Question 1

Which of the following is true of a SWOT analysis?

Accepted Answer

A) It is typically performed by lower-level managers. 
B) It is used to design a firm's mission and objectives. 
C) It is independent of social and political factors. 
D) It is designed to help a firm determine its own strengths. 
E) It is usually conducted in the control phase of a market plan. 
A) It is typically performed by lower-level managers. 
B) It is used to design a firm's mission and objectives. 
C) It is independent of social and political factors. 
D) It is designed to help a firm determine its own strengths. 
E) It is usually conducted in the control phase of a market plan.

Question 2

Zorbo Furniture Inc.is a firm that manufactures and markets wooden furniture.One of the departments in the firm is devoted to the production and marketing of office furniture.The department is managed independently from other departments and is held accountable for its profitability.In this case, the office furniture department is an example of a(n):

Accepted Answer

A) joint venture. 
B) executive department. 
C) product line. 
D) subsidiary firm. 
E) strategic business unit. 
A) joint venture. 
B) executive department. 
C) product line. 
D) subsidiary firm. 
E) strategic business unit.

Question 3

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.
-According to the Boston Consulting Group (BCG)matrix, Tango is called a:

Accepted Answer

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

Question 4

In the context of a SWOT analysis, which of the following is considered an opportunity to businesses?

Accepted Answer

A) Presence of wide distribution networks 
B) Availability of strong financial resources 
C) Favourable political changes 
D) Superior product offerings 
E) Presence of a strong base of loyal customers 
A) Presence of wide distribution networks 
B) Availability of strong financial resources 
C) Favourable political changes 
D) Superior product offerings 
E) Presence of a strong base of loyal customers

Question 5

Tectron Computers Inc., a manufacturer of desktop computers and peripherals, focuses on efficient coordination in every stage of production and delivery and ensures that customers' demands are met within the target time.This precision makes Tectron a favourite choice among customers.Given this information, which of the following does the company use to achieve sustainable competitive advantage?

Accepted Answer

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

Question 6

RON Inc.is a company that manufactures home appliances.The company has established a wide retail network to sell its products.As part of its growth strategy, the company launches a new subsidiary that manufactures office furniture.This division is expected to attract a new range of customers.In this scenario, the company applies the strategy of:

Accepted Answer

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

Question 7

Which of the following is a measure of a product's strength in a particular market?

Accepted Answer

A) Wholesale index 
B) Industry index 
C) Market value 
D) Relative market share 
E) Market growth rate 
A) Wholesale index 
B) Industry index 
C) Market value 
D) Relative market share 
E) Market growth rate

Question 8

The board of directors of an organization meets to redefine the mission and objectives of the business.They set long-term objectives and form a new mission statement.Which of the following phases of developing a marketing plan do the actions by the board of directors constitute?

Accepted Answer

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

Question 9

Which of the following Ps of marketing is associated with the delivery of value to customers?

Accepted Answer

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

Question 10

Which of the following is the marketing strategy that employs an existing marketing mix and focuses a firm's efforts on existing customers?

Accepted Answer

A) Product diversification 
B) Market diversification 
C) Market development 
D) Market penetration 
E) Product development 
A) Product diversification 
B) Market diversification 
C) Market development 
D) Market penetration 
E) Product development

Question 11

Describe how your university can use the four major growth strategies.

Accepted Answer

Students answer will vary.Examples could

Question 12

Rockslide Inc., a manufacturer of sports equipment, classifies its customers into different age groups.Each of these groups is unique in terms of its preference for the company's products.Given this information, this classification is an example of:

Accepted Answer

A) downsizing. 
B) positioning. 
C) segmentation. 
D) diversification. 
E) locational excellence. 
A) downsizing. 
B) positioning. 
C) segmentation. 
D) diversification. 
E) locational excellence.

Question 13

What is a market segment? Describe two market segments for a telecommunication company.

Accepted Answer

A market segment is a group of consumers

Question 14

Arpin Stores Inc. is a wholesale food manufacturing company. The company markets packaged food products across the United States. The company appoints an external agency to perform a SWOT analysis of the company.
-Which of the following observations, if made by the external agency, will present the company with an opportunity?

