Question 1

Typically,each element of an action plan is linked to a budget item.

Accepted Answer

A) True 
 B)False

Question 2

How is business planning different in a large firm in comparison to business planning in a small company?

Accepted Answer

In a large firm,business planning is a m

Question 3

Campbell's Soup advertised new uses for soup in lunches and dinners to encourage customers to eat more soup.The company also conducted promotions aimed at attracting users of competing soup brands.What growth strategy was Campbell's implementing? Explain.

Accepted Answer

Campbell's implemented the mar

Question 4

A firm's internal business environment does NOT include its ________.

Accepted Answer

A) employees 
B) corporate culture 
C) products 
D) technologies 
E) customers 
A) employees 
B) corporate culture 
C) products 
D) technologies 
E) customers

Question 5

Areas of business within a firm that are distinct enough to have their own missions,business objectives,resources,managers,and competitors are referred to as ________.

Accepted Answer

A) strategic business units 
B) market development units 
C) market penetration units 
D) standard business units 
E) competitive intelligence units 
A) strategic business units 
B) market development units 
C) market penetration units 
D) standard business units 
E) competitive intelligence units

Question 6

The distribution strategy is the place component of the marketing mix.

Accepted Answer

A) True 
 B)False

Question 7

A sales manager sets an objective for her team to increase the units sold by five percent for the quarter.This objective is most likely part of a detailed ________ plan that is created annually,semiannually,or quarterly.

Accepted Answer

A) strategic 
B) functional 
C) operational 
D) product development 
E) human resources 
A) strategic 
B) functional 
C) operational 
D) product development 
E) human resources

Question 8

A mission statement is a formal document that describes the organization's overall purpose and what it hopes to achieve in terms of its products,resources,and ________.

Accepted Answer

A) customers 
B) profits 
C) employees 
D) shareholders 
E) competitors 
A) customers 
B) profits 
C) employees 
D) shareholders 
E) competitors

Question 9

A situation analysis is also known as a(n)________.

Accepted Answer

A) business review 
B) portfolio analysis 
C) market review 
D) growth strategy review 
E) action plan 
A) business review 
B) portfolio analysis 
C) market review 
D) growth strategy review 
E) action plan

Question 10

________ decisions identify how marketing will accomplish its objectives in the target markets by using product,price,promotion,and place.

Accepted Answer

A) Marketing metrics 
B) Strategic business unit 
C) Return on marketing investment 
D) Marketing mix 
E) Strategic planning 
A) Marketing metrics 
B) Strategic business unit 
C) Return on marketing investment 
D) Marketing mix 
E) Strategic planning

Question 11

Briefly describe the four qualities SBU objectives should have.Why are these qualities important?

Accepted Answer

SBU objectives should be specific,measur

Question 12

The ROMI of a campaign is an example of a(n)________.

Accepted Answer

A) promotion 
B) marketing metric 
C) action plan 
D) situation analysis 
E) promotional strategy 
A) promotion 
B) marketing metric 
C) action plan 
D) situation analysis 
E) promotional strategy

Question 13

Briefly discuss how marketers measure return on marketing investment.Explain why this figure may not be sufficient to judge marketing's effectiveness.

Accepted Answer

Return on marketing investment (ROMI)is

Question 14

Which of the following most accurately identifies a difference between a weakness and a threat in SWOT analysis?

Accepted Answer

A) A company is more able to change a threat than a weakness. 
B) A company is more able to change a weakness than a threat. 
C) A company can be more negatively affected by a weakness than by a threat. 
D) A company can be more negatively affected by a threat than by a weakness. 
E) A company can more easily identify threats than weaknesses. 
A) A company is more able to change a threat than a weakness. 
B) A company is more able to change a weakness than a threat. 
C) A company can be more negatively affected by a weakness than by a threat. 
D) A company can be more negatively affected by a threat than by a weakness. 
E) A company can more easily identify threats than weaknesses.

Question 15

Product planners for JetBlue Airways decided to include in-seat video games and television during flights.This is an example of a ________ for JetBlue.

Accepted Answer

A) target market selection strategy 
B) pricing strategy 
C) control process 
D) product strategy 
E) marketing metric 
A) target market selection strategy 
B) pricing strategy 
C) control process 
D) product strategy 
E) marketing metric

Question 16

According to the BCG growth-market share matrix,________ are strategic business units with products that have a small share of a slow-growth market.

Accepted Answer

A) dogs 
B) exclamation points 
C) cash cows 
D) stars 
E) question marks 
A) dogs 
B) exclamation points 
C) cash cows 
D) stars 
E) question marks

Question 17

________ is the managerial decision process that matches the organization's resources and capabilities to its market opportunities for long-term growth.

Accepted Answer

A) Operational planning 
B) Strategic planning 
C) Portfolio analysis 
D) SWOT analysis 
E) Marketing planning 
A) Operational planning 
B) Strategic planning 
C) Portfolio analysis 
D) SWOT analysis 
E) Marketing planning

Question 18

Briefly describe the purpose and components of an action plan.

Accepted Answer

An action plan,sometimes referred to as

Question 19

Which of the following is a common objection to relying exclusively on ROMI for measuring marketing success?

Accepted Answer

A) In a company's accounting statements,marketing expenditures tend to appear as investments rather than costs. 
B) Calculating ROMI requires knowing what would have happened if the marketing expenditures had never taken place. 
C) ROMI tends to lead managers toward a more long-term perspective on decision making. 
D) ROMI focuses on a firm's sustainability commitments to the detriment of its short-term performance. 
E) ROMI calculates profit by deducting expenditures rather than dividing by expenditures. 
A) In a company's accounting statements,marketing expenditures tend to appear as investments rather than costs. 
B) Calculating ROMI requires knowing what would have happened if the marketing expenditures had never taken place. 
C) ROMI tends to lead managers toward a more long-term perspective on decision making. 
D) ROMI focuses on a firm's sustainability commitments to the detriment of its short-term performance. 
E) ROMI calculates profit by deducting expenditures rather than dividing by expenditures.

Question 20

Effective objectives should be all of the following EXCEPT which one of the following?

Accepted Answer

A) aspirational 
B) specific 
C) attainable 
D) sustainable 
E) measurable 
A) aspirational 
B) specific 
C) attainable 
D) sustainable 
E) measurable

Typically,each element of an action plan is linked to a budget item.

How is business planning different in a large firm in comparison to business planning in a small company?

Campbell's Soup advertised new uses for soup in lunches and dinners to encourage customers to eat more soup.The company also conducted promotions aimed at attracting users of competing soup brands.What growth strategy was Campbell's implementing? Explain.

A firm's internal business environment does NOT include its ________.

Areas of business within a firm that are distinct enough to have their own missions,business objectives,resources,managers,and competitors are referred to as ________.

The distribution strategy is the place component of the marketing mix.

A sales manager sets an objective for her team to increase the units sold by five percent for the quarter.This objective is most likely part of a detailed ________ plan that is created annually,semiannually,or quarterly.

A mission statement is a formal document that describes the organization's overall purpose and what it hopes to achieve in terms of its products,resources,and ________.

A situation analysis is also known as a(n)________.

________ decisions identify how marketing will accomplish its objectives in the target markets by using product,price,promotion,and place.

Briefly describe the four qualities SBU objectives should have.Why are these qualities important?

The ROMI of a campaign is an example of a(n)________.

Briefly discuss how marketers measure return on marketing investment.Explain why this figure may not be sufficient to judge marketing's effectiveness.

Which of the following most accurately identifies a difference between a weakness and a threat in SWOT analysis?

Product planners for JetBlue Airways decided to include in-seat video games and television during flights.This is an example of a ________ for JetBlue.

According to the BCG growth-market share matrix,________ are strategic business units with products that have a small share of a slow-growth market.

________ is the managerial decision process that matches the organization's resources and capabilities to its market opportunities for long-term growth.

Briefly describe the purpose and components of an action plan.

Which of the following is a common objection to relying exclusively on ROMI for measuring marketing success?

Effective objectives should be all of the following EXCEPT which one of the following?

Welcome to the World of Marketing

Global, ethical, and Sustainable Marketing

Market Research

Marketing Analytics: Welcome to the Era of Big Data

Understand Consumer and Business Markets

Segmentation,target Marketing,and Positioning

Innovation and New Product Development

Product II: Product Strategy,branding,and Product Management

Price: What Is the Value Proposition Worth

Deliver Value Through Supply Chain Management,channels of Distribution,and Logistics

Delivering the Customer Experience: Bricks and Clicks

Promotion I: Advertising and Sales Promotion

Promotion II: Social Media, directdatabase Marketing, personal Selling, and Public Relations

Filters

Exam 3: Strategic Market Planning

Typically,each element of an action plan is linked to a budget item.

How is business planning different in a large firm in comparison to business planning in a small company?

Campbell's Soup advertised new uses for soup in lunches and dinners to encourage customers to eat more soup.The company also conducted promotions aimed at attracting users of competing soup brands.What growth strategy was Campbell's implementing? Explain.

A firm's internal business environment does NOT include its ________.

Areas of business within a firm that are distinct enough to have their own missions,business objectives,resources,managers,and competitors are referred to as ________.

The distribution strategy is the place component of the marketing mix.

A sales manager sets an objective for her team to increase the units sold by five percent for the quarter.This objective is most likely part of a detailed ________ plan that is created annually,semiannually,or quarterly.

A mission statement is a formal document that describes the organization's overall purpose and what it hopes to achieve in terms of its products,resources,and ________.

A situation analysis is also known as a(n)________.

________ decisions identify how marketing will accomplish its objectives in the target markets by using product,price,promotion,and place.

Briefly describe the four qualities SBU objectives should have.Why are these qualities important?

The ROMI of a campaign is an example of a(n)________.

Briefly discuss how marketers measure return on marketing investment.Explain why this figure may not be sufficient to judge marketing's effectiveness.

Which of the following most accurately identifies a difference between a weakness and a threat in SWOT analysis?

Product planners for JetBlue Airways decided to include in-seat video games and television during flights.This is an example of a ________ for JetBlue.

According to the BCG growth-market share matrix,________ are strategic business units with products that have a small share of a slow-growth market.

________ is the managerial decision process that matches the organization's resources and capabilities to its market opportunities for long-term growth.

Briefly describe the purpose and components of an action plan.

Which of the following is a common objection to relying exclusively on ROMI for measuring marketing success?

Effective objectives should be all of the following EXCEPT which one of the following?

Welcome to the World of Marketing

Global, ethical, and Sustainable Marketing

Market Research

Marketing Analytics: Welcome to the Era of Big Data

Understand Consumer and Business Markets

Segmentation,target Marketing,and Positioning

Innovation and New Product Development

Product II: Product Strategy,branding,and Product Management

Price: What Is the Value Proposition Worth

Deliver Value Through Supply Chain Management,channels of Distribution,and Logistics

Delivering the Customer Experience: Bricks and Clicks

Promotion I: Advertising and Sales Promotion

Promotion II: Social Media, directdatabase Marketing, personal Selling, and Public Relations

Filters