Question 1

WestJet Airlines has one of the lowest levels of operating expenses in the airline industry.In a SWOT analysis, what is this classified as?

Accepted Answer

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

Question 2

Marketers seek to rid themselves of their cash cows because those products hold low market shares of low-growth markets.

Accepted Answer

A) True 
 B)False

Question 3

Using the market share/market growth approach to portfolio performance analysis, dogs are SBUs that promise poor future prospects and provide excellent candidates for abandonment at the earliest feasible moment.

Accepted Answer

A) True 
 B)False

Question 4

Jenny has been appointed marketing manager for Sparkling Cleaning Products.Her job focuses on decisions involving customer service, package design, brand names, and warranties.What area of the marketing strategy will Jenny MOST likely work in?

Accepted Answer

A)  product strategy 
B)  resource valuation and pricing 
C)  retailing and distribution strategy 
D)  target market development 
A)  product strategy 
B)  resource valuation and pricing 
C)  retailing and distribution strategy 
D)  target market development

Question 5

What are the basic objectives or goals of an organization derived from?

Accepted Answer

A)  its strategic plan 
B)  its tactical plan 
C)  its corporate strategy 
D)  its mission statement 
A)  its strategic plan 
B)  its tactical plan 
C)  its corporate strategy 
D)  its mission statement

Question 6

Tactical planning usually involves production of quarterly and semi-annual plans, along with divisional budgets, policies, and procedures.

Accepted Answer

A) True 
 B)False

Question 7

A drapery manufacturer has experienced difficulty attracting customers to its showroom.Competitors are advertising online with discounts and free installation, and the company's sole supplier of silks and tapestries has increased prices.Additionally, competitive draperies made overseas with cheaper silks are entering the marketplace.The drapery manufacturer is faced with a planning challenge addressed in Porter's Five Forces.

Accepted Answer

A) True 
 B)False

Question 8

In a SWOT analysis, when is a constraint present?

Accepted Answer

A)  when internal organizational weaknesses prevent taking advantage of an opportunity 
B)  when environmental threats attack organizational weaknesses 
C)  when organizational weaknesses are effectively addressed 
D)  when environmental threats are stronger than organizational strengths 
A)  when internal organizational weaknesses prevent taking advantage of an opportunity 
B)  when environmental threats attack organizational weaknesses 
C)  when organizational weaknesses are effectively addressed 
D)  when environmental threats are stronger than organizational strengths

Question 9

To evaluate an organization's SBUs, the Boston Consulting Group developed a portfolio performance framework.How did they characterize some of the SBUs?

Accepted Answer

A)  as question marks 
B)  as quick winners 
C)  as charging bulls 
D)  as cash-outs 
A)  as question marks 
B)  as quick winners 
C)  as charging bulls 
D)  as cash-outs

Question 10

Comparing a first mover to a second mover strategy, which of the following describes a first mover strategy?

Accepted Answer

A)  It is more risky but offers higher reward. 
B)  It is more risky and offers lower reward. 
C)  It is less risky and offers higher reward. 
D)  It is less risky but offers lower reward. 
A)  It is more risky but offers higher reward. 
B)  It is more risky and offers lower reward. 
C)  It is less risky and offers higher reward. 
D)  It is less risky but offers lower reward.

Question 11

What does each strategic business unit (SBU) within a firm have?

Accepted Answer

A)  an advertising consultant 
B)  a government "watch dog" agency 
C)  a board of directors 
D)  competitors 
A)  an advertising consultant 
B)  a government "watch dog" agency 
C)  a board of directors 
D)  competitors

Question 12

Which of the following is a result of tactical planning?

Accepted Answer

A)  a total budget 
B)  long-term plans 
C)  divisional budgets 
D)  departmental rules 
A)  a total budget 
B)  long-term plans 
C)  divisional budgets 
D)  departmental rules

Question 13

What is the process of anticipating future events and conditions and determining the BEST way to achieve organizational objectives called?

Accepted Answer

A)  researching 
B)  planning 
C)  controlling 
D)  managing 
A)  researching 
B)  planning 
C)  controlling 
D)  managing

Question 14

What is the overall, company-wide program that selects a particular target market and then satisfies consumers in that market through careful blending of the elements of the marketing mix called?

Accepted Answer

A)  a corporate strategy 
B)  a strategic plan 
C)  a strategic window 
D)  a marketing strategy 
A)  a corporate strategy 
B)  a strategic plan 
C)  a strategic window 
D)  a marketing strategy

Question 15

An important strategic planning tool, SWOT analysis helps planners compare internal organizational strengths and weaknesses with external opportunities and threats.

Accepted Answer

A) True 
 B)False

Question 16

In SWOT analysis, what are situations in which organizations are unable to capitalize on opportunities because of internal limitations referred to as?

