WorksheetsMarketing Concepts Quiz
Total questions: 20
Worksheet time: 10mins
A product that provides the utmost in convenience is said to offer exceptional:
time and place utility.
time and possession utility.
place and possession utility.
form and time utility.
__________ is the curse of mature markets whereby products lack any real means of differentiation and customers see competing products as offering roughly the same benefits.
Market homogeneity
Commoditization
Specialization
Maturation
Although mass media audiences are becoming increasingly fragmented, media fragmentation does have a major advantage. What is this advantage?
It is now easier to reach small, highly targeted audiences.
It now costs less to reach a mass audience.
Consumers are now highly susceptible to online advertising.
Consumers are now much more receptive to television advertising.
List the elements that make up a marketing program.
Product and target market.
Target market and marketing mix.
Price, promotion, place, and product.
Marketing mix, price, and promotion.
Furniture Mart offers services such as financing and home delivery to its customers. What type of utility is Furniture Mart trying to increase?
Possession utility.
Psychological utility.
Place utility.
Time utility.
Which of the following is not a purpose of a marketing plan?
It explains the present and future situations of the organization.
It specifies the expected outcomes of the plan.
It explains how marketing activities netting with other functional areas.
It identifies resources needed to carry out the plan.
With respect to developing a marketing plan, what does it mean for a marketing plan outline to be consistent?
The outline should have the ability to be modified to fit the situation.
The outline should have some connection to other functional area plans.
The outline should flow in a logical manner.
The outline should be consistent across firms in the same industry.
In developing a marketing plan, the section on goals and objectives defines the parameters by which the firm will measure actual performance. In this respect, the goals and objectives section is tied closely to the __________ section of the marketing plan.
SWOT analysis
evaluation and control
marketing implementation
situation analysis
When a firm possesses capabilities that allow it to serve customers’ needs better than the competition, the firm is said to have a:
resource advantage.
marketing advantage.
value-based advantage.
competitive advantage.
Whether at the corporate, business-unit, or functional level, the planning process always begins with an in-depth:
statement of goals and objectives.
situation analysis.
strategy for achieving growth.
statement of the organisation’s competitive advantages.
Which of the following is not a part of evaluating the internal environment?
A review of current objectives, strategy, and performance.
A review of the current availability of organizational resources.
A review of the organizational culture
A review of the competition.
As a form of __________ competition, bicycles can solve the same basic need as automobiles, although with a very different product.
regular
brand
product
generic
Which of the following best describes the definition of data?
A collection of numbers or facts that have the potential to provide information.
Information that is useful to decision makers.
An analysis of information that is used to improve decision making.
A variety of sources that are used for organizational planning purposes.
Issues such as marketing’s position and authority in a firm’s hierarchy, the customer orientation of the firm, and the emphasis on short- or long-term planning are examples of which component of the internal environment?
Resource availability.
Marketing objectives.
Organizational structure.
Marketing infrastructure.
The growth of the Internet has changed the way that situation analysis is conducted in today’s business environment. In terms of situation analysis, which of the following is the most drastic change caused by the Internet?
Specific data and information take longer to find.
The analyst is more likely to suffer from severe information overload.
Data and information are now more relevant to the question at hand.
All competitors now have access to the same data and information.
With respect to conducting a situation analysis, which of the following is not one of the four important issues to keep in mind?
Analysis alone is not a solution.
Data are not the same as information
All bits of data are relevant no matter how minor they may seem.
Conducting a situation analysis is a challenging exercise.
In terms of SWOT analysis, when does a strength become a capability of the firm?
When the strength can be tied to satisfying a customer need.
When the strength cannot be copied by competitors.
When the strength stands alone without any corresponding weaknesses.
When the strength can be supported by sufficient resources.
Kodak focused on maintaining market dominance over Polaroid and Fuji but failed to consider Sony, Nikon, Canon, and even smartphones. What mistake did Kodak make?
It refused to collaborate with its competitors.
It identified the wrong brand competitors.
It was too obsessed with market dominance.
It didn’t engage in competitive analysis.
The overall concept or model that guides the firm as it weaves various marketing elements together into a coherent strategy is called its:
marketing strategy.
operational focus.
strategic posture.
strategic focus.
Expansion and growth, with new products and new markets, are the keys to Google’s __________ approach to marketing strategy. Google uses this approach because it possesses many different strengths that coincide with key market opportunities.
defensive
focused
aggressive
diversified
