Question 1

A _____ refers to any feature of an organization or brand perceived by customers to be desirable and different from those of the competition.

Accepted Answer

A)  cooperative edge 
B)  sales orientation 
C)  differential advantage 
D)  customer orientation 
E)  market orientation 
A)  cooperative edge 
B)  sales orientation 
C)  differential advantage 
D)  customer orientation 
E)  market orientation

Question 2

Strategic planning:

Accepted Answer

A)  usually covers 1 year or less. 
B)  is the responsibility of middle- and lower-level managers. 
C)  focuses on the compatibility of the marketing mix and its target markets. 
D)  should never involve the use of a planning staff. 
E)  is not described by any of the above. 
A)  usually covers 1 year or less. 
B)  is the responsibility of middle- and lower-level managers. 
C)  focuses on the compatibility of the marketing mix and its target markets. 
D)  should never involve the use of a planning staff. 
E)  is not described by any of the above.

Question 3

Which of the following is the BEST example of a customer-oriented mission statement?

Accepted Answer

A)  We clean swimming pools. 
B)  We take the bother out of swimming pool maintenance. 
C)  We fix lawn mowers. 
D)  Our goal is to make the best pizzas in the world. 
E)  Our goal is to make you a loan. 
A)  We clean swimming pools. 
B)  We take the bother out of swimming pool maintenance. 
C)  We fix lawn mowers. 
D)  Our goal is to make the best pizzas in the world. 
E)  Our goal is to make you a loan.

Question 4

The _____ for Starbucks is "to establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles as we grow."

Accepted Answer

A)  tactical plan 
B)  corporate motto 
C)  marketing campaign 
D)  mission statement 
E)  situational assessment 
A)  tactical plan 
B)  corporate motto 
C)  marketing campaign 
D)  mission statement 
E)  situational assessment

Question 5

A small regional publishing company publishes a newsletter targeted to all executives in the Dallas-Forth Worth area. Now it has introduced another newsletter targeted to female executives that has much the same content as its first publication. It is likely female subscribers to its executive newsletter will drop their subscription to the company's original newsletter and find the newer one more personally relevant. If this occurs, then _____ will have occurred.

Accepted Answer

A)  the piranha effect 
B)  cannibalization 
C)  the unforeseen consequences dilemma 
D)  the iceberg effect 
E)  market amortization 
A)  the piranha effect 
B)  cannibalization 
C)  the unforeseen consequences dilemma 
D)  the iceberg effect 
E)  market amortization

Question 6

Amer Group is the world's leading manufacturer of tennis racquets, golf clubs, and Alpine skis with its Wilson brand tennis racquets and golf clubs as well as its Atomic brand ski. It also produces and sells cigarettes in Finland where it has a 75 percent share of the market. (It is licensed by Phillip Morris to produce the Phillip Morris brands in Finland.) In addition Amer Group owns Precor, a leading supplier of fitness equipment to gyms, health clubs, and private customers in the United States. A healthy cash flow from its tobacco unit allowed the conglomerate to specialize in sporting equipment. In 2002, it decided to get out of the tobacco business because it did not fit with the image of a sporting equipment supplier.
-In terms of the BCG matrix, the cigarette division would have been an example of a:

Accepted Answer

A)  question mark. 
B)  star. 
C)  cash cow. 
D)  problem child. 
E)  dog. 
A)  question mark. 
B)  star. 
C)  cash cow. 
D)  problem child. 
E)  dog.

Question 7

The World Health Organization estimates that 30 percent of all buildings have a poor indoor air quality (IAQ). As a result of poor IAQ, employees are experiencing respiratory and allergic complaints called Sick Building Syndrome. The company Techno Hygenics was organized in Great Britain to correct poor IAQ. The people who started the firm recognized a(n):

Accepted Answer

A)  opportunity. 
B)  selling point. 
C)  threat. 
D)  strength. 
E)  strategic vision. 
A)  opportunity. 
B)  selling point. 
C)  threat. 
D)  strength. 
E)  strategic vision.

Question 8

The marketing manager for a new online magazine is in the midst of the _____ stage of the management process when he compares actual advertising revenue to predicted revenue.

Accepted Answer

A)  planning 
B)  motivation 
C)  evaluation 
D)  implementation 
E)  organization 
A)  planning 
B)  motivation 
C)  evaluation 
D)  implementation 
E)  organization

Question 9

The _____ for Head Start is to create special programs for children of poverty that will improve their opportunities and their ability to achieve while downplaying the pattern of failure they see in their day-to-day lives.

