Question 1

Which of the following strategies involves selling existing products or services to new customers?

Accepted Answer

A)  Market-penetration 
B)  Product-development 
C)  Market-development 
D)  Diversification 
E)  Downsizing 
A)  Market-penetration 
B)  Product-development 
C)  Market-development 
D)  Diversification 
E)  Downsizing

Question 2

With reference to the external environment,the_____ includes competition,suppliers,marketing intermediaries (retailers,wholesalers),the public,the company,and customers.

Accepted Answer

A)  micro environment 
B)  target market 
C)  macro environment 
D)  trade commission 
E)  decoy market 
A)  micro environment 
B)  target market 
C)  macro environment 
D)  trade commission 
E)  decoy market

Question 3

The economy,competitors,and government regulations that could affect what the firm wants to do are part of the _____.

Accepted Answer

external e

Question 4

Which of the following refers to a product with a low growth and low market share?

Accepted Answer

A)  Star 
B)  Cash cow 
C)  Question mark 
D)  Dog 
E)  Harvest product 
A)  Star 
B)  Cash cow 
C)  Question mark 
D)  Dog 
E)  Harvest product

Question 5

Universities who allow their logos to be placed on t-shirts and other goods by third parties are engaging in _____.

Accepted Answer

A)  exporting 
B)  licensing 
C)  franchising 
D)  contract manufacturing 
E)  direct investment 
A)  exporting 
B)  licensing 
C)  franchising 
D)  contract manufacturing 
E)  direct investment

Question 6

A firm that invests only what it has to in order to maintain the product's market share is said to be _____.

Accepted Answer

A)  holding market share 
B)  stabilizing market share 
C)  harvesting market share 
D)  growing market share 
E)  decreasing market share 
A)  holding market share 
B)  stabilizing market share 
C)  harvesting market share 
D)  growing market share 
E)  decreasing market share

Question 7

A product with high growth and a high market share is known as a _____.

Accepted Answer

A)  star 
B)  cash cow 
C)  question mark 
D)  dog 
E)  harvest product 
A)  star 
B)  cash cow 
C)  question mark 
D)  dog 
E)  harvest product

Question 8

People who act like customers are known as _____.

Accepted Answer

A)  mystery shoppers 
B)  savvy consumers 
C)  decoy shoppers 
D)  shoplifters 
E)  the target market 
A)  mystery shoppers 
B)  savvy consumers 
C)  decoy shoppers 
D)  shoplifters 
E)  the target market

Question 9

A(n)_____ is a statement that summarizes the key benefits or value for target customers.

Accepted Answer

The answer of A(n)_____ is a statement that summarizes the...

Question 10

A business plan is a strategic plan at the functional level that provides a firm's marketing group with direction.

Accepted Answer

A) True 
 B)False

Question 11

Trent would like to increase his clothing sales by 4% over the next 24 months.Which of the following has Trent created?

Accepted Answer

A)  Market penetration strategy 
B)  Downsizing strategy 
C)  Mission statement 
D)  Objective 
E)  Marketing plan 
A)  Market penetration strategy 
B)  Downsizing strategy 
C)  Mission statement 
D)  Objective 
E)  Marketing plan

Question 12

John is offering his customers a special promotion for t-shirts: buy one,get the second one for a discount of 50%.Which of the following strategies is John utilizing?

Accepted Answer

A)  Market-penetration 
B)  Product-development 
C)  Market-development 
D)  Diversification 
E)  Downsizing 
A)  Market-penetration 
B)  Product-development 
C)  Market-development 
D)  Diversification 
E)  Downsizing

Question 13

If a company has multiple planning levels,the plans must be:

Accepted Answer

A)  consistent and all must help achieve individual goals. 
B)  approved by all departments within an organization. 
C)  adhered to regardless of external factors. 
D)  consistent and all must help achieve the overall goals of the corporation. 
E)  the same for each strategic business unit. 
A)  consistent and all must help achieve individual goals. 
B)  approved by all departments within an organization. 
C)  adhered to regardless of external factors. 
D)  consistent and all must help achieve the overall goals of the corporation. 
E)  the same for each strategic business unit.

Question 14

The least risky and least expensive method used by companies to enter international markets is known as _____.

Accepted Answer

A)  exporting 
B)  licensing 
C)  franchising 
D)  joint ventures 
E)  direct investment 
A)  exporting 
B)  licensing 
C)  franchising 
D)  joint ventures 
E)  direct investment

Question 15

A business receiving a medium score with the GE approach should be divested immediately.

Accepted Answer

A) True 
 B)False

Question 16

An approach to analyzing various businesses relative to one another is known as a _____.

Accepted Answer

portfolio-

Question 17

When entering an international market,_____ is the least risky method,while _____ is the most risky strategy.

Accepted Answer

A)  exporting; joint ventures 
B)  licensing; exporting 
C)  franchising; licensing 
D)  joint ventures; direct investment 
E)  exporting; direct investment 
A)  exporting; joint ventures 
B)  licensing; exporting 
C)  franchising; licensing 
D)  joint ventures; direct investment 
E)  exporting; direct investment

Question 18

Strategies at the functional department level must be consistent with corporate level objectives,but need not be consistent with business level objectives.

