Professional Documents
Culture Documents
MCQs
1. When a company decides what organizations it wishes to serve in the productmarket, the company is engaged in choosing the _____.
A. Customer relationship management
B. Strategic marketing
C. Market target
D. Corporate positioning
2. Market orientation:
A)
B)
C)
D)
4. Value is:
A)
B)
C)
D)
Determined by management
determined by customers/consumers
defined solely on economic terms
defined by competitive offerings
Market orientation
Competitor intelligence
Cross-functional coordination
Distinctive capabilities
6. _____ consist(s) of deciding the scope and purpose of the business, the objectives
and the resources necessary to achieve the objectives.
A. Corporate strategy
B. Business and marketing strategy
C. Market sensing
D. Customer relationship management
7. Which of the following has the greatest LONG RUN impact upon firms, industries,
and/or competitions?
A)
B)
C)
D)
Advertising
Pricing
Value migration
Distribution
B)
C)
D)
E)
how often that sellers alter their prices, how sensitive buyers are to price
differences among sellers, whether the item being purchased is a good or
a service, and whether buyers buy frequently or infrequently.
the frequency with which rival firms change strategies and the amount of
advertising that sellers utilize.
whether all buyers have the same degree of negotiating power, whether
the item carries a high or low price tag, and whether there are many or
few collaborative partnerships between sellers and buyers.
whether buyers purchase in relatively large or small quantities,
whether the costs of switching to competing brands or to
substitute products are high or low, and how well informed
buyers are about sellers' prices, products, and costs.
whether buyer demand is seasonal or year-round, whether entry barriers
are high or low, and whether competitive pressures from substitutes are
strong or weak.
10. Which of the following conditions generally raise the barriers to entering an
industry?
A)
B)
Low levels of brand loyalty on the part of customers and the presence of
more than 20 rivals in the industry
Rapid market growth, low buyer switching costs, and weak brand
preferences and customer loyalty
C)
D)
Product offerings that are pretty much standardized from rival to rival
High capital requirements, difficulties in building a network of
distributors-retailers and securing adequate space on retailers'
shelves, and the likelihood that industry incumbents will strongly
contest the efforts of new entrants to gain a market foothold
The industry is not characterized by scale economies and/or sizable
learning/experience curve effects and few firms in the industry hold key
patents and/or possess significant proprietary technology not readily
available to a newcomer
E)
11. A _____ is the combination of the product, value chain, price and promotion
strategies a firm uses to position itself against its competitors in meeting the needs
of a market target.
A. Customer relationship strategy
B. Strategic market
C. Market target
D. Positioning strategy
12. The product, distribution, price and promotion strategy components are the
markeing _____
A)
B)
C)
D)
Relationship
Idea
Target
Mix
13. If critical inputs are in jeopardy or prices of those inputs are extraordinarily high, companies may
pursue vertical integration strategies or develop collaborative relationships to reduce the _____
A)
B)
C)
D)
may
may
may
any,
15. The three main elements of the CRM are given below except one
A)
B)
C)
Wrapping the firm around the customer to ensure that each contact with
the customer is appropriate and based upon extensive knowledge of both
the customer's needs and profitability
Creating a full picture of the customer
D)
B)
C)
D)
17. Which of the following statements shows the concern of strategic level CRM
A)
B)
C)
D)
B)
C)
D)
19.Which of the following is not among the factors that determine whether
competitive rivalry among industry members is strong, moderate, or weak?
A)
B)
C)
D)
E)
20. Market segmentation may occur at any of the following product-market levels
EXCEPT:
A)
B)
C)
D)
21. In Best Buy example discussed in the chapter, which one decision illustrates
strategic segmentation
A)
B)
C)
D)
22. _____________are most often more useful to describe consumer segments after
they have been formed rather than to identify them
A)
B)
C)
D)
Psychographics
Demographics
Geographic
Perceptual maps
23. Which of the following factors has the greatest impact upon the consumer's
selection of a product/service for purchase?
A)
B)
C)
D)
needs
perceptions
attitudes
advertising
24. Which one of the statement shows the stability criteria for segmentation?
A)
B)
C)
D)