Marketing Management
Practice Test
1.
A concept includes
a.
a description of a new product
b.
the features of a new product
c.
the benefits of a new product
d.
all of the above
2.
When a company focuses on short-term profits without regard for a product’s long-term success, they are practicing a strategy known as
a.
harvesting
b.
flanking
c.
differentiation
d.
dogging
3.
A cross-functional business team responsible for developing (but not managing) a new product is
a.
a strategic business unit
b.
a venture team
c.
a vertical team
d.
development team
4.
A method for classifying a business unit’s potential based on the market’s size, growth rate, profitability, cyclical nature, and related measures is
a.
market segmentation
b.
industry attractiveness
c.
business strength
d.
organizational classification
5.
A psychographic market segment of customers who have high income, are work-oriented, and are politically conservative is
a.
achievers
b.
actualizers
c.
believers
d.
fulfilleds
6.
The Category Development Index is the
a.
comparison of a business’s market share with its competitors in a category
b.
percentage of total national category sales in a geographic area divided by the percentage of households living in that area
c.
a description of customer migration patterns within a category
d.
representation of the relationship between volume and cost
7.
Any efforts a company makes to win back a customer after a service failure are known as
a.
recovery
b.
quality monitoring
c.
positioning
d.
customer intimacy
8.
Ricardo sold the pool servicing arm of his company in order to focus his resources on his landscape gardening business. This is known as
a.
decoding
b.
differentiation
c.
diversification
d.
divesting
9.
A multinational corporation that operates as though the entire world were a single market is described as a
a.
multicultural company
b.
multidomestic company
c.
global company
d.
subsidiary company
10.
Antonio made a prototype of the new MagnaWidgetizer and showed it around the office to see what people thought. This was a form of
a.
alpha testing
b.
beta testing
c.
market research
d.
actualization
