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quiz003 - Chapter 03 Quiz Evaluating Opportunities in the...

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Chapter 03 Quiz - Evaluating Opportunities in the Changing Marketing Environment 1. When setting objectives for the whole firm, TOP MANAGEMENT should: 1. involve the marketing manager in the objective setting process. 2. set objectives that focus on the highest possible immediate profit potential. 3. stick to general objectives--in order to maintain flexibility. 4. set objectives beyond what can actually be achieved--so everyone will work harder. 5. all of the above. Feedback: LearnObj: 2 Pages: 59-61 2. With regard to a firm's resources (when searching for attractive opportunities): 1. a manufacturer needs skilled production people more than skilled salespeople. 2. lack of financial strength is often a barrier to entry. 3. large companies always have an advantage over smaller companies. 4. a familiar brand name is not very important since there are many new brand names. 5. a patent owner has a 3-year monopoly to develop its product. Feedback: LearnObj: 3 Page: 62 3. A firm may find itself in--or moving toward--pure competition because: 1. customers see the firm's product as having close substitutes. 2. a firm with a unique product has no choice. 3. customers don't have much information about competing suppliers. 4. when the number of competitors is small, they usually make similar decisions. 5. None of the above. Feedback: LearnObj: 4 Page: 63 4. Which of the following is NOT primarily an example of the influence of technology on the external market environment: 1. a camera producer finds a way to enable a camera to store digital pictures -- without film. 2. machines are developed to assemble defect-free electronic components. 3. robots on a production line make it possible to lower cost.
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4. a manufacturer of frozen food is finding that consumers prefer containers that can go from the freezer direct to a microwave oven. 5. the government passes a law that prohibits use of cell phones while driving a vehicle.
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