Marketing Management

21. A marketing philosophy summarized by the phrase "a good product will sell itself" is characteristic of the ______________ period.

  1. Production
  2. Sales
  3. Marketing
  4. Relationship
Correct answer: (A)
Production

22. Diversification is best described as which of the following?

  1. Existing products in new markets
  2. Existing products in existing markets
  3. New products for new markets
  4. New products for existing markets
Correct answer: (C)
New products for new markets

23. Today's marketers need ______________

  1. Neither creativity nor critical thinking skills
  2. Both creativity and critical thinking skills
  3. Critical thinking skills but not creativity
  4. Creativity but not critical thinking skills
Correct answer: (B)
Both creativity and critical thinking skills

24. An imbalance between a consumer's actual and desired state in which recognition that a gap or problem needs resolving is called ______________

  1. Motive development
  2. An attitudes
  3. A self-concept
  4. Product Evolutions
Correct answer: (A)
Motive development

25. When producers, wholesalers, and retailers act as a unified system, they comprise a ______________

  1. Conventional marketing system.
  2. Power-based marketing system.
  3. Horizontal marketing system.
  4. Vertical marketing system.
Correct answer: (D)
Vertical marketing system.

26. Which of the following is a strategic marketing planning tool?

  1. The market share/market growth (BCG) matrix
  2. The consumer scanning model
  3. A market vulnerability/business opportunity matrix
  4. Market sheet analysis
Correct answer: (A)
The market share/market growth (BCG) matrix

27. Diversification is best described as which of the following?

  1. Existing products in new markets
  2. Existing products in existing markets
  3. New products for new markets
  4. New products for existing markets
Correct answer: (C)
New products for new markets

28. The process that turns marketing strategies and plans into marketing actions in order to accomplish strategic marketing objectives is called ______________

  1. Marketing strategy.
  2. Marketing control.
  3. Marketing analysis.
  4. Marketing implementation
Correct answer: (D)
Marketing implementation

29. ______________ is a strategy of using a successful brand name to launch a new or modified product in a new category.

  1. Duo-branding
  2. Line extension
  3. Brand extension
  4. Multi-branding
Correct answer: (C)
Brand extension

30. The stage is the product life cycle that focuses on expanding market and creating product awareness and trial is the:

  1. Decline stage.
  2. Introduction stage.
  3. Growth stage.
  4. Maturity stage.
Correct answer: (B)
Introduction stage.
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