Exam 2: Developing Marketing Strategies and a Marketing Plan

Which of the following refers to a division of a company that can be managed somewhat independently from other divisions of the company since it markets a specific set of products to a clearly defined group of customers?

Alchemistro Inc.is a firm that manufactures chemical detergents and associated products.The company decides to manufacture detergent products that cater to the needs of the high-income consumers.Which of the following best describes Alchemistro's decision to specifically cater to the high-income segment?

Which of the following observations,if made by the external agency,will indicate the company's strength?

Which of the following is an opportunity for an organization?

Which of the following is an activity in the planning phase of a marketing plan?

Which of the following observations,if made by the external agency,will indicate that the company is facing a threat?

The top managers of a firm prepare a marketing plan.They define the mission and objectives of the business and evaluate the present situation of the firm.Which of the following phases of the marketing plan includes these activities performed by the top managers?

Lego Inc.,a manufacturer of computers,has developed a brand image by delivering high-quality products at affordable prices.This image results in customers choosing Lego's products over competing products.In this case,which of the following refers to Lego's strategy of creating a distinct and desirable understanding in the minds of consumers of what its product represents?

The board of directors of an organization meets to redefine the mission and objectives of the business.They set long-term objectives and form a new mission statement.Which of the following phases of developing a marketing plan do the actions by the board of directors constitute?

In the context of a SWOT analysis,which of the following is considered an opportunity to businesses?

Which of the following is an activity in the control phase of a marketing plan?

Which of the following is true of the mission statement of a company?

Paralegal Consulting Inc.,a firm that offers legal services,decides to open new branches in rural areas.The new branches would help the firm reach out to people who cannot travel to cities and avail legal help.In this case,this decision reflects the firm's strategy regarding:

Which of the following is a measure of a product's strength in a particular market?

RON Inc.is a company that manufactures home appliances.The company has established a wide retail network to sell its products.As part of its growth strategy,the company launches a new subsidiary that manufactures office furniture.This division is expected to attract a new range of customers.In this scenario,the company applies the strategy of:

Lava Scooters Inc.manufactures electric scooters with young women as its target customers.The company manufactures vehicles that have engine displacement ranging from 50 to 100 cubic centimetres.Of late,many customers have been preferring scooters that are more powerful.To satisfy such customers,the company introduces a powerful bike that has 200-cubic centimetres engine displacement.In this scenario,Lava Scooters uses the strategy of:

An organization appoints a marketing manager to study the effectiveness of the marketing plan that it has implemented.The manager analyzes organizational performance using various metrics and gives a final report.In the context of developing a marketing plan,the organization is in the phase of:

In the Boston Consulting Group (BCG)portfolio analysis,a product that serves a low-growth market but has a high market share in the industry is a:

SleakTouch Inc.,a manufacturer of mobile phones,conducts market research to understand the market situation.The research suggests that its customers are mostly young people between the ages of 30 and 40.The company decides to focus its resources on this market segment.Given this information,the company's decision is a part of:

A table representing the elements considered in a SWOT analysis -In a SWOT analysis,which of the following is most likely to be considered as the strength of a fast-food chain?