MAR 3023 - Exam 1 - Study Guide Exam |61
Questions and Answers
Doritos is a brand that has high markets share but it's in a low growth market. For Pepsi,
which owns the brand, Doritos would be best classified as which of the following on the
BCG grid. - -Cash Cow
-One of the first parts of the strategic planning process involves taking a complete
assessment of the firm. The process includes describing (1) what the company does well,
(2) what it doesn't do well, (3) identifying things the firm can take advantage of and (4)
noting things it should be concerned about. The process described is known as: - -SWOT
analysis
-What is Marketing? - -
-Which of the following statements about the marketing mix is incorrect? - -Once a
marketing mix has been created for a particular target market, it cannot be changed.
-After Home Depot gathers information related to its marketing environment, it attempts
to define current environmental changes and predict future changes. This determine
possible opportunities and threats facing the company. It illustrates the process that is
called - -environmental analysis
-According to class discussions, place refers to which of the following: - -Distribution
-What type of competitive structure exists when a firm produces a product that has no
close substitutes. - -Monopoly
-American Express implements a program of calling its current cardholders to find out
what changes they would like to see in the services provided. The firm is exhibiting
characteristics associated with which of the following orientations? - -Market
-The American automobile industry used to be dominated by The Big Three, including
General Motors, Ford, and Chrysler. However, as many more competitors began influencing
this market, the American companies had to modify and differentiate their products. The
automobile industry moved from a(n) __________ structure to a(an) _________ structure. - -
oligopolistic; monopolistic competition
-marketing researchers at Essex Co. repeated a particular experiment several times and
discovered that the results produced each time were nearly identical. This phenomenon
would indicate that the results were - -reliable
-Consumers begin to become more price and value-conscious during periods of - -
recession
, -Dell Computer collects information about a wide variety of competitive, economic,
political, legal and regulatory, technological, and sociocultural forces that affects its
marketing activities. This process is called - -environmental scanning
-The Boston Consulting Group's matrix is based on the - -philosophy that a product's
market growth rate and its market share are important determinants of its marketing
strategy.
-For Mars Bars, Sprite represents which of the following types of competition (and please
note that Coca-Cola does not own Mars): - -Total Budget
-During which stage of the business cycle is unemployment low and total income relatively
high? - -Prosperity
-Palmetto Regional Hospital has designed an upcoming research project for determining
the best methods for improving patient care. The next step the organization must take in
the marketing research process is - -collecting data
-Secondary data cannot be obtained from - -surveys
-Students from the marketing research class collect data from three areas on campus.
When they analyze their data the responses are very similar. The students can state that
they achieved which of the following? - -reliability
-Of all the federal regulatory units, the ______ most heavily influences marketing activities. -
-Federal Trade Commission (FTC)
-Companies that market products with similar features, benefits, and prices to the same
customer group are known as ____ competitors. - -brand
-Kix cereal is aimed at mothers with children under the age of twelve. These mothers
represent Kix: - -Target market
-If Carrie wants to do some market research about the footwear industry that her company
is a part of, but she has limited money and time, she would most likely collect. - -Secondary
data
-A competitive advantage exists when a - -firm matches a core competency to
opportunities it has discovered in the marketplace
-Marketers often speak of the controllable variables in the practice of marketing. Which of
the following is not considered one of the controlled variables? - -Competition
-Mixed concrete cannot be shipped farther than twenty-five miles because the concrete
might harden in the truck. Citrus County Concrete Company is the only supplier of mixed
Questions and Answers
Doritos is a brand that has high markets share but it's in a low growth market. For Pepsi,
which owns the brand, Doritos would be best classified as which of the following on the
BCG grid. - -Cash Cow
-One of the first parts of the strategic planning process involves taking a complete
assessment of the firm. The process includes describing (1) what the company does well,
(2) what it doesn't do well, (3) identifying things the firm can take advantage of and (4)
noting things it should be concerned about. The process described is known as: - -SWOT
analysis
-What is Marketing? - -
-Which of the following statements about the marketing mix is incorrect? - -Once a
marketing mix has been created for a particular target market, it cannot be changed.
-After Home Depot gathers information related to its marketing environment, it attempts
to define current environmental changes and predict future changes. This determine
possible opportunities and threats facing the company. It illustrates the process that is
called - -environmental analysis
-According to class discussions, place refers to which of the following: - -Distribution
-What type of competitive structure exists when a firm produces a product that has no
close substitutes. - -Monopoly
-American Express implements a program of calling its current cardholders to find out
what changes they would like to see in the services provided. The firm is exhibiting
characteristics associated with which of the following orientations? - -Market
-The American automobile industry used to be dominated by The Big Three, including
General Motors, Ford, and Chrysler. However, as many more competitors began influencing
this market, the American companies had to modify and differentiate their products. The
automobile industry moved from a(n) __________ structure to a(an) _________ structure. - -
oligopolistic; monopolistic competition
-marketing researchers at Essex Co. repeated a particular experiment several times and
discovered that the results produced each time were nearly identical. This phenomenon
would indicate that the results were - -reliable
-Consumers begin to become more price and value-conscious during periods of - -
recession
, -Dell Computer collects information about a wide variety of competitive, economic,
political, legal and regulatory, technological, and sociocultural forces that affects its
marketing activities. This process is called - -environmental scanning
-The Boston Consulting Group's matrix is based on the - -philosophy that a product's
market growth rate and its market share are important determinants of its marketing
strategy.
-For Mars Bars, Sprite represents which of the following types of competition (and please
note that Coca-Cola does not own Mars): - -Total Budget
-During which stage of the business cycle is unemployment low and total income relatively
high? - -Prosperity
-Palmetto Regional Hospital has designed an upcoming research project for determining
the best methods for improving patient care. The next step the organization must take in
the marketing research process is - -collecting data
-Secondary data cannot be obtained from - -surveys
-Students from the marketing research class collect data from three areas on campus.
When they analyze their data the responses are very similar. The students can state that
they achieved which of the following? - -reliability
-Of all the federal regulatory units, the ______ most heavily influences marketing activities. -
-Federal Trade Commission (FTC)
-Companies that market products with similar features, benefits, and prices to the same
customer group are known as ____ competitors. - -brand
-Kix cereal is aimed at mothers with children under the age of twelve. These mothers
represent Kix: - -Target market
-If Carrie wants to do some market research about the footwear industry that her company
is a part of, but she has limited money and time, she would most likely collect. - -Secondary
data
-A competitive advantage exists when a - -firm matches a core competency to
opportunities it has discovered in the marketplace
-Marketers often speak of the controllable variables in the practice of marketing. Which of
the following is not considered one of the controlled variables? - -Competition
-Mixed concrete cannot be shipped farther than twenty-five miles because the concrete
might harden in the truck. Citrus County Concrete Company is the only supplier of mixed
