Question 1

You and your friend Alison work in different parts of a large firm.In a recent analysis,your area was labeled a "cash cow" and hers was labeled a "question mark." What things would you do differently in your area than Alison would do in hers?

Accepted Answer

There are many possible answer...

Question 2

Marketers want their firms to develop efficient operations because this kind of efficiency:

Accepted Answer

A)   usually leads to lower prices or greater pricing flexibility.
B)   allows the firm to offer greater value to customers.
C)   makes it easier to get the products customers want to them when they want them.
D)   can lead to more attractive margins.
E)   All of these.F) A) and D)
G) B) and D)

Question 3

Heather has been assessing a number of her firm's products using the Boston Consulting Group approach to portfolio analysis.She has been trying to assess the strength in a particular market and is looking at the sales of the product and the overall market as well as the sales of competitors.Heather is trying to determine:

Accepted Answer

A)   the product's relative market share.
B)   the market growth rate.
C)   a source of competitive advantage.
D)   the impact of population shifts on future demand.
E)   cash equivalent values for each product.F) D) and E)
G) B) and C)

Question 4

The marketing planning process always proceeds sequentially through the five steps.

Accepted Answer

A) True 
 B)False

Question 5

When discussing the marketing planning process,STP stands for:

Accepted Answer

A)   Strategies,tactics,and plans.
B)   Strategize,target,and promote.
C)   Segmentation,targeting,and positioning.
D)   Situation analysis,trend spotting,and planning.
E)   Sustaining,trending,and positioning.F) A) and B)
G) None of the above

Question 6

Starbucks has developed a number of metrics beyond purely financial metrics.Knowing the importance of perceptions and knowing the importance of developing ways to demonstrate its activity,Starbucks tries to find clear ways to:

Accepted Answer

A)   build brand equity.
B)   demonstrate its sense of corporate social responsibility.
C)   address concerns of opponents at local,regional,national and global levels.
D)   help consumers to feel better about their purchases.
E)   All of these.F) All of the above
G) B) and C)

Question 7

When musicians and their concert promoters began offering CDs of a live concert,immediately after the concert ended,what type of growth strategy were they pursuing?

Accepted Answer

Product development,because th...

Question 8

Which of the following is NOT one of the four overarching strategies to create and deliver value and to develop sustainable competitive advantage?

Accepted Answer

A)   Locational excellence
B)   Customer excellence
C)   Operational excellence
D)   Product excellence
E)   Planning excellenceF) B) and D)
G) A) and B)

Question 9

Many of today's college graduates will make their livings providing goods and services to "baby boomers," the large group of Americans born in the period after World War II.Baby boomers are a _________________ market segment.

Accepted Answer

A)   psychological
B)   behavioral
C)   social
D)   product-based
E)   demographicF) B) and D)
G) A) and E)

Question 10

Quitman Enterprises sells its business language dictionary to college students throughout the United States.Joseph Quitman,the owner,wants to start selling the book to international students abroad.Quitman wants to pursue a __________________ growth strategy.

Accepted Answer

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

Question 11

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)   Situation Analysis
D)   Implement Marketing Mix and Resources
E)   Identifying and Evaluating OpportunitiesF) C) and E)
G) B) and C)

Question 12

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)   all of these.
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) D) and E)

Question 13

Boston Consulting Group's Portfolio Analysis classifies a company's products or product lines into a two-by-two matrix.What are the bases of classification and what are the products or product lines in each of the four quadrants called? What marketing strategies are usually considered for each of the four classifications?

Accepted Answer

The two bases of classification are rela...

Question 14

Allen is in the marketing department of a mid-sized firm that develops and sells communications systems.He is proud of the Human Resources area in the company that provides the firm with excellent employees.Allen himself really enjoys his work,but he knows the work of HR helps create an advantage for the firm because:

Accepted Answer

A)   customers appreciate the kind of service that knowledgeable employees provide.
B)   employees play a major role in the success of the firm.
C)   it is easier to communicate with and inspire the customer if the employees believe in what the firm is doing.
D)   building customer loyalty depends on a committed workforce.
E)   All of these.F) D) and E)
G) A) and E)

Question 15

To build a sustainable competitive advantage,companies should focus on a single strategy.

