Final Exam Prep Chapter 9 Marketing and Sales

Technology Ventures (Byers), 5e

Chapter 9 Marketing and Sales

1) Marketing has the objective of ________ customers.

A) Retaining

B) Leading

C) Hiring

D) Teaching

2) Which of the following is not an element of the marketing plan?

A) Marketing mix

B) Marketing boundaries

C) Marketing objectives

D) Market research

3) The goal of ________ is to ________.

A) Marketing objectives; identify one or more customer targets

B) Target segments; create a clear statement

C) Marketing mix; describe the price, product, promotion, and channels

D) Customer relationship management; state the terms and conditions

4) All of the following come before "market research" in the creation of the marketing plan except:

A) Sales plan

B) Business model

C) Mission and Strategy

D) Marketing objectives

5) A marketing objectives statement would include all of the following except:

A) sales goals

B) market share

C) profitability

D) product design

6) A market segment would be similar in all of the following ways except:

A) geographical location

B) marketing mix

C) purchasing power

D) buying attitudes

7) Which of the following is a question that a company should ask to determine the initial target market?

A) Can the target customer work for you?

B) Are you able to deliver on time?

C) What kind of solutions do competitors offer to the target customer?

D) Is the target customer familiar with your business plan?

8) Positioning is the act of designing the product offering and image to occupy a distinctive place in the executives' minds.

9) Which of the following attributes is not on the axis of a positioning map?

A) Cluttered

B) Professional

C) Streamlined

D) Unique

10) Once a firm has a product offering, they can begin to build a powerful product positioning.

11) A brand can be all of the following except:

A) The perceived worthiness of the product

B) A sign or symbol

C) A mechanism by which ventures differentiate themselves

D) A way for buyers to identify sellers

12) Which of the following is not a dimension of brand equity?

A) Brand awareness

B) Brand associations

C) Brand loyalty

D) Brand range

13) A brand becomes an icon when it offers a compelling story that resonates with consumers.

14) The ________ element of marketing mix includes ________.

A) Product; Credit terms

B) Place; Sales force

C) Promotion; Public relations

D) Price; Advertising

15) Consider a product where the total market demand is 8,000 units per year. If market research shows that the market is price sensitive and k=100, then when the price is set at $50, the demand per year is for:

A) 2,000 units

B) 3,000 units

C) 4,500 units

D) 6,000 units

16) If variable cost is $40, demand in units is 1,500, and revenues is $70,000, gross product is:

A) $1,000

B) $5,000

C) $7,500

D) $10,000

17) If you keep the sensitivity constant, k constant and increase price, the gross profit will always decline.

18) ________ Price and ________ perceived quality is characteristic of Value products.

A) Low; Low

B) Low; High

C) High; Low

D) High; High

19) Customer relationship management conversations necessarily consist of all the following except:

A) Economic exchanges

B) Product offering

C) Context of the exchange

D) Customer attraction

20) "Crossing the chasm" refers to bridging the gap between ________ and ________.

A) Visionaries; Pragmatists

B) New businesses; Venture capitalists

C) Analysts; Conformists

D) Enthusiasts; Rapid adopters