e. all of the above

11. One traditional depiction of tactical marketing activities is in terms of the marketing mix or four Ps. The four Ps are characterized as being ________.

a. product, positioning, place, and price
b. product, production, price, and place
c. promotion, place, positioning, and price
d. place, promotion, production, and positioning
e. product, price, promotion, and place

12. A mission statement has as its primary focus the product and how to make it.

a. True
b. False Answer Key