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Chapter 11. Marketing seeks to create and manage profitable customer relationships by delivering _ to customers.a. competitive pricesb. superior valuec. superior serviced. superior promotione. product assortment(Answer: b; p. 4; )2. _ is managing profitable customer relationships.a. Managementb. Controlc. Marketingd. Human resourcese. Customer service(Answer: c; p. 4; )3. _ is managing profitable customer relationships.a. Managementb. Controlc. Marketingd. Human resourcese. Customer service(Answer: c; p. 4; )4. As a new assistant marketing manager trainee, you learn in an orientation meeting that _ are the form human needs take as they are shaped by culture and individual personality.a. wantsb. demandsc. self-conceptsd. desirese. icons(Answer: a; p. 6; )5. The difference between customer value and customer satisfaction is that value is the difference between the values the customer gains from owning and using a product and the _.a. cost of delivery of the productb. cost of obtaining the productc. cost of competing productsd. cost of the lost experiencee. all of the above(Answer: b; p. 13; )6. Marketing consists of actions taken to build and maintain desirable _ with target audiences involving a product, service, idea, or other object.a. exchange transactionsb. exchange relationshipsc. exchange processesd. exchange privilegese. exchange communication(Answer: b; p. 7; )7. _ means managing markets to bring about profitable exchange relationships by creating value and satisfying needs and wants.a. Sellingb. Promotingc. Marketingd. Relationship marketinge. Market segmentation(Answer: c; p. 5; )8. The federal government finds it necessary at times to limit demand by reducing the number of customers or to shift their demand temporarily or permanently. Name the term for this type of action.a. debuggingb. deregulationc. demarketingd. gray marketinge. integration(Answer: c; p. 8; )9. The five alternative concepts under which organizations conduct their marketing activities include the production, _, selling, marketing, and societal marketing concepts.a. promotionb. pricingc. distributiond. producte. demarketing(Answer: d; p. 10; )10. Now many companies are beginning to think of _ interests as well as their own customers needs.a. societysb. stockholdersc. investorsd. lenderse. competitors(Answer: a; p. 11; ) 11. The simplest definition of modern marketing is managing profitable customer relationships.(Answer: True; p. 4; )12. The difference between human needs and wants is that needs are states of felt deprivation.(Answer: True; p. 6; )13. At times it becomes necessary to reduce demand for some products and services. When the government tries to reduce smoking of tobacco products, it adds more tax to the products and is practicing demarketing.(Answer: True; p. 8; )14. The selling concept holds that consumers will not buy enough of the firms products unless it undertakes a large-scale selling and promotion effort.(Answer: True; p. 10; ) 15. How do marketers differentiate among needs, wants, and demands?Marketers realize that humans have needs when they are in a state of felt deprivation. These needs take on the form of wants as they are shaped by culture and individual personality. When backed by buying power, wants become demands. Companies research demands and supply the needs that drive them.(p. 6; ) 16. Describe the five marketing management orientations.The production concept holds that consumers will favor products that are available and highly affordable. The product concept holds that consumers will favor products that offer the most in quality, performance, and innovative features. Those who follow the selling concept hold that consumers will not buy enough of the firms products unless it undertakes a large-scale selling and promotion effort. Using the marketing concept means that achieving organizational goals depends on knowing the needs and wants of target markets and delivering satisfaction better than competitors do. The societal marketing concept holds that the firm should determine the needs, wants, and interests of target markets.(p. 10; ) Chapter 2 1. Marketing planning at your firm occurs at what levels?a. business unit; marketb. business unit; productc. product; marketd. business unit; product; markete. business unit; financial unit; market(Answer: d; p. 37; )2. What does a market-oriented mission statement define about the business?a. satisfying basic customer needsb. satisfying basic supplier needsc. satisfying basic stockholder needsd. satisfying basic owner needse. satisfying basic partnership needs(Answer: a; p. 37; )3. Successful organizations base their missions on their _.a. distinctive competenciesb. strategic plansc. long-term goalsd. values statementse. value propositions(Answer: a; p. 38; )4. The companys mission needs to be turned into detailed supporting objectives for _.a. successb. each level of managementc. corporate needsd. stockholder wealthe. customer growth(Answer: b; p. 38; )5. A strategic plan has this item or items following its marketing objectives.a. budgetary requirementsb. target market selectionc. research plansd. marketing strategiese. marketing mix(Answer: d; p. 37; )6. The firm you work for has decided to use the Boston Consulting Groups (BCGs) approach to classify its business units. Upon what is the approach based?a. most profitable unitsb. growth-share matrixc. customer retentiond. cost-benefitse. customer satisfaction(Answer: b; p. 40; )7. Which of these is not one of the common strategies of the BCG approach?a. buildb. holdc. harvestd. diversitye. none of the above(Answer: d; p. 40; )8. A common practice among marketers is to identify and develop new markets for their existing products. This practice is called _.a. market developmentb. product developmentc. market penetrationd. market skimminge. dual adaptation(Answer: a; p. 41; )9. Marketing plays a key role in a companys strategic planning. Which of the following does marketing provide?a. guiding philosophyb. inputsc. strategiesd. objectivese. all of the above(Answer: e; p. 44; )10. Marketing plays a key role in a companys strategic planning. Which of the following does marketing provide?a. guiding philosophyb. inputsc. strategiesd. objectivese. all of the above(Answer: e; p. 44; ) 11. When your organization is involved in the task of selecting an overall company strategy for long-run survival and growth, it is conducting strategic planning.