Question 1

Mission statements are at their best when they are guided by a

Accepted Answer

A)  market. 
B)  vision. 
C)  value. 
D)  strength. 
E)  competency. 
A)  market. 
B)  vision. 
C)  value. 
D)  strength. 
E)  competency.

Question 2

Such areas as sales forecasts, expense forecasts, and break even analysis are usually found in the financial projections section of the marketing plan.

Accepted Answer

A) True 
 B)False

Question 3

We can say that a ________ has three characteristics: (1) It is a source of competitive advantage in that it makes a significant contribution to perceived customer benefits, (2) it has applications in a wide variety of markets, and (3) it is difficult for competitors to imitate.

Accepted Answer

A)  core technology 
B)  winning strategy 
C)  strategic business unit 
D)  business strategy 
E)  core competency 
A)  core technology 
B)  winning strategy 
C)  strategic business unit 
D)  business strategy 
E)  core competency

Question 4

For an MBO (management by objectives) system to work, one of the four criteria that the unit's objectives must meet is that objectives must be stated quantitatively whenever possible.

Accepted Answer

A) True 
 B)False

Question 5

Another name for a company's value delivery network is "the intermediary team."

Accepted Answer

A) True 
 B)False

Question 6

The most frequently cited shortcomings of current marketing plans, according to marketing executives, are lack of realism, insufficient competitive analysis, and a ________ focus.

Accepted Answer

A)  profit 
B)  long-term 
C)  price 
D)  short-run 
E)  product 
A)  profit 
B)  long-term 
C)  price 
D)  short-run 
E)  product

Question 7

When a manager reaches the marketing strategy section of a marketing plan, he or she will define the mission and marketing and financial objectives.

Accepted Answer

A) True 
 B)False

Question 8

In applying MBO (management by objectives) all objectives are treated as being equally important.

Accepted Answer

A) True 
 B)False

Question 9

The task of any business is to deliver ________ at a profit.

Accepted Answer

A)  customer needs 
B)  products 
C)  improved quality 
D)  customer value 
E)  products and services 
A)  customer needs 
B)  products 
C)  improved quality 
D)  customer value 
E)  products and services

Question 10

Explain how the value chain is used as a tool by a marketer such as Canadian Tire.

Accepted Answer

A value chain is a tool for identifying

Question 11

A core competency is usually common among competitors in a given industry.

Accepted Answer

A) True 
 B)False

Question 12

The ________ in the value chain cover these activities: marketing (marketing and sales), and service.

Accepted Answer

A)  operations processes 
B)  manufacturing processes 
C)  secondary activities 
D)  tertiary activities 
E)  primary activities 
A)  operations processes 
B)  manufacturing processes 
C)  secondary activities 
D)  tertiary activities 
E)  primary activities

Question 13

A(n) ________ is when a company might seek new businesses that have no relationship to its current technology, products, or markets.

Accepted Answer

A)  concentric strategy 
B)  intensive growth strategy 
C)  integrative strategy 
D)  conglomerate strategy 
E)  horizontal strategy 
A)  concentric strategy 
B)  intensive growth strategy 
C)  integrative strategy 
D)  conglomerate strategy 
E)  horizontal strategy

Question 14

Which of the following most closely matches a correct market definition of a business?

Accepted Answer

A)  Imperial Oil. we sell gasoline. 
B)  Alliance Atlantis. we make movies. 
C)  Xerox. we make copying equipment. 
D)  Canadian National Railroad. we run a railroad. 
E)  Encyclopedia Britannica. we distribute information. 
A)  Imperial Oil. we sell gasoline. 
B)  Alliance Atlantis. we make movies. 
C)  Xerox. we make copying equipment. 
D)  Canadian National Railroad. we run a railroad. 
E)  Encyclopedia Britannica. we distribute information.

Question 15

Gerta Schulz is seen as a ________ planner because she plans the daily promotional releases about her company's products and services.

Accepted Answer

A)  organizational 
B)  selective 
C)  strategic 
D)  niche 
E)  tactical 
A)  organizational 
B)  selective 
C)  strategic 
D)  niche 
E)  tactical

Question 16

The first step in the business unit strategic-planning process deals with which of the following?

Accepted Answer

A)  goal formulation 
B)  program formulation 
C)  SWOT analysis 
D)  strategy formulation 
E)  business mission 
A)  goal formulation 
B)  program formulation 
C)  SWOT analysis 
D)  strategy formulation 
E)  business mission

Question 17

Master marketers focus on the customer and are organized to respond effectively to changing customer needs.

Accepted Answer

A) True 
 B)False

Question 18

The ________ is the central instrument for directing and coordinating the marketing effort.

Accepted Answer

A)  tactical plan 
B)  corporate mission 
C)  strategic plan 
D)  marketing plan 
E)  customer value statement 
A)  tactical plan 
B)  corporate mission 
C)  strategic plan 
D)  marketing plan 
E)  customer value statement

Question 19

The ________ is a tool for identifying ways to create more customer value.

Accepted Answer

A)  promotion channel 
B)  value chain 
C)  brand loyalty index 
D)  supplier database 
E)  customer survey 
A)  promotion channel 
B)  value chain 
C)  brand loyalty index 
D)  supplier database 
E)  customer survey

Question 20

Holistic marketing focuses on the integration of value exploration, value creation, and value delivery as a means to build long-term relationships with consumers.

Accepted Answer

A) True 
 B)False

Exam 2: Developing Marketing Strategies and Plans

Mission statements are at their best when they are guided by a

Such areas as sales forecasts, expense forecasts, and break even analysis are usually found in the financial projections section of the marketing plan.

We can say that a ________ has three characteristics: (1) It is a source of competitive advantage in that it makes a significant contribution to perceived customer benefits, (2) it has applications in a wide variety of markets, and (3) it is difficult for competitors to imitate.

For an MBO (management by objectives) system to work, one of the four criteria that the unit's objectives must meet is that objectives must be stated quantitatively whenever possible.

Another name for a company's value delivery network is "the intermediary team."

The most frequently cited shortcomings of current marketing plans, according to marketing executives, are lack of realism, insufficient competitive analysis, and a ________ focus.

When a manager reaches the marketing strategy section of a marketing plan, he or she will define the mission and marketing and financial objectives.

In applying MBO (management by objectives) all objectives are treated as being equally important.

The task of any business is to deliver ________ at a profit.

Explain how the value chain is used as a tool by a marketer such as Canadian Tire.

A core competency is usually common among competitors in a given industry.

The ________ in the value chain cover these activities: marketing (marketing and sales), and service.

A(n) ________ is when a company might seek new businesses that have no relationship to its current technology, products, or markets.

Which of the following most closely matches a correct market definition of a business?

Gerta Schulz is seen as a ________ planner because she plans the daily promotional releases about her company's products and services.

The first step in the business unit strategic-planning process deals with which of the following?

Master marketers focus on the customer and are organized to respond effectively to changing customer needs.

The ________ is the central instrument for directing and coordinating the marketing effort.

The ________ is a tool for identifying ways to create more customer value.

Holistic marketing focuses on the integration of value exploration, value creation, and value delivery as a means to build long-term relationships with consumers.

Defining Marketing for the 21st Century

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Position

Competitive Dynamics

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Introducing New Marketing Offerings

Tapping into Global Markets

Managing a Holistic Marketing Organization

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