Question 1

All planning strategies have the goal of creating:

Accepted Answer

A)  sustainable competitive advantage.
B)  undifferentiated markets.
C)  a market with no distinct segments.
D)  barriers to market entry.

Question 2

Match each definition to the corresponding term.
-_____ identifies five competitive forces that influence planning strategies.

Accepted Answer

A)  planning
B)  marketing planning
C)  strategic planning
D)  tactical planning
E)  cash cowsF) first mover strategyG) SWOT analysisH) strategic windowI) marketing mixJ) product strategyK) strategic business unitsL) Porter's Five ForcesM) marketing strategyN) dogsO) starsP) annual growth rate

Question 3

Which of the following statements is true of tactical planning?

Accepted Answer

A)  It is conducted exclusively by the supervisory personnel.
B)  It is used to generate weekly plans, unit budgets, departmental rules and procedures.
C)  It is designed to determine annual budgets and long-range strategic goals.
D)  It is performed to substitute the strategic planning process in large organizations.

Question 4

Match each definition to the corresponding term.
-In the BCG matrix,the position of an SBU along the vertical axis indicates the _____ of the market.

Accepted Answer

A)  planning
B)  marketing planning
C)  strategic planning
D)  tactical planning
E)  cash cowsF) first mover strategyG) SWOT analysisH) strategic windowI) marketing mixJ) product strategyK) strategic business unitsL) Porter's Five ForcesM) marketing strategyN) dogsO) starsP) annual growth rate

Question 5

A target market is a group of customers toward whom a firm directs its marketing efforts.

Accepted Answer

A) True 
 B)False

Question 6

You are the head of market strategies for a large media company,and you are responsible for leading the enterprise through its annual marketing planning process.Which one of the following statements is true about this process?​

Accepted Answer

A)  ​Your organization's objectives are the essential set of statements that outlines its purpose and differentiates it from other organizations.
B)  ​Your organization's objectives specify the organization's goals and operational scope.
C)  ​After your firm establishes its objectives, the next step in the marketing planning process is to develop the marketing strategy.
D)  ​The last step in your marketing planning process should include an analysis of the risks and opportunities that you will face in striving to achieve your objectives.
E)  ​Your organization's objectives should be specific in describing what achievements are intended and desired.

Question 7

In addition to the four forces of the Five Forces Model,which of the following influences rivalry among competitors?

Accepted Answer

A)  Decreased availability of information of competitors
B)  Decreased consumption during a lull in the economy
C)  Lack of differentiation between products
D)  Lack of major differences in pricing strategies

Question 8

Match each definition to the corresponding term.
-The process of determining an organization's primary objectives and adopting courses of action that will achieve these objectives is known as _____.

Accepted Answer

A)  planning
B)  marketing planning
C)  strategic planning
D)  tactical planning
E)  cash cowsF) first mover strategyG) SWOT analysisH) strategic windowI) marketing mixJ) product strategyK) strategic business unitsL) Porter's Five ForcesM) marketing strategyN) dogsO) starsP) annual growth rate

Question 9

According to the BCG market share/market growth matrix,the SBU that produces strong cash flows which can be used to finance the growth of other SBUs is the:

Accepted Answer

A)  dog.
B)  question mark.
C)  cash cow.
D)  laggard.

Question 10

Which of the following best represents a mission statement?

Accepted Answer

A)  U.S. Army: Be all that you can be
B)  Bass Pro Shop: To be the leading merchant of outdoor recreational products, inspiring people to love, enjoy, and conserve the great outdoors
C)  Kellogg's: Breakfast cereals at a price everyone can afford
D)  Walmart: Stores big enough to make shopping interesting for every family member

Question 11

A product strategy includes decisions about customer service,package design,brand names,trademarks,patents,and warranties.

Accepted Answer

A) True 
 B)False

Question 12

​Within your diversified processed-food firm,there are SBUs for fruits,vegetables,dairy products,and baked goods.Each SBU has its own:

Accepted Answer

A)  ​Managers
B)  ​Resources
C)  ​Objectives
D)  ​Competitors
E)  ​Portfolios

Question 13

Organizational resources include the capabilities of the firm's production,marketing,finance,technology,and employees.

Accepted Answer

A) True 
 B)False

Question 14

Apple iTunes is an example of a successful first mover.

Accepted Answer

A) True 
 B)False

Question 15

​You've just started a new job as Chief Marketing Officer for a restaurant chain,and you've learned that the marketing planning process is already underway.In fact,the first two steps have been completed.What do you need to do now?

