Question 9

Market penetration occurs when:

1. a supermarket adds a new store
2. a U.S.-based company begins to sell its products in China
3. Motown records sells DVDs to Wal-Mart
4. Yoplait yogurt sends coupons to its existing customers

Question 10

When properly created, an SBU has all of the following characteristics EXCEPT:

1. plans independent of the other SBUs in the total organization
2. control over its own resources
3. a distinct mission
4. no competitors

Question 11

One facet of marketing is that it is:

1. an approach that focuses on maximizing sales
2. a short-term oriented approach to profit maximization
3. an approach that requires diversity
4. a philosophy that stresses customer satisfaction

Question 12

Canon began as a camera-making company but has since become a company that produces a wide range of office equipment in addition to cameras. Canon's managers evidently believe in growth through:

1. market penetration
2. diversification
3. product development
4. market development

Question 13

After learning that many of their customers were shopping at a nearby health-food store for free-range chickens and organic produce, IGA grocery stores began stocking more organic items. IGA adjusted its market strategy based on _____

1. market sampling
2. internal audit
3. environmental scanning
4. competitive analysis

Question 14

Blogs created by consumers can be used to assess customer attitudes toward new products as well as customer perceptions of new products. Marketers' ability to search for key words used in the blogs is an example of a change in the _____ factor of the external environment.

1. psychographic
2. technological
3. competitive
4. demographic

Question 15

The owner of Maine Kitchen Art bowls, spoons, and cutting boards knows marketing can make his company a success. He wants to rely solely on promotion as the technique for attracting customers. He advertises extensively in cooking magazines and provides retailers who carry his product with attractive displays. From this information, you know that Maine Kitchen Art has a _____ orientation.

1. market
2. societal
3. production
4. sales

Question 16

A firm with a production orientation is more likely to survive if:

1. there are many small competitors in the marketplace
2. demand for the product it produces exceeds supply
3. the needs of the marketplace are constantly shifting
4. supply for the product it produces exceeds demand

Question 17

The U.S. Postal Service (USPS) argues that its express service is comparable to what is offered by FedEx and that its prices are much lower. Yet, FedEx dominates with more than a 45 percent share of the express-delivery market. Which of the following statements describes this situation?

1. The USPS is perceived as offering greater customer value.
2. FedEx is perceived as offering greater customer value.
3. FedEx and the USPS offer the same customer value.
4. Customer value is not an issue in deciding which express-delivery service to use.

Question 18

The goal of environmental scanning is to _____.

1. identify opportunities and threats in the marketplace
2. eliminate all competition in the marketplace
3. close all environmental loopholes
4. control the external environment

Question 19

A market-oriented firm defines its business in terms of:

1. goods and services
2. the benefits its customers seek
3. employee empowerment
4. competitive position

Question 20

Earl is starting a new bank. Before their opening day Earl had a meeting with all employees. He discussed their mission, defined objectives for the bank for the coming years and shared who their target market is. He talked about their product offerings and where their future branches would be located. Earl is sharing the bank's:

1. reengineering
2. hierarchical restructuring
3. financial analysis
4. marketing plan