Question 1

Who should complete operational planning?

Accepted Answer

A)  top management 
B)  mid-level managers 
C)  supervisory management 
D)  lower management 
A)  top management 
B)  mid-level managers 
C)  supervisory management 
D)  lower management B

Question 2

The planning process identifies objectives and determines which actions are needed to attain those objectives.

Accepted Answer

A) True 
 B)False  False

Question 3

Each element of the marketing mix-product, price, distribution, and promotion-is a subset of the overall marketing strategy.

Accepted Answer

A) True 
 B)False  True

Question 4

What type of planning would preparation of quarterly and semi-annual plans by personnel, such as the general sales manager or advertising director, be classified as?

Accepted Answer

A)  consumer planning 
B)  tactical planning 
C)  strategic planning 
D)  managerial planning 
A)  consumer planning 
B)  tactical planning 
C)  strategic planning 
D)  managerial planning

Question 5

SWOT analysis refers to examination of a firm's stability, work ethic, organizational structure, and technological expertise.

Accepted Answer

A) True 
 B)False

Question 6

Marketing strategy is an overall company-wide program for selecting a particular target market and satisfying consumers through a careful balance of elements in the marketing mix.

Accepted Answer

A) True 
 B)False

Question 7

According to the market share/market growth matrix, how does a successful product typically begin?

Accepted Answer

A)  as a question mark, then a star, and eventually moves to the status of cash cow 
B)  as a star, fades to a question mark, and finally becomes a dog and is dropped 
C)  as a cash cow, moves to a question mark, and finally becomes a star 
D)  as a cash cow and fades to a dog when it's dropped 
A)  as a question mark, then a star, and eventually moves to the status of cash cow 
B)  as a star, fades to a question mark, and finally becomes a dog and is dropped 
C)  as a cash cow, moves to a question mark, and finally becomes a star 
D)  as a cash cow and fades to a dog when it's dropped

Question 8

Consumers can now obtain detailed pricing information on the Internet, which has increased their bargaining power with car dealers.

Accepted Answer

A) True 
 B)False

Question 9

As the senior vice president of marketing, Naomi will be closely involved in her firm's strategic planning.

Accepted Answer

A) True 
 B)False

Question 10

What type of strategy do the marketing mix decisions that are MOST closely regulated and subject to public scrutiny usually relate to?

Accepted Answer

A)  product strategy 
B)  promotional strategy 
C)  distribution strategy 
D)  pricing strategy 
A)  product strategy 
B)  promotional strategy 
C)  distribution strategy 
D)  pricing strategy

Question 11

How can relationship marketing help a company?

Accepted Answer

A)  by creating long-term links with individual customers for mutual benefit 
B)  by reducing its strategic planning effort since the need for such planning is greatly diminished 
C)  by finding more effective media for use in advertising and mass marketing 
D)  by cutting through the planning process and moving into tactical plans 
A)  by creating long-term links with individual customers for mutual benefit 
B)  by reducing its strategic planning effort since the need for such planning is greatly diminished 
C)  by finding more effective media for use in advertising and mass marketing 
D)  by cutting through the planning process and moving into tactical plans

Question 12

Strategic business units (SBUs) focus the attention of company managers so they can respond effectively to changing consumer demand within limited markets.

Accepted Answer

A) True 
 B)False

Question 13

How is the term "product" BEST described?

Accepted Answer

A)  It refers only to tangible items that can be seen, tasted, or touched. 
B)  It is a broad concept encompassing the satisfaction of consumer needs. 
C)  It is limited to include goods, services, and ideas only. 
D)  It never refers to such things as package design, brand name, or warranty. 
A)  It refers only to tangible items that can be seen, tasted, or touched. 
B)  It is a broad concept encompassing the satisfaction of consumer needs. 
C)  It is limited to include goods, services, and ideas only. 
D)  It never refers to such things as package design, brand name, or warranty.

Question 14

Which of the following is a marketing planning tool?

Accepted Answer

A)  market share/market growth matrix 
B)  consumer scanning model 
C)  market vulnerability/business opportunity matrix 
D)  market sheet analysis 
A)  market share/market growth matrix 
B)  consumer scanning model 
C)  market vulnerability/business opportunity matrix 
D)  market sheet analysis

Question 15

An example of strategic planning would be a decision by McDonald's to introduce salads to its menu.

Accepted Answer

A) True 
 B)False

Question 16

Assume a firm would like to expand its product line.A complete expansion would cost $100 million, but the firm can raise only $75 million in financing.What is this BEST classified as?

Accepted Answer

A)  a constraint 
B)  an opportunity 
C)  a threat 
D)  a vulnerability 
A)  a constraint 
B)  an opportunity 
C)  a threat 
D)  a vulnerability

Question 17

A firm's mission statement specifies its overall goals and operational scope, as well as providing general guidelines for future management action.

Accepted Answer

A) True 
 B)False

Question 18

According to the market share/market growth matrix, what is the SBU that produces strong cash flows that can be used to finance the growth of other SBUs?

Accepted Answer

A)  the dog 
B)  the question mark 
C)  the cash cow 
D)  the star 
A)  the dog 
B)  the question mark 
C)  the cash cow 
D)  the star

Question 19

What part of the organization should be MOST involved in formulating strategy for success of the good or service in the marketplace?

