Question 1

Market segments cannot be differentiated by ethnicity and multicultural aspects.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following statements is true of a marketing audit?

Accepted Answer

A)  It should be carried out on a regular schedule. 
B)  It is always conducted by an inside party. 
C)  It covers just the trouble spots of an organization. 
D)  It is a process for implementing a marketing plan. 
A)  It should be carried out on a regular schedule. 
B)  It is always conducted by an inside party. 
C)  It covers just the trouble spots of an organization. 
D)  It is a process for implementing a marketing plan.

Question 3

Within the context of the marketing plan,implementation involves:

Accepted Answer

A)  allocating resources. 
B)  identifying market segments. 
C)  defining the business mission. 
D)  assessing internal capabilities of a firm. 
A)  allocating resources. 
B)  identifying market segments. 
C)  defining the business mission. 
D)  assessing internal capabilities of a firm.

Question 4

When following up on a marketing plan,the _____ process provides the mechanisms for evaluating marketing results in light of the plan's objectives and for correcting actions that do not help the organization reach those objectives within budget guidelines.

Accepted Answer

A)  implementation 
B)  control 
C)  environmental scanning 
D)  post-audit 
A)  implementation 
B)  control 
C)  environmental scanning 
D)  post-audit

Question 5

A premise of the Boston Consulting Group model states which of the following?

Accepted Answer

A)  Diversification strategies can be risky when firms enter unfamiliar markets,even with little or no competition in those markets segments. 
B)  The cash generated from cash cows should be allotted to SBUs considered to be question marks and dogs,instead of stars. 
C)  Management must find a balance among the SBUs that yields the overall organization's desired growth and profits with an acceptable level of risk. 
D)  Companies must rely on new,unfamiliar assets to develop the type of breakthrough decisions that would determine their sustainability in the future. 
A)  Diversification strategies can be risky when firms enter unfamiliar markets,even with little or no competition in those markets segments. 
B)  The cash generated from cash cows should be allotted to SBUs considered to be question marks and dogs,instead of stars. 
C)  Management must find a balance among the SBUs that yields the overall organization's desired growth and profits with an acceptable level of risk. 
D)  Companies must rely on new,unfamiliar assets to develop the type of breakthrough decisions that would determine their sustainability in the future.

Question 6

Environmental scanning refers to the process of collecting and interpreting information about forces,events,and relationships in the external environment that may affect the future of the organization or the implementation of the marketing plan.

Accepted Answer

A) True 
 B)False

Question 7

In terms of effective strategic planning,managers should establish new strategies but without challenging longstanding assumptions about the firm and the environment.

Accepted Answer

A) True 
 B)False

Question 8

When examining an organization's internal strengths and weaknesses during SWOT analysis,the marketing manager may not focus on organizational resources such as production costs,marketing skills,financial resources,company or brand image,employee capabilities,or available technology.

Accepted Answer

A) True 
 B)False

Question 9

Strategic planning should be an annual exercise in which managers quickly review the previous plan,retain the majority of previous strategies,and make only a few changes going forward so they can more easily track the success of new marketing tactics.

Accepted Answer

A) True 
 B)False

Question 10

Tropical Horizons has opened spas in Thailand,Indonesia,and Malaysia and is aggressively expanding into countries around the Mediterranean.This illustrates which of the following strategies of Ansoff's strategic opportunity matrix?

Accepted Answer

A)  Market penetration 
B)  Market development 
C)  Product development 
D)  Diversification 
A)  Market penetration 
B)  Market development 
C)  Product development 
D)  Diversification

Question 11

When properly created,a strategic business unit (SBU)of a large company:

Accepted Answer

A)  has a specific target market. 
B)  plans collaboratively with other SBUs of the company. 
C)  has no competitors. 
D)  shares the mission of its parent company. 
A)  has a specific target market. 
B)  plans collaboratively with other SBUs of the company. 
C)  has no competitors. 
D)  shares the mission of its parent company.

Question 12

RegiSure is a strategic business unit that shows low growth but has a dominant market share.Because of its market share,it should receive additional financing despite its low growth.

Accepted Answer

A) True 
 B)False

Question 13

A company is most likely to fail to achieve a marketing objective if there are changes in the environment ______.

