Which of the following is a component of a SWOT analysis?
Answer: Threats
Which of the following is a component of a SWOT analysis?
Answer: Threats
Answer: Threats
SWOT analysis is a rigorous method for selecting strategies. (T/F)
SWOT analysis is a rigorous method for selecting strategies. (T/F)
Answer: False
Which of the following takes the narrowest focus by centering on an individual firm?
Which of the following takes the narrowest focus by centering on an individual firm?
Answer: SWOT analysis
SWOT analysis is a tool:
SWOT analysis is a tool:
Answer: that consider a firm's strengths and weaknesses along with the opportunities and threats that exist in the firm's environment
Which of the following considers a firm's strengths and weaknesses along with the opportunities and threats that exist in the firm's environment?
Which of the following considers a firm's strengths and weaknesses along with the opportunities and threats that exist in the firm's environment?
Answer: SWOT analysis
The process of a company entering into the business of one its suppliers is known as _________
The process of a company entering into the business of one its suppliers is known as _________
Answer: backward integration
Which of the following theories for explaining a firm's competitiveness can help executives decide whether to pursue a backward integration strategy or not?
Which of the following theories for explaining a firm's competitiveness can help executives decide whether to pursue a backward integration strategy or not?
Answer: Transaction cost economy
Innovations in the fast-food hamburger business such as dollar menus and drive-thru windows tend to be introduced by one firm a then duplicated by the others. This is an example of
Innovations in the fast-food hamburger business such as dollar menus and drive-thru windows tend to be introduced by one firm a then duplicated by the others. This is an example of
Answer: Institutional Theory
Institutional transaction theory centres on the extent to which firms copy each other's strategies. (T/F)
Institutional transaction theory centres on the extent to which firms copy each other's strategies. (T/F)
Answer: True
Which of the following theories for explaining a firm's competitiveness contends that an organization can, at least in part, create an environment for itself that is beneficial to the organization?
Which of the following theories for explaining a firm's competitiveness contends that an organization can, at least in part, create an environment for itself that is beneficial to the organization?
Answer: Enactment
Creating best value supply chains requires four components: strategic supply chain management, agility, adaptability, and alignment. (T/F)
Creating best value supply chains requires four components: strategic supply chain management, agility, adaptability, and alignment. (T/F)
Answer: True
A supply chain differs from a value chain in that a supply chain:
A supply chain differs from a value chain in that a supply chain:
Answer: captures the entire process of creating and distributing a product, often across several firms
Which of the following is a secondary activity that value chains include?
Which of the following is a secondary activity that value chains include?
Answer: Procurement
Which of the following is a primary activity that value chains include?
Which of the following is a primary activity that value chains include?
Answer: Operations
Which of the following is NOT a measure of "best" value supply chain?
Which of the following is NOT a measure of "best" value supply chain?
Answer: Compatibility
Which of the following is one of the four components required for creating best value supply chain?
Which of the following is one of the four components required for creating best value supply chain?
Answer: Alignment
_________ property refers to creations of the mind, such as inventions, artistic products, and symbols.
_________ property refers to creations of the mind, such as inventions, artistic products, and symbols.
Answer: Intellectual
___________ refers to formulas, practices, and designs that are central to a firm's business and that remains unknown to competitors.
___________ refers to formulas, practices, and designs that are central to a firm's business and that remains unknown to competitors.
Answer: Trade Secrets
_________ are phrases, pictures, names, or symbols used to identify a particular organization.
_________ are phrases, pictures, names, or symbols used to identify a particular organization.
Answer: Trademarks
Trademarks are legal decrees that protect inventions from direct imitation for a limited period of time. (T/F)
Trademarks are legal decrees that protect inventions from direct imitation for a limited period of time. (T/F)
Answer: False
To earn a patent from the U.S. Patent and Trademark Office, an inventor must demonstrate that an invention is __________, non-obvious, and useful.
