Quiz 1 (ch 1-4)
Most firms begin the strategic planning process by developing detailed marketing and departmental plans that support a company-wide plan. T/F
False
When sellers pay less attention to the specific products they offer and more attention to the benefits and experiences produced by these products, they suffer from marketing myopia. T/F
False
Causal research is used to ________. A) Generate hypotheses about the causes of a marketing problem B) Test hypotheses about cause-and-effect relationships C) Gather preliminary data to define problems and their underlying causes D) Collect information on the attitudes of consumers E) Collect information on the demographics of customers
B) Test hypotheses about cause-and-effect relationships
Which of the following sources constitutes the internal database of a company? A) Commercial online databases B) The company's sales records C) The Web D) Conversations on social media E) Reports sold by market research firms
B) The company's sales records
________ refers to the process of evaluating each market segment's attractiveness and selecting one or more segments to enter. A) Market divesting B) Market positioning C) Market targeting D)Market diversification E) Market mixing
C) Market targeting
Which of the following is part of the microenvironment of a firm's marketing environment? A) The political state of the country in which the firm exists B) The different demographic trends in the market C) The technological resources available to the company D) The suppliers who work with the company E) The cultural forces that exist in a society
D) The suppliers who work with the company
According to the five-step model of the marketing process, the first step in marketing is ________. A) Capturing value from customers to create profits and customer equity B) Designing a customer-driven marketing strategy C) Engaging customers, building profitable relationships, and creating customer delight D) Constructing an integrated marketing program that delivers superior value E) Understanding the marketplace and customer needs and wants
E) Understanding the marketplace and customer needs and wants
A strategic business unit (SBU) can be a company division or a product line within a division but not a single product or brand. T/F
False
Cause-related marketing techniques are typically unprofitable for businesses, which is why it is a rarely used form of corporate giving. T/F
False
An effective MIS assesses information needs, develops needed information, and distributes the information to help managers with decision making. T/F
True