1. According to the marketing and promotions process model, the marketing process begins with the: A. development of the marketing mix. B. development of a marketing strategy and analysis. C. development of the promotional mix. D. determination of the target market. E. establishment of marketing objectives.
2. A(n) _____ is a document that evolves from an organization’s overall corporate strategy and serves as a guide for specific marketing programs and policies. A. strategic marketing plan B. integrated marketing communications plan C. situation analysis D. opportunity analysis E. competitive plan
3. _____ is a detailed assessment of the current marketing conditions facing the company, its product lines, or its individual brands. A. Strategic marketing plan B. Integrated marketing communications plan C. Situation analysis D. Opportunity analysis E. Competitive plan
4. _____ are defined as external areas where there are favorable demand trends, customer needs and wants are not being satisfied, and where a company thinks it can compete effectively. A. Market opportunities B. Market segments C. Competitive advantages D. Market strengths E. Market plans
5. To reach tweens (8-12 year olds), Jell-O brand gelatin marketers introduced X-treme Jell-O in wild berry, green apple, and watermelon flavors. The ads describe the gelatin flavors as “Jell-O with an attitude” because these fruit flavors “will bite you back.” Jell-O has defined tweens as: A. part of an undifferentiated market. B. aggregated market. C. a response-stimulus market. D. the mass market for gelatin. E. a market segment.
6. China is the world’s second-largest beer market after the U.S. It is also one of the fastest growing with annual growth of 10 percent. Anheuser-Busch responded to this _____ in China when it established Budweiser Wulhan International Brewing in central China. There it brews Budweiser and Budweiser Ice which are sold to the local market. A. market opportunity B. market aggregation C. competitive advantage D. market strength E. market threat
7. Anyone who has ever attended a state fair understands how complicated the ticketing system can be. Attendees buy a number of tickets and then turn them in to various ride operators. One ride may require three tickets, another five, and another two. The system was complicated for workers and for consumers. A company named Funtastic has developed a SmartCard that is purchased at the ticket booth for any amount customers want to spend. Each ride requires one swipe of the card, and the amount of the ride is deducted electronically from the card’s total. Funtastic has recognized a: A. market opportunity. B. market segment. C. competitive advantage. D. market strength. E. market threat.
8. There are many different types of medicines for relieving allergy symptoms, and there are several that offer 24-hour relief, but only Alavert comes in a quick-dissolving form that can be easily swallowed without water. The maker of Alavert hopes the fact that it dissolves and enters the system more quickly than other brands will create a: A. market aggregation. B. market segment. C. competitive advantage. D. market strength. E. market threat.
9. Offering quality products that command a premium price, providing superior customer service, having the lowest production costs and lower prices etc. are ways of: A. achieving competitive advantage. B. market segmentation. C. mass marketing. D. exploiting market opportunity. E. undifferentiated marketing.
10. _____ is something unique or special a firm possesses or does that gives it an edge over its competitors. A. Brand quality B. Brand equity C. A competitive advantage D. Brand power E. A market opportunity