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MM Lecture 1-2

Total questions: 15

Worksheet time: 8mins

Name
Class
Date
1.

The task of any business is to ________.

a)

create customer needs

b)

differentiate in terms of cost of production

c)

deliver customer value at a profit

d)

reduce competition

2.

The "Malaysia, Truly Asia" ad campaign that showcased Malaysia's beautiful landscape and its multicultural society in order to attract tourists is an example of ________ marketing.

a)

event

b)

property

c)

service

d)

place

3.

In Walt Disney's Magic Kingdom, customers can visit a fairy kingdom, a pirate ship, or even a haunted house. Disney is marketing a(n) ________.

a)

experience

b)

service

c)

event

d)

organization

4.

Janet is very upset that she can't get tickets to the Rolling Stones concert because they are sold out. Which of the following demand states applies to Janet's situation?

a)

nonexistent demand

b)

latent demand

c)

full demand

d)

overfull demand

5.

When consumers share a strong need that cannot be satisfied by an existing product, it is called ________ demand.

a)

negative

b)

latent

c)

declining

d)

irregular

6.

The value delivery process can be divided into three phases, out of which "choosing the value" implies ________, which is the essence of strategic marketing.

a)

segmentation, developing, and delivering

b)

targeting, positioning, and communicating

c)

targeting, positioning, and delivering

d)

segmentation, targeting, and positioning

7.

Today, the "mass market" is actually splintering into numerous segments, each with its own wants, perceptions, preferences, and buying criteria. This implies that ________.

a)

the traditional marketing approach would be the best approach to follow

b)

the producers must consider themselves as a part of the value-chain process

c)

the producers should focus on niche markets

d)

all market segments are equally profitable

8.

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)

developing

b)

positioning

c)

communicating

d)

researching

9.

Angelo made the decision to outsource the software components of his consulting company so he could focus on the company's ________, which are sources of competitive advantage, make a contribution to perceived customer benefits, have application in a wide variety of markets, and are difficult to imitate.

a)

core competencies

b)

infrastructure

c)

market-sensing processes

d)

outbound logistics

10.

Which of the following can be considered a primary activity in the value chain process?

a)

human resource management

b)

technology development

c)

inbound logistics

d)

firm infrastructure

11.

A strategy is a game plan for achieving what the business unit wants to achieve.

a)

True

b)

False

12.

Mission statements that express unrealistic visions are usually unable to inspire employees to achieve their targets.

a)

True

b)

False

13.

"What will we do if it happens?" is a question that managers typically ask while conducting a scenario analysis.

a)

True

b)

False

14.

When ESPN found new products for its existing markets by expanding into 10 cable channels, a Web site, and a magazine, it was using a product-development strategy.

a)

True

b)

False

15.

If SanDisk demonstrates the benefits of using its flash memory storage/USBs for data storage in addition to music storage as a way to encourage its current customers to buy more of its existing product offering, it is using a diversification strategy.

a)

True

b)

False