Oxford University Press | Online Resource Centre

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Question 1

Which of the following is true about marketing planning at the bottom of a business cycle?

a) This is the worst time to invest because the market is weak.

b) If it is fairly certain that the bottom of the cycle has been reached, this is the time to begin increasing investment.

c) Planning should continue on the basis of no change in the level of national economic activity.

d) There is greater certainty at this stage in the cycle than at other stages.

Question 2

A value chain in marketing is:

a) An operator of discount stores with many branches.

b) A factory outlet store.

c) A process by which goods gain value as they pass through different levels of intermediaries.

d) A process by which companies target value conscious customers.

Question 3

Which of the following is the best definition of an organization's "environmental set"?

a) Ecological system

b) Micro-environment

c) Closed system

d) Open system

Question 4

Most western countries experienced a decade of prosperity, and then from 2008 a period of recession. A term that describes the transition between these stages is:

a) Inflation

b) Deflation

c) The business cycle

d) The multiplier effect

Question 5

Which of the following is least likely to be associated with a firm's macro-environment?

a) Study of the changing birth rate

b) Analysis of household savings ratios

c) A new staff incentive scheme

d) Cultural convergence

Question 6

Which of the following represents the most directly important reason why firms monitor their demographic environment?

a) To explain historical trends

b) To predict political change

c) To predict the size of market segments

d) To predict business cycles

Question 7

In a flexible firm, "core workers" are:

a) Numerically flexible

b) Functionally flexible

c) Numerically flexible and functionally flexible

d) None of the above

Question 8

Which of the following is NOT part of an organization's micro-environment?

a) Customers

b) Suppliers

c) Competitors

d) Government legislation

Question 9

Which of the following is an element of an organization's internal-environment?

a) Competitors

b) Employees

c) Wholesalers

d) Retailers

Question 10

A method of comparing the internal capabilities of an organization with the demands and challenges of its external environment is referred to as:

a) SHOT analysis

b) SWOT analysis

c) Stakeholder analysis

d) Shareholder analysis

Oxford University Press, Online Resource Centre, Chapter 02.

Chapter 02

Instructions