To earn a patent from the U.S. Patent and Trademark Office, an inventor must demonstrate that an invention is __________, non-obvious, and useful.
Answer: new
A ____________ is a set of activities that an organization performs especially well.
A ____________ is a set of activities that an organization performs especially well.
Answer: distinctive competence
A resource that does not have all four strategic qualities can still be very useful, but they __________.
A resource that does not have all four strategic qualities can still be very useful, but they __________.
Answer: are unlikely to provide long-term advantages
The four P's of marketing are product, price, place, and people. (T/F)
The four P's of marketing are product, price, place, and people. (T/F)
Answer: False.
What are the four P's of the marketing mix?
What are the four P's of the marketing mix?
Answer: Product, Price, Place, Promotion
Which of the following is most likely to meet the criteria for strategic resources?
Which of the following is most likely to meet the criteria for strategic resources?
Answer: A firm's organizational structure culture
For a strategic resource to be an asset, it must be _______.
For a strategic resource to be an asset, it must be _______.
Answer: valuable
According to the resource-based theory, __________ of an asset is one of the four qualities that makes it a strategic resource for a business.
According to the resource-based theory, __________ of an asset is one of the four qualities that makes it a strategic resource for a business.
Answer: nonsubstitutability
One way a business can help its salespeople demonstrate ethical behaviour in selling situations is by
One way a business can help its salespeople demonstrate ethical behaviour in selling situations is by
A. developing sales quotas.
B. establishing gift-giving guidelines.
C. making price deals.
D. requiring reciprocity.
Answer: B
Taking a client golfing is usually acceptable, as long as
Taking a client golfing is usually acceptable, as long as
A. the salesperson does not talk about business during the outing.
B. the business relationship does not include awarding a contract.
C. the golf excursion lasts no longer than three hours.
D. the salesperson spends no more than $100
Answer: B
Hotel supply salespeople who give expensive gifts to customers in an attempt to obtain their business are often considered guilty of
Hotel supply salespeople who give expensive gifts to customers in an attempt to obtain their business are often considered guilty of
A. violating local laws.
B. overstating expenses.
C. accepting bribes.
D. unethical behavior.
Answer: D
How can a reciprocal sales arrangement between a buyer and seller create an unethical situation?
How can a reciprocal sales arrangement between a buyer and seller create an unethical situation?
A. Ethical issues can occur when the reciprocity hurts or eliminates competition.
B. Reciprocal sales arrangements usually result when a breach of warranty occurs.
C. Ethical issues usually occur when the reciprocity is technological in nature.
D. Reciprocal sales arrangements almost always create price discrimination.
Answer: A
Which situation demonstrates ethical behaviour in selling?
Which situation demonstrates ethical behaviour in selling?
A. Tom tells Mrs. Smith she can save $100 by purchasing a vacuum cleaner without the carpet attachment because she has hardwood floors.
B. Mrs. Thompson tells John she cannot give him a raise, so he should claim additional expenses on his monthly expense account to make up for it.
C. Ron tells the customer she can save an additional $25 if she makes her check out to him instead of the company.
D. Mayhew's raises prices on its clothing prior to a 25%-off sale so customers can feel good about the amount of money they are saving.
Answer: A
Salespeople who moonlight or attend classes on company time are guilty of
Salespeople who moonlight or attend classes on company time are guilty of
A. wasting their time.
B. unethical behavior.
C. violating laws.
D. misusing assets.
Answer: B
Which of the following is a rating scale that allows marketing researchers to determine respondents' feelings:
Which of the following is a rating scale that allows marketing researchers to determine respondents' feelings:
A. Variable
B. Likert
C. Comparative
D. Attribute
Answer: B
When should researchers ask potentially sensitive questions during an interview?
When should researchers ask potentially sensitive questions during an interview?
A. Toward the end of the interview
B. At the beginning of the inventory to get them out of the way
C. Throughout the interview
D. At the mid-point of the interview to allow time for the researcher to build rapport
Answer: A
How can ill-designed questionnaires affect survey participants?
