Question 1

Organizational resources include the capabilities of the firm's production,marketing,finance,technology,and employees.

Accepted Answer

A) True 
 B)False

Question 2

Relationship marketing refers to a firm's effort to develop long-term,cost-effective links with individual customers and suppliers.Many companies:

Accepted Answer

A)  have been reluctant to adopt such initiatives because there is no evidence of their effectiveness. 
B)  focus on relationship marketing as the sole purpose of their marketing research efforts. 
C)  include relationship-building goals and strategies in their larger plans for the organization. 
D)  believe that relationship marketing is just a fad and may not be sustainable or profitable in the long run. 
A)  have been reluctant to adopt such initiatives because there is no evidence of their effectiveness. 
B)  focus on relationship marketing as the sole purpose of their marketing research efforts. 
C)  include relationship-building goals and strategies in their larger plans for the organization. 
D)  believe that relationship marketing is just a fad and may not be sustainable or profitable in the long run.

Question 3

Which of the following would qualify as an example of a firm's weakness?

Accepted Answer

A)  Changing buyer tastes in the marketplace 
B)  The presence of modern production facilities 
C)  Inadequate financing capabilities 
D)  An addition to the current product line 
A)  Changing buyer tastes in the marketplace 
B)  The presence of modern production facilities 
C)  Inadequate financing capabilities 
D)  An addition to the current product line

Question 4

Planning often is classified on the basis of its scope or breadth.

Accepted Answer

A) True 
 B)False

Question 5

The five dimensions of the marketing environment exert a fairly constant and static influence on marketing strategies.

Accepted Answer

A) True 
 B)False

Question 6

The five dimensions of the marketing environment are competitive,political-legal,economic,technological,and social-cultural.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is true of a strategic business unit?

Accepted Answer

A)  A strategic unit directly adopts the mission of its parent organization. 
B)  Each strategic unit depends on plans of the other units in the organization. 
C)  A strategic unit has its own managers, resources, objectives, and competitors. 
D)  A strategic unit is a key business unit within a small company that does not differ significantly from the parent company. 
A)  A strategic unit directly adopts the mission of its parent organization. 
B)  Each strategic unit depends on plans of the other units in the organization. 
C)  A strategic unit has its own managers, resources, objectives, and competitors. 
D)  A strategic unit is a key business unit within a small company that does not differ significantly from the parent company.

Question 8

Tactical plans typically determine an organization's primary strategic objectives and exclude short-term actions from their purview.

Accepted Answer

A) True 
 B)False

Question 9

Discuss pricing strategy in the marketing mix and its relevance in the changing economy.

Accepted Answer

Pricing strategy deals with the methods

Question 10

Distinguish between an organization's mission and its objectives.Provide an example of each.

Accepted Answer

An organization's mission is its essenti

Question 11

All planning strategies have the goal of creating:

Accepted Answer

A)  sustainable competitive advantage. 
B)  undifferentiated markets. 
C)  a market with no distinct segments. 
D)  barriers to market entry. 
A)  sustainable competitive advantage. 
B)  undifferentiated markets. 
C)  a market with no distinct segments. 
D)  barriers to market entry.

Question 12

Porter's Five Forces are potential new entrants,bargaining power of buyers,bargaining power of suppliers,threat of substitute products,and rivalry among competitors.

Accepted Answer

A) True 
 B)False

Question 13

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

Accepted Answer

A) True 
 B)False

Question 14

The limited occasions when the key requirements of a market and the particular competencies of a firm best fit together are referred to as:

Accepted Answer

A)  barriers to entry. 
B)  strategic windows. 
C)  question marks. 
D)  threats. 
A)  barriers to entry. 
B)  strategic windows. 
C)  question marks. 
D)  threats.

Question 15

The group of people to whom a firm directs its marketing efforts and ultimately its merchandise is known as its _____ market.

Accepted Answer

A)  undifferentiated 
B)  unsegmented 
C)  mass 
D)  target 
A)  undifferentiated 
B)  unsegmented 
C)  mass 
D)  target

Question 16

Employees of Popsie Inc.,a small grocery store chain,are working on its tactical plans.The personnel most involved in this level of its planning process would be its:

Accepted Answer

A)  top management, such as the owner. 
B)  middle management, such as the merchandising and advertising managers. 
C)  store managers. 
D)  supervisory management, such as shift managers and night auditors. 
A)  top management, such as the owner. 
B)  middle management, such as the merchandising and advertising managers. 
C)  store managers. 
D)  supervisory management, such as shift managers and night auditors.

