Question 1

According to the Boston Consulting Group, marketers may classify their products as all of the following except

Accepted Answer

A) ​dogs. 
B) ​cash contributors. 
C) ​question marks. 
D) ​stars. 
E) ​cash cows. 
A) ​dogs. 
B) ​cash contributors. 
C) ​question marks. 
D) ​stars. 
E) ​cash cows.

Question 2

According to the text, a market is defined as

Accepted Answer

A) ​a place to buy products. 
B) ​the buyers of the products that a company develops, promotes, prices, and distributes. 
C) ​the specific group of customers on whom an organization focuses its marketing efforts. 
D) ​a group of individuals and/or organizations that have needs for products in a product class and have the ability, willingness, and authority to purchase those products. 
E) ​the percentage of a group of customers that actually buys a specific product from a specific company. 
A) ​a place to buy products. 
B) ​the buyers of the products that a company develops, promotes, prices, and distributes. 
C) ​the specific group of customers on whom an organization focuses its marketing efforts. 
D) ​a group of individuals and/or organizations that have needs for products in a product class and have the ability, willingness, and authority to purchase those products. 
E) ​the percentage of a group of customers that actually buys a specific product from a specific company.

Question 3

An organization's goals focus on the ends or results that the firm seeks.

Accepted Answer

A) True 
 B)False

Question 4

____ strategy determines the means for utilizing resources in the functional areas of marketing, production, finance, research and development, and human resources to achieve the organization's goals.

Accepted Answer

A) ​Corporate 
B) ​Business-unit 
C) ​Marketing 
D) ​Mission statement 
E) ​Marketing mix 
A) ​Corporate 
B) ​Business-unit 
C) ​Marketing 
D) ​Mission statement 
E) ​Marketing mix

Question 5

When the right combination of circumstances occurs at the right time to allow an organization to take action toward a target market, the firm is faced with a

Accepted Answer

A) ​market objective. 
B) ​market requirement. 
C) ​strategic market plan. 
D) ​market opportunity. 
E) ​corporate objective. 
A) ​market objective. 
B) ​market requirement. 
C) ​strategic market plan. 
D) ​market opportunity. 
E) ​corporate objective.

Question 6

Harley-Davidson's Harley Owner's Group (HOG) helps to foster strong relationships between riders and their motorcycles, giving it a(n) ____ over other motorcycle manufacturers.

Accepted Answer

A) controllable advantage​ 
B) ​uncontrollable competitive advantage 
C) ​sustainable marketing advantage 
D) ​effective competitive advantage 
E) ​sustainable competitive advantage 
A) controllable advantage​ 
B) ​uncontrollable competitive advantage 
C) ​sustainable marketing advantage 
D) ​effective competitive advantage 
E) ​sustainable competitive advantage

Question 7

Whenthe right combination of circumstances and timing permits an organization to take action to reach a particular target market, a core competency exists.

Accepted Answer

A) True 
 B)False

Question 8

One way that Honda evaluates its product and service level is by how well it ranks on the J. D. Power & Associates Sales Satisfaction Survey. In doing so, Honda is

Accepted Answer

A) ​controlling marketing activities. 
B) ​taking corrective action. 
C) ​empowering its employees. 
D) ​evaluating actual performance. 
E) ​setting performance standards. 
A) ​controlling marketing activities. 
B) ​taking corrective action. 
C) ​empowering its employees. 
D) ​evaluating actual performance. 
E) ​setting performance standards.

Question 9

The American Eagle chain of retail stores has a reputation as one of the "coolest" brands according to Teen Research Unlimited. Their stores feature quality merchandise, the latest trends, must-have styles, and the hottest deals for its shoppers. The retail stores are typically found in shopping malls across the country and are comfortable places to shop-featuring interesting displays, pop music, and bright lights. American Eagle's selection of denim is the most popular product appealing to both genders and has helped them achieve double-digit growth. Which of the following would most likely be the "best" target market for American Eagle?

Accepted Answer

A) Men and women aged 40 to 60 
B) Children aged 12 or under 
C) Mand women aged 16 to 22 
D) Active seniors-men and women aged 61 or older 
A) Men and women aged 40 to 60 
B) Children aged 12 or under 
C) Mand women aged 16 to 22 
D) Active seniors-men and women aged 61 or older

Question 10

In what ways does having a mission statement help an organization achieve its goals?

Accepted Answer

Once an organization has assessed its re

Question 11

The process of putting marketing strategies into action is called

Accepted Answer

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

Question 12

Define the four product categories used in the Boston Consulting Group (BCG) product-portfolio analysis.

Accepted Answer

One of the most helpful tools for a mark

Question 13

The ____________ section of the marketing planstates what the company wants to accomplish through marketing activities, using a(n) ___________ of where the firm stands in the market.