Accepted Answer

A)  strategic plan 
B)  corporate motto 
C)  marketing campaign 
D)  mission 
E)  situational assessment 
A)  strategic plan 
B)  corporate motto 
C)  marketing campaign 
D)  mission 
E)  situational assessment

Question 10

A situation analysis:

Accepted Answer

A)  normally includes an analysis of external environmental forces. 
B)  is a review of a company's existing marketing program. 
C)  helps management determine where the marketing program should go in the future. 
D)  reviews in detail the company's present marketing mix. 
E)  is accurately described by all of the above. 
A)  normally includes an analysis of external environmental forces. 
B)  is a review of a company's existing marketing program. 
C)  helps management determine where the marketing program should go in the future. 
D)  reviews in detail the company's present marketing mix. 
E)  is accurately described by all of the above.

Question 11

To be identified as a strategic business unit (SBU), a division or unit of a larger corporation that operates as a separate entity, should:

Accepted Answer

A)  have no competition. 
B)  be a separately identifiable business. 
C)  have the same mission statement as all the other divisions owned and operated by the organization. 
D)  have no identifiable top-level management. 
E)  produce one and only one product. 
A)  have no competition. 
B)  be a separately identifiable business. 
C)  have the same mission statement as all the other divisions owned and operated by the organization. 
D)  have no identifiable top-level management. 
E)  produce one and only one product.

Question 12

In strategic planning, managers match an organization's resources with its market opportunities over the long run.

Accepted Answer

A) True 
 B)False

Question 13

The term strategic window refers to:

Accepted Answer

A)  the view competitors have of each other. 
B)  the limited amount of time during which a firm's resources coincide with a particular market opportunity. 
C)  the scope of a firm's mission statement. 
D)  the time allotted for creating a corporate strategic plan. 
E)  how a corporation's various strategic business units are placed on the firm's organizational chart. 
A)  the view competitors have of each other. 
B)  the limited amount of time during which a firm's resources coincide with a particular market opportunity. 
C)  the scope of a firm's mission statement. 
D)  the time allotted for creating a corporate strategic plan. 
E)  how a corporation's various strategic business units are placed on the firm's organizational chart.

Question 14

Labatt, the Toronto-based brewer, has used a product-market growth strategy of _____ by acquiring the Toronto Blue Jays and four cable television channels.

Accepted Answer

A)  harvesting 
B)  market penetration 
C)  market development 
D)  diversification 
E)  divestment 
A)  harvesting 
B)  market penetration 
C)  market development 
D)  diversification 
E)  divestment

Question 15

Coca-Cola still markets Tab to a group of extremely loyal fans of the diet soda. Coca-Cola doe not promote the product, but it does continue making the product available to keep its customers happy. Coke takes what little profit Tab earns and uses that money in more attractive markets. Coca-Cola is using a _____ strategy with Tab.

Accepted Answer

A)  protect 
B)  divest 
C)  harvest 
D)  invest 
E)  diversify 
A)  protect 
B)  divest 
C)  harvest 
D)  invest 
E)  diversify

Question 16

The annual marketing plan is the "how-to-do-it" document that guides executives and other employees involved in marketing.

Accepted Answer

A) True 
 B)False

Question 17

The first step in strategic company planning is to:

Accepted Answer

A)  select strategies. 
B)  define the organizational mission. 
C)  assess the company mission statement. 
D)  set organizational objectives. 
E)  select the company's target market. 
A)  select strategies. 
B)  define the organizational mission. 
C)  assess the company mission statement. 
D)  set organizational objectives. 
E)  select the company's target market.

Question 18

Tropicana increased its production of single-serving containers of fruit-based juices and introduced vending machines to make it more readily available to people who ordinarily bought Tropicana juice when they were thirsty. Which of the following strategic alternatives did Tropicana use?

Accepted Answer

A)  market penetration 
B)  divestment 
C)  milking 
D)  diversification 
E)  product development 
A)  market penetration 
B)  divestment 
C)  milking 
D)  diversification 
E)  product development

Question 19

According to the _____ framework, a firm must increase the value offered to its customers by choosing and effectively implementing one of the following three: operational excellence, product leadership, or customer intimacy.

Accepted Answer

A)  value disciplines 
B)  Boston Consulting Group 
C)  marketing concept 
D)  market-product growth 
E)  General Electric business 
A)  value disciplines 
B)  Boston Consulting Group 
C)  marketing concept 
D)  market-product growth 
E)  General Electric business

Question 20

The _____ _____ is a planning model that allows an organization to classify each of its strategic business  units according to its market share relative to its competitors and the growth rate of the industry in which the SBU operates.

Accepted Answer

The answer of The _____ _____ is a planning model...

