Question 1

May firms, like the Altria Group, focus on diversification in their marketing strategies because they possess:

Accepted Answer

A)  many internal strengths and many external opportunities. 
B)  many internal weaknesses and many external opportunities. 
C)  many internal strengths and few external opportunities. 
D)  many internal strengths and many external threats. 
E)  many internal weaknesses and many external threats. 
A)  many internal strengths and many external opportunities. 
B)  many internal weaknesses and many external opportunities. 
C)  many internal strengths and few external opportunities. 
D)  many internal strengths and many external threats. 
E)  many internal weaknesses and many external threats. D

Question 2

Your supervisor repeatedly informs you that "Goals without objectives are essentially meaningless." What is the rationale for such a philosophy?

Accepted Answer

A)  Goals are necessary to provide specific benchmarks that are used to gauge performance. 
B)  Objectives provide a theoretical benchmark rather than a practical benchmark. 
C)  A goal is not a goal unless it contains one or more objectives. 
D)  Progress is impossible to track without measurable performance targets. 
E)  Objectives are necessary to provide qualitative benchmarks that are used to gauge performance. 
A)  Goals are necessary to provide specific benchmarks that are used to gauge performance. 
B)  Objectives provide a theoretical benchmark rather than a practical benchmark. 
C)  A goal is not a goal unless it contains one or more objectives. 
D)  Progress is impossible to track without measurable performance targets. 
E)  Objectives are necessary to provide qualitative benchmarks that are used to gauge performance. D

Question 3

The overall concept or model that guides the firm as it weaves various marketing elements together into a coherent strategy is called its:

Accepted Answer

A)  marketing strategy. 
B)  operational focus. 
C)  strategic posture. 
D)  marketing thrust. 
E)  strategic focus. 
A)  marketing strategy. 
B)  operational focus. 
C)  strategic posture. 
D)  marketing thrust. 
E)  strategic focus. E

Question 4

In the marketing strategy for Amazon, the following statement appears: Our strategy is designed to increase the percentage of repeat customers from 80 percent to 85 percent in the next 12 months. This statement is an example of a:

Accepted Answer

A)  quantitative goal. 
B)  continuous objective. 
C)  procedural objective. 
D)  qualitative objective. 
E)  discontinuous objective. 
A)  quantitative goal. 
B)  continuous objective. 
C)  procedural objective. 
D)  qualitative objective. 
E)  discontinuous objective.

Question 5

Identify and explain the major characteristics of marketing goals.

Accepted Answer

In developing goals for the marketing pl

Question 6

Because total budget competitors don't compete with the organization directly, marketers should not consider them when conducting a SWOT analysis.​

Accepted Answer

A) True 
 B)False

Question 7

While goals should be quantitative in nature, objectives are usually expressed in qualitative terms.​

Accepted Answer

A) True 
 B)False

Question 8

In terms of SWOT analysis, when does a strength become a capability of the firm?

Accepted Answer

A)  when the strength can be tied to satisfying a customer need 
B)  when the strength cannot be copied by competitors 
C)  when the strength stands alone without any corresponding weaknesses 
D)  when the strength can be connected to a second strength 
E)  when the strength can be supported by sufficient resources 
A)  when the strength can be tied to satisfying a customer need 
B)  when the strength cannot be copied by competitors 
C)  when the strength stands alone without any corresponding weaknesses 
D)  when the strength can be connected to a second strength 
E)  when the strength can be supported by sufficient resources

Question 9

Microsoft's Windows platform dominates the market for personal computer operating systems. By continuously upgrading and stretching the technology underlying its Windows system, Microsoft is pursuing a strategy of:

Accepted Answer

A)  customer intimacy. 
B)  product leadership. 
C)  operational excellence. 
D)  total quality management. 
E)  technological leadership. 
A)  customer intimacy. 
B)  product leadership. 
C)  operational excellence. 
D)  total quality management. 
E)  technological leadership.

Question 10

In Mexico the government has levied a tax on sugary soft drinks. For Coca-Cola, this represents a threat.

Accepted Answer

A) True 
 B)False

Question 11

Kodak focused on maintaining market dominance over Polaroid and Fuji but failed to consider Sony, Nikon, Canon, and even smartphones. What mistake did Kodak make? ​

Accepted Answer

A)  ​It idenfied the wrong brand competitors. 
B)  ​It was too obsessed with market dominance. 
C)  ​It only focused on brand competitors. 
D)  ​It didn't engage in competitive analysis. 
E)  ​It refused to collaborate with its competitors. 
A)  ​It idenfied the wrong brand competitors. 
B)  ​It was too obsessed with market dominance. 
C)  ​It only focused on brand competitors. 
D)  ​It didn't engage in competitive analysis. 
E)  ​It refused to collaborate with its competitors.

