Question 1

Nonprofit organizations state objectives and form mission statements.

Accepted Answer

A) True 
 B)False

Question 2

Happy Puppy Inc.,a manufacturer of toys,makes a wide variety of toys including board games,action figures,stuffed toys,and model airplanes.Since the market for board games is a low-growth market,the company decides to draw back its products in this market.In the context of the Boston Consulting Group (BCG)analysis,the company's offering of board games is a:

Accepted Answer

A)  star. 
B)  dog. 
C)  cash cow. 
D)  question mark. 
E)  slacker. 
A)  star. 
B)  dog. 
C)  cash cow. 
D)  question mark. 
E)  slacker.

Question 3

Foodstar Corp.,a chain of restaurants,has outlets in the major residential areas of a town.It ensures that its outlets are well placed and easily accessible.It also maintains a strong Internet presence by updating the details of each day's menu on its website.Given this information,which of the following strategies is used by Foodstar to achieve sustainable competitive advantage?

Accepted Answer

A)  Locational excellence 
B)  Operational excellence 
C)  Product excellence 
D)  Customer excellence 
E)  Diversification excellence 
A)  Locational excellence 
B)  Operational excellence 
C)  Product excellence 
D)  Customer excellence 
E)  Diversification excellence

Question 4

In the context of the Boston Consulting Group (BCG)analysis,a firm whose product is a dog should:

Accepted Answer

A)  invest significant resources to improve production. 
B)  launch an intense media campaign to promote the product. 
C)  phase out the product and concentrate on other strategic business units. 
D)  start a new production facility for the product. 
E)  use its extra resources to sustain the product. 
A)  invest significant resources to improve production. 
B)  launch an intense media campaign to promote the product. 
C)  phase out the product and concentrate on other strategic business units. 
D)  start a new production facility for the product. 
E)  use its extra resources to sustain the product.

Question 5

Explain the various steps involved in developing a marketing plan.

Accepted Answer

There are five steps in developing a mar

Question 6

Denthrill Inc.is a firm that manufacturers dental products.Denthrill produces a range of products such as toothbrushes,toothpastes,and breath fresheners.These products form a:

Accepted Answer

A)  premium offering. 
B)  market mix. 
C)  promotion mix. 
D)  product line. 
E)  niche portfolio. 
A)  premium offering. 
B)  market mix. 
C)  promotion mix. 
D)  product line. 
E)  niche portfolio.

Question 7

Market positioning is the process of:

Accepted Answer

A)  attempting to change the identity of competing products in the collective minds of the target market. 
B)  defining the marketing mix variables to give target customers a distinct and desirable understanding of what a product represents. 
C)  evaluating the attractiveness of various segments and then deciding which to pursue as a market. 
D)  dividing the market into distinct groups of customers where each individual group has similar needs,wants,or characteristics. 
E)  attempting to engage customers with one another or with a company or a brand. 
A)  attempting to change the identity of competing products in the collective minds of the target market. 
B)  defining the marketing mix variables to give target customers a distinct and desirable understanding of what a product represents. 
C)  evaluating the attractiveness of various segments and then deciding which to pursue as a market. 
D)  dividing the market into distinct groups of customers where each individual group has similar needs,wants,or characteristics. 
E)  attempting to engage customers with one another or with a company or a brand.

Question 8

Which of the following overarching strategies are evident from the available description of Surge Manufacturing?

Accepted Answer

A)  Operational excellence and product excellence 
B)  Locational excellence and customer excellence 
C)  Customer excellence and positional excellence 
D)  Locational excellence and positional excellence 
E)  Positional excellence and customer excellence 
A)  Operational excellence and product excellence 
B)  Locational excellence and customer excellence 
C)  Customer excellence and positional excellence 
D)  Locational excellence and positional excellence 
E)  Positional excellence and customer excellence

Question 9

Which of the following is the best example of applying a market development strategy?

Accepted Answer

A)  G&T Leather Inc.introduces its existing offering in a different market. 
B)  Robert Technologies Inc.introduces a new product based on a modern technology. 
C)  Apparo Retail Inc.announces a discount sale to increase its revenue. 
D)  RSB Bank intensifies its advertising campaign to attract customers. 
E)  Morko Chemicals Inc.invents a new vaccine and sells it around the globe. 
A)  G&T Leather Inc.introduces its existing offering in a different market. 
B)  Robert Technologies Inc.introduces a new product based on a modern technology. 
C)  Apparo Retail Inc.announces a discount sale to increase its revenue. 
D)  RSB Bank intensifies its advertising campaign to attract customers. 
E)  Morko Chemicals Inc.invents a new vaccine and sells it around the globe.

Question 10

Operational excellence is achieved mostly by producing high-quality products.

Accepted Answer

A) True 
 B)False

Question 11

Differentiate between relative market share and market growth rate.

Accepted Answer

Relative market share is a measure of a

Question 12

Which of the following is a key difference between a market development strategy and a diversification strategy?

Accepted Answer

A)  Diversification offers products in a new market,whereas market development involves offering a product in the existing market. 
B)  Diversification occurs when a new product is offered in an existing market,whereas market development takes place when an existing product is offered in a new market. 
C)  Diversification involves the development of a new product,whereas market development uses an existing product. 
D)  Diversification involves low levels of risk,whereas market development is characterized by high levels of risk. 
E)  Diversification involves offering a product in the existing market,whereas market development offers products in a new market. 
A)  Diversification offers products in a new market,whereas market development involves offering a product in the existing market. 
B)  Diversification occurs when a new product is offered in an existing market,whereas market development takes place when an existing product is offered in a new market. 
C)  Diversification involves the development of a new product,whereas market development uses an existing product. 
D)  Diversification involves low levels of risk,whereas market development is characterized by high levels of risk. 
E)  Diversification involves offering a product in the existing market,whereas market development offers products in a new market.

