Question 1

What part of the organization should be most involved in formulating strategy for success of the good or service in the marketplace?

Accepted Answer

A)  corporate executive team 
B)  potential customer 
C)  vendors and channel members 
D)  firm's marketing personnel 
A)  corporate executive team 
B)  potential customer 
C)  vendors and channel members 
D)  firm's marketing personnel

Question 2

The planning process begins at the corporate level with the development of strategic objectives.

Accepted Answer

A) True 
 B)False

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
-identifies five competitive forces that influence planning strategies.

Accepted Answer

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

Question 4

Each SBU in a firm prepares its plans in collaboration with other units in the organization.

Accepted Answer

A) True 
 B)False

Question 5

What does a distribution strategy involve? Define two marketing channels.

Accepted Answer

Marketers develop distribution strategie

Question 6

Strategic planning has a minimal impact on a firm's destiny because it provides only short-term direction for decision makers.

Accepted Answer

A) True 
 B)False

Question 7

What is the most risky growth strategy for a company to pursue?

Accepted Answer

A)  product development 
B)  diversification 
C)  market penetration 
D)  market development 
A)  product development 
B)  diversification 
C)  market penetration 
D)  market development

Question 8

According to the BCG matrix, if a question mark cannot become a star, the firm should pull out of the market and target other markets with greater potential.

Accepted Answer

A) True 
 B)False

Question 9

The Internet has impacted business by increasing the barriers to market entry faced by new firms.

Accepted Answer

A) True 
 B)False

Question 10

Describe the aspects of strategic and tactical planning.

Accepted Answer

a. Strategic planning is the process of

Question 11

The pricing strategy is the area of marketing that receives the least amount of public scrutiny.

Accepted Answer

A) True 
 B)False

Question 12

What type of plan does a company have when it focuses largely on current and near-future activities?

Accepted Answer

A)  strategic 
B)  marketing 
C)  economic 
D)  tactical 
A)  strategic 
B)  marketing 
C)  economic 
D)  tactical

Question 13

What does marketing planning establish?

Accepted Answer

A)  the resource base provided by the firm's strategy 
B)  the economic impact of additional sales 
C)  the tactical plans that must be implemented by the entire organization 
D)  the basis for attaining marketing objectives 
A)  the resource base provided by the firm's strategy 
B)  the economic impact of additional sales 
C)  the tactical plans that must be implemented by the entire organization 
D)  the basis for attaining marketing objectives

Question 14

Detailed organizational objectives should state specific intentions, such as "Snapple Corporation seeks to increase its share of the non-carbonated soft drink market to 25 percent within the next two years."

Accepted Answer

A) True 
 B)False

Question 15

According to the rule of three, what percentage of the market will the three leading firms in an industry have?

Accepted Answer

A)  less than 25 percent 
B)  between 30 and 50 percent 
C)  between 70 and 90 percent 
D)  nearly 100 percent 
A)  less than 25 percent 
B)  between 30 and 50 percent 
C)  between 70 and 90 percent 
D)  nearly 100 percent

Question 16

Which of the following defines an organization's mission?

Accepted Answer

A)  process of anticipating future events and conditions 
B)  companywide program for scaling down the product-lines that are low on profitability 
C)  essential purpose that differentiates one company from others 
D)  collection of limited periods during which key requirements of a market and a firm's particular competencies best fit together 
A)  process of anticipating future events and conditions 
B)  companywide program for scaling down the product-lines that are low on profitability 
C)  essential purpose that differentiates one company from others 
D)  collection of limited periods during which key requirements of a market and a firm's particular competencies best fit together

Question 17

In a SWOT analysis, when is a constraint present?

Accepted Answer

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

Question 18

Which of the following is a dimension of Porter's Five Forces model?

Accepted Answer

A)  bargaining power of buyers 
B)  existence of second movers 
C)  existing firms in the business environment 
D)  rivalry among strategic business units 
A)  bargaining power of buyers 
B)  existence of second movers 
C)  existing firms in the business environment 
D)  rivalry among strategic business units

Question 19

What is SWOT an acronym for?

Accepted Answer

A)  strategy, work, opinions, tactics 
B)  strengths, weaknesses, opportunities, threats 
C)  strategy, work, openness, toughness 
D)  strategy, weakness, opinions, tactics 
A)  strategy, work, opinions, tactics 
B)  strengths, weaknesses, opportunities, threats 
C)  strategy, work, openness, toughness 
D)  strategy, weakness, opinions, tactics

Question 20

The disadvantage of core competencies is that they can be easily duplicated by competitors.

Accepted Answer

A) True 
 B)False

What part of the organization should be most involved in formulating strategy for success of the good or service in the marketplace?

The planning process begins at the corporate level with the development of strategic objectives.

Each SBU in a firm prepares its plans in collaboration with other units in the organization.

What does a distribution strategy involve? Define two marketing channels.

Strategic planning has a minimal impact on a firm's destiny because it provides only short-term direction for decision makers.

What is the most risky growth strategy for a company to pursue?

According to the BCG matrix, if a question mark cannot become a star, the firm should pull out of the market and target other markets with greater potential.

The Internet has impacted business by increasing the barriers to market entry faced by new firms.

Describe the aspects of strategic and tactical planning.

The pricing strategy is the area of marketing that receives the least amount of public scrutiny.

What type of plan does a company have when it focuses largely on current and near-future activities?

What does marketing planning establish?

Detailed organizational objectives should state specific intentions, such as "Snapple Corporation seeks to increase its share of the non-carbonated soft drink market to 25 percent within the next two years."

According to the rule of three, what percentage of the market will the three leading firms in an industry have?

Which of the following defines an organization's mission?

In a SWOT analysis, when is a constraint present?

Which of the following is a dimension of Porter's Five Forces model?

What is SWOT an acronym for?

The disadvantage of core competencies is that they can be easily duplicated by competitors.

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

Exam 2: Strategic Planning in Contemporary Marketing

What part of the organization should be most involved in formulating strategy for success of the good or service in the marketplace?

The planning process begins at the corporate level with the development of strategic objectives.

Each SBU in a firm prepares its plans in collaboration with other units in the organization.

What does a distribution strategy involve? Define two marketing channels.

Strategic planning has a minimal impact on a firm's destiny because it provides only short-term direction for decision makers.

What is the most risky growth strategy for a company to pursue?

According to the BCG matrix, if a question mark cannot become a star, the firm should pull out of the market and target other markets with greater potential.

The Internet has impacted business by increasing the barriers to market entry faced by new firms.

Describe the aspects of strategic and tactical planning.

The pricing strategy is the area of marketing that receives the least amount of public scrutiny.

What type of plan does a company have when it focuses largely on current and near-future activities?

What does marketing planning establish?

Detailed organizational objectives should state specific intentions, such as "Snapple Corporation seeks to increase its share of the non-carbonated soft drink market to 25 percent within the next two years."

According to the rule of three, what percentage of the market will the three leading firms in an industry have?

Which of the following defines an organization's mission?

In a SWOT analysis, when is a constraint present?

Which of the following is a dimension of Porter's Five Forces model?

What is SWOT an acronym for?

The disadvantage of core competencies is that they can be easily duplicated by competitors.

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