69 Free Test Bank for Marketing Management 4th Edition by Winer

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Which of the following is an example of internal change?

•  A) change in customer preferences
•  B) a new regulation
•  C) price change of raw materials
•  D) automation decision

Why is ubiquitous marketing concept considered to be dangerous?

•  A) It has a negative impact on the performance of marketing department.
•  B) It would result in increased costs for the company.
•  C) It would reduce the importance of a distinct marketing department.
•  D) People from other departments may refrain from marketing efforts.

Which of the following is not a component of the traditional value chain?

•  A) inbound marketing programs
•  B) raw materials
•  C) product/services
•  D) assets/core competencies

Which of the following approaches has the least amount risk associated with it when developing a new product?

•  A) marketing driven
•  B) sales driven
•  C) technology driven
•  D) customer driven

The traditional value chain adopts a ________ oriented approach.

•  A) company
•  B) customer
•  C) service
•  D) competitor

Which of the following statements supports the sales driven approach to the marketplace?

•  A) Profit maximization is the ultimate motive of a business.
•  B) A superior product can drive the sales in a company.
•  C) Market capitalization is the ultimate motive of a business.
•  D) Sales and profit maximization are dependent on customer value.

Identify the question that is least significant in determining whether your organization is customer-oriented.

•  A) Are you easy to do business with?
•  B) Do you keep your promises?
•  C) Do you use frequent advertisement?
•  D) Do you meet the standards you set?

Identify a criticism that is often associated with marketing.

•  A) It makes customers buy things that they do not really want.
•  B) It is not helpful in creating customer value.
•  C) It fully ignores customer needs and wants.
•  D) Marketing is often restricted to branding and communication.

Which of the following organizational structures will be suited for a company that sells business to business products?

•  A) market-based structure
•  B) product-focused structure
•  C) classic brand structure
•  D) internationally focused structure

Which of the following is a disadvantage of an over-engineered product?

•  A) The quality of the product will be low.
•  B) It is less robust for its application.
•  C) It is associated with operational problems.
•  D) The product will have unwanted features.

________ driven approach is an aggressive, push-the-catalogue approach to marketing.

•  A) Technology
•  B) Sales
•  C) Marketing
•  D) Customer

Which of the following is the key difference between traditional value chain and the new versions of the value chain?

•  A) The value chain starts with the customer in the new perspective.
•  B) Customer needs are ignored in traditional value chain.
•  C) Traditional versions are not focused on core competencies and assets.
•  D) Outbound marketing chain is used in the new perspective.

The danger associated with remaining customer-led is that:

•  A) businesses may ignore unexploited opportunities.
•  B) customer benefits may not be considered always.
•  C) businesses might ignore core competencies when serving customers.
•  D) the marketing programs would turn out to be outbound.

Which of the following observations is true regarding a customer-oriented organization?

•  A) Marketing in these organizations translate benefits into products and services.
•  B) These organizations create needs for customers.
•  C) These organizations spend more on R&D than marketing.
•  D) These organizations spend heavily on research till the product is finely honed.

A few customers cost more to serve than the revenues they generate. Identify the most appropriate way to handle these customers.

•  A) Attempt to turn away the unprofitable customers.
•  B) Provide services at a discounted rate to these customers.
•  C) Avail preferential treatment to these customers.
•  D) Design specific marketing messages for these customers.

Product-focused organizational structure is not suited for:

•  A) business-to-business products.
•  B) retail products.
•  C) consumer durables.
•  D) internationally focused products.

Strategic and tactical decisions in a customer-oriented organization should be made:

•  A) cross-functionally and cross-divisionally.
•  B) by the marketing department.
•  C) by the services department.
•  D) by the customer relations department.

An organization spends heavy research and development and has a product focus. This organization is likely to have a ________ driven approach to the marketplace.

•  A) sales
•  B) marketing
•  C) customer
•  D) technology

Which of the following statements supports technology driven approach to the marketplace?

