Question 1

Marketing strategy is an overall company-wide program for selecting a particular target market and satisfying consumers through a careful blend of the elements of the marketing mix.

Accepted Answer

A) True 
 B)False

Question 2

In the BCG matrix,the position of an SBU along the vertical axis indicates the _____ of the market.

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

Question 3

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.

Question 4

Carmen is a marketer for a global consumer products company.She is designing a promotional campaign for a foreign market and wants to ensure that the promotional campaign is clearly understood by the target consumers.She is also taking special care to see that the campaign is free from controversies and does not inadvertently offend anyone.In this scenario,Carmen is specifically trying to take into account variables of the country's _____ environment.

Accepted Answer

A)  social-cultural 
B)  political-legal 
C)  competitive 
D)  economic

Question 5

A strategic window is defined as a collection of situations where organizations are unable to capitalize on opportunities because of internal limitations.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following statements is true of tactical planning?

Accepted Answer

A)  It is conducted exclusively by the supervisory personnel. 
B)  It is used to generate weekly plans, unit budgets, departmental rules and procedures. 
C)  It is designed to determine annual budgets and long-range strategic goals. 
D)  It is performed to substitute the strategic planning process in large organizations.

Question 7

In addition to the four forces of the Five Forces Model,which of the following influences rivalry among competitors?

Accepted Answer

A)  Decreased availability of information of competitors 
B)  Decreased consumption during a lull in the economy 
C)  Lack of differentiation between products 
D)  Lack of major differences in pricing strategies

Question 8

A firm that adopts a _____,attempts to capture the greatest market share and develop long-term relationships by being the pioneer to enter the market with a good or service.

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

Question 9

_____ primarily involves decisions concerning the goods and services to be offered by a firm.

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

Question 10

Microsoft Windows generates considerable income for its parent company but is expensive to support.However,the expense is acceptable because Windows is the world's dominant operating system.Based on this information,Windows would be categorized under the BCG market share/market growth matrix as a:

Accepted Answer

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

Question 11

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

Question 12

Decisions about distribution strategy primarily involve challenges such as:

Accepted Answer

A)  how to advertise the product. 
B)  how to position a product. 
C)  when to raise prices to cover costs. 
D)  which marketing channels to adopt.

Question 13

Bell Weddings was the company that pioneered the wedding planning industry.The owners realized that customizing weddings to the wishes of the families,taking charge of the responsibilities,and creating a day that is memorable for clients was an incredible business venture.The case of Bell Weddings illustrates the value of _____.

Accepted Answer

A)  organizational vulnerabilities 
B)  the first mover strategy 
C)  operating plans 
D)  portfolio analysis

Question 14

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 15

Maxwell has been promoted to an upper-level management position at QVC.He will be involved in matters relating to transportation media,order processing,and development of marketing channels.Maxwell is involved in developing _____ strategies for the marketing team.

Accepted Answer

A)  product 
B)  distribution 
C)  promotional 
D)  test marketing

Question 16

General Electric's NBC division acquired Universal Studios and the highest executive who approved this acquisition was most likely GE's CEO.This decision is the direct result of _____ planning process at GE.

Accepted Answer

A)  tactical 
B)  strategic 
C)  operational 
D)  technological

Question 17

Detailed organizational objectives should state specific intentions,such as "Snapple Corporation seeks to increase its share of the non-carbonated soft drink market to 25 percent within the next two years."

Accepted Answer

A) True 
 B)False

Question 18

An example of a firm's strength discovered by a SWOT analysis might be:

Accepted Answer

A)  ownership of valuable patents. 
B)  a narrow current product line. 
C)  changing buyer tastes in the marketplace. 
D)  existing government policies favoring the industry.

Question 19

Data suggests that business owners who adopt the first mover strategy will always be long-term market winners.

Accepted Answer

A) True 
 B)False

Question 20

Jose is part of a team that is analyzing current demographic trends.The team will make a recommendation concerning the groups of consumers toward whom the firm should direct its new marketing effort.Jose's team is involved in which of the following elements of the firm's marketing strategy?

Accepted Answer

A)  Target market 
B)  Distribution 
C)  Product 
D)  Promotion

Exam 2: Strategic Planning in Contemporary Marketing

Marketing strategy is an overall company-wide program for selecting a particular target market and satisfying consumers through a careful blend of the elements of the marketing mix.

In the BCG matrix,the position of an SBU along the vertical axis indicates the _____ of the market.

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

A strategic window is defined as a collection of situations where organizations are unable to capitalize on opportunities because of internal limitations.

Which of the following statements is true of tactical planning?

In addition to the four forces of the Five Forces Model,which of the following influences rivalry among competitors?

A firm that adopts a _____,attempts to capture the greatest market share and develop long-term relationships by being the pioneer to enter the market with a good or service.

_____ primarily involves decisions concerning the goods and services to be offered by a firm.

Microsoft Windows generates considerable income for its parent company but is expensive to support.However,the expense is acceptable because Windows is the world's dominant operating system.Based on this information,Windows would be categorized under the BCG market share/market growth matrix as a:

The _____ process involves implementing planning activities devoted to achieving marketing objectives.

Decisions about distribution strategy primarily involve challenges such as:

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

Maxwell has been promoted to an upper-level management position at QVC.He will be involved in matters relating to transportation media,order processing,and development of marketing channels.Maxwell is involved in developing _____ strategies for the marketing team.

General Electric's NBC division acquired Universal Studios and the highest executive who approved this acquisition was most likely GE's CEO.This decision is the direct result of _____ planning process at GE.

Detailed organizational objectives should state specific intentions,such as "Snapple Corporation seeks to increase its share of the non-carbonated soft drink market to 25 percent within the next two years."

An example of a firm's strength discovered by a SWOT analysis might be:

Data suggests that business owners who adopt the first mover strategy will always be long-term market winners.

Jose is part of a team that is analyzing current demographic trends.The team will make a recommendation concerning the groups of consumers toward whom the firm should direct its new marketing effort.Jose's team is involved in which of the following elements of the firm's marketing strategy?