In ________________ pricing, the firm first determines the perceived worth of the product from the customer’s point of view and then prices accordingly
admin
81. In ________________ pricing, the firm first
determines the perceived worth of the product from the customer’s point of view
and then prices accordingly.
A. product-based
B. cost-based
C. competitor-based
D. management-based
E. value-based
82. One clothing manufacturer, with factories both in
the U.S. and Mexico, recognized many Mexican consumers prefer American-made
products. The company then produced higher-cost jeans in the U.S. so they could
sell them at a premium in Mexico with a Made in USA label. This firm was
pursuing a ______________ pricing strategy.
A. promotion-based
B. cost-based
C. competitor-based
D. value-based
E. management-based
83. Passengers on international air flights are often
shocked to learn the variation in prices each passenger paid for the same
ticket. The passengers are learning about ___________ pricing.
A. competitor-based
B. cost-based
C. value-based
D. management-based
E. product-based
84. The difficulty in implementing value-based pricing
is:
A. it is too simple and can easily be replicated by competitors.
B. it is sometimes hard to determine perceived value among customers.
C. the time it takes to estimate the cost of products.
D. government regulations may prevent such strategies.
E. consumers do not know what they value.
85. Value-based pricing is one of the least understood
areas of business decision-making, even though it is one of the few business
activities with a direct impact on:
A. promotion.
B. distribution.
C. profits.
D. product assortment.
E. relative market mission
86. Value creation through place decisions
involves:
A. putting the product prominent place.
B. creative displays to capture consumers’ attention.
C. pricing products with place in mind.
D. making the good or service available when and where the customer wants
it.
E. all of the above
87. E-books, in addition to being an alternative
product form, provide __________ value creation through access via the
Internet.
A. product
B. place
C. promotion
D. price
E. all of the above
88. In recent years, cellular phone companies have
worked hard to eliminate “dead zones,” providing customers with
service wherever they traveled. The cellular companies were focusing on
__________ value creation.
A. product
B. price
C. promotion
D. place
E. all of the above
89. In value-based marketing, promotion communicates
the:
A. targeted creative solution.
B. operational excellence.
C. value proposition
D. relative market value.
E. sustainable comparative situation
90. Metrics are used in marketing to:
A. convert statistics into a decimal-based reporting format for easier
understanding outside of the U.S.
B. capture consumer perception and behavior in quantitative terms.
C. determine marketing department incentive bonuses based on the success
of marketing initiatives.
D. convert quantitative data into qualitative reports
E. All of the above.
91. In recent years, Internet marketers began paying
for placement at the top of search engine key word results. These marketers are
attempting to maximize ________ value creation.
A. product
B. price
C. promotion
D. place
E. all of the above
92. In order to create effective value communication
to target markets, marketers must first:
A. consider the cost of alternative media.
B. use the Internet.
C. redesign products to meet media outlet specifications.
D. understand their customers.
E. all of the above.
93. When choosing marketing communication methods, the
most effective and efficient option depends on:
A. the customers
B. the value created.
C. the message.
D. all of the above
E. none of the above
94. When firms successfully implement poor strategies
or poorly implement good strategies, it can make it difficult to:
A. generate cost-based pricing performance ratios.
B. evaluate performance and make adjustments.
C. increase product excellence while reducing customer excellence.
D. engage in strategic phasing analysis.
E. offer assistance to needy organizations.
95. Craig sees his company’s quarterly sales and
profits are significantly above projections and says, “That’s great. Let’s
keep doing what we are doing.” Craig is suggesting they ignore the
____________ of the marketing planning process.
A. evaluate performance
B. define the business mission.
C. situation analysis
D. implement marketing mix and resources.
E. identifying and evaluating opportunities.
96. The first objective in the evaluate performance
phase of the marketing planning process is to assess:
A. determine whether to raise or lower prices.
B. adjust advertising allocations.
C. find ways to cut costs.
D. why the performance goals were or were not achieved.
E. determine who should be promoted or terminated.
97. Kathy reviews her division’s quarterly results and
sees some units exceeded goals while others did not. Next, she will attempt to
determine why the performances varied and whether the variation:
A. created a net benefit or loss.
B. should be reported to senior executives or not.
C. consistent with the company’s mission statement.
D. offers opportunities for diversification.
E. was due to factors within or outside the firm’s control.
98. Brad is reviewing the performance of his franchise
sandwich store. Being a franchise he has access to comparative data from other
stores. Brad will likely look at ____________ data for his other stores.
