Question 1

Value delivery process can be divided into three phases,out of which "choosing the value" implies _______,which is the essence of strategic marketing.

Accepted Answer

A) segmentation,developing,and delivering 
B) targeting,positioning,and communicating 
C) targeting,positioning,and delivering 
D) segmentation,targeting,and positioning 
E) researching,developing,and delivering 
A) segmentation,developing,and delivering 
B) targeting,positioning,and communicating 
C) targeting,positioning,and delivering 
D) segmentation,targeting,and positioning 
E) researching,developing,and delivering

Question 2

Which of the following elements of a marketing plan permits senior management to grasp the organization's main goals and recommendations?

Accepted Answer

A) the situation analysis 
B) the marketing strategy 
C) the executive summary 
D) the financial projections 
E) the short-term targets 
A) the situation analysis 
B) the marketing strategy 
C) the executive summary 
D) the financial projections 
E) the short-term targets

Question 3

Hong Kong's Li & Fung manages Avon's supply chain.The best description of this form of alliance would be a(n)________.

Accepted Answer

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

Question 4

What is the traditional view of marketing?

Accepted Answer

A) Firms should just focus on production because if the products are good then they will automatically sell. 
B) Firms should just focus on making something and then selling it. 
C) Firms should have a proper marketing team that can increase consumers' awareness of their products and rouse their interest in them. 
D) Firms should price their products as low as possible so that marketing them becomes easy. 
E) Firms should remember that promotion is the most important of the four Ps. 
A) Firms should just focus on production because if the products are good then they will automatically sell. 
B) Firms should just focus on making something and then selling it. 
C) Firms should have a proper marketing team that can increase consumers' awareness of their products and rouse their interest in them. 
D) Firms should price their products as low as possible so that marketing them becomes easy. 
E) Firms should remember that promotion is the most important of the four Ps.

Question 5

A ________ tends to focus on selling a product or service.

Accepted Answer

A) target market definition 
B) strategic market definition 
C) mass-market definition 
D) differentiated market definition 
E) integrated market definition 
A) target market definition 
B) strategic market definition 
C) mass-market definition 
D) differentiated market definition 
E) integrated market definition

Question 6

Another name for a company's value delivery network is "distribution chain."

Accepted Answer

A) True 
 B)False

Question 7

Good mission statements should be long and clear,should emphasize on a wide range of goals,and stress on the company's major policies and values.

Accepted Answer

A) True 
 B)False

Question 8

A company's organization consists of its structures,policies,and corporate culture,all of which can become dysfunctional in a _______________ business environment.

Accepted Answer

A) competitive 
B) global 
C) rapidly changing 
D) stagnant 
E) local 
A) competitive 
B) global 
C) rapidly changing 
D) stagnant 
E) local

Question 9

________ allows the company to discover who its target markets are,how they behave,and what they need or want.It also enables the company to respond appropriately,coherently,and quickly to different customer opportunities.

Accepted Answer

A) Network management 
B) Supply chain management 
C) Marketing management 
D) Customer relationship management 
E) Total quality management 
A) Network management 
B) Supply chain management 
C) Marketing management 
D) Customer relationship management 
E) Total quality management

Question 10

When a firm aims to underprice competitors and win market share,it is using a(n)________ strategy that requires relatively less marketing skills as compared to other strategies.

Accepted Answer

A) product differentiation 
B) overall cost leadership 
C) focus 
D) domestic customer relationship 
E) price skimming 
A) product differentiation 
B) overall cost leadership 
C) focus 
D) domestic customer relationship 
E) price skimming

Question 11

A strategy is a game plan for achieving long-run objectives.

Accepted Answer

A) True 
 B)False

Question 12

The fulfillment management process includes all the activities in ________.

Accepted Answer

A) gathering and acting upon information about the market 
B) researching,developing,and launching new high-quality offerings quickly and within budget standards 
C) defining target markets and prospecting for new customers 
D) building deeper understanding,relationships,and offerings to individual customers 
E) receiving and approving orders,shipping the goods on time,and collecting payment 
A) gathering and acting upon information about the market 
B) researching,developing,and launching new high-quality offerings quickly and within budget standards 
C) defining target markets and prospecting for new customers 
D) building deeper understanding,relationships,and offerings to individual customers 
E) receiving and approving orders,shipping the goods on time,and collecting payment

Question 13

The last step in the value creation and delivery sequence is ________ the value where the sales force,sales promotion,advertising,and other communication tools announce and promote the product.

