Question 1

Samantha is charged with assessing her company's external environment as part of a SWOT analysis.Samantha will study her company's

Accepted Answer

A)   strengths and weaknesses.
B)   sales history.
C)   pension plan.
D)   product specifications.
E)   opportunities and threats.F) None of the above
G) A) and E)

Question 2

Adrienne decides to add new sales representatives and increase advertising to increase sales in her existing market for her current line of security systems.Adrienne is pursuing a __________ growth strategy.

Accepted Answer

A)   segment development
B)   market development
C)   market penetration
D)   diversification
E)   product developmentF) D) and E)
G) A) and E)

Question 3

After conducting STP analysis for her custom auto parts store and developing strategies for each of the four Ps,Monique now has to make _____________ decisions.

Accepted Answer

A)   competitive response
B)   resource allocation
C)   market growth
D)   product line
E)   mission statementF) A) and E)
G) A) and D)

Question 4

E-books,in addition to being an alternative product form,provide __________ value creation since they can be downloaded via the Internet immediately when and where they are needed.

Accepted Answer

A)   product
B)   place
C)   promotion
D)   price
E)   primaryF) A) and B)
G) C) and D)

Question 5

LeBron James,Alex Rodriguez,and other athletes are paid huge sums of money by companies for celebrity endorsements.If endorsements by these athletes create a clear understanding among consumers of the companies' products in comparison to competing products,they can help with the firm's __________ strategy.

Accepted Answer

A)   product excellence
B)   targeting
C)   positioning
D)   segmentation
E)   customer excellenceF) B) and E)
G) C) and D)

Question 6

Which of the following is the best way to build a sustainable competitive advantage using product excellence?

Accepted Answer

A)   being the first to offer customers desired features,even if competitors can copy them easily
B)   positioning the product using a clear,distinctive brand image
C)   having the most features on each model
D)   focusing on being cutting edge and continually eliminating older features that are still in use by customers
E)   copying the market leader's features,but at a lower costF) All of the above
G) B) and E)

Question 7

Craig sees that his company's quarterly sales and profits are significantly above projections and says,"That's great.Let's keep doing what we've been doing." Craig is ignoring the __________ step of the marketing planning process.

Accepted Answer

A)   evaluate performance
B)   define the business mission
C)   perform situation analysis
D)   implement marketing mix and resources
E)   identify and evaluate opportunitiesF) D) and E)
G) C) and D)

Question 8

Using the BCG portfolio analysis,a "dog" should be phased out unless

Accepted Answer

A)   its marketing manager is a champion of the product.
B)   additional resources could increase its relative market share slightly.
C)   it complements or boosts the sales of another product.
D)   the market has a small chance of rebounding.
E)   none of these.Dogs should be phased out.F) A) and E)
G) C) and D)

Question 9

Product penetration is one of the four major growth strategies.

Accepted Answer

A) True 
 B)False

Question 10

Google and other search engines allow marketers to bid to have their ads shown when consumers search on keywords related to the firm's products.These marketers are attempting to create value through

Accepted Answer

A)   product.
B)   price.
C)   promotion.
D)   place.
E)   cost-based measures.F) C) and D)
G) A) and E)

Question 11

All of the following statements regarding marketing metrics are true except

Accepted Answer

A)   they can be used at various levels in an organization.
B)   they assist in comparing results among SBUs.
C)   they cannot be used to project the future.
D)   they quantify a trend,dynamic or characteristic.
E)   they help a firm make appropriate adjustments to its marketing plan.F) A) and E)
G) A) and C)

Question 12

Gerald's Tire Store sets itself apart from competitors by the extra attention it pays to retaining loyal customers by providing fast,courteous service in a clean,professional-looking environment.Gerald's has used this strategy for over 40 years,expanding to 15 outlets.Gerald's Tire Store has created a ___________ macro strategy to create and deliver value and to develop a sustainable competitive advantage.

