Question 1

Alex has been analyzing information from his company's database about customer purchasing habits, since he is responsible for the 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) Customer relationship management 
B) Electronic data interchange 
C) Business-to-consumer marketing 
D) Strategic partnerships 
E) The marketing concept

Question 2

Alicia, a product representative at Frito-Lay in Atlanta has received a call from a customer asking about a new product. The customer has a friend in Seattle who was just telling him about a new snack Frito-Lay has introduced that is selling rapidly. Alicia's office does not market this product, and at the present knows very little about it. She asks the customer if she can get back with him with more information. Alicia then calls product management in Texas. Based on this information, this firm is most likely organized according to which of the following?

Accepted Answer

A) Function 
B) Product 
C) Region 
D) Customer 
E) Market

Question 3

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

Accepted Answer

A) True 
 B)False

Question 4

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

Accepted Answer

A) True 
 B)False

Question 5

The Boston Consulting Group approach is based on a philosophy that a product's market growth rate and its market share relative to competition should be helpful in determining its marketing strategy.

Accepted Answer

A) True 
 B)False

Question 6

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.

Question 7

A strategic business unit is not self-supporting in terms of sales, markets, production, and other resources.

Accepted Answer

A) True 
 B)False

Question 8

How does a firm use a market opportunity to reach a particular target market?

Accepted Answer

The answer of How does a firm use a market...

Question 9

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

Question 10

L.L. Bean uses technology to help them identify specific customers, establish interactive dialogues with them to learn about their needs, and combine this information with their purchase histories to customize products to meet those needs. L.L. Bean is using the ____ approach.

Accepted Answer

A) target market positioning 
B) SWOT analysis 
C) customer relationship management 
D) total quality management 
E) internal marketing

Question 11

The strategic planning process begins with

Accepted Answer

A) development of an organizational mission statement. 
B) development of marketing strategy. 
C) analysis of the marketing environment. 
D) analysis of target markets. 
E) development of a marketing plan.

Question 12

A firm that wants to put more senior management personnel into the field, to get closer to customers, and to enable the company to respond more quickly and efficiently to competitors would probably organize its marketing unit on the basis of

Accepted Answer

A) functions. 
B) regions. 
C) customer types. 
D) markets. 
E) products.

Question 13

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 14

Sayed's employer is currently developing a new marketing strategy. The top managers have developed the marketing strategy and have given it to Sayed so that he can now develop an implementation plan. Sayed's company will most likely end up with which type of strategy?

Accepted Answer

A) Decentralized 
B) Centralized 
C) Rigid 
D) Intended 
E) Realized

Question 15

A marketing strategy is a written document that specifies the activities to be performed to implement and control a firm's marketing activities.

Accepted Answer

A) True 
 B)False

Question 16

A strategic window is

Accepted Answer

A) the right combination of circumstances and timing that permit an organization to take action to reach a particular target market. 
B) what determines the factors that are most important in making a market attractive or strong. 
C) customers' requirements or desired benefits. 
D) a temporary period of optimum fit between the key requirements of a market and the particular capabilities of a firm competing in that market. 
E) the process that seeks information about events and relationships in a company's outside environment.

Question 17

Each of the marketing mix elements must work together with the others.

Accepted Answer

A) True 
 B)False

Question 18

A ____ is created when a company matches its core competency to opportunities it has discovered in the marketplace.

Accepted Answer

A) market opportunity 
B) market requirement 
C) competitive advantage 
D) strategic window 
E) competitive opportunity

Question 19

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.

Question 20

Marketing planning consists of two major components: marketing objectives and a control process.

Accepted Answer

A) True 
 B)False

Exam 2: Planning Implementing and Evaluating Marketing Strategies

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

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

The Boston Consulting Group approach is based on a philosophy that a product's market growth rate and its market share relative to competition should be helpful in determining its marketing strategy.

The Boston Consulting Group's matrix is based on the

A strategic business unit is not self-supporting in terms of sales, markets, production, and other resources.

How does a firm use a market opportunity to reach a particular target market?

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.

L.L. Bean uses technology to help them identify specific customers, establish interactive dialogues with them to learn about their needs, and combine this information with their purchase histories to customize products to meet those needs. L.L. Bean is using the ____ approach.

The strategic planning process begins with

A firm that wants to put more senior management personnel into the field, to get closer to customers, and to enable the company to respond more quickly and efficiently to competitors would probably organize its marketing unit on the basis of

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

Sayed's employer is currently developing a new marketing strategy. The top managers have developed the marketing strategy and have given it to Sayed so that he can now develop an implementation plan. Sayed's company will most likely end up with which type of strategy?

A marketing strategy is a written document that specifies the activities to be performed to implement and control a firm's marketing activities.

A strategic window is

Each of the marketing mix elements must work together with the others.

A ____ is created when a company matches its core competency to opportunities it has discovered in the marketplace.

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

Marketing planning consists of two major components: marketing objectives and a control process.