Question 1

An intensive growth strategy involving marketing current products to new markets is a market-development strategy.

Accepted Answer

A) True 
 B)False

Question 2

A marketing vision statement is a written document that summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives.

Accepted Answer

A) True 
 B)False

Question 3

The ________ is the central instrument for directing and coordinating the marketing effort.

Accepted Answer

A)  strategic plan 
B)  marketing plan 
C)  tactical plan 
D)  customer-value statement 
E)  corporate mission

Question 4

Apex Corporation is one of the best in its industry in terms of costs and performance.Many companies will probably use Apex as a ________.

Accepted Answer

A)  target 
B)  benchmark 
C)  competitor to beat 
D)  future supplier 
E)  sounding board for ideas

Question 5

The traditional view of marketing is that the firm makes something and then ________ it.

Accepted Answer

A)  markets 
B)  sells 
C)  distributes 
D)  prices 
E)  services

Question 6

If a manager asks,"How can my company identify new value opportunities" he or she is examining a management question identified as being value creation.

Accepted Answer

A) True 
 B)False

Question 7

The marketing plan should open with a situation analysis.

Accepted Answer

A) True 
 B)False

Question 8

In which of the following plans would we most likely find directions for implementing and addressing daily challenges and opportunities in product features,promotion,merchandising,pricing,sales channels,and service areas

Accepted Answer

A)  the tactical marketing plan 
B)  the target marketing plan 
C)  the deployment plan 
D)  the product-launch plan 
E)  the product-development plan

Question 9

Which of the following is one of the four planning activities undertaken by all corporate headquarters

Accepted Answer

A)  defining the corporate mission 
B)  establishing strategic business units 
C)  assigning resources to each SBU 
D)  assessing growth opportunities 
E)  all of the above

Question 10

Explain what happens in a SWOT analysis during the strategic planning process.

Accepted Answer

The answer of Explain what happens in a SWOT analysis...

Question 11

What questions would typically be asked during a market opportunity analysis (MOA)

Accepted Answer

The answer of What questions would typically be asked during...

Question 12

Competitive advantage ultimately derives from how well the company has guarded its core competencies from theft by competitors.

Accepted Answer

A) True 
 B)False

Question 13

Companies normally measure their profit performance using ROI; however,this approach suffers because profits are arbitrarily measured and subject to manipulation.

Accepted Answer

A) True 
 B)False

Question 14

Marketing opportunities to supply something that is currently in short supply require significant marketing talent.

Accepted Answer

A) True 
 B)False

Question 15

To evaluate opportunities,companies can use market opportunity analysis (MOA)to determine the attractiveness and probability of success.

Accepted Answer

A) True 
 B)False

Question 16

One of the key questions to ask in evaluating a marketing plan is whether the plan is simple or not.

Accepted Answer

A) True 
 B)False

Question 17

In applying MBO (management by objectives)all objectives are treated as being equally important-objective discrimination is not allowed.

Accepted Answer

A) True 
 B)False

Question 18

The company's ________ can be described in terms of breadth-broad versus focused scope of business; and depth-physical versus knowledge-based capabilities.

Accepted Answer

A)  business mission 
B)  core strategy 
C)  cognitive space 
D)  competency space 
E)  resource space

Question 19

A holistic marketing orientation can provide insight into the process of capturing customer value and is designed to address three key management questions.Describe and illustrate each of these key management questions.

Accepted Answer

The answer of A holistic marketing orientation can provide insight...

Question 20

The ________ in the value chain cover the sequence of bringing materials into the business (inbound logistics),converting them into final products (operations),shipping out final products (outbound logistics),marketing them (marketing and sales),and servicing them (service).

Accepted Answer

A)  operations processes 
B)  manufacturing processes 
C)  primary activities 
D)  secondary activities 
E)  tertiary activities

Exam 2: Developing Marketing Strategies and Plans

An intensive growth strategy involving marketing current products to new markets is a market-development strategy.

A marketing vision statement is a written document that summarizes what the marketer has learned about the marketplace and indicates how the firm plans to reach its marketing objectives.

The ________ is the central instrument for directing and coordinating the marketing effort.

Apex Corporation is one of the best in its industry in terms of costs and performance.Many companies will probably use Apex as a ________.

The traditional view of marketing is that the firm makes something and then ________ it.

If a manager asks,"How can my company identify new value opportunities" he or she is examining a management question identified as being value creation.

The marketing plan should open with a situation analysis.

In which of the following plans would we most likely find directions for implementing and addressing daily challenges and opportunities in product features,promotion,merchandising,pricing,sales channels,and service areas

Which of the following is one of the four planning activities undertaken by all corporate headquarters

Explain what happens in a SWOT analysis during the strategic planning process.

What questions would typically be asked during a market opportunity analysis (MOA)

Competitive advantage ultimately derives from how well the company has guarded its core competencies from theft by competitors.

Companies normally measure their profit performance using ROI; however,this approach suffers because profits are arbitrarily measured and subject to manipulation.

Marketing opportunities to supply something that is currently in short supply require significant marketing talent.

To evaluate opportunities,companies can use market opportunity analysis (MOA)to determine the attractiveness and probability of success.

One of the key questions to ask in evaluating a marketing plan is whether the plan is simple or not.

In applying MBO (management by objectives)all objectives are treated as being equally important-objective discrimination is not allowed.

The company's ________ can be described in terms of breadth-broad versus focused scope of business; and depth-physical versus knowledge-based capabilities.

A holistic marketing orientation can provide insight into the process of capturing customer value and is designed to address three key management questions.Describe and illustrate each of these key management questions.

The ________ in the value chain cover the sequence of bringing materials into the business (inbound logistics) ,converting them into final products (operations) ,shipping out final products (outbound logistics) ,marketing them (marketing and sales) ,and servicing them (service) .