ADVANCED EXAM QUESTIONS AND ANSWER FOR
PRINCIPLES OF MARKETING 17TH EDITION
(KOTLER/ARMSTRONG) TESTBANK
The concept of "exchange" is fundamental to the definition of marketing. What is the
best description of exchange? - ANSWER The transfer of goods, services, or ideas
in return for something of value.
Products that are high in form utility: - ANSWER have attributes or features that set
them apart from the competition.
Which of the following has been cited as a major cause of declining brand loyalty in
the United States? - ANSWER Customers see competing products in many
industries as being virtually the same.
As illustrated in the text, the strategic planning process begins with: - ANSWER an
analysis of the firm's internal, customer, and external environments.
What is the primary theme of the Balanced Performance Scorecard approach to
strategic planning? - ANSWER financial performance is only one of four key
dimensions that should drive marketing planning
With respect to conducting a situation analysis, what does the phrase "Analysis
alone is not a solution" mean? - ANSWER Analysis must be combined with
managerial intuition and judgment.
Which of the following is an example of a generic competitor for any sport utility
vehicle? - ANSWER motorcycles
Advances in backstage technology usually affect marketing activities by: -
ANSWER making marketing activities more efficient and effective.
As a tool of Blue Ocean Strategy, the ________ provides a way to visualize the
firm's strategy relative to other firms in the industry. The horizontal axis identifies the
key factors that the industry competes on with the products that are offered to
customers. The vertical axis indicates the offering level that firms provide to buyers
across these factors. - ANSWER strategy canvas
Developing ________ is one of the major benefits a firm can gain from applying for
the Malcolm Baldrige National Quality Award. - ANSWER discontinuous objectives
With respect to the consumer buying process, ________ occurs only when the
customer's ability and willingness to pay for specific products backs up the wants for
those products. - ANSWER demand
PRINCIPLES OF MARKETING 17TH EDITION
(KOTLER/ARMSTRONG) TESTBANK
The concept of "exchange" is fundamental to the definition of marketing. What is the
best description of exchange? - ANSWER The transfer of goods, services, or ideas
in return for something of value.
Products that are high in form utility: - ANSWER have attributes or features that set
them apart from the competition.
Which of the following has been cited as a major cause of declining brand loyalty in
the United States? - ANSWER Customers see competing products in many
industries as being virtually the same.
As illustrated in the text, the strategic planning process begins with: - ANSWER an
analysis of the firm's internal, customer, and external environments.
What is the primary theme of the Balanced Performance Scorecard approach to
strategic planning? - ANSWER financial performance is only one of four key
dimensions that should drive marketing planning
With respect to conducting a situation analysis, what does the phrase "Analysis
alone is not a solution" mean? - ANSWER Analysis must be combined with
managerial intuition and judgment.
Which of the following is an example of a generic competitor for any sport utility
vehicle? - ANSWER motorcycles
Advances in backstage technology usually affect marketing activities by: -
ANSWER making marketing activities more efficient and effective.
As a tool of Blue Ocean Strategy, the ________ provides a way to visualize the
firm's strategy relative to other firms in the industry. The horizontal axis identifies the
key factors that the industry competes on with the products that are offered to
customers. The vertical axis indicates the offering level that firms provide to buyers
across these factors. - ANSWER strategy canvas
Developing ________ is one of the major benefits a firm can gain from applying for
the Malcolm Baldrige National Quality Award. - ANSWER discontinuous objectives
With respect to the consumer buying process, ________ occurs only when the
customer's ability and willingness to pay for specific products backs up the wants for
those products. - ANSWER demand
