MRKT TEST QUESTIONS AND CORRECT ANSWERS
100% VERIFIED
For successful Marketing (Big M), all internal organizational practices should be aligned
around _____. - ANSWER The customer
Microsoft's revolution of the information field and Disney's creation of the modern theme
park industry are the classic examples of _____. - ANSWER Market creation
After a recent 141-day strike, union members in California went back to work at area
grocery stores. The union negotiated raises, better health care benefits, and a one-tier
pay scale. The union may best be described as a(n) _____. - ANSWER Stakeholder
Companies like Starbucks that promote sustainability practices in their businesses - like
a strict recycling program - or General Electric that produces environmentally sensitive
products, are practicing _____. - ANSWER green marketing
Bryan does his daughter's piano teacher's web development in exchange for reduced
fees for his daughter. Bryan is practicing the central tenet of marketing called _____. -
ANSWER exchange
Today's customers have unlimited access to facts about companies, products,
competitors, other customers and even minute details of marketing plans and
strategies. Considering the change drivers that are moulding up the future of marketing,
this indicates _______. - ANSWER Shift in information power from marketer to customer
Today, companies have no choice but to be more open about their businesses and
products because they can't stop chat rooms or bloggers or customer reviews. In the
context of change drivers impacting the future of marketing, this reflects the _____. -
ANSWER shift in information power from marketer to customer
,The Girl Scouts introduced a cookie finder app in 2013. Considering change drivers that
will affect the future of marketing, this exemplifies the _____. - ANSWER shift in
generational values and preferences
Bazooka brand of candy updated its package inserts from comic strips to quizzes and
brainteasers that point kids to digital content. In the context of change drivers impacting
the future of marketing, this reflects the _____. - ANSWER shift in generational values
and preferences
Appropriate and effective marketing metrics must be designed to identify, track,
evaluate, and provide key benchmarks for improvement. In the context of change
drivers affecting the future of marketing, this reflects the _____. - ANSWER shift to
justifying the relevance and payback of the marketing investment
Fernandez Brothers Inc., provides accounting services to small businesses. Before and
after tax season, the partners meet with each client company. It sends a monthly
newsletter to update clients with tax changes. The firm's business practices mainly
focus on keeping profitable current customers rather than gaining new customers.
Fernandez Brothers has adopted a _____ approach. - ANSWER relationship orientation
The Clean-O company manufactures a cleanser for the hospital and nursing home
market that is guaranteed to kill 99 percent of Staphylococcus germs, a major concern
for medical facilities. Unlike other companies, Clean-O is not interested in pursuing the
consumer market. In this case, Clean-O has adopted a _____. - ANSWER differentiation
orientation
Mammoth Foods, a large agrifood conglomerate, has just acquired MJS Organic Foods
Co. MJS, which was founded six years ago, supplies restaurants throughout the
northeastern United States. As more organic products are shipped to retail markets,
future growth in the organic herbs, vegetables, and fruit category is projected at a
double-digit rate over the next decade. Using the Boston Consulting Group (BCG)
Growth-Share Matrix, MJS would most likely be categorized as a _____. - ANSWER star
Recently the demand for building materials has fallen because of the slowdown in new
housing construction. Wood-O Corp is considering closing its fine wood division that
produces mahogany and cherry lumber for building cabinets and other applications.
According to the Boston Consulting Group Growth-Share Matrix, the fine wood division
,would most likely be classified as a _____. - ANSWER dog
Mega-Big Corp. has a small SBU that produces a component essential to the
manufacturers of automobiles and has been extremely profitable for 18 years. The SBU
acts as a key source of income for the firm. In the context of the BCG matrix, Mega-Big
Corp. is most likely considered a _____. - ANSWER cash cow
Mega-Big Corp. wants to purchase Soft works, a medical software company. Medical
practices love Soft works for its ease of use. The company was founded by two software
engineers who have made some risky financial and poor management choices. Mega
Corp. thinks that with good management the software company will become one of the
leaders in its industry. In terms of the BCG matrix, Soft works is most likely a _____. -
ANSWER problem child
Zenith Homebuilders used to purchase many building lots and erect spec homes (i.e., it
gambled that the demand for new houses would be so high that they would sell easily).
Since the real estate slowdown, it builds homes only when owners are under contract.
