Question 1

Which of the following is an example of a firm's strength discovered by a SWOT analysis?

Accepted Answer

A)  ownership of valuable patents 
B)  a narrow current product line 
C)  changing buyer tastes in the marketplace 
D)  existing government policies adverse to the industry 
A)  ownership of valuable patents 
B)  a narrow current product line 
C)  changing buyer tastes in the marketplace 
D)  existing government policies adverse to the industry

Question 2

Match each item to the statement or sentence listed below.
a.planning
b.marketing planning
c.strategic planning
d.tactical planning
e.mission
f.first mover strategy
g.SWOT analysis
h.strategic window
i.marketing mix
j.product strategy
k.strategic business units (SBUs)
l.Porter's Five Forces
m.marketing strategy
n.dogs
o.stars
p.annual growth rate
-SBUs in the category of _____ promise poor future prospects, and marketers should withdraw from these businesses or product lines as quickly as possible.

Accepted Answer

The answer of Match each item to the statement or...

Question 3

Match each item to the statement or sentence listed below.
a.planning
b.marketing planning
c.strategic planning
d.tactical planning
e.mission
f.first mover strategy
g.SWOT analysis
h.strategic window
i.marketing mix
j.product strategy
k.strategic business units (SBUs)
l.Porter's Five Forces
m.marketing strategy
n.dogs
o.stars
p.annual growth rate
-A firm that adopts a _____, attempts to capture the greatest market share and develop long-term relationships by being the pioneer to enter the market with a good or service.

Accepted Answer

The answer of Match each item to the statement or...

Question 4

Which of the following is an example of a threat to a firm discovered by a SWOT analysis?

Accepted Answer

A)  inadequate financing capabilities 
B)  the chance to acquire firms with needed technology 
C)  likely entry of new competitors in the industry 
D)  too narrow a product line for the firm 
A)  inadequate financing capabilities 
B)  the chance to acquire firms with needed technology 
C)  likely entry of new competitors in the industry 
D)  too narrow a product line for the firm

Question 5

An example of strategic planning would be a decision by McDonald's to introduce salads to its menu.

Accepted Answer

A) True 
 B)False

Question 6

In SWOT analysis, when does vulnerability occur?

Accepted Answer

A)  when internal organizational weaknesses prevent taking advantage of an opportunity 
B)  when environmental threats attack organizational weaknesses 
C)  when weaknesses are effectively addressed 
D)  when environmental threats are stronger than organizational strengths 
A)  when internal organizational weaknesses prevent taking advantage of an opportunity 
B)  when environmental threats attack organizational weaknesses 
C)  when weaknesses are effectively addressed 
D)  when environmental threats are stronger than organizational strengths

Question 7

How is the term "product" best described?

Accepted Answer

A)  It refers only to tangible items that can be seen, tasted, or touched. 
B)  It is a broad concept encompassing the satisfaction of consumer needs. 
C)  It is limited to include goods, services, and ideas only. 
D)  It never refers to such things as package design, brand name, or warranty. 
A)  It refers only to tangible items that can be seen, tasted, or touched. 
B)  It is a broad concept encompassing the satisfaction of consumer needs. 
C)  It is limited to include goods, services, and ideas only. 
D)  It never refers to such things as package design, brand name, or warranty.

Question 8

To be most effective, the planning process should include input from a wide range of sources both internal and external to the organization.

Accepted Answer

A) True 
 B)False

Question 9

Loblaw Companies acquired Shoppers Drug Mart and the highest executive who approved this acquisition was most likely the company's CEO. What planning process within Loblaw Companies was this decision was the direct result of?

Accepted Answer

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

Question 10

Which of the following is indicative of a second mover strategy?

Accepted Answer

A)  entering new markets with existing products 
B)  making significant innovations that turn old products into new ones 
C)  observing closely the innovations of first movers and then improving on them 
D)  entering new markets with new products before any other entrants 
A)  entering new markets with existing products 
B)  making significant innovations that turn old products into new ones 
C)  observing closely the innovations of first movers and then improving on them 
D)  entering new markets with new products before any other entrants

Question 11

How can relationship marketing help a company?

Accepted Answer

A)  by creating long-term links with individual customers for mutual benefit 
B)  by reducing its strategic planning effort because the need for such planning is greatly diminished 
C)  by finding more effective media for use in advertising and mass marketing 
D)  by cutting through the planning process and moving into tactical plans 
A)  by creating long-term links with individual customers for mutual benefit 
B)  by reducing its strategic planning effort because the need for such planning is greatly diminished 
C)  by finding more effective media for use in advertising and mass marketing 
D)  by cutting through the planning process and moving into tactical plans

Question 12

The product manager for a new mousetrap informs the board of directors at its annual meeting that the product has been classified as a dog. What does this mean about the product?

Accepted Answer

A)  It requires a "go/no go" decision within the next several years. 
B)  It has low market share of a high-growth rate market. 
C)  It should be withdrawn from the market. 
D)  It needs heavy investment to make it a star. 
A)  It requires a "go/no go" decision within the next several years. 
B)  It has low market share of a high-growth rate market. 
C)  It should be withdrawn from the market. 
D)  It needs heavy investment to make it a star.

Question 13

What is a marketing mix? In order for a product to succeed, what can be said about the variables in the product mix?

Accepted Answer

The marketing mix variables-product, dis

Question 14

Which of the following is an example of a firm's weakness discovered by a SWOT analysis?

