Starbucks has developed a number of metrics beyond purely financial metrics.
admin
111. Starbucks has developed a number of metrics
beyond purely financial metrics. Knowing the importance of perceptions and
knowing the importance of developing ways to demonstrate its activity,
Starbucks tries to find clear ways to:
A. build brand equity.
B. demonstrate its sense of corporate social responsibility.
C. address concerns of opponents at local, regional, national and global
levels.
D. help consumers feel better about their purchases.
E. All of the above
112. The strategic marketing planning process:
A. is a five-step process that should always be used in order.
B. can be used in reverse if desired.
C. begins with setting appropriate, measurable: outcomes.
D. is not always sequential.
E. forces marketing managers to think rationally.
113. During the implementation phase, Jonathon finds
he does not have sufficient resources to accomplish the objectives that were
previously established. Jonathon will likely:
A. ask for more resources.
B. change the planning objectives.
C. consider abandoning the plan.
D. any of the above.
E. all of the above.
114. Which of the following is NOT one of the four
major growth strategies marketers typically utilize?
A. market penetration
B. market development
C. product proliferation
D. diversification
E. product development
115. For many years, because of the size of the U.S.
economy, domestic companies ignored international markets, preferring to expand
their marketing efforts toward existing customers. These companies were
pursuing a ________________ strategy.
A. market penetration
B. market development
C. product proliferation
D. diversification
E. product development
116. In many market situations, word-of-mouth
referrals are a very effective source of new customers. Marketers often
encourage referrals as a _______________ growth strategy.
A. product proliferation
B. market development
C. market penetration
D. diversification
E. product development
117. The marketing faculty at one university suggested
the recruiting office offer a $50 gift certificate at the campus bookstore to
students who referred new students to the university. This is a _______________
growth strategy.
A. product proliferation
B. market development
C. market penetration
D. diversification
E. product development
118. Adrienne decides to add new sales representatives
and increase advertising in her existing market for her line of security systems.
Adrienne is pursuing a __________ growth strategy.
A. product proliferation
B. market development
C. market penetration
D. diversification
E. product development
119. Sarah has decided to pursue a market penetration
strategy for her French cookware product line. She will likely increase
advertising, sales promotion, and sales personnel. She may also consider:
A. intensifying distribution efforts.
B. investing in a travel agency.
C. shift resources into marketing a line of footwear.
D. expand into new territories.
E. all of the above
120. A ________________ growth strategy employs the
existing marketing offering to reach new market segments.
A. product proliferation
B. market development
C. market penetration
D. diversification
E. product development
121. Quitman sells his business language dictionary to
college students throughout the United States. He wants to sell the book to
international students abroad. Quitman wants to pursue a __________________
growth strategy.
A. product proliferation
B. market development
C. market penetration
D. diversification
E. product development
122. When pursuing a market development strategy,
expanding into international markets is generally:
A. more risky than expansion in domestic markets.
B. impossible due to negative attitudes about American products.
C. executed through international trade relief subsidies.
D. simplified by creating new products for export markets.
E. all of the above
123. H&R is a small, local heating and air
conditioning business. They know the area military base is potentially a
profitable source of growth but also know it is difficult to get established as
a certified contractor with the government. H&R is considering a
____________ growth strategy.
A. product proliferation
B. market development
C. market penetration
D. diversification
E. product development
124. Many states create licensing requirements for a
variety of professionals designed to restrict entry into their market by
professionals from other states. This strategy limits ____________ growth
strategies.
A. product proliferation
B. market development
C. market penetration
D. diversification
E. product development
125. Marketers who design and offer new products and
services to their existing customers are pursuing a ____________________ growth
strategy.
A. product proliferation
B. market development
C. market penetration
D. diversification
E. product development
126. Most banks now have customer relationship
software which, when a customer contacts the bank, tells the service
representative what types of accounts, loans, and credit cards the customer
currently has. Service representatives use this information to sell additional
banking services. This is a ___________________ growth strategy.
A. product proliferation
B. market development
C. market penetration
D. diversification
E. product development
127. Whenever Arnold calls his insurance agent, the
agent tells Arnold about new types of insurance available. The agent is
pursuing a ________________ growth strategy.
A. product development
B. market development
C. market penetration
D. diversification
E. product proliferation
128. In 2007, When Apple Computer Company introduced
its new iPhone, adding cellular telephone and Internet access to its iPod, the
company was engaged in a _________________ strategy.
A. mission creep
B. antitrust
C. power positioning
D. customer excellence enhancement
E. product development
129. Introducing new products or services to a market
segment the company is not currently serving is called:
A. product development
B. market development
C. market penetration
D. diversification
E. product proliferation
130. Researchers at Lobeco Chemical Company, a
manufacturer of pigments for paint companies, found one of their pigment
compounds has incredible adhesive qualities and could be used as glue in
consumer markets. If Lobeco Chemicals pursues this opportunity it would be
pursuing a _____________ growth strategy.
