Question 1

Each SBU pursues its own distinct mission and often develops its own plans independently.

Accepted Answer

A) True 
 B)False

Question 2

Caleb is the superintendent of a small school district in a rural area of Iowa with a population of 2,500 people. The school district participates in a wide variety of sports for girls and boys including softball, baseball, basketball, volleyball, track, wrestling, and cross country. Students may also be a member of over 12 clubs and organizations sponsored by the school. The school typically rates highly on state-wide tests and approximately 80% of high school graduates attend college. However, Caleb has difficulty in recruiting faculty to teach foreign language, physics, calculus, and computer science classes. It's difficult to recruit these teachers because they are in high demand and are often attracted to larger school districts that can provide higher salaries. Caleb knows the importance of STEM (science, technology, engineering, and math) to the United States and is concerned that the district may fall behind in its ability to prepare students for their future. In addition, Caleb hopes to increase the number of graduates who attend college since college degrees enable students to pursue careers with higher salaries and benefits. Assume that you are helping Caleb conduct a SWOT analysis. The statement related to the district's students performing well on state-wide tests would be categorized as a(n):

Accepted Answer

A)  strength 
B)  weakness 
C)  threat 
D)  opportunity 
A)  strength 
B)  weakness 
C)  threat 
D)  opportunity

Question 3

An organization typically includes its basic objectives, or goals, in a marketing plan.

Accepted Answer

A) True 
 B)False

Question 4

Preparation of quarterly and semiannual plans by personnel such as the general sales manager or advertising director would be classified as _____ planning.

Accepted Answer

A)  consumer 
B)  tactical 
C)  procedural 
D)  operational 
A)  consumer 
B)  tactical 
C)  procedural 
D)  operational

Question 5

Caleb is the superintendent of a small school district in a rural area of Iowa with a population of 2,500 people. The school district participates in a wide variety of sports for girls and boys including softball, baseball, basketball, volleyball, track, wrestling, and cross country. Students may also be a member of over 12 clubs and organizations sponsored by the school. The school typically rates highly on state-wide tests and approximately 80% of high school graduates attend college. However, Caleb has difficulty in recruiting faculty to teach foreign language, physics, calculus, and computer science classes. It's difficult to recruit these teachers because they are in high demand and are often attracted to larger school districts that can provide higher salaries. Caleb knows the importance of STEM (science, technology, engineering, and math) to the United States and is concerned that the district may fall behind in its ability to prepare students for their future. In addition, Caleb hopes to increase the number of graduates who attend college since college degrees enable students to pursue careers with higher salaries and benefits. Assume that you are helping Caleb conduct a SWOT analysis. The district's inability to compete with larger school systems that can pay higher starting salaries to teachers certified in foreign language, calculus, physics, and computer science would be categorized as a(n):

Accepted Answer

A)  weakness 
B)  opportunity 
C)  threat 
D)  strength 
A)  weakness 
B)  opportunity 
C)  threat 
D)  strength

Question 6

The U.S. Sports and Fitness Federation is determining where they should build their permanent training facility. They want it to be located near a populated center but it must also provide ample access to those who don't reside in cities. The federation is engaged in _____ planning.

Accepted Answer

A)  strategic 
B)  short-term 
C)  operational 
D)  economic 
A)  strategic 
B)  short-term 
C)  operational 
D)  economic

Question 7

Define marketing planning.

Accepted Answer

Marketing planning is the process of imp

Question 8

The BCG (Boston Consulting Group) matrix places strategic business units into which of the following four-quadrants:

Accepted Answer

A)  Strengths, Weaknesses, Opportunities, and Threats 
B)  Oligopoly, Monopoly, Monopolistic Competition, and Perfect Competition 
C)  Micro, Small, Medium, and Large 
D)  North, South, East, and West 
E)  Stars, Cash Cows, Question Marks, and Dogs 
A)  Strengths, Weaknesses, Opportunities, and Threats 
B)  Oligopoly, Monopoly, Monopolistic Competition, and Perfect Competition 
C)  Micro, Small, Medium, and Large 
D)  North, South, East, and West 
E)  Stars, Cash Cows, Question Marks, and Dogs

Question 9

Long-term plans focusing on those organizational objectives that will significantly affect a firm are usually referred to as _____ plans.

Accepted Answer

A)  strategic 
B)  marketing 
C)  economic 
D)  tactical 
A)  strategic 
B)  marketing 
C)  economic 
D)  tactical

Question 10

Planning often is classified on the basis of its scope or breadth.

Accepted Answer

A) True 
 B)False

Question 11

Danica is a sales manager with Kind, manufacturers of natural snacks such as protein bars, healthy grain bars, and breakfast bars. Danica typically schedules quarterly meetings with her 8 sales representatives where they collaborate to develop their weekly and daily account plans. These meetings reflect Danica's efforts to engage in _____ planning.

