Question 1

________ measures the profits generated by investments in marketing activities.

Accepted Answer

A)  SWOT analysis 
B)  A marketing audit 
C)  Regression analysis 
D)  Return on marketing investment 
E)  Marketing budget evaluation 
A)  SWOT analysis 
B)  A marketing audit 
C)  Regression analysis 
D)  Return on marketing investment 
E)  Marketing budget evaluation

Question 2

Which of the following is an element of the marketing mix?

Accepted Answer

A)  place 
B)  education 
C)  needs 
D)  wants 
E)  esteem 
A)  place 
B)  education 
C)  needs 
D)  wants 
E)  esteem

Question 3

________ involves looking at whether a company's key action plans are well-matched to its opportunities.

Accepted Answer

A)  Operating control 
B)  Benchmarking 
C)  Strategic control 
D)  Regression analysis 
E)  Portfolio analysis 
A)  Operating control 
B)  Benchmarking 
C)  Strategic control 
D)  Regression analysis 
E)  Portfolio analysis

Question 4

The BCG matrix approach is problematic in that it ________.

Accepted Answer

A)  focuses on planning for the future at the cost of ignoring the present 
B)  focuses solely on current businesses and provides little scope for future planning 
C)  tends to undermine the importance of market growth rate as a measure of market attractiveness 
D)  tends to undermine the importance of relative market share as a measure of company strength in the market 
E)  fails to classify SBUs 
A)  focuses on planning for the future at the cost of ignoring the present 
B)  focuses solely on current businesses and provides little scope for future planning 
C)  tends to undermine the importance of market growth rate as a measure of market attractiveness 
D)  tends to undermine the importance of relative market share as a measure of company strength in the market 
E)  fails to classify SBUs

Question 5

The process of evaluating each market segment's attractiveness and selecting one or more segments to enter is known as ________.

Accepted Answer

A)  market segmentation 
B)  diversification 
C)  market targeting 
D)  prospecting 
E)  downsizing 
A)  market segmentation 
B)  diversification 
C)  market targeting 
D)  prospecting 
E)  downsizing

Question 6

Which of the following is a portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification?

Accepted Answer

A)  BCG matrix 
B)  analysis of variance (ANOV
A)  
C)  product/market expansion grid 
D)  Harris matrix 
E)  SWOT analysis 
A)  BCG matrix 
B)  analysis of variance (ANOV
A)  
C)  product/market expansion grid 
D)  Harris matrix 
E)  SWOT analysis

Question 7

"At Joe's Diner, we serve great burgers" is a product-oriented business definition.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following best describes a strategic business unit (SBU)?

Accepted Answer

A)  the internal value chain of a company 
B)  the supply chain of a company 
C)  the key businesses that make up a company 
D)  the key channel intermediaries of a service company 
E)  the key competitors of a company 
A)  the internal value chain of a company 
B)  the supply chain of a company 
C)  the key businesses that make up a company 
D)  the key channel intermediaries of a service company 
E)  the key competitors of a company

Question 9

Return on marketing investment refers to the net return from a marketing investment divided by the costs of the marketing investment.

Accepted Answer

A) True 
 B)False

Question 10

________ are low-share business units in high-growth markets that require a lot of cash to hold their share.

Accepted Answer

A)  Stars 
B)  Dogs 
C)  Question mark 
D)  Cash cows 
E)  Bears 
A)  Stars 
B)  Dogs 
C)  Question mark 
D)  Cash cows 
E)  Bears

Question 11

Which of the following is true with regard to a SWOT analysis?

Accepted Answer

A)  It classifies SBUs into four distinct categories. 
B)  It measures customer response to a new product. 
C)  It evaluates the company's overall strengths. 
D)  It evaluates the growth potential of a market segment. 
E)  It ignores the threats faced by a company while assessing its situation in the market. 
A)  It classifies SBUs into four distinct categories. 
B)  It measures customer response to a new product. 
C)  It evaluates the company's overall strengths. 
D)  It evaluates the growth potential of a market segment. 
E)  It ignores the threats faced by a company while assessing its situation in the market.

Question 12

Arrow is "a different kind of company, manufacturing a different kind of a car"; the RoadPro is "like nothing else." Statements such as these reflect a firm's ________.

Accepted Answer

A)  portfolio 
B)  marketing segment 
C)  positioning 
D)  marketing mix 
E)  mission statement 
A)  portfolio 
B)  marketing segment 
C)  positioning 
D)  marketing mix 
E)  mission statement

Question 13

The major activity in strategic planning is ________, whereby management evaluates the products and businesses that make up the company.

Accepted Answer

A)  SWOT analysis 
B)  benchmarking 
C)  business portfolio analysis 
D)  breakeven analysis 
E)  prospecting 
A)  SWOT analysis 
B)  benchmarking 
C)  business portfolio analysis 
D)  breakeven analysis 
E)  prospecting

Question 14

In a SWOT analysis, ________ include favorable trends in the external environment.

Accepted Answer

A)  strengths 
B)  challenges 
C)  weaknesses 
D)  opportunities 
E)  threats 
A)  strengths 
B)  challenges 
C)  weaknesses 
D)  opportunities 
E)  threats

Question 15

Which of the following is true with regard to the product/expansion grid?

