Mkt Mgmt Chapter 4 Midterm Questions Database--10-10-06

Mkt Mgmt Chapter 4 Midterm Questions Database--10-10-06 -...

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Name: __________________________ Date: _____________ 1. When setting objectives for the whole firm, TOP MANAGEMENT should: A) involve the marketing manager in the objective setting process. B) set objectives that focus on the highest possible immediate profit potential. C) stick to general objectives--in order to maintain flexibility. D) set objectives beyond what can actually be achieved--so everyone will work harder. E) all of the above. 2. Of the following objectives, the LAST objective(s) that a firm should specify is its ______________ objective(s). A) marketing B) sales promotion C) price D) company E) promotion 3. Of the following, the last objectives that a firm should specify are its A) company objectives. B) marketing objectives. C) promotion objectives. D) advertising objectives. E) price objectives. 4. Along with studying trends in the environment, a first step in looking for attractive opportunities is to: A) understand the resources and objectives of the firm. B) decide which product-markets the firm will enter. C) find new markets for present products. D) estimate product-market potentials. E) hire a marketing strategy planner. 5. Regarding the competitive environment, a marketing manager usually can: A) choose strategies to avoid head-on competition. B) control it with the help of the legal environment. C) control it in the short run. D) control it with the help of the political environment. E) control it in the long run. Page 1
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6. Rising costs and inflation are part of the uncontrollable ______________ environment. A) technological B) economic C) competitive D) legal E) cultural and social 7. The marketing manager for a financial services firm knows that customer preferences for mutual funds and bond accounts will differ depending on the current interest rate. She must plan her offerings with the _____ environment in mind. A) economic B) social C) technological D) cultural E) legal 8. Underlying any economic environment is technology which affects: A) how the economy's resources are converted to output. B) how quickly technological developments lead to new consumer protection laws. C) how competitors react to each other. D) how aggressive competitors are in planning new marketing strategies. E) how fast consumer attitudes change. 9. Which of the following is NOT an example of how the economic and technological environment may affect marketing strategy planning? A) The price of bicycles is rising because of inflation. B) Bicycle manufacturers are finding it difficult to sell from websites because shipping an individual bike is very expensive. C)
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Mkt Mgmt Chapter 4 Midterm Questions Database--10-10-06 -...

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