Question 1

Discuss the process of implementing a marketing plan.

Accepted Answer

Answers will vary.Implementation is the

Question 2

Unlike a cost competitive advantage,a competitive advantage based on product/service differentiation:

Accepted Answer

A) ​tends to be more attractive to top managers because of its durability. 
B) provides a shorter-lasting competitive advantage. 
C) focuses primarily on offering a low-priced product or service than that of competitors. 
D) ​lowers costs by removing frills and options from a product or service. 
A) ​tends to be more attractive to top managers because of its durability. 
B) provides a shorter-lasting competitive advantage. 
C) focuses primarily on offering a low-priced product or service than that of competitors. 
D) ​lowers costs by removing frills and options from a product or service.

Question 3

The marketers at Gemini Inc.have prepared a marketing plan for the company's air conditioners.The managers at Gemini have outlined several activities for their subordinates based on this marketing plan.The employees are required to finish these activities within a month.The managers have also allocated a budget for each activity.In the context of marketing planning,which of the following concepts is illustrated in the scenario?

Accepted Answer

A) ​Divestment 
B) Implementation 
C) Diversification 
D) ​Vertical integration 
A) ​Divestment 
B) Implementation 
C) Diversification 
D) ​Vertical integration

Question 4

According to the Boston Consulting Group's (BCG's)portfolio matrix,a star is a fast-growing market leader.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is a distinct feature of a product/service differentiation competitive advantage?

Accepted Answer

A) ​Using government subsidies 
B) Controlling overhead costs 
C) Establishing a brand name 
D) ​Obtaining inexpensive raw materials 
A) ​Using government subsidies 
B) Controlling overhead costs 
C) Establishing a brand name 
D) ​Obtaining inexpensive raw materials

Question 6

A company sells paper stationery made of recycled materials that no other paper manufacturing company in the market has the ability produce.This company has a competitive advantage.

Accepted Answer

A) True 
 B)False

Question 7

Environmental scanning refers to the process of collecting and interpreting information about forces,events,and relationships in the external environment that may affect the future of the organization or the implementation of the marketing plan.

Accepted Answer

A) True 
 B)False

Question 8

According to Ansoff's strategic opportunity matrix,which of the following factors is associated with market development?

Accepted Answer

A) ​ Limiting the production of products 
B) Increasing the prices of products 
C)  Adding new uses to products 
D) ​ Limiting resources used for promotion 
A) ​ Limiting the production of products 
B) Increasing the prices of products 
C)  Adding new uses to products 
D) ​ Limiting resources used for promotion

Question 9

Apcon Mobiles Inc.is a popular cell phone manufacturing company.To acquire new customers,it decides to launch its own sim cards in new markets.According to Ansoff's strategic opportunity matrix,which of the following is true of Apcon Mobiles Inc.?

Accepted Answer

A) ​Apcon Mobiles Inc.'s entry into unfamiliar markets is likely to be risky. 
B) Apcon Mobiles Inc. follows a product development strategy. 
C) Apcon Mobiles Inc.'s strategy can be implemented by using customer databases. 
D) ​Apcon Mobiles Inc.'s entry into a market with high competition is likely to be successful. 
A) ​Apcon Mobiles Inc.'s entry into unfamiliar markets is likely to be risky. 
B) Apcon Mobiles Inc. follows a product development strategy. 
C) Apcon Mobiles Inc.'s strategy can be implemented by using customer databases. 
D) ​Apcon Mobiles Inc.'s entry into a market with high competition is likely to be successful.

Question 10

Freulia Inc.manufactures and sells stationery and office supplies.The firm loses its competitive advantage with the entry of new competitors.In this case,in order to gain a sustainable competitive advantage,Freulia Inc.should:

Accepted Answer

A) ​imitate the products of its competitors. 
B) depend on government subsidies. 
C) build its own competitive advantages. 
D) ​aim at being the low-cost competitor in the industry. 
A) ​imitate the products of its competitors. 
B) depend on government subsidies. 
C) build its own competitive advantages. 
D) ​aim at being the low-cost competitor in the industry.

