MBA 706 Kim Exam 1
Commoditization – answer the curse of mature markets whereby products lack any real
means of differentiation and customers see competing products as offering roughly the
same benefits.
Environmental scanning - answer involves the analysis of economic, political, legal,
technological, and cultural events and trends that may affect the future of the
organization and its marketing efforts.
Which of the following statements about pricing decisions in the marketing program is
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 - answerPrice has a direct connection with customer demand
What type of planning deals with specific markets or market segments and the
development of marketing programs that will fulfill the needs of customers in those
markets? - answertactical planning
Among the fundamental changes to marketing and business practice in today's
economy is the dramatic increase in the availability of information. This increase in
information has created a shift in the balance of power in the supply chain. Who now
holds most of the power in today's economy? - answercustomers
A vision statement answers which of the following 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? - answerWhat do we want to become?
In the context of marketing planning, why is it vital that the marketing plan be capable of
selling itself to top management? a. Because top managers must be able to clearly
communicate the strategy to external stakeholders. b. Because top managers are
responsible for executing the marketing plan. c. Because top managers must decide
whether the marketing plan is the best use for the organization's scarce resources. d.
Because top managers must ensure that the marketing program is successful. -
answerBecause top managers must decide whether the marketing plan is the best use
for the organization's scarce resources.
Motorola continuously establishes performance standards and assesses actual
performance by comparing it with these standards. Afterwards, Motorola often takes
corrective action to reduce any discrepancies. This process is most likely outlined in the
__________ section of Motorola's marketing plan. - answerevaluation and control
Commoditization – answer the curse of mature markets whereby products lack any real
means of differentiation and customers see competing products as offering roughly the
same benefits.
Environmental scanning - answer involves the analysis of economic, political, legal,
technological, and cultural events and trends that may affect the future of the
organization and its marketing efforts.
Which of the following statements about pricing decisions in the marketing program is
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 - answerPrice has a direct connection with customer demand
What type of planning deals with specific markets or market segments and the
development of marketing programs that will fulfill the needs of customers in those
markets? - answertactical planning
Among the fundamental changes to marketing and business practice in today's
economy is the dramatic increase in the availability of information. This increase in
information has created a shift in the balance of power in the supply chain. Who now
holds most of the power in today's economy? - answercustomers
A vision statement answers which of the following 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? - answerWhat do we want to become?
In the context of marketing planning, why is it vital that the marketing plan be capable of
selling itself to top management? a. Because top managers must be able to clearly
communicate the strategy to external stakeholders. b. Because top managers are
responsible for executing the marketing plan. c. Because top managers must decide
whether the marketing plan is the best use for the organization's scarce resources. d.
Because top managers must ensure that the marketing program is successful. -
answerBecause top managers must decide whether the marketing plan is the best use
for the organization's scarce resources.
Motorola continuously establishes performance standards and assesses actual
performance by comparing it with these standards. Afterwards, Motorola often takes
corrective action to reduce any discrepancies. This process is most likely outlined in the
__________ section of Motorola's marketing plan. - answerevaluation and control
