Question 1

DK Motors' difficulty in competing with other car makers due to its lack of responsiveness to changing consumer preferences constitutes a:

Accepted Answer

A) strategic window. 
B) leveraged situation. 
C) threat from the environment. 
D) constraint on its activity. 
A) strategic window. 
B) leveraged situation. 
C) threat from the environment. 
D) constraint on its activity.

Question 2

Luxury brands such as Louis Vuitton and Gucci are experiencing a decline in sales as luxury buyers prefer to purchase non-branded merchandise as they are concerned with flaunting their wealth.Instead,they are purchasing luxury brands that do not feature the brands logo on the product.This trend is related to the fact that high income consumers have increased their wealth in the last several years while middle-income earners' wealth has declined.The decline in sales for Louis Vuitton and Gucci is related to the ________ environmental influence.

Accepted Answer

A) ​social-cultural 
B) ​technological 
C) ​political-legal 
D) ​competitive 
A) ​social-cultural 
B) ​technological 
C) ​political-legal 
D) ​competitive

Question 3

Jamie is the regional sales manager for Sherwin Williams paint company and oversees a team of 40 outside sales representatives.She meets with her sales managers on a monthly basis to review budgets and track the team's progress in meeting its sales quotas in order to reach company objectives.Jamie requires that each sales manager collaborate with their individual sales representatives to develop weekly call schedules and account plans.What type of planning is Jamie and her sales managers engaged in?

Accepted Answer

A) ​operational planning 
B) ​strategic planning 
C) ​tactical planning 
D) ​constructive planning 
A) ​operational planning 
B) ​strategic planning 
C) ​tactical planning 
D) ​constructive planning

Question 4

Tactical plans typically determine an organization's primary strategic objectives and exclude short-term actions from their purview.

Accepted Answer

A) True 
 B)False

Question 5

As chief executive of Stalwart Shipfitting Company,a diversified producer of marine supplies and equipment,John needs a method for spotting promising product lines that warrant commitment of additional resources,as well as those that should be removed from the firm's product portfolio.A good choice for this firm at this stage would be to use:

Accepted Answer

A) computer models. 
B) strategic business units. 
C) a marketing audit. 
D) an industry analysis. 
A) computer models. 
B) strategic business units. 
C) a marketing audit. 
D) an industry analysis.

Question 6

The planning process creates a blueprint that everyone in the organization must follow in order to achieve the organizational objectives.

Accepted Answer

A) True 
 B)False

Question 7

The statement of Starbucks to "inspire and nurture the human spirit - one person,one cup and one neighborhood at a time" is an example of a mission statement.

Accepted Answer

A) True 
 B)False

Question 8

Promotion is the communications link between sellers and buyers.

Accepted Answer

A) True 
 B)False

Question 9

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 10

According to the BCG matrix,cash cow businesses produce strong cash flows and invest heavily in the unit's own promotions and production capacity.

Accepted Answer

A) True 
 B)False

Question 11

Porter's Five Forces is a model which identifies five competitive forces that influence planning strategies.In regards to this model,which one of the following statements is true?​

Accepted Answer

A) ​It separates the forces into internal and external categories. 
B) ​The model was later updated to include the impact of the Internet on a firm's strategies. 
C) ​It identifies the threat of regulatory controls as one of the five forces. 
D) ​It only applies to firms that manufacture their own products. 
E) ​It is an integral part of the SWOT Analysis. 
A) ​It separates the forces into internal and external categories. 
B) ​The model was later updated to include the impact of the Internet on a firm's strategies. 
C) ​It identifies the threat of regulatory controls as one of the five forces. 
D) ​It only applies to firms that manufacture their own products. 
E) ​It is an integral part of the SWOT Analysis.

Question 12

The BCG (Boston Consulting Group)matrix places strategic business units into which of the following four-quadrants:​

Accepted Answer

A) ​Strengths, Weaknesses, Opportunities and Threats 
B) ​Oligopoly, Monopoly, Monopolistic Competition and Perfect Competition 
C) ​Micro, Small, Medium, and Large 
D) ​North, South, East and West 
E) ​Stars, Cash Cows, Question Marks and Dogs 
A) ​Strengths, Weaknesses, Opportunities and Threats 
B) ​Oligopoly, Monopoly, Monopolistic Competition and Perfect Competition 
C) ​Micro, Small, Medium, and Large 
D) ​North, South, East and West 
E) ​Stars, Cash Cows, Question Marks and Dogs

Question 13

​When you open an organic food store,you intend to follow a second mover strategy.Choose the benefit(s)of this approach.

Accepted Answer

A) ​You can observe and avoid the mistakes of Whole Foods and other innovative retailers. 
B) ​You can be the first to enter this market. 
C) ​You may be able to improve upon the innovations of first movers. 
D) ​You can promote this strategy in your advertising. 
E) ​Second movers can charge less than first movers. 
A) ​You can observe and avoid the mistakes of Whole Foods and other innovative retailers. 
B) ​You can be the first to enter this market. 
C) ​You may be able to improve upon the innovations of first movers. 
D) ​You can promote this strategy in your advertising. 
E) ​Second movers can charge less than first movers.

Question 14

Business strategist Michael E.Porter identified five competitive forces that influence _____ in a model called Porter's Five Forces.

Accepted Answer

A) planning strategies 
B) corporate social responsibility 
C) consumer behavior 
D) sustainable development 
A) planning strategies 
B) corporate social responsibility 
C) consumer behavior 
D) sustainable development

Question 15

Which of the following conditions would lead a company's marketers to find a new market,change prices,or compete in other ways to maintain an advantage?

