Question 1

Nonprofit organizations don't need to state objectives and form mission statements.

Accepted Answer

A) True 
 B)False  False

Question 2

Denthrill Inc.is a firm that manufacturers dental products.Denthrill produces a range of products such as toothbrushes, toothpastes, and breath fresheners.These products form a:

Accepted Answer

A) premium offering. 
B) market mix. 
C) promotion mix. 
D) product line. 
E) niche portfolio. 
A) premium offering. 
B) market mix. 
C) promotion mix. 
D) product line. 
E) niche portfolio. D

Question 3

A product with a low market share that competes in a high-growth market is called a dog.

Accepted Answer

A) True 
 B)False  False

Question 4

Paralegal Consulting Inc., a firm that offers legal services, decides to open new branches in rural areas.The new branches would help the firm reach out to people who cannot travel to cities and avail legal help.In this case, this decision reflects the firm's strategy regarding:

Accepted Answer

A) product. 
B) process. 
C) price. 
D) place. 
E) promotion. 
A) product. 
B) process. 
C) price. 
D) place. 
E) promotion.

Question 5

Availability of new technology in the market can always be categorized as:

Accepted Answer

A) Strength or Weakness 
B) Opportunity or Threat 
C) Weakness or Threat 
D) Threat 
E) Strength or Opportunity 
A) Strength or Weakness 
B) Opportunity or Threat 
C) Weakness or Threat 
D) Threat 
E) Strength or Opportunity

Question 6

Explain the four major growth strategies that organizations adopt.Provide on example for each strategy.

Accepted Answer

The four major growth strategies are as

Question 7

Emily regularly chooses Argo Airlines for her travels.The company values her preference and rewards her with loyalty points.It would entitle Emily for reduced ticket rates for certain flights.Through this offer, the company succeeds in retaining a regular user.In this scenario, which of the following is used by Argo Airlines to achieve sustainable competitive advantage?

Accepted Answer

A) Operational excellence 
B) Product excellence 
C) Diversification excellence 
D) Locational excellence 
E) Customer excellence 
A) Operational excellence 
B) Product excellence 
C) Diversification excellence 
D) Locational excellence 
E) Customer excellence

Question 8

Briefly explain the final step in the marketing planning process.

Accepted Answer

The final step in the planning process i

Question 9

Market positioning is the process of:

Accepted Answer

A) attempting to change the identity of competing products in the collective minds of the target market. 
B) defining the marketing mix variables to give target customers a distinct and desirable understanding of what a product represents. 
C) evaluating the attractiveness of various segments and then deciding which to pursue as a market. 
D) dividing the market into distinct groups of customers where each individual group has similar needs, wants, or characteristics. 
E) attempting to engage customers with one another or with a company or a brand. 
A) attempting to change the identity of competing products in the collective minds of the target market. 
B) defining the marketing mix variables to give target customers a distinct and desirable understanding of what a product represents. 
C) evaluating the attractiveness of various segments and then deciding which to pursue as a market. 
D) dividing the market into distinct groups of customers where each individual group has similar needs, wants, or characteristics. 
E) attempting to engage customers with one another or with a company or a brand.

Question 10

Market development strategy employs the existing marketing mix and focuses the firm's efforts on existing customers.

Accepted Answer

A) True 
 B)False

Question 11

Explain the processes of segmentation, targeting, and positioning that firms use to identify and evaluate opportunities for increasing sales and profits.

Accepted Answer

Segmentation is the process of dividing

Question 12

As part of a study project, Rachel has to choose a firm and conduct a detailed SWOT analysis.Explain how Rachel will conduct the analysis.

Accepted Answer

Student answers will vary.A SWOT analysi

Question 13

Dorbo Inc.a manufacturer of microprocessors, is known for innovation and holds more than 300 patents.The company invents a microprocessor based on nanotechnology and introduces it to its current customers.Which strategy does Dorbo use in this scenario?