A. product development
B. market development
C. market penetration
D. diversification
E. product proliferation
131. To develop winning value-based strategies by
anticipating and interpreting change and leveraging resources to address those
changes, firms use:
A. macro strategies.
B. overarching strategies.
C. scenario planning.
D. change management.
E. effective mission statements.
132. The marketing department at Stuart’s firm has
assessed the strengths and weakness, and opportunities and threats. Now the
department with input from senior management will identify different scenarios.
Which of the following will NOT be one of their efforts?
A. Identify alternatives the firm might want to pursue
B. Match the firm’s competencies with the opportunities’ attractiveness
C. Reflect on the risks, benefits and costs in each alternative
D. Make sure they have correctly identified the competitors
E. Project what might happen two to five years into the future
133. Twyla has been asked to lead the effort in her
firm’s scenario planning effort. She knows she’ll have to look at strengths and
weaknesses, and opportunities and threats. Twyla will NOT have to look at which
of the following factors?
A. Cultural
B. Demographic
C. Economic
D. Technological
E. Twyla will have to look at all of the above.
134. The final step in scenario planning
includes:
A. determining the marketing mix for the alternatives.
B. positioning all the likely alternatives.
C. embedding the macro strategies into the alternatives.
D. establishing breakeven points for the alternatives.
E. determining the profitability of the alternatives.
135. In developing an actionable marketing strategy, a
firm will do all of the following except:
A. create a marketing plan.
B. analyze and evaluate its marketing situation.
C. develop a segmentation, targeting and position strategy.
D. use scenario planning to integrate information and assess the viability
of corporate strategies.
E. poll key stakeholders, particularly employees and shareholders, about
their preferred options to ensure “buy-in.”
Essay Questions
136. Of what use is a sustainable competitive
advantage to a firm?
137. The text states, “Viewing customers with a
life-time value perspective, rather than on a transaction-to-transaction basis,
is the key to modern customer retention programs.” Create an example
demonstrating a life-time value perspective. Why is customer retention almost
always a profitable marketing strategy?
138. Although most people do not have a personal
marketing plan, when would one be appropriate?
139. One of the benefits of taking marketing courses
is the opportunity to apply marketing concepts to marketing yourself. When
selling yourself, you are a product including all the skills, aptitudes, and
attitudes you bring to the market. What is a sustainable competitive advantage?
What can you do to give yourself a sustainable competitive advantage in the
marketplace?
140. Your marketing professor, Dr. Marketing, has been
asked to participate in the university’s strategic marketing planning process.
During the planning phase of the process, what questions Dr. Marketing likely
ask? Be specific, this is the university’s strategic marketing planning
process.
111. Starbucks has developed a number of metrics
beyond purely financial metrics. Knowing the importance of perceptions and
knowing the importance of developing ways to demonstrate its activity,
Starbucks tries to find clear ways to:
A. build brand equity.
B. demonstrate its sense of corporate social responsibility.
C. address concerns of opponents at local, regional, national and global
levels.
D. help consumers feel better about their purchases.
E. All of the above 112. The strategic marketing planning process:
A. is a five-step process that should always be used in order.
B. can be used in reverse if desired.
C. begins with setting appropriate, measurable: outcomes.
D. is not always sequential.
E. forces marketing managers to think rationally. 113. During the implementation phase, Jonathon finds
he does not have sufficient resources to accomplish the objectives that were
previously established. Jonathon will likely:
A. ask for more resources.
B. change the planning objectives.
C. consider abandoning the plan.
D. any of the above.
E. all of the above. 114. Which of the following is NOT one of the four
major growth strategies marketers typically utilize?
A. market penetration
B. market development
C. product proliferation
D. diversification
E. product development 115. For many years, because of the size of the U.S.
economy, domestic companies ignored international markets, preferring to expand
their marketing efforts toward existing customers. These companies were
pursuing a ________________ strategy.
A. market penetration
B. market development
C. product proliferation
D. diversification
E. product development 116. In many market situations, word-of-mouth
referrals are a very effective source of new customers. Marketers often
encourage referrals as a _______________ growth strategy.
A. product proliferation
B. market development
C. market penetration
D. diversification
E. product development 117. The marketing faculty at one university suggested
the recruiting office offer a $50 gift certificate at the campus bookstore to
students who referred new students to the university. This is a _______________
growth strategy.
A. product proliferation
B. market development
C. market penetration
D. diversification
E. product development 118. Adrienne decides to add new sales representatives
and increase advertising in her existing market for her line of security systems.
Adrienne is pursuing a __________ growth strategy.
A. product proliferation
B. market development
C. market penetration
D. diversification
E. product development 119. Sarah has decided to pursue a market penetration
strategy for her French cookware product line. She will likely increase
advertising, sales promotion, and sales personnel. She may also consider:
A. intensifying distribution efforts.
B. investing in a travel agency.
C. shift resources into marketing a line of footwear.
D. expand into new territories.
E. all of the above 120. A ________________ growth strategy employs the
existing marketing offering to reach new market segments.
