BUSA 330 Learning Catalytics: Exam #1
Which of the following is true of the BCG matrix approach? A. It is inexpensive to implement. B. It does not have any limitations. C. It considers market growth rate to be a measure of market attractiveness. D. It describes consumer motivations and needs. E. It does not consider relative market share to be a measure of company strength in the market.
C. It considers market growth rate to be a measure of market attractiveness.
Which of the following is true of the BCG matrix approach? A> It is inexpensive to implement. B. It does not have any limitations. C. It considers market growth rate to be a measure of market attractiveness. D. It describes consumer motivations and needs. E. It does not consider relative market share to be a measure of company strength in the market.
C. It considers market growth rate to be a measure of market attractiveness.
Which of the following customer questions is answered by a company's value proposition? A. "Why should I buy your brand rather than a competitor's?" B. "What is your company's estimated customer equity?" C. "What are the costs involved in the production of your brand?" D. "What is the budget allocated by your company for research and development?" E. "What is the financial stability of your company?"
A. "Why should I buy your brand rather than a competitor's?"
Which of the following marketing management orientations focuses primarily on improving efficiencies along the supply chain? A. production concept B. product concept C. selling concept D. marketing concept E. societal marketing concept
A. production concept
Which of the following is the first step in strategic planning? A. setting short-term goals B. developing the business portfolio C. defining the organizational mission D. formulating the key marketing strategies E. identifying the organization's weaknesses and the threats it faces
C. defining the organizational mission
Which of the following is NOT an example of product-oriented mission statements? A. "We are an online library." B. "We run theme parks." C. "We sell athletic shoes." D. "We sell memorable experiences." E. "We rent hotel rooms."
D. "We sell memorable experiences."
Which of the following statements is true of the selling concept? A. It requires minimum promotion efforts. B. It creates long-term, profitable customer relationships. C. It takes an outside-in perspective. D. It is typically practiced with unsought goods. E. It follows the customer-centered sense-and-respond philosophy.
D. It is typically practiced with unsought goods.
Which of the following terms refers to sellers being preoccupied with their own products and losing sight of underlying consumer needs? A. vendor lock-in B. social loafing C. value proposition D. marketing myopia E. conspicuous consumption
D. marketing myopia
According to the five-step model of the marketing process, which of the following is the final step in creating value for customers? A. designing a customer-driven marketing strategy B. understanding the marketplace and customer needs C. constructing an integrated marketing program that delivers superior value D. building profitable relationships and creating customer delight E. capturing value from customers to create profit and customer equity.
E. capturing value from customers to create profit and customer equity.
Which of the following is NOT a step in the strategic planning process? A. defining the company mission B. setting company objectives and goals C. designing the business portfolio D. planning marketing and other functional strategies E. evaluating members of the company's value chain
E. evaluating members of the company's value chain
