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Question 1
Question
Which of the following variables is NOT directly affected by market segmentation?
Answer
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Product
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Price
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Process
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Place
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Promotion
Question 2
Question
All of the following are strategic marketing issues or decisions EXCEPT
Answer
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to be a price leader or a price follower
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to use operating leverage
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to offer a complete or limited warranty
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to use heavy, light, or no TV advertising versus online advertising
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to use exclusive dealerships or multiple channels of distribution
Question 3
Question
Which two variables rank as marketing's most important contributions to strategic management?
Answer
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Diversification and budgeting
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Marketing penetration and competition
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Competition and collaboration
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Product development and market development
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Market segmentation and product positioning
Question 4
Question
What makes market segmentation an important variable in strategy implementation?
Answer
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It allows a small firm to compete successfully with a large firm.
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It allows a firm to operate with limited resources.
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New or improved market-segmentation approaches are required for the successful execution of market development & market penetration.
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Market segmentation decisions directly affect marketing mix variables.
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All of the above.
Question 5
Question
Which variable would be considered part of the "product" element of the marketing mix?
Answer
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Advertising
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Packaging
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Payment terms
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Inventory levels and location
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Publicity
Question 6
Question
Which variable would be considered part of the "place" element of the marketing mix?
Answer
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Product line
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Service level
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Personal selling
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Sales territory
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Discounts and allowances
Question 7
Question
Which of these is NOT a rule for using product positioning as a strategy-implementation tool?
Answer
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Look for the hole or vacant niche, a segment of the market currently not being served.
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Do not serve two segments with the same strategy.
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Position yourself in the middle of the map, if you are one of only two competitors.
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Position yourself in the middle of the map, if there are more than two competitors.
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All of these are rules for using product positioning as a strategy-implementation tool.
Question 8
Question
Which of the following is NOT given as an example of a decision that may require finance/accounting policies?
Answer
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to extend the time of accounts receivable
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to establish a certain percentage discount on accounts within a specified period of time
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to lease or buy fixed assets
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to use LIFO, FIFO, or a market-value accounting approach
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to be a price leader or a price follower
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