Question 11

Explain SWOT analysis.

Accepted Answer

Answers will vary.Marketers must underst

Question 12

In the context of the Boston Consulting Group's (BCG's)portfolio matrix,which of the following is a similarity between stars and cash cows?

Accepted Answer

A) ​Both have rapid growth potential but poor profit margins. 
B) Both have a low growth potential. 
C) Both have a high market share in their respective markets. 
D) ​Both have a low market share in their respective markets. 
A) ​Both have rapid growth potential but poor profit margins. 
B) Both have a low growth potential. 
C) Both have a high market share in their respective markets. 
D) ​Both have a low market share in their respective markets.

Question 13

Discuss the general strategies for selecting target markets.

Accepted Answer

Answers will vary.Target markets can be

Question 14

_____ multiplied by the number of units sold equals total revenue for a firm.

Accepted Answer

A) ​Discount 
B) Price 
C) Overhead cost 
D) ​Profit margin 
A) ​Discount 
B) Price 
C) Overhead cost 
D) ​Profit margin

Question 15

Describe the nature of strategic planning.

Accepted Answer

Answers will vary.Strategic planning is

Question 16

Which of the following strategies can help companies make strategic planning effective?

Accepted Answer

A) ​Excluding top management from the strategic planning process 
B) Making strategic planning an ongoing process rather than an annual exercise 
C) Eliminating managerial intuitions 
D) ​Avoiding cross-functional teams 
A) ​Excluding top management from the strategic planning process 
B) Making strategic planning an ongoing process rather than an annual exercise 
C) Eliminating managerial intuitions 
D) ​Avoiding cross-functional teams

Question 17

In the context of the marketing mix,the product includes:

Accepted Answer

A) ​the name of the brand. 
B) the point of purchase. 
C) the elements of advanced strategic planning. 
D) ​personal selling. 
A) ​the name of the brand. 
B) the point of purchase. 
C) the elements of advanced strategic planning. 
D) ​personal selling.

Question 18

Marketers at Libra Electronics Inc.are developing promotional strategies to increase product sales.They want to promote the company's products among the public.In this case,which of the following is an effective promotional strategy that the marketers can follow to improve product/brand awareness among the public?

Accepted Answer

A) ​They can limit the products' availability to a few retail stores in the city. 
B) They can raise the prices of the products to signify quality. 
C) They can reduce frills or options from the products. 
D) ​They can print pamphlets that elaborate the products' features. 
A) ​They can limit the products' availability to a few retail stores in the city. 
B) They can raise the prices of the products to signify quality. 
C) They can reduce frills or options from the products. 
D) ​They can print pamphlets that elaborate the products' features.

Question 19

Which of the following statements is true about a niche strategy?

Accepted Answer

A) ​Only large companies can implement a niche strategy. 
B) Companies that adopt a niche strategy have only a small number of customers. 
C) Only the companies that do not have competitors can adopt a niche strategy. 
D) ​Companies that adopt a niche strategy can only gain a price advantage over competitors. 
A) ​Only large companies can implement a niche strategy. 
B) Companies that adopt a niche strategy have only a small number of customers. 
C) Only the companies that do not have competitors can adopt a niche strategy. 
D) ​Companies that adopt a niche strategy can only gain a price advantage over competitors.

Question 20

Nile Inc.is one of the leading shoe manufacturing companies in Baltonia.It manufactures canvas shoes that are quite similar to those produced by other brands.The management of the company has decided to adopt a product/service differentiation competitive strategy.In this scenario,Nile Inc.should:

Accepted Answer

A) ​offer its products at the lowest rates in the market. 
B) produce aerobic, tennis, and baseball shoes that have specialized features. 
C) advertise their products through more media outlets than it previously did. 
D) ​sell products to markets outside Baltonia. 
A) ​offer its products at the lowest rates in the market. 
B) produce aerobic, tennis, and baseball shoes that have specialized features. 
C) advertise their products through more media outlets than it previously did. 
D) ​sell products to markets outside Baltonia.

