Question 1

Relationship-building goals and strategies are seldom included in the plans of business firms.

Accepted Answer

A) True 
 B)False

Question 2

Adjustments in the mission statement of an organization reflect changing business environments and management philosophies.

Accepted Answer

A) True 
 B)False

Question 3

_____ represent units with high market shares in high-growth markets.

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 4

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 5

Describe the aspects of strategic and tactical planning.

Accepted Answer

Strategic planning is the process of det

Question 6

Matching an internal strength with an external opportunity produces a situation known as:

Accepted Answer

A)  leverage. 
B)  constraint. 
C)  vulnerability. 
D)  plateau. 
A)  leverage. 
B)  constraint. 
C)  vulnerability. 
D)  plateau.

Question 7

A _____ is the overall,companywide program for selecting a particular target market and then satisfying consumers in that market through the marketing mix.

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 8

A mission can be defined as an essential purpose that differentiates one company from others.

Accepted Answer

A) True 
 B)False

Question 9

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

Accepted Answer

A)  A bill passed by the government regarding the work timings of all organizations 
B)  A competitor planning to open a new branch close to the firm's place of operations 
C)  The firm's failure to pay its taxes on time leading to a poor reputation in the market 
D)  A ban imposed on the use of animals for testing cosmetics 
A)  A bill passed by the government regarding the work timings of all organizations 
B)  A competitor planning to open a new branch close to the firm's place of operations 
C)  The firm's failure to pay its taxes on time leading to a poor reputation in the market 
D)  A ban imposed on the use of animals for testing cosmetics

Question 10

An automobile manufacturer is dependent on a single supplier for tires.Based on this information,which of the following statements is true?

Accepted Answer

A)  The barriers to market entry are low. 
B)  The buyer has greater bargaining power. 
C)  The threat of new entrants is high. 
D)  The supplier has significant bargaining power. 
A)  The barriers to market entry are low. 
B)  The buyer has greater bargaining power. 
C)  The threat of new entrants is high. 
D)  The supplier has significant bargaining power.

Question 11

_____ is the process of anticipating future events and conditions and determining the best way to achieve organizational objectives.

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 12

Apple iTunes is an example of a successful first mover.

Accepted Answer

A) True 
 B)False

Question 13

Define marketing planning.

Accepted Answer

Marketing planning is the process of imp

Question 14

All planning strategies have the goal of creating a sustainable competitive advantage for a firm which other companies cannot imitate.

Accepted Answer

A) True 
 B)False

Question 15

Jenny has been appointed the marketing manager for Spark Cleaning Products.Her job focuses on decisions involving customer service,package design,brand names,and warranties.In this scenario,Jenny is closely associated with the _____ dimension of the marketing planning.

Accepted Answer

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

Question 16

The Internet has impacted business for new firms by increasing the barriers to market entry.

Accepted Answer

A) True 
 B)False

Question 17

An organizational objective should specify time frames stating "Our organization aims for the highest levels of sustainable development."

Accepted Answer

A) True 
 B)False

Question 18

Assume that a firm would like to expand its product line.A complete expansion would cost $100 million,but the firm can only raise $75 million in financing.This is best classified as a(n):

Accepted Answer

A)  constraint. 
B)  opportunity. 
C)  threat. 
D)  instance of leverage. 
A)  constraint. 
B)  opportunity. 
C)  threat. 
D)  instance of leverage.

Question 19

The position of an SBU along the horizontal axis indicates the annual growth rate of the market.

Accepted Answer

A) True 
 B)False

Question 20

If an automobile manufacturer was planning to introduce a sports car powered by a hydrogen-oxygen fuel cell when the price of gasoline in the United States reached $4 per gallon,this would best be described as a direct result of its _____ plan.

Accepted Answer

A)  short-term 
B)  operational 
C)  strategic 
D)  tactical 
A)  short-term 
B)  operational 
C)  strategic 
D)  tactical

Exam 2: Strategic Planning in Contemporary Marketing

Relationship-building goals and strategies are seldom included in the plans of business firms.

Adjustments in the mission statement of an organization reflect changing business environments and management philosophies.

_____ represent units with high market shares in high-growth markets.

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

Describe the aspects of strategic and tactical planning.

Matching an internal strength with an external opportunity produces a situation known as:

A _____ is the overall,companywide program for selecting a particular target market and then satisfying consumers in that market through the marketing mix.

A mission can be defined as an essential purpose that differentiates one company from others.

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

An automobile manufacturer is dependent on a single supplier for tires.Based on this information,which of the following statements is true?

_____ is the process of anticipating future events and conditions and determining the best way to achieve organizational objectives.

Apple iTunes is an example of a successful first mover.

Define marketing planning.

All planning strategies have the goal of creating a sustainable competitive advantage for a firm which other companies cannot imitate.

Jenny has been appointed the marketing manager for Spark Cleaning Products.Her job focuses on decisions involving customer service,package design,brand names,and warranties.In this scenario,Jenny is closely associated with the _____ dimension of the marketing planning.

The Internet has impacted business for new firms by increasing the barriers to market entry.

An organizational objective should specify time frames stating "Our organization aims for the highest levels of sustainable development."

Assume that a firm would like to expand its product line.A complete expansion would cost $100 million,but the firm can only raise $75 million in financing.This is best classified as a(n):

The position of an SBU along the horizontal axis indicates the annual growth rate of the market.

If an automobile manufacturer was planning to introduce a sports car powered by a hydrogen-oxygen fuel cell when the price of gasoline in the United States reached $4 per gallon,this would best be described as a direct result of its _____ plan.

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