Accepted Answer

A) Customer intensification 
B) Diversification 
C) Product development 
D) Market penetration 
E) Market development 
A) Customer intensification 
B) Diversification 
C) Product development 
D) Market penetration 
E) Market development

Question 14

Wine industry is a very competitive market.Some wineries invest in corporate social responsibility programs knowing that competitors cannot easily copy the programs.This is a good example of ______

Accepted Answer

A) defining the target market. 
B) reducing the cost. 
C) gaining competitive advantage. 
D) increasing promotion. 
E) providing outstanding customer services. 
A) defining the target market. 
B) reducing the cost. 
C) gaining competitive advantage. 
D) increasing promotion. 
E) providing outstanding customer services.

Question 15

Which of the following is the growth strategy that employs an existing marketing offering to reach new market segments?

Accepted Answer

A) Market development 
B) Product development 
C) Diversification strategy 
D) Market penetration 
E) Product intensification 
A) Market development 
B) Product development 
C) Diversification strategy 
D) Market penetration 
E) Product intensification

Question 16

In the Boston Consulting Group (BCG)portfolio analysis, products that are in low-growth markets could be called:

Accepted Answer

A) Stars or question marks 
B) Question marks or dogs 
C) Cash cows or dogs 
D) Stars or cash cows 
E) Cash cows or question marks 
A) Stars or question marks 
B) Question marks or dogs 
C) Cash cows or dogs 
D) Stars or cash cows 
E) Cash cows or question marks

Question 17

The implementation phase of a marketing plan involves:

Accepted Answer

A) Identifying a business's mission and objectives. 
B) Evaluating the performance of a marketing strategy. 
C) Analyzing a market by using marketing metrics. 
D) Identifying and evaluating different opportunities. 
E) Evaluating the present situation of a business. 
A) Identifying a business's mission and objectives. 
B) Evaluating the performance of a marketing strategy. 
C) Analyzing a market by using marketing metrics. 
D) Identifying and evaluating different opportunities. 
E) Evaluating the present situation of a business.

Question 18

Targeting is the process of selecting a segment to pursue as a market.

Accepted Answer

A) True 
 B)False

Question 19

Adams Industries Inc.is a firm that manufactures and markets kitchen appliances in the northern part of Belvier.As part of its expansion program, the company decides to introduce its existing range of products in the southern parts of Belvier.In this scenario, the strategy applied by the company is:

Accepted Answer

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

Question 20

Which of the following is an example of a diversification strategy?

Accepted Answer

A) A firm introduces its current products to a new set of customers. 
B) A company markets an innovative product by using its existing network. 
C) A firm introduces a new product to a segment that is currently not served. 
D) A company exports its products to a new geographical location. 
E) A firm intensifies its marketing activities to increase the sale of its current offerings. 
A) A firm introduces its current products to a new set of customers. 
B) A company markets an innovative product by using its existing network. 
C) A firm introduces a new product to a segment that is currently not served. 
D) A company exports its products to a new geographical location. 
E) A firm intensifies its marketing activities to increase the sale of its current offerings.

Nonprofit organizations don't need to state objectives and form mission statements.

Denthrill Inc.is a firm that manufacturers dental products.Denthrill produces a range of products such as toothbrushes, toothpastes, and breath fresheners.These products form a:

A product with a low market share that competes in a high-growth market is called a dog.

Paralegal Consulting Inc., a firm that offers legal services, decides to open new branches in rural areas.The new branches would help the firm reach out to people who cannot travel to cities and avail legal help.In this case, this decision reflects the firm's strategy regarding:

Availability of new technology in the market can always be categorized as:

Explain the four major growth strategies that organizations adopt.Provide on example for each strategy.

Briefly explain the final step in the marketing planning process.

Market positioning is the process of:

Market development strategy employs the existing marketing mix and focuses the firm's efforts on existing customers.

