Marketing 4th Canadian Edition By Grewal – Test Bank

Marketing 4th Canadian Edition By Grewal – Test Bank

Chapter 03

Analyzing the Marketing Environment

Multiple Choice Questions

1. Which of the following is the goal of value-based marketing?
A. satisfy customers by offering the best price in the market
B. satisfy employees by offering the best benefits
C. satisfy investors by offering the best ROI
D. offers greater value to consumers than competitors
E. differentiate product offerings

Customers are at the heart of all marketing programs and efforts; value-based marketing aims to provide greater value to consumers than competitors offer.

Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 03-01 Outline how the factors in a firm’s microenvironment influence its marketing strategy.
Topic: 03-01 A Marketing Environment Analysis Framework

2. Which of the following is NOT a microenvironmental factor?
A. company
B. corporate partners
C. consumers
D. competition
E. capabilities

Customers are not considered a microenvironmental factor.

Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Moderate
Learning Objective: 03-01 Outline how the factors in a firm’s microenvironment influence its marketing strategy.
Topic: 03-02 Microenvironmental Factors

3. Walmart’s effective distribution network is at the heart of its success. This describes which factors of a Walmart consumers’ microenvironment.
A. Competition
B. partners
C. place
D. company capabilities
E. culture

The first factor in the firm’s microenvironment is the firm and its capabilities. The effective distribution network is an example.

Accessibility: Keyboard Navigation
Blooms: Understand
Difficulty: Moderate
Learning Objective: 03-01 Outline how the factors in a firm’s microenvironment influence its marketing strategy.
Topic: 03-03 Company Capabilities

4. When firms collect and synthesize information about their position with respect to their rivals, it is called:
A. bid rigging.
B. exclusive dealing.
C. bait-and-switch.
D. generational cohort.
E. competitive intelligence.

Competitive intelligence (CI) is used by firms to collect and synthesize information about their position with respect to their rivals; it enables companies to anticipate changes in the marketplace rather than merely react to them.

Accessibility: Keyboard Navigation
Blooms: Remember
Difficulty: Easy
Learning Objective: 03-01 Outline how the factors in a firm’s microenvironment influence its marketing strategy.
Topic: 03-04 Competition