following statements about customer equity is FALSE?

242. Which of the following statements about customer equity is FALSE?

A. Expected losses depend on customer equity.

B. If the parts of a firm’s marketing program work well together, it should increase the firm’s customer equity.

C. Expected profits depend on customer equity.

D. Customer equity benefits customers but not the company.

E. None of these statements about customer equity is FALSE.

243. The text’s discussion of Ford’s marketing strategy highlights the fact that:

A. it’s not wise for managers to just define a business in terms of the products they currently produce or sell.

B. there is little alternative but to stick with the traditional promotion channels for a product.

C. most consumers see basic products–like cars–as close substitutes for each other.

D. once a firm establishes a position as the market leader, competitors are not likely to be a big problem.

244. The text’s discussion of Ford’s marketing strategy highlights the fact that:

A. creative strategy planning is needed for survival.

B. there is little alternative but to stick with the traditional promotion channels for a product.

C. most consumers want only established products.

D. once a firm reaches a position as the market leader, competitors are not likely to be a big problem.

245. It’s best to think of “breakthrough opportunities” as opportunities which:

A. appeal to the mass market.

B. will quickly create a whole new industry of firms competing with similar marketing mixes.

C. help innovators develop hard-to-copy marketing mixes.

D. increase sales.

E. All of these apply to breakthrough opportunities.

246. help(s) innovators develop hard-to-copy marketing strategies that will be very profitable for a long

time.

A. Opportunity segments

B. Competitive decisions

C. Breakthrough opportunities

D. Competitive marketing

E. Operational decisions

247. Which of the following best illustrates a “breakthrough opportunity?”

A A recording company’s new CD gets unexpected national publicity on MTV and almost every teenager

. wants a copy for Christmas.

B. A drug company develops a patented pill that people can take once a year and safely avoid catching a cold.

C. A bank puts its credit card machines in convenient drive-up locations–so they will be more convenient

for customers.

DA nurse realizes that the growing number of older people will increase the demand for nursing home

. services, so she quits her job and opens a quality nursing center for the elderly.

E.A wireless phone company introduces a new service that offers more free weekend minutes than any other service in its market area.

248. Which of the following would be likely to help you develop a “breakthrough opportunity?”

A. A two-month advantage over competitors in introducing a new product.

B. An idea for a new website animation that will attract consumer attention.

C.Accurate marketing research information about how much of a planned product the target market is likely to buy.

D. None of these would help you develop a breakthrough opportunity.

 

BASIC MARKETING A Marketing Strategy Planning Approach Perreault Jr 19th Edition Test Bank

 

BASIC MARKETING A Marketing Strategy Planning Approach Perreault Jr 19th Edition Test Bank

249. Which of the following could be a “breakthrough opportunity?”

A. A unique technical invention that competitors could not legally copy.

B A contract with the best intermediaries to reach your market–ensuring that they will handle your

. product and no competitors’ offerings.

C. A head start in a market so you can win target customers who will be really loyal to your firm and its offering.

D. All of these could be breakthrough opportunities.

250. A pharmaceutical company spent a significant amount of money developing a new drug to combat high blood pressure. The drug did not cause any of the typical side effects usually associated with blood pressure medications. It was forecasted to be a “blockbuster” medication that would achieve over $1 billion in sales. It would also be difficult for other firms to duplicate, at least in the short-run, because of patent protection and the substantial research and development costs required. The introduction of this new drug would best be described as:

A. Diversification.

B. Market development.

C. A breakthrough opportunity.

D. “Hit-or-miss” marketing.

E. Market penetration.

251. means that a firm has a marketing mix that the target market sees as better than a competitor’s

mix.

A. Competitive advantage

B. Strategic policy

C. Customer equity

D. Comparative opportunity

E. Market development

252.”Breakthrough opportunities” are opportunities that:

A. help innovators develop hard-to-copy marketing strategies.

B. may be turned into marketing strategies that will be profitable for a long time.

C. help the firm develop a “competitive advantage.”

D. help a firm satisfy customers better than some competitor.

E. All of these apply to breakthrough opportunities.

253. Breakthrough opportunities:

A. are so rare that they should be pursued even when they do not match the firm’s resources and objectives.

B. seldom occur within or close to a firm’s present markets.

C. are especially important in our increasingly competitive markets.

D. are those that a firm’s competitors can copy quickly.

E. are best achieved by trying to hold onto a firm’s current market share.

254. Which of the following statements regarding marketing strategies is FALSE?

A. It is useful to think of the marketing strategy planning process as a narrowing-down process. BThese strategies must meet the needs of target customers, and a firm is likely to get a competitive

. advantage if it just meets needs in the same way as some other firm.

C. Developing successful marketing strategies doesn’t need to be a hit-or-miss proposition.

DThese strategies require decisions about the specific customers the firm will target and the marketing

. mix the firm will develop to appeal to that target market.