In this case the company is most likely pursuing a generic business strategy of _____. -
ANSWER Retrentchment
Victor Inc. produces headphones used with cell phones and MP3 players utilizing
contract manufacturing overseas. Management is concerned that tariffs may be
increased. Under which component of situation analysis would an examination of this
issue be found? ANSWER political, legal, ethical
Roberta's company, New Home Builders Corp., specializes in designing one-storey
homes that have wide hallways and walk-in showers that could accommodate the need
to use a wheelchair or walker, and other amenities that allow couples to remain in their
homes as they age. The company's strong value proposition has allowed it to maintain
steady market share in a weak housing market. In the context of SWOT analysis, a
discussion of this relative advantage would be included under _____. - ANSWER
stregnths
Open Sesame is a chain of Thai restaurants located in the western United States. The
marketing manager has found that there is a rising demand for Spanish food. In the
context of SWOT analysis, this information would fall under _____. - ANSWER threats
, The marketing manager at Little Red Architects, a firm that specializes in the design of
school buildings, finds out that there is a glitch in the software that the firm uses and
that some of its most recent projects will come in over budget. A discussion of this in the
context of SWOT analysis would fall under _____. - ANSWER weakness
Time Express is a well-established North American delivery service that wishes to
expand service into Central and South America. According toIgor Ansoff's
Product-Market Matrix, this is classified as the _____ strategy. - ANSWER market
development
Biz Solutions has 12 call centres around the world handling customer service issues for
a range of companies. The company is considering buying a software company that
serves the oil and gas industry. According to Igor Ansoff's Product-Market Matrix, this is
an example of the _____ strategy. - ANSWER Market diversification
Bliss Massage Therapy Center keeps a database of more than 700 clients and sends
each a special discount offer in the month of his or her birthday. Managers hope that as
existing customers use the discount, they will see an overall growth in sales. According
to Igor Ansoff's Product-Market Matrix, this is an example of the _____ strategy. -
ANSWER Market penetration
Inga, marketing manager at Sunshine, a professional preschool center, believes the firm
should initiate an after-school program to retain its current customers. This makes
sense as she wants to extend the trusting relationship already developed with parents
and children. Based on Igor Ansoff's Product-Market Matrix, this is an example of the
_____ strategy. - ANSWER Product development
Jamal's boss wants him to travel to Canada to do some research on good locations for
their retail stores, which they are planning to open in Montreal and Ottawa." The firm
operates 278 stores in the United States. According to Igor Ansoff's Product-Market
Matrix, the extension into a new geographic region is an example of the _____ strategy. -
ANSWER market development
Mary's company has postponed making a decision on acquiring a new product line
because her marketing team members took more than three months to analyze
100% VERIFIED
For successful Marketing (Big M), all internal organizational practices should be aligned
around _____. - ANSWER The customer
Microsoft's revolution of the information field and Disney's creation of the modern theme
park industry are the classic examples of _____. - ANSWER Market creation
After a recent 141-day strike, union members in California went back to work at area
grocery stores. The union negotiated raises, better health care benefits, and a one-tier
pay scale. The union may best be described as a(n) _____. - ANSWER Stakeholder
Companies like Starbucks that promote sustainability practices in their businesses - like
a strict recycling program - or General Electric that produces environmentally sensitive
products, are practicing _____. - ANSWER green marketing
Bryan does his daughter's piano teacher's web development in exchange for reduced
fees for his daughter. Bryan is practicing the central tenet of marketing called _____. -
ANSWER exchange
Today's customers have unlimited access to facts about companies, products,
competitors, other customers and even minute details of marketing plans and
strategies. Considering the change drivers that are moulding up the future of marketing,
this indicates _______. - ANSWER Shift in information power from marketer to customer
Today, companies have no choice but to be more open about their businesses and
products because they can't stop chat rooms or bloggers or customer reviews. In the
context of change drivers impacting the future of marketing, this reflects the _____. -
ANSWER shift in information power from marketer to customer
,The Girl Scouts introduced a cookie finder app in 2013. Considering change drivers that
will affect the future of marketing, this exemplifies the _____. - ANSWER shift in
generational values and preferences
Bazooka brand of candy updated its package inserts from comic strips to quizzes and
brainteasers that point kids to digital content. In the context of change drivers impacting
the future of marketing, this reflects the _____. - ANSWER shift in generational values
and preferences
Appropriate and effective marketing metrics must be designed to identify, track,
evaluate, and provide key benchmarks for improvement. In the context of change
drivers affecting the future of marketing, this reflects the _____. - ANSWER shift to
justifying the relevance and payback of the marketing investment
Fernandez Brothers Inc., provides accounting services to small businesses. Before and
after tax season, the partners meet with each client company. It sends a monthly
newsletter to update clients with tax changes. The firm's business practices mainly
focus on keeping profitable current customers rather than gaining new customers.
