Question 1

Describe the basic elements of a marketing strategy.

Accepted Answer

Success for a product in the marketplace

Question 2

Good relationships with customers can equip a firm with vital strategic weapons.

Accepted Answer

A) True 
 B)False

Question 3

Define SWOT analysis and explain its importance.

Accepted Answer

SWOT analysis is an important strategic

Question 4

Decisions relating to the product strategy primarily revolve around _____.

Accepted Answer

A)  the promotional offers that would increase the visibility of the product in the market 
B)  the features of the products being released in the market 
C)  the choice of high/low or everyday low pricing by the company 
D)  the selection of wholesalers and retailers to transport the stock to the market 
A)  the promotional offers that would increase the visibility of the product in the market 
B)  the features of the products being released in the market 
C)  the choice of high/low or everyday low pricing by the company 
D)  the selection of wholesalers and retailers to transport the stock to the market

Question 5

Atari,a consumer electronics and video games company,observed the innovations of Nintendo Co.,the most powerful video game company at that time,and destroyed the market share of Nintendo eventually.This implies that Atari:

Accepted Answer

A)  followed a first-mover strategy. 
B)  created a new product indigenously. 
C)  remained uninfluenced by Nintendo. 
D)  applied a second-mover strategy. 
A)  followed a first-mover strategy. 
B)  created a new product indigenously. 
C)  remained uninfluenced by Nintendo. 
D)  applied a second-mover strategy.

Question 6

Describe the structure and dynamics of Porter's Five Forces model.How has the Internet affected the operation of this model?

Accepted Answer

Michael E.Porter identified five competi

Question 7

The rule of three states that the three leading firms in an industry will control _____ percent of the market.

Accepted Answer

A)  less than 25 
B)  less than 50 
C)  between 70 and 90 
D)  100 
A)  less than 25 
B)  less than 50 
C)  between 70 and 90 
D)  100

Question 8

According to the BCG market share/market growth matrix,_____ typically require more cash than they generate.

Accepted Answer

A)  cash cows 
B)  stars 
C)  question marks 
D)  achievers 
A)  cash cows 
B)  stars 
C)  question marks 
D)  achievers

Question 9

A bill passed by the government stipulates the mandatory use of revised engine mapping and particulate filters in the automobile industry.Which of the following factors of the marketing environment has affected the automobile industry in this scenario?

Accepted Answer

A)  competitive 
B)  political-legal 
C)  economic 
D)  social-cultural 
A)  competitive 
B)  political-legal 
C)  economic 
D)  social-cultural

Question 10

Relationship marketing can help a company:

Accepted Answer

A)  create long-term and cost-effective links with individual customers and suppliers for mutual benefit. 
B)  reduce its strategic planning effort since the need for such planning is greatly diminished by relationship marketing. 
C)  locate more effective media for use in advertising and mass marketing. 
D)  eliminate the strategic planning process and move into tactical plans directly. 
A)  create long-term and cost-effective links with individual customers and suppliers for mutual benefit. 
B)  reduce its strategic planning effort since the need for such planning is greatly diminished by relationship marketing. 
C)  locate more effective media for use in advertising and mass marketing. 
D)  eliminate the strategic planning process and move into tactical plans directly.

Question 11

Each SBU pursues its own distinct mission and often develops its own plans independently.

Accepted Answer

A) True 
 B)False

Question 12

According to the BCG matrix,stars require considerable inflows of cash to finance further growth.

Accepted Answer

A) True 
 B)False

Question 13

Strategic business units are key business units within small companies that offer only a few items to its customers.

Accepted Answer

A) True 
 B)False

Question 14

A shoe manufacturer has multiple suppliers for leather.Based on this information,which of the following statements is true?

Accepted Answer

A)  The suppliers have lesser bargaining than the buyer. 
B)  The barriers to market entry are high. 
C)  The rivalry among competitors is low. 
D)  The buyer has lesser bargaining power than the suppliers. 
A)  The suppliers have lesser bargaining than the buyer. 
B)  The barriers to market entry are high. 
C)  The rivalry among competitors is low. 
D)  The buyer has lesser bargaining power than the suppliers.

Question 15

Marketing planning establishes the basis for a firm's overall strategic plan.

Accepted Answer

A) True 
 B)False

Question 16

ADA Inc.stopped its production of oral care goods after determining apparel production to be its new primary objective.This is a direct result of the _____ planning process at ADA Inc.

Accepted Answer

A)  tactical 
B)  research 
C)  strategic 
D)  economic 
A)  tactical 
B)  research 
C)  strategic 
D)  economic

Question 17

Explain the forces that influence the rivalry among competitors in Porter's Five Forces Model.

Accepted Answer

The four forces of Porter Five Forces Mo

Question 18

The planning process is an intermittent process held after substantial intervals.

Accepted Answer

A) True 
 B)False

Question 19

Toyota's introduction of the hybrid-powered Prius is an example of how it has turned public concerns and legal issues about the natural environment into an opportunity.

Accepted Answer

A) True 
 B)False

Question 20

What is a marketing strategy? Explain the process of implementing the marketing strategy into action.

Accepted Answer

A marketing strategy is an overall,compa

Exam 2: Strategic Planning in Contemporary Marketing

Describe the basic elements of a marketing strategy.

Good relationships with customers can equip a firm with vital strategic weapons.

Define SWOT analysis and explain its importance.

Decisions relating to the product strategy primarily revolve around _____.

Atari,a consumer electronics and video games company,observed the innovations of Nintendo Co.,the most powerful video game company at that time,and destroyed the market share of Nintendo eventually.This implies that Atari:

Describe the structure and dynamics of Porter's Five Forces model.How has the Internet affected the operation of this model?

The rule of three states that the three leading firms in an industry will control _____ percent of the market.

According to the BCG market share/market growth matrix,_____ typically require more cash than they generate.

A bill passed by the government stipulates the mandatory use of revised engine mapping and particulate filters in the automobile industry.Which of the following factors of the marketing environment has affected the automobile industry in this scenario?

Relationship marketing can help a company:

Each SBU pursues its own distinct mission and often develops its own plans independently.

According to the BCG matrix,stars require considerable inflows of cash to finance further growth.

Strategic business units are key business units within small companies that offer only a few items to its customers.

A shoe manufacturer has multiple suppliers for leather.Based on this information,which of the following statements is true?

Marketing planning establishes the basis for a firm's overall strategic plan.

ADA Inc.stopped its production of oral care goods after determining apparel production to be its new primary objective.This is a direct result of the _____ planning process at ADA Inc.

Explain the forces that influence the rivalry among competitors in Porter's Five Forces Model.

The planning process is an intermittent process held after substantial intervals.

Toyota's introduction of the hybrid-powered Prius is an example of how it has turned public concerns and legal issues about the natural environment into an opportunity.

What is a marketing strategy? Explain the process of implementing the marketing strategy into action.

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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