A. product proliferation
B. market development
C. market penetration
D. diversification
E. product development 121. Quitman sells his business language dictionary to
college students throughout the United States. He wants to sell the book to
international students abroad. Quitman wants to pursue a __________________
growth strategy.
A. product proliferation
B. market development
C. market penetration
D. diversification
E. product development 122. When pursuing a market development strategy,
expanding into international markets is generally:
A. more risky than expansion in domestic markets.
B. impossible due to negative attitudes about American products.
C. executed through international trade relief subsidies.
D. simplified by creating new products for export markets.
E. all of the above 123. H&R is a small, local heating and air
conditioning business. They know the area military base is potentially a
profitable source of growth but also know it is difficult to get established as
a certified contractor with the government. H&R is considering a
____________ growth strategy.
A. product proliferation
B. market development
C. market penetration
D. diversification
E. product development 124. Many states create licensing requirements for a
variety of professionals designed to restrict entry into their market by
professionals from other states. This strategy limits ____________ growth
strategies.
A. product proliferation
B. market development
C. market penetration
D. diversification
E. product development 125. Marketers who design and offer new products and
services to their existing customers are pursuing a ____________________ growth
strategy.
A. product proliferation
B. market development
C. market penetration
D. diversification
E. product development 126. Most banks now have customer relationship
software which, when a customer contacts the bank, tells the service
representative what types of accounts, loans, and credit cards the customer
currently has. Service representatives use this information to sell additional
banking services. This is a ___________________ growth strategy.
A. product proliferation
B. market development
C. market penetration
D. diversification
E. product development 127. Whenever Arnold calls his insurance agent, the
agent tells Arnold about new types of insurance available. The agent is
pursuing a ________________ growth strategy.
A. product development
B. market development
C. market penetration
D. diversification
E. product proliferation 128. In 2007, When Apple Computer Company introduced
its new iPhone, adding cellular telephone and Internet access to its iPod, the
company was engaged in a _________________ strategy.
A. mission creep
B. antitrust
C. power positioning
D. customer excellence enhancement
E. product development 129. Introducing new products or services to a market
segment the company is not currently serving is called:
A. product development
B. market development
C. market penetration
D. diversification
E. product proliferation 130. Researchers at Lobeco Chemical Company, a
manufacturer of pigments for paint companies, found one of their pigment
compounds has incredible adhesive qualities and could be used as glue in
consumer markets. If Lobeco Chemicals pursues this opportunity it would be
pursuing a _____________ growth strategy.
A. product development
B. market development
C. market penetration
D. diversification
E. product proliferation 131. To develop winning value-based strategies by
anticipating and interpreting change and leveraging resources to address those
changes, firms use:
A. macro strategies.
B. overarching strategies.
C. scenario planning.
D. change management.
E. effective mission statements. 132. The marketing department at Stuart’s firm has
assessed the strengths and weakness, and opportunities and threats. Now the
department with input from senior management will identify different scenarios.
Which of the following will NOT be one of their efforts?
A. Identify alternatives the firm might want to pursue
B. Match the firm’s competencies with the opportunities’ attractiveness
C. Reflect on the risks, benefits and costs in each alternative
D. Make sure they have correctly identified the competitors
E. Project what might happen two to five years into the future 133. Twyla has been asked to lead the effort in her
firm’s scenario planning effort. She knows she’ll have to look at strengths and
weaknesses, and opportunities and threats. Twyla will NOT have to look at which
of the following factors?
A. Cultural
B. Demographic
C. Economic
D. Technological
E. Twyla will have to look at all of the above. 134. The final step in scenario planning
includes:
A. determining the marketing mix for the alternatives.
B. positioning all the likely alternatives.
C. embedding the macro strategies into the alternatives.
D. establishing breakeven points for the alternatives.
E. determining the profitability of the alternatives. 135. In developing an actionable marketing strategy, a
firm will do all of the following except:
A. create a marketing plan.
B. analyze and evaluate its marketing situation.
C. develop a segmentation, targeting and position strategy.
D. use scenario planning to integrate information and assess the viability
of corporate strategies.
E. poll key stakeholders, particularly employees and shareholders, about
their preferred options to ensure “buy-in.”
Essay Questions
136. Of what use is a sustainable competitive
advantage to a firm?
137. The text states, “Viewing customers with a
life-time value perspective, rather than on a transaction-to-transaction basis,
is the key to modern customer retention programs.” Create an example
demonstrating a life-time value perspective. Why is customer retention almost
always a profitable marketing strategy?
138. Although most people do not have a personal
marketing plan, when would one be appropriate?
139. One of the benefits of taking marketing courses
is the opportunity to apply marketing concepts to marketing yourself. When
selling yourself, you are a product including all the skills, aptitudes, and
attitudes you bring to the market. What is a sustainable competitive advantage?
What can you do to give yourself a sustainable competitive advantage in the
marketplace?
140. Your marketing professor, Dr. Marketing, has been
asked to participate in the university’s strategic marketing planning process.
During the planning phase of the process, what questions Dr. Marketing likely
ask? Be specific, this is the university’s strategic marketing planning
process.
