Marketing MKT 305 Exam 1 Study Guide and Practice
Questions
Appropriate resource allocation strategies for a business unit classified as a star include:
a. divest, niche, and maintain
b. divest, niche, and harvest
c. harvest and maintain
d. build and maintain
e. build, niche, and divest - ANS✔✔ a. divest, niche, and maintain
When compared to Toyota, Volvo is viewed by consumers as a brand that stresses "driver
safety." This consumer viewpoint is referred to as __________.
a. target marketing
b. positioning strategy
c. market segmentation
d. marketing strategy
e. marketing program - ANS✔✔ d. marketing strategy
An example of __________ would be the cumulative effect of receiving daily credit card
applications from Citibank to the point where the customer wants nothing to do with the
company or its products.
a. built-in obsolescence
b. supply-side market failure
c. demand-side market failure
,d. categorical failure
e. inefficient targeting - ANS✔✔ b. supply-side market failure
Which of the following strategic tools is used to combine the strengths and weaknesses of a
company along with the opportunities and threats that exist in the firm's environment to
develop possible future marketing strategies?
a. BCG matrix
b. GE matrix
c. SWOT matrix
d. PIMS matrix
e. SBU matrix - ANS✔✔ c. SWOT matrix
When Tylenol considers developing new products, the company thoroughly discusses how its
products may be misused by consumers, this is an example of __________?
a. the principle of utility
b. ethical vigilance
c. cause-related marketing
d. the categorical imperative
e. the social contract - ANS✔✔ d. the categorical imperative
An effective marketing mix __________.
a. is specifically tailored for a target market and reinforces the firm's positioning strategy.
b. consists of all the products that a firm produces.
c. is how products are perceived by consumers in the marketplace.
, d. consists of homogeneous groups of consumers who have similar wants and needs.
e. all of the above - ANS✔✔ a. is specifically tailored for a target market and reinforces the
firm's positioning strategy.
The makers of Bounce fabric softener sheets are now also positioning Bounce as an effective air
freshener for automobiles. This is referred to as a _____________ strategy.
a. market penetration
b. market development
c. product development
d. product diversification
e. market integration - ANS✔✔ c. product development
The process of selecting a specific market to focus the firm's marketing efforts upon is referred
to as __________?
a. target marketing.
b. market research.
c. customer orientation.
d. market management.
e. market segmentation. - ANS✔✔ a. target marketing.
Marketers commonly "hold title" to the product before it is actually sold to the final customer.
As such, marketers are engage in which of the following exchange activities?
a. storing
b. transporting
Questions
Appropriate resource allocation strategies for a business unit classified as a star include:
a. divest, niche, and maintain
b. divest, niche, and harvest
c. harvest and maintain
d. build and maintain
e. build, niche, and divest - ANS✔✔ a. divest, niche, and maintain
When compared to Toyota, Volvo is viewed by consumers as a brand that stresses "driver
safety." This consumer viewpoint is referred to as __________.
a. target marketing
b. positioning strategy
c. market segmentation
d. marketing strategy
e. marketing program - ANS✔✔ d. marketing strategy
An example of __________ would be the cumulative effect of receiving daily credit card
applications from Citibank to the point where the customer wants nothing to do with the
company or its products.
a. built-in obsolescence
b. supply-side market failure
c. demand-side market failure
,d. categorical failure
e. inefficient targeting - ANS✔✔ b. supply-side market failure
Which of the following strategic tools is used to combine the strengths and weaknesses of a
company along with the opportunities and threats that exist in the firm's environment to
develop possible future marketing strategies?
a. BCG matrix
b. GE matrix
c. SWOT matrix
d. PIMS matrix
e. SBU matrix - ANS✔✔ c. SWOT matrix
When Tylenol considers developing new products, the company thoroughly discusses how its
products may be misused by consumers, this is an example of __________?
a. the principle of utility
b. ethical vigilance
c. cause-related marketing
d. the categorical imperative
e. the social contract - ANS✔✔ d. the categorical imperative
An effective marketing mix __________.
a. is specifically tailored for a target market and reinforces the firm's positioning strategy.
b. consists of all the products that a firm produces.
c. is how products are perceived by consumers in the marketplace.
, d. consists of homogeneous groups of consumers who have similar wants and needs.
e. all of the above - ANS✔✔ a. is specifically tailored for a target market and reinforces the
firm's positioning strategy.
The makers of Bounce fabric softener sheets are now also positioning Bounce as an effective air
freshener for automobiles. This is referred to as a _____________ strategy.
a. market penetration
b. market development
c. product development
d. product diversification
e. market integration - ANS✔✔ c. product development
The process of selecting a specific market to focus the firm's marketing efforts upon is referred
to as __________?
a. target marketing.
b. market research.
c. customer orientation.
d. market management.
e. market segmentation. - ANS✔✔ a. target marketing.
Marketers commonly "hold title" to the product before it is actually sold to the final customer.
As such, marketers are engage in which of the following exchange activities?
a. storing
b. transporting
