FREE MARKETING AND STUDY GAMES ABOUT MKT

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FREE MARKETING AND STUDY GAMES ABOUT MKT

6301-CHAPTER 1 EXAM QUESTIONS

Actual Qs and Ans Expert-Verified Explanation

This Exam contains:

-Guarantee passing score -100 Questions and Answers -format set of multiple-choice -Expert-Verified Explanation Question 1: 29) Which of the following is not a component of the traditional value chain?

Answer:

Answer: inbound marketing programs

Question 2: 30) What are the two dimensions of the four-quadrant model as presented by Gary Hamel and C.K. Prahalad?

Answer:

Answer: customer needs and customer types

Question 3: 13) Which of the following statements supports the sales driven approach to the marketplace?

Answer:

Answer: Market capitalization is the ultimate motive of a business.

Question 4: 28) Which of the following is the key difference between traditional value chain and the new versions of the value chain?

Answer:

Answer: The value chain starts with the customer in the new perspective.

Question 5: 46) Which of the following statements is true about marketing plans?

Answer:

Answer: Marketing plans are always forward looking.

Question 6: 45) Marketing plans are constructed at:

Answer:

Answer: SBU planning.

Question 7: 64) ________ refers to the present value of a stream of revenue that can be produced by a customer.

Answer:

Answer: Lifetime customer value

Question 8: 15) A company can maximize sales by offering the best product. This statement supports the ________ driven approach.

Answer:

Answer: technology

Question 9: 42) Which of the following is highest in the hierarchy of planning?

Answer:

Answer: corporate strategic planning

Question 10: 31) The danger associated with remaining customer-led is that:

Answer:

Answer: businesses may ignore unexploited opportunities.

Question 11: 32) Customers will not always be able to tell you what products they want and

need because:

Answer:

Answer: customers are aware of only the problems that they have.

Question 12: 36) Which of the following is an example of internal change?

Answer:

Answer: automation decision

Question 13: 82) For a company to dominate its industry in the future, it must lead the customer rather than being customer led.

Answer:

Answer: TRUE

Question 14: 16) Which of the following statements supports technology driven approach to the marketplace?

Answer:

Answer: Quality improvement in products can result in customer value.

Question 15: 23) Strategic and tactical decisions in a customer-oriented organization should be

made:

Answer:

Answer: cross-functionally and cross-divisionally.

Question 16: 34) Product-focused organizational structure is not suited for:

Answer:

Answer: business-to-business products.

Question 17: 5) Which of the following is a plausible marketing observation?

Answer:

Answer: Marketing managers must spend a considerable amount of time talking to customers.Question 18: 65) Lifetime customer value refers to:

Answer:

Answer: the present value of the total revenue that can be produced by a customer.Question 19: 1) Identify the statement that supports ubiquitous marketing department concept.

Answer:

Answer: Marketing is what the people in the marketing department do.

Question 20: 12) Which of the following is a disadvantage of sales driven approach?

Answer:

Answer: It might not deliver long term value to customers.

Question 21: 66) The value of a product or service can be quantified by calculating:

Answer:

Answer: the lifetime value of the customer base.

Question 22: 94) Name three reasons why marketing is a challenge within organizations.

Answer:

Answer: Unlike successful corporate financial, accounting, or production personnel, a marketing manager cannot be successful without spending a considerable amount of time talking to customers.Question 23: 80) Over-engineered products will contain features that customers do not need or want.

Answer:

Answer: FALSE

Question 24: 21) Which of the following is the disadvantage of marketing driven approach to the marketplace?

Answer:

Answer: This kind of organization is slow to respond to changes.

Question 25: 75) Customer focused marketing advocate serving all customers' needs at all costs.

Answer:

Answer: FALSE

Question 26: 63) Modern managers have to focus on:

Answer:

Answer: relationships with the customer.

Question 27: 51) Which of the following is not a major part of a typical marketing plan?

Answer:

Answer: Production scheduling

Question 28: 6) The marketing concept philosophy emphasizes the need to have a:

Answer:

Answer: customer focus.