MBA 706 Kim Exam 1
1. Commoditization the curse of mature markets whereby
products lack any real means of differ-
entiation and customers see competing
products as offering roughly the same
benefits.
2. Environmental scanning involves the analysis of economic, po-
litical, legal, technological, and cultural
events and trends that may affect the
future of the organization and its mar-
keting efforts.
3. Which of the following statements about pric- Price has a direct connection with cus-
ing decisions in the marketing program is tomer demand
TRUE? a. Customers will always equate higher
prices with higher quality products. b. Pricing
is the most difficult element of the marketing
mix to change. c. Price has a direct connection
with customer demand. d. Price is one of two
elements of the marketing mix that leads to
revenue
4. What type of planning deals with specific mar- tactical planning
kets or market segments and the develop-
ment of marketing programs that will fulfill
the needs of customers in those markets?
5. Among the fundamental changes to market- customers
ing and business practice in today's econo-
my is the dramatic increase in the availability
of information. This increase in information
has created a shift in the balance of power in
1/7
, MBA 706 Kim Exam 1
the supply chain. Who now holds most of the
power in today's economy?
6. A vision statement answers which of the fol- What do we want to become?
lowing statements? a. What business are we
in? b. Which is our market position? c. How
can we serve our target markets? d. What do
we want to become?
7. In the context of marketing planning, why is Because top managers must decide
it vital that the marketing plan be capable of whether the marketing plan is the best
selling itself to top management? a. Because use for the organization's scarce re-
top managers must be able to clearly commu- sources.
nicate the strategy to external stakeholders.
b. Because top managers are responsible for
executing the marketing plan. c. Because top
managers must decide whether the market-
ing plan is the best use for the organization's
scarce resources. d. Because top managers
must ensure that the marketing program is
successful.
8. Motorola continuously establishes perfor- evaluation and control
mance standards and assesses actual per-
formance by comparing it with these stan-
dards. Afterwards, Motorola often takes cor-
rective action to reduce any discrepancies.
This process is most likely outlined in the
__________ section of Motorola's marketing
plan.
9. What is needed to develop goals and objec- Mission statement
tives?
2/7
1. Commoditization the curse of mature markets whereby
products lack any real means of differ-
entiation and customers see competing
products as offering roughly the same
benefits.
2. Environmental scanning involves the analysis of economic, po-
litical, legal, technological, and cultural
events and trends that may affect the
future of the organization and its mar-
keting efforts.
3. Which of the following statements about pric- Price has a direct connection with cus-
ing decisions in the marketing program is tomer demand
TRUE? a. Customers will always equate higher
prices with higher quality products. b. Pricing
is the most difficult element of the marketing
mix to change. c. Price has a direct connection
with customer demand. d. Price is one of two
elements of the marketing mix that leads to
revenue
4. What type of planning deals with specific mar- tactical planning
kets or market segments and the develop-
ment of marketing programs that will fulfill
the needs of customers in those markets?
5. Among the fundamental changes to market- customers
ing and business practice in today's econo-
my is the dramatic increase in the availability
of information. This increase in information
has created a shift in the balance of power in
1/7
, MBA 706 Kim Exam 1
the supply chain. Who now holds most of the
power in today's economy?
6. A vision statement answers which of the fol- What do we want to become?
lowing statements? a. What business are we
in? b. Which is our market position? c. How
can we serve our target markets? d. What do
we want to become?
7. In the context of marketing planning, why is Because top managers must decide
it vital that the marketing plan be capable of whether the marketing plan is the best
selling itself to top management? a. Because use for the organization's scarce re-
top managers must be able to clearly commu- sources.
nicate the strategy to external stakeholders.
b. Because top managers are responsible for
executing the marketing plan. c. Because top
managers must decide whether the market-
ing plan is the best use for the organization's
scarce resources. d. Because top managers
must ensure that the marketing program is
successful.
8. Motorola continuously establishes perfor- evaluation and control
mance standards and assesses actual per-
formance by comparing it with these stan-
dards. Afterwards, Motorola often takes cor-
rective action to reduce any discrepancies.
This process is most likely outlined in the
__________ section of Motorola's marketing
plan.
9. What is needed to develop goals and objec- Mission statement
tives?
2/7
