Question 1

Which of the following conclusions, if made by the external agency, will indicate the company's strength?

Accepted Answer

A) The market potential for packaged goods is high in Canada. 
B) Economic slowdowns do not have a significant impact in the wholesale food industry. 
C) The company has exclusive market reach in the packaged food industry. 
D) One of Arpin Stores' major competitors has recently gone bankrupt. 
E) Congress recently passed a bill to subsidize wholesale food manufacturers. 
A) The market potential for packaged goods is high in Canada. 
B) Economic slowdowns do not have a significant impact in the wholesale food industry. 
C) The company has exclusive market reach in the packaged food industry. 
D) One of Arpin Stores' major competitors has recently gone bankrupt. 
E) Congress recently passed a bill to subsidize wholesale food manufacturers.

Question 2

RON Inc.is a company that manufactures home appliances.The company has established a wide retail network to sell its products.As part of its growth strategy, the company launches a new subsidiary that manufactures office furniture.This is an example of the strategy.

Accepted Answer

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

Question 3

Which of the following is the first of the four Ps of marketing that creates value for customers?

Accepted Answer

A) place 
B) physical evidence 
C) promotion 
D) price 
E) product 
A) place 
B) physical evidence 
C) promotion 
D) price 
E) product

Question 4

Which of the following statements is true of the market development strategy?

Accepted Answer

A) A new product should be created to follow the market development strategy. 
B) The strategy focuses on segments that are not served by the firm currently. 
C) The strategy has its main focus on developing extremely innovative offerings. 
D) The product prices should be high in a market development strategy. 
E) Market development tactics include rewards programs and improved store atmospherics. 
A) A new product should be created to follow the market development strategy. 
B) The strategy focuses on segments that are not served by the firm currently. 
C) The strategy has its main focus on developing extremely innovative offerings. 
D) The product prices should be high in a market development strategy. 
E) Market development tactics include rewards programs and improved store atmospherics.

Question 5

A product enjoys significant market share in a high-growth industry.According to the BCG portfolio analysis, the product is called a:

Accepted Answer

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

Question 6

Which of the following is the final step in the marketing planning process of an organization?

Accepted Answer

A) performing a situational analysis of the organization 
B) identifying the opportunities that the organization has 
C) evaluating the business objectives of the organization 
D) evaluating the performance by using marketing metrics 
E) implementing the marketing mix within the organization 
A) performing a situational analysis of the organization 
B) identifying the opportunities that the organization has 
C) evaluating the business objectives of the organization 
D) evaluating the performance by using marketing metrics 
E) implementing the marketing mix within the organization

Question 7

Cadillac Escalade is a car model that Hertz targets to rent to:

Accepted Answer

A) single people who want to have fun. 
B) environmentally conscious customers. 
C) commercial customers. 
D) families who prefer a luxurious ride. 
E) couples who want to have a bit of fun. 
A) single people who want to have fun. 
B) environmentally conscious customers. 
C) commercial customers. 
D) families who prefer a luxurious ride. 
E) couples who want to have a bit of fun.

Question 8

Differentiate between relative market share and market growth rate.

Accepted Answer

Relative market share is a measure of th

Question 9

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

Accepted Answer

A) identifying a business's mission and objectives 
B) evaluating the performance of a marketing strategy 
C) analyzing a market by using marketing metrics 
D) segmenting, targeting, and positioning a market 
E) evaluating the present situation of a business 
A) identifying a business's mission and objectives 
B) evaluating the performance of a marketing strategy 
C) analyzing a market by using marketing metrics 
D) segmenting, targeting, and positioning a market 
E) evaluating the present situation of a business

Question 10

Roltech Limited is an Asian telecom company that operates GSM networks in six countries across South Asia.Roltech's top managers identify that the company's growth has been idle for a few years and decide to take these steps to promote growth: (1) Increase the spending on advertising and intensify promotional activities.(2) Open telecom companies in European markets such as Germany and Britain.(3) Introduce special tariffs to attract more customers from South Asian markets.Which of the following strategies have Roltech's top managers decided to adopt?

Accepted Answer

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

Question 11

Which of the following terms refers to a group of products that consumers are likely to use together or perceive as similar in some way?

Accepted Answer

A) product mix 
B) product line 
C) product portfolio 
D) niche market 
E) market mix 
A) product mix 
B) product line 
C) product portfolio 
D) niche market 
E) market mix

Question 12

Which of the following terms is used in the BCG product portfolio analysis to refer to a product that has high market share in a market characterized by low growth?

Accepted Answer

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

Question 13

A company sells its product through the Internet and hence is able to access a wide range of customers.This statement is indicative of the company's strength.

Accepted Answer

A) True 
 B)False

Question 14

Briefly explain the four Ps of marketing.

Accepted Answer

The four Ps are as follows:
• Product: P

Question 15

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

Accepted Answer

A) developing and implementing a marketing mix 
B) evaluating the performance of a marketing strategy 
C) taking corrective actions in a firm's marketing plan 
D) segmenting, targeting, and positioning a market 
E) defining the mission and objectives of a business 
A) developing and implementing a marketing mix 
B) evaluating the performance of a marketing strategy 
C) taking corrective actions in a firm's marketing plan 
D) segmenting, targeting, and positioning a market 
E) defining the mission and objectives of a business

Question 16

Nonprofit organizations state objectives and form mission statements.

Accepted Answer

A) True 
 B)False

Question 17

A SWOT analysis is performed during the phase of developing a marketing plan.

Accepted Answer

A) planning 
B) execution 
C) review 
D) control 
E) implementation 
A) planning 
B) execution 
C) review 
D) control 
E) implementation

Question 18

Which of the following is the growth strategy that offers a new product or service to a firm's current target market?

Accepted Answer

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

Question 19

A market penetration strategy generally requires:

Accepted Answer

A) development of a highly innovative product offering. 
B) entry to a new geographic market. 
C) lesser marketing efforts. 
D) reduced spending on advertising. 
E) intensified distribution efforts in existing markets. 
A) development of a highly innovative product offering. 
B) entry to a new geographic market. 
C) lesser marketing efforts. 
D) reduced spending on advertising. 
E) intensified distribution efforts in existing markets.

Question 20

Which of the following is the best example of using the market development strategy?

Accepted Answer

A) ABB Leather introduces its existing offering in a different market. 
B) Robert Technologies introduces a new product based on a modern technology. 
C) Apparo Retail announces a discount sale to increase its revenue. 
D) RSB Bank intensifies its advertising campaign to attract customers. 
E) Morko Chemicals invents a new vaccine and sells it around the globe. 
A) ABB Leather introduces its existing offering in a different market. 
B) Robert Technologies introduces a new product based on a modern technology. 
C) Apparo Retail announces a discount sale to increase its revenue. 
D) RSB Bank intensifies its advertising campaign to attract customers. 
E) Morko Chemicals invents a new vaccine and sells it around the globe.

Which of the following conclusions, if made by the external agency, will indicate the company's strength?

RON Inc.is a company that manufactures home appliances.The company has established a wide retail network to sell its products.As part of its growth strategy, the company launches a new subsidiary that manufactures office furniture.This is an example of the strategy.

Which of the following is the first of the four Ps of marketing that creates value for customers?

Which of the following statements is true of the market development strategy?

A product enjoys significant market share in a high-growth industry.According to the BCG portfolio analysis, the product is called a:

Which of the following is the final step in the marketing planning process of an organization?

Cadillac Escalade is a car model that Hertz targets to rent to:

Differentiate between relative market share and market growth rate.

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

Which of the following terms refers to a group of products that consumers are likely to use together or perceive as similar in some way?

Which of the following terms is used in the BCG product portfolio analysis to refer to a product that has high market share in a market characterized by low growth?

A company sells its product through the Internet and hence is able to access a wide range of customers.This statement is indicative of the company's strength.

Briefly explain the four Ps of marketing.

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

Nonprofit organizations state objectives and form mission statements.

A SWOT analysis is performed during the phase of developing a marketing plan.

Which of the following is the growth strategy that offers a new product or service to a firm's current target market?

A market penetration strategy generally requires:

Which of the following is the best example of using the market development strategy?

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 conclusions, if made by the external agency, will indicate the company's strength?

RON Inc.is a company that manufactures home appliances.The company has established a wide retail network to sell its products.As part of its growth strategy, the company launches a new subsidiary that manufactures office furniture.This is an example of the strategy.

Which of the following is the first of the four Ps of marketing that creates value for customers?

Which of the following statements is true of the market development strategy?

A product enjoys significant market share in a high-growth industry.According to the BCG portfolio analysis, the product is called a:

Which of the following is the final step in the marketing planning process of an organization?

Cadillac Escalade is a car model that Hertz targets to rent to:

Differentiate between relative market share and market growth rate.

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

Which of the following terms refers to a group of products that consumers are likely to use together or perceive as similar in some way?

Which of the following terms is used in the BCG product portfolio analysis to refer to a product that has high market share in a market characterized by low growth?

A company sells its product through the Internet and hence is able to access a wide range of customers.This statement is indicative of the company's strength.

Briefly explain the four Ps of marketing.

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

Nonprofit organizations state objectives and form mission statements.

A SWOT analysis is performed during the phase of developing a marketing plan.

Which of the following is the growth strategy that offers a new product or service to a firm's current target market?

A market penetration strategy generally requires:

Which of the following is the best example of using the market development strategy?

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