Question 1

Which of the following is NOT one of the forces that drive industry analysis?

Accepted Answer

A)  competitive rivalry 
B)  threat of new entrants 
C)  product-market evolution 
D)  bargaining power of buyers 
A)  competitive rivalry 
B)  threat of new entrants 
C)  product-market evolution 
D)  bargaining power of buyers

Question 2

The micro environment consists of larger societal forces that affect a company,such as demographic,economic,political,and cultural forces.

Accepted Answer

A) True 
 B)False

Question 3

Why is it important to conduct a situation assessment? What are the primary external factors to consider during a situation assessment?

Accepted Answer

Situation assessment involves monitoring

Question 4

Major strategic gains and losses will most likely occur at which stage of the product life cycle?

Accepted Answer

A)  introduction 
B)  maturity 
C)  decline 
D)  growth 
A)  introduction 
B)  maturity 
C)  decline 
D)  growth

Question 5

Which term refers to increases in unit costs as production increases?

Accepted Answer

A)  vicious circle 
B)  economies of scope 
C)  diseconomies of scale 
D)  experience curve effects 
A)  vicious circle 
B)  economies of scope 
C)  diseconomies of scale 
D)  experience curve effects

Question 6

Marketers should be aware of tax codes,operating rules,and guidelines that affect business and industry in a given society.This is the ________ context.

Accepted Answer

A)  social 
B)  political 
C)  economic 
D)  physical 
A)  social 
B)  political 
C)  economic 
D)  physical

Question 7

How do marketers benefit from understanding where a product and an industry are in the product life cycle?

Accepted Answer

Markets behave differently at different

Question 8

Which of the following is NOT a challenge presented to marketers by the product life cycle?

Accepted Answer

A)  Sales and profits for all products eventually decline. 
B)  It is difficult to plot the life cycle stages as a product goes through them. 
C)  A firm must be effective at adapting its marketing strategies for different life cycle stages. 
D)  Changing tastes and technologies affect the marketing of a product as it passes through life cycle stages. 
A)  Sales and profits for all products eventually decline. 
B)  It is difficult to plot the life cycle stages as a product goes through them. 
C)  A firm must be effective at adapting its marketing strategies for different life cycle stages. 
D)  Changing tastes and technologies affect the marketing of a product as it passes through life cycle stages.

Question 9

Marketers can most likely use the product life cycle concept as a tool for ________.

Accepted Answer

A)  predicting sales trends 
B)  targeting niche consumers 
C)  conducting advertising tests 
D)  collecting data for product analysis 
A)  predicting sales trends 
B)  targeting niche consumers 
C)  conducting advertising tests 
D)  collecting data for product analysis

Question 10

The product life cycle,scale effects,and market share effects are generalizations in strategic marketing that cannot be changed.

Accepted Answer

A) True 
 B)False

Question 11

In which stage of the product life cycle would share building most likely be difficult and lead to price competition?

Accepted Answer

A)  growth 
B)  decline 
C)  maturity 
D)  introduction 
A)  growth 
B)  decline 
C)  maturity 
D)  introduction

Question 12

For the most effective situation assessment,which of the following should occur first?

Accepted Answer

A)  determining a marketing mix 
B)  reviewing customer needs 
C)  evaluating technology 
D)  defining the market 
A)  determining a marketing mix 
B)  reviewing customer needs 
C)  evaluating technology 
D)  defining the market

Question 13

Why is it important to define the market when conducting a situation assessment?

Accepted Answer

Before assessing "the situation" it is n

Question 14

A broad,subjective search for trends across media and other environments is known as ________.

Accepted Answer

A)  targeting 
B)  coolhunting 
C)  positioning 
D)  data mining 
A)  targeting 
B)  coolhunting 
C)  positioning 
D)  data mining

Question 15

Findings about customers discovered through ________ techniques often lead to marketing opportunities.