Accepted Answer

A) marketing objectives; performance evaluation 
B) marketing strategies; implementation timetable 
C) SWOT analysis; marketing concept 
D) marketing objectives; SWOT analysis 
E) environmental analysis; SWOT analysis 
A) marketing objectives; performance evaluation 
B) marketing strategies; implementation timetable 
C) SWOT analysis; marketing concept 
D) marketing objectives; SWOT analysis 
E) environmental analysis; SWOT analysis

Question 14

The strategic performance evaluation does not monitor the activities of external sources of marketing assistance.

Accepted Answer

A) True 
 B)False

Question 15

What is one way to analyze costs when conducting marketing cost analysis?

Accepted Answer

A) Use fixed costs to determine how to use marketing funds more effectively 
B) Contrast marketing costs to sales transactions 
C) Compare a company's costs with industry averages 
D) Divide sales transactions by fixed costs 
E) Compare its market share with the market share of competitors 
A) Use fixed costs to determine how to use marketing funds more effectively 
B) Contrast marketing costs to sales transactions 
C) Compare a company's costs with industry averages 
D) Divide sales transactions by fixed costs 
E) Compare its market share with the market share of competitors

Question 16

CyberCycle Inc. is preparing a written document specifying the activities to be performed to implement and control its marketing activities. This document is called the

Accepted Answer

A) profit plan. 
B) marketing program. 
C) strategic market program. 
D) strategic business plan. 
E) marketing plan. 
A) profit plan. 
B) marketing program. 
C) strategic market program. 
D) strategic business plan. 
E) marketing plan.

Question 17

You are preparing the marketing budget for the next fiscal year and the finance department staff has given you the following guidelines to follow when estimating certain aspects of the budget: You should allocate $250,000 for the total annual office expense for the marketing department.
For each marketing campaign that you plan to run, you should allocate $10,000 for supplies expense.
For each new product introduction that you plan to execute, you should allocate $5,000 for travel expenses.
You should allocate $25,000 for storage expenses for the entire year.
With respect to the costs included in the guidelines communicated from finance you can conclude that

Accepted Answer

A) ​office expense and travel expenses are both fixed costs. 
B) ​office expense and storage expenses are both variable costs. 
C) ​storage expenses and travel expenses are both variable costs. 
D) ​travel expenses and supplies expenses are variable costs. 
E) ​office expense and supplies expenses are fixed costs. 
A) ​office expense and travel expenses are both fixed costs. 
B) ​office expense and storage expenses are both variable costs. 
C) ​storage expenses and travel expenses are both variable costs. 
D) ​travel expenses and supplies expenses are variable costs. 
E) ​office expense and supplies expenses are fixed costs.

Question 18

You asked your stockbroker to consider buying some shares of Facebook, Inc. for your investment account. But, first you want to review the summary points in the SWOT analysis the stockbroker's firm did on the company. The following summary points were listed in the SWOT analysis: Facebook has a reputation as a market leader and it is quickly establishing a formidable brand loyalty amongst its users.
Because of its position in the industry, it risks incurring high costs associated with creating and marketing new products that are designed to perpetuate its industry leadership.
These summary points suggest

Accepted Answer

A) that Facebook's products are cash cows. 
B) that Facebook has a first-mover advantage. 
C) that Facebook's products are question marks. 
D) that Facebook has a superior marketing strategy versus its peers. 
E) that Facebook has a late-mover advantage. 
A) that Facebook's products are cash cows. 
B) that Facebook has a first-mover advantage. 
C) that Facebook's products are question marks. 
D) that Facebook has a superior marketing strategy versus its peers. 
E) that Facebook has a late-mover advantage.

Question 19

Your quarterly strategic planning meeting will be held next month. You will schedule all the brainstorming and discussion activities for the meeting in a sequence and structure consistent with the hierarchy of the traditional strategic planning process. ​
Which of the following sequence of activities should you schedule in order to be most consistent with the hierarchy of the traditional strategic planning process?

