Question 1

During which phase of the marketing planning process does a firm engage in segmentation,targeting,and positioning?

Accepted Answer

A)  planning phase 
B)  implementation phase 
C)  identify and evaluate opportunities phase 
D)  control phase 
E)  strategy phase 
A)  planning phase 
B)  implementation phase 
C)  identify and evaluate opportunities phase 
D)  control phase 
E)  strategy phase C

Question 2

Nike,the prominent athletic shoe manufacturer,relies heavily on athlete sponsorships to build demand for its products.Spectators at major sporting events-both those attending in person and those watching at home-frequently see the Nike "swoosh" logo worn by elite athletes.Given the vast worldwide audience for Olympics broadcasts,an Olympic year gives Nike increased exposure.On a Nike situation analysis in an Olympic year,would you consider this exposure to be a strength or an opportunity? Explain your reasoning; be specific.

Accepted Answer

A reasonable argument can be made for this being a strength or an opportunity,so this is about the rationale offered.This could be viewed as a strength in that Nike's logo is ubiquitous and well recognized,and customers in Nike's target markets will be reminded of the many sports for which Nike offers shoes and apparel.It could also be viewed as an opportunity to strengthen Nike's position overseas (due to international viewership)and to increase awareness of the breadth of Nike's products (due to increased viewership of niche sports that ordinarily don't get much attention).

Question 3

Heather has been assessing several of her firm's products using the Boston Consulting Group (BCG)approach to portfolio analysis.She has been trying to assess the strength in a particular market and is looking at the sales of the product and the overall market as well as the sales of competitors.Heather is trying to determine

Accepted Answer

A)  the product's relative market share. 
B)  the market growth rate. 
C)  a source of competitive advantage. 
D)  the impact of population shifts on future demand. 
E)  cash equivalent values for each product. 
A)  the product's relative market share. 
B)  the market growth rate. 
C)  a source of competitive advantage. 
D)  the impact of population shifts on future demand. 
E)  cash equivalent values for each product. A

Question 4

H&R is a small,local heating and air conditioning business.The local military base is a potential source of growth,and H&R already installs and services the type of equipment the military would require,but it is difficult to get established as a certified government contractor.H&R is considering a ____________ growth strategy.

Accepted Answer

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

Question 5

For many years,Southwest Airlines distinguished itself as the low-cost airline.Now,many other low-cost competitors have entered the market.Similarly,Southwest was one of the first airlines to offer online ticketing.Now,all airlines have online ticketing.These examples suggest that

Accepted Answer

A)  no single strategy is likely to be sufficient to build a sustainable competitive advantage. 
B)  a situation analysis does not accurately predict a firm's strengths. 
C)  customer excellence cannot be achieved. 
D)  product excellence is the only true source of a sustainable competitive advantage. 
E)  innovation is pointless because competitors will develop copycat offerings. 
A)  no single strategy is likely to be sufficient to build a sustainable competitive advantage. 
B)  a situation analysis does not accurately predict a firm's strengths. 
C)  customer excellence cannot be achieved. 
D)  product excellence is the only true source of a sustainable competitive advantage. 
E)  innovation is pointless because competitors will develop copycat offerings.

Question 6

Duke's is a surfer-themed restaurant chain in Hawaii.Most of its customers are tourists.In a SWOT analysis for Duke's,the possibility that the recession might cut back on tourism in Hawaii would be considered a weakness.

Accepted Answer

A) True 
 B)False

Question 7

Using the BCG portfolio analysis,a "dog" should be phased out unless

Accepted Answer

A)  its marketing manager is a champion of the product. 
B)  additional resources could increase its relative market share slightly. 
C)  it complements or boosts the sales of another product. 
D)  the market has a small chance of rebounding. 
E)  none of these. Dogs should be phased out. 
A)  its marketing manager is a champion of the product. 
B)  additional resources could increase its relative market share slightly. 
C)  it complements or boosts the sales of another product. 
D)  the market has a small chance of rebounding. 
E)  none of these. Dogs should be phased out.

Question 8

In 2006,Walmart announced that it would begin selling organic food products.In doing so,Walmart was most likely trying to

Accepted Answer

A)  gain government subsidies. 
B)  attract a different market segment. 
C)  reduce its costs. 
D)  save the environment. 
E)  offset cost-based pricing pressure. 
A)  gain government subsidies. 
B)  attract a different market segment. 
C)  reduce its costs. 
D)  save the environment. 
E)  offset cost-based pricing pressure.

Question 9

You and your friend Alison work in different parts of a large firm.In a recent analysis,your area was labeled a "cash cow" and hers was labeled a "question mark." What things would you do differently in your area than Alison would do in hers?