Accepted Answer

A)   supply chain excellence
B)   locational excellence
C)   product excellence
D)   diversification excellence
E)   customer excellenceF) C) and E)
G) B) and D)

Question 13

A regional manager at GNC,a chain of retail stores selling nutritional supplements,is reviewing sales data after a recent in-store promotion.The data show success in some stores and limited response in others.To understand the differences between stores,the manager will probably next review the company's

Accepted Answer

A)   financial statements,to investigate current and past profits.
B)   brand awareness study,to assess national levels of awareness.
C)   implementation programs,to see if the promotion was handled consistently in the different stores.
D)   mission statement,to see if it needs adjusting.
E)   analysis of national trends in vitamins and herbal supplements,to help predict future sales.F) C) and D)
G) C) and E)

Question 14

Value creation through place decisions for a consumer product involves

Accepted Answer

A)   putting the product in the front of the store.
B)   designing creative displays to capture consumers' attention.
C)   pricing products differently at different stores.
D)   making sure the product is available in the stores where customers will want to find it,and that it is always in stock so they can buy it when they want to.
E)   focusing exclusively on Internet sales to reduce supply chain costs.F) A) and B)
G) A) and C)

Question 15

To determine how attractive a particular market is using the BCG portfolio analysis,__________ is(are) established as the vertical axis.

Accepted Answer

A)   competitive intensity
B)   sales dollars
C)   market size
D)   market growth rate
E)   market profit potentialF) A) and E)
G) B) and E)

Question 16

Several years ago,the Florida Orange Juice Growers Association ran a promotional campaign with the slogan "Orange juice.It isn't just for breakfast anymore." Based on this slogan,which of the four growth strategies was the association pursuing? Briefly explain your reasoning.

Accepted Answer

The best answer is that this is a market...

Question 17

The components of a SWOT analysis are strengths,weaknesses,opportunities,and tactics.

Accepted Answer

A) True 
 B)False

Question 18

Duke's is a surfer-themed restaurant chain in Hawaii.Most of its customers are tourists.In a SWOT analysis for Duke's,the possibility that the recession might cut back on tourism in Hawaii would be considered a weakness.

Accepted Answer

A) True 
 B)False

Question 19

One example of a customer loyalty program is

Accepted Answer

A)   a "frequent diner" card at a restaurant,offering a free appetizer for every $100 in food purchases.
B)   a quantity discount offered for large purchases at an office supply store.
C)   seasonal sales on top-selling items.
D)   an "everyday low price" policy on all products at a grocery store.
E)   an extensive customer service training program for new employees at a hair salon.F) None of the above
G) C) and D)

Question 20

After identifying various market segments that her company could pursue,Lisa evaluated each segment's attractiveness based on size,income,and accessibility.Lisa was involved in

Accepted Answer

A)   target marketing.
B)   situation analysis.
C)   diversification.
D)   positioning.
E)   market penetration estimation.F) C) and E)
G) A) and B)

Exam 2: Developing Marketing Strategies and a Marketing Plan

Using the BCG portfolio analysis,a "dog" should be phased out unless

Correct Answer
verified

Samantha is charged with assessing her company's external environment as part of a SWOT analysis.Samantha will study her company's

Correct Answer
verified

After identifying various market segments that her company could pursue,Lisa evaluated each segment's attractiveness based on size,income,and accessibility.Lisa was involved in

Correct Answer
verified

Correct Answer
verified

One example of a customer loyalty program is

Correct Answer
verified

After conducting STP analysis for her custom auto parts store and developing strategies for each of the four Ps,Monique now has to make _____________ decisions.

Correct Answer
verified

Adrienne decides to add new sales representatives and increase advertising to increase sales in her existing market for her current line of security systems.Adrienne is pursuing a __________ growth strategy.

Correct Answer
verified

Product penetration is one of the four major growth strategies.

Correct Answer
verified

Google and other search engines allow marketers to bid to have their ads shown when consumers search on keywords related to the firm's products.These marketers are attempting to create value through

Correct Answer
verified

Correct Answer
verified

All of the following statements regarding marketing metrics are true except

Correct Answer
verified

Duke's is a surfer-themed restaurant chain in Hawaii.Most of its customers are tourists.In a SWOT analysis for Duke's,the possibility that the recession might cut back on tourism in Hawaii would be considered a weakness.

