ISB - Review Mid-Term - Nov 2010

Mid-term review
PRINCIPLES OF MARKETING
Nguyen Thi Mai Trang 1

Chapter 1: Marketing’s value to
consumers, firms and society
Chapter 2: Marketing strategy
planning
Chapter 3: Focusing marketing
strategy with segmentation and
positioning
Chapter 4: Evaluating Opportunities in
the changing marketing environment.
Chapter 5: Behavioral dimensions of
the consumer market
Chapter 6: Organizational customers
and their buying behavior
Chapter 7: Improving decisions with
marketing information
Customer satisfaction is the
extent to which a firm fulfills
a customer’s needs, desires,
and expectations.
Utility means the power to
satisfy human needs

Segmenting_________is an
aggregating process - clustering
people with similar needs into a
“market segment.”

Market segment______________
is a (relatively) homogeneous
group of customers who will
respond to a marketing mix in a
similar way.

Dimensions are used to segment
qualifying dimension_are those

relevant to including a customer
type in a product-market.
determining dimension_are those
that actually affect the customer’s
purchase of a specific product or
brand in a product-market.
The American Marketing Association states that
"marketing is":
A) advertising and selling
B) the process of finding buyers
C) the art of maximizing profits
D) the execution of a precise sales plan
E) a process of creating, communicating and delivering
value
The four P's of the marketing mix are:

A) personnel, priorities, placement, and profits
B) promotion, product, personnel, and place
C) product, place, distribution and advertising
D) product, promotion, price and place
E) profitability, productivity, personnel and packaging8
Nguyen Thi Mai Trang
Simple trade orientation can be described as:
A) each family raised and consumed everything it produced
B)traders play an important role
C)consumers get items that they don’t have in exchange for
those they produced
D)producers (families) traded or sold their surplus output to
local intermediaries.
E)all of the above

The production__oriented organisations primarily
interested in issues such as the efficient use of
production capacity; labor costs; and product
shortages.
Marketing department orientation characterises:

a. sales volumes were increasing rapidly
b. the company had to integrate the efforts of other
functional departments.
c. marketing activities were brought under the control of a
single department.
d. a & c
e. all of the above

The marketing concept has
three fundamental
components:
a. Total company effort

b. Profit
c. Customer satisfaction
11
The marketing concept has three
fundamental components:
a. total company effort

b. customer satisfaction
c. corporate goal (profit)
12
SWOT analysis refers to an analysis of a
company's _____.
a.systems; withholdings; operations; technology

b.strategic units; workers; opportunities; technology
c.systems; weaknesses; operations; threats
d.strengths; weaknesses; opportunities; threats
e.strengths; weaknesses; opportunities; technology
13
The availability of storage and
display space in Coopmart’s store
provides
a. space utility.
b. place utility.
c. form utility.
d. financial utility.
e. an interest factor.

In terms of the marketing mix, a
television show like The Drew
Carey Show is an example of
A) place.
B) form utility.
C) promotion.
D) product.
E) price.

Production and marketing supply _______ that
are needed to provide customer satisfaction:
A) form and task utility

B) time utility
C) place utility
D) possession utility
E) all of above

Place consists of the followings
EXCEPT:
a.channel type
b.kinds of intermediaries
c.locations of stores
d.transporting & storing
e.media types

An organisation’s marketing strategy
planning contains the followings:
a.a target market

b.a marketing mix or Four Ps
c.satisfy consumers’ needs and wants
d.control the setting objectivese.
e. a & b

The marketing environment can be
classified as:
a. the competitive environment
b. the technological environment
c. the customers
d. the company
e. a,d &c
Which of the following the marketing

manager could not control:
A) economic & technological environment
B) political & legal environment
C) cultural & social environment
D) product, promotion, price and place
E) a,b &c Nguyen Thi Mai Trang 19
Which of the following is NOT a
consideration of the external market
environment?
a. How the economy is going and any impact this

has on the organisation
b. How the pricing of the goods will impact on
competitors' market share
c. How new government regulation could affect
sales.
d. How the increase in the number of women in
the work force will affect sales

Which of the following is not TRUE?
a. In pure competition, competitors offer very
similar products, marketing managers often
make lower prices in order to make consumers
choice their product
b. In monopoly situations, one company
completely controls a broad product market.
c. In monopolistic competition, marketing
managers try to differentiate very similar
products by relying on other elements of the
marketing mix
d. The marketing mix that offers customers the
best value is the one with the lowest price.

Which of the following statements is not
TRUE?
a. the technological environment often provides a
base for the economic environment.
b. technology is the application of science to convert
the resources of an economy to output.
c. ethnocentrism or nationalism is an emphasis on a
country’s interests above all else.
d. the cultural and social environment affects how
people live and what they behave as they do.
e. languages, types of education, religion, types of
foods, styles of clothing and housing are examples
of legal factors.

