Question 1

Who should complete operational planning?

Accepted Answer

A)  top management 
B)  mid-level managers 
C)  supervisory management 
D)  lower management 
A)  top management 
B)  mid-level managers 
C)  supervisory management 
D)  lower management

Question 2

The number of suppliers available to a manufacturer or retailer affects the bargaining power of the manufacturer or retailer.

Accepted Answer

A) True 
 B)False

Question 3

The planning process creates a blueprint that everyone in the organization must follow in order to achieve the organizational objectives.

Accepted Answer

A) True 
 B)False

Question 4

A target market is a group of customers toward whom a firm directs its marketing efforts.

Accepted Answer

A) True 
 B)False

Question 5

Statements such as "achieve a 25 percent market share by 2020" or "open 50 and 75 new stores for each of the next five years" are typically part of mission statements.

Accepted Answer

A) True 
 B)False

Question 6

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
-The _____ process involves implementing planning activities devoted to achieving marketing objectives.

Accepted Answer

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

Question 7

What are an organization's basic objectives or goals derived from?

Accepted Answer

A)  its strategic plan 
B)  its tactical plan 
C)  its corporate strategy 
D)  its mission statement 
A)  its strategic plan 
B)  its tactical plan 
C)  its corporate strategy 
D)  its mission statement

Question 8

All planning strategies have the goal of creating a sustainable competitive advantage for a firm which other companies cannot imitate.

Accepted Answer

A) True 
 B)False

Question 9

According to the market share/market growth matrix, what is the SBU that produces strong cash flows that can be used to finance the growth of other SBUs?

Accepted Answer

A)  dog 
B)  question mark 
C)  cash cow 
D)  star 
A)  dog 
B)  question mark 
C)  cash cow 
D)  star

Question 10

Competition seldom has a significant effect on a marketer's pricing strategy.

Accepted Answer

A) True 
 B)False

Question 11

An automobile manufacturer is dependent on a single supplier for tires. Based on this information, which statement best describes the situation faced by the manufacturer?

Accepted Answer

A)  The barriers to market entry are low. 
B)  The buyer has greater bargaining power. 
C)  The threat of new entrants is high. 
D)  The supplier has significant bargaining power. 
A)  The barriers to market entry are low. 
B)  The buyer has greater bargaining power. 
C)  The threat of new entrants is high. 
D)  The supplier has significant bargaining power.

Question 12

Planning often is classified on the basis of its scope or breadth.

Accepted Answer

A) True 
 B)False

Question 13

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
-is the process of anticipating future events and conditions and determining the best way to achieve organizational objectives.

Accepted Answer

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

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
-A _____ is the overall, companywide program for selecting a particular target market and then satisfying consumers in that market through the marketing mix.

Accepted Answer

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

Question 15

Strategic planning has a critical impact on a firm's destiny. What does it provide to its decision makers?

Accepted Answer

A)  customer input 
B)  individual goals 
C)  departmental goals 
D)  long-term direction 
A)  customer input 
B)  individual goals 
C)  departmental goals 
D)  long-term direction

Question 16

Assume a firm would like to expand its product line. A complete expansion would cost $100 million, but the firm can raise only $75 million in financing. What is this best classified as?

Accepted Answer

A)  a constraint 
B)  an opportunity 
C)  a threat 
D)  a vulnerability 
A)  a constraint 
B)  an opportunity 
C)  a threat 
D)  a vulnerability

Question 17

SWOT analysis refers to examination of a firm's stability, work ethic, organizational structure, and technological expertise.

Accepted Answer

A) True 
 B)False

Question 18

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
-are key business units within diversified firms.

Accepted Answer

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

Question 19

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
-command high market shares in low-growth markets.

Accepted Answer

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

Question 20

Which statement best describes operational planning?

Accepted Answer

A)  It should be used to establish the fundamental strategies of the organization. 
B)  It is used to determine departmental rules and procedures. 
C)  It is the primary responsibility of top management. 
D)  It should be completed at the same time that the total budget is prepared. 
A)  It should be used to establish the fundamental strategies of the organization. 
B)  It is used to determine departmental rules and procedures. 
C)  It is the primary responsibility of top management. 
D)  It should be completed at the same time that the total budget is prepared.

Who should complete operational planning?

The number of suppliers available to a manufacturer or retailer affects the bargaining power of the manufacturer or retailer.

The planning process creates a blueprint that everyone in the organization must follow in order to achieve the organizational objectives.

A target market is a group of customers toward whom a firm directs its marketing efforts.

Statements such as "achieve a 25 percent market share by 2020" or "open 50 and 75 new stores for each of the next five years" are typically part of mission statements.

What are an organization's basic objectives or goals derived from?

All planning strategies have the goal of creating a sustainable competitive advantage for a firm which other companies cannot imitate.

According to the market share/market growth matrix, what is the SBU that produces strong cash flows that can be used to finance the growth of other SBUs?

Competition seldom has a significant effect on a marketer's pricing strategy.

An automobile manufacturer is dependent on a single supplier for tires. Based on this information, which statement best describes the situation faced by the manufacturer?

Planning often is classified on the basis of its scope or breadth.

Strategic planning has a critical impact on a firm's destiny. What does it provide to its decision makers?

Assume a firm would like to expand its product line. A complete expansion would cost $100 million, but the firm can raise only $75 million in financing. What is this best classified as?

SWOT analysis refers to examination of a firm's stability, work ethic, organizational structure, and technological expertise.

Which statement best describes operational planning?

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

Who should complete operational planning?

The number of suppliers available to a manufacturer or retailer affects the bargaining power of the manufacturer or retailer.

The planning process creates a blueprint that everyone in the organization must follow in order to achieve the organizational objectives.

A target market is a group of customers toward whom a firm directs its marketing efforts.

Statements such as "achieve a 25 percent market share by 2020" or "open 50 and 75 new stores for each of the next five years" are typically part of mission statements.

What are an organization's basic objectives or goals derived from?

All planning strategies have the goal of creating a sustainable competitive advantage for a firm which other companies cannot imitate.

According to the market share/market growth matrix, what is the SBU that produces strong cash flows that can be used to finance the growth of other SBUs?

Competition seldom has a significant effect on a marketer's pricing strategy.

An automobile manufacturer is dependent on a single supplier for tires. Based on this information, which statement best describes the situation faced by the manufacturer?

Planning often is classified on the basis of its scope or breadth.

Strategic planning has a critical impact on a firm's destiny. What does it provide to its decision makers?

Assume a firm would like to expand its product line. A complete expansion would cost $100 million, but the firm can raise only $75 million in financing. What is this best classified as?

SWOT analysis refers to examination of a firm's stability, work ethic, organizational structure, and technological expertise.

Which statement best describes operational planning?

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