Chapter 1—An Overview of Marketing - California State ...ecarter2/CSUB.MKTG.300 Summer 07/Actual...

ACTUAL “AT-HOME” MARKETING MANAGEMENT CONCEPT EXPOSURE EXAM[MKTG.300; Dr. Carter; Summer 2K7]

*** 20 POINTS TOTAL ***** 50 fill-in-the-blank items – 10 questions from each chapter [5 points]

** 10 Essay Items – Complete 2 of the 5 questions presented from each chapter [15 Points]

Instructions:

A. Exam Access and Submission(1) Download Exam to your own computer file and drive(2) Respond to question items directly on this exact Exam form – Type “fill-in-the-blank” responses directly

beneath the question and NOT in the blank space(3) Save completed Exam form with your responses to your own computer file and drive(4) E-mail Prof. Carter the saved Exam form with your responses as a Word document attachment BY 10:15pm

MONDAY AUGUST 6th.(5) Class does not meet Monday August 6th to allow dedicated time for Exam completion(6) I will respond by Tuesday @ 10pm to confirm receipt of your exam

B. Exam Completion and Question Response (1) Respond to each exam question fully based on the exact correct answer presented in both the textbook chapters and Exam Pool Items document

(2) Fill-in-the-blank items must match the correct answer exactly, with no partial credit(3) Essay items must include the exact correct answer content, as well as your own original explanation or

example to justify knowledge of the particular concept(s).(4) Essay item response length must be a minimum of twice the content presented for the correct answer in the

Exam Pool Item document. However, there is no maximum response length.(5) Partial credit will be given on essay items(6) All responses must represent your individual knowledge to avoid Exam penalties or course grade sanctions

in accordance with the CSUB Academic Integrity Policy. Office Hour oral exam sessions may be scheduled with particular students to validate question response authorship.

Chapter 1—An Overview of Marketing

FILL-IN-THE-BLANK ITEMS – Complete ALL 10 Items

1. In order for exchange to occur:

2. A company that has a market orientation and adheres to the marketing concept does NOT:

3. The marketing concept includes a goal orientation to remind managers that:

4. _____ gives customers the feeling their concerns are being addressed and at the same time gives employees the feeling their expertise matters to management.

5. _____ is defined as the relationship between benefits and the sacrifice necessary to obtain those benefits.

6. _____ is a strategy that entails forging long-term partnerships with customers.

7. Which of the following measures would be the best indicator of whether your organization's personnel have a customer orientation?

8. Redefining the business mission of a mattress manufacturer as "a good night's sleep," rather than stating the mission as "the manufacture of high-quality mattresses," will:




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9. What is the fundamental objective of most businesses?Chapter 1—An Overview of Marketing

FILL-IN-THE-BLANK (continued)

10. CircusesAs recently as twenty years ago circuses came to town with tents, animals, clowns, and other performers. An advance man arrived about two weeks before the circus actually arrived, covered the community with posters, and gave out free tickets to schoolchildren. If the advance man had done a good job, when the circus arrived and opened its tent doors, three hundred to six hundred people would fill its seats. When the largest circus organizations merged, the newly formed Ringling Bros. and Barnum & Bailey's Greatest Show on Earth began performing in 4,000-seat arenas. Attendance, however, has stagnated in recent years. People have stopped going to the circus because they miss the circus tent and the close intimate atmosphere it created. The newest thing in circuses is a return to the tent atmosphere with an emphasis on the types of entertainment that were popular years ago. Antique circus wagons, calliope music, and cotton candy are replacing the exotic animals and the prima donna performers. To satisfy the needs of this new audience, the tent circus now sells lattes and wine.

10. Refer to Circuses. To exhibit a societal marketing orientation, circuses could:




Instructions:









ESSAY ITEMS -- Choose any TWO of the five questions below (responses must be a minimum as twice as long as content presented in Exam Pool Item correct answer, but there is no maximum length limit

1. Explain how marketing is both a philosophy and a set of activities.

2. There are five conditions that must be satisfied for an exchange to take place. However, even if all of these conditions are met, exchange may not necessarily take place. Give an example of a situation in which all conditions are met, but exchange does not take place. Can marketing occur, even if an exchange does not take place? Why or why not?

3. What is the marketing concept? According to the marketing concept, what determines if a sale will actually occur?

4. Four competing philosophies strongly influence the role of marketing and marketing activities within an organization. Name and briefly describe each of these four philosophies.

5. Describe a real company that has a societal marketing orientation.




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Chapter 3—Social Responsibility, Ethics, and the Marketing Environment


1. The four components of the pyramid of corporate social responsibility are:

2. Which of the following statements best describes the typical target market?

3. What is apparently the most difficult external variable for marketing managers to forecast, influence, or integrate into marketing plans?

4. The external environment is a strong influence on a target market and can be a source of _____ for the marketing manager.

5. Consumer preference for low-carb diets has greatly modified the way food is being marketed. This concern with health issues is an example of a(n) _____ factor.

6. A(n) _____ is the practice of choosing goods and services that meet one's diverse needs and interests rather than conforming to a single, traditional lifestyle.

7. _____ are strongly attached to technology, tend to be skeptical consumers, and demand the latest fashion trends in record time.

8. A multicultural society is characterized by:

9. Factors, such as interest rates, inflation, and consumer income that influence the marketing environment, are called _____ factors.

10. The _____ is an agency that prevents the use of unfair methods of competition in commerce.




Instructions:









Chapter 3—Social Responsibility, Ethics, and the Marketing Environment


1. What is environmental scanning? Give an example of an opportunity and a threat that environmental scanning might identify for a suntan lotion company.

2. A recent study of marketing professionals found their ethical judgments were influenced by several factors. List four of these factors. How do these factors contribute to the ethical environment of a marketing organization?