How can ill-designed questionnaires affect survey participants?
A. Can make them question the survey's purpose
B. Can decrease their response rate
C. Can decrease their desire to answer personal questions
D. Can make them take their time to complete the survey
Answer: B
The SBU Company developed a survey in which respondents are provided the same number of favorable and unfavorable rating options. What type of scale has this survey used?
The SBU Company developed a survey in which respondents are provided the same number of favorable and unfavorable rating options. What type of scale has this survey used?
A. Sequential
B. Continious
C. Spliced
D. Balanced
Answer: D
To obtain reliable, valid marketing-research data when conducting personal interviews, researchers must make sure that the interviewers are
To obtain reliable, valid marketing-research data when conducting personal interviews, researchers must make sure that the interviewers are
A. open, friendly, and nonjudgmental.
B. approachable, opinionated, and organized.
C. consistent, biased, and aggressive.
D. courteous, passive, and distant.
Answer: A
What type of scale is a firm using when a survey format has a seven-point rating system consisting of opposite adjectives on each end of the scale?
What type of scale is a firm using when a survey format has a seven-point rating system consisting of opposite adjectives on each end of the scale?
A. Semantic differential
B. Likert
C. Stapel
D. Random rating
Answer: A
What data-collection method can be used to obtain product information during the point-of-purchase process?
What data-collection method can be used to obtain product information during the point-of-purchase process?
A. Volume-tracking scanner
B. Photographic scanner
C. E-mail survey
D. Statistical survey
Answer: A
What is the most appropriate data-collection method to use when a business wants to determine how its employees interact with customers?
What is the most appropriate data-collection method to use when a business wants to determine how its employees interact with customers?
A. Experiment
B. Observation
C. Employee survey
D. Telephone interview
Answer: B
What is a common method of collecting research data that often involves the use of questionnaires?
What is a common method of collecting research data that often involves the use of questionnaires?
A. Case study
B. Mail survey
C. Message board
D. Behavior chart
Answer: B
What is an example of a marketing-research method that is used to collect primary data?
What is an example of a marketing-research method that is used to collect primary data?
A. Customer survey
B. Census data
C. Trade-journal article
D. External reports
Answer: A
Which of the following is a characteristic of unstructured observation:
Which of the following is a characteristic of unstructured observation:
A. Often records a variety of behaviors
B. Uses standard checklists to document behavior
C. Requires the use of surveillance equipment
D. Most often limits observer with specific guidelines
Answer: A
What is the advantage in using personal interviews to collect marketing data?
What is the advantage in using personal interviews to collect marketing data?
A. Biased interviewer
B. Slow collection rate
C. Limited interaction
D. High flexibility
Answer: D
How can businesses use computerized databases to sort and organize information about customers' purchases, brand preferences, and dollar amounts spent?
How can businesses use computerized databases to sort and organize information about customers' purchases, brand preferences, and dollar amounts spent?
A. To maintain sales strategies
B. To prepare financial reports
C. To develop inventory control plans
D. To customize its marketing efforts
Answer: D
Which of the following is a technology tool that allows a business to observe a customer's Internet activities:
Which of the following is a technology tool that allows a business to observe a customer's Internet activities:
A. Spam
B. Hyperlink
C. Cookie
D. Host
Answer: C
Why do many businesses place a cookie on a user's hard drive when the user visits the business's web site?
Why do many businesses place a cookie on a user's hard drive when the user visits the business's web site?
A. To regulate the user's access to information
B. To make it easy for the user to find the web site
C. To track the number of times the user buys a product
D. To guarantee that the web site is secure
Answer: C
How can using a database to track its customers' preferences and buying habits help a business?
How can using a database to track its customers' preferences and buying habits help a business?
