Exam: 080600RR – ASSESSING THE MARKETPLACE Questions 1

Exam: 080600RR – ASSESSING THE MARKETPLACE

Questions 1 to 25: Select the best answer to each question. Note that a question and its answers may be split across a page break, so be sure that you have seen the entire question and all the answers before choosing an answer.
1. Companies seek to develop a sustainable competitive advantage that can be maintained over a long period of time and
A. is easy for employees to use and remember.
B. is difficult for competitors to copy.
C. appeals to financial analysts and potential shareholders.
D. can be patented or registered to protect it as intellectual property.
2. When conducting a SWOT analysis, in what phase of the strategic marketing process is an organization presently engaged?
A. Planning
B. Implementation
C. Control
D. Segmentation
3. In most companies, marketing resource allocation decisions are made at the SBU or _______ level of the firm.
A. customer care
B. product line
C. corporate
D. accounting
4. Almost every banker thinks his or her firm provides better service than their competitors. If this idea is accurate, and customers recognize it, the bank creates and delivers value through _______ excellence.
A. promotional
B. product
C. operational
D. customer
5. Wal-Mart is often used as an example of a store that consumers love to hate. The opening of a new Wal-Mart in an area often results in the decline of small, local businesses. Local groups often protest but, before long, find themselves shopping at Wal-Mart because Wal-Mart
A. benefits local communities through social-welfare programs.
B. offers better-quality products.
C. makes life easier for the remaining businesses.
D. benefits consumers through low prices and large assortment.
6. Products that may damage the environment, the use of sweatshop labor, and the marketing of hazardous products are examples of
A. internal, controllable marketing issues.
B. situational ethical issues.
C. marketing social issues.
D. managerial issues, but not marketing issues.
7. When Mattel quickly recalled some of its toys upon learning of potential lead hazards, it used ethical principles and approaches to
A. maintain its strong relationship with its customers.
B. make sure it didn’t get blamed for the problem.
C. shed unprofitable product lines and dispose of defective products.
D. minimize the damage by focusing on the few product lines affected.
8. Henry often observes the FedEx and UPS delivery people who bring packages to his law firm, counting the number of packages they deliver to other law firms in the building. He also regularly reviews court documents about upcoming cases to see which firms are representing clients. Henry is engaged in
A. macroeconomic variable analysis.
B. intuitive diagnostics.
C. demographic data collection.
D. competitive intelligence.
9. Of the five steps to the strategic marketing planning process, which step usually comes in the middle of the process?
A. Evaluating performance
B. Identifying and evaluating opportunities
C. Defining the business mission
D. Implementing marketing mix and resources
10. Evaluating each market segment’s attractiveness based on size, income, and accessibility is a function of
A. market penetration estimation.
B. diversification.
C. situation analysis.
D. target marketing.
11. Whenever Jami calls on his building contractor customers, he asks if they’re having any problems. In doing so, Jami is addressing which of the following core aspects of marketing?
A. Satisfying customer needs and wants
B. Product, place, promotion, and price decisions
C. The exchange function of marketing
D. Decisions regarding in which setting marketing takes place
12. A _______ growth strategy employs the existing marketing offering to reach new market segments.
A. product development
B. diversification
C. market penetration
D. market development
13. The centerpiece of the marketing environment analysis framework is
A. corporate partners.
B. green marketing.
C. consumers.
D. competitive intelligence.
14. When a company considering expansion beyond its home territory begins to review demographic profiles of the customers and profiles of regions it’s considering, it’s engaged in the important marketing function of
A. understanding customers.
B. production efficiency.
C. economic analysis.
D. inventory analysis.
15. Almost every organization includes values and ethics as part of their mission statement and includes a set of explicit rules in the company’s employee handbook. Once the rules are in place, there must be
A. commitment from customers to accept these rules.
B. a system of controls that rewards appropriate behavior and punishes inappropriate behavior.
C. weekly reminder seminars to enforce guidelines.
D. a Web site where employees can vent their frustration over