marketing exam t/f
Many companies have dropped formal strategic planning models like the BCG because they can be difficult, time consuming, and costly to implement.
true
Marketers must practice constant marketing control to ensure that objectives are attained.
true
A brand's value proposition is the set of benefits or values it promises to deliver to consumers to satisfy their needs.
true
A company can assess marketing ROI in terms of standard marketing performance measures, such as brand awareness, sales, or market share
true
A market is a segment of potential consumers who share a common need or want
true
Advertising agencies that help a company target a certain section of customers are marketing intermediaries
true
An organization's mission statement should emphasize its intentions toward customers and the customer experience the organization seeks to create
true
Companies like Coca-Cola and Facebook deliver customer satisfaction by spreading happiness and connecting individuals through shared experiences.
true
Through consumer-generated marketing, consumers themselves are playing a bigger role in shaping their own brand experiences and those of others.
true
Product, price, place, and promotion make up the elements of a firm's marketing mix.
trur
"At CL Online, we create customer connectivity, anytime, anywhere" is a product-oriented mission statement.
false
"At Dodson, we sell shoes" is a market-oriented business definition.
false
A company's customer value delivery network does not include members external to the organization.
false
A customer buys a can of Pepsi from a Walmart store. In this scenario, Walmart is a supplier in Pepsi's value delivery network.
false
A greater focus on underlying customer needs than on existing customer wants leads to marketing myopia.
false
An SBU can be a company division or a product line within a division, but not a single product or brand.
false
Barnacles are customers who are potentially profitable but not loyal
false
Club marketing programs reward customers who buy frequently or in large amounts
false
Customer equity is a measure of the past value of a company's customer base.
false
Customer relationship management focuses on retaining existing customers but not on acquiring new customers
false
Holiday Inn divided the total customer market into smaller segments and selected the most promising segments. Deciding what position it wants to occupy in these segments is called diversification
false
In a SWOT analysis, strengths and weaknesses refer to a firm's external environment, while opportunities and threats refer to the internal environment.
false
In markets with few customers and high margins, sellers should try to develop basic relationships rather than full partnerships.
false
In the 4Ps of the marketing mix, promotion refers solely to advertising.
false
In the marketing mix, product refers to activities that communicate the merits of a product and persuade target customers to buy it.
false
Many SBUs start out as stars and move into the question mark category if they succeed
false
Market offerings are limited to physical products
false
Market offerings include entities such as people, places, information, and ideas.
false
Marketing intermediaries supply resources needed by a company to produce its goods and services
false
Marketing is primarily concerned with engaging customers and secondarily with managing profitable customer relationships.
false
Most firms begin the strategic planning process by developing detailed marketing and departmental plans that support a company-wide plan.
false
Since less than ten percent of smartphone owners use their phones for shopping-related activities, mobile marketing is a slow growing digital marketing platform.
false
The Office Depot Foundation serves its financial publics through a variety of programs.
false
The growth rate of a strategic business unit that is classified as a star remains constant over time
false
The more loyal a firm's profitable customers, the lower its customer equity
false
The most common form of marketing organization is the product management organization.
false
The most important actors in a company's microenvironment are its competitors
false
The position of a strategic business unit in the growth-share matrix typically remains constant over time.
false
When backed by buying power, wants become needs.
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.
false
Xenon Corp. releases frequent updates to improve its expensive software products. This marketing approach used by the firm is most likely based on the production concept.
false
The product concept holds that consumers will favor products that offer the most in quality, performance, and innovative features.
true
The product-market expansion grid, like the BCG matrix, is used to identify growth opportunities.
true
In the marketing mix, product includes the goods and services the company offers to the target market, while promotion includes advertising.
true`
A bank that helps a company finance transactions is both a financial intermediary and a financial public
true
The 4As framework takes into consideration the buyer's view of the market.
true
The marketing concept is a customer-centered, sense-and-respond philosophy
true
A company can offer greater customer value by either charging lower prices than competitors or offering more benefits to justify higher prices.
true
A firm's marketing department must partner with other company departments to produce superior value for customers.
true
Customer-perceived value is defined as a customer's evaluation of the perceived difference between all the benefits and all the costs of a market offering relative to those of competing offers
true
In the final step of a marketing process, a company reaps the rewards of its strong customer relationships by capturing value from customers.
true
Marketing dashboards are used to monitor strategic marketing performance.
true
Organizations that follow the societal marketing concept most likely practice socially and environmentally responsible marketing.
true
SBUs identified as cash cows need less investment than stars.
true
Success at delivering customer value rests on how well a company's entire supply chain performs against competitors' supply chains
true
