TEST BANK FOR ESSENTIALS OF MARKETING A MARKETING STRATEGY PLANNING APPROACH

1. Planning, implementation, and control are basic jobs of all managers. True False 2. The three basic jobs in the marketing management process are planning, implementation, and control. True False 3. The marketing management process consists of (1) planning marketing activities, (2) directing the implementation of the plans, and (3) controlling these plans. True False 4. Strategic planning is a top management job that includes planning only for marketing. True False 5. Strategic planning is the managerial process of developing and maintaining a match between an organization's resources and its market opportunities. True False 6. Strategic (management) planning is a managerial process of developing and maintaining a match between the resources of the production department and its product opportunities. True False 7. Finding attractive opportunities and developing profitable marketing strategies are the tasks included in the marketing manager's marketing strategy planning job. True False 8. Marketing strategy planning is the process of deciding how best to sell the products the firm produces. True False 9. A marketing strategy specifies a target market and a related marketing mix. True False 10. A marketing strategy is composed of two interrelated parts--a target market and a marketing mix. True False 11. A marketing strategy is composed of two interrelated parts--planning and implementation. True False 12. The two parts of a marketing strategy are an attractive opportunity and a target market. True False 13. A target market consists of a group of consumers who are usually quite different. True False 14. A marketing mix consists of the uncontrollable variables which a company puts together to satisfy a target market. True False 15. Target marketing aims a marketing mix at some specific target customers. True False 16. Mass marketing means focusing on some specific customers, as opposed to assuming that everyone is the same and will want whatever the firm offers. True False 17. The mass marketing approach is more production-oriented than marketing-oriented. True False 18. The terms mass marketing and mass marketers mean the same thing. True False 19. "Mass marketers" like Target usually try to aim at clearly defined target markets. True False 20. The problem with target marketing is that it limits the firm to small market segments. True False 21. Potential customers are all alike. True False 22. The four "Ps" are: Product, Promotion, Price, and Personnel. True False 23. The "four Ps" of the marketing mix are Product, Position, Promotion, and Price. True False 24. The "four Ps" of the marketing mix are People, Products, Price, and Promotion. True False 25. Product, Place, Promotion and Price are the four major variables (decision areas) in a firm's marketing mix. True False 26. The customer is a part of the marketing mix and should be the target of all marketing efforts. True False 27. Although the customer should be the target of all marketing efforts, customers are not part of a marketing mix. True False 28. The customer should not be considered part of a "marketing mix." True False 29. The Product area is concerned with developing the right physical good, service, or blend of both for the target market. True False 30. According to the text, a firm that sells a service rather than a physical good does not have a product. True False 31. The Product area of the marketing mix may involve a service and/or a physical good which satisfies some customers' needs. True False 32. The Place decisions are concerned with getting the right product to the target market at the right time. True False 33. Any series of firms (or individuals) from producer to final user or consumer is a channel of distribution. True False 34. A channel of distribution is any series of firms or individuals that participate in the flow of products from producer to final user or consumer. True False 35. A channel of distribution must include an intermediary. True False 36. A channel of distribution must include several kinds of intermediaries and collaborators. True False 37. Personal selling, mass selling, and sales promotion are all included in the Promotion area of the marketing mix. True False 38. Promotion is composed of personal selling, advertising, publicity, and sales promotion. True False 39. Personal selling involves direct personal communication to get the sale, but personal attention is seldom required after the sale. True False 40. Customer service is needed when a customer wants the seller to resolve a problem with a purchase. True False 41. Advertising is any paid form of nonpersonal presentation of ideas, goods, or services by an identified sponsor. True False 42. Sales promotion can involve point-of-purchase materials, store signs, contests, catalogs, and circulars. True False 43. Sales promotion refers to those promotion activities--other than advertising, publicity, and personal selling--that stimulate interest, trial, or purchase by final customers or others in the channel. True False 44. Personal selling and advertising are both forms of sales promotion. True False 45. According to the text, Promotion is the most important of the "four Ps." True False 46. Price is the most important of the four Ps. True False 47. In general, no single element of the "four Ps" is more important than the others. True False 48. The marketing mix should be set before the best target market is selected. True False 49. As in the Toddler University case, the needs of a target market virtually determine the nature of an appropriate marketing mix. True False 50. A marketing plan and a marketing strategy mean the same thing. True False 51. A marketing strategy and all the time-related details for carrying out the strategy is a "marketing plan." True False 52. A marketing plan is a written statement of a marketing strategy and the time-related details for carrying out the strategy. True False 53. Implementation means putting the marketing plan into operation. True False 54. Short-run decisions that stay within the overall guidelines set during strategy planning are called implementation decisions. True False 55. Marketing strategy planning should specify