Question 1

Operational plans focus on the long-term execution of the marketing plan performed by top-level management.

Accepted Answer

A) True 
 B)False

Question 2

In which step of the market planning process are decisions made concerning what markets to target and what marketing mix strategies to use?

Accepted Answer

A)  perform a situation analysis 
B)  develop marketing strategies 
C)  implement the marketing plan 
D)  control the marketing plan 
E)  develop marketing metrics 
A)  perform a situation analysis 
B)  develop marketing strategies 
C)  implement the marketing plan 
D)  control the marketing plan 
E)  develop marketing metrics

Question 3

Explain how business planning helps managers in a firm.

Accepted Answer

Business planning is an ongoing process

Question 4

________ refers to a company's estimate of the number of consumers who are willing and able to pay for a product.

Accepted Answer

A)  The market segment 
B)  Potential demand 
C)  Return on marketing investment 
D)  Market share 
E)  The mass market 
A)  The market segment 
B)  Potential demand 
C)  Return on marketing investment 
D)  Market share 
E)  The mass market

Question 5

Why might a company choose a diversification strategy?

Accepted Answer

A company with low-share produ

Question 6

The first step of the market planning process involves closely examining the ________.

Accepted Answer

A)  marketing strategies 
B)  product development process 
C)  marketing controls 
D)  marketing environment 
E)  marketing team 
A)  marketing strategies 
B)  product development process 
C)  marketing controls 
D)  marketing environment 
E)  marketing team

Question 7

Analysis of the external environment of an organization identifies the organization's ________.

Accepted Answer

A)  strengths and weaknesses 
B)  strengths and opportunities 
C)  opportunities and threats 
D)  weaknesses and threats 
E)  strengths and threats 
A)  strengths and weaknesses 
B)  strengths and opportunities 
C)  opportunities and threats 
D)  weaknesses and threats 
E)  strengths and threats

Question 8

Movie production companies sometimes re-release classic films to theaters to give people who enjoyed them the first time a chance to see the movies again. This is an example of a market penetration strategy.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is a common objection to relying exclusively on ROMI for measuring marketing success?

Accepted Answer

A)  In a company's accounting statements, marketing expenditures tend to appear as investments rather than costs. 
B)  Calculating ROMI requires knowing what would have happened if the marketing expenditures had never taken place. 
C)  ROMI tends to lead managers toward a more long-term perspective on decision making. 
D)  ROMI focuses on a firm's sustainability commitments to the detriment of its short-term performance. 
E)  ROMI calculates profit by deducting expenditures rather than dividing by expenditures. 
A)  In a company's accounting statements, marketing expenditures tend to appear as investments rather than costs. 
B)  Calculating ROMI requires knowing what would have happened if the marketing expenditures had never taken place. 
C)  ROMI tends to lead managers toward a more long-term perspective on decision making. 
D)  ROMI focuses on a firm's sustainability commitments to the detriment of its short-term performance. 
E)  ROMI calculates profit by deducting expenditures rather than dividing by expenditures.

Question 10

Hershey introduced edible Valentine cards when it launched Hugs & Kisses Friendship Exchange and packaged one white chocolate and one brown chocolate Kiss with write-on "To" and "From" areas. This is an example of a market development strategy.

Accepted Answer

A) True 
 B)False

Question 11

Kimball Gardens is a company that operates as two distinct businesses: one that sells lawn and garden products and one that markets booklets. Each business is called a ________.

Accepted Answer

A)  separate entity 
B)  strategic business unit (SBU) 
C)  cash cow 
D)  star 
E)  business portfolio 
A)  separate entity 
B)  strategic business unit (SBU) 
C)  cash cow 
D)  star 
E)  business portfolio

Question 12

Which of the following is true about functional planning?

Accepted Answer

A)  It is conducted by the various functional areas of a firm. 
B)  It is also called hierarchical management. 
C)  It covers a longer time span than strategic planning does. 
D)  It covers a shorter time span than operational planning does. 
E)  It is the same as strategic planning. 
A)  It is conducted by the various functional areas of a firm. 
B)  It is also called hierarchical management. 
C)  It covers a longer time span than strategic planning does. 
D)  It covers a shorter time span than operational planning does. 
E)  It is the same as strategic planning.

Question 13

Concrete measures of various aspects of marketing performance are called ________.

Accepted Answer

A)  operational plans 
B)  marketing metrics 
C)  action plans 
D)  marketing objectives 
E)  pricing strategies 
A)  operational plans 
B)  marketing metrics 
C)  action plans 
D)  marketing objectives 
E)  pricing strategies

Question 14

Briefly describe the purpose and components of an action plan.

Accepted Answer

An action plan, sometimes referred to as

Question 15

When General Mills urged consumers to lower their cholesterol by eating Cheerios twice a day over the course of six weeks, the aim was to increase usage among current customers. General Mills used a ________ strategy.

Accepted Answer

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

Question 16

Biopure is a company that manufactures and markets oxygen therapeutics. Its products are Hemopure for human use and Oxyglobin for animal use. Both have been developed as alternatives to red blood cell transfusions. Which of the following would be part of Biopure's internal environment?

