Question 1

Utility created when a firm converts raw materials into finished products that are desired by the market is called ________ utility.

Accepted Answer

A)  time 
B)  form 
C)  place 
D)  ownership 
E)  price 
A)  time 
B)  form 
C)  place 
D)  ownership 
E)  price

Question 2

Which of the following are often described in terms of a separate plan for a worst-case, best-case, and expected-case performance against the forecast?

Accepted Answer

A)  action plans 
B)  operational plans 
C)  functional-level plans 
D)  contingency plans 
E)  strategic plans 
A)  action plans 
B)  operational plans 
C)  functional-level plans 
D)  contingency plans 
E)  strategic plans

Question 3

In a marketing plan, every strategy must include an implementation element. These are sometimes called ________.

Accepted Answer

A)  strategic plans 
B)  marketing metrics 
C)  value propositions 
D)  action plans 
E)  marketing channels 
A)  strategic plans 
B)  marketing metrics 
C)  value propositions 
D)  action plans 
E)  marketing channels

Question 4

Today many retailers create apps that customers can download to their smartphones or tablets to be up-to-date on the company's offerings. In the context of situation analysis, which of the following macro-level external environmental factors does this exemplify?

Accepted Answer

A)  Economic factors 
B)  Natural factors 
C)  Technological factors 
D)  Political, legal, ethical factors 
E)  Sociocultural/demographic factors 
A)  Economic factors 
B)  Natural factors 
C)  Technological factors 
D)  Political, legal, ethical factors 
E)  Sociocultural/demographic factors

Question 5

Explain the Boston Consulting Group Growth-Share Matrix. What are the strengths and weaknesses of this method? Give examples of each of the four cells and their strategy recommendations.

Accepted Answer

The concept of the BCG approach to portf

Question 6

Goals and objectives should be set ________.

Accepted Answer

A)  at the beginning of marketing planning 
B)  at the end of the situation analysis 
C)  after marketing strategies are fixed 
D)  after completion of market research, situation analysis, and competitor analysis 
E)  during SWOT analysis while identifying external opportunities and threats 
A)  at the beginning of marketing planning 
B)  at the end of the situation analysis 
C)  after marketing strategies are fixed 
D)  after completion of market research, situation analysis, and competitor analysis 
E)  during SWOT analysis while identifying external opportunities and threats

Question 7

Goals are broad statements of generally desired accomplishments in support of the firm's mission statement.

Accepted Answer

A) True 
 B)False

Question 8

Growth, stability, and retrenchment refer to a firm's position relating to its ________ strategy.

Accepted Answer

A)  specific 
B)  generic 
C)  future 
D)  diversification 
E)  differentiation 
A)  specific 
B)  generic 
C)  future 
D)  diversification 
E)  differentiation

Question 9

A SWOT analysis of a firm is least likely to ________.

Accepted Answer

A)  reveal weaknesses 
B)  look at internal strengths 
C)  include external analysis 
D)  identify potential opportunities and threats 
E)  suggest solutions to problems 
A)  reveal weaknesses 
B)  look at internal strengths 
C)  include external analysis 
D)  identify potential opportunities and threats 
E)  suggest solutions to problems

Question 10

The activities a firm does better than its competitors are known as ________.

Accepted Answer

A)  core competencies 
B)  strategic alignment 
C)  distinctive competencies 
D)  growth indicators 
E)  competitive indicators 
A)  core competencies 
B)  strategic alignment 
C)  distinctive competencies 
D)  growth indicators 
E)  competitive indicators

Question 11

Which of the following is NOT included in the business position factors of the GE Business Screen?

Accepted Answer

A)  organization 
B)  growth 
C)  patents 
D)  governmental regulations 
E)  marketing 
A)  organization 
B)  growth 
C)  patents 
D)  governmental regulations 
E)  marketing

Utility created when a firm converts raw materials into finished products that are desired by the market is called ________ utility.

Which of the following are often described in terms of a separate plan for a worst-case, best-case, and expected-case performance against the forecast?

In a marketing plan, every strategy must include an implementation element. These are sometimes called ________.

Today many retailers create apps that customers can download to their smartphones or tablets to be up-to-date on the company's offerings. In the context of situation analysis, which of the following macro-level external environmental factors does this exemplify?

Explain the Boston Consulting Group Growth-Share Matrix. What are the strengths and weaknesses of this method? Give examples of each of the four cells and their strategy recommendations.

Goals and objectives should be set ________.

Goals are broad statements of generally desired accomplishments in support of the firm's mission statement.

Growth, stability, and retrenchment refer to a firm's position relating to its ________ strategy.

A SWOT analysis of a firm is least likely to ________.

The activities a firm does better than its competitors are known as ________.

Which of the following is NOT included in the business position factors of the GE Business Screen?

Marketing in Today's Business Milieu

Marketing Foundations: Global, Ethical, Sustainable

Market Research Essentials

CRM, Big Data, and Marketing Analytics

Understand Consumer and Business Markets

Segmentation, Target Marketing, and Positioning

Product Strategy and New Product Development

Build the Brand

Service as the Core Offering

Manage Pricing Decisions

Manage Marketing Channels, Logistics, and Supply Chain

Promotion Essentials: Digital and Social Media Marketing

Promotion Essentials: Legacy Approaches

Filters

Exam 3: Elements of Marketing Strategy, Planning, and Competition

Utility created when a firm converts raw materials into finished products that are desired by the market is called ________ utility.

Which of the following are often described in terms of a separate plan for a worst-case, best-case, and expected-case performance against the forecast?

In a marketing plan, every strategy must include an implementation element. These are sometimes called ________.

Today many retailers create apps that customers can download to their smartphones or tablets to be up-to-date on the company's offerings. In the context of situation analysis, which of the following macro-level external environmental factors does this exemplify?

Explain the Boston Consulting Group Growth-Share Matrix. What are the strengths and weaknesses of this method? Give examples of each of the four cells and their strategy recommendations.

Goals and objectives should be set ________.

Goals are broad statements of generally desired accomplishments in support of the firm's mission statement.

Growth, stability, and retrenchment refer to a firm's position relating to its ________ strategy.

A SWOT analysis of a firm is least likely to ________.

The activities a firm does better than its competitors are known as ________.

Which of the following is NOT included in the business position factors of the GE Business Screen?

Marketing in Today's Business Milieu

Marketing Foundations: Global, Ethical, Sustainable

Market Research Essentials

CRM, Big Data, and Marketing Analytics

Understand Consumer and Business Markets

Segmentation, Target Marketing, and Positioning

Product Strategy and New Product Development

Build the Brand

Service as the Core Offering

Manage Pricing Decisions

Manage Marketing Channels, Logistics, and Supply Chain

Promotion Essentials: Digital and Social Media Marketing

Promotion Essentials: Legacy Approaches

Filters