Question 1

The Boston Consulting Group's matrix is based on the:

Accepted Answer

A)  idea that a firm's market share and market attractiveness are the important factors for a marketing strategy. 
B)  assumption that a firm's actions have a profitable impact on marketing strategy. 
C)  business position and market attractiveness of the firm. 
D)  philosophy that a product's market growth rate and its market share are important determinants of its marketing strategy. 
E)  idea that a product's market growth rate and market attractiveness determine the marketing strategy. 
A)  idea that a firm's market share and market attractiveness are the important factors for a marketing strategy. 
B)  assumption that a firm's actions have a profitable impact on marketing strategy. 
C)  business position and market attractiveness of the firm. 
D)  philosophy that a product's market growth rate and its market share are important determinants of its marketing strategy. 
E)  idea that a product's market growth rate and market attractiveness determine the marketing strategy.

Question 2

Stars are profitable products that usually generate more cash than is required to maintain share.

Accepted Answer

A) True 
 B)False

Question 3

A outlines the scope of the business and such considerations as resource deployment, competitive advantages, and overall coordination of functional areas.

Accepted Answer

A)  mission statement 
B)  corporate strategy 
C)  business-unit strategy 
D)  marketing strategy 
E)  marketing mix 
A)  mission statement 
B)  corporate strategy 
C)  business-unit strategy 
D)  marketing strategy 
E)  marketing mix

Question 4

Jason, a 17-year old high school student, wants to buy a pack of cigarettes. He has the money to purchase them, but he is still not considered to be a market for the product due to his lack of to purchase the cigarettes.

Accepted Answer

A)  ability 
B)  willingness 
C)  authority 
D)  need 
E)  location 
A)  ability 
B)  willingness 
C)  authority 
D)  need 
E)  location

Question 5

The time lag between the performance of marketing activities and their results:

Accepted Answer

A)  limits the marketing manager's ability to measure the effectiveness of marketing activities. 
B)  facilitates the ability to measure performance. 
C)  increases the chance of accurate measurement. 
D)  limits the amount of money to be spent on measurement. 
E)  increases the likelihood of having a successful marketing mix. 
A)  limits the marketing manager's ability to measure the effectiveness of marketing activities. 
B)  facilitates the ability to measure performance. 
C)  increases the chance of accurate measurement. 
D)  limits the amount of money to be spent on measurement. 
E)  increases the likelihood of having a successful marketing mix.

Question 6

Aragon Steel Corporation, a leader in industrial supplies, has identified its auto battery unit as having a dominant market share. However, this unit has low prospects for growth. The unit currently generates more cash for Aragon Steel than is required to maintain its market share. According to the Boston Consulting Group, the auto battery unit would be classified as a .

Accepted Answer

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

Question 7

A competitive advantage is created when a company matches its core competency to the opportunities it has discovered in the market.

Accepted Answer

A) True 
 B)False

Question 8

Galaxo Hotels, an international chain of full service hotels, aims to have at least 90 percent of its customers express that they had memorable and satisfying experiences at the hotels. This is an example of .

Accepted Answer

A)  implementing the marketing mix 
B)  maintaining corporate identity 
C)  a marketing objective 
D)  a marketing strategy 
E)  a mission statement 
A)  implementing the marketing mix 
B)  maintaining corporate identity 
C)  a marketing objective 
D)  a marketing strategy 
E)  a mission statement

Question 9

In the context of evaluating marketing strategies, when performance standards exceed actual performance, a marketing strategy will be deemed effective.

Accepted Answer

A) True 
 B)False

Question 10

The analysis of strengths and weaknesses focuses on internal factors that give the organization certain advantages and disadvantages in meeting the needs of its target markets.

Accepted Answer

A) True 
 B)False

Question 11

The strategic planning process begins with:

Accepted Answer

A)  the creation of a marketing mix that will satisfy the needs of a particular market. 
B)  the development of marketing objectives and marketing strategies. 
C)  an analysis of the marketing environment. 
D)  the selection of an appropriate target market. 
E)  the development of a marketing plan. 
A)  the creation of a marketing mix that will satisfy the needs of a particular market. 
B)  the development of marketing objectives and marketing strategies. 
C)  an analysis of the marketing environment. 
D)  the selection of an appropriate target market. 
E)  the development of a marketing plan.

Question 12

The first component of a marketing plan is the SWOT analysis.

Accepted Answer

A) True 
 B)False

Question 13

The process of putting marketing strategies into action is called:

Accepted Answer

A)  marketing implementation. 
B)  marketing control. 
C)  market capitalization. 
D)  marketing auditing. 
E)  the marketing action plan. 
A)  marketing implementation. 
B)  marketing control. 
C)  market capitalization. 
D)  marketing auditing. 
E)  the marketing action plan.