Discuss the process of implementing a marketing plan.

Unlike a cost competitive advantage,a competitive advantage based on product/service differentiation:

According to the Boston Consulting Group's (BCG's)portfolio matrix,a star is a fast-growing market leader.

Which of the following is a distinct feature of a product/service differentiation competitive advantage?

A company sells paper stationery made of recycled materials that no other paper manufacturing company in the market has the ability produce.This company has a competitive advantage.

Environmental scanning refers to the process of collecting and interpreting information about forces,events,and relationships in the external environment that may affect the future of the organization or the implementation of the marketing plan.

According to Ansoff's strategic opportunity matrix,which of the following factors is associated with market development?

Apcon Mobiles Inc.is a popular cell phone manufacturing company.To acquire new customers,it decides to launch its own sim cards in new markets.According to Ansoff's strategic opportunity matrix,which of the following is true of Apcon Mobiles Inc.?

Freulia Inc.manufactures and sells stationery and office supplies.The firm loses its competitive advantage with the entry of new competitors.In this case,in order to gain a sustainable competitive advantage,Freulia Inc.should:

Explain SWOT analysis.

In the context of the Boston Consulting Group's (BCG's)portfolio matrix,which of the following is a similarity between stars and cash cows?

Discuss the general strategies for selecting target markets.

_____ multiplied by the number of units sold equals total revenue for a firm.

Describe the nature of strategic planning.

Which of the following strategies can help companies make strategic planning effective?

In the context of the marketing mix,the product includes:

Which of the following statements is true about a niche strategy?

Nile Inc.is one of the leading shoe manufacturing companies in Baltonia.It manufactures canvas shoes that are quite similar to those produced by other brands.The management of the company has decided to adopt a product/service differentiation competitive strategy.In this scenario,Nile Inc.should:

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

Discuss the process of implementing a marketing plan.

Unlike a cost competitive advantage,a competitive advantage based on product/service differentiation:

According to the Boston Consulting Group's (BCG's)portfolio matrix,a star is a fast-growing market leader.

Which of the following is a distinct feature of a product/service differentiation competitive advantage?

A company sells paper stationery made of recycled materials that no other paper manufacturing company in the market has the ability produce.This company has a competitive advantage.

Environmental scanning refers to the process of collecting and interpreting information about forces,events,and relationships in the external environment that may affect the future of the organization or the implementation of the marketing plan.

According to Ansoff's strategic opportunity matrix,which of the following factors is associated with market development?

Apcon Mobiles Inc.is a popular cell phone manufacturing company.To acquire new customers,it decides to launch its own sim cards in new markets.According to Ansoff's strategic opportunity matrix,which of the following is true of Apcon Mobiles Inc.?

Freulia Inc.manufactures and sells stationery and office supplies.The firm loses its competitive advantage with the entry of new competitors.In this case,in order to gain a sustainable competitive advantage,Freulia Inc.should:

Explain SWOT analysis.

In the context of the Boston Consulting Group's (BCG's)portfolio matrix,which of the following is a similarity between stars and cash cows?

Discuss the general strategies for selecting target markets.

_____ multiplied by the number of units sold equals total revenue for a firm.

Describe the nature of strategic planning.

Which of the following strategies can help companies make strategic planning effective?

In the context of the marketing mix,the product includes:

Which of the following statements is true about a niche strategy?

Nile Inc.is one of the leading shoe manufacturing companies in Baltonia.It manufactures canvas shoes that are quite similar to those produced by other brands.The management of the company has decided to adopt a product/service differentiation competitive strategy.In this scenario,Nile Inc.should:

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