Question 1

Where would you place the balanced score activity in the marketing planning process?

planning

implementation

control

strategizing

all of these answers are correct

none of these answers are correct

Question 2  

What stage of the product life cycle do you begin the simulation?

Introduction

Growth

Maturity

Decline

None are correct

Question 3  

The first quarter you design an ad is

First

Second

Third

Fourth

Fifth

Question 4  

If you can generate large sales volumes, production costs per unit will usually drop dramatically. Lower costs for the goods sold will allow you to lower your prices and/or increase your profits. Which pricing method would work with this strategic approach?

High low pricing

Market skimming

Penetration pricing

Rebating

None are correct

Question 5

Notice in the marketing simulation with regard to cost of production, as the number produced (sold) increases the cost per unit decreases at an increasing rate. What is not a factor?

economies of scale

experience/learning curve

volume discounts

selective distribution

Sales

Question 6

Selecting the number of sales personnel for training falls under what marketing strategy decision?

Price

Product

Place

Promotion

None are correct

Question 7

Determining whether you use a rebate falls under what marketing strategy decision?

Price

Product

Place

Promotion

Price and promotion

Question 8

Selecting the type of keyboard falls under what marketing strategy decision?

Price

Product

Place

Promotion

None are correct

Question 9

Everyone wants more for less. A lower price for the same goods is a powerful magnet for customers. What is the concern?

It is counter to market penetration strategy

Company value

Support niche marketing

Is not valuable to all consumers

All are correct

All are incorrect

Question 10

Selecting the cities falls under what marketing strategy decision?

Price

Product

Place

Promotion

None are correct

1 points  

Question 11

1.  

Selecting the number of sales personnel for training and therefore available for services falls under what marketing strategy decision?

Answer

Price

Product

Place

None are correct

1 points  

Question 12

1.  

After performing an STP analysis, marketers implement ____________ for each target market. 

Answer

 pricing strategies

 promotion strategies

 place strategies

 product strategies

 all of these

1 points  

Question 13

1.  

In the process of making each of the six quarterly decisions, we would develop and/or review what?

 Specific plans for each of the four Ps.

 Marketing objectives.

 Opportunities for the firm.

 Perceived weaknesses of the firm.

 All of these.

1 points  

Question 14

1.  

Where would you place performing a SWOT in the marketing planning process?

Answer

planning

implementation

control

strategizing

all of these answers are correct

none of these answers are correct

1 points  

Question 15

1.  

When your desired consumer compares features such as costs and benefits of your laptop, it represents which marketing concept?

Answer

positioning

segmentation

targeting

value proposition

none of these answers are correct

1 points  

Question 16

1.  

One of the challenges of the marketing simulation is even after you have created a successful marketing strategy for one quarter, the next quarter it could be a failure. Which marketing concepts are possibly affected?

Answer

Point of parity

Sustainable competitive advantage

Point of difference

Marketing strategy

all of these answers are correct

none of these answers are correct

1 points  

Question 17

1.  

In a SWOT analysis, a poor brand judgment represents what?

Answer

Strength

Weakness

Threat

Opportunity

None are correct

All are correct

1 points  

Question 18

1.  

In a SWOT analysis, an increase in consumer demand for computers represents?

Answer

Strength

Weakness

Threat

Opportunity

None are correct

All are correct

1 points  

Question 19

1.  

When reviewing the performance of a quarter which factors are likely to be considered?

Answer

Sales

Gross margin

Number of consumers

Coupon redemption

All are correct

None are correct

1 points  

Question 20

1.  

When choosing the advertising design, the most effective and efficient design depends on?

Answer

The customers

The value created

The message

Cost of ad development and placement

All are correct

None are correct

1 points  

Question 21

1.  

If you are trying to sell to Mercedes, which would be the best feature to not include?

Answer

Low price

Easy to use

Can link with other computers

After-sale service and support

Fast and powerful

Portability

Fun to use

Easy on eyes

Able to store a lot of data

Can work on multiple complex tasks

1 points  

Question 22

1.  