A. sales
B. gross margin
C. number of customers
D. coupon redemption
E. all of above
99. Understanding the causes of performance,
regardless of whether that performance exceeded, met, or fell below the firm’s
goals:
A. enables firms to make appropriate adjustments.
B. allows managers to promote their effectiveness.
C. offers insights into cost-based pricing value.
D. provides market researchers with insights into SBU superiority.
E. allows firms to better assess customer performance.
100. Laura is reviewing sales data after a recent in
store promotion of her company’s diet products. The data show success in some
stores and limited response in others. Laura will probably next review the
company’s:
A. profitability reports.
B. brand awareness study.
C. implementation program to see if the promotion was handled consistently
in the different stores.
D. sales analysis in other territories.
E. analysis of national diet trends.
101. After conducting STP analysis for her custom auto
parts store and developing strategies for each of the 4 Ps, Brenda now has to
make _____________ decisions.
A. competitive response
B. resource allocation
C. product line
D. market growth
E. mission statement
102. Lamar owns four dry cleaning stores in the suburbs
of Orlando. He updates his STP analysis annually, and adjusts his marketing mix
based on the STP results. His next strategic marketing decision will likely
involve:
A. how Disney World crowds will impact his business.
B. which employees to promote or fire.
C. how to allocate resources among his four stores.
D. what new government regulations to implement.
E. when to shift from a concentrated to an undifferentiated strategy.
103. In most companies, marketing resource allocation
decisions are made at the SBU or ___________ level of the firm.
A. corporate
B. product line
C. customer care
D. sales representative
E. accounting
104. A ___________ is a group of products that
consumers may use together or perceive as similar in some way.
A. SBU
B. STP
C. product line
D. market segment
E. promotional service
105. Heather has been assessing a number of her firm’s
products using the Boston Consulting Group approach to portfolio analysis. She
has been trying to assess the strength in a particular market and is looking at
the sales of the product and the overall market as well as the sales of
competitors. Heather is working on determining _________________.
A. relative market share.
B. market growth rate
C. competitive advantage
D. statistical census analysis
E. cash generation equivalents
106. To determine how attractive a particular market
is in using the BCG portfolio analysis, __________________ is established as
one axis.
A. competitive intensity
B. relative market share
C. ideal market distribution
D. market growth rate
E. profit potential
107. Based on the BCG portfolio analysis, products in
low-growth markets that have received heavy investments and now have excess
resources to spin off are:
A. stars.
B. cash cows.
C. question marks.
D. dogs.
E. None of the above
108. Fernando was thrilled to find out that his
company had just decided to invest a great deal of money in the product he was
managing. He knows that even with its recent high rate of growth and the fact
that it was dominating the market, he would need more money to establish it
firmly. Using the BCG portfolio analysis, his product shares characteristics
with other:
A. stars.
B. cash cows.
C. question marks.
D. dogs.
E. None of the above
109. Using the BCG portfolio analysis, dogs should be
phased out unless:
A. the CEO of the firm is a champion of the product.
B. additional resources could convert the product into a star.
C. it complements or boosts the sales of another product.
D. the market might rebound.
E. None of the above. Dogs should be phased out.
110. Portfolio analysis is a useful and powerful tool,
but firms often need to take a more balanced approach because:
A. measures are difficult to obtain and project
B. classifications can become self-fulfilling prophesies and strengths and
weaknesses are distorted.