Competitive advantage__ exists
when the marketing mix of the
company is perceived by the
target market as superior to
those of the company’s
competitors.

Business Review Weekly has been trying to
attract new customers by promoting its
magazine for student use in business courses.
This is an example of:
a. Diversification
b. Market penetration
c. Product development
d. Market development
e. Target marketing

Which of the following statements is not TRUE?
a.Information is necessary for the purpose of
planning, implementation and control
b.Obtaining information about customers and
competitors may be costly and time consuming
c.Good market research requires cooperation between
researchers and marketing managers
d.The task of a marketing researcher is to obtain
factual information that is currently available in the
organisation’s marketing information system.
e.Market research means procedures to develop and
analyse new information for assistance in decision
making.

Which of the following statements on
market research is TRUE?
a. Market research cannot be used by political

parties, as no marketing activity is involved
b. Market research is used to obtain reliable
information to assist in making marketing
decisions.
c. Market research can not be used by non-
profit organisations
d. All of the above statements are true

The first step in the five-step
approach to market research is:
a. Analysing the situation

b. Obtaining problem-specific data
c. Defining problem
d. Interpreting the data
e. Solving the problem

Which of the following is NOT
part of the marketing mix?
a. A product or service assortment.

b. A pricing structure.
c. Distribution systems and
channels.
d. Advertising tactics.
e. Promotional activities.

Strategic management planning is:
a. a managerial process of developing &

maintaining a match between an
organisation’s resources and its market
opportunities.
b.a senior management responsibility
c.planning for marketing activities only
d.planning for marketing activities,
production, finance, human resources, and
other functional areas.
e.all of the above
An organisation’s marketing
strategy planning contains the
followings:
a.a target market

b.a marketing mix or Four Ps
c.satisfy consumers’ needs and wants
d.control the setting objectives.
e. a & b

Company files and reports,
Yellow pages, government
publications. This is an example
of:
a.Secondary data
b.Information need
c.Primary data
d.None of the above
e.b & c

Which of the following statement
on secondary data is its
disadvantage?
a.Data have been collected & published

b.Data come from inside the organization
c.Data come from outside the organization
d.Data may be out of date
e.a, b,c, & d.

Qualitative research_ seeks in-depth,
open-ended responses rather than
predetermined clear-cut answers such as
“yes” or “no”.
Quantitative reserach_ seeks structured

responses that can be summarised
numerically _ such as percentages,
averages, frequences and the like.

The most widely used form of
qualitative questioning_ is the focus
group interview which involves
interviewing, typically, six to 12 people
simultaneously in an informal group
setting, dealing with a predetermined
topic.

Which of the following is the
shortcoming of mail surveys?
a.Respondents are more willing to fill in
personal or family characteristics
b.No interviewer is available to assist clarify
them
c.Respondents can complete the questions at
their convenience.
d.Many people do not complete or return the
questionnaire.
e.All of the above are the shortcomings of mail
surveys.
A _________ is a market with broadly similar
needs, with sellers offering various ways of
satisfying those needs.
a.generic market
b.product market
A ________ is the market with very similar

needs, with sellers offering similar or
substitutes, products to satisfy those needs.
a.generic market
b.product market

_______describes the goods/services that customers
want.
___________ is where a company is competing, or
thinking of competing, for customers.
________refer(s) to the final consumer or user of a

product type.
_______ refer(s) to the needs the product type is able to

satisfy for the customer.
a.product type, customer need, cutomer type, geographic area

b.product type, cutomer type, customer need, geographic area
c.product type, geographic area,customer need, cutomer type
d.product type, geographic area, cutomer type, customer need

The ____B___approach involves segmenting the market
and choosing two or more segments, each of which will
be treated as a separate target market requiring a
different marketing mix.
The ____C_____approach is to examine various

submarkets and to extend (or modify ) the basic offering
to appeal to two or more segments by using a single
marketing mix
The _____A___approach involves segmenting the market

and selecting one of the homogeneous segments as the
company’s target market.
a.The single target market approach,

b.The multiple target market approach
c.The combined target market approach
____C___ are those that are relevant to the
decision of whether or not to include a
customer type in a product market.
___D_____ are those that actually affect the

customer’s purchase of a specific product or
brand in a product market.
a. Market segmentation
b. Target marketing
c. Qualifying dimensions
d. Determining dimensions
e. None of the above
If the customer wants to buy a computer
software, he must have enough money,
must also own a computer. This is an
example of a(n):
a. Determining dimension
b. Qualifying dimension