Correct Answer
verified

Correct Answer
verified

Which of the following is the best way to build a sustainable competitive advantage using product excellence?

Correct Answer
verified

Craig sees that his company's quarterly sales and profits are significantly above projections and says,"That's great.Let's keep doing what we've been doing." Craig is ignoring the __________ step of the marketing planning process.

Correct Answer
verified

To determine how attractive a particular market is using the BCG portfolio analysis,__________ is(are) established as the vertical axis.

Correct Answer
verified

Several years ago,the Florida Orange Juice Growers Association ran a promotional campaign with the slogan "Orange juice.It isn't just for breakfast anymore." Based on this slogan,which of the four growth strategies was the association pursuing? Briefly explain your reasoning.

Correct Answer
verified
The best answer is that this is a market...
View Answer

The components of a SWOT analysis are strengths,weaknesses,opportunities,and tactics.

Correct Answer
verified

E-books,in addition to being an alternative product form,provide __________ value creation since they can be downloaded via the Internet immediately when and where they are needed.

Correct Answer
verified

Value creation through place decisions for a consumer product involves

Correct Answer
verified

Exam 2: Developing Marketing Strategies and a Marketing Plan

Using the BCG portfolio analysis,a "dog" should be phased out unless

Correct AnswerverifiedShow Answer

Samantha is charged with assessing her company's external environment as part of a SWOT analysis.Samantha will study her company's

Correct AnswerverifiedShow Answer

After identifying various market segments that her company could pursue,Lisa evaluated each segment's attractiveness based on size,income,and accessibility.Lisa was involved in

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

One example of a customer loyalty program is

Correct AnswerverifiedShow Answer

After conducting STP analysis for her custom auto parts store and developing strategies for each of the four Ps,Monique now has to make _____________ decisions.

Correct AnswerverifiedShow Answer

Adrienne decides to add new sales representatives and increase advertising to increase sales in her existing market for her current line of security systems.Adrienne is pursuing a __________ growth strategy.

Correct AnswerverifiedShow Answer

Product penetration is one of the four major growth strategies.

Correct AnswerverifiedShow Answer

Google and other search engines allow marketers to bid to have their ads shown when consumers search on keywords related to the firm's products.These marketers are attempting to create value through

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

All of the following statements regarding marketing metrics are true except

Correct AnswerverifiedShow Answer

Duke's is a surfer-themed restaurant chain in Hawaii.Most of its customers are tourists.In a SWOT analysis for Duke's,the possibility that the recession might cut back on tourism in Hawaii would be considered a weakness.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following is the best way to build a sustainable competitive advantage using product excellence?

Correct AnswerverifiedShow Answer

Craig sees that his company's quarterly sales and profits are significantly above projections and says,"That's great.Let's keep doing what we've been doing." Craig is ignoring the __________ step of the marketing planning process.

Correct AnswerverifiedShow Answer

To determine how attractive a particular market is using the BCG portfolio analysis,__________ is(are) established as the vertical axis.

Correct AnswerverifiedShow Answer

Several years ago,the Florida Orange Juice Growers Association ran a promotional campaign with the slogan "Orange juice.It isn't just for breakfast anymore." Based on this slogan,which of the four growth strategies was the association pursuing? Briefly explain your reasoning.

Correct AnswerverifiedThe best answer is that this is a market...View AnswerShow Answer

The components of a SWOT analysis are strengths,weaknesses,opportunities,and tactics.

Correct AnswerverifiedShow Answer

E-books,in addition to being an alternative product form,provide __________ value creation since they can be downloaded via the Internet immediately when and where they are needed.

Correct AnswerverifiedShow Answer

Value creation through place decisions for a consumer product involves

Correct AnswerverifiedShow Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
The best answer is that this is a market...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
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