NEW
Font size
WorksheetsMM Lecture 1-2
Total questions: 15
Worksheet time: 8mins
The task of any business is to ________.
create customer needs
differentiate in terms of cost of production
deliver customer value at a profit
reduce competition
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.
event
property
service
place
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) ________.
experience
service
event
organization
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?
nonexistent demand
latent demand
full demand
overfull demand
When consumers share a strong need that cannot be satisfied by an existing product, it is called ________ demand.
negative
latent
declining
irregular
The value delivery process can be divided into three phases, out of which "choosing the value" implies ________, which is the essence of strategic marketing.
segmentation, developing, and delivering
targeting, positioning, and communicating
targeting, positioning, and delivering
segmentation, targeting, and positioning
Today, the "mass market" is actually splintering into numerous segments, each with its own wants, perceptions, preferences, and buying criteria. This implies that ________.
the traditional marketing approach would be the best approach to follow
the producers must consider themselves as a part of the value-chain process
the producers should focus on niche markets
all market segments are equally profitable
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.
developing
positioning
communicating
researching
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.
core competencies
infrastructure
market-sensing processes
outbound logistics
Which of the following can be considered a primary activity in the value chain process?
human resource management
technology development
inbound logistics
firm infrastructure
A strategy is a game plan for achieving what the business unit wants to achieve.
True
False
Mission statements that express unrealistic visions are usually unable to inspire employees to achieve their targets.
True
False
"What will we do if it happens?" is a question that managers typically ask while conducting a scenario analysis.
True
False
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.
True
False
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.
True
False
