A PEST Analysis of the macro-environment includes a review of

1) __________ consist(s) of deciding the scope and purpose of the business, the objectives and the resources necessary to achieve the objectives.

A. Corporate strategy

B. Business and marketing strategy

C. Market sensing

D. Customer relationship management

2) What defines the corporation and what provides guidelines for managing the corporation is __________?

A. Corporate strategy

B. Business and marketing strategy

C. Corporate vision

D. Customer relationship management

3) Not acknowledging or responding to the threats and requirements of ___________ is the real danger. Even in markets assumed to be stable, innovation can quickly alter market space.

A. Disruptive innovation

B. Commodization of product designs

C. Creation of new market space

D. Fast changing markets

4) A PEST Analysis of the macro-environment includes a review of

A. Political, Economic, Social, Technological, and Legal issues

B. Product, Economic, Social, Technological, and Legal issues

C. Positioning, Economic, Strategy, Technological, and Loyalty issues

D. Product, Economy, Segmentation, Targeting, and Loyalty issues

5) ___________ offers a company the opportunity to focus its business on the requirements of one or more groups of buyers.

A. Corporate strategy

B. Strategic marketing

C. Market segmentation

D. Corporate responsiveness

6) A ___________ is described by characteristics of people including why they buy and their preferences for brands of products.

A. Customer relationship management system

B. Strategic marketing objective

C. Market segment

D. Corporate capability

7) The differences in buyers according to how they use products, the needs and preferences that the products satisfy and their consumption patterns create __________.

A. Market segments

B. One-size-fits-all

C. Audience management

D. Product differentiation

8) __________ include attitudes, brand awareness and brand preference.

A. Use situation variables

B. Buyers needs and preferences

C. Demographic variables

D. Purchase behavior

9) Whole Foods Market, Inc. provides products that appeal to middle class buyers who have strong value preferences for natural foods and are willing to pay premium prices for the products that are not often available from other grocery retailers. This group of people is Whole Foods’ ______.

A. Communications group

B. Brand centers

C. Mass market

D. Market target

10) __________ is the process of identifying and analyzing sub-groups of buyers in a product-market with similar response characteristics.

A. Market segmentation

B. One-size-fits-all

C. Audience management

D. Product differentiation

11) BMW’s __________ for the new Mini, as a life-style vehicle, included describing the care as quintessentially cool with its biggest selling point being its individualistic appeal.

A. Value requirements

B. Positioning strategy

C. Segmentation design

D. Market targeting

12) A __________ seeks to have the brand own a place in the eyes and mind of the buyer and the product be distinguished from the products of the competition.

A. Customer relationship strategy

B. Strategic market

C. Market target

D. Positioning strategy

13) __________ provide(s) simpler and less costly ways to match the value requirements offered by the products of incumbent firms serving the market.

A. Disruptive innovation

B. Commodization of product designs

C. Creation of new market space

D. Fast changing markets

14) __________ occurs when a product offering is perceived by the buyer as different from the competition on any physical or nonphysical product characteristic, including price.

A. High-involvement

B. Low-involvement

C. Routine

D. Product differentiation

15) Which of these initiatives would not be part of customer relationship management?

A. Automated customer contact systems

B. Recall market research

C. Sales force productivity

D. Customer service and automated call centers

16) The __________ process provides an estimate of the profitability of a customer during the time span of the relationship.

A. Net present value

B. Customer lifetime value

C. Customer net sales

D. Customer recent profitability

17) Commercial air travel provides an interesting example also of the creation of new corporate __________ through strategic alliances, where the alliance becomes the identity such as the one world alliance, separate from the names of the two alliance partners, British Airways and American Airlines.

A. Resource

B. Brands

C. Strategy

D. Organization

18) A __________ name, term, design, symbol or any other feature that identifies one seller’s good or service as distinct from those of other sellers.

A. Product

B. Brand

C. Trademark

D. Identity

19) Companies will use a __________ to contact and deliver product to the market target buyers.

A. Product strategy B. New idea strategy C. Value-chain strategy D. Relationship strategy

20) The ___________ is the configuration of distribution channels linking with end-users.

A. Value chain B. Distribution strategy C. Retail strategy D. Digital channels

21) The role of pricing often depends on how other components such as, advertising, sales promotion and distribution in the __________ are used.

A. Signal to the buyer B. Competitive strategy C. Financial performance D. Marketing program

22) Low prices may be used to gain sales and __________.

A. Gain market share B. Achieve financial performance C. Create product positioning D. Stimulate demand

23) ___________ consists of planning, implementing and controlling an organization’s communications to its customers and other target audiences.

A. Promotion B. Personal selling C. Sales promotion D. Advertising

24) __________ consists of any form of non-personal communication concerning an organization, product or idea that is paid for by a specific sponsor. The sponsor makes payment for the communication via one or more forms of media (e.g., television, radio, magazine, newspaper, online).

A. Promotion B. Personal selling C. Sales promotion D. Advertising

25) __________ measure(s) consumers’ awareness of specific ads and campaigns by asking questions to determine if a sample of people remembers an ad.

A. Analyzing historical data B. Recall tests C. Longitudinal studies D. Test marketing

26) __________ track(s) advertising expenditures and sales results before, during and after an advertising campaign.

A. Analyzing historical data B. Recall tests C. Longitudinal studies D. Test marketing

27) The flat, flexible __________ offer several advantages in implementation, since they encourage inter-functional cooperation and communication. These types are responsive to changing conditions.

A. Organization designs B. Incentives C. Communications D. Plans

28) Reasons for conducting a(n) ___________ include: starting an evaluation program, corporate restructuring, entry into new product and market areas, acquisitions and the impact of Internet-based business models.

A. Balanced scorecard B. Communications plan C. Strategic marketing audit D. Internal marketing plan

29) Defining the __________ is(are) (a) critical factor(s) that can be difficult to discern since it is easy to confuse symptoms with causes.

A. Computer gap B. Performance gap C. Dashboard gap D. Problems and opportunities

30) The product, distribution, price and promotion strategy components are the marketing __________.

A. Relationship B. Idea C. Target D. Mix