Question 1

Explain the criteria for setting strategic objectives.Provide an example of one objective that meets these criteria and one that does not.

Accepted Answer

Effective strategic objectives should me...

Question 2

The functional planning that is done in the marketing department is referred to as ________.

Accepted Answer

A)  strategic planning
B)  marketing planning
C)  operational planning
D)  tactical planning
E)  marketing research

Question 3

A firm's corporate culture includes all of the following EXCEPT ________.

Accepted Answer

A)  beliefs
B)  norms
C)  ethical values
D)  legal compliance
E)  All of the above

Question 4

A good mission statement for a mattress manufacturer would be 'we make mattresses for people to sleep on' rather than 'creating sleep systems that promote good health and longevity'.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is an example of product competition?

Accepted Answer

A)  Pizza,hamburgers,deli sandwiches
B)  A sports drink,a soft drink,and a bottle of water
C)  A movie theatre and a DVD rental store
D)  An amusement park,a cruise,and a beach resort
E)  All of the above

Question 6

What is corporate culture and why is it important to marketers?

Accepted Answer

Corporate culture is made up of the valu...

Question 7

Competitive intelligence activities ________.

Accepted Answer

A)  are another name for a SWOT analysis
B)  are the gathering and analysing of publicly available information about competitors
C)  document all the strengths and weaknesses of a company
D)  are all unethical and illegal
E)  document all the opportunities and threats facing a company

Question 8

Legal and regulatory controls ________.

Accepted Answer

A)  have little effect upon business decisions
B)  only have a very small effect upon the external environment of a business
C)  can be prime motivators for many business decisions
D)  are always the same for every country in the world
E)  None of the above

Question 9

Employee morale,promotion strategies,and competitors' reactions are all examples of a company's internal environment.

Accepted Answer

A) True 
 B)False

Question 10

Company A has a portfolio that includes five stars,three cash cows,six question marks and three dogs.Should the company focus all its attention only on its 'stars'? If so,why? If not,why not?

Accepted Answer

While the company will be pleased that i...

Question 11

Is it always bad for a SBU to be categorised as a dog using the BCG growth-market matrix?

Accepted Answer

No.A business may have a small share of ...

Question 12

Which of the following actions would not be a part of a marketing plan?

Accepted Answer

A)  Description of the marketing environment
B)  Assurance the firm has a strong monopoly in the industry
C)  Outline of marketing strategies
D)  Details as to how marketing strategies will be implemented
E)  Details as to how marketing strategies will be monitored and controlled

Question 13

Plans that focus on the day-to-day execution of the marketing plan are called ________ plans.

Accepted Answer

A)  strategic
B)  operational
C)  brand
D)  functional
E)  marketing mix

Question 14

What function do controls play in marketing planning? Explain

Accepted Answer

Marketing plans include detailed directi...

Question 15

Marketers communicate product benefits and features to their target consumers through their ________ strategies.

Accepted Answer

A)  segmenting
B)  positioning
C)  promotion
D)  product
E)  pricing

Question 16

The ________ for eBay.

Accepted Answer

A)  marketing objectives
B)  strategic plans
C)  strategic objectives
D)  mission statement
E)  functional plans

Question 17

Strategic business units (SBUs)are individual units representing different areas of business within the firm that are each different enough to have their own mission,business objectives,resources,managers,and competitors.

Accepted Answer

A) True 
 B)False

Question 18

Why must marketers be aware of changes in the economic and technological environments? Illustrate using the mobile phone industry.

Accepted Answer

Marketers must be keenly aware of change...

Question 19

In ________,there are a relatively small number of sellers,each holding substantial market share in a market with many buyers.

Accepted Answer

A)  a monopoly
B)  an oligopoly
C)  oligopolistic competition
D)  monopolistic competition
E)  perfect competition

Question 20

Companies are following a market penetration strategy when they sell new products in new markets.

Accepted Answer

A) True 
 B)False

Exam 2: Strategic Market Planning: Taking the Big Picture

The functional planning that is done in the marketing department is referred to as ________.

Correct AnswerverifiedShow Answer

Company A has a portfolio that includes five stars,three cash cows,six question marks and three dogs.Should the company focus all its attention only on its 'stars'? If so,why? If not,why not?

Correct AnswerverifiedWhile the company will be pleased that i...View AnswerShow Answer

Employee morale,promotion strategies,and competitors' reactions are all examples of a company's internal environment.

Correct AnswerverifiedShow Answer

Explain the criteria for setting strategic objectives.Provide an example of one objective that meets these criteria and one that does not.

Correct AnswerverifiedEffective strategic objectives should me...View AnswerShow Answer

Competitive intelligence activities ________.

Correct AnswerverifiedShow Answer

Is it always bad for a SBU to be categorised as a dog using the BCG growth-market matrix?

Correct AnswerverifiedNo.A business may have a small share of ...View AnswerShow Answer

Plans that focus on the day-to-day execution of the marketing plan are called ________ plans.

Correct AnswerverifiedShow Answer

What is corporate culture and why is it important to marketers?

Correct AnswerverifiedCorporate culture is made up of the valu...View AnswerShow Answer

In ________,there are a relatively small number of sellers,each holding substantial market share in a market with many buyers.

Correct AnswerverifiedShow Answer

Strategic business units (SBUs)are individual units representing different areas of business within the firm that are each different enough to have their own mission,business objectives,resources,managers,and competitors.

Correct AnswerverifiedShow Answer

A good mission statement for a mattress manufacturer would be 'we make mattresses for people to sleep on' rather than 'creating sleep systems that promote good health and longevity'.

Correct AnswerverifiedShow Answer

Why must marketers be aware of changes in the economic and technological environments? Illustrate using the mobile phone industry.

Correct AnswerverifiedMarketers must be keenly aware of change...View AnswerShow Answer

Which of the following actions would not be a part of a marketing plan?

Correct AnswerverifiedShow Answer

Legal and regulatory controls ________.

Correct AnswerverifiedShow Answer

The ________ for eBay.

Correct AnswerverifiedShow Answer

Which of the following is an example of product competition?

Correct AnswerverifiedShow Answer

Companies are following a market penetration strategy when they sell new products in new markets.

Correct AnswerverifiedShow Answer

Marketers communicate product benefits and features to their target consumers through their ________ strategies.

Correct AnswerverifiedShow Answer

A firm's corporate culture includes all of the following EXCEPT ________.

Correct AnswerverifiedShow Answer

What function do controls play in marketing planning? Explain

Correct AnswerverifiedMarketing plans include detailed directi...View AnswerShow Answer

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While the company will be pleased that i...
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Effective strategic objectives should me...
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No.A business may have a small share of ...
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Corporate culture is made up of the valu...
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Marketers must be keenly aware of change...
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Marketing plans include detailed directi...
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