Question 1

A marketing plan should contain specific information like costs and sales forecasts, but not background information about customers, competitors, or the company's resources.

Accepted Answer

A marketing plan should contain background information about customers, competitors, and the company's resources in addition to specific information like costs and sales forecasts. This information helps to inform and shape the marketing strategy.

Question 2

A firm usually has more different strategy possibilities than it can pursue, so it must use screening criteria to help eliminate those strategies not well-suited to the firm.

Accepted Answer

This statement is true. A firm typically has limited resources and capabilities, so it must carefully evaluate and screen potential strategies to focus on those that are most feasible and aligned with the firm's goals and strengths.

Question 3

A marketing manager who is willing to spend enough on persuasive promotion can usually get consumers to buy anything the company chooses to produce.

Accepted Answer

While persuasive promotion can certainly influence consumer behavior, there are many other factors that also play a role, such as product quality, price, and competition. Consumers ultimately have the power to decide what they want to buy, and if a product doesn't meet their needs or expectations, no amount of promotion can force them to buy it.

Question 4

Advertising is probably the most criticized of all micro-marketing activities.

Accepted Answer

Advertising is often criticized for being manipulative, deceptive, and contributing to consumer culture and materialistic values. Many people argue that it promotes unrealistic beauty standards, perpetuates harmful gender stereotypes, and can have negative impacts on society and the environment.

Question 5

The letters in "S.W.O.T. analysis" are an abbreviation for the first letters of the words "strengths, weaknesses, opportunities, and threats."

Accepted Answer

The statement is true; S.W.O.T. analysis stands for strengths, weaknesses, opportunities, and threats.

Question 6

Firms can manipulate consumers to buy anything the company chooses to produce.

Accepted Answer

Firms can influence and persuade consumers to buy their products, but they cannot force them to buy anything. Ultimately, consumers have the power to make their own purchasing decisions.

Question 7

A S.W.O.T. analysis is not necessary if the firm is considering entering an established market that is already served by competitors.

Accepted Answer

A S.W.O.T. analysis is still necessary for a firm to assess their strengths, weaknesses, opportunities, and threats in relation to the existing competitors in the market. The analysis can help the firm identify potential advantages and disadvantages, and develop strategies to differentiate themselves from competitors.

Question 8

A good marketing plan will work well throughout the different stages of the product life cycle.

Accepted Answer

The answer of A good marketing plan will work well...

Question 9

The letters in "S.W.O.T. analysis" are an abbreviation for the first letters of the words "special weapons or tactics."

Accepted Answer

The letters in "S.W.O.T. analysis" stand for Strengths, Weaknesses, Opportunities, and Threats, which are used to analyze a business or organization.

Question 10

Blending the four Ps is easy since fully understanding the needs and attitudes of a target market is a straightforward process.

Accepted Answer

Blending the four Ps (Product, Price, Place, Promotion) is not easy since it requires a deep understanding of the target market and their needs, attitudes, behavior, and preferences. This involves conducting market research, analyzing consumer data, and developing appropriate marketing strategies that take into consideration various factors such as the product features, pricing, distribution channels, and advertising messages. Therefore, blending the four Ps is a complex and dynamic process that requires careful planning, execution, and evaluation in order to achieve the desired marketing objectives.

Question 11

The text argues that the plight of the homeless is a result of the forces of market competition in our market-directed economies.

Accepted Answer

The answer of The text argues that the plight of...

Question 12

A S.W.O.T. analysis identifies the "special weapons or tactics" used by the competitor in a product-market that has the most profitable marketing mix.

Accepted Answer

A SWOT analysis actually stands for Strengths, Weaknesses, Opportunities, and Threats, and it is a tool used to evaluate a company's internal and external factors that may impact its success. While it is used to identify tactics and strategies, it does not refer to "special weapons or tactics" used by competitors in a particular product-market.

Question 13

Advertising can increase demand for the product resulting in economies of scale in manufacturing, distribution, and sales.

Accepted Answer

Advertising increases awareness and desire for a product which can lead to increased sales and production. This increased demand can result in economies of scale as production is increased to meet the demand, which can lower the cost per unit of the product. Lower costs can lead to increased profits and/or lowered prices, making the product even more attractive to consumers.

Question 14

People have always been materialistic, even in the most primitive societies.

Accepted Answer

Anthropologists and historians have found evidence of material possessions and trade dating back to prehistoric times, indicating that humans have always placed value on material goods.

Question 15

According to the text, the proper function of marketing is to persuade consumers to buy what firms want to sell.

Accepted Answer

The proper function of marketing is to understand the needs and wants of consumers and create products and services that fulfill those needs and wants, and then persuade and communicate with consumers about the benefits and value of those offerings. It is not about convincing consumers to buy what firms want to sell without regard for their needs and preferences.

Question 16

A marketing plan usually spells out the time schedule for a marketing strategy as well as the time-related details.

Accepted Answer

A marketing plan typically includes a timeline that maps out the implementation of marketing tactics and the expected timing of key milestones, such as product launches or campaign rollouts. This helps ensure that the marketing strategy is executed in a timely and coordinated manner.

Question 17

Monopolistic competition may result in high costs--and therefore it does not do a good job of serving consumers the way they want to be served.

Accepted Answer

Monopolistic competition can lead to innovation and product differentiation, which can benefit consumers. While it may result in higher costs for firms, this does not necessarily mean that consumers are not being served the way they want to be. Ultimately, consumer preferences and willingness to pay will determine whether a firm's products are successful in a monopolistically competitive market.

Question 18

S.W.O.T. analysis is based on the idea that one of the best ways to develop a strategy is to identify and copy the marketing "strategies, weapons, outlook, and tactics" of the firm's most effective competitor.

Accepted Answer

SWOT analysis is not about copying the marketing strategies of competitors. It is a tool used to evaluate the internal strengths and weaknesses and external opportunities and threats of a company in order to develop a strategic plan.

Question 19

The job of integrating the four Ps strategy decisions is the responsibility of the company controller since the money to do so much must be available.

Accepted Answer

The job of integrating the four Ps strategy decisions is typically the responsibility of the marketing department, not the company controller. While budget considerations are certainly part of the implementation process, the overall coordination and execution of the marketing strategy falls under the purview of marketing professionals.

Question 20

A good S.W.O.T. analysis helps a manager focus on a strategy that takes advantages of the firm's opportunities and strengths while avoiding its weaknesses and threats to its success.

Accepted Answer

A SWOT analysis is a strategic tool used by managers to identify the internal strengths and weaknesses of the organization as well as the external opportunities and threats in the market. This analysis helps the managers focus on a strategy that aligns with the strengths and opportunities while minimizing the impact of weaknesses and threats.

Quiz 21: Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges