Question 1

Which of the following is an activity in the control phase of a marketing plan?

Accepted Answer

A) developing and implementing the marketing mix 
B) segmenting, targeting, and positioning a market 
C) evaluating the performance of a marketing strategy 
D) identifying the opportunities present in a market 
E) evaluating the present situation of a business 
A) developing and implementing the marketing mix 
B) segmenting, targeting, and positioning a market 
C) evaluating the performance of a marketing strategy 
D) identifying the opportunities present in a market 
E) evaluating the present situation of a business

Question 2

Which of the following is considered a company's weakness?

Accepted Answer

A) changes in consumer behaviour 
B) lack of financial resources 
C) unfavourable political changes 
D) natural disasters that affect the company 
E) entry of new players into the industry 
A) changes in consumer behaviour 
B) lack of financial resources 
C) unfavourable political changes 
D) natural disasters that affect the company 
E) entry of new players into the industry

Question 3

What is the next step that a business organization has to perform after completing the situation analysis?

Accepted Answer

A) identifying the organization's objectives 
B) evaluating the effectiveness of the marketing plan 
C) evaluating market performance 
D) conducting segmentation, targeting, and positioning 
E) setting marketing objectives for the organization 
A) identifying the organization's objectives 
B) evaluating the effectiveness of the marketing plan 
C) evaluating market performance 
D) conducting segmentation, targeting, and positioning 
E) setting marketing objectives for the organization

Question 4

Briefly explain the final step in the marketing planning process.

Accepted Answer

The final step in the planning process i

Question 5

The fourth P of the marketing mix, promotion, is used by marketers to:

Accepted Answer

A) communicate the value of their offering. 
B) create value for their offering. 
C) deliver their offering effectively to customers. 
D) create value for customers' money. 
E) deliver the services associated with their offering. 
A) communicate the value of their offering. 
B) create value for their offering. 
C) deliver their offering effectively to customers. 
D) create value for customers' money. 
E) deliver the services associated with their offering.

Question 6

IBF Industries Inc.is a firm that manufactures and markets kitchen appliances in Italy.The company decides to introduce its existing range of products in Germany.This scenario is an example of the strategy.

Accepted Answer

A) diversification 
B) market development 
C) market penetration 
D) product development 
E) product intensification 
A) diversification 
B) market development 
C) market penetration 
D) product development 
E) product intensification

Question 7

A SWOT analysis is:

Accepted Answer

A) typically performed by lower level managers. 
B) a form of operational analysis. 
C) a day-to-day control measure. 
D) designed to help the firm determine its strengths. 
E) performed after implementing the marketing mix. 
A) typically performed by lower level managers. 
B) a form of operational analysis. 
C) a day-to-day control measure. 
D) designed to help the firm determine its strengths. 
E) performed after implementing the marketing mix.

Question 8

Paramount Electronics manufactures electronic measuring tools.The company invents a new type of multi-meter for electronic measurements and introduces the product to its current customers.Which of the following strategies is Paramount employing?

Accepted Answer

A) product development 
B) market development 
C) diversification 
D) market penetration 
E) product intensification 
A) product development 
B) market development 
C) diversification 
D) market penetration 
E) product intensification

Question 9

Which of the following is a valid observation of strategic business unit (SBU) planning?

Accepted Answer

A) It involves establishing a portfolio of products for the whole corporation. 
B) It involves medium to long-term planning activities. 
C) It applies to small firms with a single business unit. 
D) It refers to developing marketing plans for a specific brand. 
E) Its strategic focus is on defining a company's mission. 
A) It involves establishing a portfolio of products for the whole corporation. 
B) It involves medium to long-term planning activities. 
C) It applies to small firms with a single business unit. 
D) It refers to developing marketing plans for a specific brand. 
E) Its strategic focus is on defining a company's mission.

Question 10

A product that serves a low-growth market but has a high market share in the industry is an example of a:

Accepted Answer

A) star 
B) dog 
C) question mark 
D) champion 
E) cash cow 
A) star 
B) dog 
C) question mark 
D) champion 
E) cash cow

Question 11

Argos Airlines offers loyalty air miles to its regular customers.The company believes that this will build loyalty and is the most effective way of obtaining a competitive advantage.This company is focusing on excellence.

Accepted Answer

A) operational 
B) product 
C) process 
D) locational 
E) customer 
A) operational 
B) product 
C) process 
D) locational 
E) customer

Question 12

Explain the four major growth strategies that organizations adopt.

Accepted Answer

Students might draw the diagram given in

Question 13

What is a market segment?

Accepted Answer

A market segment is

Question 14

Zorbo Furniture is a firm that manufactures and markets wooden furniture.One of the departments in the firm is devoted to the production and marketing of office furniture.The department is managed independently from the other departments and is held accountable for its profitability.The office furniture department is an example of a(n):

Accepted Answer

A) joint venture. 
B) executive department. 
C) business alliance. 
D) subsidiary firm. 
E) strategic business unit. 
A) joint venture. 
B) executive department. 
C) business alliance. 
D) subsidiary firm. 
E) strategic business unit.

Question 15

Artech Computers is a firm that manufactures desktop computers and computer peripherals.It focuses on minimizing wastage and gives importance to efficient supply chain procedures.This firm is attempting to obtain excellence.

Accepted Answer

A) product 
B) customer 
C) operational 
D) procedural 
E) locational 
A) product 
B) customer 
C) operational 
D) procedural 
E) locational

Question 16

MM Manufacturing is a small-scale firm that manufactures optical cables.The firm's market share is significantly lower than most other players in the market.However, optical cable manufacturing is a high-growth market.According to the BCG matrix, the company's offering is a:

Accepted Answer

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

Question 17

Which of the following is the growth strategy that employs the existing marketing offering to reach new market segments?

Accepted Answer

A) market development 
B) product development 
C) diversification 
D) market penetration 
E) product intensification 
A) market development 
B) product development 
C) diversification 
D) market penetration 
E) product intensification

Question 18

Which of the following is an example of the diversification strategy?

Accepted Answer

A) A firm introduces its current products to a new set of customers. 
B) A company markets an innovative product by using its existing network. 
C) A firm introduces a new product to a segment that is currently not served. 
D) A company exports its products to a new geographical location. 
E) A firm intensifies its marketing activities to increase the sale of its current offerings. 
A) A firm introduces its current products to a new set of customers. 
B) A company markets an innovative product by using its existing network. 
C) A firm introduces a new product to a segment that is currently not served. 
D) A company exports its products to a new geographical location. 
E) A firm intensifies its marketing activities to increase the sale of its current offerings.

Question 19

An organization appoints a marketing manager to study the effectiveness of the marketing plan that it has implemented.The manager analyzes organizational performance using various matrices and gives a final report.This organization is in the phase of marketing plan.

Accepted Answer

A) defining 
B) planning 
C) designing 
D) control 
E) implementation 
A) defining 
B) planning 
C) designing 
D) control 
E) implementation

Question 20

Which of the following refers to the process of classifying a market into distinct groups of customers where each individual group has similar needs, wants, or characteristics?

Accepted Answer

A) consumer branding 
B) positioning 
C) marketing bias 
D) segmentation 
E) proximity mapping 
A) consumer branding 
B) positioning 
C) marketing bias 
D) segmentation 
E) proximity mapping

Which of the following is an activity in the control phase of a marketing plan?

Which of the following is considered a company's weakness?

What is the next step that a business organization has to perform after completing the situation analysis?

Briefly explain the final step in the marketing planning process.

The fourth P of the marketing mix, promotion, is used by marketers to:

IBF Industries Inc.is a firm that manufactures and markets kitchen appliances in Italy.The company decides to introduce its existing range of products in Germany.This scenario is an example of the strategy.

A SWOT analysis is:

Paramount Electronics manufactures electronic measuring tools.The company invents a new type of multi-meter for electronic measurements and introduces the product to its current customers.Which of the following strategies is Paramount employing?

Which of the following is a valid observation of strategic business unit (SBU) planning?

A product that serves a low-growth market but has a high market share in the industry is an example of a:

Argos Airlines offers loyalty air miles to its regular customers.The company believes that this will build loyalty and is the most effective way of obtaining a competitive advantage.This company is focusing on excellence.

Explain the four major growth strategies that organizations adopt.

What is a market segment?

Artech Computers is a firm that manufactures desktop computers and computer peripherals.It focuses on minimizing wastage and gives importance to efficient supply chain procedures.This firm is attempting to obtain excellence.

MM Manufacturing is a small-scale firm that manufactures optical cables.The firm's market share is significantly lower than most other players in the market.However, optical cable manufacturing is a high-growth market.According to the BCG matrix, the company's offering is a:

Which of the following is the growth strategy that employs the existing marketing offering to reach new market segments?

Which of the following is an example of the diversification strategy?

An organization appoints a marketing manager to study the effectiveness of the marketing plan that it has implemented.The manager analyzes organizational performance using various matrices and gives a final report.This organization is in the phase of marketing plan.

Which of the following refers to the process of classifying a market into distinct groups of customers where each individual group has similar needs, wants, or characteristics?

Developing a Marketing Strategies and a Marketing Plan

Understanding the Marketplace Consumer Behaviour

Business-To-Business Marketing

Targeting the Marketplace Segmentation, Targeting, and Positioning

Marketing Research

Value Creation Developing New Products

Product, Branding, and Packaging Decisions

Services the Intangible Product

Transacting Value Pricing Concepts and Strategies : Establishing Value

Value Delivery : Designing the Distribution Channel and Supply Chain Marketing Channels

Retailing and Multichanneled Marketing

Value Communication Integrated Marketing Communications

Advertising, Sales Promotions, and Personal Selling

Social and Mobile Marketing

Marketing in the Global Environment Global Marketing

Ethics and Socially Responsible Marketing

Filters

Exam 2: Analyzing the Marketing Environment

Which of the following is an activity in the control phase of a marketing plan?

Which of the following is considered a company's weakness?

What is the next step that a business organization has to perform after completing the situation analysis?

Briefly explain the final step in the marketing planning process.

The fourth P of the marketing mix, promotion, is used by marketers to:

IBF Industries Inc.is a firm that manufactures and markets kitchen appliances in Italy.The company decides to introduce its existing range of products in Germany.This scenario is an example of the strategy.

A SWOT analysis is:

Paramount Electronics manufactures electronic measuring tools.The company invents a new type of multi-meter for electronic measurements and introduces the product to its current customers.Which of the following strategies is Paramount employing?

Which of the following is a valid observation of strategic business unit (SBU) planning?

A product that serves a low-growth market but has a high market share in the industry is an example of a:

Argos Airlines offers loyalty air miles to its regular customers.The company believes that this will build loyalty and is the most effective way of obtaining a competitive advantage.This company is focusing on excellence.

Explain the four major growth strategies that organizations adopt.

What is a market segment?

Artech Computers is a firm that manufactures desktop computers and computer peripherals.It focuses on minimizing wastage and gives importance to efficient supply chain procedures.This firm is attempting to obtain excellence.

MM Manufacturing is a small-scale firm that manufactures optical cables.The firm's market share is significantly lower than most other players in the market.However, optical cable manufacturing is a high-growth market.According to the BCG matrix, the company's offering is a:

Which of the following is the growth strategy that employs the existing marketing offering to reach new market segments?

Which of the following is an example of the diversification strategy?

An organization appoints a marketing manager to study the effectiveness of the marketing plan that it has implemented.The manager analyzes organizational performance using various matrices and gives a final report.This organization is in the phase of marketing plan.

Which of the following refers to the process of classifying a market into distinct groups of customers where each individual group has similar needs, wants, or characteristics?

Developing a Marketing Strategies and a Marketing Plan

Understanding the Marketplace Consumer Behaviour

Business-To-Business Marketing

Targeting the Marketplace Segmentation, Targeting, and Positioning

Marketing Research

Value Creation Developing New Products

Product, Branding, and Packaging Decisions

Services the Intangible Product

Transacting Value Pricing Concepts and Strategies : Establishing Value

Value Delivery : Designing the Distribution Channel and Supply Chain Marketing Channels

Retailing and Multichanneled Marketing

Value Communication Integrated Marketing Communications

Advertising, Sales Promotions, and Personal Selling

Social and Mobile Marketing

Marketing in the Global Environment Global Marketing

Ethics and Socially Responsible Marketing

Filters