A television advertisement shows several teenagers
searching through the refrigerator for something to
quench their thirst. The refrigerator offers the
youngsters many alternatives—soft drinks, fruit drinks,
sport drinks and bottles of Sunny Delight drink. The ad,
which shows the teens happily selecting Sunny Delight
over all the other product offerings, appeals to the
consumers' __________ for liquid and attempts to
shape consumers' __________ for the advertised
product.
a.wants; needs
b.wants; preferences
c.needs, preference
d.need, want
____B___ exists when the marketing mix of the
company is perceived by the target market as
superior to those of the company’s competitors.
____A____refers to how customers regard

proposed and present brand in a market.
___D__ is computer-generated graphs

summarise product users’ judgements about
different brands and their “ideal” brand.
a. Positioning
b. Competitive advantage
c. Repositioning
d. Perceptual mapping
__________ is an organizational function and a
set of processes for creating, communicating,
and delivering value to customers and for
managing customer relationships in ways that
benefit the organization and its stakeholders.
a.creative planning
b.advertising
c.marketing
d.selling

The first objective in marketing is:
a.brainstorming
b.promotion of product to make consumers
aware of its existence.
c.product innovation.
d.creating a mission statement.
e.discovering the needs of prospective consumers

Marketing manager's controllable factors--product,
price, promotion, and place--are the company's
a. environmental factors.
b. marketing program
c. marketing mix factors
d. marketing concept
e. four utilities

By matching various Rollerblade products to each
of four key segments, Rollerblade is building a:
a.marketing program
b.marketing plan
c.marketing concept
d.Macro marketing plan

Which of the following statements about environmental
factors is true?
a.environmental factors may restrict an organization's

opportunities.
b.environmental factors may enhance an organization's
opportunities
c.environmental factors are also called uncontrollable
factors
d.environmental factors include social, economic,
technological, competitive, and regulatory forces.
e.all of the above statements about environmental factors
are true

The idea that an organization attempts to satisfy
consumer needs while achieving organizational goals
is called the __________ era.
a.sales
b.production
c.marketing
d.societal marketing concept

Which of the following is the best example of
an organizational buyer?
a.a mother buying milk for her young son

b.a computer programmer buying the latest game for
his Play station
c.a store owner buying hand-painted slate signs to sell
in her store
d. a botanist buying a rose bush for his home garden
e.a baseball player buying a t-ball set for his daughter

Nita is a big fan of the Los Angeles Clippers. She
lives in Buffalo, New York, and was unable to buy
team merchandise unless she traveled to Los
Angeles. She recently learned that the NBA team
had a catalog from which she could purchase team-
related merchandise. For Nita, the catalog for Los
Angeles Clippers merchandise created
__________ utility.
a.form
b.place
c.possession
d.price
e.promotion

Profit is:
a.the point at which company assets equal

company liabilities.
b. the money left over after a firm's total expenses are
subtracted from its total revenues. x
c. the goodwill earned from implementing the societal
marketing concept.
d. the money earned as long as the economic order
quantity is maintained.
e. accurately described by all of the above.

Which market-product strategy involves selling a
new product to existing markets?
a.market development
b.market penetration
c.product development
d.diversification

In January, Honda announced plans to increase
the light truck share of its U.S. sales by 30
percent in the next twelve months. This would be
an example of a __________ strategy.
a.market development
b.market penetration
c.product development
d.diversification

The key steps of planning, implementation, and
control are part of what is called:
a. gap analysis.
b. the strategic marketing process.
c. the situational marketing process.
d. the developmental market analysis.
e. the market determinant method.

With respect to consumer behaviour,
which of the following is NOT a
psychological variable?
a.motivation
b.personality
c.values, beliefs, and attitudes
d.perception
e.reference groups

Which statement is FALSE?
a.Perception is the process by which an individual
selects, organizes, and interprets information to
create a meaningful picture of the world.
b.Consumer purchase decision process has five
stages: problem recognition, information search,
alternative evaluation; purchase decision;
postpurchase behavior.
c.Brand loyalty is favorable attitude toward and
consistent purchase of a single brand over time.
d.Beliefs is a learned predispositioned to respond to
an object or class of objects in a consistently
favorable or unfavorable way.
e.Opinion leaders are individuals who have social
influence over others. Nguyen The Mai Trang 56
____________ is a change in a person’s
thought processes caused by prior
experience.
a.learning
b.personality
c.values
d.perception
e.reference groups

___C____ control the flow of information in the
buying centre.
__D____ have the formal & informal power to

select or approve the suppliers that receives the
contract.
___E___ have formal authority and responsibility

to select the supplier and negotiate the terms of
the contract.
a.users
b.influencers
c.gatekeepers
d.deciders
e.Buyers Nguyen Thi Mai Trang 58
_____A__ involves aggregating prospective
buyers into groups that (1) have common needs
& (2) will respond similarly to a marketing action.
___B___ are the relatively homogeneous groups

of prospective buyers that result from the market
segmentation process.
a.market segmentation
b.market segments
c.deciders
d.buyers