Question 17

A certain social networking corporation has the highest number of users in the social networking industry.This is an example of the firm's:

Accepted Answer

A)  opportunity. 
B)  constraint. 
C)  strength. 
D)  threat. 
A)  opportunity. 
B)  constraint. 
C)  strength. 
D)  threat.

Question 18

_____ identifies five competitive forces that influence planning strategies.

Accepted Answer

A) planning 
B) marketing planning 
C) strategic planning 
D) tactical planning 
E) cash cows
F)first mover strategy
G)SWOT analysis
H)strategic window
I)marketing mix
J)product strategy
K)strategic business units
L)Porter's Five Forces
M)marketing strategy
N)dogs
O)stars
P)annual growth rate 
A) planning 
B) marketing planning 
C) strategic planning 
D) tactical planning 
E) cash cows
F)first mover strategy
G)SWOT analysis
H)strategic window
I)marketing mix
J)product strategy
K)strategic business units
L)Porter's Five Forces
M)marketing strategy
N)dogs
O)stars
P)annual growth rate

Question 19

The _____ is the organizational program for selecting a target market and satisfying customers in that market through the marketing mix.

Accepted Answer

A)  operational plan 
B)  marketing strategy 
C)  relationship marketing approach 
D)  short-term plan 
A)  operational plan 
B)  marketing strategy 
C)  relationship marketing approach 
D)  short-term plan

Question 20

The planning process creates a blueprint that everyone in the organization must follow in order to achieve the organizational objectives.

Accepted Answer

A) True 
 B)False

Exam 2: Strategic Planning in Contemporary Marketing

Organizational resources include the capabilities of the firm's production,marketing,finance,technology,and employees.

Relationship marketing refers to a firm's effort to develop long-term,cost-effective links with individual customers and suppliers.Many companies:

Which of the following would qualify as an example of a firm's weakness?

Planning often is classified on the basis of its scope or breadth.

The five dimensions of the marketing environment exert a fairly constant and static influence on marketing strategies.

The five dimensions of the marketing environment are competitive,political-legal,economic,technological,and social-cultural.

Which of the following is true of a strategic business unit?

Tactical plans typically determine an organization's primary strategic objectives and exclude short-term actions from their purview.

Discuss pricing strategy in the marketing mix and its relevance in the changing economy.

Distinguish between an organization's mission and its objectives.Provide an example of each.

All planning strategies have the goal of creating:

Porter's Five Forces are potential new entrants,bargaining power of buyers,bargaining power of suppliers,threat of substitute products,and rivalry among competitors.

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

The limited occasions when the key requirements of a market and the particular competencies of a firm best fit together are referred to as:

The group of people to whom a firm directs its marketing efforts and ultimately its merchandise is known as its _____ market.

Employees of Popsie Inc.,a small grocery store chain,are working on its tactical plans.The personnel most involved in this level of its planning process would be its:

A certain social networking corporation has the highest number of users in the social networking industry.This is an example of the firm's:

_____ identifies five competitive forces that influence planning strategies.

The _____ is the organizational program for selecting a target market and satisfying customers in that market through the marketing mix.

The planning process creates a blueprint that everyone in the organization must follow in order to achieve the organizational objectives.

Marketing: The Art and Science of Satisfying Customers

The Marketing Environment, Ethics, and Social Responsibility

Social Media: Living in the Connected World

E-Business: Managing the Customer Experience

Consumer Behavior

Business-to-Business (B2B)Marketing

Global Marketing

Market Segmentation, Targeting, and Positioning

Marketing Research and Sales Forecasting

Relationship Marketing and Customer Relationship Management (CRM)

Product and Service Strategies

Developing and Managing Brand and Product Categories

Marketing Channels and Supply Chain Management

Retailers, Wholesalers, and Direct Marketers

Integrated Marketing Communications, Advertising, and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Pricing Strategies

Your Career in Marketing

Developing an Effective Marketing Plan

Financial Analysis in Marketing

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