Question 1

YOU Inc.,a radio cassette manufacturer,sold its business due to poor market shares.According to the BCG Matrix,the firm sold its business because the business had become a _____ as seen in its poor prospects and performance.

Accepted Answer

A)   star
B)   question mark
C)   cash cow
D)   dog

Question 2

The BCG market share/market growth matrix classifies products with a low relative share of a high-growth market as _____.

Accepted Answer

A)   stars
B)   question marks
C)   cash cows
D)   dogs

Question 3

DK Motors' difficulty in competing with other car makers due to its lack of responsiveness to changing consumer preferences constitutes a:

Accepted Answer

A)   strategic window.
B)   leveraged situation.
C)   threat from the environment.
D)   constraint on its activity.

Question 4

Strategies once implemented should not be changed even if the actual performance does not meet the desired results.

Accepted Answer

A) True 
 B)False

Question 5

Describe the market share/market growth matrix.

Accepted Answer

The market share/market growth matrix pl...

Question 6

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 7

The pricing strategy is the area of marketing that receives the least amount of public scrutiny.

Accepted Answer

A) True 
 B)False

Question 8

In SWOT analysis,situations where organizations are unable to capitalize on opportunities because of internal limitations are referred to as:

Accepted Answer

A)   strategic windows.
B)   threats.
C)   constraints.
D)   leverages.

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

Which of the following conditions would lead a company's marketers to find a new market,change prices,or compete in other ways to maintain an advantage?

Accepted Answer

A)   When the bargaining power of suppliers is low
B)   When the bargaining power of buyers is low
C)   When the threat of substitute products is high
D)   When the threat of new entrants it low

Question 11

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 12

Many companies use an approach called _____ to coordinate all promotional activities so that the consumer receives a unified and consistent message.

Accepted Answer

A)   intra-organizational communications
B)   internal marketing strategies
C)   integrated marketing communications
D)   corporate communications

Question 13

The product manager for a line of mousetraps informs the board of directors at the company's annual meeting that the product has been classified as a 'dog' according to the BCG market share/market growth matrix.This means the product:

Accepted Answer

A)   requires a "go/no go" decision within the next several years.
B)   has low market share of a high-growth rate market.
C)   should be withdrawn from the market or sold off as quickly as possible.
D)   needs heavy investment to make it a star.

Question 14

The first step of the marketing planning process involves:

Accepted Answer

A)   writing the mission statement.
B)   establishing organizational objectives.
C)   formulating a marketing plan.
D)   hiring a senior planner.

Question 15

The _____ is the blending of the four strategy elements to fit the needs and preferences of a specific target 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 16

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

Accepted Answer

A) True 
 B)False

Question 17

Effective relationship marketing often involves:

Accepted Answer

A)   inside information about competitors that is not in the public domain.
B)   databases to track customer preferences.
C)   large advertising budgets aimed solely at end-users.
D)   internal sources of performance-related data.

Question 18

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 19

As the senior vice-president of marketing,Naomi will be closely involved in her firm's strategic planning.

Accepted Answer

A) True 
 B)False

Question 20

As chief executive of Stalwart Shipfitting Company,a diversified producer of marine supplies and equipment,John needs a method for spotting promising product lines that warrant commitment of additional resources,as well as those that should be removed from the firm's product portfolio.A good choice for this firm at this stage would be to use:

Accepted Answer

A)   computer models.
B)   strategic business units.
C)   a marketing audit.
D)   an industry analysis.

Exam 2: Strategic Planning in Contemporary Marketing

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

Correct Answer
verified

As the senior vice-president of marketing,Naomi will be closely involved in her firm's strategic planning.

Correct Answer
verified

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

Correct Answer
verified

The pricing strategy is the area of marketing that receives the least amount of public scrutiny.

Correct Answer
verified

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

Correct Answer
verified

The BCG market share/market growth matrix classifies products with a low relative share of a high-growth market as _____.

Correct Answer
verified

Strategies once implemented should not be changed even if the actual performance does not meet the desired results.

Correct Answer
verified

The product manager for a line of mousetraps informs the board of directors at the company's annual meeting that the product has been classified as a 'dog' according to the BCG market share/market growth matrix.This means the product:

Correct Answer
verified

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

Correct Answer
verified

Describe the market share/market growth matrix.

Correct Answer
verified
The market share/market growth matrix pl...
View Answer

Effective relationship marketing often involves:

Correct Answer
verified

In SWOT analysis,situations where organizations are unable to capitalize on opportunities because of internal limitations are referred to as:

Correct Answer
verified

Which of the following best represents a mission statement?

Correct Answer
verified

YOU Inc.,a radio cassette manufacturer,sold its business due to poor market shares.According to the BCG Matrix,the firm sold its business because the business had become a _____ as seen in its poor prospects and performance.

Correct Answer
verified

Many companies use an approach called _____ to coordinate all promotional activities so that the consumer receives a unified and consistent message.

Correct Answer
verified

DK Motors' difficulty in competing with other car makers due to its lack of responsiveness to changing consumer preferences constitutes a:

Correct Answer
verified

The first step of the marketing planning process involves:

Correct Answer
verified

Correct Answer
verified

The _____ is the blending of the four strategy elements to fit the needs and preferences of a specific target market.

Correct Answer
verified

Which of the following conditions would lead a company's marketers to find a new market,change prices,or compete in other ways to maintain an advantage?

Correct Answer
verified

Exam 2: Strategic Planning in Contemporary Marketing

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

Correct AnswerverifiedShow Answer

As the senior vice-president of marketing,Naomi will be closely involved in her firm's strategic planning.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The pricing strategy is the area of marketing that receives the least amount of public scrutiny.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The BCG market share/market growth matrix classifies products with a low relative share of a high-growth market as _____.

Correct AnswerverifiedShow Answer

Strategies once implemented should not be changed even if the actual performance does not meet the desired results.

Correct AnswerverifiedShow Answer

The product manager for a line of mousetraps informs the board of directors at the company's annual meeting that the product has been classified as a 'dog' according to the BCG market share/market growth matrix.This means the product:

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Describe the market share/market growth matrix.

Correct AnswerverifiedThe market share/market growth matrix pl...View AnswerShow Answer

Effective relationship marketing often involves:

Correct AnswerverifiedShow Answer

In SWOT analysis,situations where organizations are unable to capitalize on opportunities because of internal limitations are referred to as:

Correct AnswerverifiedShow Answer

Which of the following best represents a mission statement?

Correct AnswerverifiedShow Answer

YOU Inc.,a radio cassette manufacturer,sold its business due to poor market shares.According to the BCG Matrix,the firm sold its business because the business had become a _____ as seen in its poor prospects and performance.

Correct AnswerverifiedShow Answer

Many companies use an approach called _____ to coordinate all promotional activities so that the consumer receives a unified and consistent message.

Correct AnswerverifiedShow Answer

DK Motors' difficulty in competing with other car makers due to its lack of responsiveness to changing consumer preferences constitutes a:

Correct AnswerverifiedShow Answer

The first step of the marketing planning process involves:

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The _____ is the blending of the four strategy elements to fit the needs and preferences of a specific target market.

Correct AnswerverifiedShow Answer

Which of the following conditions would lead a company's marketers to find a new market,change prices,or compete in other ways to maintain an advantage?

Correct AnswerverifiedShow Answer

Correct Answer
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verified
The market share/market growth matrix pl...
View Answer

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verified

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