all of the operational decisions to implement the plan. True False 56. Companies such as Campbell's can only implement one marketing strategy at a time. True False 57. Most companies implement only one marketing strategy at a time. True False 58. A marketing program blends all of the firm's marketing plans into one "big" plan and is the responsibility of the whole company. True False 59. A "marketing program" blends all of a firm's marketing plans into one "big" plan. True False 60. A marketing program may consist of several marketing plans. True False 61. A successful marketing program benefits the firm by increasing customer equity. True False 62. A marketing program should lower customer equity. True False 63. One way to increase customer equity is to find cost-effective ways to serve current customers so they buy more. True False 64. One way to increase customer equity is to find cost-effective ways to add new customers for the firm's products. True False 65. The best way to increase customer equity is to find cost-effective ways to increase earnings from current customers while bringing profitable new customers into the fold. True False 66. An extremely good plan might be carried out badly and still be profitable, while a poor but well implemented plan can lose money. True False 67. The U.S. auto industry has become much more marketing-oriented since Henry Ford introduced the Model T. True False 68. Many U.S. auto makers have failed because they were not marketing oriented. True False 69. Managers who embrace the marketing concept realize that they cannot just define their line of business in terms of the products they currently produce or sell. True False 70. The single most important factor in screening possible marketing opportunities is the long-run trends facing the company. True False 71. Attractive opportunities for a particular firm are those that the firm has some chance of doing something about--given its resources and objectives. True False 72. Attractive opportunities are those that the firm has some chance of doing something about given its resources and objectives. True False 73. A "breakthrough opportunity" is an opportunity that helps innovators develop long- term, hard-to-copy marketing strategies that will be very profitable. True False 74. "Breakthrough opportunities" are ones that help innovators develop hard-to-copy marketing strategies that will be profitable for a long time. True False 75. A firm with a "competitive advantage" has a marketing mix that the target market sees as better than a competitor's mix. True False 76. Finding "competitive advantages" is important because they are needed for survival in increasingly competitive markets. True False 77. It is useful to think of the marketing strategy planning process as a narrowing-down process. True False 78. The marketing strategy planning process starts with a narrow look at a market, and becomes broader the closer the firm comes to developing a marketing mix. True False 79. There are usually more different strategy possibilities than a firm can pursue. True False 80. Developing a set of specific qualitative and quantitative screening criteria can help a manager define what business and markets the firm wants to compete in. True False 81. A S.W.O.T. analysis is one way to zero in on a marketing strategy that is well-suited to the firm. True False 82. A S.W.O.T. analysis identifies the "special weapons or tactics" used by the competitor in a product-market that has the most profitable marketing mix. True False 83. S.W.O.T. analysis is based on the idea that one of the best ways to develop a strategy is to identify and copy the marketing "strategies, weapons, outlook, and tactics" of the firm's most effective competitor. True False 84. A good S.W.O.T. analysis helps a manager focus on a strategy that takes advantages of the firm's opportunities and strengths while avoiding its weaknesses and threats to its success. True False 85. The letters in "S.W.O.T. analysis" are an abbreviation for the first letters of the words "strengths, weaknesses, opportunities and threats." True False 86. The letters in "S.W.O.T. analysis" are an abbreviation for the first letters of the words "special weapons or tactics." True False 87. Segmentation is the process a manager goes through to decide which subgroups of customers to select. True False 88. Differentiation means that the marketing mix is distinct from and better than what is available from a competitor. True False 89. Differentiation means that the firm's marketing mix is similar to its competitors' mixes. True False 90. Differentiation often requires a firm to fine-tune its marketing mix to meet the specific needs of its target market(s). True False 91. Differentiation emphasizes uniqueness rather than similarity. True False 92. Differentiation emphasizes similarity rather than uniqueness. True False 93. Marketing opportunities involving present products and present markets are called "market penetration" opportunities. True False 94. Market penetration means trying to increase sales of a firm's present products in its present markets--probably through a more aggressive marketing mix. True False 95. A firm which tries to increase sales by selling new products in new markets is pursuing "market development" opportunities. True False 96. A "market development" opportunity would involve a firm offering new or improved products to its present markets. True False 97. When a firm tries to increase sales by offering new or improved products to its present markets, this is called "product development." True False 98. Nike moved beyond shoes and sportswear to offer its athletic target market a running watch, digital audio player, and even a portable heart-rate monitor. This is an example of a market development strategy. True False 99. The ArrowPoint Company has just modified and enlarged its product line to meet the changing needs of its current customers. This is an example of "market development." True False 100When Cadillac added a new sports utility vehicle called Escalade to the "luxury- . oriented" selection at its existing dealers, it was seeking "market development" opportunities. True False 101If Burger King added tacos to the "burger-oriented" menu in its existing