Explain the processes of segmentation, targeting, and positioning that firms use to identify and evaluate opportunities for increasing sales and profits.

As part of a study project, Rachel has to choose a firm and conduct a detailed SWOT analysis.Explain how Rachel will conduct the analysis.

Dorbo Inc.a manufacturer of microprocessors, is known for innovation and holds more than 300 patents.The company invents a microprocessor based on nanotechnology and introduces it to its current customers.Which strategy does Dorbo use in this scenario?

Wine industry is a very competitive market.Some wineries invest in corporate social responsibility programs knowing that competitors cannot easily copy the programs.This is a good example of ______

Which of the following is the growth strategy that employs an existing marketing offering to reach new market segments?

In the Boston Consulting Group (BCG)portfolio analysis, products that are in low-growth markets could be called:

The implementation phase of a marketing plan involves:

Targeting is the process of selecting a segment to pursue as a market.

Adams Industries Inc.is a firm that manufactures and markets kitchen appliances in the northern part of Belvier.As part of its expansion program, the company decides to introduce its existing range of products in the southern parts of Belvier.In this scenario, the strategy applied by the company is:

Which of the following is an example of a diversification strategy?

Overview of Marketing

Analyzing the Marketing Environment

Consumer Behaviour

Business-To-Business Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Developing New Products

Product, Branding, and Packaging Decisions

Services: The Intangible Product

Pricing Concepts and Strategies: Establishing Value

Distribution Channels

Retailing and Omni-Channel Marketing

Integrated Marketing Communications

Advertising, Sales Promotions, and Personal Selling

Social and Mobile Marketing

Global Marketing

Ethics and Socially Responsible Marketing

Filters

Exam 2: Developing Marketing Strategies and a Marketing Plan

Nonprofit organizations don't need to state objectives and form mission statements.

Denthrill Inc.is a firm that manufacturers dental products.Denthrill produces a range of products such as toothbrushes, toothpastes, and breath fresheners.These products form a:

A product with a low market share that competes in a high-growth market is called a dog.

Paralegal Consulting Inc., a firm that offers legal services, decides to open new branches in rural areas.The new branches would help the firm reach out to people who cannot travel to cities and avail legal help.In this case, this decision reflects the firm's strategy regarding:

Availability of new technology in the market can always be categorized as:

Explain the four major growth strategies that organizations adopt.Provide on example for each strategy.

Briefly explain the final step in the marketing planning process.

Market positioning is the process of:

Market development strategy employs the existing marketing mix and focuses the firm's efforts on existing customers.

Explain the processes of segmentation, targeting, and positioning that firms use to identify and evaluate opportunities for increasing sales and profits.

As part of a study project, Rachel has to choose a firm and conduct a detailed SWOT analysis.Explain how Rachel will conduct the analysis.

Dorbo Inc.a manufacturer of microprocessors, is known for innovation and holds more than 300 patents.The company invents a microprocessor based on nanotechnology and introduces it to its current customers.Which strategy does Dorbo use in this scenario?

Wine industry is a very competitive market.Some wineries invest in corporate social responsibility programs knowing that competitors cannot easily copy the programs.This is a good example of ______

Which of the following is the growth strategy that employs an existing marketing offering to reach new market segments?

In the Boston Consulting Group (BCG)portfolio analysis, products that are in low-growth markets could be called:

The implementation phase of a marketing plan involves:

Targeting is the process of selecting a segment to pursue as a market.

Which of the following is an example of a diversification strategy?

Overview of Marketing

Analyzing the Marketing Environment

Consumer Behaviour

Business-To-Business Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Developing New Products

Product, Branding, and Packaging Decisions

Services: The Intangible Product

Pricing Concepts and Strategies: Establishing Value

Distribution Channels

Retailing and Omni-Channel Marketing

Integrated Marketing Communications

Advertising, Sales Promotions, and Personal Selling

Social and Mobile Marketing

Global Marketing

Ethics and Socially Responsible Marketing

Filters