Question 1

Androme Business Products Co. distributes its business supply products through direct sales personnel. Recently, the company has established a monthly sales quota of $150,000 for each sales representative. This is an example of a(n):

Accepted Answer

A)  core competency. 
B)  strategic window. 
C)  evaluation standard. 
D)  performance indicator. 
E)  performance standard.

Question 2

A competitive advantage exists when a:

Accepted Answer

A)  firm matches a core competency to opportunities it has discovered in the marketplace. 
B)  firm compares the quality of its goods, services, or processes with that of its best-performing competitors. 
C)  combination of circumstances and timing allows a firm to reach an attractive target market. 
D)  firm observes a fit between the key requirements of a market and its own capabilities. 
E)  firm has a strong marketing plan.

Question 3

Adocell Inc., a multinational electronics company, purchased Plutolyte Co., a battery company, and now operates this division as a separate profit center within the firm. In this example, Plutolyte Co. is a typical example of a _____.

Accepted Answer

A)  strategic business unit 
B)  marketing program 
C)  non-profit sector 
D)  competitor 
E)  core competence

Question 4

When the managers at Logistics Pro are developing their strategic plan, they use a market orientation as a guide to ensure that is an integral part of the process.

Accepted Answer

A)  customer satisfaction 
B)  employee satisfaction 
C)  the best use of their marketing resources 
D)  the marketing mix 
E)  the marketing function

Question 5

Which of the following is a characteristic of a marketing objective?

Accepted Answer

A)  It is consistent with both business-unit and corporate strategies. 
B)  It is a verbal agreement, not in writing. 
C)  It is not written in measurable terms. 
D)  It does not specify a time frame for its accomplishment. 
E)  It clearly identifies how the marketing strategy will be implemented.

Question 6

Marketing planning and implementation are closely linked in successful businesses.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following is the most specific and detailed type of business strategy?

Accepted Answer

A)  Business-unit strategy 
B)  Marketing strategy 
C)  Corporate strategy 
D)  Customer service strategy 
E)  Tactical strategy

Question 8

The percentage of a market which actually buys a specific product from a specific company is referred to as that product's:

Accepted Answer

A)  market value. 
B)  target market. 
C)  market share. 
D)  market size. 
E)  market position.

Question 9

Andromeda Corp.'s new shampoo, Pearl, is faltering badly in the market. Andromeda's marketing personnel are unsure who is responsible for various marketing tasks, when these tasks are to be completed, or what resources have been allocated. Andromeda's marketing director, Carolyn Willis, said that the problem is that Pearl has the most poorly written she has ever seen.

Accepted Answer

A)  marketing plan 
B)  competitive plan 
C)  implementation plan 
D)  media schedule 
E)  product specification sheet

Question 10

Opportunities refer to barriers that could prevent the company from reaching its objectives.

Accepted Answer

A) True 
 B)False

Question 11

The assessment of an organization's strengths, weaknesses, opportunities, and threats is called .

Accepted Answer

A)  a SWOT analysis 
B)  benchmarking 
C)  total quality management 
D)  a PEST analysis 
E)  a portfolio analysis

Question 12

A long-term view, or vision, of what the organization wants to become is called a mission proclamation.

Accepted Answer

A) True 
 B)False

Question 13

In the context of the strategic planning process, the target market must be chosen after the organization adapts its
marketing mix to meet the customers' needs and preferences.

Accepted Answer

A) True 
 B)False

Question 14

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

Question 15

Alex has been analyzing the information from his company's database about customer purchasing habits since he is responsible for managing the growth of the industrial supply division of his company. Alex plans to use the information from his analysis to create new marketing strategies that will develop and sustain relationships with those customers who are more profitable for the company. What type of concept is Alex using?

Accepted Answer

A)  Strategic marketing management 
B)  Electronic data interchange 
C)  Business-to-consumer marketing 
D)  Strategic partnerships 
E)  The marketing concept

Question 16

Define strategic planning.

Accepted Answer

The answer of Define strategic planning....

Question 17

After discovering that consumers had concerns about fat and carbohydrates, Avolado's Pizza began offering a low- fat, low-carb pizza product. The creation of this new product was the result of:

Accepted Answer

A)  a sustainable competitive advantage. 
B)  a well-defined mission statement. 
C)  a core competency. 
D)  a market opportunity. 
E)  the company's sales orientation.

Question 18

The first component of a marketing plan is the:

Accepted Answer

A)  executive summary. 
B)  SWOT analysis. 
C)  performance evaluation. 
D)  environment analysis. 
E)  marketing implementation.

Question 19

A group of individuals or organizations that have needs for products in a product class and have the willingness, ability, and authority to purchase those products is called a(n):

Accepted Answer

A)  strategic window. 
B)  industry. 
C)  strategic business unit. 
D)  exchange. 
E)  market.

Question 20

The strategic planning process begins with a detailed analysis of the organization's strengths and weaknesses and the identification of opportunities and threats within the marketing environment.

Accepted Answer

A) True 
 B)False

Exam 2: Planning, Implementing, and Evaluating Marketing Strategies

Androme Business Products Co. distributes its business supply products through direct sales personnel. Recently, the company has established a monthly sales quota of $150,000 for each sales representative. This is an example of a(n) :

A competitive advantage exists when a:

Adocell Inc., a multinational electronics company, purchased Plutolyte Co., a battery company, and now operates this division as a separate profit center within the firm. In this example, Plutolyte Co. is a typical example of a _____.

When the managers at Logistics Pro are developing their strategic plan, they use a market orientation as a guide to ensure that is an integral part of the process.

Which of the following is a characteristic of a marketing objective?

Marketing planning and implementation are closely linked in successful businesses.

Which of the following is the most specific and detailed type of business strategy?

The percentage of a market which actually buys a specific product from a specific company is referred to as that product's:

Opportunities refer to barriers that could prevent the company from reaching its objectives.

The assessment of an organization's strengths, weaknesses, opportunities, and threats is called .

A long-term view, or vision, of what the organization wants to become is called a mission proclamation.

In the context of the strategic planning process, the target market must be chosen after the organization adapts its marketing mix to meet the customers' needs and preferences.

A 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.

Define strategic planning.

After discovering that consumers had concerns about fat and carbohydrates, Avolado's Pizza began offering a low- fat, low-carb pizza product. The creation of this new product was the result of:

The first component of a marketing plan is the:

A group of individuals or organizations that have needs for products in a product class and have the willingness, ability, and authority to purchase those products is called a(n) :

The strategic planning process begins with a detailed analysis of the organization's strengths and weaknesses and the identification of opportunities and threats within the marketing environment.