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Multiple Choice Quiz
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In today's global competition, it is important to recognize __________.
A)the kinds of organizations that exist
B)what strategy is
C)how this strategy relates to the corporate level of organizations
D)how this strategy relates to the functional level of organizations
E)all of the above
__________ is the reward to a business firm for the risk it undertakes in marketing its offerings.
A)Shareholders' equity
C)Inventory turnover
D)Contribution margin
E)Asset leverage
Which statement best describes the most significant difference between a business firm and a nonprofit organization?
A)Business firms operate with larger budgets than nonprofits
B)Nonprofit organizations do not carry on economic activities and, business firms do
C)Nonprofit organizations are concerned with social issues and, business firms are not
D)Both serve customers, but business firms seek a profit while nonprofit organizations do not
E)Nonprofit organizations are publicly owned and, business firms are not
A key role of the marketing department is to _________
A)allocate financial resources across business units
B)set the overall mission of the company
C)provide talent management services
D)look outward
E)assess global political situations
Today's organizations must be visionary—that is, they must __________.
A)forecast sales perfectly
B)examine the past carefully so as to learn from mistakes
C)anticipate future events and respond quickly and effectively
D)turn over the employee base frequently to get the best new ideas
E)do all of the above
An organization's __________ are the fundamental, passionate and, enduring principles that guide its conduct over time.
A)core values
Which of the following statements about stakeholders is true?
A)Employees are typically not classified as a stakeholder group
B)There are only three types of external stakeholders—customers, suppliers and, distributors
C)All stakeholders are external to the organization
D)Stakeholders have a stake in how well a company performs
E)Stakeholders have no real impact on how well a company performs
Singtel’s core values include Teamwork – working as one team with shared goals. "We value ideas and contributions from everyone. We recognize, respect and value diversity in the team". Singtel’s core value sets the __________.
A)corporate confirmation
B)benefits statement
C)organizational culture
D)corporate profile
E)business edge
Designing a car is expensive and time-consuming even with the use of computers because until recently there was no way for all the varied departments that are involved in new car development to work together. Karz has created a unique central Web-based system that cuts the design and production process by at least two years, thus providing value to the customer. This is an example of a(n) __________.
A)benchmarking project
B)innovation-oriented mission
C)action program
D)operational goal implementation
When Sharp began manufacturing LCD flatscreen television, it studied small LCD flatscreen televisions manufactured by competitor Casio to learn how its LCD televisions are made and to use this information in its own design. It was engaging in __________.
B)competitive measuring
C)selective quality
The Boston Consulting Group (BCG) uses __________ to quantify performance measures and growth targets to analyze its clients' SBUs as though they were a collection of separate investments.
A)target marketing
B)business portfolio analysis
C)marketing strategic planning
D)market segmentation
E)stock segmentation
An organization using the __________ develops a simple, excellent offering that captures the imagination of its employees and its customers.
A)BCG matrix
B)Blue Ocean strategy
C)Green Forest analysis
D)Hedgehog Concept
E)Fox Analysis
__________ is an approach whereby an organization allocates its marketing mix resources to reach its target markets.
A)The calibrated marketing process
B)The strategic marketing process
C)The situational marketing process
D)The developmental market analysis
E)The market determinant method
If sales are shown as decreasing on your marketing dashboard, what should you investigate with market research?
A)The accounting records to be sure they are accurate
B)The financial statements
C)Whether consumer tastes have changed
D)The number of support personnel you have at the plant
E)How long the production line is running
The market-product focus and goal setting part of the planning process includes __________.
A)set market and product goals
B)select target markets
C)find points of difference
D)position the product
E)all of the above
Marketing goal setting involves setting measurable __________ to be achieved.
A)financial limits
B)marketing objectives
C)quality standards
D)production quotas
E)research and development aspirations
The __________ element of the marketing mix includes features, packaging, brand name and, warranty.
A marketing strategy is the means by which a marketing goal is to be achieved. Two factors that usually characterize a marketing strategy are __________.
A)specific goals and organizational objectives
B)a detailed marketing plan and marketing budget
C)marketing strategies and marketing tactics
D)a specified target market and a marketing program to reach it
E)marketing programs and deviation control
Which of the following is part of the Lenovo strategy to change the way consumers think about its gas stations?
A)Teaming up with highly respected business partners after acquiring IBM
B)Gain brand recognition
C)Innovation to meet consumers’ needs
D)Maintain strong and consistent marketing messages for its PCs
E)All of the above are part of the Lenovo strategy to shed its stereotyped image as a value-conscious PC
After examining a planning gap, firms typically attempt to __________.
A)decide if the time horizon should be increased or decreased
B)perform a SWOT analysis with their major competitor as the focus
C)use statistical trend analysis to interpret the results
D)exploit a positive deviation and correct a negative deviation
E)adopt a product-market focus

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