Question 1

Everyone knows the brand name Maytag.Maytag is what many consumers think of when they think of home appliances.This widely recognized brand name is a source of:

Accepted Answer

A) a product differentiation competitive advantage 
B) a cost advantage 
C) market augmentation 
D) a niche competitive advantage 
E) none of these things

Question 2

In 2007,Kodak announced that their new line of EasyShare printers would be available only in Best Buy stores for the first three months following the product launch.This limitation on the _____ element of its marketing mix supports the product's competitive advantage.

Accepted Answer

A) planning 
B) product 
C) promotion 
D) distribution 
E) production

Question 3

Yildiz Holding of Turkey purchased Godiva Chocolates from Campbell's Soup Company.Campbell's sold one of its:

Accepted Answer

A) strategic business units (SBUs) 
B) strategic alliances 
C) action programs 
D) transactional units 
E) synergistic divisions

Question 4

Environmental scanning entails the collection and analysis of information about factors that may affect the organization as well as the identification of market opportunities and threats.

Accepted Answer

A) True 
 B)False

Question 5

Phusion Products used __________ to make Four Loko attractive to young people mixing and abusing such energy-alcoholic drink combinations such as Bull and Jägermeister.

Accepted Answer

A) perceptual mapping 
B) positioning 
C) product differentiation 
D) cannibalization 
E) niche marketing

Question 6

When a Mary Kay identifies and focuses on the younger age of its largely female clientele,their unlimited earning power,their preferences for certain product lines,and the like,it is looking at __________.

Accepted Answer

A) segmentation descriptors 
B) target market variables 
C) evoked sets 
D) consideration sets 
E) optimizers

Question 7

To be useful,marketing objectives should be realistic,measurable,time specific,and based on sales.

Accepted Answer

A) True 
 B)False

Question 8

General Electric has a financing business called GE Capital,which has its own mission,products,services,and strategic plans separate from the parent organization.GE Capital is an example of a(n):

Accepted Answer

A) organizational level. 
B) SWOT. 
C) secure business unit. 
D) diversified division. 
E) strategic business unit.

Question 9

Which of the following factors or influences provided a "gateway" to drinking and abusing Four Loko?

Accepted Answer

A) sport hydrating drinks consumed in childhood 
B) social class 
C) income 
D) college drinking subculture 
E) all of the above

Question 10

The four Ps of the marketing mix are product,planning,promotion,and price.

Accepted Answer

A) True 
 B)False

Question 11

A diversification strategy entails increasing sales by introducing new products into new markets.

Accepted Answer

A) True 
 B)False

Question 12

Identify the dimensions used for selecting strategic alternatives in the General Electric model.What are some attributes of an attractive market in this model?

Accepted Answer

The answer of Identify the dimensions used for selecting strategic...

Question 13

InBev bought Anheuser-Busch.How will this purchase affect InBev's marketing mix?

Accepted Answer

A) It will only affect the product element of InBev's marketing mix. 
B) It will only affect InBev's four Ps--not its marketing mix. 
C) It will affect all of InBev's marketing mix elements,either directly or indirectly. 
D) It will not affect the promotion or distribution elements of the InBev marketing mix. 
E) It will have no affect on InBev's marketing mix.

Question 14

_____ is the process of gauging the extent to which marketing objectives have been achieved during the specified time period.

Accepted Answer

A) Implementation 
B) Control 
C) Heuristic measurement 
D) Evaluation 
E) Mechanistic compliance

Question 15

The portfolio matrix is a tool for allocating resources among products or strategic business units on the basis of relative market share and degree of innovation.

Accepted Answer

A) True 
 B)False

Question 16

There is an overabundance of apartments in Atlanta.Post Properties,the owner of many of the metropolitan area's largest apartment complexes,has reduced its rent so it can fill vacant apartments.Which marketing mix element did Post change to create more demand for its apartments?

Accepted Answer

A) Production 
B) Personnel 
C) Distribution 
D) Product 
E) Price

Question 17

Kraft introduced Philadelphia Ready-To-Eat Cheesecake Filling for those who do not have time to make cheesecake in the traditional manner.This is an example of a _____ strategy.

Accepted Answer

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

Question 18

_____ is the managerial process of creating and maintaining a fit between the organization's objectives and resources and the evolving market opportunities.

Accepted Answer

A) Tactical management 
B) The market audit 
C) Functional planning 
D) Environmental scanning 
E) Strategic planning

Question 19

_____ is a strategy of increasing market share for present products in existing markets.

Accepted Answer

A) Market penetration 
B) Product development 
C) Market development 
D) Diversification 
E) Product penetration

Question 20

A significant demographic driver for Disney to expand its target market to teens was __________.

Accepted Answer

A) family-friendly fare 
B) to achieve tween appeal 
C) fewer younger children 
D) to reach out to an adult audience 
E) all of the above

Exam 2: Strategic Planning for Competitive Advantage

Everyone knows the brand name Maytag.Maytag is what many consumers think of when they think of home appliances.This widely recognized brand name is a source of:

In 2007,Kodak announced that their new line of EasyShare printers would be available only in Best Buy stores for the first three months following the product launch.This limitation on the _____ element of its marketing mix supports the product's competitive advantage.

Yildiz Holding of Turkey purchased Godiva Chocolates from Campbell's Soup Company.Campbell's sold one of its:

Environmental scanning entails the collection and analysis of information about factors that may affect the organization as well as the identification of market opportunities and threats.

Phusion Products used __________ to make Four Loko attractive to young people mixing and abusing such energy-alcoholic drink combinations such as Bull and Jägermeister.

When a Mary Kay identifies and focuses on the younger age of its largely female clientele,their unlimited earning power,their preferences for certain product lines,and the like,it is looking at __________.

To be useful,marketing objectives should be realistic,measurable,time specific,and based on sales.

General Electric has a financing business called GE Capital,which has its own mission,products,services,and strategic plans separate from the parent organization.GE Capital is an example of a(n) :

Which of the following factors or influences provided a "gateway" to drinking and abusing Four Loko?

The four Ps of the marketing mix are product,planning,promotion,and price.

A diversification strategy entails increasing sales by introducing new products into new markets.

Identify the dimensions used for selecting strategic alternatives in the General Electric model.What are some attributes of an attractive market in this model?

InBev bought Anheuser-Busch.How will this purchase affect InBev's marketing mix?

_____ is the process of gauging the extent to which marketing objectives have been achieved during the specified time period.

The portfolio matrix is a tool for allocating resources among products or strategic business units on the basis of relative market share and degree of innovation.

There is an overabundance of apartments in Atlanta.Post Properties,the owner of many of the metropolitan area's largest apartment complexes,has reduced its rent so it can fill vacant apartments.Which marketing mix element did Post change to create more demand for its apartments?

Kraft introduced Philadelphia Ready-To-Eat Cheesecake Filling for those who do not have time to make cheesecake in the traditional manner.This is an example of a _____ strategy.

_____ is the managerial process of creating and maintaining a fit between the organization's objectives and resources and the evolving market opportunities.

_____ is a strategy of increasing market share for present products in existing markets.

A significant demographic driver for Disney to expand its target market to teens was __________.