Question 1

Corporate level plans are developed for each strategic business unit.

Accepted Answer

A) True 
 B)False

Question 2

A divested product is one that the firm drops or sells.

Accepted Answer

A) True 
 B)False

Question 3

Michael Porter's five forces model includes all of the following EXCEPT:

Accepted Answer

A) rivalries of existing companies. 
B) threat of substitute products. 
C) bargaining power of buyers. 
D) threat of supplier penetration development. 
E) threat of new entrants. 
A) rivalries of existing companies. 
B) threat of substitute products. 
C) bargaining power of buyers. 
D) threat of supplier penetration development. 
E) threat of new entrants.

Question 4

Most for-profit organizations publish their objectives.

Accepted Answer

A) True 
 B)False

Question 5

An approach to analyzing various businesses relative to one another is known as a _____.

Accepted Answer

portfolio-

Question 6

List and describe the parts of Porter's five forces model and explain how it is utilized by companies.

Accepted Answer

The five forces include:
1)Bargaining Po

Question 7

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

Accepted Answer

The answer of A _____ is a strategic plan at...

Question 8

Offering consumers special promotions or low prices with the intent to encourage them to buy products is part of a _____strategy.

Accepted Answer

The answer of Offering consumers special promotions or low prices...

Question 9

If a company has multiple planning levels,the plans must be:

Accepted Answer

A) consistent and all must help achieve individual goals. 
B) approved by all departments within an organization. 
C) adhered to regardless of external factors. 
D) consistent and all must help achieve the overall goals of the corporation. 
E) the same for each strategic business unit. 
A) consistent and all must help achieve individual goals. 
B) approved by all departments within an organization. 
C) adhered to regardless of external factors. 
D) consistent and all must help achieve the overall goals of the corporation. 
E) the same for each strategic business unit.

Question 10

A firm's objectives should be:

Accepted Answer

A) goals to shoot for but expect to fall short on. 
B) realistic and measurable. 
C) reliable and dependable. 
D) focused on revenue. 
E) practical and successful. 
A) goals to shoot for but expect to fall short on. 
B) realistic and measurable. 
C) reliable and dependable. 
D) focused on revenue. 
E) practical and successful.

Question 11

_____ combines the expertise and investments of two companies and helps companies enter foreign markets.

Accepted Answer

A) Exporting 
B) Licensing 
C) A joint venture 
D) Contract manufacturing 
E) Direct investment 
A) Exporting 
B) Licensing 
C) A joint venture 
D) Contract manufacturing 
E) Direct investment

Question 12

Which of the following refers to a product with a low growth and low market share?

Accepted Answer

A) Star 
B) Cash cow 
C) Question mark 
D) Dog 
E) Harvest product 
A) Star 
B) Cash cow 
C) Question mark 
D) Dog 
E) Harvest product

Question 13

List and describe the six types of market-development strategies outlined in your text.Which is the most risky and which is the least risky?

Accepted Answer

1)Export-Firms who sell their products t

Question 14

Explain how strategic business units are evaluated using the Boston Consulting Group matrix.

Accepted Answer

Strategic business units are evaluated b

Question 15

A _____ is a road map that improves the firm's understanding of its competitive situation.

Accepted Answer

A) marketing plan 
B) mission statement 
C) situation analysis 
D) SWOT analysis 
E) direct competitor analysis 
A) marketing plan 
B) mission statement 
C) situation analysis 
D) SWOT analysis 
E) direct competitor analysis

Question 16

Which of the following does the General Electric approach examine?

Accepted Answer

A) A business's strengths and the attractiveness of industries. 
B) A business's strengths and the weaknesses of the external environment. 
C) Stars,cash cows,question marks,and dogs. 
D) Strategic business units based on their relative market shares and growth rates. 
E) Strategic business units based on their SWOT analysis. 
A) A business's strengths and the attractiveness of industries. 
B) A business's strengths and the weaknesses of the external environment. 
C) Stars,cash cows,question marks,and dogs. 
D) Strategic business units based on their relative market shares and growth rates. 
E) Strategic business units based on their SWOT analysis.

Question 17

A value proposition states the:

Accepted Answer

A) firm's strategy for entering new markets with new product or service offerings. 
B) firm's marketing objectives. 
C) firm's pricing strategy. 
D) buyer's purchase incentives. 
E) specific benefits a product or service offering provides to a buyer. 
A) firm's strategy for entering new markets with new product or service offerings. 
B) firm's marketing objectives. 
C) firm's pricing strategy. 
D) buyer's purchase incentives. 
E) specific benefits a product or service offering provides to a buyer.

Question 18

The _____ is a portfolio-planning approach that examines strategic business units based on their relative market shares and growth rates.

Accepted Answer

Boston Con

Question 19

Corporate level plans help to achieve the overall goals of the corporation while business level plans help to achieve goals at the individual business level.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following strategies involves offering products that are unrelated to other existing products produced by the organization?

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

Corporate level plans are developed for each strategic business unit.

A divested product is one that the firm drops or sells.

Michael Porter's five forces model includes all of the following EXCEPT:

Most for-profit organizations publish their objectives.

An approach to analyzing various businesses relative to one another is known as a _____.

List and describe the parts of Porter's five forces model and explain how it is utilized by companies.

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

Offering consumers special promotions or low prices with the intent to encourage them to buy products is part of a _____strategy.

If a company has multiple planning levels,the plans must be:

A firm's objectives should be:

_____ combines the expertise and investments of two companies and helps companies enter foreign markets.

Which of the following refers to a product with a low growth and low market share?

List and describe the six types of market-development strategies outlined in your text.Which is the most risky and which is the least risky?

Explain how strategic business units are evaluated using the Boston Consulting Group matrix.

A _____ is a road map that improves the firm's understanding of its competitive situation.

Which of the following does the General Electric approach examine?

A value proposition states the:

The _____ is a portfolio-planning approach that examines strategic business units based on their relative market shares and growth rates.

Corporate level plans help to achieve the overall goals of the corporation while business level plans help to achieve goals at the individual business level.

Which of the following strategies involves offering products that are unrelated to other existing products produced by the organization?

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

Corporate level plans are developed for each strategic business unit.

A divested product is one that the firm drops or sells.

Michael Porter's five forces model includes all of the following EXCEPT:

Most for-profit organizations publish their objectives.

An approach to analyzing various businesses relative to one another is known as a _____.

List and describe the parts of Porter's five forces model and explain how it is utilized by companies.

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

Offering consumers special promotions or low prices with the intent to encourage them to buy products is part of a _____strategy.

If a company has multiple planning levels,the plans must be:

A firm's objectives should be:

_____ combines the expertise and investments of two companies and helps companies enter foreign markets.

Which of the following refers to a product with a low growth and low market share?

List and describe the six types of market-development strategies outlined in your text.Which is the most risky and which is the least risky?

Explain how strategic business units are evaluated using the Boston Consulting Group matrix.

A _____ is a road map that improves the firm's understanding of its competitive situation.

Which of the following does the General Electric approach examine?

A value proposition states the:

The _____ is a portfolio-planning approach that examines strategic business units based on their relative market shares and growth rates.

Corporate level plans help to achieve the overall goals of the corporation while business level plans help to achieve goals at the individual business level.

Which of the following strategies involves offering products that are unrelated to other existing products produced by the organization?

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