Question 1

An automobile manufacturer is dependent on a single supplier for tires.Based on this information,which of the following statements is true?

Accepted Answer

A)  The barriers to market entry are low.
B)  The buyer has greater bargaining power.
C)  The threat of new entrants is high.
D)  The supplier has significant bargaining power.

Question 2

A shoe manufacturer has multiple suppliers for leather.Based on this information,which of the following statements is true?

Accepted Answer

A)  The suppliers have lesser bargaining than the buyer.
B)  The barriers to market entry are high.
C)  The rivalry among competitors is low.
D)  The buyer has lesser bargaining power than the suppliers.

Question 3

A company can modify a strategy when its actual performance is not in line with expected results by:

Accepted Answer

A)  redefining the firm's mission.
B)  focusing exclusively on long-range strategic issues.
C)  putting the marketing strategy into action and monitoring performance.
D)  interpreting the mission, vision, and values of the company differently.

Question 4

Marketing strategy is an overall company-wide program for selecting a particular target market and satisfying consumers through a careful blend of the elements of the marketing mix.

Accepted Answer

A) True 
 B)False

Question 5

Compared to other organization personnel,more time is devoted to long-range strategic planning by the:

Accepted Answer

A)  middle management.
B)  manufacturing labor.
C)  top management.
D)  supervisory management.

Question 6

Atari,a consumer electronics and video games company,observed the innovations of Nintendo Co.,the most powerful video game company at that time,and destroyed the market share of Nintendo eventually.This implies that Atari:

Accepted Answer

A)  followed a first-mover strategy.
B)  created a new product indigenously.
C)  remained uninfluenced by Nintendo.
D)  applied a second-mover strategy.

Question 7

A company's plans that focus largely on its current and near-future activities and are determined by its middle level management are referred to as _____ plans.

Accepted Answer

A)  strategic
B)  long-term
C)  operational
D)  tactical

Question 8

The performance framework developed by the Boston Consulting Group (BCG) plots:

Accepted Answer

A)  market share against market growth potential.
B)  market attractiveness against number of product lines.
C)  current market conditions against past trends.
D)  performance in test markets before a full-scale rollout.

Question 9

The chief executive officer (CEO)and vice president of marketing spend a greater proportion of their time on operational planning than do managers at all other organizational levels.

Accepted Answer

A) True 
 B)False

Question 10

​With respect to the BCG matrix,which one of the following generates considerable income,but requires sizeable investments to underwrite further growth in the future?

Accepted Answer

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

Question 11

Which of the following statements is indicative of a second mover strategy?

Accepted Answer

A)  Entering new markets with existing products
B)  Making significant innovations that turn old products into new ones
C)  Observing closely the innovations of first movers and then improving on them
D)  Entering new markets with new products before any other entrants

Question 12

Marketers put the marketing strategy into action in order to monitor performance to ensure that objectives are being achieved.

Accepted Answer

A) True 
 B)False

Question 13

After working as an analyst in the marketing department of a large consumer products firm,you have been promoted to marketing team lead for the company's leisure products line.In your new role,you will be responsible for the following major functional areas related to this product line: ​Inventory control
Order processing
Warehousing
Logistics
Within the context of the marketing mix,your responsibilities are primarily focused on

Accepted Answer

A)  ​Product strategy
B)  ​Promotion strategy
C)  ​Retail strategy
D)  ​Distribution strategy
E)  ​Customer service strategy

Question 14

The Internet has impacted business for new firms by increasing the barriers to market entry.

Accepted Answer

A) True 
 B)False

Question 15

A mission can be defined as an essential purpose that differentiates one company from others.

Accepted Answer

A) True 
 B)False

Question 16

Which of the following would qualify as an example of a firm's weakness?

Accepted Answer

A)  Changing buyer tastes in the marketplace
B)  The presence of modern production facilities
C)  Inadequate financing capabilities
D)  An addition to the current product line

Question 17

How does planning differ at various levels of organizational management?

Accepted Answer

a)Top managers spend greater proportions...

Question 18

An example of a threat to a firm discovered by a SWOT analysis might be:

Accepted Answer

A)  the presence of cost advantages due to advanced technology.
B)  the chance to acquire firms with the needed technology.
C)  the entry of new competitors in the industry.
D)  the narrow product line produced by the firm.

Question 19

An organization lays out its basic objectives,or goals,in its complete mission statement.

Accepted Answer

A) True 
 B)False

Question 20

Middle and supervisory-level managers spend less time as compared to CEOs on planning activities.

Accepted Answer

A) True 
 B)False

Exam 2: Strategic Planning in Contemporary Marketing

An example of a threat to a firm discovered by a SWOT analysis might be:

Correct Answer
verified

Correct Answer
verified

Middle and supervisory-level managers spend less time as compared to CEOs on planning activities.

