Marketing Management quiz +
answers
Quiz w1
Which of the following are included in the assessment of physical environmental forces?
1. Correct: The pollution of rivers, land and the air
2. Correct: The availability of energy (E.g. electricity), including that from renewable sources
3. Harm to brand reputation resulting from irresponsible actions by a business
4. Correct: Climate change and potential changes in global average temperatures
5. How much customers will pay for eco-friendly products
6. Correct: The scarcity of raw materials or resources (including natural, biodegradable or recycled materials)
Which of the following is a core outcome of monitoring the market environment?
1. Understanding of the brand and its positioning will be improved.
2. Monitoring leads to higher profits.
3. Correct: The organization will be better aware of the nature of the environment in which it trades.
4. An advantage over the company's closest competitors will be gained.
Which answer best describes the marketing concept?
1. Companies maximize sales by promoting their products and services.
2. Correct: Companies achieve their profits through the satisfaction of the consumer.
3. Companies sell their products to specific target markets.
4. Company profits relate directly to the sales of their products.
Which of the following concepts is not a direct component of the marketing mix?
1. Profit
2. Product
3. Promotion
4. Place
Once a product has been bought, customer satisfaction depends upon its perceived performance compared to a buyer's
1. Correct: expectations
2. effectiveness
3. income
4. efficiency
Which of the following characterizes an organization with a market focus?
1. Seeks stability and maintenance of the status quo.
2. Assumes price and product performance is key to generating sales.
3. They segment by product(s).
4. Correct: Their knowledge of customer choice criteria enables matching with marketing mix.
, What does microenvironmental analysis specifically consist of (check all that apply)?
1. Value analysis
2. Correct: Customer analysis
3. Correct: Market analysis
4. Correct: Distribution analysis
5. Correct: Supplier analysis
6. Correct: Competitor analysis
7. Shareholder analysis
The management of a production-orientated company focuses on
1. defining the business in marketing terms
2. better customer satisfaction
3. Correct: becoming cost-focused
4. having a wide range of products
The process of monitoring and analysing the marketing conditions of a company is called
1. Correct: environmental scanning
2. marketing myopia
3. marketing retrenchment
4. background conditioning
Which of the following best describes the creation of customer value?
1. A convincing salesperson can persuade a customer that anything is valuable.
2. If a new product or service is clever customers will value it.
3. If a product or service is cheap enough customers will value it.
4. Correct: Customers must perceive value in the benefits offered by a product or a service.
Quiz w2
Which of the following is a means of sustaining a differential advantage?
1. Correct: Patent-protected products
2. Creating low entry barriers
3. Capacity utilization
4. Competing on low price
Barriers to entry can be created by
1. Low production costs
2. Correct: access to distribution
3. Correct: cost advantages
4. Correct: high switching costs
A company's choice of the marketing mix tools to use and the choices they make, are informed by the ...
1. implementation process
2. organizational process
3. Correct: core strategy
answers
Quiz w1
Which of the following are included in the assessment of physical environmental forces?
1. Correct: The pollution of rivers, land and the air
2. Correct: The availability of energy (E.g. electricity), including that from renewable sources
3. Harm to brand reputation resulting from irresponsible actions by a business
4. Correct: Climate change and potential changes in global average temperatures
5. How much customers will pay for eco-friendly products
6. Correct: The scarcity of raw materials or resources (including natural, biodegradable or recycled materials)
Which of the following is a core outcome of monitoring the market environment?
1. Understanding of the brand and its positioning will be improved.
2. Monitoring leads to higher profits.
3. Correct: The organization will be better aware of the nature of the environment in which it trades.
4. An advantage over the company's closest competitors will be gained.
Which answer best describes the marketing concept?
1. Companies maximize sales by promoting their products and services.
2. Correct: Companies achieve their profits through the satisfaction of the consumer.
3. Companies sell their products to specific target markets.
4. Company profits relate directly to the sales of their products.
Which of the following concepts is not a direct component of the marketing mix?
1. Profit
2. Product
3. Promotion
4. Place
Once a product has been bought, customer satisfaction depends upon its perceived performance compared to a buyer's
1. Correct: expectations
2. effectiveness
3. income
4. efficiency
Which of the following characterizes an organization with a market focus?
1. Seeks stability and maintenance of the status quo.
2. Assumes price and product performance is key to generating sales.
3. They segment by product(s).
4. Correct: Their knowledge of customer choice criteria enables matching with marketing mix.
, What does microenvironmental analysis specifically consist of (check all that apply)?
1. Value analysis
2. Correct: Customer analysis
3. Correct: Market analysis
4. Correct: Distribution analysis
5. Correct: Supplier analysis
6. Correct: Competitor analysis
7. Shareholder analysis
The management of a production-orientated company focuses on
1. defining the business in marketing terms
2. better customer satisfaction
3. Correct: becoming cost-focused
4. having a wide range of products
The process of monitoring and analysing the marketing conditions of a company is called
1. Correct: environmental scanning
2. marketing myopia
3. marketing retrenchment
4. background conditioning
Which of the following best describes the creation of customer value?
1. A convincing salesperson can persuade a customer that anything is valuable.
2. If a new product or service is clever customers will value it.
3. If a product or service is cheap enough customers will value it.
4. Correct: Customers must perceive value in the benefits offered by a product or a service.
Quiz w2
Which of the following is a means of sustaining a differential advantage?
1. Correct: Patent-protected products
2. Creating low entry barriers
3. Capacity utilization
4. Competing on low price
Barriers to entry can be created by
1. Low production costs
2. Correct: access to distribution
3. Correct: cost advantages
4. Correct: high switching costs
A company's choice of the marketing mix tools to use and the choices they make, are informed by the ...
1. implementation process
2. organizational process
3. Correct: core strategy
