Question 1

Which of the following can be considered a primary activity in the value chain process?

Accepted Answer

A)  procurement 
B)  inbound logistics 
C)  human resource management 
D)  technology development 
E)  firm infrastructure 
A)  procurement 
B)  inbound logistics 
C)  human resource management 
D)  technology development 
E)  firm infrastructure

Question 2

What questions would typically be asked during a market opportunity analysis (MOA)?

Accepted Answer

Questions would typically be:(1)Can the

Question 3

Which of the following is NOT one of the four planning activities undertaken by all corporate headquarters?

Accepted Answer

A)  defining the corporate mission 
B)  establishing strategic business units 
C)  assigning resources to each SBU 
D)  assessing growth opportunities 
E)  deciding sales channels 
A)  defining the corporate mission 
B)  establishing strategic business units 
C)  assigning resources to each SBU 
D)  assessing growth opportunities 
E)  deciding sales channels

Question 4

Michael Porter's value chain would identify which of the following as a support activity?

Accepted Answer

A)  shipping out final products 
B)  marketing products 
C)  servicing products 
D)  procurement 
E)  operations 
A)  shipping out final products 
B)  marketing products 
C)  servicing products 
D)  procurement 
E)  operations

Question 5

An environmental threat is a challenge posed by an unfavourable trend or development that would lead, in the absence of defensive marketing action, to lower sales or profit.

Accepted Answer

A) True 
 B)False

Question 6

A strategy is a game plan for achieving what the business unit wants to achieve.

Accepted Answer

A) True 
 B)False

Question 7

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

Accepted Answer

A) True 
 B)False

Question 8

Tim Hortons has become a major Canadian cultural icon and business success due to a well-planned and carefully executed marketing strategy. In its annual planning process, once Tim Hortons establishes its business mission, conducts a SWOT analysis, and goes through a goal formulation process, it is ready to go through a step called ________ to continue with a strategic-planning process.

Accepted Answer

A)  implementation 
B)  functional analysis 
C)  program formulation 
D)  strategy formulation 
E)  feedback and control 
A)  implementation 
B)  functional analysis 
C)  program formulation 
D)  strategy formulation 
E)  feedback and control

Question 9

If you wanted to find out more about target markets and the organization's value proposition, which of the following types of plans would most likely contain information that might be useful to you in your quest?

Accepted Answer

A)  strategic marketing plan 
B)  organizational plan 
C)  marketing mix plan 
D)  marketing plan 
E)  tactical marketing plan 
A)  strategic marketing plan 
B)  organizational plan 
C)  marketing mix plan 
D)  marketing plan 
E)  tactical marketing plan

Question 10

The marketing team at Alliance Atlantis has been asked to perform an MOA. What questions should they ask as part of this market opportunity analysis?

Accepted Answer

Questions would typically be:(1)Can the

Question 11

Apex Corporation is known in its industry being "best of class" in terms of costs and performance. Your firm could probably use Apex Corporation as a

Accepted Answer

A)  benchmark. 
B)  target. 
C)  competitor to beat. 
D)  sounding board for ideas. 
E)  future supplier. 
A)  benchmark. 
B)  target. 
C)  competitor to beat. 
D)  sounding board for ideas. 
E)  future supplier.

Question 12

Explain the differences between the following terms: marketing plan, strategic marketing plan, and tactical marketing plan.

Accepted Answer

The marketing plan is the central instru

Question 13

Gary Hamel confirms the view that imaginative ideas on strategy exist mainly within senior management.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is an example of a value-creation skill?

Accepted Answer

A)  handling complex relationships with trading partners 
B)  broadening the scope of the business 
C)  choosing partners for their ability to exploit related market opportunities 
D)  substantial investment in infrastructure and capabilities 
E)  identifying new customer benefits from the customer's view 
A)  handling complex relationships with trading partners 
B)  broadening the scope of the business 
C)  choosing partners for their ability to exploit related market opportunities 
D)  substantial investment in infrastructure and capabilities 
E)  identifying new customer benefits from the customer's view

Question 15

The ________ identifies nine strategically relevant activities that create value and cost in a specific business.