Question 12

With regard to Blue Ocean Strategy, the Four-Actions Framework is designed to challenge traditional assumptions about marketing strategy by asking four key questions. Which of the following IS NOT one of these questions?

Accepted Answer

A)  Which factors should be reduced well below the industry's standard? 
B)  Which factors should be raised well above the industry's standard? 
C)  Which factors should be created that the industry has never offered? 
D)  Which factors that the industry takes for granted should be eliminated? 
E)  Which factors used throughout the industry should be copied? 
A)  Which factors should be reduced well below the industry's standard? 
B)  Which factors should be raised well above the industry's standard? 
C)  Which factors should be created that the industry has never offered? 
D)  Which factors that the industry takes for granted should be eliminated? 
E)  Which factors used throughout the industry should be copied?

Question 13

What might be the problem with only taking the customer's perspective?

Accepted Answer

A)  Taking a customer perspective involves a lot of costs and resources. 
B)  Customers often take a generic analysis of the organization. 
C)  The information is more constructive than descriptive. 
D)  Customers do not see behind the scenes to understand the firm's characteristics. 
E)  Adopting a customer perspective doesn't usually translate into insightful information. 
A)  Taking a customer perspective involves a lot of costs and resources. 
B)  Customers often take a generic analysis of the organization. 
C)  The information is more constructive than descriptive. 
D)  Customers do not see behind the scenes to understand the firm's characteristics. 
E)  Adopting a customer perspective doesn't usually translate into insightful information.

Question 14

All of the following are benefits of SWOT analysis EXCEPT:

Accepted Answer

A)  It is simple to use and requires no extensive training or skills. 
B)  Its structured nature ensures that data and information are correctly categorized. 
C)  It promotes collaboration and open information exchange. 
D)  It can synthesize and integrate diverse information. 
E)  It can reduce costs associated with strategic planning. 
A)  It is simple to use and requires no extensive training or skills. 
B)  Its structured nature ensures that data and information are correctly categorized. 
C)  It promotes collaboration and open information exchange. 
D)  It can synthesize and integrate diverse information. 
E)  It can reduce costs associated with strategic planning.

Question 15

Why is it important that marketing goals involve some degree of intangibility?

Accepted Answer

A)  It makes it more difficult for competitors to determine the firm's marketing strategy. 
B)  It makes goals more consistent with the objectives that follow. 
C)  It makes goals easier to achieve. 
D)  It promotes learning by forcing employees to ask questions about the strategy. 
E)  It makes the goal more motivational and promotes continuous improvement 
A)  It makes it more difficult for competitors to determine the firm's marketing strategy. 
B)  It makes goals more consistent with the objectives that follow. 
C)  It makes goals easier to achieve. 
D)  It promotes learning by forcing employees to ask questions about the strategy. 
E)  It makes the goal more motivational and promotes continuous improvement

Question 16

Discuss each of the three competitive advantage strategies (operational excellence, product leadership, customer intimacy) and explain why most firms pursue only one of these strategies.

Accepted Answer

In recent years, many successful firms h

Question 17

By focusing on efficiency of operations and processes, lower costs, and delivering good value, Southwest Airlines attempts to build a competitive advantage based on:

Accepted Answer

A)  production orientation. 
B)  customer intimacy. 
C)  process improvement. 
D)  operational excellence. 
E)  strategic efficiency. 
A)  production orientation. 
B)  customer intimacy. 
C)  process improvement. 
D)  operational excellence. 
E)  strategic efficiency.

Question 18

Expansion and growth, with new products and new markets, are the keys to Google's __________ approach to marketing strategy. Google uses this approach because it possesses many different strengths that coincide with key market opportunities.

Accepted Answer

A)  defensive 
B)  focused 
C)  aggressive 
D)  proactive 
E)  diversified 
A)  defensive 
B)  focused 
C)  aggressive 
D)  proactive 
E)  diversified

Question 19

Weaknesses that cannot be converted into strengths are called _____.

Accepted Answer

A)  ​threats 
B)  ​limitations 
C)  ​uncontrollables 
D)  ​capabilities 
E)  ​failures 
A)  ​threats 
B)  ​limitations 
C)  ​uncontrollables 
D)  ​capabilities 
E)  ​failures

Question 20

Comprehensiveness in the goal-setting process means that each functional area should be able to develop its own goals that relate to the organization's needs.

Accepted Answer

A) True 
 B)False

May firms, like the Altria Group, focus on diversification in their marketing strategies because they possess:

Your supervisor repeatedly informs you that "Goals without objectives are essentially meaningless." What is the rationale for such a philosophy?

The overall concept or model that guides the firm as it weaves various marketing elements together into a coherent strategy is called its:

In the marketing strategy for Amazon, the following statement appears: Our strategy is designed to increase the percentage of repeat customers from 80 percent to 85 percent in the next 12 months. This statement is an example of a:

Identify and explain the major characteristics of marketing goals.