Accepted Answer

A)  before the objective is specified and after the strategy is debated 
B)  before the objective is specified and the strategy is implemented 
C)  after the objective is specified and the strategy is implemented 
D)  after the objective is specified and before the strategy is implemented 
A)  before the objective is specified and after the strategy is debated 
B)  before the objective is specified and the strategy is implemented 
C)  after the objective is specified and the strategy is implemented 
D)  after the objective is specified and before the strategy is implemented

Question 14

Which of the following firms is most likely to realize a competitive advantage through product/service differentiation?

Accepted Answer

A)  A firm that sells its products at lower costs than its competitors 
B)  A firm that inhibits post-sale customer service relations 
C)  A firm that provides highly reliable products 
D)  A firm that solely relies on promotional strategies to increase its sales 
A)  A firm that sells its products at lower costs than its competitors 
B)  A firm that inhibits post-sale customer service relations 
C)  A firm that provides highly reliable products 
D)  A firm that solely relies on promotional strategies to increase its sales

Question 15

Which of the following statements is true of a niche strategy?

Accepted Answer

A)  Only large companies can implement a niche strategy. 
B)  Companies that adopt a niche strategy target a single market segment. 
C)  Only companies that do not have competitors can adopt a niche strategy. 
D)  Companies that adopt a niche strategy can only gain a price advantage over competitors. 
A)  Only large companies can implement a niche strategy. 
B)  Companies that adopt a niche strategy target a single market segment. 
C)  Only companies that do not have competitors can adopt a niche strategy. 
D)  Companies that adopt a niche strategy can only gain a price advantage over competitors.

Question 16

The term marketing mix refers to a unique blend of product,place (distribution),promotion,and pricing strategies (often referred to as the four Ps)designed to produce mutually satisfying exchanges with a target market.

Accepted Answer

A) True 
 B)False

Question 17

In the portfolio matrix,a business unit that generates more cash than it needs to maintain its market share is called a:

Accepted Answer

A)  star. 
B)  cash cow. 
C)  problem child. 
D)  dog. 
A)  star. 
B)  cash cow. 
C)  problem child. 
D)  dog.

Question 18

MaxNutri Inc.sells cookies and nutrition bars.The marketers at MaxNutri are trying to come up with new and attractive packaging designs for its cookies.In this scenario,MaxNutri is working on its _____.

Accepted Answer

A)  purchase strategy 
B)  distribution strategy 
C)  advertising strategy 
D)  product strategy 
A)  purchase strategy 
B)  distribution strategy 
C)  advertising strategy 
D)  product strategy

Question 19

According to Ansoff's strategic opportunity matrix,which of the following factors is associated with market development?

Accepted Answer

A)  Limit production. 
B)  Increase the prices of existing products. 
C)  Add new uses to current products. 
D)  Limit resources used for promotion. 
A)  Limit production. 
B)  Increase the prices of existing products. 
C)  Add new uses to current products. 
D)  Limit resources used for promotion.

Question 20

The thorough,systematic,periodic evaluation of the objectives,strategies,structure,and performance of the marketing organization is called ________.

Accepted Answer

A)  the marketing audit 
B)  evaluation and control 
C)  post-audit tasks 
D)  post-implementation audit 
A)  the marketing audit 
B)  evaluation and control 
C)  post-audit tasks 
D)  post-implementation audit

Market segments cannot be differentiated by ethnicity and multicultural aspects.

Which of the following statements is true of a marketing audit?

Within the context of the marketing plan,implementation involves:

When following up on a marketing plan,the _____ process provides the mechanisms for evaluating marketing results in light of the plan's objectives and for correcting actions that do not help the organization reach those objectives within budget guidelines.

A premise of the Boston Consulting Group model states which of the following?

Environmental scanning refers to the process of collecting and interpreting information about forces,events,and relationships in the external environment that may affect the future of the organization or the implementation of the marketing plan.

In terms of effective strategic planning,managers should establish new strategies but without challenging longstanding assumptions about the firm and the environment.

When examining an organization's internal strengths and weaknesses during SWOT analysis,the marketing manager may not focus on organizational resources such as production costs,marketing skills,financial resources,company or brand image,employee capabilities,or available technology.