A. Decreases the need to analyze marketing activities
B. Obtains additional deductions for its semi-annual tax return
C. Reduces unnecessary operational expenses
D. Builds strong, loyal customer relationships
Answer: D
So a business can retrieve current customer and internal marketing information from a central location, it may use which of the following technological tools:
So a business can retrieve current customer and internal marketing information from a central location, it may use which of the following technological tools:
A. Presentation software
B. A database
C. Opt-in e-mail
D. A CAD program
Answer: B
One advantage to marketing-information managers of using the Internet to do research and gather data is that the process is
One advantage to marketing-information managers of using the Internet to do research and gather data is that the process is
A. inexpensive.
B. restrictive.
C. regulated.
D. protected.
Answer: A
When a marketing-information management system compares financial information from one time period with the financial data from another time period, it provides a picture of the business's
When a marketing-information management system compares financial information from one time period with the financial data from another time period, it provides a picture of the business's
A. competition.
B. situation analysis.
C. sales forecasts.
D. profitability.
Answer: D
In planning marketing activities and in making marketing decisions, marketers use a variety of data gathered by a(n)
In planning marketing activities and in making marketing decisions, marketers use a variety of data gathered by a(n)
A. inventory control system.
B. double-entry bookkeeping system.
C. file of employee records.
D. marketing-information management system.
Answer: D
Which characteristic of useful marketing information is represented by the statement "The benefits of using the information should be greater than the expense of gathering the data used to generate this information"?
Which characteristic of useful marketing information is represented by the statement "The benefits of using the information should be greater than the expense of gathering the data used to generate this information"?
A. Timeliness
B. Accessibility
C. Relevancy
D. Cost-effectiveness
Answer: D
Your company has asked you to make recommendations for new hardware and software to replace the existing marketing-information system. What should you recommend?
Your company has asked you to make recommendations for new hardware and software to replace the existing marketing-information system. What should you recommend?
A. The largest system available for future expansion
B. Software that is secure and accessible only to you
C. Software that decision makers can use with minimum training
D. Software that everyone in the company can use to collect and process data
Answer: C
What is an internal source of marketing information for a business?
What is an internal source of marketing information for a business?
A. Government planning agencies
B. Inventory records
C. Public libraries
D. Trade journals
Answer: B
What is an example of marketing information that a business could gather by surveying its customers?
What is an example of marketing information that a business could gather by surveying its customers?
A. Planned product improvements
B. The company's current market share
C. Location of the company's market
D. Financial status of competitors
Answer: C
During one scene of a popular television show, an actor pours a box of brand-name cereal into a bowl and begins to eat it. What does this exemplify?
During one scene of a popular television show, an actor pours a box of brand-name cereal into a bowl and begins to eat it. What does this exemplify?
A. Brand awareness
B. Product placement
C. Brand identification
D. Product programming
Answer: B
Ben recently purchased a cellular telephone. The manufacturer provided a form and a special code with the telephone's packaging. Ben compleated the form, copied his sales receipt, and mailed these items back to the manufacturer along with the part of the packaging that contained the special code. Within six weeks, Ben received a $50 check from the telephone manufacturer. What type of sales-promotion technique was used?
Ben recently purchased a cellular telephone. The manufacturer provided a form and a special code with the telephone's packaging. Ben compleated the form, copied his sales receipt, and mailed these items back to the manufacturer along with the part of the packaging that contained the special code. Within six weeks, Ben received a $50 check from the telephone manufacturer. What type of sales-promotion technique was used?
A. Warranty
B. Coupon
C. Sweepstakes
D. Rebate
Answer: D
What communication channels is a corporation's public-relations department most likely to use to maintain positive relationships with shareholders?
What communication channels is a corporation's public-relations department most likely to use to maintain positive relationships with shareholders?
A. Press releases, online social networks, and print advertisements
B. Newsletters, annual reports, and the company's web site
C. News conferences, consumer blogs, and employee manuals.
D. Policy manuals, commercials, and sponsorships
Answer: B
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