Question 1

According to the BCG market share/market growth matrix, what type of firms should the revenues earned from cash cows be used to finance?

Accepted Answer

A)  stars and dogs 
B)  dogs and question marks 
C)  stars and question marks 
D)  question marks and other cash cows 
A)  stars and dogs 
B)  dogs and question marks 
C)  stars and question marks 
D)  question marks and other cash cows

Question 2

ADA Inc. stopped its production of oral care goods after determining apparel production to be its new primary objective. What planning process at ADA Inc. is this a direct result of?

Accepted Answer

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

Question 3

The five dimensions of the marketing environment exert a fairly constant and static influence on marketing strategies.

Accepted Answer

A) True 
 B)False

Question 4

The ability to download Microsoft and IBM software products directly from the Internet is part of each firms' pricing strategy.

Accepted Answer

A) True 
 B)False

Question 5

Middle and supervisory-level managers spend less time than CEOs on planning activities.

Accepted Answer

A) True 
 B)False

Question 6

By 2017, it is expected that Chinese and South Asians will comprise 50 percent of the visible minorities in Canada.

Accepted Answer

A) True 
 B)False

Question 7

Which statement describes a first mover strategy in comparison to a second mover strategy?

Accepted Answer

A)  The first mover strategy is more risky but offers higher reward. 
B)  The first mover strategy is more risky and offers lower reward. 
C)  The first mover strategy is less risky and offers higher reward. 
D)  The first mover strategy is less risky but offers lower reward. 
A)  The first mover strategy is more risky but offers higher reward. 
B)  The first mover strategy is more risky and offers lower reward. 
C)  The first mover strategy is less risky and offers higher reward. 
D)  The first mover strategy is less risky but offers lower reward.

Question 8

A SWOT analysis helps planners compare internal organizational strengths and weaknesses with external opportunities and threats.

Accepted Answer

A) True 
 B)False

Question 9

What is a result of tactical planning?

Accepted Answer

A)  total budget 
B)  long-term plans 
C)  divisional budgets 
D)  departmental rules 
A)  total budget 
B)  long-term plans 
C)  divisional budgets 
D)  departmental rules

Question 10

General Motors has difficulty competing with other car makers because of its lack of responsiveness to changing consumer preferences. In SWOT terms, what does this constitute?

Accepted Answer

A)  strategic window 
B)  leveraged situation 
C)  productivity challenge 
D)  constraint on its activity 
A)  strategic window 
B)  leveraged situation 
C)  productivity challenge 
D)  constraint on its activity

Question 11

The position of an SBU along the horizontal axis indicates the annual growth rate of the market.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following is NOT a company objective?

Accepted Answer

A)  to increase sales by 10 percent per year 
B)  to be the quality and market leader of the global hotel industry 
C)  to reduce product errors to less than one percent 
D)  to add five new properties to the company portfolio 
A)  to increase sales by 10 percent per year 
B)  to be the quality and market leader of the global hotel industry 
C)  to reduce product errors to less than one percent 
D)  to add five new properties to the company portfolio

Question 13

Targeting consumers in specific global markets still remains a challenge.

Accepted Answer

A) True 
 B)False

Question 14

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
-Limited periods during which the key requirements of a market and the resources and skills of an organization best fit together are called the _____.

Accepted Answer

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

Question 15

Which of the following best describes the strategic business unit (SBU) concept?

Accepted Answer

A)  a planning tool that separates tactical and operational issues for analysis 
B)  a device used primarily to separate marketing costs from production expenses 
C)  a marketing planning tool best suited to the needs of large, diversified organizations 
D)  a way to create units of business activity based solely on sales potential 
A)  a planning tool that separates tactical and operational issues for analysis 
B)  a device used primarily to separate marketing costs from production expenses 
C)  a marketing planning tool best suited to the needs of large, diversified organizations 
D)  a way to create units of business activity based solely on sales potential

Question 16

A drapery manufacturer has experienced difficulty attracting customers to its showroom. Competitors are advertising online with discounts and free installation, and the company's sole supplier of silks and tapestries has increased prices. Additionally, competitive draperies made overseas with cheaper silks are entering the marketplace. The drapery manufacturer is faced with a planning challenge addressed in Porter's Five Forces.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is NOT a marketing mix variable?

