Question 1

Marketing managers rely on customer databases for effective implementation of the market penetration strategy.

Accepted Answer

A) True 
 B)False

Question 2

In the context of implementation,which of the following statements is true of a task force?

Accepted Answer

A) ​Authority is equally vested to each employee. 
B) It is established to accomplish a single goal or mission. 
C) It works independent of a specific deadline. 
D) ​Task force is set up for simple rather than strategic plans. 
A) ​Authority is equally vested to each employee. 
B) It is established to accomplish a single goal or mission. 
C) It works independent of a specific deadline. 
D) ​Task force is set up for simple rather than strategic plans.

Question 3

Unlike product development,market development involves opening businesses in markets that are already served by separate,well-established companies.

Accepted Answer

A) True 
 B)False

Question 4

In the context of marketing planning,which of the following statements is true of implementation?

Accepted Answer

A) ​It gauges the extent to which marketing objectives have been achieved during the specified time period. 
B) Brilliant marketing plans succeed even without proper implementation. 
C) It involves a lot of communication for executing a plan. 
D) ​Managers hold the power to decide and implement decisions rather than delegating it. 
A) ​It gauges the extent to which marketing objectives have been achieved during the specified time period. 
B) Brilliant marketing plans succeed even without proper implementation. 
C) It involves a lot of communication for executing a plan. 
D) ​Managers hold the power to decide and implement decisions rather than delegating it.

Question 5

_____ is the strategy of preserving market share so that an organization can take advantage of the very positive cash flow.

Accepted Answer

A) ​Building 
B) Holding 
C) Harvesting 
D) ​Divesting 
A) ​Building 
B) Holding 
C) Harvesting 
D) ​Divesting

Question 6

RegiSure is a strategic business unit that shows low growth but has a dominant market share.Since it has a dominant market share,it should be additionally financed despite its low growth.

Accepted Answer

A) True 
 B)False

Question 7

When properly created,a strategic business unit (SBU)

Accepted Answer

A)  has a specific target market.​ 
B)  plans collaboratively with other SBUs of the company 
C)  has no competitors. 
D) ​ shares the mission of its parent company. 
A)  has a specific target market.​ 
B)  plans collaboratively with other SBUs of the company 
C)  has no competitors. 
D) ​ shares the mission of its parent company.

Question 8

_____ is a thorough,systematic,periodic evaluation of the objectives,strategies,structure,and performance of the marketing organization.

Accepted Answer

A) ​Marketing mix 
B) Diversification 
C) Core innovation 
D) ​Marketing audit 
A) ​Marketing mix 
B) Diversification 
C) Core innovation 
D) ​Marketing audit

Question 9

Discuss the process of market opportunity analysis.

Accepted Answer

Answers will vary.The target market stra

Question 10

According to Ansoff's strategic opportunity matrix,a firm that adopts a diversification strategy:

Accepted Answer

A) ​will profit if it enters a new market with little competition. 
B) will be free from risks in unfamiliar markets. 
C) will decrease the prices of existing products. 
D) ​will sell modified products to existing customers in existing markets. 
A) ​will profit if it enters a new market with little competition. 
B) will be free from risks in unfamiliar markets. 
C) will decrease the prices of existing products. 
D) ​will sell modified products to existing customers in existing markets.

Question 11

Which of the following practices can help businesses gain a cost competitive advantage?

Accepted Answer

A) ​Using simplified production techniques 
B) Using expensive raw materials 
C) Customizing products with extra frills 
D) ​Focusing on serving marginal customers 
A) ​Using simplified production techniques 
B) Using expensive raw materials 
C) Customizing products with extra frills 
D) ​Focusing on serving marginal customers

Question 12

According to Ansoff's strategic opportunity matrix,both product development and diversification entail creating new products.

Accepted Answer

A) True 
 B)False

Question 13

Jove Inc.is a chocolate manufacturer in the city of Lumberne.While most of the companies in the market produce not more than three basic varieties of chocolates,Jove Inc.sells over 50 different varieties of flavored chocolates.This gives it an edge over the other chocolate makers in Lumberne.This is an example of _____.

Accepted Answer

A) ​a divestment 
B) market penetration 
C) a sustainable competitive advantage 
D) ​diversification 
A) ​a divestment 
B) market penetration 
C) a sustainable competitive advantage 
D) ​diversification

Question 14

In the context of marketing planning,implementation involves:

Accepted Answer

A) ​allocating resources. 
B) identifying market segments. 
C) defining the business mission. 
D) ​assessing internal capabilities of a firm. 
A) ​allocating resources. 
B) identifying market segments. 
C) defining the business mission. 
D) ​assessing internal capabilities of a firm.

Question 15

Issues such as product lines,promotional communications,and pricing are all delineated in the _____.

Accepted Answer

A) ​statement of qualification 
B) article of incorporation 
C) marketing plan 
D) ​financial statement 
A) ​statement of qualification 
B) article of incorporation 
C) marketing plan 
D) ​financial statement

Question 16

MaxNutri Inc.sells cookies and nutrition bars.The marketers at MaxNutri Inc.are trying to come up with a new and attractive packaging design for its cookies.In this scenario,MaxNutri Inc.is working on its _____.

