1. The Objective and Task method of budgeting involves:
1. Determining our own objectives and deciding what tasks we need to carry out.
2. Determining what the consumer's objectives are, and deciding what tasks we need to carry out to meet those objectives.
3. Finding out what the competitors' objectives are and deciding what tasks they will be carrying out.
4. Determining the marketing budget for promotional activities
Answer: Determining our own objectives and deciding what tasks we need to carry out
2. Which of the following is not a financial objective?
1. Customer loyalty
2. Sales
3. Economic value added
4. Market share
Answer: Customer loyalty
3. What is the difference between strategy and tactics?
1. Strategy reflects medium term objectives.
2. Strategy is about major issues: tactics is about minor issues.
3. Strategy is about overall direction: tactics is about ways of getting there.
4. Strategy is formal, tactics are informal
Answer: Strategy is about overall direction: tactics is about ways of getting there
4. Marketing planning occurs at which of the following company levels-
1. The product level
2. The market level
3. The business-unit level
4. All of the above
Answer: All of the above
1. Marginal approach
2. Comparative parity method
3. Objective method
4. Task method
5. All-you-can-afford method
Answer: Marginal approach
1. Critical issues
2. Marketing strategies
3. Action plans
4. Executive summary
5. Objectives
Answer: Action plans
1. Percent of sales method
2. Marginal approach
3. Comparative parity method
4. Objective and task method
Answer: Comparative parity method
1. Financial controls
2. SWOT Analysis
3. Marketing strategy
4. Executive summary
Answer: SWOT Analysis
9. Which of the following statements are not true of market challengers?
1. They carry out flanking activities.
2. They have a stake in the status quo.
3. They often direct their competitive activity at smaller firms.
4. They tend to use penetration-pricing strategies as a way of expanding their existing business.
Answer: They have a stake in the status quo.
1. The implementation of plans to achieve long-term aims
2. Decided by functional marketing strategy
3. The framework for functional marketing strategy
4. More specific and practical than marketing strategy
5. Reactive to short-term competitive activity
Answer: The implementation of plans to achieve long-term aims
11. What is the statement of the organizations purpose?
1. Mission statement
2. Organizational intent
3. Organizational perspective
Answer: Mission statement
12. Introducing new products to existing markets is an example of which of the following-
1. Concentric diversification
2. Horizontal diversification
3. Conglomerate diversification
4. Vertical diversification
Answer: Horizontal diversification
13. When a company acquires a supplier through an acquisition strategy, this is referred to as:
1. Backward integration
2. Forward integration
3. Vertical marketing system
4. Horizontal integration
Answer: Forward integration
14. What is the marketing audit?
1. An examination of the costs and expenditures involved in marketing
2. A check on the cost-effectiveness of the firm marketing expenditure
3. A 'snapshot' of the firm's current marketing activities
4. The introduction of a new costing mechanism
Answer: A 'snapshot' of the firm current marketing activities
15. Which of the following is not a category of costs?
1. Direct costs
2. Common costs
3. Competitive costs
4. Traceable costs
5. Economic value added
Answer: Competitive costs
16. What drives the marketing strategies of an organization?
1. The vision of the marketing director
2. Internal resources of an organization
3. The vision of the CEO
4. The corporate strategy of the organization
Answer: The corporate strategy of the organization
1. Direct sales effort vs. market development
2. Short-term profit vs. long-term growth
3. Penetrating existing markets vs. developing new ones
4. Profit vs. non-profit goals
Answer: Short-term profit vs. long-term growth
1. Expand market share.
2. Defend its position.
3. Maintain status quo.
4. Attack their competitors.
5. Expand the total market.
Answer: Expand the total market
1. Reducing fixed costs
2. Reducing variable costs
3. Mobile defense
4. Reducing capital cost.
Answer: Reducing variable costs
1. Flanking attack
2. Frontal attack
3. Encirclement attack
4. Bypass attack.
Answer: Flanking attack
1. Cloner
2. Adaptor
3. Product development
4. Imitator
Answer: Imitator
1. Product or feature specialist
2. End-use specialist
3. Specific-customer specialist
4. Vertical-level specialist
Answer: End-use specialist
1. Diversification
2. Product development
3. Market development
4. Market penetration
Answer: Market penetration
1. diversification
2. market development
3. market penetration
4. product development
Answer: Market development
1. Action programs
2. Objectives
3. Marketing audit
4. Marketing strategy
5. Critical issues
Answer: Objectives