Accepted Answer

There are many possible answers,but stud

Question 10

Isaac is looking for ways to offer new goods and services to his existing customers.He is pursuing a market development strategy.

Accepted Answer

A) True 
 B)False

Question 11

A product that is in a high-growth market but has a low market share would be classified as a ________ on the BCG matrix.

Accepted Answer

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

Question 12

iTunes software is often credited with the success of the Apple iPod MP3 player,because it made the iPod easier to use than competing players,and was difficult for competitors to duplicate.This is an example of a sustainable competitive advantage.

Accepted Answer

A) True 
 B)False

Question 13

Gerald's Tire Store sets itself apart from competitors by the extra attention it pays to retaining loyal customers by providing fast,courteous service in a clean,professional-looking environment.Gerald's has used this strategy for over 40 years,expanding to 15 outlets.Gerald's Tire Store has created a ___________ macro strategy to create and deliver value and to develop a sustainable competitive advantage.

Accepted Answer

A)  supply chain excellence 
B)  locational excellence 
C)  product excellence 
D)  diversification excellence 
E)  customer excellence 
A)  supply chain excellence 
B)  locational excellence 
C)  product excellence 
D)  diversification excellence 
E)  customer excellence

Question 14

Which of the following is not one of the four major growth strategies marketers typically utilize?

Accepted Answer

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

Question 15

Zara is a women's clothing retailer headquartered in Spain,with stores located in many countries.Zara has developed a "quick response" system that allows store merchandise to be adjusted rapidly to fit changing customer preferences.Every aspect of Zara's operation is optimized for this system,making it difficult for competitors like The Gap to duplicate.Zara has established

Accepted Answer

A)  customer loyalty. 
B)  locational excellence. 
C)  a diversification growth strategy. 
D)  a sustainable competitive advantage. 
E)  a related diversification opportunity. 
A)  customer loyalty. 
B)  locational excellence. 
C)  a diversification growth strategy. 
D)  a sustainable competitive advantage. 
E)  a related diversification opportunity.

Question 16

Several years ago,the Florida Orange Juice Growers Association ran a promotional campaign with the slogan "Orange juice.It isn't just for breakfast anymore." Based on this slogan,which of the four growth strategies was the association pursuing? Briefly explain your reasoning.

Accepted Answer

The best answer is that this is a market

Question 17

Which of the following actions would be the most likely to support and enhance an operational excellence macro strategy?

Accepted Answer

A)  Singapore Airlines installing more comfortable seats in the economy-class cabins of its airplanes 
B)  3M Corporation implementing new software to improve communication with its suppliers 
C)  Adidas inviting customer suggestions to guide the design of the next generation of shoes 
D)  Nike opening hundreds of new company stores in high-traffic shopping areas 
E)  McDonald's lowering prices on its coffee drinks 
A)  Singapore Airlines installing more comfortable seats in the economy-class cabins of its airplanes 
B)  3M Corporation implementing new software to improve communication with its suppliers 
C)  Adidas inviting customer suggestions to guide the design of the next generation of shoes 
D)  Nike opening hundreds of new company stores in high-traffic shopping areas 
E)  McDonald's lowering prices on its coffee drinks

Question 18

Your new sales manager,who previously worked for Boston Consulting Group,directs each sales rep to "toss out the dogs," "exploit the stars," and "milk the cows." Translate this into everyday English: What is the sales manager asking the sales reps to do?

Accepted Answer

Your sales manager wants you to stop sel

Question 19

Delta Airlines is among the companies experimenting with selling products and services on their Facebook pages.The idea is to make purchasing even easier for customers who may spend large portions of the day with Facebook active on their computers or mobile devices.There is no need even to navigate to Delta's website-users can book a trip in Delta's "Ticket Agent" application without ever leaving Facebook.Which element of the marketing mix does this represent?

Accepted Answer

A)  product and value creation 
B)  price and value capture 
C)  place and value delivery 
D)  promotion and value communication 
E)  positioning and value promotion 
A)  product and value creation 
B)  price and value capture 
C)  place and value delivery 
D)  promotion and value communication 
E)  positioning and value promotion

Question 20

The idea of value-based marketing requires firms to charge a price that

Accepted Answer

A)  covers costs and generates a modest profit. 
B)  includes the value of the effort the firm put into the product or service. 
C)  captures the value customers perceive that they are receiving. 
D)  prioritizes customer excellence above operational excellence. 
E)  matches competitors' prices. 
A)  covers costs and generates a modest profit. 
B)  includes the value of the effort the firm put into the product or service. 
C)  captures the value customers perceive that they are receiving. 
D)  prioritizes customer excellence above operational excellence. 
E)  matches competitors' prices.

