MARKETING APPLICATIONS - VOCATS REVIEW #1 (1.0-4.0) PJ

An energy company has misrepresented its financial status on its latest accounting reports. This is an example of which negative action?

• Failing to provide what customers want
• Not keeping promises
• Responding inappropriately to crises 
• Acting unethically 

Morgan Health Supply Company wants to expand its product line this year. It uses its budget surplus to invest in new products rather than to remodel its offices. This is an example of which positive action?

• Provide excellent customer service
• Align strategies and activities with goals
• Demonstrate corporate responsibility
• . Utilize touch points to reinforce company image

The essence of time management is to achieve which goal? 

• Set a fixed schedule and follow it
• Eliminate the need to prioritize activities
• Focus on spreading work over a period of time
• Focus on spreading work over a period of time

An effective time-management approach for the manager of a large staff would be to perform which activity? 

• Build flexibility into his or her schedule
• Fill each workday schedule completely
•  Block off six hours of uninterrupted work time daily
• Delegate most managerial responsibilities to an assistant 

Complex buying behavior is most likely involved when the customer is purchasing which items?

• Cars
• Meals
• Socks
• Gasoline

Which is an example of an internal change that could affect a sales forecast?

• A direct competitor is planning a new promotional campaign.
• The birth rate increased following a war.
• A new product line is to be offered by the business. 
• The economy is struggling with a major drop in stock market prices. 

An international soft-drink company that wants to add bottled spring water to its product mix has determined that there are four major brands that hold the majority of the market share for that product. The strengths and weaknesses of each potential competitor have been examined. This is an example of what factor? 

•  The action plan
• The marketing strategy 
• The situation analysis 
• The purpose and mission

The purpose of the marketing planning process is to balance the internal strengths and weaknesses of a company with which external factors? 

• Costs and expenses
• Products and resources
• Opportunities and threats
• Goals and objectives

How does a marketing plan affect the way the marketing team plans its strategies?

• The team has more difficulty planning strategies. 
• B. The team can plan strategies up to 10 years in advance. 
• C. The team can plan strategies with more precision. 
• D. The team can plan strategies more quickly. 

When conducting an external environmental analysis, businesses often focus on which factor or factors?

• Previous demand
• Industry growth
• Marketing goals
• Financial costs