Question 1

Based on the work by the Boston Consulting Group,products with a dominant share of the market and good prospects for growth are

Accepted Answer

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

Question 2

Corporate strategy determines the means for utilizing resources in the functional areas of business to reach the organization's goals.

Accepted Answer

A) True 
 B)False

Question 3

Scenario 2.1
Use the following to answer the questions.
Southwest Airlines has a history of being able to retain its employees due to the atmosphere and culture of the company.Employees have been known to dress up in costume on an airplane,engage in "games" with the passengers,and generally provide a fun atmosphere for traveling.While other airlines have low rates of customer satisfaction,Southwest tends to maintain a high rating with its customers.Recent gas price hikes have caused most airlines to charge for checked luggage and to fill every flight to its maximum,adding to the negative experience of airline travel.Southwest keeps its costs low through several methods,one being that they do not serve meals on flights,or provide pre-boarding passes.The typical flight is two hours or less and occurs between several selected cities rather than flying to practically anywhere in the country.Southwest is known for its low fares,its dependability,and its on-time flights.
-Refer to Scenario 2.1.The fact that Southwest Airlines has a history of being able to retain its employees is a(n)____ in its SWOT analysis.This low turnover creates more knowledgeable and satisfied employees,a potential _______.

Accepted Answer

A) weakness;opportunity 
B) strength;competitive advantage 
C) threat;market opportunity 
D) opportunity;competitive advantage 
E) strength;market opportunity

Question 4

Jason,a 17-year old high school student,wants to buy a pack of Marlboro Lights.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 buy.

Accepted Answer

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

Question 5

The marketing control process does not monitor the activities of external sources of marketing assistance.

Accepted Answer

A) True 
 B)False

Question 6

Electronic marketing has greatly improved the ability of marketers to target individual customers.As a result,many feel that marketing's emphasis is shifting from share of market to share of

Accepted Answer

A) budget. 
B) consumer online time. 
C) customer. 
D) awareness. 
E) commitment.

Question 7

Rollins Steel Corporation,a leader in industrial supplies,has identified its auto battery unit as having a dominant market share;however,it has low prospects for growth.The unit currently generates more cash for Rollins 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) cash contributor. 
E) question mark.

Question 8

An organization's business goals should be derived from its

Accepted Answer

A) mission statement. 
B) strategic plan. 
C) strategic business plan. 
D) marketing plan. 
E) marketing strategy.

Question 9

The decisions made in creating a marketing mix are only as good as the organization's understanding of the target market.

Accepted Answer

A) True 
 B)False

Question 10

Marketing mix decisions must have two characteristics: consistency and timeliness.

Accepted Answer

A) True 
 B)False

Question 11

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

Accepted Answer

A) True 
 B)False

Question 12

____ 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

Question 13

Business decisions made in creating a marketing mix

Accepted Answer

A) are made before a target market is identified. 
B) are unchangeable once they are agreed upon by management. 
C) are only as good as the organization's understanding of the needs of the target market. 
D) usually take place when a strategic window is open. 
E) must always be consistent with the firm's opportunities.

Question 14

Marketing managers can take each of the following corrective actions for reducing a discrepancy between established performance standards and actual performance except

Accepted Answer

A) improving actual performance. 
B) reducing the performance standard. 
C) totally changing the performance standard. 
D) changing the marketing strategy. 
E) coordinating a new step in performance analysis.

Question 15

Marketing plans may be developed for strategic business units,product lines,individual products or brands,or specific markets.

Accepted Answer

A) True 
 B)False

Question 16

The marketing plan is

Accepted Answer

A) a plan of all aspects of an organization's business strategy. 
B) written differently for each SBU. 
C) a written document detailing activities to be performed to implement and control marketing actions. 
D) designed to specify not only marketing,but all other functional areas of business activities as well. 
E) updated only periodically.

Question 17

Realizing an increase in both the number of consumers who are environmentally-conscious and the number of consumers who are seeking vehicles that use less gasoline,several car manufacturers have developed hybrid automobiles.This is an example of identifying and capitalizing on a ____ while the strategic window is open.

Accepted Answer

A) marketing mix 
B) market opportunity 
C) objective 
D) requirement 
E) goal

Question 18

Which of the following statements about the marketing mix is incorrect?

Accepted Answer

A) The selection of the target market serves as the basis for the creation of the marketing mix. 
B) The elements of the marketing mix are sometimes referred to as marketing mix variables. 
C) Each element of the marketing mix must be precisely matched with the needs of the target market. 
D) Once a marketing mix has been created for a particular target market,it cannot be changed until a new strategic window opens. 
E) Each element of the marketing mix must be precisely matched with the other elements of the marketing mix.

Question 19

Discuss the different ways of organizing the marketing unit.

Accepted Answer

The answer of Discuss the different ways of organizing the...

Question 20

All marketing mix decisions must have two characteristics: ____ and ____.

Accepted Answer

A) consistency;flexibility 
B) consistency;rigidity 
C) formality;flexibility 
D) variability;flexibility 
E) formality;rigidity

Exam 2: Planning, Implementing, and Evaluating Marketing Strategies

Based on the work by the Boston Consulting Group,products with a dominant share of the market and good prospects for growth are

Corporate strategy determines the means for utilizing resources in the functional areas of business to reach the organization's goals.

Jason,a 17-year old high school student,wants to buy a pack of Marlboro Lights.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 buy.

The marketing control process does not monitor the activities of external sources of marketing assistance.

Electronic marketing has greatly improved the ability of marketers to target individual customers.As a result,many feel that marketing's emphasis is shifting from share of market to share of

An organization's business goals should be derived from its

The decisions made in creating a marketing mix are only as good as the organization's understanding of the target market.

Marketing mix decisions must have two characteristics: consistency and timeliness.

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

____ 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.

Business decisions made in creating a marketing mix

Marketing managers can take each of the following corrective actions for reducing a discrepancy between established performance standards and actual performance except

Marketing plans may be developed for strategic business units,product lines,individual products or brands,or specific markets.

The marketing plan is

Which of the following statements about the marketing mix is incorrect?

Discuss the different ways of organizing the marketing unit.

All marketing mix decisions must have two characteristics: and .