Accepted Answer

A)  operational 
B)  tactical 
C)  strategic 
D)  calendar 
A)  operational 
B)  tactical 
C)  strategic 
D)  calendar

Question 12

Each strategic business unit (SBU) in a firm has to prepare its plans in collaboration with other units in the organization.

Accepted Answer

A) True 
 B)False

Question 13

Marketing planning establishes the:

Accepted Answer

A)  resource base provided by the firm's strategy. 
B)  economic impact of additional sales. 
C)  daily and weekly schedules for individual employees. 
D)  basis for a firm's marketing strategy and tactics. 
A)  resource base provided by the firm's strategy. 
B)  economic impact of additional sales. 
C)  daily and weekly schedules for individual employees. 
D)  basis for a firm's marketing strategy and tactics.

Question 14

​You've just started a new job as Chief Marketing Officer for a restaurant chain, and you've learned that the marketing planning process is already underway. In fact, the first two steps have been completed. What do you need to do now?

Accepted Answer

A)  ​Define the chain's mission. 
B)  ​Determine the chain's specific objectives. 
C)  ​Formulate a marketing strategy. 
D)  ​Implement strategy. 
E)  ​Assess organizational resources and opportunities. 
A)  ​Define the chain's mission. 
B)  ​Determine the chain's specific objectives. 
C)  ​Formulate a marketing strategy. 
D)  ​Implement strategy. 
E)  ​Assess organizational resources and opportunities.

Question 15

Promotional schemes like frequent shopper programs provide incentives to loyal buyers. Considering Porter's Five Forces model, such offers will:

Accepted Answer

A)  reduce the threat of new entrants. 
B)  decrease the rivalry among competitors. 
C)  decrease the bargaining power of the supplier. 
D)  increase the threat of substitute products. 
A)  reduce the threat of new entrants. 
B)  decrease the rivalry among competitors. 
C)  decrease the bargaining power of the supplier. 
D)  increase the threat of substitute products.

Question 16

As chief executive of Stalwart Shipfitting Company, a diversified producer of marine supplies and equipment, John needs a method for spotting promising product lines that warrant commitment of additional resources, as well as those that should be removed from the firm's product portfolio. A good choice for this firm at this stage would be to use:

Accepted Answer

A)  computer models. 
B)  strategic business units. 
C)  a marketing audit. 
D)  an industry analysis. 
A)  computer models. 
B)  strategic business units. 
C)  a marketing audit. 
D)  an industry analysis.

Question 17

Enterprise Rental Cars is able to secure favorable prices from major automobile manufacturers such as Ford and Chevrolet for their rental fleets due to the large number of vehicles they purchase each year. This is an example of _____, one of Porter's Five Forces related to marketplace competition.

Accepted Answer

A)  threat of new competitors 
B)  distinctive competency 
C)  buyer power 
D)  threat of substitutes 
A)  threat of new competitors 
B)  distinctive competency 
C)  buyer power 
D)  threat of substitutes

Question 18

Every company, whether for-profit or not-for-profit, must plan. Otherwise, the company will find itself reacting to future events rather than proactively positioning itself to take advantage of future events. ​
Which of the following statements is false in regards to strategic planning?​

Accepted Answer

A)  ​It includes the process of determining the organization's primary objectives. 
B)  ​It is done after the company completes its tactical planning activities. 
C)  ​It involves choosing actions that will facilitate the achievement of its primary objectives. 
D)  ​It provides longer term guidance for the marketers and other decision makers in the firm. 
E)  ​It establishes the company objectives that are used to develop the tactical plan. 
A)  ​It includes the process of determining the organization's primary objectives. 
B)  ​It is done after the company completes its tactical planning activities. 
C)  ​It involves choosing actions that will facilitate the achievement of its primary objectives. 
D)  ​It provides longer term guidance for the marketers and other decision makers in the firm. 
E)  ​It establishes the company objectives that are used to develop the tactical plan.

Question 19

Define and explain the term "planning" in the context of marketing.

Accepted Answer

Planning is the process of anticipating

Question 20

The Original Penguin clothing brand which features a cute penguin with a tie wrapped around its neck has made a successful comeback to men's fashions since 2003. The brand is popular among young men and the company recently articulated its interest in generating a 10% increase in sales among college students in the United States for the next year. Which step in the marketing planning process best corresponds to the articulation of a 10% increase in sales?

Accepted Answer

A)  Determine organizational objectives 
B)  Assess organizational resources and evaluate risks and opportunities 
C)  Formulate strategy 
D)  Implement strategy through operational plans 
A)  Determine organizational objectives 
B)  Assess organizational resources and evaluate risks and opportunities 
C)  Formulate strategy 
D)  Implement strategy through operational plans

Each SBU pursues its own distinct mission and often develops its own plans independently.

An organization typically includes its basic objectives, or goals, in a marketing plan.