(Answer: True; p. 37; )12. Mission statements should be realistic and general in nature.(Answer: False; p. 38; )13. Mission statements should be realistic and general in nature.(Answer: False; p. 38; )14. Each companys department can be thought of as a link in the companys strategic plan.(Answer: False; p. 44; ) 15. Compare the traditional four Ps to the current four Cs.Traditionally, the four Ps were created from the marketers viewpoint. Today, the four Cs are created from the consumers viewpoint. Product now is viewed as customer solution. Price is really customer cost. Place equates to convenience, and promotion is actually nothing more than communication. Customers buy value and solutions to their problems. Marketers should first think through the four Cs, and then build the four Ps on that platform.(p. 51; )16. Explain the role of the target market as the marketer attempts to build the marketing mix.Depending on the demographic, psychographic, and/or geographic characteristics of the target market, the marketer will develop the product, set the right price, determine the best way to promote, and select the best place to distribute the product. All four elements, the four Ps, create a “package” that is as attractive as possible to the target market. As characteristics of the target market change, the marketing mix should also be altered.(p. 50; ) Chapter 3 1 All of the groups within a company are called the _.a. cultureb. diversityc. internal environmentd. climatee. range(Answer: c; p. 65; )2 .These firms help companies to stock and move goods from their points of origin to their destination. a. financial intermediariesb. physical distribution firmsc. marketing service firmsd. resellerse. modified rebuyers(Answer: b; p. 66; )3.Name the market that buys goods and services for further processing or for use in the production process. a. businessb. resellerc. wholesaled. consumere. retail(Answer: a; p. 66; )4.Marketers need to know that almost everyone in this country is a native. Which country is it?a. Chinaa. Boliviab. Japanc. Koread. United States(Answer: c; p. 77; )5.Find the group of expenses that use up most household income.a. food, housing, retirement planningb. housing, insurance, taxesc. food, housing, transportation d. housing, taxes, transportation e. food, travel, electronics(Answer: c; p. 81; )6.One of the major concerns for marketers about the natural environment is the _.a. number of protestors against misuseb. shortages of raw materialsc. increases in recyclingd. offshore oil exploratione. none of the above(Answer: b; p. 81; )7.Which of the following represents the most dramatic force shaping a marketers destiny?a. technological environmentb. natural environmentc. legal-political environment d. deregulatione. partnership marketing(Answer: a; p. 82; )8.New technologies create new opportunities and new _. a. productsb. servicesc. marketsd. means of financing purchasese. headaches(Answer: c; p. 82; )9.Marketers will encounter legislation to regulate business activity in the United States at which of these levels?a. local b. nationalc. internationald. statee. all of the above(Answer: e; p. 87; )10.A societys basic values, perceptions, preferences, and behaviors are found in its _ environment.a. socialb. culturalc. socio-culturald. cultural-economice. natural(Answer: b; p. 89; ) 14.The microenvironment consists of larger societal forces that affect the microenvironment, such as demographic, economic, political, and cultural forces. (Answer: False; p. 65; )15.The macroenvironment consists of the factors close to the company that affect its ability to service its customers, such as suppliers, customer markets, competitors, and publics. (Answer: False; p. 65; )16.Your accounting department must measure revenues and costs to help the marketing department know how well it is achieving its objectives.(Answer: True; p. 65; )17.Consumer organizations such as environmental and minority groups may question a companys marketing decisions. This type of public is called the local public.(Answer: False; p. 68; ) 22.Distinguish among the five types of customer markets. Consumer markets consist of individuals and households that buy goods and services for personal use. Business markets buy goods and services for further processing or for use in their production process. Reseller markets buy goods and services to resell at a profit. Government markets are made up of government agencies that buy goods and services to produce public services or transfer the goods and services to others who need them. International markets consist of these buyers in other countries, including consumers, producers, resellers, and governments.(p. 66; ) Chapter 41 An MIS consists of people, equipment, and procedures to gather, sort, _, evaluate, and distribute information to marketing decision makers.a. testb. test marketc. analyzed. critiquee. assess(Answer: c; p. 100; )2Marketers must weigh carefully the costs of additional information against the _ resulting from it.a. usesb. benefitsc. knowledged. rewardse. cost(Answer: b; p. 102; )3 Your competitor may reveal intelligence information through which of these sources of information?a.annualb.trade show exhibitsc.Web pagesd.press releasese.all of the above(Answer: e; p. 104; )4 The objective of _ research is to gather preliminary information that will help define the problem and suggest hypotheses.a.descriptiveb.exploratoryc.causald.correctivee.descriptive and exploratory(Answer: b; p. 106; )5 The research plan outlines sources of existing data and spells out the specific research approaches, contact methods, _, and instruments that researchers will use to gather new data.a.personnelb.sampling plansc.budget requirementsd.all of the abovee.none of the above(Answer: b; p. 106; )6 Which form of data can usually be obtained more quickly and at a lower cost?a.primaryb.censusc.secondaryd.syndicatede.tertiary(Answer: c; p. 108; )7.Primary data must be relevant, current, unbiased, and _.pleteb.accuratec.inexpensived.collected before secondary datae.valid(Answer: b; p. 109; )8.This method of research can obtain information that people are unwilling or unable to provide.a.observationb.focus groupsc.personal interviewsd.fax surveyse.questionnaires(Answer: a; p. 110; )9.One of the following is NOT a current survey research method. It is contact by _.a.online useb.mailc.telephoned.faxe.none of the above(Answer: d; p. 113; )10.Which of the

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