Question 1

Which of the following best describes a competitor with an ability to develop new products?

Accepted Answer

A competitor with an ability to develop new products is considered a serious long-term threat in a market. This is because they have the potential to disrupt the current market landscape and attract customers away from existing products. They have the ability to continually innovate and stay ahead of the competition, which can make it difficult for other companies to keep up.

Question 2

With reference to a SWOT analysis,the letter 'T' in the word SWOT stands for:

Accepted Answer

The letter 'T' in the word SWOT stands for threats. Threats refer to external factors or situations that can negatively affect an organization's performance or viability. These may include changes in the market, economic conditions, competition, government policies, and natural disasters. Identifying potential threats through a SWOT analysis allows organizations to develop strategies to mitigate or avoid their impact.

Question 3

A typical marketing planning horizon is:

Accepted Answer

A typical marketing planning horizon is one year, as this allows for adequate time to analyze market trends, develop strategies, and execute tactics to achieve marketing goals. While shorter or longer planning horizons may be appropriate for certain industries or circumstances, one year is generally considered the standard.

Question 4

Which of the following primary sources is excellent in determining competitor sales pitches,pricing,and other aspects of their activity?

Accepted Answer

Sales force and customers can provide valuable insights into competitor sales pitches, pricing, and other aspects of their activity as they are often in direct contact with them and may even hear their pitches firsthand. Additionally, customers may be able to provide feedback on the strengths and weaknesses of a competitor's product or service.

Question 5

While searching information about the market,it is convenient to begin the search with this source of information.Identify it.

Accepted Answer

Internal sources are often the most convenient starting point for market research because they are readily accessible and can provide a wealth of information about a company's current market position, past sales data, customer feedback, and more.

Question 6

Which of the following companies is most likely to be a threat to increasing sales or share in the short term?

Accepted Answer

The answer of Which of the following companies is most...

Question 7

A casual examination of which of the following secondary sources of information shows that companies disclose a good deal of information about their new products,areas of emphasis,job qualifications and standards,new plant or facility locations,and other information?

Accepted Answer

Help-wanted ads often contain detailed information about job qualifications, company focus areas, and sometimes even new locations or expansions, as they aim to attract suitable candidates.

Question 8

Which of the following statements is true regarding scenario planning?

Accepted Answer

The answer of Which of the following statements is true...

Question 9

Sales promotion activities will be tracked by which area of an organizations marketing mix?

Accepted Answer

Sales promotion activities are a part of the promotional mix of an organization, which falls under the communication aspect of the marketing mix. The other elements of the marketing mix include product or service capabilities, price, and distribution.

Question 10

With the help of which of the following,a marketing manager can assess competitors' core strategies ?

Accepted Answer

By studying the competitors' marketing communications, a marketing manager can analyze the messages, tactics, and channels they are using to reach their target audience. This can provide insights into their core strategies, such as their positioning, pricing, promotions, and distribution. Talking to employees or customers may also provide useful information, but it may be biased or incomplete. Government data sources may provide macro-level trends, but they may not reveal specific competitor strategies.

Question 11

Which of the following is a good example of primary source of information?

Accepted Answer

Sales force and customers are examples of primary sources of information because they are first-hand accounts from individuals who have direct knowledge or experience with a product or service.

Question 12

For industrial products and services,which of the following sources of information is considered to be useful?

Accepted Answer

For industrial products and services, the company's own sales force is often considered to be a valuable source of information. This is because the sales force interacts with customers and understands their needs and preferences, providing insights that can inform product development and marketing strategies. Information related to coupon usage is more relevant for consumer products, while media advertising and advertising agencies may be useful for both consumer and industrial products, but are not the most specific or targeted sources of information for industrial products.

Question 13

Which of the following is the biggest of all subscription-based information services?

Accepted Answer

DIALOG is a well-known provider of online databases and one of the first subscription-based information services. It offers access to over 100 databases covering various subjects such as business, science, and engineering. It is widely considered to be the largest and most comprehensive information service available, making it the best choice for this question. Yahoo and America Online (AOL) are internet service providers and content platforms, while Microsoft is a software and technology company that offers various products and services, but none are solely focused on subscription-based information services.

Question 14

________ was invented by John von Neumann and Oskar Morgenstern to account for the interdependence of economic factors and it is a mathematical approach that is used to anticipate a competitor's likely future strategies.

Accepted Answer

Game theory was invented by John von Neumann and Oskar Morgenstern. It is used to analyze and anticipate the future strategies of competitors in an interdependent economic situation. The other options, such as regression analysis, linear regression, and conjoint analysis are also mathematical approaches, but they are not specifically designed for predicting competitors' strategies in interdependent settings.

Question 15

Which of the following best describes a sophisticated,long-term version of the simulation process?

Accepted Answer

Scenario planning involves creating and analyzing various possible scenarios for the future, considering different factors that could impact the outcome. This is a long-term, sophisticated method of simulation that considers multiple variables and uncertainties. Conjoint analysis, multidimensional scaling, and regression analysis are all useful research techniques, but they do not necessarily involve simulation or a long-term perspective.

Question 16

Which of the following is a good source of secondary information?

Accepted Answer

Annual reports can provide a wealth of secondary information about a company's financial health, performance, and goals. Customers, the company sales force, and employees are considered primary sources of information as they directly interact with the company.

Question 17

When a marketing manager conducts a competitive assessment of his own business,which of the following contains a summary of the different components of this analysis?

Accepted Answer

A SWOT analysis is the best choice for conducting a competitive assessment of a business as it includes an analysis of the company's strengths, weaknesses, opportunities, and threats, which helps in identifying the areas where the company needs to improve and where it has a competitive advantage compared to its competitors. The other options, such as the BCG matrix, perceptual mapping, and conjoint analysis, are useful in analyzing the company's product portfolio, customer perceptions, and pricing strategy, respectively, but do not provide a comprehensive analysis of the company's competition.

Question 18

For consumer products,which of the following is best in tracking a competitor's segmentation and target market strategy.?

Accepted Answer

Media advertising is a direct reflection of a company's marketing strategy, showcasing how they position their products and target specific customer segments.

Question 19

A SWOT analysis focuses on which of the following?

Accepted Answer

The answer of A SWOT analysis focuses on which of...

Question 20

Which of the following is most likely to be an objective of only a government-controlled firm?

Accepted Answer

Maintaining employment is often a key objective of government-controlled firms, as they are often committed to providing stable employment opportunities and supporting the national workforce. Private firms, on the other hand, may prioritize profit maximization or increasing market share, which could potentially involve layoffs or outsourcing.

Quiz 6: Market Structure and Competitor Analysis