Transcript What type of information do businesses include in their marketing

Marketing Management
Summative Assessment
Unit 1.00 Test Review
What type of information do
businesses include in their
marketing plans?
a.
b.
c.
d.
Billing Methods
Pricing Strategies
Payroll Systems
Accounting Procedures
• What type of information do businesses
include in their marketing plans?
a.
b.
c.
d.
Billing Methods
Pricing Strategies
Payroll Systems
Accounting Procedures
If a business lowers the price of a
product for the purpose of taking
business away from competitors, the
result of this action often is a(n)
•
•
•
•
A.
B.
C.
D.
Decrease in cost
Increase in profit
Gain in market share
Reduction in staff
If a business lowers the price of a
product for the purpose of taking
business away from competitors, the
result of this action often is a(n)
•
•
•
•
A.
B.
C.
D.
Decrease in cost
Increase in profit
Gain in market share
Reduction in staff
When conducting an external
environmental analysis, business often
focus on
•
•
•
•
A.
B.
C.
D.
Previous demand
Industry growth
Marketing goals
Financial costs
When conducting an external
environmental analysis, business often
focus on
•
•
•
•
A.
B.
C.
D.
Previous demand
Industry growth
Marketing goals
Financial costs
A manufacturer expects product sales
to increase during the coming year.
How does this information affect
product production?
•
•
•
•
A.
B.
C.
D.
Production should decrease
Production should increase.
Production should remain stable.
Production should not be affected.
A manufacturer expects product sales
to increase during the coming year.
How does this information affect
product production?
•
•
•
•
A.
B.
C.
D.
Production should decrease
Production should increase.
Production should remain stable.
Production should not be affected.
When customers have low
involvement with a product and there
is little difference among brands, what
type of buying behavior are they
exhibiting?
•
•
•
•
A.
B.
C.
D.
Habitual
Variety
Complex
Basic
When customers have low
involvement with a product and there
is little difference among brands, what
type of buying behavior are they
exhibiting?
•
•
•
•
A.
B.
C.
D.
Habitual
Variety
Complex
Basic
The financial componenet of a
marketing plan helps a business to
compare the projected costs of
implementing the plan with the
expected
•
•
•
•
A.
B.
C.
D.
Benefits
Expenses
Losses
Strategies
The financial componenet of a
marketing plan helps a business to
compare the projected costs of
implementing the plan with the
expected
•
•
•
•
A.
B.
C.
D.
Benefits
Expenses
Losses
Strategies
Customers are more likely to spend a
lot of time evaluating several options
before buying a product when
•
•
•
•
A.
B.
C.
D.
The product is perishable.
The product is expensive.
The need is immediate.
Brand insistence is a factor.
Customers are more likely to spend a
lot of time evaluating several options
before buying a product when
•
•
•
•
A.
B.
C.
D.
The product is perishable.
The product is expensive.
The need is immediate.
Brand insistence is a factor.
Morgan Health Supply Company wants
to expand its product line this year. It
uses its budget surplus to invest in
new products rather than to remodel
its offices. This is an example of which
positive action companies should take
•
•
•
•
A. Provide excellent customer service.
B. Align strategies and activities with goals.
C. Demonstrate corporate responsibility.
C. Utilize touch points to reinforce company image.
Morgan Health Supply Company wants
to expand its product line this year. It
uses its budget surplus to invest in
new products rather than to remodel
its offices. This is an example of which
positive action companies should take
•
•
•
•
A. Provide excellent customer service.
B. Align strategies and activities with goals.
C. Demonstrate corporate responsibility.
C. Utilize touch points to reinforce company image.
Which of the following is an example
of an internal change that could affect
a business’s sales forecast?
• A. A direct competitor is planning a new promotional
campaign.
• B. The birth rate increased following the Iraqi war.
• C. A new product line is to be offered by the business.
• D. The economy is struggling with a major drop in
stock market prices.
Which of the following is an example
of an internal change that could affect
a business’s sales forecast?
• A. A direct competitor is planning a new promotional
campaign.
• B. The birth rate increased following the Iraqi war.
• C. A new product line is to be offered by the business.
• D. The economy is struggling with a major drop in
stock market prices.
An international soft drink company that wants
to add bottled spring water to its product mix
has determined there are four major brand that
currently hold the majority of the market share
for that product. The strengths and weaknesses
of each potential competition have been
examined. This is an example of a(n)
• A. Action plan
• B. Marketing strategy
• C. Situation analysis
• D. Purpose and mission
An international soft drink company that wants
to add bottled spring water to its product mix
has determined there are four major brand that
currently hold the majority of the market share
for that product. The strengths and weaknesses
of each potential competition have been
examined. This is an example of a(n)
• A. Action plan
• B. Marketing strategy
• C. Situation analysis
• D. Purpose and mission
Complex buying behavior is most
likely involved when the customer
is purchasing
•
•
•
•
A.
B.
C.
D.
A car
A meal
Socks
Gasoline
Complex buying behavior is most
likely involved when the customer
is purchasing
•
•
•
•
A.
B.
C.
D.
A car
A meal
Socks
Gasoline
Technological advances can help
companies provide more customer
service with fewer employees, but why
must the companies be careful?
•
•
•
•
A. Technology cannot provide 24-7 service.
B. Computers and telephones break down regularly.
C. Current employees may go on strike.
D. Customers may feel they are losing their human
touch.
Technological advances can help
companies provide more customer
service with fewer employees, but why
must the companies be careful?
•
•
•
•
A. Technology cannot provide 24-7 service.
B. Computers and telephones break down regularly.
C. Current employees may go on strike.
D. Customers may feel they are losing their human
touch.
One of the main reason for developing
a marketing plan is to identify the
strategies necessary to achieve the
marketing
•
•
•
•
A.
B.
C.
D.
Functions
Objectives
Mix
Share
One of the main reason for developing
a marketing plan is to identify the
strategies necessary to achieve the
marketing
•
•
•
•
A.
B.
C.
D.
Functions
Objectives
Mix
Share
If you were trying to convince
someone to use quantitative sales
forecasting, which of the following
factors would you stress?
•
•
•
•
A.
B.
C.
D.
Variety of opinions
Factual basis
Minimal cost
Ease with which findings are understood
If you were trying to convince
someone to use quantitative sales
forecasting, which of the following
factors would you stress?
•
•
•
•
A.
B.
C.
D.
Variety of opinions
Factual basis
Minimal cost
Ease with which findings are understood