When volvo runs ads | Marketing homework help

1. When companies measure the number of people who are willing and able to buy their products, they are measuring ________.

a. disposable income

b. standard of living

c. price elasticity

d. real needs

e. demand


2. When Volvo runs ads suggesting that its cars are the safest that money can buy, it is trying to


a. enter a new market

b. segment the market

c. provide a service

d. develop brand loyalty

e. position its product


3. Industry boundaries are blurring rapidly as companies identify new opportunities at the

 intersection of two or more industries. This is called ________.

a. privatization

b. customization

c. disintermediation

d. industry convergence

e. globalization


4. The success of online purchasing resulted in ________ in the delivery of products and services

 by intervening in the traditional flow of goods through distribution channels.

a. privatization

b. diversification

c. disintermediation

d. deregulation

e. reduced competition


5. Marketers at Johnny Inc. believe in putting their customers ahead of everything else. Their

 products are carefully designed to meet customer requirements and the entire focus is on

 achieving customer satisfaction. Johnny Inc. follows the ________ concept in doing business.

a. product

b. social responsibility

c. marketing

d. production

e. selling


6. ________ marketing aims to build mutually satisfying, long-term collaboration with key

 constituents such as customers, employees, suppliers, distributors, and other marketing

 partners in order to earn and retain their business.

a. Demand-based

b. Internal

c. Direct

d. Relationship

e. Integrated


7. Which of the following is most consistent with the integrated marketing approach?

a. Online marketing is less important than traditional marketing efforts.

b. If left alone, consumers are inclined to purchase only inexpensive products.

c. A good product will sell itself.

d. All communication to consumers must deliver a consistent message irrespective of the


e. In order to succeed, the main focus should be on having an efficient production

 process in place.


8. Holistic marketing incorporates ________ marketing, an understanding of broader concerns in

 the ethical, environmental, legal, and social context of marketing activities.

a. relationship

b. social responsibility

c. internal

d. cultural

e. integrated


9. The task of any business is to ________.

a. deliver customer value at a profit

b. differentiate in terms of cost of production

c. reduce competition

d. create customer needs

e. communicate similar value as provided by competitors


10. In economies with many different types of people, each with his/her own wants, perceptions,

 preferences, and buying criteria, ________.

a. all market segments are equally profitable

b. the traditional marketing approach would be the best approach to follow

c. the producers should focus on niche markets

d. companies now see themselves as part of a value delivery process

e. target market strategies are no longer effective


11. The last step in the value creation and delivery sequence is ________ the value where the

 sales force, sales promotion, advertising, and other communication tools announce and

 promote the product.

 a. researching

b. reversing

c. developing

d. positioning

e. communicating


12. With respect to the core business processes, the ________ process includes all the activities

 involved in developing and launching high-quality products quickly and within budget.

a. new-offering realization

b. market-sensing

c. fulfillment management

d. customer relationship management

e. customer acquisition


13. ________ management allows the company to discover who its target markets are, how they

 behave and what they need or want. It also enables the company to respond appropriately,

 coherently, and quickly to different customer opportunities.

a. Marketing

b. Supply chain

c. Network

d. Total quality

e. Customer relationship


14. The key to utilizing organizational core competencies is to ________ that make up the essence

 of the business.

a. vertically integrate and own all intermediaries

b. own and nurture the resources and competencies

c. emphasize global promotions

d. force organizational departments to justify the budgetary components

e. segment the workforces


15. Most large companies consist of four organizational levels: the corporate level, the ________

 level, the business unit level, and the product level.

a. management team

b. major stakeholder

c. board of director

d. division

e. strategic


16. A clear, thoughtful mission statement provides employees with a shared sense of purpose,

 direction, and ________.

a. profitability

b. opportunity

c. target market feasibility

d. continuous improvement

e. quality products


17. The ________ sphere is the number of channel levels—from raw materials to final product and

 distribution—in which a company will participate.

a. competence

b. market segment

c. product/application

d. industry

e. vertical


18. Which of the following is an example of intensive growth?

a. A company develops new products for its existing markets.

b. A company enters a new market with current products.

c. A company developing new products for new markets.

d. A company improves its market share with its current products in the current markets.

e. A company improving sales by integrating backwards.


19. Through its cutting-edge point-of-sale inventory management technology and highly efficient

 shipping practices, Walmart is able to keep its inventory expenditure extremely low and to

 pass these savings on to consumers in the form of low prices. Walmart’s strategy is best

 described as ________.

a. market development

b. a focused approach

c. overall cost leadership

d. differentiation

e. integrative growth


20. The heart of the internal records system is the ________.

a. human resources system

b. expense cycle

c. pay-roll system

d. order-to-payment cycle

e. purchase order cycle


21. A ________ is a set of procedures and sources managers use to obtain everyday information

 about developments in the marketing environment.

a. sales information system

b. marketing intelligence system

c. viral marketing campaign

d. product management system

e. data warehousing system


22. A company can take several steps to improve the quality of its marketing intelligence. If the

 company purchases competitive products for study, attends open houses and trade shows,

 and reads competitors’ published reports and stockholder information, the company is using

 ________ to improve the quality of its marketing intelligence.

a. external networks

b. advisory panels

c. sales-force surrogates

d. intermediaries

e. customer feedback systems


23. Elance.com is a service provider that allows contractors to describe their level of satisfaction

 with subcontractors. This is an example of a(n) ________.

a. customer complaint site

b. distributor or sales agent feedback site

c. public blog

d. combo site offering customer reviews and expert opinions

e. independent customer goods and service review forum


24. A ________ is a direction or sequence of events that has some momentum and durability; it

 reveals the shape of the future and can provide strategic direction.

a. trend

b. style

c. megatrend

d. fad

e. fashion


25. The three largest subgroups of the Hispanics in the U.S. are ________, ________, and


a. Brazilian; Mexican; Cuban

b. Mexican; Puerto Rican; Cuban

c. Salvadoran; Dominican; Columbian

d. Puerto Rican; Mexican; Chilean

e. Salvadoran; Cuban; Dominican


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