If you are trying to sell to Mercedes, which would be the best feature to include?

Answer

Low price

Easy to use

Can link with other computers

After-sale service and support

Fast and powerful

Portability

Fun to use

Easy on eyes

Able to store a lot of data

Can work on multiple complex tasks

1 points  

Question 23

1.  

Using the marketing simulation research and the marketing simulation's instructions on how to evaluate said research, select the two segments which would be the best option if you were attempting to design to a low to moderately price computer that could potentially be attractive/valuable to two of the segments?

Answer

Mercedes and traveler

Workhorse and traveler

Mercedes and Workhorse

all of these answers are correct

none of these answers are correct

1 points  

Question 24

1.  

In the previous question you selected the best two segments to attempt to market with one computer. Which product feature represents the greatest threat?

Answer

Service

Portability

Engineering software

Manufacturing software

Office

All are threats

None are threats

1 points  

Question 25

1.  

If you were attempting to design a product to satisfy both the workhorse and the traveler segments, how could I best save money on removing applications?

Answer

Office

Presentation

Database

Bookkeeping

Engineering

Manufacturing

Games

1 points  

Question 26

1.  

If you were attempting to design a product to satisfy both the workhorse and the traveler segments, which is the best application to include?

Answer

Office

Presentation

Database

Bookkeepting

Engineering

Manufacturing

Games

1 points  

Question 27

1.  

Which is the third step in the strategic marketing planning process?

Answer

Define the business mission

Identify and evaluate opportunities

Implement marketing mix and allocate resources

Situation analysis

None are correct

1 points  

Question 28

1.  

What is considered the benchmark for a good brand judgment?

Answer

50

70

80

90

100

1 points  

Question 29

1.  

What is considered the minimum acceptable benchmark for brand judgment?

Answer

50

70

80

90

100

None are correct

1 points  

Question 30

1.  

Which step is not really performed by the groups in the marketing simulation?

Answer

Define the business mission

Identify and evaluate opportunities

Implement marketing mix and allocate resources

Situation analysis

None are correct

1 points  

Question 31

1.  

What is considered the minimum benchmark for price judgment?

Answer

50

70

80

90

100

None are correct

1 points  

Question 32

1.  

Which price judgment would you prefer?

Answer

75

80

95

100

105

1 points  

Question 33

1.  

What is considered the minimum benchmark for a good ad judgment?

Answer

50

70

80

90

100

None are correct

1 points  

Question 34

1.  

With regard to brand judgment, what number of points results in a potential the crossover of the consumer to the higher rated brand?

Answer

1 point

3 points

5 points

8 points

10 points

1 points  

Question 35

1.  

What is considered the minimum benchmark for a good market share?

Answer

50

70

75

80

90

100

None are correct

1 points  

Question 36

1.  

What is considered the benchmark for a good marketing efficiency score?

Answer

50

70

75

80

90

100

None are correct

1 points  

Question 37

1.  

Use the information below to answer the question, which has a "good" efficiency score?

Answer

Team 01

Team 02

Team 03

Team 04

Team 05

None are correct

1 points  

Question 38

1.  

Use the information below to answer the question. Which is the best overall team?Advanced Balanced Scorecard:

TEAM1 TEAM 2 TEAM 3 TEAM 4 TEAM 5

Total Performance 17.216 74.98 31.269 66.02 50.47

FinancialPerformance .397 29.44 1.308 40.322 14.741 Market Performance 8 119 26 83 64

Market 43.25 76.5 66.5 74.75 72Effectiveness

Answer

Team01

Team02

Team03

Team04

Team05

1 points  

Question 39

1.  

Given the information below which strategy, what is the balanced scorecard score?Gross Profit =$ 100,000.00 Total Expenses = $ 200,000.00 Other Income =$ 10,000.00 Other Expenses = $ 10,000.00 Market Share (1st seg)=15.00 Market Share (2nd seg)=25.00

Highest Brand Judgement (1st seg) =50Highest Brand Judgement (2nd seg) =75Highest Ad Judgement (1st seg) =50Highest Ad Judgement (2nd seg) =55

Answer

15

-15

27.5

-27.5

51

-51

1 points  

Question 40

1.  