Question 13

Explain portfolio analysis.

Accepted Answer

In portfolio analysis,a management evalu

Question 14

Compare and contrast strengths and opportunities that apply to businesses.

Accepted Answer

Strengths are positive attributes that a

Question 15

MM Manufacturing is a small-scale firm that manufactures optical cables.The firm's market share is significantly lower than most other players in the market.However,optical cable manufacturing is a high-growth market.Hence,the management of the company has decided to allocate more resources for the production of cables.According to the Boston Consulting Group (BCG)matrix,the company's offering is a:

Accepted Answer

A)  star. 
B)  dog. 
C)  cash cow. 
D)  question mark. 
E)  champion. 
A)  star. 
B)  dog. 
C)  cash cow. 
D)  question mark. 
E)  champion.

Question 16

As part of a study project,Rachel has to choose a firm and conduct a detailed SWOT analysis.Explain how Rachel will conduct the analysis.

Accepted Answer

Student answers will vary.A SWOT analysi

Question 17

Market penetration refers to introducing a new product in a new market.

Accepted Answer

A) True 
 B)False

Question 18

Which of the following is a weakness of an organization?

Accepted Answer

A)  Changes in demographic trends 
B)  A recession or economic downturn 
C)  An unfavourable political development 
D)  A new technology invented by a competitor 
E)  Lack of financial resources 
A)  Changes in demographic trends 
B)  A recession or economic downturn 
C)  An unfavourable political development 
D)  A new technology invented by a competitor 
E)  Lack of financial resources

Question 19

QuSoft Inc.,a manufacturer of apparels,introduces bonus points for regular customers.With this offer,regular customers are entitled to faster delivery and exclusive discounts on the company's existing products.In this scenario,the strategy applied by the company is:

Accepted Answer

A)  market diversification. 
B)  product development. 
C)  market development. 
D)  market penetration. 
E)  product diversification. 
A)  market diversification. 
B)  product development. 
C)  market development. 
D)  market penetration. 
E)  product diversification.

Question 20

Explain the four major growth strategies that organizations adopt.

Accepted Answer

The four major growth strategies are as

Nonprofit organizations state objectives and form mission statements.

In the context of the Boston Consulting Group (BCG)analysis,a firm whose product is a dog should:

Explain the various steps involved in developing a marketing plan.

Denthrill Inc.is a firm that manufacturers dental products.Denthrill produces a range of products such as toothbrushes,toothpastes,and breath fresheners.These products form a:

Market positioning is the process of:

Which of the following overarching strategies are evident from the available description of Surge Manufacturing?

Which of the following is the best example of applying a market development strategy?

Operational excellence is achieved mostly by producing high-quality products.

Differentiate between relative market share and market growth rate.

Which of the following is a key difference between a market development strategy and a diversification strategy?

Explain portfolio analysis.

Compare and contrast strengths and opportunities that apply to businesses.

As part of a study project,Rachel has to choose a firm and conduct a detailed SWOT analysis.Explain how Rachel will conduct the analysis.

Market penetration refers to introducing a new product in a new market.

Which of the following is a weakness of an organization?

QuSoft Inc.,a manufacturer of apparels,introduces bonus points for regular customers.With this offer,regular customers are entitled to faster delivery and exclusive discounts on the company's existing products.In this scenario,the strategy applied by the company is:

Explain the four major growth strategies that organizations adopt.

Overview of Marketing

Marketing Ethics

Analyzing the Market Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Developing New Products

Services: The Intangible Product

Pricing Concepts for Establishing Value

Strategic Pricing Methods

Supply Chain and Channel Management

Retailing and Multichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Filters

Exam 2: Developing Marketing Strategies and a Marketing Plan

Nonprofit organizations state objectives and form mission statements.

In the context of the Boston Consulting Group (BCG)analysis,a firm whose product is a dog should:

Explain the various steps involved in developing a marketing plan.

Denthrill Inc.is a firm that manufacturers dental products.Denthrill produces a range of products such as toothbrushes,toothpastes,and breath fresheners.These products form a:

Market positioning is the process of:

Which of the following overarching strategies are evident from the available description of Surge Manufacturing?

Which of the following is the best example of applying a market development strategy?

Operational excellence is achieved mostly by producing high-quality products.

Differentiate between relative market share and market growth rate.

Which of the following is a key difference between a market development strategy and a diversification strategy?

Explain portfolio analysis.

Compare and contrast strengths and opportunities that apply to businesses.

As part of a study project,Rachel has to choose a firm and conduct a detailed SWOT analysis.Explain how Rachel will conduct the analysis.

Market penetration refers to introducing a new product in a new market.

Which of the following is a weakness of an organization?

QuSoft Inc.,a manufacturer of apparels,introduces bonus points for regular customers.With this offer,regular customers are entitled to faster delivery and exclusive discounts on the company's existing products.In this scenario,the strategy applied by the company is:

Explain the four major growth strategies that organizations adopt.

Overview of Marketing

Marketing Ethics

Analyzing the Market Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Developing New Products

Services: The Intangible Product

Pricing Concepts for Establishing Value

Strategic Pricing Methods

Supply Chain and Channel Management

Retailing and Multichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Filters