Accepted Answer

A)  It classifies SBUs into four distinct categories. 
B)  It is a useful device for identifying growth opportunities. 
C)  It helps companies analyze their internal strengths and weaknesses. 
D)  It functions on the premise that firms should downsize to regain market share. 
E)  It is a useful device for segregating customers into distinct categories. 
A)  It classifies SBUs into four distinct categories. 
B)  It is a useful device for identifying growth opportunities. 
C)  It helps companies analyze their internal strengths and weaknesses. 
D)  It functions on the premise that firms should downsize to regain market share. 
E)  It is a useful device for segregating customers into distinct categories.

Question 16

"At Trader Joe's, our mission is to provide all our customers the best food and beverage values to be found anywhere, and the information to make informed buying decisions." This is a product-oriented business definition.

Accepted Answer

A) True 
 B)False

Question 17

What is the difference between marketing planning and marketing implementation?

Accepted Answer

Whereas marketing planning add

Question 18

Which of the following is the first step in strategic planning?

Accepted Answer

A)  setting short-term goals 
B)  developing the business portfolio 
C)  defining the organizational mission 
D)  formulating the key marketing strategies 
E)  identifying the organization's weaknesses and the threats it faces 
A)  setting short-term goals 
B)  developing the business portfolio 
C)  defining the organizational mission 
D)  formulating the key marketing strategies 
E)  identifying the organization's weaknesses and the threats it faces

Question 19

A mission statement is a document embodying an organization's short-term goals.

Accepted Answer

A) True 
 B)False

Question 20

________ refers to measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved.

Accepted Answer

A)  Marketing control 
B)  Marketing implementation 
C)  Satisficing 
D)  Prospecting 
E)  Benchmarking 
A)  Marketing control 
B)  Marketing implementation 
C)  Satisficing 
D)  Prospecting 
E)  Benchmarking

________ measures the profits generated by investments in marketing activities.

Which of the following is an element of the marketing mix?

________ involves looking at whether a company's key action plans are well-matched to its opportunities.

The BCG matrix approach is problematic in that it ________.

The process of evaluating each market segment's attractiveness and selecting one or more segments to enter is known as ________.

Which of the following is a portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification?

"At Joe's Diner, we serve great burgers" is a product-oriented business definition.

Which of the following best describes a strategic business unit (SBU)?

Return on marketing investment refers to the net return from a marketing investment divided by the costs of the marketing investment.

________ are low-share business units in high-growth markets that require a lot of cash to hold their share.

Which of the following is true with regard to a SWOT analysis?

Arrow is "a different kind of company, manufacturing a different kind of a car"; the RoadPro is "like nothing else." Statements such as these reflect a firm's ________.

The major activity in strategic planning is ________, whereby management evaluates the products and businesses that make up the company.

In a SWOT analysis, ________ include favorable trends in the external environment.

Which of the following is true with regard to the product/expansion grid?

"At Trader Joe's, our mission is to provide all our customers the best food and beverage values to be found anywhere, and the information to make informed buying decisions." This is a product-oriented business definition.

What is the difference between marketing planning and marketing implementation?

Which of the following is the first step in strategic planning?

A mission statement is a document embodying an organization's short-term goals.

________ refers to measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved.

Marketing: Creating and Capturing Customer Value

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

New-Product Development and Product Life Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 2: Company and Marketing Strategy: Partnering to Build Customer Relationships

________ measures the profits generated by investments in marketing activities.

Which of the following is an element of the marketing mix?

________ involves looking at whether a company's key action plans are well-matched to its opportunities.

The BCG matrix approach is problematic in that it ________.

The process of evaluating each market segment's attractiveness and selecting one or more segments to enter is known as ________.

Which of the following is a portfolio-planning tool for identifying company growth opportunities through market penetration, market development, product development, or diversification?

"At Joe's Diner, we serve great burgers" is a product-oriented business definition.

Which of the following best describes a strategic business unit (SBU)?

Return on marketing investment refers to the net return from a marketing investment divided by the costs of the marketing investment.

________ are low-share business units in high-growth markets that require a lot of cash to hold their share.

Which of the following is true with regard to a SWOT analysis?

Arrow is "a different kind of company, manufacturing a different kind of a car"; the RoadPro is "like nothing else." Statements such as these reflect a firm's ________.

The major activity in strategic planning is ________, whereby management evaluates the products and businesses that make up the company.

In a SWOT analysis, ________ include favorable trends in the external environment.

Which of the following is true with regard to the product/expansion grid?

"At Trader Joe's, our mission is to provide all our customers the best food and beverage values to be found anywhere, and the information to make informed buying decisions." This is a product-oriented business definition.

What is the difference between marketing planning and marketing implementation?

Which of the following is the first step in strategic planning?

A mission statement is a document embodying an organization's short-term goals.

________ refers to measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that the objectives are achieved.

Marketing: Creating and Capturing Customer Value

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

New-Product Development and Product Life Cycle Strategies

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters