Question 1

Which of the following is true with regard to strategic planning?

Accepted Answer

A)  At the corporate level, the company starts the strategic planning process by determining what portfolio of businesses and products is best for the company. 
B)  A strategic plan deals with a company's short-term goals. 
C)  The focus of strategic planning is to define a game plan for long-run survival and growth. 
D)  The strategic plan is a statement of an organization's purpose. 
E)  Strategic planning involves identifying segments of consumers with identical preferences.

Question 2

Teenagers are expected to respond in a similar way to a set of marketing efforts. In other words, this group represents a ________.

Accepted Answer

A)  channel intermediary 
B)  line extension 
C)  market segment 
D)  product attribute 
E)  brand personality

Question 3

The major activity in strategic planning is product innovation.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following is true with regard to the product/expansion grid?

Accepted Answer

A)  It classifies SBUs into four distinct categories. 
B)  It is a useful device for identifying growth opportunities. 
C)  It helps companies analyze their internal strengths and weaknesses. 
D)  It functions on the premise that firms should downsize to regain market share. 
E)  It is a useful device for segregating customers into distinct categories.

Question 5

Marketing ________ addresses the what and why of marketing activities, while marketing ________ addresses the who, where, when, and how.

Accepted Answer

A)  analysis; planning 
B)  planning; implementation 
C)  implementation; planning 
D)  organization; implementation 
E)  control; planning

Question 6

Crocus, a gift store, specializes in serving customer segments that major competitors overlook and ignore. Which of the following best describes Crocus?

Accepted Answer

A)  market follower 
B)  market challenger 
C)  early adopter 
D)  market nicher 
E)  laggard

Question 7

What are the various components of the value delivery network of a company?

Accepted Answer

The answer of What are the various components of the...

Question 8

The purpose of strategic planning is to find ways in which your company can best use its strengths to take advantage of attractive opportunities in the environment.

Accepted Answer

A) True 
 B)False

Question 9

Paul Robinson has identified a group of potential customers who seem to respond in a similar way to a series of magazine and radio advertisements for his company's product. Paul has identified a ________.

Accepted Answer

A)  target market 
B)  market segment 
C)  niche market 
D)  product attribute 
E)  product design

Question 10

Modern strategic planning ________.

Accepted Answer

A)  exclusively consists of a company's short-term goals 
B)  is decentralized 
C)  does not involve cross-functional teams 
D)  does not take the overall mission of the company into consideration 
E)  is highly centralized

Question 11

The managers of Arrow, an American retail chain, are currently reviewing new demographic markets to sell the firm's current products. This is an example of ________.

Accepted Answer

A)  market penetration 
B)  product development 
C)  mass marketing 
D)  market development 
E)  product adaptation

Question 12

Elmo Corp., a manufacturer of personal computers and printers, recently established an office furniture exporting business. This is an example of ________.

Accepted Answer

A)  niche marketing 
B)  local marketing 
C)  diversification 
D)  product adaptation 
E)  downsizing

Question 13

Cleats, Unlimited developed a new style of soccer shoe. This is an example of ________.

Accepted Answer

A)  product development 
B)  market development 
C)  market penetration 
D)  diversification 
E)  product differentiation

Question 14

A ________ documents an organization's purpose-what it wants to accomplish in the larger environment.

Accepted Answer

A)  vision statement 
B)  mission statement 
C)  business portfolio 
D)  value proposition 
E)  product strategy

Question 15

A product's position is the place it occupies relative to competitors' products in consumers' minds.

Accepted Answer

A) True 
 B)False

Question 16

What are stars according to the BCG growth-share matrix?

Accepted Answer

The answer of What are stars according to the BCG...

Question 17

The four Cs concept adopts the buyer's view of the market.

Accepted Answer

A) True 
 B)False

Question 18

Phoenix, a popular coffee shop chain in North America, recently opened 400 stores to cater to its rapidly increasing number of patrons. This exemplifies ________.

Accepted Answer

A)  product differentiation 
B)  product development 
C)  diversification 
D)  market penetration 
E)  market segmentation

Question 19

________ are low-share business units in high-growth markets that require a lot of cash to hold their share.

Accepted Answer

A)  Stars 
B)  Dogs 
C)  Question marks 
D)  Cash cows 
E)  Bears

Question 20

The process of arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers is known as ________.

Accepted Answer

A)  market segmentation 
B)  differentiation 
C)  target marketing 
D)  market targeting 
E)  positioning

Exam 2: Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Which of the following is true with regard to strategic planning?

Teenagers are expected to respond in a similar way to a set of marketing efforts. In other words, this group represents a ________.

The major activity in strategic planning is product innovation.

Which of the following is true with regard to the product/expansion grid?

Marketing addresses the what and why of marketing activities, while marketing addresses the who, where, when, and how.

Crocus, a gift store, specializes in serving customer segments that major competitors overlook and ignore. Which of the following best describes Crocus?

What are the various components of the value delivery network of a company?

The purpose of strategic planning is to find ways in which your company can best use its strengths to take advantage of attractive opportunities in the environment.

Paul Robinson has identified a group of potential customers who seem to respond in a similar way to a series of magazine and radio advertisements for his company's product. Paul has identified a ________.

Modern strategic planning ________.

The managers of Arrow, an American retail chain, are currently reviewing new demographic markets to sell the firm's current products. This is an example of ________.

Elmo Corp., a manufacturer of personal computers and printers, recently established an office furniture exporting business. This is an example of ________.

Cleats, Unlimited developed a new style of soccer shoe. This is an example of ________.

A ________ documents an organization's purpose-what it wants to accomplish in the larger environment.

A product's position is the place it occupies relative to competitors' products in consumers' minds.

What are stars according to the BCG growth-share matrix?

The four Cs concept adopts the buyer's view of the market.

Phoenix, a popular coffee shop chain in North America, recently opened 400 stores to cater to its rapidly increasing number of patrons. This exemplifies ________.

________ are low-share business units in high-growth markets that require a lot of cash to hold their share.

The process of arranging for a product to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers is known as ________.