Accepted Answer

A) When the bargaining power of suppliers is low 
B) When the bargaining power of buyers is low 
C) When the threat of substitute products is high 
D) When the threat of new entrants it low 
A) When the bargaining power of suppliers is low 
B) When the bargaining power of buyers is low 
C) When the threat of substitute products is high 
D) When the threat of new entrants it low

Question 16

The planning process begins at the corporate level with the first step being the development of strategic objectives.

Accepted Answer

A) True 
 B)False

Question 17

The marketing mix decisions which are closely regulated and subject to public scrutiny usually relate to a company's _____ strategy.

Accepted Answer

A) short-term 
B) resource 
C) distribution 
D) pricing 
A) short-term 
B) resource 
C) distribution 
D) pricing

Question 18

Which of the following is true of a strategic business unit?

Accepted Answer

A) A strategic unit directly adopts the mission of its parent organization. 
B) Each strategic unit depends on plans of the other units in the organization. 
C) A strategic unit has its own managers, resources, objectives, and competitors. 
D) A strategic unit is a key business unit within a small company that does not differ significantly from the parent company. 
A) A strategic unit directly adopts the mission of its parent organization. 
B) Each strategic unit depends on plans of the other units in the organization. 
C) A strategic unit has its own managers, resources, objectives, and competitors. 
D) A strategic unit is a key business unit within a small company that does not differ significantly from the parent company.

Question 19

Supervisory managers tend to focus exclusively on strategic planning.

Accepted Answer

A) True 
 B)False

Question 20

Relationship marketing can help a company:

Accepted Answer

A) create long-term and cost-effective links with individual customers and suppliers for mutual benefit. 
B) reduce its strategic planning effort since the need for such planning is greatly diminished by relationship marketing. 
C) locate more effective media for use in advertising and mass marketing. 
D) eliminate the strategic planning process and move into tactical plans directly. 
A) create long-term and cost-effective links with individual customers and suppliers for mutual benefit. 
B) reduce its strategic planning effort since the need for such planning is greatly diminished by relationship marketing. 
C) locate more effective media for use in advertising and mass marketing. 
D) eliminate the strategic planning process and move into tactical plans directly.

DK Motors' difficulty in competing with other car makers due to its lack of responsiveness to changing consumer preferences constitutes a:

Tactical plans typically determine an organization's primary strategic objectives and exclude short-term actions from their purview.

The planning process creates a blueprint that everyone in the organization must follow in order to achieve the organizational objectives.

The statement of Starbucks to "inspire and nurture the human spirit - one person,one cup and one neighborhood at a time" is an example of a mission statement.

Promotion is the communications link between sellers and buyers.

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

According to the BCG matrix,cash cow businesses produce strong cash flows and invest heavily in the unit's own promotions and production capacity.

Porter's Five Forces is a model which identifies five competitive forces that influence planning strategies.In regards to this model,which one of the following statements is true?

The BCG (Boston Consulting Group)matrix places strategic business units into which of the following four-quadrants:

When you open an organic food store,you intend to follow a second mover strategy.Choose the benefit(s)of this approach.

Business strategist Michael E.Porter identified five competitive forces that influence _____ in a model called Porter's Five Forces.

Which of the following conditions would lead a company's marketers to find a new market,change prices,or compete in other ways to maintain an advantage?

The planning process begins at the corporate level with the first step being the development of strategic objectives.

The marketing mix decisions which are closely regulated and subject to public scrutiny usually relate to a company's _____ strategy.

Which of the following is true of a strategic business unit?

Supervisory managers tend to focus exclusively on strategic planning.

Relationship marketing can help a company:

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

DK Motors' difficulty in competing with other car makers due to its lack of responsiveness to changing consumer preferences constitutes a:

Tactical plans typically determine an organization's primary strategic objectives and exclude short-term actions from their purview.

The planning process creates a blueprint that everyone in the organization must follow in order to achieve the organizational objectives.

The statement of Starbucks to "inspire and nurture the human spirit - one person,one cup and one neighborhood at a time" is an example of a mission statement.

Promotion is the communications link between sellers and buyers.

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

According to the BCG matrix,cash cow businesses produce strong cash flows and invest heavily in the unit's own promotions and production capacity.

Porter's Five Forces is a model which identifies five competitive forces that influence planning strategies.In regards to this model,which one of the following statements is true?​

The BCG (Boston Consulting Group)matrix places strategic business units into which of the following four-quadrants:​

​When you open an organic food store,you intend to follow a second mover strategy.Choose the benefit(s)of this approach.

Business strategist Michael E.Porter identified five competitive forces that influence _____ in a model called Porter's Five Forces.

Which of the following conditions would lead a company's marketers to find a new market,change prices,or compete in other ways to maintain an advantage?

The planning process begins at the corporate level with the first step being the development of strategic objectives.

The marketing mix decisions which are closely regulated and subject to public scrutiny usually relate to a company's _____ strategy.

Which of the following is true of a strategic business unit?

Supervisory managers tend to focus exclusively on strategic planning.

Relationship marketing can help a company:

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

Porter's Five Forces is a model which identifies five competitive forces that influence planning strategies.In regards to this model,which one of the following statements is true?

The BCG (Boston Consulting Group)matrix places strategic business units into which of the following four-quadrants:

When you open an organic food store,you intend to follow a second mover strategy.Choose the benefit(s)of this approach.