During which phase of the marketing planning process does a firm engage in segmentation,targeting,and positioning?

For many years,Southwest Airlines distinguished itself as the low-cost airline.Now,many other low-cost competitors have entered the market.Similarly,Southwest was one of the first airlines to offer online ticketing.Now,all airlines have online ticketing.These examples suggest that

Duke's is a surfer-themed restaurant chain in Hawaii.Most of its customers are tourists.In a SWOT analysis for Duke's,the possibility that the recession might cut back on tourism in Hawaii would be considered a weakness.

Using the BCG portfolio analysis,a "dog" should be phased out unless

In 2006,Walmart announced that it would begin selling organic food products.In doing so,Walmart was most likely trying to

You and your friend Alison work in different parts of a large firm.In a recent analysis,your area was labeled a "cash cow" and hers was labeled a "question mark." What things would you do differently in your area than Alison would do in hers?

Isaac is looking for ways to offer new goods and services to his existing customers.He is pursuing a market development strategy.

A product that is in a high-growth market but has a low market share would be classified as a ________ on the BCG matrix.

iTunes software is often credited with the success of the Apple iPod MP3 player,because it made the iPod easier to use than competing players,and was difficult for competitors to duplicate.This is an example of a sustainable competitive advantage.

Which of the following is not one of the four major growth strategies marketers typically utilize?

Several years ago,the Florida Orange Juice Growers Association ran a promotional campaign with the slogan "Orange juice.It isn't just for breakfast anymore." Based on this slogan,which of the four growth strategies was the association pursuing? Briefly explain your reasoning.

Which of the following actions would be the most likely to support and enhance an operational excellence macro strategy?

Your new sales manager,who previously worked for Boston Consulting Group,directs each sales rep to "toss out the dogs," "exploit the stars," and "milk the cows." Translate this into everyday English: What is the sales manager asking the sales reps to do?

The idea of value-based marketing requires firms to charge a price that

Overview of Marketing

Conscious Marketing,corporate Social Responsibility,and Ethics

Analyzing the Marketing 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

Supply Chain and Channel Management

Supply Chain and Channel Management

Retailing and Omnichannel Marketing

Integrated Marketing Communications

Advertising,public Relations,and Sales Promotions

Personal Selling and Sales Management

Filters

Exam 2: Developing Marketing Strategies and a Marketing Plan

During which phase of the marketing planning process does a firm engage in segmentation,targeting,and positioning?

For many years,Southwest Airlines distinguished itself as the low-cost airline.Now,many other low-cost competitors have entered the market.Similarly,Southwest was one of the first airlines to offer online ticketing.Now,all airlines have online ticketing.These examples suggest that

Duke's is a surfer-themed restaurant chain in Hawaii.Most of its customers are tourists.In a SWOT analysis for Duke's,the possibility that the recession might cut back on tourism in Hawaii would be considered a weakness.

Using the BCG portfolio analysis,a "dog" should be phased out unless

In 2006,Walmart announced that it would begin selling organic food products.In doing so,Walmart was most likely trying to

You and your friend Alison work in different parts of a large firm.In a recent analysis,your area was labeled a "cash cow" and hers was labeled a "question mark." What things would you do differently in your area than Alison would do in hers?

Isaac is looking for ways to offer new goods and services to his existing customers.He is pursuing a market development strategy.

A product that is in a high-growth market but has a low market share would be classified as a ________ on the BCG matrix.

iTunes software is often credited with the success of the Apple iPod MP3 player,because it made the iPod easier to use than competing players,and was difficult for competitors to duplicate.This is an example of a sustainable competitive advantage.

Which of the following is not one of the four major growth strategies marketers typically utilize?

Several years ago,the Florida Orange Juice Growers Association ran a promotional campaign with the slogan "Orange juice.It isn't just for breakfast anymore." Based on this slogan,which of the four growth strategies was the association pursuing? Briefly explain your reasoning.

Which of the following actions would be the most likely to support and enhance an operational excellence macro strategy?

Your new sales manager,who previously worked for Boston Consulting Group,directs each sales rep to "toss out the dogs," "exploit the stars," and "milk the cows." Translate this into everyday English: What is the sales manager asking the sales reps to do?

The idea of value-based marketing requires firms to charge a price that

Overview of Marketing

Conscious Marketing,corporate Social Responsibility,and Ethics

Analyzing the Marketing 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

Supply Chain and Channel Management

Supply Chain and Channel Management

Retailing and Omnichannel Marketing

Integrated Marketing Communications

Advertising,public Relations,and Sales Promotions

Personal Selling and Sales Management

Filters