Question 1

Mission statements that express unrealistic visions are usually unable to inspire employees to achieve their targets.

Accepted Answer

A) True 
 B)False

Question 2

A company that seeks to increase its sales and profits through backward, forward, or horizontal integration within the industry is said to be employing a(n)________ strategy.

Accepted Answer

A)  diversification growth 
B)  intensive growth 
C)  target growth 
D)  integrative growth 
E)  conglomerate growth 
A)  diversification growth 
B)  intensive growth 
C)  target growth 
D)  integrative growth 
E)  conglomerate growth

Question 3

Another name for a company's value delivery network is "distribution chain."

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

Questions would typically be: (1) Can th

Question 5

Once a SWOT analysis has been completed, the strategic planner is ready to proceed to the goal formulation stage of the strategic-planning process model.

Accepted Answer

A) True 
 B)False

Question 6

Indicate the differences and similarities between the following terms: marketing plan, strategic marketing plan, and tactical marketing plan.

Accepted Answer

The marketing plan is the central instru

Question 7

Which of the following plans would most likely include 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 
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 8

When Yahoo! began to flounder in 2001, CEO Terry Semel imposed a more conservative, buttoned-down atmosphere on the freewheeling Internet start-up. At the new Yahoo!, spontaneity is out and order is in. Identify this organizational phenomenon.

Accepted Answer

This could be described as a change in c

Question 9

Holistic marketing focuses on the integration of value exploration, value creation, and value delivery as a means to build long-term relationships with consumers.

Accepted Answer

A) True 
 B)False

Question 10

When a business gets to know market segments intimately and pursues either cost leadership or differentiation within the target segment, it is employing a ________.

Accepted Answer

A)  defined strategy 
B)  focused strategy 
C)  value-added strategy 
D)  competitive advantage strategy 
E)  customer-focused strategy 
A)  defined strategy 
B)  focused strategy 
C)  value-added strategy 
D)  competitive advantage strategy 
E)  customer-focused strategy

Question 11

With respect to the core business processes, the ________ includes all the activities involved in developing, and launching high-quality products quickly and within budget.

Accepted Answer

A)  market-sensing process 
B)  new-offering realization process 
C)  fulfillment management process 
D)  customer acquisition process 
E)  customer relationship management process 
A)  market-sensing process 
B)  new-offering realization process 
C)  fulfillment management process 
D)  customer acquisition process 
E)  customer relationship management process

Question 12

A company seeking to expand the number of existing products sold to its current markets, would be using a "market-penetration strategy."

Accepted Answer

A) True 
 B)False

Question 13

Holistic marketers achieve profitable growth by expanding customer share, ________, and capturing customer lifetime value.

Accepted Answer

A)  undermining competitive competencies 
B)  building customer loyalty 
C)  creating customer needs 
D)  renewing a customer base 
E)  cannibalizing products 
A)  undermining competitive competencies 
B)  building customer loyalty 
C)  creating customer needs 
D)  renewing a customer base 
E)  cannibalizing products

Question 14

Outline the steps involved in business unit strategic-planning process.

Accepted Answer

Students should describe (in o

Question 15

Which of the following is an example of growth by diversification?

Accepted Answer

A)  a company introducing its existing products in a new market 
B)  a company introducing new product category in a new market 
C)  a company increases its product line in an existing market 
D)  a company introducing a new product category in an existing market 
E)  a company integrates backward to cut costs 
A)  a company introducing its existing products in a new market 
B)  a company introducing new product category in a new market 
C)  a company increases its product line in an existing market 
D)  a company introducing a new product category in an existing market 
E)  a company integrates backward to cut costs

Question 16

Core competencies tend to refer to areas of special technical and production expertise, whereas ________ tend to describe excellence in broader business processes.

Accepted Answer

A)  process benchmarks 
B)  distinctive capabilities 
C)  distributive capabilities 
D)  facultative benchmarks 
E)  concentric capabilities 
A)  process benchmarks 
B)  distinctive capabilities 
C)  distributive capabilities 
D)  facultative benchmarks 
E)  concentric capabilities

Question 17

The customer relationship management process involves all the activities related to receiving and approving orders, shipping the goods on time, and collecting payment.

Accepted Answer

A) True 
 B)False

Question 18

Describe what happens in scenario analysis and explain why firms such as Royal Dutch/Shell Group use the technique.

Accepted Answer

Scenario analysis consists of developing

Question 19

When a manager is trying to identify how the company can efficiently create promising new offerings , he is addressing the question of value delivery.

Accepted Answer

A) True 
 B)False

Question 20

If you were the CEO of a company that was looking to implement strategies to fill a perceived strategic-planning gap, you would most likely explore ________ strategy first because it is easier to improve an existing business than to build a new one.

Accepted Answer

A)  market-penetration 
B)  market-development 
C)  diversification 
D)  product-development 
E)  exclusive 
A)  market-penetration 
B)  market-development 
C)  diversification 
D)  product-development 
E)  exclusive

Exam 2: Developing Marketing Strategies and Plans

Mission statements that express unrealistic visions are usually unable to inspire employees to achieve their targets.

A company that seeks to increase its sales and profits through backward, forward, or horizontal integration within the industry is said to be employing a(n)________ strategy.

Another name for a company's value delivery network is "distribution chain."

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

Once a SWOT analysis has been completed, the strategic planner is ready to proceed to the goal formulation stage of the strategic-planning process model.

Indicate the differences and similarities between the following terms: marketing plan, strategic marketing plan, and tactical marketing plan.

Which of the following plans would most likely include directions for implementing and addressing daily challenges and opportunities in product features, promotion, merchandising, pricing, sales channels, and service areas?

When Yahoo! began to flounder in 2001, CEO Terry Semel imposed a more conservative, buttoned-down atmosphere on the freewheeling Internet start-up. At the new Yahoo!, spontaneity is out and order is in. Identify this organizational phenomenon.

Holistic marketing focuses on the integration of value exploration, value creation, and value delivery as a means to build long-term relationships with consumers.

When a business gets to know market segments intimately and pursues either cost leadership or differentiation within the target segment, it is employing a ________.

With respect to the core business processes, the ________ includes all the activities involved in developing, and launching high-quality products quickly and within budget.

A company seeking to expand the number of existing products sold to its current markets, would be using a "market-penetration strategy."

Holistic marketers achieve profitable growth by expanding customer share, ________, and capturing customer lifetime value.

Outline the steps involved in business unit strategic-planning process.

Which of the following is an example of growth by diversification?

Core competencies tend to refer to areas of special technical and production expertise, whereas ________ tend to describe excellence in broader business processes.

The customer relationship management process involves all the activities related to receiving and approving orders, shipping the goods on time, and collecting payment.

Describe what happens in scenario analysis and explain why firms such as Royal Dutch/Shell Group use the technique.

When a manager is trying to identify how the company can efficiently create promising new offerings , he is addressing the question of value delivery.

If you were the CEO of a company that was looking to implement strategies to fill a perceived strategic-planning gap, you would most likely explore ________ strategy first because it is easier to improve an existing business than to build a new one.

Defining Marketing for the 21st Century

Collecting Information and Forecasting Demand

Conducting Marketing Research

Creating Long-Term Loyalty Relationships

Analyzing Consumer Markets

Analyzing Business Markets

Identifying Market Segments and Targets

Creating Brand Equity

Crafting the Brand Positioning

Competitive Dynamics

Setting Product Strategy

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Personal Communications: Direct and Interactive Marketing, Word of Mouth, and Personal Selling

Introducing New Market Offerings

Tapping into Global Markets

Managing a Holistic Marketing Organization for the Long Run

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