Criteria to use in forming the segments:
a.potential for increased profit

b.similarity of needs of potential buyers within a
segment
c.difference of needs of buyers among segments
d.potential of a marketing action to reach a
segment
e.all of the above

Criteria to use in picking the target
segments:
a.market size
b.expected growth
c.compatible with the organization’s objectives &
resources
d.competitive position
e.all of the above

Hi ..., (please leave your name in the email),

approach org. customers directly means organizational customers often buy
directly from suppliers (Ex: Vietnam Airlines buy planes directly from Boeing)

MTrang

Dear Mrs.Trang,
I have some questions about organizational customers whose behaviors you have
mentioned. There was one behavior saying that : Approach organizational
customers directly. Can you explain more about that ?
Thank you.

competive ad._______ exists when the marketing mix of the company is perceived by
the target market as superior to those of the company’s competitors.
Positioning________refers to how customers regard proposed and present brand in a
market.
Perceptual mapping_____ is computer-generated graphs summarise product users’
judgements about different brands and their “ideal” brand.
Positioning
Competitive advantage
Repositioning
Perceptual mapping

2)
By matching various Rollerblade products to each of four key segments, Rollerblade is
building a:
marketing program X
marketing plan
marketing concept
macromarketing plan

3. Which of the following statements is not TRUE?
Information is necessary for the purpose of planing, implementation and control.

Obtaining information about customers and competitors may be costly and time
consuming.
Good market research requires cooperation between researchers and marketing

managers.
The task of a marketing researcher is to obtain factual information that is currently

available in the organisation’s marketing information system.
Market research means procedures to develop and analyse new information for
assistance in decision making.

4)

The idea that an organization attempts to satisfy consumer needs while achieving
organizational goals is called the __________ era.
sales
production
marketing
societal marketing concept
5)
Which of the following statements regarding product life cycles
is TRUE?
A) Every new product must pass through all four stages of
the product life cycle.
B) Industry sales and profits tend to reach their maximum
during the market maturity stage.
C) Product life cycles are generally getting shorter and
cannot be extended.
D) Product life cycles describe industry sales and profits
within some product market.
E) All of the above are true.
IGNORE THIS QUESTION! YOU WILL LEARN PRODUCT LIFE CYCLES LATER.
MTRANG


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Mid-term review

Nguyen Thi Mai Trang 1

Nguyen Thi Mai Trang 4

Nguyen Thi Mai Trang 5

Nguyen Thi Mai Trang 6

qualifying dimension_are those

The four P's of the marketing mix are:

Nguyen Thi Mai Trang 9

Marketing department orientation characterises:

Nguyen Thi Mai Trang 10

a. Total company effort

a. total company effort

a.systems; withholdings; operations; technology

Nguyen Thi Mai Trang 14

Nguyen Thi Mai Trang 15

A) form and task utility

Nguyen Thi Mai Trang 16

Nguyen Thi Mai Trang 17

a.a target market

Nguyen Thi Mai Trang 18

Which of the following the marketing

a. How the economy is going and any impact this

Nguyen Thi Mai Trang 20

Nguyen Thi Mai Trang 21

Nguyen Thi Mai Trang 22

Nguyen Thi Mai Trang 23

Nguyen Thi Mai Trang 24

Nguyen Thi Mai Trang 25

a. Market research cannot be used by political

Nguyen Thi Mai Trang 26

a. Analysing the situation

Nguyen Thi Mai Trang 27

a. A product or service assortment.

Nguyen Thi Mai Trang 28

a. a managerial process of developing &

a.a target market

Nguyen Thi Mai Trang 30

Nguyen Thi Mai Trang 31

a.Data have been collected & published

Nguyen Thi Mai Trang 32

Quantitative reserach_ seeks structured

Nguyen Thi Mai Trang 33

Nguyen Thi Mai Trang 34

A ________ is the market with very similar

Nguyen Thi Mai Trang 36

________refer(s) to the final consumer or user of a

_______ refer(s) to the needs the product type is able to

a.product type, customer need, cutomer type, geographic area

Nguyen Thi Mai Trang 37

The ____C_____approach is to examine various

The _____A___approach involves segmenting the market

a.The single target market approach,

___D_____ are those that actually affect the

Nguyen Thi Mai Trang 40

____A____refers to how customers regard

___D__ is computer-generated graphs

Nguyen Thi Mai Trang 43

Nguyen Thi Mai Trang 44

Nguyen Thi Mai Trang 45

Nguyen Thi Mai Trang 46

a.environmental factors may restrict an organization's

Nguyen Thi Mai Trang 47

The C_approach is to examine various

The ___A_approach involves segmenting the market

_D___ are those that actually affect the

Arefers to how customers regard

_D is computer-generated graphs

D__ have the formal & informal power to

_E_ have formal authority and responsibility

_B_ are the relatively homogeneous groups