Question 1

A group of 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 2

The distribution strategy in a marketing mix is concerned with:

Accepted Answer

A) transporting raw materials or finished products. 
B) educating customers about product benefits. 
C) providing after-purchase services to customers. 
D) public relations activities. 
A) transporting raw materials or finished products. 
B) educating customers about product benefits. 
C) providing after-purchase services to customers. 
D) public relations activities.

Question 3

In the context of SWOT analysis, which of the following can be considered a strength of an organization?

Accepted Answer

A) Imitable products and services 
B) A new unserved market 
C) A superior production technology 
D) Increased taxes on products 
A) Imitable products and services 
B) A new unserved market 
C) A superior production technology 
D) Increased taxes on products

Question 4

In the context of the Boston Consulting Group's (BCG's) portfolio matrix, which of the following is true of question marks?

Accepted Answer

A) It operates in a high-growth industry with a low market share. 
B) It generates more cash than it needs to maintain its market share. 
C) It has low growth potential and a small market share. 
D) It does not require any cash to maintain its market. 
A) It operates in a high-growth industry with a low market share. 
B) It generates more cash than it needs to maintain its market share. 
C) It has low growth potential and a small market share. 
D) It does not require any cash to maintain its market.

Question 5

In the context of SWOT analysis, marketers can identify strengths and weaknesses by focusing on:

Accepted Answer

A) employee capabilities. 
B) the aspects of the marketing environment. 
C) demographic forces. 
D) macroenvironmental factors. 
A) employee capabilities. 
B) the aspects of the marketing environment. 
C) demographic forces. 
D) macroenvironmental factors.

Question 6

Explain the characteristics of strategic business units (SBUs).

Accepted Answer

Answers will vary. Large companies may m

Question 7

_____ 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 8

Addoso Inc. manufactures electronic gadgets. The marketing managers at Addoso Inc. have discovered that a new competitor is gaining more customers. In the context of SWOT analysis, which of the following actions should be prioritized by the marketing managers at Addoso Inc.?

Accepted Answer

A) They must analyze aspects of its marketing environment. 
B) They must focus on organizational resources. 
C) They should ignore macroenvironmental forces. 
D) They should focus on lowering product prices. 
A) They must analyze aspects of its marketing environment. 
B) They must focus on organizational resources. 
C) They should ignore macroenvironmental forces. 
D) They should focus on lowering product prices.

Question 9

List the three types of competitive advantages and define them.

Accepted Answer

Answers will vary. There are three types

Question 10

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

Accepted Answer

A) Implementation 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) Implementation 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 11

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 12

Which of the following statements is true of a marketing plan?

Accepted Answer

A) It is a set of orally communicated rules and is seldom written down. 
B) It is developed independently of the external business environment. 
C) It defines the business mission and objectives. 
D) It lacks the elements of advanced strategic planning. 
A) It is a set of orally communicated rules and is seldom written down. 
B) It is developed independently of the external business environment. 
C) It defines the business mission and objectives. 
D) It lacks the elements of advanced strategic planning.

Question 13

In the context of a 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 14

Compare product strategies and pricing strategies in the context of the marketing mix.

Accepted Answer

Answers will vary. Of the four Ps, the m

Question 15

Which of the following statements is true of effective strategic planning?

Accepted Answer

A) Subordinates must persuade the management to accept their demands. 
B) Managers should challenge assumptions about the firm and the environment. 
C) Sound strategic planning is based on trial and error method of effective execution. 
D) Companies should refrain from establishing new strategies to improve productivity. 
A) Subordinates must persuade the management to accept their demands. 
B) Managers should challenge assumptions about the firm and the environment. 
C) Sound strategic planning is based on trial and error method of effective execution. 
D) Companies should refrain from establishing new strategies to improve productivity.

Question 16

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 17

Remvault Dairies witnessed a steady decline in the sales of its products due to increased competition in the local market. Remvault Dairies plans to adopt the market development strategy. In this scenario, which of the following is the best step the company should take in an attempt to rejuvenate its financial losses?

Accepted Answer

A) Introduce new products into new markets. 
B) Create new products for its present markets. 
C) Attract existing customers rather than new customers. 
D) Focus on promoting new uses for old products. 
A) Introduce new products into new markets. 
B) Create new products for its present markets. 
C) Attract existing customers rather than new customers. 
D) Focus on promoting new uses for old products.

Question 18

The product in a marketing mix includes:

Accepted Answer

A) the point of purchase. 
B) the company image. 
C) personal selling. 
D) sales promotion. 
A) the point of purchase. 
B) the company image. 
C) personal selling. 
D) sales promotion.

Question 19

A business mission does not affect a firm's long-run resource allocation, profitability, and survival.

Accepted Answer

A) True 
 B)False

Question 20

A company can gain a cost competitive advantage by:

Accepted Answer

A) reorganizing functional departments into cross-disciplinary teams. 
B) manufacturing highly customized products. 
C) providing extra options on products or services. 
D) manufacturing products using high-cost production techniques. 
A) reorganizing functional departments into cross-disciplinary teams. 
B) manufacturing highly customized products. 
C) providing extra options on products or services. 
D) manufacturing products using high-cost production techniques.

A group of individuals in the age group of 11 to 16 years who extensively use the Internet is an example of a market segment.

The distribution strategy in a marketing mix is concerned with:

In the context of SWOT analysis, which of the following can be considered a strength of an organization?

In the context of the Boston Consulting Group's (BCG's) portfolio matrix, which of the following is true of question marks?

In the context of SWOT analysis, marketers can identify strengths and weaknesses by focusing on:

Explain the characteristics of strategic business units (SBUs).

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

Addoso Inc. manufactures electronic gadgets. The marketing managers at Addoso Inc. have discovered that a new competitor is gaining more customers. In the context of SWOT analysis, which of the following actions should be prioritized by the marketing managers at Addoso Inc.?

List the three types of competitive advantages and define them.

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

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

Which of the following statements is true of a marketing plan?

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

Compare product strategies and pricing strategies in the context of the marketing mix.

Which of the following statements is true of effective strategic planning?

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

The product in a marketing mix includes:

A business mission does not affect a firm's long-run resource allocation, profitability, and survival.

A company can gain a cost competitive advantage by:

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

A group of individuals in the age group of 11 to 16 years who extensively use the Internet is an example of a market segment.

The distribution strategy in a marketing mix is concerned with:

In the context of SWOT analysis, which of the following can be considered a strength of an organization?

In the context of the Boston Consulting Group's (BCG's) portfolio matrix, which of the following is true of question marks?

In the context of SWOT analysis, marketers can identify strengths and weaknesses by focusing on:

Explain the characteristics of strategic business units (SBUs).

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

Addoso Inc. manufactures electronic gadgets. The marketing managers at Addoso Inc. have discovered that a new competitor is gaining more customers. In the context of SWOT analysis, which of the following actions should be prioritized by the marketing managers at Addoso Inc.?

List the three types of competitive advantages and define them.

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

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

Which of the following statements is true of a marketing plan?

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

Compare product strategies and pricing strategies in the context of the marketing mix.

Which of the following statements is true of effective strategic planning?

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

The product in a marketing mix includes:

A business mission does not affect a firm's long-run resource allocation, profitability, and survival.

A company can gain a cost competitive advantage by:

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