Accepted Answer

A)  data mining 
B)  value networking 
C)  data warehousing 
D)  product branding 
A)  data mining 
B)  value networking 
C)  data warehousing 
D)  product branding

Question 16

According to the text,identifying customer insights is the first step in ________.

Accepted Answer

A)  implementing the marketing mix 
B)  maintaining economies of scale 
C)  discovering new markets 
D)  branding products 
A)  implementing the marketing mix 
B)  maintaining economies of scale 
C)  discovering new markets 
D)  branding products

Question 17

Which of the following would most likely lower unit costs while increasing reliability and conformance quality?

Accepted Answer

A)  network effects 
B)  economies of scope 
C)  diseconomies of scale 
D)  learning curve effects 
A)  network effects 
B)  economies of scope 
C)  diseconomies of scale 
D)  learning curve effects

Question 18

Using interviews and ethnographies to gather customer insights produces general findings that can be applied to the mass market.

Accepted Answer

A) True 
 B)False

Exam 2: Situation Assessment - the External Environment

Which of the following is NOT one of the forces that drive industry analysis?

The micro environment consists of larger societal forces that affect a company,such as demographic,economic,political,and cultural forces.

Why is it important to conduct a situation assessment? What are the primary external factors to consider during a situation assessment?

Major strategic gains and losses will most likely occur at which stage of the product life cycle?

Which term refers to increases in unit costs as production increases?

Marketers should be aware of tax codes,operating rules,and guidelines that affect business and industry in a given society.This is the ________ context.

How do marketers benefit from understanding where a product and an industry are in the product life cycle?

Which of the following is NOT a challenge presented to marketers by the product life cycle?

Marketers can most likely use the product life cycle concept as a tool for ________.

The product life cycle,scale effects,and market share effects are generalizations in strategic marketing that cannot be changed.

In which stage of the product life cycle would share building most likely be difficult and lead to price competition?

For the most effective situation assessment,which of the following should occur first?

Why is it important to define the market when conducting a situation assessment?

A broad,subjective search for trends across media and other environments is known as ________.

Findings about customers discovered through ________ techniques often lead to marketing opportunities.

According to the text,identifying customer insights is the first step in ________.

Which of the following would most likely lower unit costs while increasing reliability and conformance quality?

Using interviews and ethnographies to gather customer insights produces general findings that can be applied to the mass market.

Overview of Marketing Strategy the Strategic Marketing Process

Situation Assessment - the Company

Strategy Formation

Implementation

Planning,assessment,and Adjustment

Note : Market Definition

Note : Context: Pest Analysis

Note : Customer Assessment - Trends and Insights

Note : Consumer and Organizational Buyer Behavior

Note : Competitor Analysis - Competitive Intelligence

Note : Company Assessment - Missions and Visions

Note : Company Assessment - the Value Chain

Note : Industry Analysis

Note : the Product Life Cycle

Note : Experience Curve Effects on Cost Reduction

Note : Economies and Diseconomies of Scale

Note : Economies of Scope-Synergies and Virtuous Circles

Note : Market-Share Effects

Note : Scenario Analysis

Note : the Marketing Concept

Note : What Is a Marketing Strategy

Note : Generic Strategies - Advantage and Scope

Note : Generic Strategies - the Value Map

Note : Generic Strategies - Product-Market Growth Strategies

Note : Specific Marketing Strategies

Note : Market Segmentation

Note : Loyalty-Based Marketing,customer Acquisition,and Customer Retention

Note : Customer Lifetime Value

Note : Competitive Advantages

Note : Swot Analysis

Note : Targeting

Note : Positioning

Note : Customer-Oriented Market Research

Note : Brands and Branding

Note : Products - New Product Development

Note : Products - Innovations

Note : Products - Product Portfolios

Note : Pricing Strategies

Note : Promotion and People - Integrated Marketing Communications

Note : Place - Distribution

Note : Budgets,forecasts,and Objectives

Note : Staircase Analysis

Note : Assessment and Adjustment

Filters