C. substitute approaches can offer different insights.
D. All of the above.
E. None of the above81. In ________________ pricing, the firm first
determines the perceived worth of the product from the customer’s point of view
and then prices accordingly.
A. product-based
B. cost-based
C. competitor-based
D. management-based
E. value-based 82. One clothing manufacturer, with factories both in
the U.S. and Mexico, recognized many Mexican consumers prefer American-made
products. The company then produced higher-cost jeans in the U.S. so they could
sell them at a premium in Mexico with a Made in USA label. This firm was
pursuing a ______________ pricing strategy.
A. promotion-based
B. cost-based
C. competitor-based
D. value-based
E. management-based 83. Passengers on international air flights are often
shocked to learn the variation in prices each passenger paid for the same
ticket. The passengers are learning about ___________ pricing.
A. competitor-based
B. cost-based
C. value-based
D. management-based
E. product-based 84. The difficulty in implementing value-based pricing
is:
A. it is too simple and can easily be replicated by competitors.
B. it is sometimes hard to determine perceived value among customers.
C. the time it takes to estimate the cost of products.
D. government regulations may prevent such strategies.
E. consumers do not know what they value. 85. Value-based pricing is one of the least understood
areas of business decision-making, even though it is one of the few business
activities with a direct impact on:
A. promotion.
B. distribution.
C. profits.
D. product assortment.
E. relative market mission 86. Value creation through place decisions
involves:
A. putting the product prominent place.
B. creative displays to capture consumers’ attention.
C. pricing products with place in mind.
D. making the good or service available when and where the customer wants
it.
E. all of the above 87. E-books, in addition to being an alternative
product form, provide __________ value creation through access via the
Internet.
A. product
B. place
C. promotion
D. price
E. all of the above 88. In recent years, cellular phone companies have
worked hard to eliminate “dead zones,” providing customers with
service wherever they traveled. The cellular companies were focusing on
__________ value creation.
A. product
B. price
C. promotion
D. place
E. all of the above 89. In value-based marketing, promotion communicates
the:
A. targeted creative solution.
B. operational excellence.
C. value proposition
D. relative market value.
E. sustainable comparative situation 90. Metrics are used in marketing to:
A. convert statistics into a decimal-based reporting format for easier
understanding outside of the U.S.
B. capture consumer perception and behavior in quantitative terms.
C. determine marketing department incentive bonuses based on the success
of marketing initiatives.
D. convert quantitative data into qualitative reports
E. All of the above. 91. In recent years, Internet marketers began paying
for placement at the top of search engine key word results. These marketers are
attempting to maximize ________ value creation.
A. product
B. price
C. promotion
D. place
E. all of the above 92. In order to create effective value communication
to target markets, marketers must first:
A. consider the cost of alternative media.
B. use the Internet.
C. redesign products to meet media outlet specifications.
D. understand their customers.
E. all of the above. 93. When choosing marketing communication methods, the
most effective and efficient option depends on:
A. the customers
B. the value created.
C. the message.
D. all of the above
E. none of the above 94. When firms successfully implement poor strategies
or poorly implement good strategies, it can make it difficult to:
A. generate cost-based pricing performance ratios.
B. evaluate performance and make adjustments.
C. increase product excellence while reducing customer excellence.
D. engage in strategic phasing analysis.
E. offer assistance to needy organizations. 95. Craig sees his company’s quarterly sales and
profits are significantly above projections and says, “That’s great. Let’s
keep doing what we are doing.” Craig is suggesting they ignore the
____________ of the marketing planning process.
A. evaluate performance
B. define the business mission.
C. situation analysis
D. implement marketing mix and resources.
E. identifying and evaluating opportunities. 96. The first objective in the evaluate performance
phase of the marketing planning process is to assess:
A. determine whether to raise or lower prices.
B. adjust advertising allocations.
C. find ways to cut costs.
D. why the performance goals were or were not achieved.
E. determine who should be promoted or terminated. 97. Kathy reviews her division’s quarterly results and
sees some units exceeded goals while others did not. Next, she will attempt to
determine why the performances varied and whether the variation:
A. created a net benefit or loss.
B. should be reported to senior executives or not.
C. consistent with the company’s mission statement.
D. offers opportunities for diversification.
E. was due to factors within or outside the firm’s control. 98. Brad is reviewing the performance of his franchise
sandwich store. Being a franchise he has access to comparative data from other
stores. Brad will likely look at ____________ data for his other stores.