Accepted Answer

A)  a bill passed by the government regarding the work timings of all organizations 
B)  a competitor planning to open a new branch close to the firm's place of operations 
C)  the firm's failure to pay its taxes on time leading to a poor reputation in the market 
D)  a ban imposed on the use of animals for testing cosmetics 
A)  a bill passed by the government regarding the work timings of all organizations 
B)  a competitor planning to open a new branch close to the firm's place of operations 
C)  the firm's failure to pay its taxes on time leading to a poor reputation in the market 
D)  a ban imposed on the use of animals for testing cosmetics

Question 15

Apple iTunes is an example of a successful first mover.

Accepted Answer

A) True 
 B)False

Question 16

Compared with other organization personnel, who devotes more time to long-range strategic planning?

Accepted Answer

A)  middle management 
B)  manufacturing labour 
C)  top management 
D)  supervisory management 
A)  middle management 
B)  manufacturing labour 
C)  top management 
D)  supervisory management

Question 17

What type of market is the group of people to whom a firm directs its marketing efforts?

Accepted Answer

A)  captive 
B)  consumer 
C)  home 
D)  target 
A)  captive 
B)  consumer 
C)  home 
D)  target

Question 18

In SWOT analysis, what are situations in which organizations are unable to capitalize on opportunities because of internal limitations referred to as?

Accepted Answer

A)  strategic windows 
B)  strategic leverage 
C)  constraints 
D)  vulnerability 
A)  strategic windows 
B)  strategic leverage 
C)  constraints 
D)  vulnerability

Question 19

Which company has followed a second mover strategy?

Accepted Answer

A)  Apple 
B)  Facebook 
C)  IBM 
D)  Ford Motor Company 
A)  Apple 
B)  Facebook 
C)  IBM 
D)  Ford Motor Company

Question 20

According to the BCG matrix, cash cow businesses produce strong cash flows and invest heavily in the unit's own promotions and production capacity.

Accepted Answer

A) True 
 B)False

Which of the following is an example of a firm's strength discovered by a SWOT analysis?

Which of the following is an example of a threat to a firm discovered by a SWOT analysis?

An example of strategic planning would be a decision by McDonald's to introduce salads to its menu.

In SWOT analysis, when does vulnerability occur?

How is the term "product" best described?

To be most effective, the planning process should include input from a wide range of sources both internal and external to the organization.

Loblaw Companies acquired Shoppers Drug Mart and the highest executive who approved this acquisition was most likely the company's CEO. What planning process within Loblaw Companies was this decision was the direct result of?

Which of the following is indicative of a second mover strategy?

How can relationship marketing help a company?

The product manager for a new mousetrap informs the board of directors at its annual meeting that the product has been classified as a dog. What does this mean about the product?

What is a marketing mix? In order for a product to succeed, what can be said about the variables in the product mix?

Which of the following is an example of a firm's weakness discovered by a SWOT analysis?

Apple iTunes is an example of a successful first mover.

Compared with other organization personnel, who devotes more time to long-range strategic planning?

What type of market is the group of people to whom a firm directs its marketing efforts?

In SWOT analysis, what are situations in which organizations are unable to capitalize on opportunities because of internal limitations referred to as?

Which company has followed a second mover strategy?

According to the BCG matrix, cash cow businesses produce strong cash flows and invest heavily in the unit's own promotions and production capacity.

Marketing: the Art and Science of Satisfying Customers

The Marketing Environment, Ethics, and Social Responsibility

Digital Marketing and Social Media: Living in the Connected World

Consumer Behaviour

Business-To-Business B2b Marketing

Serving Global Markets

Marketing Research, Decision Support Systems, and Sales Forecasting

Marketing Segmentation, Targeting, and Positioning

Product and Service Strategies

Developing and Managing Brand and Product Strategies

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Digital Communications

Personal Selling and Sales Promotion

Pricing Concepts and Strategies

Relationship Marketing and Customer Relationship Management CRM

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Exam 2: Strategic Planning in Contemporary Marketing

Which of the following is an example of a firm's strength discovered by a SWOT analysis?

Which of the following is an example of a threat to a firm discovered by a SWOT analysis?

An example of strategic planning would be a decision by McDonald's to introduce salads to its menu.

In SWOT analysis, when does vulnerability occur?

How is the term "product" best described?

To be most effective, the planning process should include input from a wide range of sources both internal and external to the organization.

Loblaw Companies acquired Shoppers Drug Mart and the highest executive who approved this acquisition was most likely the company's CEO. What planning process within Loblaw Companies was this decision was the direct result of?

Which of the following is indicative of a second mover strategy?

How can relationship marketing help a company?

The product manager for a new mousetrap informs the board of directors at its annual meeting that the product has been classified as a dog. What does this mean about the product?

What is a marketing mix? In order for a product to succeed, what can be said about the variables in the product mix?

Which of the following is an example of a firm's weakness discovered by a SWOT analysis?

Apple iTunes is an example of a successful first mover.

Compared with other organization personnel, who devotes more time to long-range strategic planning?

What type of market is the group of people to whom a firm directs its marketing efforts?

In SWOT analysis, what are situations in which organizations are unable to capitalize on opportunities because of internal limitations referred to as?

Which company has followed a second mover strategy?

According to the BCG matrix, cash cow businesses produce strong cash flows and invest heavily in the unit's own promotions and production capacity.

Marketing: the Art and Science of Satisfying Customers

The Marketing Environment, Ethics, and Social Responsibility

Digital Marketing and Social Media: Living in the Connected World

Consumer Behaviour

Business-To-Business B2b Marketing

Serving Global Markets

Marketing Research, Decision Support Systems, and Sales Forecasting

Marketing Segmentation, Targeting, and Positioning

Product and Service Strategies

Developing and Managing Brand and Product Strategies

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Digital Communications

Personal Selling and Sales Promotion

Pricing Concepts and Strategies

Relationship Marketing and Customer Relationship Management CRM

Filters