Accepted Answer

A) The company has exclusive market reach in the packaged food industry. 
B) One of Arpin Stores' major competitors has recently gone bankrupt. 
C) The company owns the largest food manufacturing facility in the United States. 
D) The company owns many brands that are well known in the United States. 
E) Arpin Stores has a stronger marketing department compared to its competitors. 
A) The company has exclusive market reach in the packaged food industry. 
B) One of Arpin Stores' major competitors has recently gone bankrupt. 
C) The company owns the largest food manufacturing facility in the United States. 
D) The company owns many brands that are well known in the United States. 
E) Arpin Stores has a stronger marketing department compared to its competitors.

Question 15

A company sells its product through the Internet and hence is able to access a wide range of customers.This statement is indicative of the company's strength.

Accepted Answer

A) True 
 B)False

Question 16

Arpin Stores Inc. is a wholesale food manufacturing company. The company markets packaged food products across the United States. The company appoints an external agency to perform a SWOT analysis of the company.
-Which of the following observations, if made by the external agency, will indicate that the company is facing a threat?

Accepted Answer

A) The company incurs high transportation costs as its manufacturing facility is at a remote place. 
B) One of Arpin Stores' major competitors has recently gone bankrupt. 
C) Many of the company's employees lack interpersonal skills. 
D) A recent regulation has increased the tax rates for packaged food products. 
E) Arpin Stores has a weaker marketing department compared to its competitors. 
A) The company incurs high transportation costs as its manufacturing facility is at a remote place. 
B) One of Arpin Stores' major competitors has recently gone bankrupt. 
C) Many of the company's employees lack interpersonal skills. 
D) A recent regulation has increased the tax rates for packaged food products. 
E) Arpin Stores has a weaker marketing department compared to its competitors.

Question 17

Arpin Stores Inc. is a wholesale food manufacturing company. The company markets packaged food products across the United States. The company appoints an external agency to perform a SWOT analysis of the company.
-Which of the following observations, if made by the external agency, will indicate the company's strength?

Accepted Answer

A) The market potential for packaged goods is high in the United States. 
B) Economic slowdowns do not have a significant impact in the wholesale food industry. 
C) The company has exclusive market reach in the packaged food industry. 
D) One of Arpin Stores' major competitors has recently gone bankrupt. 
E) The U.S Congress recently passed a bill to subsidize wholesale food manufacturers. 
A) The market potential for packaged goods is high in the United States. 
B) Economic slowdowns do not have a significant impact in the wholesale food industry. 
C) The company has exclusive market reach in the packaged food industry. 
D) One of Arpin Stores' major competitors has recently gone bankrupt. 
E) The U.S Congress recently passed a bill to subsidize wholesale food manufacturers.

Which of the following is true of a SWOT analysis?

In the context of a SWOT analysis, which of the following is considered an opportunity to businesses?

Which of the following is a measure of a product's strength in a particular market?

The board of directors of an organization meets to redefine the mission and objectives of the business.They set long-term objectives and form a new mission statement.Which of the following phases of developing a marketing plan do the actions by the board of directors constitute?

Which of the following Ps of marketing is associated with the delivery of value to customers?

Which of the following is the marketing strategy that employs an existing marketing mix and focuses a firm's efforts on existing customers?

Describe how your university can use the four major growth strategies.

Rockslide Inc., a manufacturer of sports equipment, classifies its customers into different age groups.Each of these groups is unique in terms of its preference for the company's products.Given this information, this classification is an example of:

What is a market segment? Describe two market segments for a telecommunication company.

A company sells its product through the Internet and hence is able to access a wide range of customers.This statement is indicative of the company's strength.

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 is true of a SWOT analysis?

In the context of a SWOT analysis, which of the following is considered an opportunity to businesses?

Which of the following is a measure of a product's strength in a particular market?

The board of directors of an organization meets to redefine the mission and objectives of the business.They set long-term objectives and form a new mission statement.Which of the following phases of developing a marketing plan do the actions by the board of directors constitute?

Which of the following Ps of marketing is associated with the delivery of value to customers?

Which of the following is the marketing strategy that employs an existing marketing mix and focuses a firm's efforts on existing customers?

Describe how your university can use the four major growth strategies.

Rockslide Inc., a manufacturer of sports equipment, classifies its customers into different age groups.Each of these groups is unique in terms of its preference for the company's products.Given this information, this classification is an example of:

What is a market segment? Describe two market segments for a telecommunication company.

A company sells its product through the Internet and hence is able to access a wide range of customers.This statement is indicative of the company's strength.

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