Exam (elaborations)
Chapter 2 Developing and Implementing Marketing Strategies and Plans
- Course
- Business
- Institution
- West Virginia Business College
Chapter 2 Developing and Implementing Marketing Strategies and Plans
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Chapter 2 Developing and Implementing Marketing Strategies and Plans1. The task of any business is to .
A) create customer needs
B) differentiate in terms of cost of production
C) deliver customer value at a profit
D) reduce competition
E) communicate similar value as provided by competitors
Page: 33
C
2. What is the traditional view of marketing?
A) Firms should just focus on production because if the products are good then they will
automatically sell.
B) Firms should just focus on production and selling because marketing occurs as a part of the
selling process.
C) Firms should have a proper marketing team that can increase consumers' awareness of their
products and rouse their interest in them.
D) Firms should price their products as low as possible so that marketing them becomes easy.
E) Firms should remember that promotion is the most important of the four Ps.
Page: 33
B
3. Value delivery process can be divided into three phases, out of which "choosing the value" implies
, which is the essence of strategic
marketing. A) segmentation, developing, and
delivering
B) targeting, positioning, and communicating
C) targeting, positioning, and delivering
D) segmentation, targeting, and positioning
E) researching, developing, and delivering
Page: 34
D
4. Apex Corporation is one of the best in its industry in terms of costs and performance. Many
companies in its industry will probably consider Apex as a .
A) pioneer
B) benchmark
C) target for acquisition
D) future supplier
E) sounding board for ideas
Page: 34
B
5. James Frank has been put in charge of gathering marketing intelligence, disseminating it within his
organization, and eventually directing action on the information. Mr. Frank's task is best described
as part of the .
A) market-sensing process
B) new-offering realization process
C) customer acquisition process
D) customer relationship management process
, E) fulfillment management process
Page: 34
A
6. When a customer places an order at BookBox.com, the company processes the customer's payment
information, sends the order to the nearest warehouse, and ships the order via FedEx. This is best
described as the .
A) market-sensing process
B) customer acquisition process
C) customer relationship management process
D) fulfillment management process
E) new-offering realization process
Page: 34
D
7. Today, the "mass market" is actually splintering into numerous segments, each with its own wants,
perceptions, preferences, and buying criteria. This implies that .
A) the traditional marketing approach would be the best approach to follow
B) the producers must consider themselves as a part of the value-chain process
C) the producers should focus on niche markets
D) all market segments are equally profitable
E) target market strategies are no longer effective
Page: 34
B
The first phase of the value creation and delivery sequence is that represents the
8. "homework" marketing must do before any product exists.
A) choosing the value
B) providing the value
C) communicating the value
D) considering the value
E) acquiring the value
Page: 34
A
The last step in the value creation and delivery sequence is the value where the sales
9. force, sales promotion, advertising, and other communication tools announce and promote the
product.
A) developing
B) positioning
C) communicating
D) reversing
E) researching
Page: 34
C
In the cycle of complete strategic planning, taking corrective action is a part of
10. . A) planning
B) implementation
, C) controlling
D) organizing
E) analyzing
Page: 37
C
11. The in the value chain cover the sequence of bringing materials into the business
(inbound logistics), converting them into final products (operations), shipping out final products
(outbound logistics), marketing them (marketing and sales), and servicing them (service).
A) operations processes
B) manufacturing processes
C) primary activities
D) secondary activities
E) tertiary activities
Page: 34
C
12. Michael Porter's value chain would identify which of the following as a support activity?
A) shipping out final products
B) marketing products
C) procurement
D) servicing products
E) operations
Page: 34
C
Which of the following can be considered a primary activity in the value chain process?
13. A) procurement
B) human resource management
C) technology development
D) inbound logistics
E) firm infrastructure
Page: 34
D
The fulfillment management process includes all the activities in
14. . A) gathering and acting upon information about the market
B) researching, developing, and launching new high-quality offerings quickly and within budget
standards
C) defining target markets and prospecting for new customers
D) building deeper understanding, relationships, and offerings to individual customers
E) receiving and approving orders, shipping the goods on time, and collecting payment
Page: 34
E
With respect to core business processes, the includes all the activities involved in
15. gathering external information, disseminating it within the organization, and acting on the
information.
A) market-sensing process
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