Increase advertising expenseGiven the information below which strategy does not seem to be a good one?Gross Profit =$ 100,000.00 Total Expenses = $ 200,000.00 Other Income =$ 10,000.00 Other Expenses = $ 10,000.00 Market Share (1st seg)=15.00 Market Share (2nd seg)=25.00 Highest Brand Judgement (1st seg) =50Highest Brand Judgement (2nd seg) =75Highest Ad Judgement (1st seg) =50Highest Ad Judgement (2nd seg) =55

Answer

Switch second segment to first

Cut expenses

Keep first segment

Redesign ads

Increase advertising expense

1 points  

Question 41

1.  

The customer union warning refers to what issue?

Answer

Bad price

Deceptive advertising

Brand does not meet target markets standards

Inadequate sales support

Insufficient advertising

1 points  

Question 42

1.  

In quarter six your group decided to upgrade to the ultrafast processor and include the office upgrade, what ___________ strategy are you pursuing?

Answer

Market development

Market penetration

Operational excellence

Customer excellence

Product development

1 points  

Question 43

1.  

In a hypothetical quarter 7, you have the ability to install a customer retention program. Such programs are based on what concept?

Answer

Customer excellence is the easiest macro strategy to follow.

Customer relationships should be viewed from a lifetime value perspective.

Importance of maximizing profits the first few months of a customer relationship

Segmentation, targeting and positioning analysis should not be rushed.

Firms must spend large amounts of money to retain customers.

1 points  

Question 44

1.  

When firms successfully implement poor strategies (perhaps due to good luck) or do a poor job of implementing good strategies, it can be difficult to: 

Answer

 generate cost-based performance ratios.

 evaluate performance and make adjustments.

 increase product excellence without reducing customer excellence.

 develop segmentation strategies.

 choose a business mission.

1 points  

Question 45

1.  

When increasing the number of sales offices firm is focusing on __________ value creation. 

Answer

 product

 price

 promotion

 place

 financial

1 points  

Question 46

1.  

You had other firms that competed with you, if two of the firms in quarter 5 dominate with large volumes, promote heavily, and significantly larger sales staffs in two of the cities, what is true about these firms?

Answer

 identical marketing mixes.

 Excellent price judgments

 a sustainable competitive advantage.

 achieved product excellence.

 violated laws governing competition.

1 points  

Question 47

1.  

When your group engaged in the following activities such as; have analyzed the current business situation, and then identified target markets for his firm's personal care products. Finally, your group develops the products, prices, distribution and promotion that should appeal to each of those target markets. In doing so, In the process you believe you have created a value difference the other competitors don't possess, your team has been developing: 

Answer

 a business mission statement

 a strategic vision

 team-building exercises

 a marketing strategy

 competitive assessments

1 points  

Question 48

1.  

Once after you established one higher priced desktop computer that is well received by Mercedes, in later quarters you add a laptop to the same location that seems to be selling to travellers, a segment you have not had luck selling to previously, it would be pursuing a ______ growth strategy. 

Answer

 product development

 market development

 market penetration

 diversification

 product proliferation

Question 49

In the hypothetical quarter 7 there was an option where your team could have a website. One of the options you could purchase was a "Share it!" button on the website. This button encourages a customer to post a link to a product page (perhaps showing a new style of jeans) on Facebook or Twitter. Your team's goal would be that the customer's friends (who are probably very much like current customers) will click the link, visit the page, and make purchases. This is an example of a ______ growth strategy. 

 product proliferation

 market development

 market penetration

 Diversification

 product development

Question 50  

 An advertising option in the marketing simulation was that you could include a picture of an engineer and also include ad copy communicating that your computer came with engineering software. This ad campaign is part of your: 

Answer

 mission statement.

 market segmentation plan.

 product strategy.

 customer excellence strategy.

 positioning strategy.