A _____ refers to any feature of an organization or brand perceived by customers to be desirable and different from those of the competition.

Strategic planning:

Which of the following is the BEST example of a customer-oriented mission statement?

The _____ for Starbucks is "to establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles as we grow."

The marketing manager for a new online magazine is in the midst of the _____ stage of the management process when he compares actual advertising revenue to predicted revenue.

The _____ for Head Start is to create special programs for children of poverty that will improve their opportunities and their ability to achieve while downplaying the pattern of failure they see in their day-to-day lives.

A situation analysis:

To be identified as a strategic business unit (SBU), a division or unit of a larger corporation that operates as a separate entity, should:

In strategic planning, managers match an organization's resources with its market opportunities over the long run.

The term strategic window refers to:

Labatt, the Toronto-based brewer, has used a product-market growth strategy of _____ by acquiring the Toronto Blue Jays and four cable television channels.

The annual marketing plan is the "how-to-do-it" document that guides executives and other employees involved in marketing.

The first step in strategic company planning is to:

Tropicana increased its production of single-serving containers of fruit-based juices and introduced vending machines to make it more readily available to people who ordinarily bought Tropicana juice when they were thirsty. Which of the following strategic alternatives did Tropicana use?

According to the _____ framework, a firm must increase the value offered to its customers by choosing and effectively implementing one of the following three: operational excellence, product leadership, or customer intimacy.

The _ _ is a planning model that allows an organization to classify each of its strategic business units according to its market share relative to its competitors and the growth rate of the industry in which the SBU operates.

The Field of Marketing

The Dynamic Marketing Environment

Global Markets and Marketing

Consumer Markets and Buying Behavior

Business Markets and Buying Behavior

Marketing Research and Market Information

Product Planning and Development

Product-Mix Strategies

Brands, Packaging, and Other Product Features

Services Marketing

Price Determination

Pricing Strategies

Channels of Distribution

Retailing

Wholesaling and Physical Distribution

Integrated Marketing Communications

Personal Selling and Sales Management

Advertising, Sales Promotion, and Public Relations

Marketing Implementation and Evaluation

Marketing and the Information Economy

Market Segmentation Targeting and Positioning

Filters

Exam 20: Strategic Marketing Planning

A _____ refers to any feature of an organization or brand perceived by customers to be desirable and different from those of the competition.

Strategic planning:

Which of the following is the BEST example of a customer-oriented mission statement?

The _____ for Starbucks is "to establish Starbucks as the premier purveyor of the finest coffee in the world while maintaining our uncompromising principles as we grow."

The marketing manager for a new online magazine is in the midst of the _____ stage of the management process when he compares actual advertising revenue to predicted revenue.

The _____ for Head Start is to create special programs for children of poverty that will improve their opportunities and their ability to achieve while downplaying the pattern of failure they see in their day-to-day lives.

A situation analysis:

To be identified as a strategic business unit (SBU), a division or unit of a larger corporation that operates as a separate entity, should:

In strategic planning, managers match an organization's resources with its market opportunities over the long run.

The term strategic window refers to:

Labatt, the Toronto-based brewer, has used a product-market growth strategy of _____ by acquiring the Toronto Blue Jays and four cable television channels.

The annual marketing plan is the "how-to-do-it" document that guides executives and other employees involved in marketing.

The first step in strategic company planning is to:

Tropicana increased its production of single-serving containers of fruit-based juices and introduced vending machines to make it more readily available to people who ordinarily bought Tropicana juice when they were thirsty. Which of the following strategic alternatives did Tropicana use?

According to the _____ framework, a firm must increase the value offered to its customers by choosing and effectively implementing one of the following three: operational excellence, product leadership, or customer intimacy.

The _____ _____ is a planning model that allows an organization to classify each of its strategic business units according to its market share relative to its competitors and the growth rate of the industry in which the SBU operates.

The Field of Marketing

The Dynamic Marketing Environment

Global Markets and Marketing

Consumer Markets and Buying Behavior

Business Markets and Buying Behavior

Marketing Research and Market Information

Product Planning and Development

Product-Mix Strategies

Brands, Packaging, and Other Product Features

Services Marketing

Price Determination

Pricing Strategies

Channels of Distribution

Retailing

Wholesaling and Physical Distribution

Integrated Marketing Communications

Personal Selling and Sales Management

Advertising, Sales Promotion, and Public Relations

Marketing Implementation and Evaluation

Marketing and the Information Economy

Market Segmentation Targeting and Positioning

Filters

The _ _ is a planning model that allows an organization to classify each of its strategic business units according to its market share relative to its competitors and the growth rate of the industry in which the SBU operates.