Accepted Answer

A)  ​Define the chain's mission.
B)  ​Determine the chain's specific objectives.
C)  ​Formulate a marketing strategy.
D)  ​Implement strategy.
E)  ​Assess organizational resources and opportunities.

Question 16

Detailed organizational objectives should state specific intentions,such as "Snapple Corporation seeks to increase its share of the non-carbonated soft drink market to 25 percent within the next two years."

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is a dimension of Porter's Five Forces model?

Accepted Answer

A)  Bargaining power of buyers
B)  Existence of second-movers
C)  Existing firms in the business environment
D)  Rivalry among strategic business units

Question 18

The basic objectives or goals of an organization are derived from its:

Accepted Answer

A)  standard operating procedures.
B)  operational plans.
C)  supervisory management strategy.
D)  mission statement.

Question 19

What is a marketing mix? In order for a product to succeed,what can be said about the variables in the marketing mix?

Accepted Answer

The marketing mix variables - product,di...

Question 20

Employees at middle-management levels engage themselves in business unit budgets and divisional policies and procedures.

Accepted Answer

A) True 
 B)False

Exam 2: Strategic Planning in Contemporary Marketing

Match each definition to the corresponding term. -The process of determining an organization's primary objectives and adopting courses of action that will achieve these objectives is known as _____.

Correct AnswerverifiedShow Answer

A target market is a group of customers toward whom a firm directs its marketing efforts.

Correct AnswerverifiedShow Answer

​You've just started a new job as Chief Marketing Officer for a restaurant chain,and you've learned that the marketing planning process is already underway.In fact,the first two steps have been completed.What do you need to do now?

Correct AnswerverifiedShow Answer

In addition to the four forces of the Five Forces Model,which of the following influences rivalry among competitors?

Correct AnswerverifiedShow Answer

Which of the following statements is true of tactical planning?

Correct AnswerverifiedShow Answer

The basic objectives or goals of an organization are derived from its:

Correct AnswerverifiedShow Answer

Apple iTunes is an example of a successful first mover.

Correct AnswerverifiedShow Answer

​Within your diversified processed-food firm,there are SBUs for fruits,vegetables,dairy products,and baked goods.Each SBU has its own:

Correct AnswerverifiedShow Answer

Match each definition to the corresponding term. -In the BCG matrix,the position of an SBU along the vertical axis indicates the _____ of the market.

Correct AnswerverifiedShow Answer

A product strategy includes decisions about customer service,package design,brand names,trademarks,patents,and warranties.

Correct AnswerverifiedShow Answer

All planning strategies have the goal of creating:

Correct AnswerverifiedShow Answer

Which of the following is a dimension of Porter's Five Forces model?

Correct AnswerverifiedShow Answer

Employees at middle-management levels engage themselves in business unit budgets and divisional policies and procedures.

Correct AnswerverifiedShow Answer

Organizational resources include the capabilities of the firm's production,marketing,finance,technology,and employees.

Correct AnswerverifiedShow Answer

According to the BCG market share/market growth matrix,the SBU that produces strong cash flows which can be used to finance the growth of other SBUs is the:

Correct AnswerverifiedShow Answer

What is a marketing mix? In order for a product to succeed,what can be said about the variables in the marketing mix?

Correct AnswerverifiedThe marketing mix variables - product,di...View AnswerShow Answer

Match each definition to the corresponding term. -_____ identifies five competitive forces that influence planning strategies.

Correct AnswerverifiedShow Answer

Detailed organizational objectives should state specific intentions,such as "Snapple Corporation seeks to increase its share of the non-carbonated soft drink market to 25 percent within the next two years."

Correct AnswerverifiedShow Answer

You are the head of market strategies for a large media company,and you are responsible for leading the enterprise through its annual marketing planning process.Which one of the following statements is true about this process?​

Correct AnswerverifiedShow Answer

Which of the following best represents a mission statement?

Correct AnswerverifiedShow Answer

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You've just started a new job as Chief Marketing Officer for a restaurant chain,and you've learned that the marketing planning process is already underway.In fact,the first two steps have been completed.What do you need to do now?

Correct Answer
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Within your diversified processed-food firm,there are SBUs for fruits,vegetables,dairy products,and baked goods.Each SBU has its own:

Correct Answer
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Correct Answer
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Correct Answer
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The marketing mix variables - product,di...
View Answer

Correct Answer
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Correct Answer
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You are the head of market strategies for a large media company,and you are responsible for leading the enterprise through its annual marketing planning process.Which one of the following statements is true about this process?

Correct Answer
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Correct Answer
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