Fernandez Brothers has adopted a _____ approach. - ANSWER relationship orientation
The Clean-O company manufactures a cleanser for the hospital and nursing home
market that is guaranteed to kill 99 percent of Staphylococcus germs, a major concern
for medical facilities. Unlike other companies, Clean-O is not interested in pursuing the
consumer market. In this case, Clean-O has adopted a _____. - ANSWER differentiation
orientation
Mammoth Foods, a large agrifood conglomerate, has just acquired MJS Organic Foods
Co. MJS, which was founded six years ago, supplies restaurants throughout the
northeastern United States. As more organic products are shipped to retail markets,
future growth in the organic herbs, vegetables, and fruit category is projected at a
double-digit rate over the next decade. Using the Boston Consulting Group (BCG)
Growth-Share Matrix, MJS would most likely be categorized as a _____. - ANSWER star
Recently the demand for building materials has fallen because of the slowdown in new
housing construction. Wood-O Corp is considering closing its fine wood division that
produces mahogany and cherry lumber for building cabinets and other applications.
According to the Boston Consulting Group Growth-Share Matrix, the fine wood division
,would most likely be classified as a _____. - ANSWER dog
Mega-Big Corp. has a small SBU that produces a component essential to the
manufacturers of automobiles and has been extremely profitable for 18 years. The SBU
acts as a key source of income for the firm. In the context of the BCG matrix, Mega-Big
Corp. is most likely considered a _____. - ANSWER cash cow
Mega-Big Corp. wants to purchase Soft works, a medical software company. Medical
practices love Soft works for its ease of use. The company was founded by two software
engineers who have made some risky financial and poor management choices. Mega
Corp. thinks that with good management the software company will become one of the
leaders in its industry. In terms of the BCG matrix, Soft works is most likely a _____. -
ANSWER problem child
Zenith Homebuilders used to purchase many building lots and erect spec homes (i.e., it
gambled that the demand for new houses would be so high that they would sell easily).
Since the real estate slowdown, it builds homes only when owners are under contract.
In this case the company is most likely pursuing a generic business strategy of _____. -
ANSWER Retrentchment
Victor Inc. produces headphones used with cell phones and MP3 players utilizing
contract manufacturing overseas. Management is concerned that tariffs may be
increased. Under which component of situation analysis would an examination of this
issue be found? ANSWER political, legal, ethical
Roberta's company, New Home Builders Corp., specializes in designing one-storey
homes that have wide hallways and walk-in showers that could accommodate the need
to use a wheelchair or walker, and other amenities that allow couples to remain in their
homes as they age. The company's strong value proposition has allowed it to maintain
steady market share in a weak housing market. In the context of SWOT analysis, a
discussion of this relative advantage would be included under _____. - ANSWER
stregnths
Open Sesame is a chain of Thai restaurants located in the western United States. The
marketing manager has found that there is a rising demand for Spanish food. In the
context of SWOT analysis, this information would fall under _____. - ANSWER threats
, The marketing manager at Little Red Architects, a firm that specializes in the design of
school buildings, finds out that there is a glitch in the software that the firm uses and
that some of its most recent projects will come in over budget. A discussion of this in the
context of SWOT analysis would fall under _____. - ANSWER weakness
Time Express is a well-established North American delivery service that wishes to
expand service into Central and South America. According toIgor Ansoff's
Product-Market Matrix, this is classified as the _____ strategy. - ANSWER market
development
Biz Solutions has 12 call centres around the world handling customer service issues for
a range of companies. The company is considering buying a software company that
serves the oil and gas industry. According to Igor Ansoff's Product-Market Matrix, this is
an example of the _____ strategy. - ANSWER Market diversification
Bliss Massage Therapy Center keeps a database of more than 700 clients and sends
each a special discount offer in the month of his or her birthday. Managers hope that as
existing customers use the discount, they will see an overall growth in sales. According
to Igor Ansoff's Product-Market Matrix, this is an example of the _____ strategy. -
ANSWER Market penetration
Inga, marketing manager at Sunshine, a professional preschool center, believes the firm
should initiate an after-school program to retain its current customers. This makes
sense as she wants to extend the trusting relationship already developed with parents
and children. Based on Igor Ansoff's Product-Market Matrix, this is an example of the
_____ strategy. - ANSWER Product development
Jamal's boss wants him to travel to Canada to do some research on good locations for
their retail stores, which they are planning to open in Montreal and Ottawa." The firm
operates 278 stores in the United States. According to Igor Ansoff's Product-Market
Matrix, the extension into a new geographic region is an example of the _____ strategy. -
ANSWER market development
Mary's company has postponed making a decision on acquiring a new product line
because her marketing team members took more than three months to analyze