E. Most companies implement more than one marketing strategy and related marketing plan at the same time.

 

BASIC MARKETING A Marketing Strategy Planning Approach Perreault Jr 19th Edition Test Bank

 

BASIC MARKETING A Marketing Strategy Planning Approach Perreault Jr 19th Edition Test Bank

255. Developing a set of specific qualitative and quantitative screening criteria

A. increases the different opportunities–and strategy possibilities–in the market.

B. can make it difficult to zero in on the best target market and marketing mix.

C. cannot help eliminate potential strategies that are not well suited for the firm.

D. can help a manager define what business and markets the firm wants to compete in.

E. highlights advantages of a strategy but does not make it clear why you should select that strategy.

256.A S.W.O.T. analysis includes:

A. strengths.

B. weaknesses.

C. opportunities.

D. threats.

E. all of these are included in a S.W.O.T analysis.

257. Which of the following statements about S.W.O.T. analysis is true?

A. It is a useful aid for identifying relevant screening criteria and for zeroing in on a feasible strategy.

B.S.W.O.T. is simply an abbreviation for the first letters of the words: strengths, weaknesses, opportunities, and threats.

C. It identifies and lists the firm’s strengths and weaknesses and its opportunities and threats.

D It helps managers focus on a strategy that takes advantage of the firm’s strengths and opportunities

. while avoiding its weaknesses and threats to its success. E. All of these statements about S.W.O.T. analysis are true.

258. A S.W.O.T. analysis

A. seeks to improve strategy planning by “Scanning for Warnings, Omens, and Tips” about competitors’ plans.

B. is not necessary if competitors have already entered the market.

C. defends against potential competitive threats by planning specific “safeguards, weapons, or tactics.”

D. should help a manager develop a strategy that leads to a competitive advantage.

E. None of these apply to a S.W.O.T. analysis.

259. A S.W.O.T. analysis can help a marketing manager:

A. define what business and markets the firm wants to compete in.

B. narrow down to a specific target market and marketing mix from the many alternatives available.

C. see the pros and cons of different possible strategies.

D. develop a competitive advantage.

E. all of these can help a marketing manager who is using a S.W.O.T. analysis.

260. A S.W.O.T. analysis

A. focuses on what a firm plans to do to “Satisfy Wishes Of a Target” customer.

B. summarizes a firm’s “strategy, wishes (of its customers), outlook, and tactics.”

C.helps defend against potential competitors by developing a set of competitive “safeguards, weapons, offensives, and tactics.”

D. identifies a firm’s “strengths, weaknesses, opportunities, and threats.”

E. seeks to reduce the risk of competitive surprises by scanning the market for “signals, warnings, omens, and tips.”

261. In which quadrant of the SWOT analysis tool does the following fit? A firm has adequate resources.

A. Strengths.

B. Weaknesses.

C. Opportunities.

D. Threats.

262. In which quadrant of the SWOT analysis tool does the following fit? A firm is in a fast-growing industry.

A. Strengths.

B. Weaknesses.

 

BASIC MARKETING A Marketing Strategy Planning Approach Perreault Jr 19th Edition Test Bank

 

BASIC MARKETING A Marketing Strategy Planning Approach Perreault Jr 19th Edition Test Bank

 

C. Opportunities.

D. Threats.

 

BASIC MARKETING A Marketing Strategy Planning Approach Perreault Jr 19th Edition Test Bank

 

BASIC MARKETING A Marketing Strategy Planning Approach Perreault Jr 19th Edition Test Bank

263. In which quadrant of the SWOT analysis tool does the following fit? A firm is vulnerable to recession.

A. Strengths.

B. Weaknesses.

C. Opportunities.

D. Threats.

264. In which quadrant of the SWOT analysis tool does the following fit? A firm is falling behind in research and development.

A. Strengths.

B. Weaknesses.

C. Opportunities.

D. Threats.

265.means that the marketing mix is distinct from and better than what is available from a competitor.

A. Operational

B. Visible

C. Differentiation

D. Competitive

E. None of these is correct

266. Differentiation of a firm’s marketing mix:

A. Means the firm’s marketing mix is hard to distinguish from a competitor.

B. May provide the firm with a competitive advantage in the marketplace.

C.Makes it harder for consumers to notice if there is a consistent theme across all elements of the marketing mix.

D. Is usually not necessary in order for the firm to succeed.

267. Differentiation refers to the	of the firm’s marketing mix to meet the needs of the target
market.
A. similarity
B. uniqueness
C. unsuitability
D. willingness

268.Differentiation

A. helps a firm get a competitive advantage if it just meets needs in the same way as other firms.

B. means that the marketing mix is similar to what is available from a competitor.

C. often requires that the firm fine-tune all of the elements of its marketing mix to the specific needs of a distinctive target market.

D.is less obvious to target customers when there is a consistent theme integrated across the four Ps decision areas.

E. can only be based on one important element of the marketing mix.

269. means trying to increase sales of a firm’s present products in its present markets.

A. Product development

B. Market penetration

C. Market development

D. Mass marketing

E. Diversification

270. means trying to increase sales of a firm’s present products in its present markets.

A. Differentiation

B. Product development

C. Market development

D. Diversification