Accepted Answer

A)  approval by the U.S. Food and Drug Administration to allow veterinarians to use Oxyglobin 
B)  the global market for the raw materials needed to make Hemopure and Oxyglobin 
C)  the patented manufacturing process that Biopure uses to produce Hemopure and Oxyglobin 
D)  a competitor developing a similar product 
E)  changes in patent law 
A)  approval by the U.S. Food and Drug Administration to allow veterinarians to use Oxyglobin 
B)  the global market for the raw materials needed to make Hemopure and Oxyglobin 
C)  the patented manufacturing process that Biopure uses to produce Hemopure and Oxyglobin 
D)  a competitor developing a similar product 
E)  changes in patent law

Operational plans focus on the long-term execution of the marketing plan performed by top-level management.

In which step of the market planning process are decisions made concerning what markets to target and what marketing mix strategies to use?

Explain how business planning helps managers in a firm.

________ refers to a company's estimate of the number of consumers who are willing and able to pay for a product.

Why might a company choose a diversification strategy?

The first step of the market planning process involves closely examining the ________.

Analysis of the external environment of an organization identifies the organization's ________.

Movie production companies sometimes re-release classic films to theaters to give people who enjoyed them the first time a chance to see the movies again. This is an example of a market penetration strategy.

Which of the following is a common objection to relying exclusively on ROMI for measuring marketing success?

Hershey introduced edible Valentine cards when it launched Hugs & Kisses Friendship Exchange and packaged one white chocolate and one brown chocolate Kiss with write-on "To" and "From" areas. This is an example of a market development strategy.

Kimball Gardens is a company that operates as two distinct businesses: one that sells lawn and garden products and one that markets booklets. Each business is called a ________.

Which of the following is true about functional planning?

Concrete measures of various aspects of marketing performance are called ________.

Briefly describe the purpose and components of an action plan.

When General Mills urged consumers to lower their cholesterol by eating Cheerios twice a day over the course of six weeks, the aim was to increase usage among current customers. General Mills used a ________ strategy.

Biopure is a company that manufactures and markets oxygen therapeutics. Its products are Hemopure for human use and Oxyglobin for animal use. Both have been developed as alternatives to red blood cell transfusions. Which of the following would be part of Biopure's internal environment?

Welcome to the World of Marketing: Create and Deliver Value

Global, Ethical, and Sustainable Marketing

Market Research

Marketing Analytics: Welcome to the Era of Big Data

Understand Consumer and Business Markets

Segmentation, Target Marketing, and Positioning

Product I: Innovation and New Product Development

Product Ii: Product Strategy, Branding, and Product Management

Price: What Is the Value Proposition Worth

Deliver the Goods: Determine the Distribution Strategy

Deliver the Customer Experience: Goods and Services Via Bricks and Clicks

Promotion I: Advertising and Sales Promotion

Promotion Ii: Social Media, Directdatabase Marketing, Personal Selling, and Public Relations

Filters

Exam 3: Strategic Market Planning

Operational plans focus on the long-term execution of the marketing plan performed by top-level management.

In which step of the market planning process are decisions made concerning what markets to target and what marketing mix strategies to use?

Explain how business planning helps managers in a firm.

________ refers to a company's estimate of the number of consumers who are willing and able to pay for a product.

Why might a company choose a diversification strategy?

The first step of the market planning process involves closely examining the ________.

Analysis of the external environment of an organization identifies the organization's ________.

Movie production companies sometimes re-release classic films to theaters to give people who enjoyed them the first time a chance to see the movies again. This is an example of a market penetration strategy.

Which of the following is a common objection to relying exclusively on ROMI for measuring marketing success?

Hershey introduced edible Valentine cards when it launched Hugs & Kisses Friendship Exchange and packaged one white chocolate and one brown chocolate Kiss with write-on "To" and "From" areas. This is an example of a market development strategy.

Kimball Gardens is a company that operates as two distinct businesses: one that sells lawn and garden products and one that markets booklets. Each business is called a ________.

Which of the following is true about functional planning?

Concrete measures of various aspects of marketing performance are called ________.

Briefly describe the purpose and components of an action plan.

When General Mills urged consumers to lower their cholesterol by eating Cheerios twice a day over the course of six weeks, the aim was to increase usage among current customers. General Mills used a ________ strategy.

Biopure is a company that manufactures and markets oxygen therapeutics. Its products are Hemopure for human use and Oxyglobin for animal use. Both have been developed as alternatives to red blood cell transfusions. Which of the following would be part of Biopure's internal environment?

Welcome to the World of Marketing: Create and Deliver Value

Global, Ethical, and Sustainable Marketing

Market Research

Marketing Analytics: Welcome to the Era of Big Data

Understand Consumer and Business Markets

Segmentation, Target Marketing, and Positioning

Product I: Innovation and New Product Development

Product Ii: Product Strategy, Branding, and Product Management

Price: What Is the Value Proposition Worth

Deliver the Goods: Determine the Distribution Strategy

Deliver the Customer Experience: Goods and Services Via Bricks and Clicks

Promotion I: Advertising and Sales Promotion

Promotion Ii: Social Media, Directdatabase Marketing, Personal Selling, and Public Relations

Filters