Question 1

The first phase of the value creation and delivery sequence is ________ that represents the "homework" marketing must do before any product exists.

Accepted Answer

A)  choosing the value 
B)  providing the value 
C)  communicating the value 
D)  considering the value 
E)  acquiring the value 
A)  choosing the value 
B)  providing the value 
C)  communicating the value 
D)  considering the value 
E)  acquiring the value

Question 2

Most large companies consist of four organizational levels: the corporate level, the ________, the business unit level, and the product level.

Accepted Answer

A)  board of director level 
B)  major stakeholder level 
C)  management team level 
D)  division level 
E)  strategic level 
A)  board of director level 
B)  major stakeholder level 
C)  management team level 
D)  division level 
E)  strategic level

Question 3

Firms directing the same strategy to the same target market constitute a strategic group.

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

The three management questions are: (1)

Question 5

A firm employing a focus strategy concentrates on achieving superior performance in an important customer benefit area valued by a large part of the market.

Accepted Answer

A) True 
 B)False

Question 6

Characterize a marketing plan.

Accepted Answer

A marketing plan is a written document t

Question 7

MasterCard and Visa may team up with university alumni associations to offer affinity credit cards that typically display an iconic image associated with the university on the card itself and may include an incremental donation program associated with purchases made using the card. The best description of this form of alliance would be a ________.

Accepted Answer

A)  product alliance 
B)  logistics alliance 
C)  pricing collaboration 
D)  network alliance 
E)  promotional alliance 
A)  product alliance 
B)  logistics alliance 
C)  pricing collaboration 
D)  network alliance 
E)  promotional alliance

Question 8

A firm that is always working to improve its product offerings such that consumer needs are addressed more efficiently is following a differentiation strategy.

Accepted Answer

A) True 
 B)False

Question 9

Which of the following is best described as a market-oriented business definition?

Accepted Answer

A)  Missouri-Pacific Railroad: We run a railroad. 
B)  Xerox: We make copying equipment. 
C)  Standard Oil: We sell gasoline. 
D)  Encyclopedia Britannica: We distribute information. 
E)  Columbia Pictures: We make movies. 
A)  Missouri-Pacific Railroad: We run a railroad. 
B)  Xerox: We make copying equipment. 
C)  Standard Oil: We sell gasoline. 
D)  Encyclopedia Britannica: We distribute information. 
E)  Columbia Pictures: We make movies.

Question 10

The first step in the business unit strategic-planning process deals with which of the following?

Accepted Answer

A)  formulate goals 
B)  define business mission 
C)  implement strategies 
D)  execute programs 
E)  conduct SWOT analysis 
A)  formulate goals 
B)  define business mission 
C)  implement strategies 
D)  execute programs 
E)  conduct SWOT analysis

Question 11

A characteristic of a ________ is that it can be a single business or collection of related businesses that can be planned separately from the rest of the company.

Accepted Answer

A)  strategic business unit 
B)  subsidiary unit 
C)  merged unit 
D)  niche market unit 
E)  specialized business unit 
A)  strategic business unit 
B)  subsidiary unit 
C)  merged unit 
D)  niche market unit 
E)  specialized business unit

Question 12

Market-penetration, product-development, and market-development strategies would all be examples of ________ strategies.

Accepted Answer

A)  concentric growth 
B)  conglomerate 
C)  horizontal 
D)  intensive growth 
E)  integrative growth 
A)  concentric growth 
B)  conglomerate 
C)  horizontal 
D)  intensive growth 
E)  integrative growth

Question 13

Good mission statements should be long and clear, should emphasize on a wide range of goals, and stress on the company's major policies and values.

Accepted Answer

A) True 
 B)False

Question 14

Internal analysis in SWOT involves analyzing the possible opportunities and threats that can come from the market.

Accepted Answer

A) True 
 B)False

Question 15

Which of the following is NOT 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)  deciding sales channels 
A)  defining the corporate mission 
B)  establishing strategic business units 
C)  assigning resources to each SBU 
D)  assessing growth opportunities 
E)  deciding sales channels

The first phase of the value creation and delivery sequence is ________ that represents the "homework" marketing must do before any product exists.

Most large companies consist of four organizational levels: the corporate level, the ________, the business unit level, and the product level.

Firms directing the same strategy to the same target market constitute a strategic group.

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

A firm employing a focus strategy concentrates on achieving superior performance in an important customer benefit area valued by a large part of the market.

Characterize a marketing plan.

A firm that is always working to improve its product offerings such that consumer needs are addressed more efficiently is following a differentiation strategy.

Which of the following is best described as a market-oriented business definition?

The first step in the business unit strategic-planning process deals with which of the following?

A characteristic of a ________ is that it can be a single business or collection of related businesses that can be planned separately from the rest of the company.

Market-penetration, product-development, and market-development strategies would all be examples of ________ strategies.

Good mission statements should be long and clear, should emphasize on a wide range of goals, and stress on the company's major policies and values.

Internal analysis in SWOT involves analyzing the possible opportunities and threats that can come from the market.

Which of the following is NOT one of the four planning activities undertaken by all corporate headquarters?

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

Filters

Exam 2: Developing Marketing Strategies and Plans

The first phase of the value creation and delivery sequence is ________ that represents the "homework" marketing must do before any product exists.

Most large companies consist of four organizational levels: the corporate level, the ________, the business unit level, and the product level.

Firms directing the same strategy to the same target market constitute a strategic group.

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

A firm employing a focus strategy concentrates on achieving superior performance in an important customer benefit area valued by a large part of the market.

Characterize a marketing plan.

A firm that is always working to improve its product offerings such that consumer needs are addressed more efficiently is following a differentiation strategy.

Which of the following is best described as a market-oriented business definition?

The first step in the business unit strategic-planning process deals with which of the following?

A characteristic of a ________ is that it can be a single business or collection of related businesses that can be planned separately from the rest of the company.

Market-penetration, product-development, and market-development strategies would all be examples of ________ strategies.

Good mission statements should be long and clear, should emphasize on a wide range of goals, and stress on the company's major policies and values.

Internal analysis in SWOT involves analyzing the possible opportunities and threats that can come from the market.

Which of the following is NOT one of the four planning activities undertaken by all corporate headquarters?

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

Filters