Accepted Answer

A) ​1: Develop functional area goals and objectives; 2: Complete a SWOT analysis for the company; 3: Develop business unit strategies; 4: Develop the company's mission and goals. 
B) ​1: Develop the company's mission and goals; 2: Develop business unit strategies; 3: Complete a SWOT analysis for the company; 4: Develop functional area goals and objectives. 
C) ​1: Complete an economic environment analysis; 2: Develop the company's mission and goals; 3: Develop business unit strategies; 4: Complete a SWOT analysis for each business unit; 5: Develop functional area goals and objectives. 
D) ​1: Complete a SWOT analysis for the company; 2: develop the company's mission and goals; 3: Develop business unit strategies; 4: Develop functional area goals and objectives. 
E) ​1: Develop the company's mission and goals; 2: Develop business unit strategies; 3: Complete an economic environment analysis; 4: Develop functional area goals and objectives. 
A) ​1: Develop functional area goals and objectives; 2: Complete a SWOT analysis for the company; 3: Develop business unit strategies; 4: Develop the company's mission and goals. 
B) ​1: Develop the company's mission and goals; 2: Develop business unit strategies; 3: Complete a SWOT analysis for the company; 4: Develop functional area goals and objectives. 
C) ​1: Complete an economic environment analysis; 2: Develop the company's mission and goals; 3: Develop business unit strategies; 4: Complete a SWOT analysis for each business unit; 5: Develop functional area goals and objectives. 
D) ​1: Complete a SWOT analysis for the company; 2: develop the company's mission and goals; 3: Develop business unit strategies; 4: Develop functional area goals and objectives. 
E) ​1: Develop the company's mission and goals; 2: Develop business unit strategies; 3: Complete an economic environment analysis; 4: Develop functional area goals and objectives.

Question 20

A group that has the willingness, ability, and authority to buy a product is a

Accepted Answer

A) ​market. 
B) ​consumer. 
C) ​strategic business unit. 
D) ​business customer. 
E) ​strategic window. 
A) ​market. 
B) ​consumer. 
C) ​strategic business unit. 
D) ​business customer. 
E) ​strategic window.

According to the Boston Consulting Group, marketers may classify their products as all of the following except

According to the text, a market is defined as

An organization's goals focus on the ends or results that the firm seeks.

____ strategy determines the means for utilizing resources in the functional areas of marketing, production, finance, research and development, and human resources to achieve the organization's goals.

When the right combination of circumstances occurs at the right time to allow an organization to take action toward a target market, the firm is faced with a

Harley-Davidson's Harley Owner's Group (HOG) helps to foster strong relationships between riders and their motorcycles, giving it a(n) ____ over other motorcycle manufacturers.

Whenthe right combination of circumstances and timing permits an organization to take action to reach a particular target market, a core competency exists.

One way that Honda evaluates its product and service level is by how well it ranks on the J. D. Power & Associates Sales Satisfaction Survey. In doing so, Honda is

In what ways does having a mission statement help an organization achieve its goals?

The process of putting marketing strategies into action is called

Define the four product categories used in the Boston Consulting Group (BCG) product-portfolio analysis.

The __ section of the marketing planstates what the company wants to accomplish through marketing activities, using a(n) _ of where the firm stands in the market.

The strategic performance evaluation does not monitor the activities of external sources of marketing assistance.

What is one way to analyze costs when conducting marketing cost analysis?

CyberCycle Inc. is preparing a written document specifying the activities to be performed to implement and control its marketing activities. This document is called the

A group that has the willingness, ability, and authority to buy a product is a

Customer-Driven Strategic Marketing

The Marketing Environment, Social Responsibility, and Ethics

Marketing Research and Information Systems

Target Market 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

According to the Boston Consulting Group, marketers may classify their products as all of the following except

According to the text, a market is defined as

An organization's goals focus on the ends or results that the firm seeks.

____ strategy determines the means for utilizing resources in the functional areas of marketing, production, finance, research and development, and human resources to achieve the organization's goals.

When the right combination of circumstances occurs at the right time to allow an organization to take action toward a target market, the firm is faced with a

Harley-Davidson's Harley Owner's Group (HOG) helps to foster strong relationships between riders and their motorcycles, giving it a(n) ____ over other motorcycle manufacturers.

Whenthe right combination of circumstances and timing permits an organization to take action to reach a particular target market, a core competency exists.

One way that Honda evaluates its product and service level is by how well it ranks on the J. D. Power & Associates Sales Satisfaction Survey. In doing so, Honda is

In what ways does having a mission statement help an organization achieve its goals?

The process of putting marketing strategies into action is called

Define the four product categories used in the Boston Consulting Group (BCG) product-portfolio analysis.

The ____________ section of the marketing planstates what the company wants to accomplish through marketing activities, using a(n) ___________ of where the firm stands in the market.

The strategic performance evaluation does not monitor the activities of external sources of marketing assistance.

What is one way to analyze costs when conducting marketing cost analysis?

CyberCycle Inc. is preparing a written document specifying the activities to be performed to implement and control its marketing activities. This document is called the

A group that has the willingness, ability, and authority to buy a product is a

Customer-Driven Strategic Marketing

The Marketing Environment, Social Responsibility, and Ethics

Marketing Research and Information Systems

Target Market 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

The __ section of the marketing planstates what the company wants to accomplish through marketing activities, using a(n) _ of where the firm stands in the market.