Question 1

The basic elements of a marketing strategy consist of ____________.​

Accepted Answer

A) ​Product and promotion 
B) ​Strategic planning and tactical planning 
C) ​The customer and the exchange 
D) ​Strategic planning and marketing planning 
E) ​The target market and the marketing mix 
A) ​Product and promotion 
B) ​Strategic planning and tactical planning 
C) ​The customer and the exchange 
D) ​Strategic planning and marketing planning 
E) ​The target market and the marketing mix

Question 2

Retailers such as Bed Bath and Beyond often use the ______ element of the marketing mix to influence consumers to purchase a greater number of products by offering a discount if a customer purchases multiple units such as 3 for $10.

Accepted Answer

A) ​price 
B) ​promotion 
C) ​product 
D) ​distribution 
A) ​price 
B) ​promotion 
C) ​product 
D) ​distribution

Question 3

The planning process identifies objectives and determines the actions that are needed to attain those objectives.

Accepted Answer

A) True 
 B)False

Question 4

The idea of first movers being completely replaced by second movers and the resulting disappearance of first movers from the marketplace is a myth.

Accepted Answer

A) True 
 B)False

Question 5

YOU Inc.,a radio cassette manufacturer,sold its business due to poor market shares.According to the BCG Matrix,the firm sold its business because the business had become a _____ as seen in its poor prospects and performance.

Accepted Answer

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

Question 6

Newsletters,catalogs,and invitations to company-sponsored events are most closely associated with the marketing mix activity of:

Accepted Answer

A) product pricing. 
B) product distribution. 
C) product development. 
D) product promotion. 
A) product pricing. 
B) product distribution. 
C) product development. 
D) product promotion.

Question 7

Marketers can rely on a full arsenal of tools and techniques to facilitate the development of effective marketing plans.With respect to these tools and techniques,which one of the following statements is true?​

Accepted Answer

A) ​Porter's Five Forces Model is a model that identifies five competitive pricing strategies for an organization to use in its marketing mix. 
B) ​A second mover strategy suggests that the firm that is second to offer a product or service will likely be the long term winner in the market. 
C) ​The bargaining power of suppliers is influenced by the number of buyers in the market. 
D) ​Social responsibility and philanthropy influence the strategies that companies use to distinguish themselves from their competitors. 
E) ​The strategic window refers to periods of time where what a firm does well is a close fit to what the requirements are in a given market. 
A) ​Porter's Five Forces Model is a model that identifies five competitive pricing strategies for an organization to use in its marketing mix. 
B) ​A second mover strategy suggests that the firm that is second to offer a product or service will likely be the long term winner in the market. 
C) ​The bargaining power of suppliers is influenced by the number of buyers in the market. 
D) ​Social responsibility and philanthropy influence the strategies that companies use to distinguish themselves from their competitors. 
E) ​The strategic window refers to periods of time where what a firm does well is a close fit to what the requirements are in a given market.

Question 8

Match each definition to the corresponding term.
-_____ are key business units within diversified firms.

Accepted Answer

A) planning 
B) marketing planning 
C) strategic planning 
D) tactical planning 
E) cash cows
F)first mover strategy
G)SWOT analysis
H)strategic window
I)marketing mix
J)product strategy
K)strategic business units
L)Porter's Five Forces
M)marketing strategy
N)dogs
O)stars
P)annual growth rate 
A) planning 
B) marketing planning 
C) strategic planning 
D) tactical planning 
E) cash cows
F)first mover strategy
G)SWOT analysis
H)strategic window
I)marketing mix
J)product strategy
K)strategic business units
L)Porter's Five Forces
M)marketing strategy
N)dogs
O)stars
P)annual growth rate

Question 9

Match each definition to the corresponding term.
-The _____ process involves implementing planning activities devoted to achieving marketing objectives.

Accepted Answer

A) planning 
B) marketing planning 
C) strategic planning 
D) tactical planning 
E) cash cows
F)first mover strategy
G)SWOT analysis
H)strategic window
I)marketing mix
J)product strategy
K)strategic business units
L)Porter's Five Forces
M)marketing strategy
N)dogs
O)stars
P)annual growth rate 
A) planning 
B) marketing planning 
C) strategic planning 
D) tactical planning 
E) cash cows
F)first mover strategy
G)SWOT analysis
H)strategic window
I)marketing mix
J)product strategy
K)strategic business units
L)Porter's Five Forces
M)marketing strategy
N)dogs
O)stars
P)annual growth rate

Question 10

Product lines,pricing decisions,selection of appropriate distribution channels,and decisions relating to promotional campaigns are____.

Accepted Answer

A) fixed and unchanging 
B) independent of the impact of external factors 
C) dynamic in today's boundaryless business environment 
D) determined from a purely retrospective viewpoint 
A) fixed and unchanging 
B) independent of the impact of external factors 
C) dynamic in today's boundaryless business environment 
D) determined from a purely retrospective viewpoint

Question 11

Promotional schemes like frequent shopper programs provide incentives to loyal buyers.Considering Porter's Five Forces model,such offers will:

Accepted Answer

A) reduce the threat of new entrants. 
B) decrease the rivalry among competitors. 
C) decrease the bargaining power of the supplier. 
D) increase the threat of substitute products. 
A) reduce the threat of new entrants. 
B) decrease the rivalry among competitors. 
C) decrease the bargaining power of the supplier. 
D) increase the threat of substitute products.