Accepted Answer

A)  distribution 
B)  product 
C)  target market 
D)  pricing 
A)  distribution 
B)  product 
C)  target market 
D)  pricing

Question 18

Miranda has been named to an upper-level management position at social media company TextUS Services. She will be working with transportation media, order processing, and development of marketing channels. What strategies would Miranda be involved in developing?

Accepted Answer

A)  product 
B)  distribution 
C)  promotional 
D)  marketing 
A)  product 
B)  distribution 
C)  promotional 
D)  marketing

Question 19

Strategic plans focus on courses of action necessary to achieve the organization's secondary objectives.

Accepted Answer

A) True 
 B)False

Question 20

What does the quadrant of the market share/market growth matrix that represents both a high market share and a high rate of market growth include?

Accepted Answer

A)  cash cows 
B)  achievers 
C)  stars 
D)  strivers 
A)  cash cows 
B)  achievers 
C)  stars 
D)  strivers

According to the BCG market share/market growth matrix, what type of firms should the revenues earned from cash cows be used to finance?

ADA Inc. stopped its production of oral care goods after determining apparel production to be its new primary objective. What planning process at ADA Inc. is this a direct result of?

The five dimensions of the marketing environment exert a fairly constant and static influence on marketing strategies.

The ability to download Microsoft and IBM software products directly from the Internet is part of each firms' pricing strategy.

Middle and supervisory-level managers spend less time than CEOs on planning activities.

By 2017, it is expected that Chinese and South Asians will comprise 50 percent of the visible minorities in Canada.

Which statement describes a first mover strategy in comparison to a second mover strategy?

A SWOT analysis helps planners compare internal organizational strengths and weaknesses with external opportunities and threats.

What is a result of tactical planning?

General Motors has difficulty competing with other car makers because of its lack of responsiveness to changing consumer preferences. In SWOT terms, what does this constitute?

The position of an SBU along the horizontal axis indicates the annual growth rate of the market.

Which of the following is NOT a company objective?

Targeting consumers in specific global markets still remains a challenge.

Which of the following best describes the strategic business unit (SBU) concept?

Which of the following is NOT a marketing mix variable?

Miranda has been named to an upper-level management position at social media company TextUS Services. She will be working with transportation media, order processing, and development of marketing channels. What strategies would Miranda be involved in developing?

Strategic plans focus on courses of action necessary to achieve the organization's secondary objectives.

What does the quadrant of the market share/market growth matrix that represents both a high market share and a high rate of market growth include?

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

According to the BCG market share/market growth matrix, what type of firms should the revenues earned from cash cows be used to finance?

ADA Inc. stopped its production of oral care goods after determining apparel production to be its new primary objective. What planning process at ADA Inc. is this a direct result of?

The five dimensions of the marketing environment exert a fairly constant and static influence on marketing strategies.

The ability to download Microsoft and IBM software products directly from the Internet is part of each firms' pricing strategy.

Middle and supervisory-level managers spend less time than CEOs on planning activities.

By 2017, it is expected that Chinese and South Asians will comprise 50 percent of the visible minorities in Canada.

Which statement describes a first mover strategy in comparison to a second mover strategy?

A SWOT analysis helps planners compare internal organizational strengths and weaknesses with external opportunities and threats.

What is a result of tactical planning?

General Motors has difficulty competing with other car makers because of its lack of responsiveness to changing consumer preferences. In SWOT terms, what does this constitute?

The position of an SBU along the horizontal axis indicates the annual growth rate of the market.

Which of the following is NOT a company objective?

Targeting consumers in specific global markets still remains a challenge.

Which of the following best describes the strategic business unit (SBU) concept?

Which of the following is NOT a marketing mix variable?

Miranda has been named to an upper-level management position at social media company TextUS Services. She will be working with transportation media, order processing, and development of marketing channels. What strategies would Miranda be involved in developing?

Strategic plans focus on courses of action necessary to achieve the organization's secondary objectives.

What does the quadrant of the market share/market growth matrix that represents both a high market share and a high rate of market growth include?

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