Accepted Answer

A) ​purchase strategy 
B) distribution strategy 
C) advertising strategy 
D) ​product strategy 
A) ​purchase strategy 
B) distribution strategy 
C) advertising strategy 
D) ​product strategy

Question 17

According to the Boston Consulting Group's (BCG's)portfolio matrix,a dog shows rapid growth but poor profit margins.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following activities is carried out during implementation of a marketing plan?

Accepted Answer

A) ​Defining the business mission 
B) Performing marketing audit 
C) Setting up strategic business units 
D) ​Creating and managing a task force 
A) ​Defining the business mission 
B) Performing marketing audit 
C) Setting up strategic business units 
D) ​Creating and managing a task force

Question 19

Individuals in the age group of 11 to 16 years who extensively use the internet is an example of a market segment.

Accepted Answer

A) True 
 B)False

Question 20

Unlike a sustainable competitive advantage,a cost competitive advantage:

Accepted Answer

A) ​does not ensure satisfactory profit margins. 
B) requires business firms to reduce after-purchase service options. 
C) involves producing goods that cannot be copied by competitors. 
D) ​is subject to continual erosion. 
A) ​does not ensure satisfactory profit margins. 
B) requires business firms to reduce after-purchase service options. 
C) involves producing goods that cannot be copied by competitors. 
D) ​is subject to continual erosion.

Marketing managers rely on customer databases for effective implementation of the market penetration strategy.

In the context of implementation,which of the following statements is true of a task force?

Unlike product development,market development involves opening businesses in markets that are already served by separate,well-established companies.

In the context of marketing planning,which of the following statements is true of implementation?

_____ is the strategy of preserving market share so that an organization can take advantage of the very positive cash flow.

RegiSure is a strategic business unit that shows low growth but has a dominant market share.Since it has a dominant market share,it should be additionally financed despite its low growth.

When properly created,a strategic business unit (SBU)

_____ is a thorough,systematic,periodic evaluation of the objectives,strategies,structure,and performance of the marketing organization.

Discuss the process of market opportunity analysis.

According to Ansoff's strategic opportunity matrix,a firm that adopts a diversification strategy:

Which of the following practices can help businesses gain a cost competitive advantage?

According to Ansoff's strategic opportunity matrix,both product development and diversification entail creating new products.

In the context of marketing planning,implementation involves:

Issues such as product lines,promotional communications,and pricing are all delineated in the _____.

MaxNutri Inc.sells cookies and nutrition bars.The marketers at MaxNutri Inc.are trying to come up with a new and attractive packaging design for its cookies.In this scenario,MaxNutri Inc.is working on its _____.

According to the Boston Consulting Group's (BCG's)portfolio matrix,a dog shows rapid growth but poor profit margins.

Which of the following activities is carried out during implementation of a marketing plan?

Individuals in the age group of 11 to 16 years who extensively use the internet is an example of a market segment.

Unlike a sustainable competitive advantage,a cost competitive advantage:

An Overview of Marketing

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Supply Chain Management and Marketing Channels

Retailing

Marketing Communications

Advertising, Public Relations and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Pricing Concepts

Filters

Exam 2: Strategic Planning for Competitive Advantage

Marketing managers rely on customer databases for effective implementation of the market penetration strategy.

In the context of implementation,which of the following statements is true of a task force?

Unlike product development,market development involves opening businesses in markets that are already served by separate,well-established companies.

In the context of marketing planning,which of the following statements is true of implementation?

_____ is the strategy of preserving market share so that an organization can take advantage of the very positive cash flow.

RegiSure is a strategic business unit that shows low growth but has a dominant market share.Since it has a dominant market share,it should be additionally financed despite its low growth.

When properly created,a strategic business unit (SBU)

_____ is a thorough,systematic,periodic evaluation of the objectives,strategies,structure,and performance of the marketing organization.

Discuss the process of market opportunity analysis.

According to Ansoff's strategic opportunity matrix,a firm that adopts a diversification strategy:

Which of the following practices can help businesses gain a cost competitive advantage?

According to Ansoff's strategic opportunity matrix,both product development and diversification entail creating new products.

In the context of marketing planning,implementation involves:

Issues such as product lines,promotional communications,and pricing are all delineated in the _____.

MaxNutri Inc.sells cookies and nutrition bars.The marketers at MaxNutri Inc.are trying to come up with a new and attractive packaging design for its cookies.In this scenario,MaxNutri Inc.is working on its _____.

According to the Boston Consulting Group's (BCG's)portfolio matrix,a dog shows rapid growth but poor profit margins.

Which of the following activities is carried out during implementation of a marketing plan?

Individuals in the age group of 11 to 16 years who extensively use the internet is an example of a market segment.

Unlike a sustainable competitive advantage,a cost competitive advantage:

An Overview of Marketing

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Marketing Research

Product Concepts

Developing and Managing Products

Services and Nonprofit Organization Marketing

Supply Chain Management and Marketing Channels

Retailing

Marketing Communications

Advertising, Public Relations and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Pricing Concepts

Filters