SECTION A MULTIPLE CHOICE QUESTIONS [20 MARKS] Answer ALL questions. Each question carries ONE (1) mark. Choose one alternative that best answers the question 1. Effective relationship marketing is based in part on the use of ___________. A. inside information about competitors. B. databases to track customer preferences. C. larger advertising budgets. D. knowledge about changes in economic conditions. 2. The ___________ is the organizational program for selecting a target market and satisfying customers in that market through the marketing mix. A. marketing objectives B. marketing strategy C. marketing plan D. strategic plan 3. In general, the purpose behind a domestic firm forming a strategic alliance with a firm in a foreign market is to ___________. A. stabilize prices in both markets B. acquire a dominant position in the foreign market. C. acquire local expertise for a company expanding its operations abroad. D. change its identity and appear more local in the foreign market. 4. Attaining organizational objectives by predicting and influencing the competitive, political-legal, economic, technological, and social-cultural environments is referred to as___________________. Degree Sessional Structured Timed Assignment January -June MK212/MK222-Principles of Marketing A. research and development. B. marketing research. C. environmental management. D. environmental analysis. 5. When groups establish values and behaviors, they deem appropriate for their members, those values and behaviors are called group ___________. A. Rules. B. norms. C. ideals. D. behaviors. 6. According to A. H. Maslow, one's need for burglar alarm systems, retirement investments, insurance, and smoke and carbon monoxide detectors grows out of one's need for ___________. A. esteem. B. belongingness. C. education. D. safety. 7. Marketing research, by presenting pertinent information in a useful format, ___________. A. provides managers with a means to judge worker performance. B. aids decision makers in analyzing data and in suggesting possible actions. C. provides sufficient information about a situation after it occurs to be able follow its path of occurrence. D. provides consumers with information concerning why the product or service is useful to them. 8. Marketers usually decide whether to conduct a marketing research study internally or through an outside organization based on ___________. A. the cost involved in doing it. B. where the greater expertise resides, regardless of the cost. C. the nature of the study. Whether you do it yourself or use an outside supplier depends on what needs to be done. D. the amount of time it is expected to take to complete the work. 9. Amantle Mafoko is a marketing specialist who has recommended that one of her clients focus its efforts on profitably satisfying only one market segment. This strategy is called A. niche marketing. B. one stop marketing. C. undifferentiated marketing. D. people marketing. 10. What interactive medium might help micro marketers boost the effectiveness of their strategy by tracking specific demographic and personal information and communicating directly to individuals who are most likely to buy that product? A. customized direct mail packages B. the internet C. personalized telemarketing messages D. fax marketing 11. The purpose of conducting market segmentation and market opportunity analysis in the second stage of the market segmentation process is to ___________. A. identify the specific members of each segment to be able to contact each of them directly. B. determine the level of resources that must be committed to each segment. C. produce a forecast of market potential within each segment. D. design marketing strategy and tactics to reinforce the firm's image. 12. Customer relationship management is ___________. A. the defining concept that identifies communication between the parties to a transaction. B. a process used to retain customers when purchases are based on low price or convenience. C. best used when the seller has infrequent customer contact. D. the combination of strategies and tools that drive relationship programs, reorienting the entire firm to a concentrated focus on satisfying customers. 13. If internal marketing is to be successful, employees must not only be informed about company goals and strategies, they must also be ___________. A. carefully supervised and strongly disciplined if they make mistakes. B. taught to compete with each other for promotions and raises. C. given the necessary tools to address customer requests and problems in a timely manner. D. prepared to give up family time and vacations on short notice. 14. If internal marketing is to be successful, employees must not only be informed about company goals and strategies, they must also be ___________. A. carefully supervised and strongly disciplined if they make mistakes. B. taught to compete with each other for promotions and raises. C. given the necessary tools to address customer requests and problems in a timely manner. D. prepared to give up family time and vacations on short notice. 15. In developing a pricing strategy, the service marketer need NOT consider which of the following? A. cost of production of the service. B. the demand for the service. C. packaging regulations. D. marketing and administrative costs. 16. Consumer shopping products can be classified as homogeneous or heterogeneous. It would be true to say that ___________. A. heterogeneous products are relatively undifferentiated: one brand is perceived as much the same as another. B. price and value issues are not relevant for either homogeneous or heterogeneous products. C. price and value are important factors for homogeneous products; style, color, and fit are important in heterogeneous products. D. homogeneous products are shopping products, and heterogeneous products are really specialty products. 17. A new alarm clock has been developed that looks conventional but gives the owner the choice of being wakened to the music of Bach, a selection of bird calls, the sound of a cannon firing, or the crash of lightning. The best definition and classification for this alarm clock is as a(n) ___________. A. shopping product; when people are looking for an alarm clock, they want to compare features and benefits among several models. The special features are not obvious. B. shopping product; due to its unique - some would even say unusual - and highly visible characteristics, consumers will prize this brand. C. specialty product; because few retailers will be carrying this item, most consumers will travel a great distance to purchase it. D. specialty product; even though the product does not have a well-known brand name, it is a specialty item. 18. That a firm with a broad product line can usually market its products directly to retailers or business users since its own sales force can offer a variety of products reflects an ___________. A. objective set by many firms to enhance their survivability. B. organizational factor that affects the choice of a channel of distribution. C. unusual capacity possessed by many firms to avoid the use of marketing channels at all. D. advocacy position taken by many firms to press their products on the public 19. The increase in media options provides _______ ways to give consumers product information. It can also _______ information overload. A. more; decrease. B. more; increase. C. fewer; decrease. D. fewer; increase 20. The new pricing strategy that has emerged in recent years that emphasizes the benefits a product provides in comparison to the price and quality levels of competing offerings is called ___________. A. benefits maximization. B. head-on pricing. C. prestige pricing. D. value pricing.