Question 1

When Wal-Mart opened a new store in Hong-Kong using the same retailing strategies that made it so strong in the U.S., it was using a _____ _____ strategy.

Accepted Answer

The answer of When Wal-Mart opened a new store in...

Question 2

For which of the following products is the marketing plan most likely to have a time frame of less than one full year?

Accepted Answer

A)  fish tanks 
B)  file cabinets 
C)  fashions for the fall season 
D)  children's books 
E)  steel building trusses

Question 3

If the owner of a children's day-care center were to answer the question, "What business are you in?" with the statement, "We nurture children and provide them with a homelike environment that keeps their separation anxieties to a minimum," it would be an example of a _____ mission statement.

Accepted Answer

A)  sales-oriented 
B)  customer-oriented 
C)  marketing-oriented 
D)  profit-oriented 
E)  product-oriented

Question 4

Harry Potter, the fictional wizard, attends Hogwarts, a school for wizard training. The _____ for Hogwarts could be, "To train young wizards to use their magical talents wisely and proficiently."

Accepted Answer

A)  strategic plan 
B)  corporate motto 
C)  marketing campaign 
D)  mission 
E)  situational assessment

Question 5

The National Football League (NFL) has expanded into various cities in Western Europe including Barcelona and London. Now Europeans can watch football just as it's played in the U.S. According to the product-market growth matrix, the NFL is using a strategy of:

Accepted Answer

A)  product development. 
B)  divestment. 
C)  market development. 
D)  diversification. 
E)  differentiation.

Question 6

By offering cash bonuses, prizes, and free vacations to travelers, Holiday Inn, Ramada Inn, and Hilton tried to increase sales in their present markets. Which of the following strategic alternatives did the hotel chains use?

Accepted Answer

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

Question 7

Chaparral Steel uses only scrap iron and scrap steel in its very efficient continuous-casting process to make new steel. It is the only U.S. steel company that ships to Japan. Because of its low cost, it has gained a _____ over other U.S. steel manufacturers.

Accepted Answer

A)  negative force 
B)  situational threat 
C)  ignored prerequisite 
D)  competitive threat 
E)  differential advantage

Question 8

The Marriott Hotels division consists of 4 percent of all U.S. lodging rooms and is the nation's largest hotel/motel operator in the fast-growing lodging industry. According to the BCG matrix, this division would be classified as a(n):

Accepted Answer

A)  solar system. 
B)  exclamation point. 
C)  problem child. 
D)  cash cow. 
E)  star.

Question 9

Clorox bleach has 60 percent of its market. According to the value discipline framework, Clorox bleach has:

Accepted Answer

A)  product leadership. 
B)  customer intimacy. 
C)  a niche marketing strategy. 
D)  value innovation. 
E)  operational excellence.

Question 10

Neiman Marcus offers a unique product mix in its Christmas catalog each year. The news media often reports on the expensive and outlandish gifts that the retailer features like matching jewel-encrusted saddles. This unique product mix gives Nieman Marcus its:

Accepted Answer

A)  comparative selection advantage. 
B)  sales orientation. 
C)  differential advantage. 
D)  customer orientation. 
E)  market orientation.

Question 11

In terms of a SWOT assessment, a company that identifies a strategic window has identified a(n):

Accepted Answer

A)  strength. 
B)  opportunity. 
C)  tactic. 
D)  strategic vision. 
E)  strategy.

Question 12

Darby received e-mail from her supervisor this morning. The message told her that her department was "to decrease order-fulfillment errors by 3 percent during the next 6 months." Her e-mail message was most likely a(n):

Accepted Answer

A)  strategic plan. 
B)  mission statement. 
C)  organizational objective. 
D)  tactical plan. 
E)  situation assessment.

Question 13

The GE business screen classifies SBUs based on business position and:

Accepted Answer

A)  market entry barriers. 
B)  growth of industry. 
C)  the industry's life cycle. 
D)  levels of profit. 
E)  market attractiveness.

Question 14

Long-range planning is the responsibility of middle- and lower-level managers.

Accepted Answer

A) True 
 B)False

Question 15

Target markets for a cleaning service would include families in which both spouses work, older people, upper-class consumers, and contractors who would want a house to be cleaned for prospective buyers.

Accepted Answer

A) True 
 B)False

Question 16

An annual marketing plan does all of the following EXCEPT:

Accepted Answer

A)  outline how much money can be spent to carry out the plan. 
B)  summarize the strategies and tactics that will be used to achieve specified objectives. 
C)  outline who is responsible for which activities. 
D)  discuss the development of the organizational mission. 
E)  describe how the plan will be implemented.

Question 17

Carnival Cruise Line is the world's biggest cruise operator. The market for cruises has grown at about 10 percent annually for the last five years. In terms of the BCG matrix, Carnival would be a(n):

Accepted Answer

A)  question mark. 
B)  star. 
C)  cash cow. 
D)  problem child. 
E)  exclamation point.

Question 18

An executive summary, situation analysis, objectives, strategies, tactics, financial schedules, timetables, and evaluation procedures would all be part of a(n):

Accepted Answer

A)  annual marketing plan. 
B)  corporate organizational chart. 
C)  Gantt chart. 
D)  tactical plan. 
E)  organizational flow chart.

Question 19

A product's positioning:

Accepted Answer

A)  is how the product is perceived by its competitors. 
B)  is the image it projects in relation to competitive products as well as to other products marketed by the same company. 
C)  describes its physical characteristics. 
D)  is the image projected by the product, exclusive of its features. 
E)  prevents a manufacturer from revising its mission statement.

Question 20

The _____ stage of the management process includes setting goals and designing both strategies and tactics to reach goals.

Accepted Answer

A)  planning 
B)  motivation 
C)  evaluation 
D)  implementation 
E)  organization

Exam 20: Strategic Marketing Planning

When Wal-Mart opened a new store in Hong-Kong using the same retailing strategies that made it so strong in the U.S., it was using a _ _ strategy.