Accepted Answer

A) True 
 B)False

Question 19

A _____ plan was implemented at PepsiCo to create a new Aquafina bottle that uses less plastic and has a smaller label,which reduces waste and helps the environment.

Accepted Answer

A)  corporate level 
B)  business level 
C)  functional level 
D)  value oriented 
E)  consumer oriented 
A)  corporate level 
B)  business level 
C)  functional level 
D)  value oriented 
E)  consumer oriented

Question 20

A firm's _____ states the purpose of the organization and why it exists.

Accepted Answer

The answer of A firm's _____ states the purpose of...

Which of the following strategies involves selling existing products or services to new customers?

With reference to the external environment,the_____ includes competition,suppliers,marketing intermediaries (retailers,wholesalers),the public,the company,and customers.

The economy,competitors,and government regulations that could affect what the firm wants to do are part of the _____.

Which of the following refers to a product with a low growth and low market share?

Universities who allow their logos to be placed on t-shirts and other goods by third parties are engaging in _____.

A firm that invests only what it has to in order to maintain the product's market share is said to be _____.

A product with high growth and a high market share is known as a _____.

People who act like customers are known as _____.

A(n)_____ is a statement that summarizes the key benefits or value for target customers.

A business plan is a strategic plan at the functional level that provides a firm's marketing group with direction.

Trent would like to increase his clothing sales by 4% over the next 24 months.Which of the following has Trent created?

John is offering his customers a special promotion for t-shirts: buy one,get the second one for a discount of 50%.Which of the following strategies is John utilizing?

If a company has multiple planning levels,the plans must be:

The least risky and least expensive method used by companies to enter international markets is known as _____.

A business receiving a medium score with the GE approach should be divested immediately.

An approach to analyzing various businesses relative to one another is known as a _____.

When entering an international market,_ is the least risky method,while _ is the most risky strategy.

Strategies at the functional department level must be consistent with corporate level objectives,but need not be consistent with business level objectives.

A _____ plan was implemented at PepsiCo to create a new Aquafina bottle that uses less plastic and has a smaller label,which reduces waste and helps the environment.

A firm's _____ states the purpose of the organization and why it exists.

What Is Marketing?

Consumer Behavior: How People Make Buying Decisions

Business Buying Behavior

Market Segmenting, Targeting, and Positioning

Creating Offerings

Developing and Managing Offerings

Using Marketing Channels to Create Value for Customers

Using Supply Chains to Create Value for Customers

Gathering and Using Information: Marketing Research and Market Intelligence

Integrated Marketing Communications and the Changing Media Landscape

Public Relations, Social Media, and Sponsorships

Professional Selling

Customer Satisfaction, Loyalty, and Empowerment

Price,the Only Revenue Generator

The Marketing Plan

Filters

Exam 2: Strategic Planning

Which of the following strategies involves selling existing products or services to new customers?

With reference to the external environment,the_____ includes competition,suppliers,marketing intermediaries (retailers,wholesalers),the public,the company,and customers.

The economy,competitors,and government regulations that could affect what the firm wants to do are part of the _____.

Which of the following refers to a product with a low growth and low market share?

Universities who allow their logos to be placed on t-shirts and other goods by third parties are engaging in _____.

A firm that invests only what it has to in order to maintain the product's market share is said to be _____.

A product with high growth and a high market share is known as a _____.

People who act like customers are known as _____.

A(n)_____ is a statement that summarizes the key benefits or value for target customers.

A business plan is a strategic plan at the functional level that provides a firm's marketing group with direction.

Trent would like to increase his clothing sales by 4% over the next 24 months.Which of the following has Trent created?

John is offering his customers a special promotion for t-shirts: buy one,get the second one for a discount of 50%.Which of the following strategies is John utilizing?

If a company has multiple planning levels,the plans must be:

The least risky and least expensive method used by companies to enter international markets is known as _____.

A business receiving a medium score with the GE approach should be divested immediately.

An approach to analyzing various businesses relative to one another is known as a _____.

When entering an international market,_____ is the least risky method,while _____ is the most risky strategy.

Strategies at the functional department level must be consistent with corporate level objectives,but need not be consistent with business level objectives.

A _____ plan was implemented at PepsiCo to create a new Aquafina bottle that uses less plastic and has a smaller label,which reduces waste and helps the environment.

A firm's _____ states the purpose of the organization and why it exists.

What Is Marketing?

Consumer Behavior: How People Make Buying Decisions

Business Buying Behavior

Market Segmenting, Targeting, and Positioning

Creating Offerings

Developing and Managing Offerings

Using Marketing Channels to Create Value for Customers

Using Supply Chains to Create Value for Customers

Gathering and Using Information: Marketing Research and Market Intelligence

Integrated Marketing Communications and the Changing Media Landscape

Public Relations, Social Media, and Sponsorships

Professional Selling

Customer Satisfaction, Loyalty, and Empowerment

Price,the Only Revenue Generator

The Marketing Plan

Filters

When entering an international market,_ is the least risky method,while _ is the most risky strategy.