Question 12

In a SWOT analysis,marketers face a problem when environmental threats attack their organization's weaknesses.

Accepted Answer

A) True 
 B)False

Question 13

Core competencies are capabilities that customers value and competitors:

Accepted Answer

A) can easily copy. 
B) tend to overestimate. 
C) find difficult to duplicate. 
D) undervalue. 
A) can easily copy. 
B) tend to overestimate. 
C) find difficult to duplicate. 
D) undervalue.

Question 14

According to the BCG matrix,stars require considerable inflows of cash to finance further growth.

Accepted Answer

A) True 
 B)False

Question 15

Fred's Wholesale Club sends emails and catalogs to all members.Additionally,in-store pamphlets promote the benefits of its products.All of these materials are part of the integrated marketing communications intended to send a consistent and unified promotional message.

Accepted Answer

A) True 
 B)False

Question 16

Operational planning that involves the creation and implementation of tactical plans for the departments within an organization is primarily the responsibility of top-level management.

Accepted Answer

A) True 
 B)False

Question 17

Decisions relating to the product strategy primarily revolve around _____.

Accepted Answer

A) the promotional offers that would increase the visibility of the product in the market 
B) the features of the products being released in the market 
C) the choice of high/low or everyday low pricing by the company 
D) the selection of wholesalers and retailers to transport the stock to the market 
A) the promotional offers that would increase the visibility of the product in the market 
B) the features of the products being released in the market 
C) the choice of high/low or everyday low pricing by the company 
D) the selection of wholesalers and retailers to transport the stock to the market

Question 18

Match each definition to the corresponding term.
-SBUs in the category of _____ promise poor future prospects,and marketers should withdraw from these businesses or product lines as quickly as possible.

Accepted Answer

A) planning 
B) marketing planning 
C) strategic planning 
D) tactical planning 
E) cash cows
F)first mover strategy
G)SWOT analysis
H)strategic window
I)marketing mix
J)product strategy
K)strategic business units
L)Porter's Five Forces
M)marketing strategy
N)dogs
O)stars
P)annual growth rate 
A) planning 
B) marketing planning 
C) strategic planning 
D) tactical planning 
E) cash cows
F)first mover strategy
G)SWOT analysis
H)strategic window
I)marketing mix
J)product strategy
K)strategic business units
L)Porter's Five Forces
M)marketing strategy
N)dogs
O)stars
P)annual growth rate

Question 19

The disadvantage of core competencies is that they can be easily duplicated by competitors.

Accepted Answer

A) True 
 B)False

Question 20

Distinguish between an organization's mission and its objectives.Provide an example of each.

Accepted Answer

An organization’s mission is its essenti

Exam 2: Strategic Planning in Contemporary Marketing

The basic elements of a marketing strategy consist of ____________.​

Retailers such as Bed Bath and Beyond often use the ______ element of the marketing mix to influence consumers to purchase a greater number of products by offering a discount if a customer purchases multiple units such as 3 for $10.

The planning process identifies objectives and determines the actions that are needed to attain those objectives.

The idea of first movers being completely replaced by second movers and the resulting disappearance of first movers from the marketplace is a myth.

YOU Inc.,a radio cassette manufacturer,sold its business due to poor market shares.According to the BCG Matrix,the firm sold its business because the business had become a _____ as seen in its poor prospects and performance.

Newsletters,catalogs,and invitations to company-sponsored events are most closely associated with the marketing mix activity of:

Marketers can rely on a full arsenal of tools and techniques to facilitate the development of effective marketing plans.With respect to these tools and techniques,which one of the following statements is true?​

Match each definition to the corresponding term. -_____ are key business units within diversified firms.

Match each definition to the corresponding term. -The _____ process involves implementing planning activities devoted to achieving marketing objectives.

Product lines,pricing decisions,selection of appropriate distribution channels,and decisions relating to promotional campaigns are____.

Promotional schemes like frequent shopper programs provide incentives to loyal buyers.Considering Porter's Five Forces model,such offers will:

In a SWOT analysis,marketers face a problem when environmental threats attack their organization's weaknesses.

Core competencies are capabilities that customers value and competitors:

According to the BCG matrix,stars require considerable inflows of cash to finance further growth.

Fred's Wholesale Club sends emails and catalogs to all members.Additionally,in-store pamphlets promote the benefits of its products.All of these materials are part of the integrated marketing communications intended to send a consistent and unified promotional message.

Operational planning that involves the creation and implementation of tactical plans for the departments within an organization is primarily the responsibility of top-level management.

Decisions relating to the product strategy primarily revolve around _____.

Match each definition to the corresponding term. -SBUs in the category of _____ promise poor future prospects,and marketers should withdraw from these businesses or product lines as quickly as possible.

The disadvantage of core competencies is that they can be easily duplicated by competitors.

Distinguish between an organization's mission and its objectives.Provide an example of each.

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

The basic elements of a marketing strategy consist of ____________.

Marketers can rely on a full arsenal of tools and techniques to facilitate the development of effective marketing plans.With respect to these tools and techniques,which one of the following statements is true?