Competitive Marketing Study Questions and Quizzes
Study Questions 2.1
1. Monopolistic competition has:
a) Many suppliers with a variety of products, each of which has a small market share
2. Perfect competition has: c) Many suppliers selling essentially the same product
3. Market share is measured as: a) Company sales in $s divided by total industry $ sales over a specified time period x 100%
4. Market share is measured: e) All the listed options are correct
5. The key to competitive research is to focus on and understand:
b) Competitors’ added value processes
6. ____________ is $s spent on advertising divided by all $s spent on advertising by industry.
b) Voice share
7. How many competitive forces are there in the Porter Model.
e) 5
8. Which of the following is correct? Marketing views suppliers and buyers:
c) Mostly as partners, sometimes as competition
9. Which of the following are not part of the competitive added value chain:
d) System control processes.
10. Which of the following are not part of the competitive added value chain?
c) Resource allocation processes
Study Questions 2.2
1. The biggest driver of change in channels is c) New technology
2. The future of popular music depends on: d) A and B
3. The three stages of an individual distributor audit are, in order: c) Performance metric analysis, fit analysis and added-value chain analysis
4. Channel research identifies where a distributor or trading partner is comparatively weak and/or strong: d) Along its added-value chain
5. ________________ is/are important in undertaking distribution channel research.
b) Process thinking skills
Study Questions 2.3
1. The most important economic trends that the North American marketer must track are economic trends in: c) Emerging nations
2. What trend precipitated the recent U.S. recession: d) Chinese consumers saving a lot rather than spending
3. What underlies dynamic analysis? c) Positive feedback effects
4. Environment analysis involves: c) Analyzing the dynamics that are driving trends
5. As the number of gas pumps at convenience stores increased: d) All of the above options are true
6. Vicious circles: d) Are created by positive feedback effects
Study Questions 2.4
1. Much of current marketing law in North America is:
c) The result of lobbyists seeking competitive advantage
2. A basic principle of free market economics is:
c) Regulation is needed to make markets fair and efficient
3. The swapping of internet music files is:
a) Only legal if you have the permission of the copyright holder
4. An obsessive resentment of market law and regulation:
c) Can result in disaster and disgrace
Study Questions 2.5
1. How many planning documents are recommended? d) 4
2. Some large companies ___________ which contain running reports on changing buyer demand, global supply-chain developments and latest information on competition.
b) Use market insight
3. Two studies undertaken by The Conference Board of Fortune 1000 company marketing planning practices revealed that __________ present an analysis of the latest insights into changing customer preferences and behavior, competitor behavior and channel behavior.
c) Less than one in three
4. A network of market observers is used: d) All of these options are correct
5. Manager thinking quality, rationality and insight is bound by d) A and B
6. Which of the following is not internal secondary data: a) A satisfaction survey of customers
7. Which of the following is not an environment in a market analysis: d) Psychological Environment
8. Which of the following is not a best practice in calling experts: c) Do not use a list of questions; it is too obvious you are undertaking a
Study Quiz 2.6
1. In a SWOT analysis the threats and opportunities are _______.
d) External to your organization and about your future business
2. It is recommended that you answer which of the following questions in undertaking a SWOT analysis: e) All of these questions
3. Patents are part of which of the four SWOT elements? a) Strengths
4. Poor distribution reach is part of which of the four SWOT elements?
b)
5. Competitor innovations are part of which of the four SWOT elements?
d) Threats
6. Lifestyle trends are part of which of the four SWOT elements?
c) Opportunities
7. Managers who spend the quiet time allocated to thinking about the SWOT analysis putting out fires: d) Reveal themselves as forever lieutenants
Study Quiz 2.7
1. The implementation plan: a) Is a map of activities and processes to be undertaken
2. Each process must be mapped to reveal: e) All of these options are true
3. Managers who are excellent at getting things done: e) All of these options are true
4. Managers whose personal task and process management skills are weak: c) Are often not good at orchestrating and managing organization-wide processes
5. The person you hand-off the product of a task to is called: d) An internal customer
6. The internal customer is expected to blow the whistle on (call attention to): e) All of these options
7. As each member of a team is likely to be responsible for managing specific partnerships, the team must always be concerned about __________, with each team member preoccupied with and promoting the implementation perspective and interests of the alliance partner they are working with.
a) Common team goals
8. Entrepreneurial business development teams are most effective when senior management and the organization map the _______________.
e) B and C
9. In budgeting, the order of use of the budget documents is: c) Gap analysis, Capital Creation analysis, P&L
10. The profit and loss budget statement is presented: e) Month to month and year to year