Accepted Answer

A)  strategic windows 
B)  strategic leverage 
C)  constraints 
D)  vulnerability 
A)  strategic windows 
B)  strategic leverage 
C)  constraints 
D)  vulnerability

Question 17

Initially, cellphones had no limiters as to the regions that could be dialed or the number of different phone numbers that could be dialed.Based on this, many parents would not purchase a phone for their younger children.Next, cellphone manufacturers created phones and plans that limited the number of phone numbers programmed into the phone and no other numbers could be dialed.Only local calling would be available.Which of the following BEST describes the strategic growth opportunity that is being used?

Accepted Answer

A)  Product development 
B)  Diversification 
C)  Market penetration 
D)  Market development 
A)  Product development 
B)  Diversification 
C)  Market penetration 
D)  Market development

Question 18

To be most effective, the planning process should include input from a wide range of sources both internal and external to the organization.

Accepted Answer

A) True 
 B)False

Question 19

The planning process begins at the corporate level with the development of objectives.

Accepted Answer

A) True 
 B)False

Question 20

What does marketing planning establish?

Accepted Answer

A)  the resource base provided by the firm's strategy 
B)  the economic impact of additional sales 
C)  the tactical plans that must be implemented by the entire organization 
D)  the basis for attaining marketing objectives 
A)  the resource base provided by the firm's strategy 
B)  the economic impact of additional sales 
C)  the tactical plans that must be implemented by the entire organization 
D)  the basis for attaining marketing objectives

WestJet Airlines has one of the lowest levels of operating expenses in the airline industry.In a SWOT analysis, what is this classified as?

Marketers seek to rid themselves of their cash cows because those products hold low market shares of low-growth markets.

Using the market share/market growth approach to portfolio performance analysis, dogs are SBUs that promise poor future prospects and provide excellent candidates for abandonment at the earliest feasible moment.

Jenny has been appointed marketing manager for Sparkling Cleaning Products.Her job focuses on decisions involving customer service, package design, brand names, and warranties.What area of the marketing strategy will Jenny MOST likely work in?

What are the basic objectives or goals of an organization derived from?

Tactical planning usually involves production of quarterly and semi-annual plans, along with divisional budgets, policies, and procedures.

In a SWOT analysis, when is a constraint present?

To evaluate an organization's SBUs, the Boston Consulting Group developed a portfolio performance framework.How did they characterize some of the SBUs?

Comparing a first mover to a second mover strategy, which of the following describes a first mover strategy?

What does each strategic business unit (SBU) within a firm have?

Which of the following is a result of tactical planning?

What is the process of anticipating future events and conditions and determining the BEST way to achieve organizational objectives called?

What is the overall, company-wide program that selects a particular target market and then satisfies consumers in that market through careful blending of the elements of the marketing mix called?

An important strategic planning tool, SWOT analysis helps planners compare internal organizational strengths and weaknesses with external opportunities and threats.

In SWOT analysis, what are situations in which organizations are unable to capitalize on opportunities because of internal limitations referred to as?

To be most effective, the planning process should include input from a wide range of sources both internal and external to the organization.

The planning process begins at the corporate level with the development of objectives.

What does marketing planning establish?

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

WestJet Airlines has one of the lowest levels of operating expenses in the airline industry.In a SWOT analysis, what is this classified as?

Marketers seek to rid themselves of their cash cows because those products hold low market shares of low-growth markets.

Using the market share/market growth approach to portfolio performance analysis, dogs are SBUs that promise poor future prospects and provide excellent candidates for abandonment at the earliest feasible moment.

Jenny has been appointed marketing manager for Sparkling Cleaning Products.Her job focuses on decisions involving customer service, package design, brand names, and warranties.What area of the marketing strategy will Jenny MOST likely work in?

What are the basic objectives or goals of an organization derived from?

Tactical planning usually involves production of quarterly and semi-annual plans, along with divisional budgets, policies, and procedures.

In a SWOT analysis, when is a constraint present?

To evaluate an organization's SBUs, the Boston Consulting Group developed a portfolio performance framework.How did they characterize some of the SBUs?

Comparing a first mover to a second mover strategy, which of the following describes a first mover strategy?

What does each strategic business unit (SBU) within a firm have?

Which of the following is a result of tactical planning?

What is the process of anticipating future events and conditions and determining the BEST way to achieve organizational objectives called?

What is the overall, company-wide program that selects a particular target market and then satisfies consumers in that market through careful blending of the elements of the marketing mix called?

An important strategic planning tool, SWOT analysis helps planners compare internal organizational strengths and weaknesses with external opportunities and threats.

In SWOT analysis, what are situations in which organizations are unable to capitalize on opportunities because of internal limitations referred to as?

To be most effective, the planning process should include input from a wide range of sources both internal and external to the organization.

The planning process begins at the corporate level with the development of objectives.

What does marketing planning establish?

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