Question 1

In a truly market-oriented organization, what is the role of the CEO?

Accepted Answer

A)  To focus more on selling additional products to consumers. 
B)  To ensure that employees have everything they need to perform their jobs well. 
C)  To protect the organization from competitive actions. 
D)  To monitor the efficiency and capabilities of frontline employees. 
E)  To hire customer-oriented executives. 
A)  To focus more on selling additional products to consumers. 
B)  To ensure that employees have everything they need to perform their jobs well. 
C)  To protect the organization from competitive actions. 
D)  To monitor the efficiency and capabilities of frontline employees. 
E)  To hire customer-oriented executives. B

Question 2

In the context of marketing planning, why is it vital that the marketing plan be capable of selling itself to top management?

Accepted Answer

A)  Because top managers are responsible for executing the marketing plan. 
B)  Because top managers must ensure that the marketing program is successful. 
C)  Because top managers must be able to clearly communicate the strategy to external stakeholders. 
D)  Because top managers must decide whether the marketing plan is the best use for the organization's scarce resources. 
E)  Because top managers are compensated on how well the marketing strategy works. 
A)  Because top managers are responsible for executing the marketing plan. 
B)  Because top managers must ensure that the marketing program is successful. 
C)  Because top managers must be able to clearly communicate the strategy to external stakeholders. 
D)  Because top managers must decide whether the marketing plan is the best use for the organization's scarce resources. 
E)  Because top managers are compensated on how well the marketing strategy works. D

Question 3

Marketing goals should be specific statements stated in quantitative terms.​

Accepted Answer

A) True 
 B)False  False

Question 4

Which of the following is one of the five basic questions that a good mission statement should answer?

Accepted Answer

A)  Who are our competitors? 
B)  What is our market position? 
C)  What is our operating philosophy? 
D)  What are our opportunities? 
E)  Where have we been? 
A)  Who are our competitors? 
B)  What is our market position? 
C)  What is our operating philosophy? 
D)  What are our opportunities? 
E)  Where have we been?

Question 5

Situation analysis ​summarizes pertinent information about the internal environment, external environment, and customer environment.

Accepted Answer

A) True 
 B)False

Question 6

The executive summary is the first part of the marketing plan.

Accepted Answer

A) True 
 B)False

Question 7

In the marketing strategy section of the marketing plan, the firm details how it will gain a competitive advantage by doing something better than the competition.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is needed to develop goals and objectives?

Accepted Answer

A)  Implementation 
B)  Mission statement 
C)  A SWOT analysis 
D)  Marketing plan 
E)  Competitive intelligence 
A)  Implementation 
B)  Mission statement 
C)  A SWOT analysis 
D)  Marketing plan 
E)  Competitive intelligence

Question 9

All ​functional plans have at least two target markets.

Accepted Answer

A) True 
 B)False

Question 10

All organizations need a __________, the central scheme for utilizing and integrating resources in the areas of production, finance, research and development, human resources, and marketing to carry out the organization's mission and achieve desired goals and objectives.

Accepted Answer

A)  marketing strategy 
B)  cross-functional strategy 
C)  cross-functional goal 
D)  corporate strategy 
E)  corporate mission 
A)  marketing strategy 
B)  cross-functional strategy 
C)  cross-functional goal 
D)  corporate strategy 
E)  corporate mission

Question 11

__________ firms are those that successfully generate, disseminate, and respond to market information.

Accepted Answer

A)  Customer-oriented 
B)  Information-oriented 
C)  Satisfaction-oriented 
D)  Market-oriented 
E)  Competitive-oriented 
A)  Customer-oriented 
B)  Information-oriented 
C)  Satisfaction-oriented 
D)  Market-oriented 
E)  Competitive-oriented

Question 12

Goals are more specific than objectives.

Accepted Answer

A) True 
 B)False

Question 13

Identify and discuss the major problems associated with creating marketing plans. What are some potential ways that firms and managers can overcome these problems?

Accepted Answer

This question is based on Exhibit 2.4. M

Question 14

More consumers are expressing an interest in sustainable behaviors. This represents an opportunity for Tesla's Model X.

Accepted Answer

A) True 
 B)False

Question 15

The key to coordination is to ensure that functional areas maintain:

Accepted Answer

A)  the ability to envision future goals 
B)  consensus at all organizational levels 
C)  agreement on major marketing functions 
D)  ample time for planning 
E)  open lines of communication 
A)  the ability to envision future goals 
B)  consensus at all organizational levels 
C)  agreement on major marketing functions 
D)  ample time for planning 
E)  open lines of communication

Question 16

When a firm possesses capabilities that allow it to serve customers' needs better than the competition, the firm is said to have a:

Accepted Answer

A)  resource advantage. 
B)  competitive advantage. 
C)  value-based advantage. 
D)  marketing advantage. 
E)  relative advantage. 
A)  resource advantage. 
B)  competitive advantage. 
C)  value-based advantage. 
D)  marketing advantage. 
E)  relative advantage.