Preparation of quarterly and semiannual plans by personnel such as the general sales manager or advertising director would be classified as _____ planning.

The U.S. Sports and Fitness Federation is determining where they should build their permanent training facility. They want it to be located near a populated center but it must also provide ample access to those who don't reside in cities. The federation is engaged in _____ planning.

Define marketing planning.

The BCG (Boston Consulting Group) matrix places strategic business units into which of the following four-quadrants:

Long-term plans focusing on those organizational objectives that will significantly affect a firm are usually referred to as _____ plans.

Planning often is classified on the basis of its scope or breadth.

Each strategic business unit (SBU) in a firm has to prepare its plans in collaboration with other units in the organization.

Marketing planning establishes the:

You've just started a new job as Chief Marketing Officer for a restaurant chain, and you've learned that the marketing planning process is already underway. In fact, the first two steps have been completed. What do you need to do now?

Promotional schemes like frequent shopper programs provide incentives to loyal buyers. Considering Porter's Five Forces model, such offers will:

Enterprise Rental Cars is able to secure favorable prices from major automobile manufacturers such as Ford and Chevrolet for their rental fleets due to the large number of vehicles they purchase each year. This is an example of _____, one of Porter's Five Forces related to marketplace competition.

Every company, whether for-profit or not-for-profit, must plan. Otherwise, the company will find itself reacting to future events rather than proactively positioning itself to take advantage of future events. Which of the following statements is false in regards to strategic planning?

Define and explain the term "planning" in the context of marketing.

Marketing: the Art of Satisfying Customers

The Marketing Environment, Ethics, and Social Responsibility

E-Business: Managing the Customer Experience

Social Media: Living in the Connected World

Consumer Behavior

Business Markets and Buying Behavior

Global Marketing

Market Segmentation, Targeting, and Positioning

Marketing Research

Product and Branding Concepts

Developing and Managing Products

Pricing Concepts

Pricing Strategies

Distribution Channels and Supply Chain Management

Retailing and Direct Marketing

Integrated Marketing Communications

Personal Selling and Sales Promotion

Creating A Marketing Plan

Financial Analysis In Marketing

Your Career In Marketing

Filters

Exam 2: Strategic Planning in Contemporary Marketing

Each SBU pursues its own distinct mission and often develops its own plans independently.

An organization typically includes its basic objectives, or goals, in a marketing plan.

Preparation of quarterly and semiannual plans by personnel such as the general sales manager or advertising director would be classified as _____ planning.

The U.S. Sports and Fitness Federation is determining where they should build their permanent training facility. They want it to be located near a populated center but it must also provide ample access to those who don't reside in cities. The federation is engaged in _____ planning.

Define marketing planning.

The BCG (Boston Consulting Group) matrix places strategic business units into which of the following four-quadrants:

Long-term plans focusing on those organizational objectives that will significantly affect a firm are usually referred to as _____ plans.

Planning often is classified on the basis of its scope or breadth.

Each strategic business unit (SBU) in a firm has to prepare its plans in collaboration with other units in the organization.

Marketing planning establishes the:

​You've just started a new job as Chief Marketing Officer for a restaurant chain, and you've learned that the marketing planning process is already underway. In fact, the first two steps have been completed. What do you need to do now?

Promotional schemes like frequent shopper programs provide incentives to loyal buyers. Considering Porter's Five Forces model, such offers will:

Enterprise Rental Cars is able to secure favorable prices from major automobile manufacturers such as Ford and Chevrolet for their rental fleets due to the large number of vehicles they purchase each year. This is an example of _____, one of Porter's Five Forces related to marketplace competition.

Every company, whether for-profit or not-for-profit, must plan. Otherwise, the company will find itself reacting to future events rather than proactively positioning itself to take advantage of future events. ​ Which of the following statements is false in regards to strategic planning?​

Define and explain the term "planning" in the context of marketing.

Marketing: the Art of Satisfying Customers

The Marketing Environment, Ethics, and Social Responsibility

E-Business: Managing the Customer Experience

Social Media: Living in the Connected World

Consumer Behavior

Business Markets and Buying Behavior

Global Marketing

Market Segmentation, Targeting, and Positioning

Marketing Research

Product and Branding Concepts

Developing and Managing Products

Pricing Concepts

Pricing Strategies

Distribution Channels and Supply Chain Management

Retailing and Direct Marketing

Integrated Marketing Communications

Personal Selling and Sales Promotion

Creating A Marketing Plan

Financial Analysis In Marketing

Your Career In Marketing

Filters

You've just started a new job as Chief Marketing Officer for a restaurant chain, and you've learned that the marketing planning process is already underway. In fact, the first two steps have been completed. What do you need to do now?

Every company, whether for-profit or not-for-profit, must plan. Otherwise, the company will find itself reacting to future events rather than proactively positioning itself to take advantage of future events. Which of the following statements is false in regards to strategic planning?