Question 1

Middle and supervisory-level managers spend less time as compared to CEOs on planning activities.

Accepted Answer

A) True 
 B)False

Question 2

A company's plans that focus largely on its current and near-future activities and are determined by its middle level management are referred to as _____ plans.

Accepted Answer

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

Question 3

The chief executive officer (CEO)and vice president of marketing spend a greater proportion of their time on operational planning than do managers at all other organizational levels.

Accepted Answer

A) True 
 B)False

Question 4

Compared to other organization personnel,more time is devoted to long-range strategic planning by the:

Accepted Answer

A) middle management. 
B) manufacturing labor. 
C) top management. 
D) supervisory management. 
A) middle management. 
B) manufacturing labor. 
C) top management. 
D) supervisory management.

Question 5

Which of the following statements is indicative of a second mover strategy?

Accepted Answer

A) Entering new markets with existing products 
B) Making significant innovations that turn old products into new ones 
C) Observing closely the innovations of first movers and then improving on them 
D) Entering new markets with new products before any other entrants 
A) Entering new markets with existing products 
B) Making significant innovations that turn old products into new ones 
C) Observing closely the innovations of first movers and then improving on them 
D) Entering new markets with new products before any other entrants

Question 6

Marketers put the marketing strategy into action in order to monitor performance to ensure that objectives are being achieved.

Accepted Answer

A) True 
 B)False

Question 7

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 8

The performance framework developed by the Boston Consulting Group (BCG)plots:

Accepted Answer

A) market share against market growth potential. 
B) market attractiveness against number of product lines. 
C) current market conditions against past trends. 
D) performance in test markets before a full-scale rollout. 
A) market share against market growth potential. 
B) market attractiveness against number of product lines. 
C) current market conditions against past trends. 
D) performance in test markets before a full-scale rollout.

Question 9

A company can modify a strategy when its actual performance is not in line with expected results by:

Accepted Answer

A) redefining the firm's mission. 
B) focusing exclusively on long-range strategic issues. 
C) putting the marketing strategy into action and monitoring performance. 
D) interpreting the mission, vision, and values of the company differently. 
A) redefining the firm's mission. 
B) focusing exclusively on long-range strategic issues. 
C) putting the marketing strategy into action and monitoring performance. 
D) interpreting the mission, vision, and values of the company differently.

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A) Changing buyer tastes in the marketplace 
B) The presence of modern production facilities 
C) Inadequate financing capabilities 
D) An addition to the current product line 
A) Changing buyer tastes in the marketplace 
B) The presence of modern production facilities 
C) Inadequate financing capabilities 
D) An addition to the current product line

Question 12

After working as an analyst in the marketing department of a large consumer products firm,you have been promoted to marketing team lead for the company's leisure products line.In your new role,you will be responsible for the following major functional areas related to this product line: ​Inventory control
Order processing
Warehousing
Logistics
Within the context of the marketing mix,your responsibilities are primarily focused on

Accepted Answer

A) ​Product strategy 
B) ​Promotion strategy 
C) ​Retail strategy 
D) ​Distribution strategy 
E) ​Customer service strategy 
A) ​Product strategy 
B) ​Promotion strategy 
C) ​Retail strategy 
D) ​Distribution strategy 
E) ​Customer service strategy

Question 13

An example of a threat to a firm discovered by a SWOT analysis might be:

Accepted Answer

A) the presence of cost advantages due to advanced technology. 
B) the chance to acquire firms with the needed technology. 
C) the entry of new competitors in the industry. 
D) the narrow product line produced by the firm. 
A) the presence of cost advantages due to advanced technology. 
B) the chance to acquire firms with the needed technology. 
C) the entry of new competitors in the industry. 
D) the narrow product line produced by the firm.

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

​With respect to the BCG matrix,which one of the following generates considerable income,but requires sizeable investments to underwrite further growth in the future?

Accepted Answer

A) ​Cash cows 
B) ​Stars 
C) ​Question marks 
D) ​SBUs 
E) ​Dogs 
A) ​Cash cows 
B) ​Stars 
C) ​Question marks 
D) ​SBUs 
E) ​Dogs

Question 16

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 17

How does planning differ at various levels of organizational management?

Accepted Answer

a)Top managers spend greater proportions

Question 18

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 19

An organization lays out its basic objectives,or goals,in its complete mission statement.

Accepted Answer

A) True 
 B)False

Question 20

Marketing strategy is an overall company-wide program for selecting a particular target market and satisfying consumers through a careful blend of the elements of the marketing mix.

Accepted Answer

A) True 
 B)False

Middle and supervisory-level managers spend less time as compared to CEOs on planning activities.

A company's plans that focus largely on its current and near-future activities and are determined by its middle level management are referred to as _____ plans.

The chief executive officer (CEO)and vice president of marketing spend a greater proportion of their time on operational planning than do managers at all other organizational levels.

Compared to other organization personnel,more time is devoted to long-range strategic planning by the:

Which of the following statements is indicative of a second mover strategy?

Marketers put the marketing strategy into action in order to monitor performance to ensure that objectives are being achieved.

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:

The performance framework developed by the Boston Consulting Group (BCG)plots:

A company can modify a strategy when its actual performance is not in line with expected results by:

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

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

An example of a threat to a firm discovered by a SWOT analysis might be:

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

With respect to the BCG matrix,which one of the following generates considerable income,but requires sizeable investments to underwrite further growth in the future?

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

How does planning differ at various levels of organizational management?

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

An organization lays out its basic objectives,or goals,in its complete mission statement.

Marketing strategy is an overall company-wide program for selecting a particular target market and satisfying consumers through a careful blend of the elements of the marketing mix.

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 B2bmarketing

Global Marketing

Market Segmentation, targeting, and Positioning

Marketing Research in the Era of Big Data

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

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters

Exam 2: Strategic Planning in Contemporary Marketing

Middle and supervisory-level managers spend less time as compared to CEOs on planning activities.

A company's plans that focus largely on its current and near-future activities and are determined by its middle level management are referred to as _____ plans.

The chief executive officer (CEO)and vice president of marketing spend a greater proportion of their time on operational planning than do managers at all other organizational levels.

Compared to other organization personnel,more time is devoted to long-range strategic planning by the:

Which of the following statements is indicative of a second mover strategy?

Marketers put the marketing strategy into action in order to monitor performance to ensure that objectives are being achieved.

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:

The performance framework developed by the Boston Consulting Group (BCG)plots:

A company can modify a strategy when its actual performance is not in line with expected results by:

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

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

An example of a threat to a firm discovered by a SWOT analysis might be:

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

​With respect to the BCG matrix,which one of the following generates considerable income,but requires sizeable investments to underwrite further growth in the future?

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

How does planning differ at various levels of organizational management?

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

An organization lays out its basic objectives,or goals,in its complete mission statement.

Marketing strategy is an overall company-wide program for selecting a particular target market and satisfying consumers through a careful blend of the elements of the marketing mix.

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 B2bmarketing

Global Marketing

Market Segmentation, targeting, and Positioning

Marketing Research in the Era of Big Data

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

Developing an Effective Marketing Plan

Financial Analysis in Marketing

Filters

With respect to the BCG matrix,which one of the following generates considerable income,but requires sizeable investments to underwrite further growth in the future?