•  A) Products should be tested and proven before releasing them.
•  B) Providing technology to salespeople can help increase volumes.
•  C) Quality improvement in products can result in customer value.
•  D) Customer information systems can be used to increase sales.

Customers will not always be able to tell you what products they want and need because:

•  A) customers are aware of only the problems that they have.
•  B) customers are not conscious about the cost of product development.
•  C) a marketer may not have direct contact with the customer.
•  D) the solutions suggested by customers will not be feasible.

A lowest level manager in product management structure is termed:

•  A) product manager.
•  B) marketing manager.
•  C) product group manager.
•  D) planning manager.

Identify the statement that supports ubiquitous marketing department concept.

•  A) Marketing is performed by all departments and functions in an organization.
•  B) Marketing is what the people in the marketing department do.
•  C) Employees in an organization are collectively responsible for marketing efforts.
•  D) Marketing department should be integrated with service and sales.

Which of the following is a plausible marketing observation?

•  A) Marketing managers must spend a considerable amount of time talking to customers.
•  B) New competitors' actions are easier to predict than existing competitors' actions.
•  C) Customers can always tell you what products they want and what features they need.
•  D) Unlike general societal trends, changes in customer tastes occur frequently.

Which of the following is the disadvantage of marketing driven approach to the marketplace?

•  A) This kind of organization is slow to respond to changes.
•  B) This approach is associated with high level of risk.
•  C) It is not suited for high-scale products such as consumer goods.
•  D) This approach does not consider customer opinion.

Which of the following observations is true about the market driven approach to marketplace?

•  A) This kind of organization embraces marketing to excess.
•  B) This approach is adopted by high-risk taking companies.
•  C) This approach is not suited for consumer goods manufacturers.
•  D) This kind of organization can quickly respond to changes in the marketplace.

According to the text, organizations can become customer-oriented by:

•  A) distributing information on all important buying influences only among marketing department personnel and brand managers.
•  B) making strategic and tactical decisions interfunctionally and interdivisionally.
•  C) spending large sums of money in research and development.
•  D) introducing line extensions rather than creating new products.

Which of the following statements is not consistent with the marketing concept?

•  A) The focus of a business is not profits but customers.
•  B) A business should have competitor focus.
•  C) Customer needs should be served at all costs.
•  D) A business need not serve unprofitable customer segments.

The marketing concept philosophy emphasizes the need to have a:

•  A) price advantage.
•  B) unique product.
•  C) sustainable strategy.
•  D) customer focus.

Which of the following is the main focus of a sales driven organization?

•  A) Creating and delivering customer value.
•  B) Maximizing the profit generated.
•  C) Increasing market share and volumes.
•  D) Converting the marketing efforts to profits.

What are the two dimensions of the four-quadrant model as presented by Gary Hamel and C.K. Prahalad?

•  A) customer needs and customer types
•  B) consumer demand and perceived value
•  C) value provided and cost incurred
•  D) brand value and actual sales

A company can maximize sales by offering the best product. This statement supports the ________ driven approach.

•  A) marketing
•  B) sales
•  C) technology
•  D) customer

Cross-tab Research Inc. is a research services company that offers market research services to companies worldwide. Which of the following types of companies would be great customers of Cross-tab?

•  A) marketing driven
•  B) sales driven
•  C) technology driven
•  D) customer driven

Marketing is pervasive in most developed economies due to:

•  A) large disposable income.
•  B) increased competition.
•  C) increased consumer awareness.
•  D) intense economic activity.

Marketing is involved and necessary when:

•  A) the sellers have increased bargaining power.
•  B) the buyers have many choices.
•  C) there is no competition in the industry.
•  D) the market is monopolistic.

Which of the following is a disadvantage of sales driven approach?

•  A) It is not suitable for services such as banking.
•  B) It might not deliver long term value to customers.
•  C) The company cannot make profits.
•  D) It uses inexperienced sales personnel.

A company that follows the marketing concept philosophy should:

•  A) serve all customer needs at all costs.
•  B) understand that the customer is always right.
•  C) understand that there is no such thing as a bad customer.
•  D) serve only profitable customers.