Correct Answer
verified

A company's plans that focus largely on its current and near-future activities and are determined by its middle level management are referred to as _____ plans.

Correct Answer
verified

The performance framework developed by the Boston Consulting Group (BCG) plots:

Correct Answer
verified

The chief executive officer (CEO)and vice president of marketing spend a greater proportion of their time on operational planning than do managers at all other organizational levels.

Correct Answer
verified

Marketing strategy is an overall company-wide program for selecting a particular target market and satisfying consumers through a careful blend of the elements of the marketing mix.

Correct Answer
verified

An organization lays out its basic objectives,or goals,in its complete mission statement.

Correct Answer
verified

The Internet has impacted business for new firms by increasing the barriers to market entry.

Correct Answer
verified

A company can modify a strategy when its actual performance is not in line with expected results by:

Correct Answer
verified

An automobile manufacturer is dependent on a single supplier for tires.Based on this information,which of the following statements is true?

Correct Answer
verified

Which of the following would qualify as an example of a firm's weakness?

Correct Answer
verified

A mission can be defined as an essential purpose that differentiates one company from others.

Correct Answer
verified

With respect to the BCG matrix,which one of the following generates considerable income,but requires sizeable investments to underwrite further growth in the future?

Correct Answer
verified

A shoe manufacturer has multiple suppliers for leather.Based on this information,which of the following statements is true?

Correct Answer
verified

Compared to other organization personnel,more time is devoted to long-range strategic planning by the:

Correct Answer
verified

How does planning differ at various levels of organizational management?

Correct Answer
verified
a)Top managers spend greater proportions...
View Answer

Which of the following statements is indicative of a second mover strategy?

Correct Answer
verified

Atari,a consumer electronics and video games company,observed the innovations of Nintendo Co.,the most powerful video game company at that time,and destroyed the market share of Nintendo eventually.This implies that Atari:

Correct Answer
verified

Marketers put the marketing strategy into action in order to monitor performance to ensure that objectives are being achieved.

Correct Answer
verified

Exam 2: Strategic Planning in Contemporary Marketing

An example of a threat to a firm discovered by a SWOT analysis might be:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Middle and supervisory-level managers spend less time as compared to CEOs on planning activities.

Correct AnswerverifiedShow Answer

A company's plans that focus largely on its current and near-future activities and are determined by its middle level management are referred to as _____ plans.

Correct AnswerverifiedShow Answer

The performance framework developed by the Boston Consulting Group (BCG) plots:

Correct AnswerverifiedShow Answer

The chief executive officer (CEO)and vice president of marketing spend a greater proportion of their time on operational planning than do managers at all other organizational levels.

Correct AnswerverifiedShow Answer

Marketing strategy is an overall company-wide program for selecting a particular target market and satisfying consumers through a careful blend of the elements of the marketing mix.

Correct AnswerverifiedShow Answer

An organization lays out its basic objectives,or goals,in its complete mission statement.

Correct AnswerverifiedShow Answer

The Internet has impacted business for new firms by increasing the barriers to market entry.

Correct AnswerverifiedShow Answer

A company can modify a strategy when its actual performance is not in line with expected results by:

Correct AnswerverifiedShow Answer

An automobile manufacturer is dependent on a single supplier for tires.Based on this information,which of the following statements is true?

Correct AnswerverifiedShow Answer

Which of the following would qualify as an example of a firm's weakness?

Correct AnswerverifiedShow Answer

A mission can be defined as an essential purpose that differentiates one company from others.

Correct AnswerverifiedShow Answer

​With respect to the BCG matrix,which one of the following generates considerable income,but requires sizeable investments to underwrite further growth in the future?

Correct AnswerverifiedShow Answer

A shoe manufacturer has multiple suppliers for leather.Based on this information,which of the following statements is true?

Correct AnswerverifiedShow Answer

Compared to other organization personnel,more time is devoted to long-range strategic planning by the:

Correct AnswerverifiedShow Answer

How does planning differ at various levels of organizational management?

Correct Answerverifieda)Top managers spend greater proportions...View AnswerShow Answer

Which of the following statements is indicative of a second mover strategy?

Correct AnswerverifiedShow Answer

Atari,a consumer electronics and video games company,observed the innovations of Nintendo Co.,the most powerful video game company at that time,and destroyed the market share of Nintendo eventually.This implies that Atari:

Correct AnswerverifiedShow Answer

Marketers put the marketing strategy into action in order to monitor performance to ensure that objectives are being achieved.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

With respect to the BCG matrix,which one of the following generates considerable income,but requires sizeable investments to underwrite further growth in the future?

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
a)Top managers spend greater proportions...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified