Question 1

Assignment of responsibilities,time lines,budgets,and measurement and control processes are documented in a(n)________.

Accepted Answer

A) price strategy 
B) promotion strategy 
C) action plan 
D) strategic plan 
E) marketing mix 
A) price strategy 
B) promotion strategy 
C) action plan 
D) strategic plan 
E) marketing mix

Question 2

Questions such as "What business are we in?" and "What customers should we serve?" are typically addressed in the ________ stage.

Accepted Answer

A) operational planning 
B) strategic planning 
C) market targeting 
D) functional planning 
E) market planning 
A) operational planning 
B) strategic planning 
C) market targeting 
D) functional planning 
E) market planning

Question 3

The market for two-way radios is disappearing.A company with a small share of the two-way radio market would be considered a ________ in terms of the BCG growth-market share matrix.

Accepted Answer

A) problem child 
B) dog 
C) cash cow 
D) star 
E) question mark 
A) problem child 
B) dog 
C) cash cow 
D) star 
E) question mark

Question 4

Making adjustments to the marketing plan is part of which stage of market planning?

Accepted Answer

A) SWOT analysis 
B) portfolio analysis 
C) implementation and control of the marketing plan 
D) situation analysis 
E) development of marketing objectives 
A) SWOT analysis 
B) portfolio analysis 
C) implementation and control of the marketing plan 
D) situation analysis 
E) development of marketing objectives

Question 5

According to the BCG growth-market share matrix,________ are strategic business units with products that have a dominant market share in a low-growth potential 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 6

In a marketing plan,the ________ state what the marketing function must accomplish to achieve overall business objectives.

Accepted Answer

A) situation analyses 
B) strategic plans 
C) marketing objectives 
D) market development strategies 
E) marketing controls 
A) situation analyses 
B) strategic plans 
C) marketing objectives 
D) market development strategies 
E) marketing controls

Question 7

A business plan ________.

Accepted Answer

A) is a document that outlines marketing strategies step by step 
B) identifies how a company will measure and control specific marketing strategies 
C) is another name for a marketing plan 
D) includes the decisions that guide the entire organization or its business units 
E) is another name for a SWOT analysis 
A) is a document that outlines marketing strategies step by step 
B) identifies how a company will measure and control specific marketing strategies 
C) is another name for a marketing plan 
D) includes the decisions that guide the entire organization or its business units 
E) is another name for a SWOT analysis

Question 8

Strategic planning for a large firm such as Disney with several SBUs probably occurs ________.

Accepted Answer

A) only in its corporate headquarters 
B) only at the individual business unit level 
C) at both the overall corporate level and at the individual SBU level 
D) as needed based upon the success of the division 
E) at the location best suited for this function based upon findings of the SWOT analysis 
A) only in its corporate headquarters 
B) only at the individual business unit level 
C) at both the overall corporate level and at the individual SBU level 
D) as needed based upon the success of the division 
E) at the location best suited for this function based upon findings of the SWOT analysis

Question 9

The second step in strategic planning is to ________.

Accepted Answer

A) formalize a mission statement 
B) establish the business portfolio 
C) set SBU and department-level objectives 
D) set organizational objectives 
E) assess the organization's internal and external environments 
A) formalize a mission statement 
B) establish the business portfolio 
C) set SBU and department-level objectives 
D) set organizational objectives 
E) assess the organization's internal and external environments

Question 10

The three levels of business planning are ________.

Accepted Answer

A) managerial,operational,promotional 
B) strategic,functional,operational 
C) portfolio,strategic,functional 
D) SWOT,strategic,tactical 
E) operational,functional,tactical 
A) managerial,operational,promotional 
B) strategic,functional,operational 
C) portfolio,strategic,functional 
D) SWOT,strategic,tactical 
E) operational,functional,tactical

Question 11

Define strategic planning.Discuss the steps involved.

Accepted Answer

The process of matching a firm's resourc

Question 12

Serengeti makes lightweight sunglasses with 100 percent UV protection for people who love to hunt,hike,and bike ride.Its long-term plans include the development of lenses that,in addition to protecting users from UV rays,will also have effective water-sheeting action to reduce lens spotting.This new feature will be valuable to people who fish.In terms of a SWOT analysis,the company believes it can use the ________ of its reputation as a sunglasses manufacturer for a specialized market in combination with its current manufacturing facilities and labor force to enter this new market.

Accepted Answer

A) weight 
B) strength 
C) threat 
D) opportunity 
E) trend 
A) weight 
B) strength 
C) threat 
D) opportunity 
E) trend

Question 13

A firm's pricing strategy includes plans for prices for the final consumer as well as pricing that the firm will charge wholesalers and retailers.

Accepted Answer

A) True 
 B)False

Question 14

The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market.In order to increase market share,managers would be most likely to decide which of the following?

Accepted Answer

A) hold the pharmaceuticals division's share 
B) implement a harvest strategy 
C) use money from a cash cow to promote the pharmaceuticals division 
D) divest the SBU 
E) diversify the pharmaceutical division 
A) hold the pharmaceuticals division's share 
B) implement a harvest strategy 
C) use money from a cash cow to promote the pharmaceuticals division 
D) divest the SBU 
E) diversify the pharmaceutical division

Question 15

In the ________ stage of market planning,marketers must determine how they want consumers to think of their product in comparison to competing products.

Accepted Answer

A) develop a mission statement 
B) perform a situation analysis 
C) develop marketing strategies 
D) develop distribution strategies 
E) implement the plan 
A) develop a mission statement 
B) perform a situation analysis 
C) develop marketing strategies 
D) develop distribution strategies 
E) implement the plan

Question 16

The ________ provides managers with four different fundamental marketing strategies: market penetration,market development,product development,and diversification.

Accepted Answer

A) BCG growth-market share matrix 
B) portfolio analysis 
C) strategic plan 
D) SWOT analysis 
E) product-market growth matrix 
A) BCG growth-market share matrix 
B) portfolio analysis 
C) strategic plan 
D) SWOT analysis 
E) product-market growth matrix

Question 17

________ strategies emphasize both new products and new markets to achieve growth.

Accepted Answer

A) Diversification 
B) Market penetration 
C) Market development 
D) Product development 
E) Cash cow 
A) Diversification 
B) Market penetration 
C) Market development 
D) Product development 
E) Cash cow

Question 18

There are ________ different types of SBUs represented within the BCG growth-market share matrix.

Accepted Answer

A) two 
B) three 
C) four 
D) five 
E) six 
A) two 
B) three 
C) four 
D) five 
E) six

Question 19

Action plans are often referred to as ________.

Accepted Answer

A) marketing mixes 
B) marketing programs 
C) ROMI measures 
D) marketing metrics 
E) promotional strategies 
A) marketing mixes 
B) marketing programs 
C) ROMI measures 
D) marketing metrics 
E) promotional strategies

Question 20

Which of the following is a true statement about business planning?

Accepted Answer

A) Business planning involves taking action before developing objectives. 
B) Business planning is an ongoing process. 
C) Business planning is concerned with the long term but not the short term. 
D) Business planning is concerned with the short term but not the long term. 
E) Business planning takes place after development of the marketing plan. 
A) Business planning involves taking action before developing objectives. 
B) Business planning is an ongoing process. 
C) Business planning is concerned with the long term but not the short term. 
D) Business planning is concerned with the short term but not the long term. 
E) Business planning takes place after development of the marketing plan.

Assignment of responsibilities,time lines,budgets,and measurement and control processes are documented in a(n)________.

Questions such as "What business are we in?" and "What customers should we serve?" are typically addressed in the ________ stage.

The market for two-way radios is disappearing.A company with a small share of the two-way radio market would be considered a ________ in terms of the BCG growth-market share matrix.

Making adjustments to the marketing plan is part of which stage of market planning?

According to the BCG growth-market share matrix,________ are strategic business units with products that have a dominant market share in a low-growth potential market.

In a marketing plan,the ________ state what the marketing function must accomplish to achieve overall business objectives.

A business plan ________.

Strategic planning for a large firm such as Disney with several SBUs probably occurs ________.

The second step in strategic planning is to ________.

The three levels of business planning are ________.

Define strategic planning.Discuss the steps involved.

A firm's pricing strategy includes plans for prices for the final consumer as well as pricing that the firm will charge wholesalers and retailers.

The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market.In order to increase market share,managers would be most likely to decide which of the following?

In the ________ stage of market planning,marketers must determine how they want consumers to think of their product in comparison to competing products.

The ________ provides managers with four different fundamental marketing strategies: market penetration,market development,product development,and diversification.

________ strategies emphasize both new products and new markets to achieve growth.

There are ________ different types of SBUs represented within the BCG growth-market share matrix.

Action plans are often referred to as ________.

Which of the following is a true statement about business planning?

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

Assignment of responsibilities,time lines,budgets,and measurement and control processes are documented in a(n)________.

Questions such as "What business are we in?" and "What customers should we serve?" are typically addressed in the ________ stage.

The market for two-way radios is disappearing.A company with a small share of the two-way radio market would be considered a ________ in terms of the BCG growth-market share matrix.

Making adjustments to the marketing plan is part of which stage of market planning?

According to the BCG growth-market share matrix,________ are strategic business units with products that have a dominant market share in a low-growth potential market.

In a marketing plan,the ________ state what the marketing function must accomplish to achieve overall business objectives.

A business plan ________.

Strategic planning for a large firm such as Disney with several SBUs probably occurs ________.

The second step in strategic planning is to ________.

The three levels of business planning are ________.

Define strategic planning.Discuss the steps involved.

A firm's pricing strategy includes plans for prices for the final consumer as well as pricing that the firm will charge wholesalers and retailers.

The pharmaceuticals division of Omni Healthcare holds low market share in a high-growth market.In order to increase market share,managers would be most likely to decide which of the following?

In the ________ stage of market planning,marketers must determine how they want consumers to think of their product in comparison to competing products.

The ________ provides managers with four different fundamental marketing strategies: market penetration,market development,product development,and diversification.

________ strategies emphasize both new products and new markets to achieve growth.

There are ________ different types of SBUs represented within the BCG growth-market share matrix.

Action plans are often referred to as ________.

Which of the following is a true statement about business planning?

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