Question 1

Indicate the differences and similarities between the following terms: marketing plan,strategic marketing plan,and tactical marketing plan.

Accepted Answer

The marketing plan is the central instru

Question 2

Competitors in a given industry can be identified by the similarities in their core competencies.

Accepted Answer

A) True 
 B)False

Question 3

Hot Topic,a chain that sells rock-band-inspired clothes for teens,recently launched Torrid to give plus-size teens the same fashion options.Identify the three parts of the value delivery process and their function for Hot Topic.

Accepted Answer

The first phase,choosing the value,repre

Question 4

Good mission statements are essential to being a success in business.Describe the three major characteristics that good mission statements should have.

Accepted Answer

Major characteristics of mission stateme

Question 5

Outline the steps involved in business unit strategic-planning process.

Accepted Answer

Students should describe (in o

Question 6

Briefly summarize the two views of the value delivery process that may be followed by organizations.

Accepted Answer

The traditional view of marketing is tha

Question 7

Which of the following is an example of integrative growth?

Accepted Answer

A) a company improves its market share with its current products in the current markets 
B) a company enters a new market with current products 
C) a company develops new products for its existing markets 
D) a company improving sales by integrating backward 
E) a company developing new products for new markets 
A) a company improves its market share with its current products in the current markets 
B) a company enters a new market with current products 
C) a company develops new products for its existing markets 
D) a company improving sales by integrating backward 
E) a company developing new products for new markets

Question 8

Which of the following can be considered a primary activity in the value chain process?

Accepted Answer

A) procurement 
B) human resource management 
C) technology development 
D) inbound logistics 
E) firm infrastructure 
A) procurement 
B) human resource management 
C) technology development 
D) inbound logistics 
E) firm infrastructure

Question 9

The marketing plan,the central instrument for directing and coordinating the marketing effort,operates at ________ levels.

Accepted Answer

A) functional and operational 
B) strategic and tactical 
C) corporate and operational 
D) customer and expenditure 
E) corporate and division 
A) functional and operational 
B) strategic and tactical 
C) corporate and operational 
D) customer and expenditure 
E) corporate and division

Question 10

A firm employing a focus strategy concentrates on achieving superior performance in an important customer benefit area valued by a large part of the market.

Accepted Answer

A) True 
 B)False

Question 11

For an MBO (management by objectives)system to work,one of the four criteria that the unit's objectives must meet is that objectives must be stated quantitatively whenever possible.

Accepted Answer

A) True 
 B)False

Question 12

With respect to the core business processes,the ________ includes all the activities involved in developing,and launching high-quality products quickly and within budget.

Accepted Answer

A) market-sensing process 
B) new-offering realization process 
C) fulfillment management process 
D) customer acquisition process 
E) customer relationship management process 
A) market-sensing process 
B) new-offering realization process 
C) fulfillment management process 
D) customer acquisition process 
E) customer relationship management process

Question 13

The customer relationship management process involves all the activities related to receiving and approving orders,shipping the goods on time,and collecting payment.

Accepted Answer

A) True 
 B)False

Question 14

The new-offering realization process involves all activities in defining target markets and prospecting for new customers.

Accepted Answer

A) True 
 B)False

Question 15

What are hollow corporations?

Accepted Answer

A) companies that market their products through franchisees 
B) companies that have liabilities exceeding their assets 
C) companies that outsource all production to suppliers 
D) companies that do not have any physical presence and only operate online 
E) companies that are horizontally integrated 
A) companies that market their products through franchisees 
B) companies that have liabilities exceeding their assets 
C) companies that outsource all production to suppliers 
D) companies that do not have any physical presence and only operate online 
E) companies that are horizontally integrated

Question 16

A company seeking to expand the number of existing products sold to its current markets,would be using a "market-penetration strategy".

Accepted Answer

A) True 
 B)False

Question 17

For an MBO system (manage by objectives)to work,the business unit attempting to implement the process must meet four criteria.What are those criteria?

Accepted Answer

The criteria are: (1)they must be arrang

Question 18

Most marketing plans conclude with a section that indicates how the plan will be implemented.

Accepted Answer

A) True 
 B)False

Question 19

Which of the following statements is true of marketing plans?

Accepted Answer

A) They can be independently developed without worrying about other functional areas. 
B) They provide direction and focus for a brand,product,or company. 
C) They are usually profit-oriented. 
D) They are of limited use to non-profit organizations. 
E) They are typically five-year plans and they lay out the strategies required to achieve targets in those five years. 
A) They can be independently developed without worrying about other functional areas. 
B) They provide direction and focus for a brand,product,or company. 
C) They are usually profit-oriented. 
D) They are of limited use to non-profit organizations. 
E) They are typically five-year plans and they lay out the strategies required to achieve targets in those five years.

Question 20

Which of the following is one of the five major characteristics of good mission statements?

Accepted Answer

A) They focus on a large number of goals. 
B) They expand the range of individual employee discretion. 
C) They define the major competitive spheres within which the company will operate. 
D) They take a short-term view. 
E) They are long and comprehensive to ensure that all critical concepts are included. 
A) They focus on a large number of goals. 
B) They expand the range of individual employee discretion. 
C) They define the major competitive spheres within which the company will operate. 
D) They take a short-term view. 
E) They are long and comprehensive to ensure that all critical concepts are included.

Exam 2: Developing Marketing Strategies and Plans

Indicate the differences and similarities between the following terms: marketing plan,strategic marketing plan,and tactical marketing plan.

Competitors in a given industry can be identified by the similarities in their core competencies.

Hot Topic,a chain that sells rock-band-inspired clothes for teens,recently launched Torrid to give plus-size teens the same fashion options.Identify the three parts of the value delivery process and their function for Hot Topic.

Good mission statements are essential to being a success in business.Describe the three major characteristics that good mission statements should have.

Outline the steps involved in business unit strategic-planning process.

Briefly summarize the two views of the value delivery process that may be followed by organizations.

Which of the following is an example of integrative growth?

Which of the following can be considered a primary activity in the value chain process?

The marketing plan,the central instrument for directing and coordinating the marketing effort,operates at ________ levels.

A firm employing a focus strategy concentrates on achieving superior performance in an important customer benefit area valued by a large part of the market.

For an MBO (management by objectives)system to work,one of the four criteria that the unit's objectives must meet is that objectives must be stated quantitatively whenever possible.

With respect to the core business processes,the ________ includes all the activities involved in developing,and launching high-quality products quickly and within budget.

The customer relationship management process involves all the activities related to receiving and approving orders,shipping the goods on time,and collecting payment.

The new-offering realization process involves all activities in defining target markets and prospecting for new customers.

What are hollow corporations?

A company seeking to expand the number of existing products sold to its current markets,would be using a "market-penetration strategy".

For an MBO system (manage by objectives)to work,the business unit attempting to implement the process must meet four criteria.What are those criteria?

Most marketing plans conclude with a section that indicates how the plan will be implemented.

Which of the following statements is true of marketing plans?

Which of the following is one of the five major characteristics of good mission statements?

Defining Marketing for the New Realities

Gathering Information and Forecasting Demand

Conducting Marketing Research

Creating Customer Value,satisfaction,and Loyalty

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Competitive Dynamics

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Marketing Channels and Value Networks

Managing Retailing,wholesaling,and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, sales Promotions, events, and Public Relations

Managing Digital Communications: Online, social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Introducing New Market Offerings

Tapping Into Global Markets

Managing a Holistic Marketing Organization

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