Question 1

Which of the following terms refers to a group of consumers who respond similarly to a firm's marketing efforts?

Accepted Answer

A) Market segment 
B) Targeting 
C) Product line 
D) Market penetration 
E) Market positioning 
A) Market segment 
B) Targeting 
C) Product line 
D) Market penetration 
E) Market positioning

Question 2

Capricus Leathers Inc. is a company that manufactures leather apparel and accessories. The company sells two products, Indigo and Tango. Both the products serve in a low-growth market. While Indigo has significant market share in the market, Tango has less than 1 percent market share.
-Which of the following terms is used in the Boston Consulting Group (BCG)product portfolio analysis to refer to a product that has a high market share in a high-growth market?

Accepted Answer

A) Cash cow 
B) Star 
C) Dog 
D) Question mark 
E) Neutral factor 
A) Cash cow 
B) Star 
C) Dog 
D) Question mark 
E) Neutral factor

Question 3

A product line consists of a group of dissimilar products.

Accepted Answer

A) True 
 B)False

Question 4

What is the next step that a business organization has to perform after completing situation analysis?

Accepted Answer

A) Identifying the organization's objectives 
B) Evaluating the effectiveness of the marketing plan 
C) Evaluating market performance 
D) Conducting segmentation, targeting, and positioning 
E) Setting marketing objectives for the organization 
A) Identifying the organization's objectives 
B) Evaluating the effectiveness of the marketing plan 
C) Evaluating market performance 
D) Conducting segmentation, targeting, and positioning 
E) Setting marketing objectives for the organization

Question 5

Which of the following terms is used in the Boston Consulting Group (BCG)product portfolio analysis to refer to a product that has low market share in a market characterized by high growth?

Accepted Answer

A) Champion 
B) Star 
C) Question mark 
D) Dog 
E) Cash cow 
A) Champion 
B) Star 
C) Question mark 
D) Dog 
E) Cash cow

Question 6

Explain portfolio analysis.

Accepted Answer

In portfolio analysis, a management eval

Question 7

Lincoln introduced the new Lincoln Navigator, a large luxury SUV, to appeal to higher income families who do not desire to buy a minivan.The Navigator is a luxury 8-seater car, which has more power, and offer many more luxury features than traditional minivans.This is an example of .........

Accepted Answer

A) Market development 
B) Market positioning 
C) Situation analysis 
D) Market segmentation 
E) A strategic business unit 
A) Market development 
B) Market positioning 
C) Situation analysis 
D) Market segmentation 
E) A strategic business unit

Question 8

Lego Inc., a manufacturer of computers, has developed a brand image by delivering high-quality products at affordable prices.This image results in customers choosing Lego's products over competing products.In this case, which of the following refers to Lego's strategy of creating a distinct and desirable understanding in the minds of consumers of what its product represents?

Accepted Answer

A) Locational excellence 
B) Market segmentation 
C) Target marketing 
D) Market positioning 
E) Downsizing 
A) Locational excellence 
B) Market segmentation 
C) Target marketing 
D) Market positioning 
E) Downsizing

Question 9

Actual strategic planning is a sequential process.

Accepted Answer

A) True 
 B)False

Question 10

Lunar Inc. and Qwerty Inc. are competitors in the production of laptops for professionals. To improve sales, the management of Lunar decides to adopt the strategy of market penetration and the management of Qwerty decides to adopt market development.
-Which of the following is Qwerty most likely to do as part of its strategy?

Accepted Answer

A) It will announce bonus points for regular customers. 
B) It will get celebrities to endorse its product. 
C) It will start producing laptop accessories. 
D) It will expand its operation to new countries. 
E) It will begin a media campaign for marketing its product. 
A) It will announce bonus points for regular customers. 
B) It will get celebrities to endorse its product. 
C) It will start producing laptop accessories. 
D) It will expand its operation to new countries. 
E) It will begin a media campaign for marketing its product.

Question 11

TravelSmart Inc.offers a range of travel packages to tourist destinations across the world.The customers are charged according to the services provided during the tour.This allows the customers to choose a package proportionate to their income and requirements.Given this information, which of the following elements of a marketing mix is stressed upon by the company?

Accepted Answer

A) Promotion 
B) Product 
C) Price 
D) Place 
E) Power 
A) Promotion 
B) Product 
C) Price 
D) Place 
E) Power

Question 12

Which of the following is true of situation analysis?

Accepted Answer

A) It is performed using a SWOT analysis 
B) It is independent of political and demographic factors. 
C) It overlooks the opportunities and threats to an organization. 
D) It categorizes strengths and weaknesses as outside the control of a firm. 
E) It is executed before creating the mission statement of an organization. 
A) It is performed using a SWOT analysis 
B) It is independent of political and demographic factors. 
C) It overlooks the opportunities and threats to an organization. 
D) It categorizes strengths and weaknesses as outside the control of a firm. 
E) It is executed before creating the mission statement of an organization.

Question 13

The growth rate of the soft-drink industry in the country of Norborg has been low for a few years now.Which of the following terms, according to the Boston Consulting Group (BCG)portfolio analysis, can be used to refer to Cranco Inc., the brand that has the highest market share in this industry?

Accepted Answer

A) Question mark 
B) Star 
C) Dog 
D) Champion 
E) Cash cow 
A) Question mark 
B) Star 
C) Dog 
D) Champion 
E) Cash cow

Question 14

Explain how Costco has used the four overarching strategies build a sustainable competitive advantage.

Accepted Answer

Students need to provide example for eac

Question 15

Balter Technologies Inc.is a firm that manufactures innovative computer accessories.The company organizes a media campaign to increase the public awareness about its products.Which of the following elements of a marketing mix is used by Balter Technologies in this case to communicate the value of its offerings?

Accepted Answer

A) Product 
B) Price 
C) Promotion 
D) Place 
E) Process 
A) Product 
B) Price 
C) Promotion 
D) Place 
E) Process

Question 16

The top managers of a firm prepare a marketing plan.They define the mission and objectives of the business and evaluate the present situation of the firm.Which of the following phases of the marketing plan includes these activities performed by the top managers?

Accepted Answer

A) Planning 
B) Implementation 
C) Control 
D) Initiation 
E) Design 
A) Planning 
B) Implementation 
C) Control 
D) Initiation 
E) Design

Question 17

A company has access to many proprietary technologies.This is an example of the company's strength.

Accepted Answer

A) True 
 B)False

Question 18

Lack of financial resources is an example of a threat that a company is facing.

Accepted Answer

A) True 
 B)False

Question 19

Uncle Steve Inc., a chain of restaurants, opens a new outlet near an industrial complex.This helps it to attract many customers as there is no other restaurant in the vicinity.In this case, the decision to open a new outlet in this area is a part of the firm's strategy on:

Accepted Answer

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

Question 20

An organization appoints a marketing manager to study the effectiveness of the marketing plan that it has implemented.The manager analyzes organizational performance using various metrics and gives a final report.In the context of developing a marketing plan, the organization is in the phase of:

Accepted Answer

A) initiation. 
B) planning. 
C) design. 
D) control. 
E) implementation. 
A) initiation. 
B) planning. 
C) design. 
D) control. 
E) implementation.

Which of the following terms refers to a group of consumers who respond similarly to a firm's marketing efforts?

A product line consists of a group of dissimilar products.

What is the next step that a business organization has to perform after completing situation analysis?

Which of the following terms is used in the Boston Consulting Group (BCG)product portfolio analysis to refer to a product that has low market share in a market characterized by high growth?

Explain portfolio analysis.

Lincoln introduced the new Lincoln Navigator, a large luxury SUV, to appeal to higher income families who do not desire to buy a minivan.The Navigator is a luxury 8-seater car, which has more power, and offer many more luxury features than traditional minivans.This is an example of .........

Actual strategic planning is a sequential process.

Which of the following is true of situation analysis?

The growth rate of the soft-drink industry in the country of Norborg has been low for a few years now.Which of the following terms, according to the Boston Consulting Group (BCG)portfolio analysis, can be used to refer to Cranco Inc., the brand that has the highest market share in this industry?

Explain how Costco has used the four overarching strategies build a sustainable competitive advantage.

The top managers of a firm prepare a marketing plan.They define the mission and objectives of the business and evaluate the present situation of the firm.Which of the following phases of the marketing plan includes these activities performed by the top managers?

A company has access to many proprietary technologies.This is an example of the company's strength.

Lack of financial resources is an example of a threat that a company is facing.

Uncle Steve Inc., a chain of restaurants, opens a new outlet near an industrial complex.This helps it to attract many customers as there is no other restaurant in the vicinity.In this case, the decision to open a new outlet in this area is a part of the firm's strategy on:

An organization appoints a marketing manager to study the effectiveness of the marketing plan that it has implemented.The manager analyzes organizational performance using various metrics and gives a final report.In the context of developing a marketing plan, the organization is in the phase of:

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

Which of the following terms refers to a group of consumers who respond similarly to a firm's marketing efforts?

A product line consists of a group of dissimilar products.

What is the next step that a business organization has to perform after completing situation analysis?

Which of the following terms is used in the Boston Consulting Group (BCG)product portfolio analysis to refer to a product that has low market share in a market characterized by high growth?

Explain portfolio analysis.

Lincoln introduced the new Lincoln Navigator, a large luxury SUV, to appeal to higher income families who do not desire to buy a minivan.The Navigator is a luxury 8-seater car, which has more power, and offer many more luxury features than traditional minivans.This is an example of .........

Actual strategic planning is a sequential process.

Which of the following is true of situation analysis?

The growth rate of the soft-drink industry in the country of Norborg has been low for a few years now.Which of the following terms, according to the Boston Consulting Group (BCG)portfolio analysis, can be used to refer to Cranco Inc., the brand that has the highest market share in this industry?

Explain how Costco has used the four overarching strategies build a sustainable competitive advantage.

The top managers of a firm prepare a marketing plan.They define the mission and objectives of the business and evaluate the present situation of the firm.Which of the following phases of the marketing plan includes these activities performed by the top managers?

A company has access to many proprietary technologies.This is an example of the company's strength.

Lack of financial resources is an example of a threat that a company is facing.

Uncle Steve Inc., a chain of restaurants, opens a new outlet near an industrial complex.This helps it to attract many customers as there is no other restaurant in the vicinity.In this case, the decision to open a new outlet in this area is a part of the firm's strategy on:

An organization appoints a marketing manager to study the effectiveness of the marketing plan that it has implemented.The manager analyzes organizational performance using various metrics and gives a final report.In the context of developing a marketing plan, the organization is in the phase of:

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