A. sales
B. gross margin
C. number of customers
D. coupon redemption
E. all of above 99. Understanding the causes of performance,
regardless of whether that performance exceeded, met, or fell below the firm’s
goals:
A. enables firms to make appropriate adjustments.
B. allows managers to promote their effectiveness.
C. offers insights into cost-based pricing value.
D. provides market researchers with insights into SBU superiority.
E. allows firms to better assess customer performance. 100. Laura is reviewing sales data after a recent in
store promotion of her company’s diet products. The data show success in some
stores and limited response in others. Laura will probably next review the
company’s:
A. profitability reports.
B. brand awareness study.
C. implementation program to see if the promotion was handled consistently
in the different stores.
D. sales analysis in other territories.
E. analysis of national diet trends. 101. After conducting STP analysis for her custom auto
parts store and developing strategies for each of the 4 Ps, Brenda now has to
make _____________ decisions.
A. competitive response
B. resource allocation
C. product line
D. market growth
E. mission statement 102. Lamar owns four dry cleaning stores in the suburbs
of Orlando. He updates his STP analysis annually, and adjusts his marketing mix
based on the STP results. His next strategic marketing decision will likely
involve:
A. how Disney World crowds will impact his business.
B. which employees to promote or fire.
C. how to allocate resources among his four stores.
D. what new government regulations to implement.
E. when to shift from a concentrated to an undifferentiated strategy. 103. In most companies, marketing resource allocation
decisions are made at the SBU or ___________ level of the firm.
A. corporate
B. product line
C. customer care
D. sales representative
E. accounting 104. A ___________ is a group of products that
consumers may use together or perceive as similar in some way.
A. SBU
B. STP
C. product line
D. market segment
E. promotional service 105. Heather has been assessing a number of her firm’s
products using the Boston Consulting Group approach to portfolio analysis. She
has been trying to assess the strength in a particular market and is looking at
the sales of the product and the overall market as well as the sales of
competitors. Heather is working on determining _________________.
A. relative market share.
B. market growth rate
C. competitive advantage
D. statistical census analysis
E. cash generation equivalents 106. To determine how attractive a particular market
is in using the BCG portfolio analysis, __________________ is established as
one axis.
A. competitive intensity
B. relative market share
C. ideal market distribution
D. market growth rate
E. profit potential 107. Based on the BCG portfolio analysis, products in
low-growth markets that have received heavy investments and now have excess
resources to spin off are:
A. stars.
B. cash cows.
C. question marks.
D. dogs.
E. None of the above 108. Fernando was thrilled to find out that his
company had just decided to invest a great deal of money in the product he was
managing. He knows that even with its recent high rate of growth and the fact
that it was dominating the market, he would need more money to establish it
firmly. Using the BCG portfolio analysis, his product shares characteristics
with other:
A. stars.
B. cash cows.
C. question marks.
D. dogs.
E. None of the above 109. Using the BCG portfolio analysis, dogs should be
phased out unless:
A. the CEO of the firm is a champion of the product.
B. additional resources could convert the product into a star.
C. it complements or boosts the sales of another product.
D. the market might rebound.
E. None of the above. Dogs should be phased out. 110. Portfolio analysis is a useful and powerful tool,
but firms often need to take a more balanced approach because:
A. measures are difficult to obtain and project
B. classifications can become self-fulfilling prophesies and strengths and
weaknesses are distorted.
C. substitute approaches can offer different insights.
D. All of the above.
E. None of the above