3. Define multiculturalism and discuss its impact on the marketing function.

4. You are a young entrepreneur who has recently received a multimillion dollar research grant for studying ways to improve urban life in the United States. Discuss the difference between basic and applied research, and give specific examples of each type of research your new company will conduct.

5. There are three general categories of federal laws that affect marketing. They are (1) regulation of the competitive environment, (2) regulation of pricing practices, and (3) control of false advertising. Name and briefly describe one federal law that has been created for each category.




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Chapter 2—Strategic Planning for Competitive Advantage


1. _____ is the managerial process of creating and maintaining a fit between the organization's objectives and resources and evolving market opportunities.

2. Which of the following statements about a marketing plan is true?

3. The focus of an organization's mission statement should be on:

4. A _____ is defined as a statement of what is to be accomplished through marketing activities.

5. A _____ is a formal study conducted by an organization to ascertain its current status and capabilities and its future expectations.

6. _____ is a strategy of increasing market share for present products in existing markets.

7. The _____ is a tool for allocating resources among products or strategic business units on the basis of relative market share and market growth rate.

8. A(n) _____ describes and estimates the size and sales potential of market segments of interest to the firm and assesses key competitors in these market segments.

9. The _____ is the unique blend of product, distribution, promotion, and pricing strategies designed to produce mutually satisfying exchanges with a target market.

10. _____ is the process that turns marketing plans into action assignments and ensures these assignments are executed in a way that accomplishes the plans' objectives.




Instructions:









Chapter 2—Strategic Planning for Competitive Advantage


1. What is the difference between planning, strategic planning, and marketing planning?

2. What is marketing myopia? If a movie theater company had a myopic orientation, how might it state its business purpose? If the movie theater company avoided a myopic orientation, how would its business purpose change?

3. What is a SWOT analysis? How does it relate to strategic planning?

4. What is a competitive advantage? What makes a competitive advantage sustainable?

5. Name and describe the three requirements for effective strategic planning




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Chapter 4—Developing a Global Vision


1. Which of the following statements describes one of the benefits of increased global marketing?

2. A(n) _____ is a company that is heavily engaged in global trade and moves its resources, goods, services, and skills across national boundaries.

3. Global marketing standardization:

4. Central to any society is a common set of values shared by its citizens that determines what is socially acceptable. Marketers refer to these values collectively as a country's:

5. Which of the following statements about the political environment is true?

6. A tax levied on the goods entering a country is called a(n):

7. The _____ of trade negotiations created the _____, which replaces GATT. This trade agreement dramatically lowers trade barriers worldwide.

8. Which method of entering the global marketplace would be LEAST risky?

9. _____ is a legal process whereby a firm agrees to let another firm use its manufacturing process, trademarks, patents, trade secrets, or other proprietary knowledge in return for a fee or royalty.

10. U.S. wine producers only export about 14 percent of their total annual production of wine. They would like to sell more to overseas markets, but do not want to tailor their wines to consumers' palates. For example, Californian wines are typically heartier and richer than Europeans like to drink. U.S. wine producers need to adopt a _____ strategy if they hope to reach more of the global market.




Instructions:









Chapter 4—Developing a Global Vision


1. What is the fourth stage of business globalization? Describe companies that are most likely to reach this stage of globalization.

2. What is a market grouping? Describe the best-known market grouping.

3. Global marketers must be careful when considering the demographic characteristics of different countries. Why is total population an insufficient indicator of market potential? What other demographic factors should be considered in addition to or instead of population?

4. An important factor in the global external environment that has become more evident in the past decade is the shortage of natural resources. Choose two different natural resources and describe how shortages of each of these resources affect global trade.

5. Explain the following statement: "The Internet economy is being restrained by the old bricks-and-mortar rules, regulations, and habits."




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Chapter 19—Customer Relationship Management


1. _____ is a company-wide business strategy designed to optimize profitability, revenue, and customer

2. Customer-centric is an internal management philosophy similar to:

3. In a CRM system, _____ are all areas of the business where customers have contact with the company and data may be gathered and used to guide and direct the decision making within that business unit.

4. _____ interactions occur when customers buy products in a store.

5. A _____ is essentially a very large, corporate-wide database, culled from a number of separate systems, such as billing, accounting, order fulfillment, distribution, customer service, and marketing and sales, already in place within an organization.

6. _____ is the process of finding hidden patterns and relationships in the customer data stored in the data warehouse.

7. Which of the following techniques used to analyze marketing databases considers whether a customer has made a purchase recently as well as how often that customer makes a purchase?

8. _____ was the technique used to suggest that a customer who wanted to buy a $29 shirt would also be a likely prospect for a cigar humidor.

9. Many high-end hotel chains award points for every dollar spent in one of their hotels. Customers who earn a high number of points are given special privileges that may include upgraded hotel rooms or several free nights. This is an example of the leveraging of customer information to:

10. CRM concerns many Americans because:




Instructions:









Chapter 19—Customer Relationship Management


1 Explain the importance of interactions in a customer relationship management system. Most colleges and universities have some form of CRM system. Describe an interaction that occurs at your institution.

2. What is a touch point? Give two examples of touch points.

3. An organization wants to identify its best customers. What data-mining techniques can it use if all of its customer information is stored in a database?

4. Briefly describe six common CRM marketing database applications.

5. You have decided your business should adopt a CRM marketing approach. You have invested in computer software that captures customer data such as name, address, age, education, and lifestyle characteristics. Now, you find many customers are reluctant to provide you with such information. What are the general consumer concerns regarding this issue, and how could you address these concerns?

Chapter 1—An Overview of Marketing - California State ...ecarter2/CSUB.MKTG.300 Summer 07/Actual...

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