Because total budget competitors don't compete with the organization directly, marketers should not consider them when conducting a SWOT analysis.

While goals should be quantitative in nature, objectives are usually expressed in qualitative terms.

In terms of SWOT analysis, when does a strength become a capability of the firm?

Microsoft's Windows platform dominates the market for personal computer operating systems. By continuously upgrading and stretching the technology underlying its Windows system, Microsoft is pursuing a strategy of:

In Mexico the government has levied a tax on sugary soft drinks. For Coca-Cola, this represents a threat.

Kodak focused on maintaining market dominance over Polaroid and Fuji but failed to consider Sony, Nikon, Canon, and even smartphones. What mistake did Kodak make?

With regard to Blue Ocean Strategy, the Four-Actions Framework is designed to challenge traditional assumptions about marketing strategy by asking four key questions. Which of the following IS NOT one of these questions?

What might be the problem with only taking the customer's perspective?

All of the following are benefits of SWOT analysis EXCEPT:

Why is it important that marketing goals involve some degree of intangibility?

Discuss each of the three competitive advantage strategies (operational excellence, product leadership, customer intimacy) and explain why most firms pursue only one of these strategies.

By focusing on efficiency of operations and processes, lower costs, and delivering good value, Southwest Airlines attempts to build a competitive advantage based on:

Expansion and growth, with new products and new markets, are the keys to Google's __________ approach to marketing strategy. Google uses this approach because it possesses many different strengths that coincide with key market opportunities.

Weaknesses that cannot be converted into strengths are called _____.

Comprehensiveness in the goal-setting process means that each functional area should be able to develop its own goals that relate to the organization's needs.

Marketing in Todays Economy

Strategic Marketing Planning

Collecting and Analyzing Marketing Information

Customers, Segmentation, and Target Marketing

The Marketing Program

Branding and Positioning

Ethics and Social Responsibility in Marketing Strategy

Marketing Implementation and Control

Developing and Maintaining Long-Term Customer Relationships

Filters

Exam 4: Developing Competitive Advantage and Strategic Focus

May firms, like the Altria Group, focus on diversification in their marketing strategies because they possess:

Your supervisor repeatedly informs you that "Goals without objectives are essentially meaningless." What is the rationale for such a philosophy?

The overall concept or model that guides the firm as it weaves various marketing elements together into a coherent strategy is called its:

In the marketing strategy for Amazon, the following statement appears: Our strategy is designed to increase the percentage of repeat customers from 80 percent to 85 percent in the next 12 months. This statement is an example of a:

Identify and explain the major characteristics of marketing goals.

Because total budget competitors don't compete with the organization directly, marketers should not consider them when conducting a SWOT analysis.​

While goals should be quantitative in nature, objectives are usually expressed in qualitative terms.​

In terms of SWOT analysis, when does a strength become a capability of the firm?

Microsoft's Windows platform dominates the market for personal computer operating systems. By continuously upgrading and stretching the technology underlying its Windows system, Microsoft is pursuing a strategy of:

In Mexico the government has levied a tax on sugary soft drinks. For Coca-Cola, this represents a threat.

Kodak focused on maintaining market dominance over Polaroid and Fuji but failed to consider Sony, Nikon, Canon, and even smartphones. What mistake did Kodak make? ​

With regard to Blue Ocean Strategy, the Four-Actions Framework is designed to challenge traditional assumptions about marketing strategy by asking four key questions. Which of the following IS NOT one of these questions?

What might be the problem with only taking the customer's perspective?

All of the following are benefits of SWOT analysis EXCEPT:

Why is it important that marketing goals involve some degree of intangibility?

Discuss each of the three competitive advantage strategies (operational excellence, product leadership, customer intimacy) and explain why most firms pursue only one of these strategies.

By focusing on efficiency of operations and processes, lower costs, and delivering good value, Southwest Airlines attempts to build a competitive advantage based on:

Expansion and growth, with new products and new markets, are the keys to Google's __________ approach to marketing strategy. Google uses this approach because it possesses many different strengths that coincide with key market opportunities.

Weaknesses that cannot be converted into strengths are called _____.

Comprehensiveness in the goal-setting process means that each functional area should be able to develop its own goals that relate to the organization's needs.

Marketing in Todays Economy

Strategic Marketing Planning

Collecting and Analyzing Marketing Information

Customers, Segmentation, and Target Marketing

The Marketing Program

Branding and Positioning

Ethics and Social Responsibility in Marketing Strategy

Marketing Implementation and Control

Developing and Maintaining Long-Term Customer Relationships

Filters

Because total budget competitors don't compete with the organization directly, marketers should not consider them when conducting a SWOT analysis.

While goals should be quantitative in nature, objectives are usually expressed in qualitative terms.

Kodak focused on maintaining market dominance over Polaroid and Fuji but failed to consider Sony, Nikon, Canon, and even smartphones. What mistake did Kodak make?