Reference no: EM133176655
1. Which of the following statement is True?
A. Marketing is advertising and promotion products/services.
B. Marketing is not required in profit making companies.
C. Marketing is designed to satisfy customer's needs and wants.
D. Marketing is convincing people to buy products/services that they otherwise do not need.
2. Corporate mission, vision and values statements provide three of the following, which is NOT true?
A. A market-oriented mission statement defines about satisfying basic customer or client's needs.
B. An organisation's mission statement expresses the desired destination of the organisation within a certain time frame.
C. A vision for the organisation's future
D. Values that shape the organisation's actions
3. STEEP analysis is used for:
A. Product adoption analysis
B. Customer analysis
C. Marco environmental analysis
D. Competitor analysis
4. Which of following strategic organisational documents can be used to identify organisational directions and targets?
A. Annual reports
B. Company policy
C. Customer service charter
D. Strategic marketing plans
E. All of the above
5. In developing an ethical decision making process which of the following steps is incorrect?
A. Recognise an ethical issue and understand the problem
B. Get the facts and create scenarios
C. Ensure compliance by inserting penalties
D. Act the outcome in a good and fair way
6. A SWOT analysis is...
A. assessing the competitor's strengths and weakness, and identifying opportunities and threats.
B. assessing the organisation's strengths and weakness, and identifying opportunities and threats in the organisation environment.
C. assessing the markets strengths and weakness, and identifying opportunities and threats.
D. None of the above
7. Which of the following statement is True?
A. Ethic is about legal evaluation of decisions
B. Corporate social responsibility is to maximise the organisation's positive impact on society.
C. Codes of conduct are formalised rules and standards made under law.
D. It is not necessary for the organisation to put ethical values into its culture.
8. Which of following steps is NOT included in identifying the organisation's strategic direction?
A. Reviewing organisational mission, vision, purposes and values.
B. Conducting the situational analysis report to identify what affect organisation's capacity to pursue its mission and goal.
C. Developing marketing strategies.
D. Holding meets to get advice / feedback from different levels of staffs.
9. The Ecological Environment does not include one of the following:
A. Shortages of nature resource
B. New technology
C. Weather patterns
D. Environmental pollution
10. Which of the following indicators is a financial measure for assessing marketing performance?
A. Costs and revenue incurred by marketing decision
B. Customer satisfaction levels
C. Sales volume (number of units or quantify)
D. Return on equity
E. Both C and D
11. Which of the following items would NOT normally be considered in Quality Assessment?
A. The primary operating characteristics or benefits of a product.
B. Return on Investment.
C. Reliability-the probability of a product failing within a specific time period.
D. The speed of delivering a product.
12. Choose the correct statement about reviewing marketing performance.
A. Financial results are the only real results that need to be measured.
B. Assessment of marketing performance in qualitative areas is less important than it is quantitative areas.
C. Take corrective action helps an organisation in a better position for the future.
D. An analysis of previous marketing and positioning strategy could only address the competitor's strategies.
13. The purpose of an organisation to evaluate its marketing performance against previous objectives and targets is to...
A. show its strengths to competitors.
B. make improvement of poor marketing strategies.
C. check where is previous marketing strategies up to?
D. to overcome its internal weakness.
14. Which of the following requirements do not apply to identify marketing opportunities through seeking new ideas, which of the following do not apply?
A. New ideas can only be identified through market survey.
B. New ideas should meet the market needs.
C. New ideas should be identified by meeting criteria of new product profitability.
D. New ideas should meet business needs.
15. Which of following can be defined as a marketing opportunity?
A. Removal policies of trade barriers
B. Competitor's vulnerabilities
C. A new international market
D. High demand of particular products/services
E. All of the above
16. Which of the following is NOT identified as an external factor when assessing a marketing opportunity?
A. Trade restrictions
B. Life style changes
C. Low cost of raw material
D. Rate of technological change
E. Economic growth
17. SMART marketing objective means...
A. Special, Meaningful, Attainable, Realistic, and Timely
B. Specific, Measurable, Attainable, Relevant, and Time-bound
C. Significant, Motivational, Achievable, Results-focused, and Time-boxed
D. Simple, Manageable, Actionable, Resourced, and Time-framed
18. Which of the following is NOT defined as key internal stakeholders who help to develop marketing objectives?
A. Finance staff
B. Marketing manager
C. Boarder of director
D. Intermediaries
E. None of the above
19. Which is the right statement about short term and long term marketing objective?
A.Short term and long term marketing objective do not link to each other.
B. 'Increasing sales from developing a new product line within 2-3 years' can be defined as a short term marketing objective.
C. Long term marketing objectives usually considers the long term implications of short term marketing objectives and strategies.
D. Long term marketing objectives is focusing on the future and it can be unrealistic.
20. In order to protect against certain natural hazards, an oil company purchases dual trigger insurance from an insurance company. In this case, what strategy does the oil company use to reduce its risks?
A. Risk avoidance
B. Risk reduction
C. Risk transfer
D. Risk retention