Accepted Answer

A)  manager's log 
B)  value proposition 
C)  value chain 
D)  annual report 
E)  mission statement 
A)  manager's log 
B)  value proposition 
C)  value chain 
D)  annual report 
E)  mission statement

Question 16

According to McKinsey & Company, strategy is only one of seven elements in successful business practice. The first three elements are considered the "hardware" of success, and include

Accepted Answer

A)  skills. 
B)  systems. 
C)  shared values. 
D)  staff. 
E)  style. 
A)  skills. 
B)  systems. 
C)  shared values. 
D)  staff. 
E)  style.

Question 17

Naturalizer Shoes wishes to reposition their shoes to a younger audience. During which stage of the marketing plan will their marketing manager establish the product line's positioning?

Accepted Answer

The stage where product line positioning

Question 18

To keep their strategic alliances thriving, corporations have begun to develop organizational structures to support them and have come to view the ability to form and manage partnerships as core skills. This is called

Accepted Answer

A)  synergistic partnership. 
B)  win-win relationship management. 
C)  value managed partnership. 
D)  partner relationship management. 
E)  centralized partnership. 
A)  synergistic partnership. 
B)  win-win relationship management. 
C)  value managed partnership. 
D)  partner relationship management. 
E)  centralized partnership.

Question 19

The holistic marketing framework is designed to address three key management questions: value ______, value creation, and value delivery.

Accepted Answer

A)  proposition 
B)  chain 
C)  exploration 
D)  segmentation 
E)  network 
A)  proposition 
B)  chain 
C)  exploration 
D)  segmentation 
E)  network

Question 20

In which of the following plans would we most likely find directions for implementing and addressing daily challenges and opportunities in product features, promotion, merchandising, pricing, sales channels, and service areas?

Accepted Answer

A)  target marketing plan 
B)  product launch plan 
C)  deployment plan 
D)  product development plan 
E)  tactical marketing plan 
A)  target marketing plan 
B)  product launch plan 
C)  deployment plan 
D)  product development plan 
E)  tactical marketing plan

Exam 2: Developing Marketing Strategies and Plans

Which of the following can be considered a primary activity in the value chain process?

What questions would typically be asked during a market opportunity analysis (MOA)?

Which of the following is NOT one of the four planning activities undertaken by all corporate headquarters?

Michael Porter's value chain would identify which of the following as a support activity?

An environmental threat is a challenge posed by an unfavourable trend or development that would lead, in the absence of defensive marketing action, to lower sales or profit.

A strategy is a game plan for achieving what the business unit wants to achieve.

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

If you wanted to find out more about target markets and the organization's value proposition, which of the following types of plans would most likely contain information that might be useful to you in your quest?

The marketing team at Alliance Atlantis has been asked to perform an MOA. What questions should they ask as part of this market opportunity analysis?

Apex Corporation is known in its industry being "best of class" in terms of costs and performance. Your firm could probably use Apex Corporation as a

Explain the differences between the following terms: marketing plan, strategic marketing plan, and tactical marketing plan.

Gary Hamel confirms the view that imaginative ideas on strategy exist mainly within senior management.

Which of the following is an example of a value-creation skill?

The ________ identifies nine strategically relevant activities that create value and cost in a specific business.

According to McKinsey & Company, strategy is only one of seven elements in successful business practice. The first three elements are considered the "hardware" of success, and include

Naturalizer Shoes wishes to reposition their shoes to a younger audience. During which stage of the marketing plan will their marketing manager establish the product line's positioning?

To keep their strategic alliances thriving, corporations have begun to develop organizational structures to support them and have come to view the ability to form and manage partnerships as core skills. This is called

The holistic marketing framework is designed to address three key management questions: value ______, value creation, and value delivery.

In which of the following plans would we most likely find directions for implementing and addressing daily challenges and opportunities in product features, promotion, merchandising, pricing, sales channels, and service areas?

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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