Strategic planning should be an annual exercise in which managers quickly review the previous plan,retain the majority of previous strategies,and make only a few changes going forward so they can more easily track the success of new marketing tactics.

Tropical Horizons has opened spas in Thailand,Indonesia,and Malaysia and is aggressively expanding into countries around the Mediterranean.This illustrates which of the following strategies of Ansoff's strategic opportunity matrix?

When properly created,a strategic business unit (SBU)of a large company:

RegiSure is a strategic business unit that shows low growth but has a dominant market share.Because of its market share,it should receive additional financing despite its low growth.

A company is most likely to fail to achieve a marketing objective if there are changes in the environment ______.

Which of the following firms is most likely to realize a competitive advantage through product/service differentiation?

Which of the following statements is true of a niche strategy?

The term marketing mix refers to a unique blend of product,place (distribution),promotion,and pricing strategies (often referred to as the four Ps)designed to produce mutually satisfying exchanges with a target market.

In the portfolio matrix,a business unit that generates more cash than it needs to maintain its market share is called a:

MaxNutri Inc.sells cookies and nutrition bars.The marketers at MaxNutri are trying to come up with new and attractive packaging designs for its cookies.In this scenario,MaxNutri is working on its _____.

According to Ansoff's strategic opportunity matrix,which of the following factors is associated with market development?

The thorough,systematic,periodic evaluation of the objectives,strategies,structure,and performance of the marketing organization is called ________.

An Overview of Marketing

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Supply Chain Management and Marketing Channels

Retailing

Marketing Communications

Advertising,public Relations,and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Pricing Concepts

Filters

Exam 2: Strategic Planning and Competitive Advantage

Market segments cannot be differentiated by ethnicity and multicultural aspects.

Which of the following statements is true of a marketing audit?

Within the context of the marketing plan,implementation involves:

When following up on a marketing plan,the _____ process provides the mechanisms for evaluating marketing results in light of the plan's objectives and for correcting actions that do not help the organization reach those objectives within budget guidelines.

A premise of the Boston Consulting Group model states which of the following?

Environmental scanning refers to the process of collecting and interpreting information about forces,events,and relationships in the external environment that may affect the future of the organization or the implementation of the marketing plan.

In terms of effective strategic planning,managers should establish new strategies but without challenging longstanding assumptions about the firm and the environment.

When examining an organization's internal strengths and weaknesses during SWOT analysis,the marketing manager may not focus on organizational resources such as production costs,marketing skills,financial resources,company or brand image,employee capabilities,or available technology.

Strategic planning should be an annual exercise in which managers quickly review the previous plan,retain the majority of previous strategies,and make only a few changes going forward so they can more easily track the success of new marketing tactics.

Tropical Horizons has opened spas in Thailand,Indonesia,and Malaysia and is aggressively expanding into countries around the Mediterranean.This illustrates which of the following strategies of Ansoff's strategic opportunity matrix?

When properly created,a strategic business unit (SBU)of a large company:

RegiSure is a strategic business unit that shows low growth but has a dominant market share.Because of its market share,it should receive additional financing despite its low growth.

A company is most likely to fail to achieve a marketing objective if there are changes in the environment ______.

Which of the following firms is most likely to realize a competitive advantage through product/service differentiation?

Which of the following statements is true of a niche strategy?

The term marketing mix refers to a unique blend of product,place (distribution),promotion,and pricing strategies (often referred to as the four Ps)designed to produce mutually satisfying exchanges with a target market.

In the portfolio matrix,a business unit that generates more cash than it needs to maintain its market share is called a:

MaxNutri Inc.sells cookies and nutrition bars.The marketers at MaxNutri are trying to come up with new and attractive packaging designs for its cookies.In this scenario,MaxNutri is working on its _____.

According to Ansoff's strategic opportunity matrix,which of the following factors is associated with market development?

The thorough,systematic,periodic evaluation of the objectives,strategies,structure,and performance of the marketing organization is called ________.

An Overview of Marketing

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Supply Chain Management and Marketing Channels

Retailing

Marketing Communications

Advertising,public Relations,and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Pricing Concepts

Filters