Question 14

Scenario 2.2
Use the following to answer the questions.
EXperience Limited is a company which offers tours and vacations that include participation in an extreme sport, such as hang-gliding, bungee jumping, skydiving, and motocross. Adrian Moss, EXperience Limited's owner, has just finished developing the strategic plan, including marketing objective of growing his customer base by 15% during the coming year. He believes that the best way of reaching that objective is to advertise to the college-aged student. In the past, the majority of his sales have been to males under the age of 29, participating in hang-gliding and bungee jumping at various tourist locations. He wants to expand his skydiving and motocross tours, but isn't sure whether or not the expansion will be profitable. He currently has a database containing all the customers who have gone on a hang-gliding or bungee jumping vacation with his company.
-Refer to Scenario 2.2. The college students represent EXperience Limited's .

Accepted Answer

A)  internal customers 
B)  customer relationships 
C)  market share 
D)  market mix 
E)  target market 
A)  internal customers 
B)  customer relationships 
C)  market share 
D)  market mix 
E)  target market

Question 15

Differentiate between corporate strategy and marketing strategy.

Accepted Answer

Corporate strategy determines the means

Question 16

A marketing objective need not be consistent with the firm's overall objectives.

Accepted Answer

A) True 
 B)False

Question 17

Favorable conditions in the marketplace environment that could produce business rewards for the organization if acted upon properly are called:

Accepted Answer

A)  strengths. 
B)  market strategies. 
C)  market niches. 
D)  threats. 
E)  opportunities. 
A)  strengths. 
B)  market strategies. 
C)  market niches. 
D)  threats. 
E)  opportunities.

The Boston Consulting Group's matrix is based on the:

Stars are profitable products that usually generate more cash than is required to maintain share.

A outlines the scope of the business and such considerations as resource deployment, competitive advantages, and overall coordination of functional areas.

Jason, a 17-year old high school student, wants to buy a pack of cigarettes. He has the money to purchase them, but he is still not considered to be a market for the product due to his lack of to purchase the cigarettes.

The time lag between the performance of marketing activities and their results:

A competitive advantage is created when a company matches its core competency to the opportunities it has discovered in the market.

Galaxo Hotels, an international chain of full service hotels, aims to have at least 90 percent of its customers express that they had memorable and satisfying experiences at the hotels. This is an example of .

In the context of evaluating marketing strategies, when performance standards exceed actual performance, a marketing strategy will be deemed effective.

The analysis of strengths and weaknesses focuses on internal factors that give the organization certain advantages and disadvantages in meeting the needs of its target markets.

The strategic planning process begins with:

The first component of a marketing plan is the SWOT analysis.

The process of putting marketing strategies into action is called:

Differentiate between corporate strategy and marketing strategy.

A marketing objective need not be consistent with the firm's overall objectives.

Favorable conditions in the marketplace environment that could produce business rewards for the organization if acted upon properly are called:

Customer-Driven Strategic Marketing

The Marketing Environment, Social Responsibility, and Ethics

Marketing Research and Information Systems

Target Markets: Segmentation and Evaluation

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Product, Branding, and Packaging Concepts

Developing and Managing Goods and Services

Pricing Concepts and Management

Marketing Channels and Supply-Chain Management

Retailing, Direct Marketing, and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Filters

Exam 2: Planning, Implementing, and Evaluating Marketing Strategies

The Boston Consulting Group's matrix is based on the:

Stars are profitable products that usually generate more cash than is required to maintain share.

A outlines the scope of the business and such considerations as resource deployment, competitive advantages, and overall coordination of functional areas.

Jason, a 17-year old high school student, wants to buy a pack of cigarettes. He has the money to purchase them, but he is still not considered to be a market for the product due to his lack of to purchase the cigarettes.

The time lag between the performance of marketing activities and their results:

A competitive advantage is created when a company matches its core competency to the opportunities it has discovered in the market.

Galaxo Hotels, an international chain of full service hotels, aims to have at least 90 percent of its customers express that they had memorable and satisfying experiences at the hotels. This is an example of .

In the context of evaluating marketing strategies, when performance standards exceed actual performance, a marketing strategy will be deemed effective.

The analysis of strengths and weaknesses focuses on internal factors that give the organization certain advantages and disadvantages in meeting the needs of its target markets.

The strategic planning process begins with:

The first component of a marketing plan is the SWOT analysis.

The process of putting marketing strategies into action is called:

Differentiate between corporate strategy and marketing strategy.

A marketing objective need not be consistent with the firm's overall objectives.

Favorable conditions in the marketplace environment that could produce business rewards for the organization if acted upon properly are called:

Customer-Driven Strategic Marketing

The Marketing Environment, Social Responsibility, and Ethics

Marketing Research and Information Systems

Target Markets: Segmentation and Evaluation

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Product, Branding, and Packaging Concepts

Developing and Managing Goods and Services

Pricing Concepts and Management

Marketing Channels and Supply-Chain Management

Retailing, Direct Marketing, and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Filters