Accepted Answer

A)  the corporate executive team 
B)  the potential customer 
C)  the vendors and channel members 
D)  the firm's marketing personnel 
A)  the corporate executive team 
B)  the potential customer 
C)  the vendors and channel members 
D)  the firm's marketing personnel

Question 20

The chief executive officer (CEO) and vice president of marketing spend a greater proportion of their time on operational planning than do managers at other organizational levels.

Accepted Answer

A) True 
 B)False

Who should complete operational planning?

The planning process identifies objectives and determines which actions are needed to attain those objectives.

Each element of the marketing mix-product, price, distribution, and promotion-is a subset of the overall marketing strategy.

What type of planning would preparation of quarterly and semi-annual plans by personnel, such as the general sales manager or advertising director, be classified as?

SWOT analysis refers to examination of a firm's stability, work ethic, organizational structure, and technological expertise.

Marketing strategy is an overall company-wide program for selecting a particular target market and satisfying consumers through a careful balance of elements in the marketing mix.

According to the market share/market growth matrix, how does a successful product typically begin?

Consumers can now obtain detailed pricing information on the Internet, which has increased their bargaining power with car dealers.

As the senior vice president of marketing, Naomi will be closely involved in her firm's strategic planning.

What type of strategy do the marketing mix decisions that are MOST closely regulated and subject to public scrutiny usually relate to?

How can relationship marketing help a company?

Strategic business units (SBUs) focus the attention of company managers so they can respond effectively to changing consumer demand within limited markets.

How is the term "product" BEST described?

Which of the following is a marketing planning tool?

An example of strategic planning would be a decision by McDonald's to introduce salads to its menu.

Assume a firm would like to expand its product line.A complete expansion would cost $100 million, but the firm can raise only $75 million in financing.What is this BEST classified as?

A firm's mission statement specifies its overall goals and operational scope, as well as providing general guidelines for future management action.

According to the market share/market growth matrix, what is the SBU that produces strong cash flows that can be used to finance the growth of other SBUs?

What part of the organization should be MOST involved in formulating strategy for success of the good or service in the marketplace?

The chief executive officer (CEO) and vice president of marketing spend a greater proportion of their time on operational planning than do managers at other organizational levels.

Marketing: The Art and Science of Satisfying Customers

The Marketing Environment, Ethics, and Social Responsibility

Consumer Behaviour

Business-to-Business (B2B) Marketing

Serving Global Markets

Marketing Research, Decision Support Systems, and Sales Forecasting

Market Segmentation, Targeting, and Positioning

Product and Service Strategies

Developing and Managing Brand and Product Strategies

Marketing Channels and Supply Chain Management

Retailers Wholesalers and Direct Marketers

Integrated Marketing Communications

Advertising and Digital Communications

Personal Selling and Sales Promotion

Pricing Concepts and Strategies

TB Boone 3Ce final

Filters

Exam 2: Strategic Planning in Contemporary Marketing

Who should complete operational planning?

The planning process identifies objectives and determines which actions are needed to attain those objectives.

Each element of the marketing mix-product, price, distribution, and promotion-is a subset of the overall marketing strategy.

What type of planning would preparation of quarterly and semi-annual plans by personnel, such as the general sales manager or advertising director, be classified as?

SWOT analysis refers to examination of a firm's stability, work ethic, organizational structure, and technological expertise.

Marketing strategy is an overall company-wide program for selecting a particular target market and satisfying consumers through a careful balance of elements in the marketing mix.

According to the market share/market growth matrix, how does a successful product typically begin?

Consumers can now obtain detailed pricing information on the Internet, which has increased their bargaining power with car dealers.

As the senior vice president of marketing, Naomi will be closely involved in her firm's strategic planning.

What type of strategy do the marketing mix decisions that are MOST closely regulated and subject to public scrutiny usually relate to?

How can relationship marketing help a company?

Strategic business units (SBUs) focus the attention of company managers so they can respond effectively to changing consumer demand within limited markets.

How is the term "product" BEST described?

Which of the following is a marketing planning tool?

An example of strategic planning would be a decision by McDonald's to introduce salads to its menu.

Assume a firm would like to expand its product line.A complete expansion would cost $100 million, but the firm can raise only $75 million in financing.What is this BEST classified as?

A firm's mission statement specifies its overall goals and operational scope, as well as providing general guidelines for future management action.

According to the market share/market growth matrix, what is the SBU that produces strong cash flows that can be used to finance the growth of other SBUs?

What part of the organization should be MOST involved in formulating strategy for success of the good or service in the marketplace?

The chief executive officer (CEO) and vice president of marketing spend a greater proportion of their time on operational planning than do managers at other organizational levels.

Marketing: The Art and Science of Satisfying Customers

The Marketing Environment, Ethics, and Social Responsibility

Consumer Behaviour

Business-to-Business (B2B) Marketing

Serving Global Markets

Marketing Research, Decision Support Systems, and Sales Forecasting

Market Segmentation, Targeting, and Positioning

Product and Service Strategies

Developing and Managing Brand and Product Strategies

Marketing Channels and Supply Chain Management

Retailers Wholesalers and Direct Marketers

Integrated Marketing Communications

Advertising and Digital Communications

Personal Selling and Sales Promotion

Pricing Concepts and Strategies

TB Boone 3Ce final

Filters