Question 1

Describe what happens in scenario analysis and explain why firms such as Royal Dutch/Shell Group use the technique.

Accepted Answer

Scenario analysis consists of developing

Question 2

Once a SWOT analysis has been completed,the strategic planner is ready to proceed to the goal formulation stage of the strategic-planning process model.

Accepted Answer

A) True 
 B)False

Question 3

Microsoft features Pepsi in its XBox 360 games.The best description of this form of alliance would be a(n)________.

Accepted Answer

A) product alliance 
B) logistics alliance 
C) pricing collaboration 
D) network alliance 
E) promotional alliance 
A) product alliance 
B) logistics alliance 
C) pricing collaboration 
D) network alliance 
E) promotional alliance

Question 4

Partner relationship management is now considered as a core skill fundamental to the development and maintenance of strategic alliances.

Accepted Answer

A) True 
 B)False

Question 5

The traditional view of marketing works best in economies with many different types of people,each with individual wants,perceptions,preferences,and buying criteria.

Accepted Answer

A) True 
 B)False

Question 6

When a business gets to know market segments intimately and pursues either cost leadership or differentiation within the target segment,it is employing a ________.

Accepted Answer

A) defined strategy 
B) focused strategy 
C) value-added strategy 
D) competitive advantage strategy 
E) customer-focused strategy 
A) defined strategy 
B) focused strategy 
C) value-added strategy 
D) competitive advantage strategy 
E) customer-focused strategy

Question 7

Core competencies tend to refer to areas of special technical and production expertise,whereas ________ tend to describe excellence in broader business processes.

Accepted Answer

A) process benchmarks 
B) distinctive capabilities 
C) distributive capabilities 
D) facultative benchmarks 
E) concentric capabilities 
A) process benchmarks 
B) distinctive capabilities 
C) distributive capabilities 
D) facultative benchmarks 
E) concentric capabilities

Question 8

A business can be defined in terms of three dimensions: customer groups,customer needs and ___________.

Accepted Answer

A) size 
B) technology 
C) competitors 
D) services 
E) products 
A) size 
B) technology 
C) competitors 
D) services 
E) products

Question 9

AsiaCorp is one of the best in its industry in terms of costs and performance.Many companies in its industry will probably consider AsiaCorp as a ________.

Accepted Answer

A) pioneer 
B) benchmark 
C) target for acquisition 
D) future supplier 
E) sounding board for ideas 
A) pioneer 
B) benchmark 
C) target for acquisition 
D) future supplier 
E) sounding board for ideas

Question 10

The ________ in the value chain cover the sequence of bringing materials into the business (inbound logistics),converting them into final products (operations),shipping out final products (outbound logistics),marketing them (marketing and sales),and servicing them (service).

Accepted Answer

A) operations processes 
B) manufacturing processes 
C) primary activities 
D) secondary activities 
E) tertiary activities 
A) operations processes 
B) manufacturing processes 
C) primary activities 
D) secondary activities 
E) tertiary activities

Question 11

A strategic-planning gap can be corrected by ________.

Accepted Answer

A) changing the company's mission 
B) adjusting its core values 
C) choosing integrative growth strategies 
D) redefining organizational culture 
E) increasing resource use 
A) changing the company's mission 
B) adjusting its core values 
C) choosing integrative growth strategies 
D) redefining organizational culture 
E) increasing resource use

Question 12

A clear,thoughtful mission statement provides employees with a shared sense of purpose,direction,and ________.

Accepted Answer

A) profitability 
B) target market feasibility 
C) opportunity 
D) continuous improvement 
E) quality products 
A) profitability 
B) target market feasibility 
C) opportunity 
D) continuous improvement 
E) quality products

Question 13

Characterize a marketing plan.

Accepted Answer

A marketing plan is a written document t

Question 14

A company that seeks to increase its sales and profits through backward,forward,or horizontal integration within the industry is said to be employing a(n)________ strategy.

Accepted Answer

A) diversification growth 
B) intensive growth 
C) target growth 
D) integrative growth 
E) conglomerate growth 
A) diversification growth 
B) intensive growth 
C) target growth 
D) integrative growth 
E) conglomerate growth

Question 15

In applying MBO (management by objectives)all objectives are treated as being equally important.

Accepted Answer

A) True 
 B)False

Question 16

A marketing plan should open with a situation analysis.

Accepted Answer

A) True 
 B)False

Question 17

Qantas,the Australian national carrier,introduces flights to the Middle East.This is an example of ________.

Accepted Answer

A) product development 
B) diversification 
C) market development 
D) market penetration 
E) differentiation 
A) product development 
B) diversification 
C) market development 
D) market penetration 
E) differentiation

Question 18

Good marketing is the art of finding,developing,and profiting from marketing opportunities.What are the three primary methods for uncovering possible product or service improvements?

Accepted Answer

Methods for uncovering possible product

Question 19

An intensive growth strategy involving marketing current products to new markets is a market-development strategy.

Accepted Answer

A) True 
 B)False

Question 20

While viewing businesses in terms of customer needs can suggest additional growth opportunities,a ________ tends to focus on selling a product or service to a current market.

Accepted Answer

A) strategic market definition 
B) target market definition 
C) cognitive definition 
D) product definition 
E) tactical definition 
A) strategic market definition 
B) target market definition 
C) cognitive definition 
D) product definition 
E) tactical definition

Exam 2: Developing Marketing Strategies and Plans

Describe what happens in scenario analysis and explain why firms such as Royal Dutch/Shell Group use the technique.

Once a SWOT analysis has been completed,the strategic planner is ready to proceed to the goal formulation stage of the strategic-planning process model.

Microsoft features Pepsi in its XBox 360 games.The best description of this form of alliance would be a(n)________.

Partner relationship management is now considered as a core skill fundamental to the development and maintenance of strategic alliances.

The traditional view of marketing works best in economies with many different types of people,each with individual wants,perceptions,preferences,and buying criteria.

When a business gets to know market segments intimately and pursues either cost leadership or differentiation within the target segment,it is employing a ________.

Core competencies tend to refer to areas of special technical and production expertise,whereas ________ tend to describe excellence in broader business processes.

A business can be defined in terms of three dimensions: customer groups,customer needs and ___________.

AsiaCorp is one of the best in its industry in terms of costs and performance.Many companies in its industry will probably consider AsiaCorp as a ________.

The ________ in the value chain cover the sequence of bringing materials into the business (inbound logistics),converting them into final products (operations),shipping out final products (outbound logistics),marketing them (marketing and sales),and servicing them (service).

A strategic-planning gap can be corrected by ________.

A clear,thoughtful mission statement provides employees with a shared sense of purpose,direction,and ________.

Characterize a marketing plan.

A company that seeks to increase its sales and profits through backward,forward,or horizontal integration within the industry is said to be employing a(n)________ strategy.

In applying MBO (management by objectives)all objectives are treated as being equally important.

A marketing plan should open with a situation analysis.

Qantas,the Australian national carrier,introduces flights to the Middle East.This is an example of ________.

Good marketing is the art of finding,developing,and profiting from marketing opportunities.What are the three primary methods for uncovering possible product or service improvements?

An intensive growth strategy involving marketing current products to new markets is a market-development strategy.

While viewing businesses in terms of customer needs can suggest additional growth opportunities,a ________ tends to focus on selling a product or service to a current market.

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

Filters