Question 17

Many firms have shifted to balanced strategic planning because traditional planning and measurement approaches are not able to capture:

Accepted Answer

A)  key competitive information to drive marketing planning. 
B)  real-time customer satisfaction metrics. 
C)  the value created by an organization's intangible assets. 
D)  either internal or external innovation. 
E)  real-time financial performance metrics. 
A)  key competitive information to drive marketing planning. 
B)  real-time customer satisfaction metrics. 
C)  the value created by an organization's intangible assets. 
D)  either internal or external innovation. 
E)  real-time financial performance metrics.

Question 18

The SWOT analysis is derived from the marketing goals and objectives section.

Accepted Answer

A) True 
 B)False

Question 19

Explain how and why the process of developing a marketing plan might be more important than the marketing plan document itself. What are the benefits of the planning process irrespective of the actual outcomes of the process?

Accepted Answer

The key to the benefits of the planning

Question 20

Whether at the corporate, business-unit, or functional level, the planning process always begins with an in-depth:

Accepted Answer

A)  statement of goals and objectives. 
B)  situation analysis. 
C)  strategy for achieving growth. 
D)  statement of the organization's competitive advantages. 
E)  assessment of the organization's resources. 
A)  statement of goals and objectives. 
B)  situation analysis. 
C)  strategy for achieving growth. 
D)  statement of the organization's competitive advantages. 
E)  assessment of the organization's resources.

In a truly market-oriented organization, what is the role of the CEO?

In the context of marketing planning, why is it vital that the marketing plan be capable of selling itself to top management?

Marketing goals should be specific statements stated in quantitative terms.

Which of the following is one of the five basic questions that a good mission statement should answer?

Situation analysis summarizes pertinent information about the internal environment, external environment, and customer environment.

The executive summary is the first part of the marketing plan.

In the marketing strategy section of the marketing plan, the firm details how it will gain a competitive advantage by doing something better than the competition.

Which of the following is needed to develop goals and objectives?

All functional plans have at least two target markets.

All organizations need a __________, the central scheme for utilizing and integrating resources in the areas of production, finance, research and development, human resources, and marketing to carry out the organization's mission and achieve desired goals and objectives.

__________ firms are those that successfully generate, disseminate, and respond to market information.

Goals are more specific than objectives.

Identify and discuss the major problems associated with creating marketing plans. What are some potential ways that firms and managers can overcome these problems?

More consumers are expressing an interest in sustainable behaviors. This represents an opportunity for Tesla's Model X.

The key to coordination is to ensure that functional areas maintain:

When a firm possesses capabilities that allow it to serve customers' needs better than the competition, the firm is said to have a:

Many firms have shifted to balanced strategic planning because traditional planning and measurement approaches are not able to capture:

The SWOT analysis is derived from the marketing goals and objectives section.

Explain how and why the process of developing a marketing plan might be more important than the marketing plan document itself. What are the benefits of the planning process irrespective of the actual outcomes of the process?

Whether at the corporate, business-unit, or functional level, the planning process always begins with an in-depth:

Marketing in Todays Economy

Collecting and Analyzing Marketing Information

Developing Competitive Advantage and Strategic Focus

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 2: Strategic Marketing Planning

In a truly market-oriented organization, what is the role of the CEO?

In the context of marketing planning, why is it vital that the marketing plan be capable of selling itself to top management?

Marketing goals should be specific statements stated in quantitative terms.​

Which of the following is one of the five basic questions that a good mission statement should answer?

Situation analysis ​summarizes pertinent information about the internal environment, external environment, and customer environment.

The executive summary is the first part of the marketing plan.

In the marketing strategy section of the marketing plan, the firm details how it will gain a competitive advantage by doing something better than the competition.

Which of the following is needed to develop goals and objectives?

All ​functional plans have at least two target markets.

All organizations need a __________, the central scheme for utilizing and integrating resources in the areas of production, finance, research and development, human resources, and marketing to carry out the organization's mission and achieve desired goals and objectives.

__________ firms are those that successfully generate, disseminate, and respond to market information.

Goals are more specific than objectives.

Identify and discuss the major problems associated with creating marketing plans. What are some potential ways that firms and managers can overcome these problems?

More consumers are expressing an interest in sustainable behaviors. This represents an opportunity for Tesla's Model X.

The key to coordination is to ensure that functional areas maintain:

When a firm possesses capabilities that allow it to serve customers' needs better than the competition, the firm is said to have a:

Many firms have shifted to balanced strategic planning because traditional planning and measurement approaches are not able to capture:

The SWOT analysis is derived from the marketing goals and objectives section.

Explain how and why the process of developing a marketing plan might be more important than the marketing plan document itself. What are the benefits of the planning process irrespective of the actual outcomes of the process?

Whether at the corporate, business-unit, or functional level, the planning process always begins with an in-depth:

Marketing in Todays Economy

Collecting and Analyzing Marketing Information

Developing Competitive Advantage and Strategic Focus

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

Marketing goals should be specific statements stated in quantitative terms.

Situation analysis summarizes pertinent information about the internal environment, external environment, and customer environment.

All functional plans have at least two target markets.