Accepted Answer

A) developing 
B) positioning 
C) communicating 
D) reversing 
E) researching 
A) developing 
B) positioning 
C) communicating 
D) reversing 
E) researching

Question 14

A written document that summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives is called a vision statement.

Accepted Answer

A) True 
 B)False

Question 15

Gerber primarily serves the baby food market.In choosing to focus on this market,Gerber is defining its competitive sphere on the basis of ________.

Accepted Answer

A) vertical segmentation 
B) backward integration 
C) market segmentation 
D) diversification 
E) differentiation 
A) vertical segmentation 
B) backward integration 
C) market segmentation 
D) diversification 
E) differentiation

Question 16

A firm's core competency has applications only in the specific market in which the firm operates.

Accepted Answer

A) True 
 B)False

Question 17

Explain what happens in a SWOT analysis during the strategic planning process.

Accepted Answer

SWOT (strengths,weaknesses,opportunities

Question 18

The ________ is the number of channel levels,from raw materials to final product and distribution,in which a company will participate.

Accepted Answer

A) industry sphere 
B) vertical sphere 
C) product/application sphere 
D) competence sphere 
E) market segment sphere 
A) industry sphere 
B) vertical sphere 
C) product/application sphere 
D) competence sphere 
E) market segment sphere

Question 19

If you were the CEO of a company that was looking to implement strategies to fill a perceived strategic-planning gap,you would most likely explore ________ strategy first because it is easier to improve an existing business than to build a new one.

Accepted Answer

A) market-penetration 
B) market-development 
C) diversification 
D) product-development 
E) exclusive 
A) market-penetration 
B) market-development 
C) diversification 
D) product-development 
E) exclusive

Question 20

In the cycle of complete strategic planning,taking corrective action is a part of ________.

Accepted Answer

A) planning 
B) implementation 
C) controlling 
D) organizing 
E) analyzing 
A) planning 
B) implementation 
C) controlling 
D) organizing 
E) analyzing

Exam 2: Developing Marketing Strategies and Plans

Value delivery process can be divided into three phases,out of which "choosing the value" implies _______,which is the essence of strategic marketing.

Which of the following elements of a marketing plan permits senior management to grasp the organization's main goals and recommendations?

Hong Kong's Li & Fung manages Avon's supply chain.The best description of this form of alliance would be a(n)________.

What is the traditional view of marketing?

A ________ tends to focus on selling a product or service.

Another name for a company's value delivery network is "distribution chain."

Good mission statements should be long and clear,should emphasize on a wide range of goals,and stress on the company's major policies and values.

A company's organization consists of its structures,policies,and corporate culture,all of which can become dysfunctional in a _______________ business environment.

________ allows the company to discover who its target markets are,how they behave,and what they need or want.It also enables the company to respond appropriately,coherently,and quickly to different customer opportunities.

When a firm aims to underprice competitors and win market share,it is using a(n)________ strategy that requires relatively less marketing skills as compared to other strategies.

A strategy is a game plan for achieving long-run objectives.

The fulfillment management process includes all the activities in ________.

The last step in the value creation and delivery sequence is ________ the value where the sales force,sales promotion,advertising,and other communication tools announce and promote the product.

A written document that summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives is called a vision statement.

Gerber primarily serves the baby food market.In choosing to focus on this market,Gerber is defining its competitive sphere on the basis of ________.

A firm's core competency has applications only in the specific market in which the firm operates.

Explain what happens in a SWOT analysis during the strategic planning process.

The ________ is the number of channel levels,from raw materials to final product and distribution,in which a company will participate.

If you were the CEO of a company that was looking to implement strategies to fill a perceived strategic-planning gap,you would most likely explore ________ strategy first because it is easier to improve an existing business than to build a new one.

In the cycle of complete strategic planning,taking corrective action is a part of ________.

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