Question 1

A value proposition is utilized not only by firms,but also by individuals.

Accepted Answer

A) True 
 B)False

Question 2

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

Accepted Answer

external e

Question 3

A well-developed value proposition:

Accepted Answer

A) focuses on the external market,or what customers want. 
B) conveys the firm's profits. 
C) focuses on the supply chain's benefits. 
D) increases product development. 
E) differentiates from buyers in the market. 
A) focuses on the external market,or what customers want. 
B) conveys the firm's profits. 
C) focuses on the supply chain's benefits. 
D) increases product development. 
E) differentiates from buyers in the market.

Question 4

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 5

A _____ strategy involves selling more of existing products and services to existing 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 6

A cookie company has decided to add a brownie product line to their inventory.Which of the following strategies is being employed by this company?

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 7

A skincare company has decided to market its lotion to older women in addition to its current youth female market.This company is utilizing a _____ strategy.

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 8

Selling a product to buyers abroad is known as _____.

Accepted Answer

The answer of Selling a product to buyers abroad is...

Question 9

The Boston Consulting Group matrix evaluates each of its strategic business units based on how fast the unit is growing compared to the industry in which it competes and:

Accepted Answer

A) how much revenue the unit is forecasted to gross. 
B) how the unit's share of the market compares to the market share of its competitors. 
C) how the unit's competitors market their products. 
D) how much advertising will cost the unit. 
E) how many strengths and opportunities were in the unit's SWOT analysis. 
A) how much revenue the unit is forecasted to gross. 
B) how the unit's share of the market compares to the market share of its competitors. 
C) how the unit's competitors market their products. 
D) how much advertising will cost the unit. 
E) how many strengths and opportunities were in the unit's SWOT analysis.

Question 10

Goodyear's strategic business units are set up to satisfy customers' needs:

Accepted Answer

A) in different worldwide markets. 
B) in different automotive categories. 
C) through market penetration. 
D) in different product categories. 
E) through value segmentation. 
A) in different worldwide markets. 
B) in different automotive categories. 
C) through market penetration. 
D) in different product categories. 
E) through value segmentation.

Question 11

A market-penetration strategy involves selling more of existing products and services to existing customers.

Accepted Answer

A) True 
 B)False

Question 12

The _____ is a portfolio-planning approach that examines a business's strengths and the attractiveness of industries.

Accepted Answer

General El

Question 13

Opportunities and threats are internal to the organization and are largely uncontrollable.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following processes helps an organization allocate its resources under different conditions to accomplish its objectives,deliver value,and be competitive in a market-driven economy?

Accepted Answer

A) Corporate planning 
B) Strategic planning 
C) Business planning 
D) Market forecasting 
E) Business forecasting 
A) Corporate planning 
B) Strategic planning 
C) Business planning 
D) Market forecasting 
E) Business forecasting

Question 15

The group of customers toward which an organization directs its marketing efforts is known as the _____.

Accepted Answer

A) constituency 
B) target market 
C) direct market 
D) value group 
E) key market 
A) constituency 
B) target market 
C) direct market 
D) value group 
E) key market

Question 16

An auto company decided to downsize a current vehicle model into a smaller SUV.This is known as utilizing a _____ strategy.

Accepted Answer

The answer of An auto company decided to downsize a...

Question 17

Which of the following refers to a cash cow?

Accepted Answer

A) A product with high growth and a high market share. 
B) A product with a long-term future. 
C) A product with low growth and a low market share. 
D) A product with low growth and a high market share. 
E) A product with high growth and a low market share. 
A) A product with high growth and a high market share. 
B) A product with a long-term future. 
C) A product with low growth and a low market share. 
D) A product with low growth and a high market share. 
E) A product with high growth and a low market share.

Question 18

The success sequence involves taking money from _____ and investing it into _____ in hopes of them becoming _____.

Accepted Answer

A) cash cows; question marks; dogs 
B) cash cows; question marks; stars 
C) dogs; question marks; stars 
D) dogs; cash cows; stars 
E) question marks; stars; cash cows 
A) cash cows; question marks; dogs 
B) cash cows; question marks; stars 
C) dogs; question marks; stars 
D) dogs; cash cows; stars 
E) question marks; stars; cash cows

Question 19

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 20

_____ are internal factors that are somewhat controllable and can be utilized by the company to create a competitive advantage.

Accepted Answer

The answer of _____ are internal factors that are somewhat...

A value proposition is utilized not only by firms,but also by individuals.

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

A well-developed value proposition:

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?

A _____ strategy involves selling more of existing products and services to existing customers.

A cookie company has decided to add a brownie product line to their inventory.Which of the following strategies is being employed by this company?

A skincare company has decided to market its lotion to older women in addition to its current youth female market.This company is utilizing a _____ strategy.

Selling a product to buyers abroad is known as _____.

The Boston Consulting Group matrix evaluates each of its strategic business units based on how fast the unit is growing compared to the industry in which it competes and:

Goodyear's strategic business units are set up to satisfy customers' needs:

A market-penetration strategy involves selling more of existing products and services to existing customers.

The _____ is a portfolio-planning approach that examines a business's strengths and the attractiveness of industries.

Opportunities and threats are internal to the organization and are largely uncontrollable.

Which of the following processes helps an organization allocate its resources under different conditions to accomplish its objectives,deliver value,and be competitive in a market-driven economy?

The group of customers toward which an organization directs its marketing efforts is known as the _____.

An auto company decided to downsize a current vehicle model into a smaller SUV.This is known as utilizing a _____ strategy.

Which of the following refers to a cash cow?

The success sequence involves taking money from ___ and investing it into _ in hopes of them becoming ___.

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

_____ are internal factors that are somewhat controllable and can be utilized by the company to create a competitive advantage.

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 Traditional Media Marketing

Digital Marketing

Professional Selling

Customer Satisfaction, loyalty, and Empowerment

Price, the Only Revenue Generator

The Marketing Plan

Filters

Exam 2: Strategic Planning

A value proposition is utilized not only by firms,but also by individuals.

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

A well-developed value proposition:

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?

A _____ strategy involves selling more of existing products and services to existing customers.

A cookie company has decided to add a brownie product line to their inventory.Which of the following strategies is being employed by this company?

A skincare company has decided to market its lotion to older women in addition to its current youth female market.This company is utilizing a _____ strategy.

Selling a product to buyers abroad is known as _____.

The Boston Consulting Group matrix evaluates each of its strategic business units based on how fast the unit is growing compared to the industry in which it competes and:

Goodyear's strategic business units are set up to satisfy customers' needs:

A market-penetration strategy involves selling more of existing products and services to existing customers.

The _____ is a portfolio-planning approach that examines a business's strengths and the attractiveness of industries.

Opportunities and threats are internal to the organization and are largely uncontrollable.

Which of the following processes helps an organization allocate its resources under different conditions to accomplish its objectives,deliver value,and be competitive in a market-driven economy?

The group of customers toward which an organization directs its marketing efforts is known as the _____.

An auto company decided to downsize a current vehicle model into a smaller SUV.This is known as utilizing a _____ strategy.

Which of the following refers to a cash cow?

The success sequence involves taking money from _____ and investing it into _____ in hopes of them becoming _____.

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

_____ are internal factors that are somewhat controllable and can be utilized by the company to create a competitive advantage.

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 Traditional Media Marketing

Digital Marketing

Professional Selling

Customer Satisfaction, loyalty, and Empowerment

Price, the Only Revenue Generator

The Marketing Plan

Filters

The success sequence involves taking money from ___ and investing it into _ in hopes of them becoming ___.