Accepted Answer

A) True 
 B)False

Question 16

STP refers to segmentation,testing,and promotion.

Accepted Answer

A) True 
 B)False

Question 17

For many years,because of the size of the U.S.economy,domestic companies ignored international markets,preferring instead to develop new product offerings for existing customers.These companies were pursuing a ________________ strategy.

Accepted Answer

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

Question 18

Imagine that you are in a convenience store choosing your favorite "comfort" food instead of being in a classroom taking this test.You might notice the packaging,colors,labels,even the fonts used on labels.All of these efforts are part of the marketer's:

Accepted Answer

A)   value-based promotions.
B)   market segmentation.
C)   positioning strategy.
D)   customer excellence strategy.
E)   target market.F) A) and D)
G) A) and E)

Question 19

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 20

Over the last few months,Juan and his colleagues have analyzed the current business situation,and then identified target markets for his firm's personal care products.Finally,they developed the products,prices,distribution and promotion that should appeal to each of those target markets.In doing so,Juan has also identified what he believes is an advantage his competitors cannot match.Juan and his colleagues have been developing:

Accepted Answer

A)   a business mission statement
B)   a strategic vision
C)   team-building exercises
D)   a marketing strategy
E)   competitive assessmentsF) C) and D)
G) A) and D)

Exam 2: Developing Marketing Strategies and a Marketing Plan

When musicians and their concert promoters began offering CDs of a live concert,immediately after the concert ended,what type of growth strategy were they pursuing?

Correct Answer
verified
Product development,because th...
View Answer

To build a sustainable competitive advantage,companies should focus on a single strategy.

Correct Answer
verified

You and your friend Alison work in different parts of a large firm.In a recent analysis,your area was labeled a "cash cow" and hers was labeled a "question mark." What things would you do differently in your area than Alison would do in hers?

Correct Answer
verified
There are many possible answer...
View Answer

For many years,because of the size of the U.S.economy,domestic companies ignored international markets,preferring instead to develop new product offerings for existing customers.These companies were pursuing a ________________ strategy.

Correct Answer
verified

Starbucks has developed a number of metrics beyond purely financial metrics.Knowing the importance of perceptions and knowing the importance of developing ways to demonstrate its activity,Starbucks tries to find clear ways to:

Correct Answer
verified

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

Imagine that you are in a convenience store choosing your favorite "comfort" food instead of being in a classroom taking this test.You might notice the packaging,colors,labels,even the fonts used on labels.All of these efforts are part of the marketer's:

Correct Answer
verified

Which of the following is NOT one of the four overarching strategies to create and deliver value and to develop sustainable competitive advantage?

Correct Answer
verified

Marketers want their firms to develop efficient operations because this kind of efficiency:

Correct Answer
verified

One example of a customer loyalty program is:

Correct Answer
verified

Quitman Enterprises sells its business language dictionary to college students throughout the United States.Joseph Quitman,the owner,wants to start selling the book to international students abroad.Quitman wants to pursue a __________________ growth strategy.

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

Correct Answer
verified
The two bases of classification are rela...
View Answer

The marketing planning process always proceeds sequentially through the five steps.

Correct Answer
verified

STP refers to segmentation,testing,and promotion.

Correct Answer
verified

Many of today's college graduates will make their livings providing goods and services to "baby boomers," the large group of Americans born in the period after World War II.Baby boomers are a _________________ market segment.

Correct Answer
verified

Correct Answer
verified

When discussing the marketing planning process,STP stands for:

Correct Answer
verified

Exam 2: Developing Marketing Strategies and a Marketing Plan

When musicians and their concert promoters began offering CDs of a live concert,immediately after the concert ended,what type of growth strategy were they pursuing?

Correct AnswerverifiedProduct development,because th...View AnswerShow Answer

To build a sustainable competitive advantage,companies should focus on a single strategy.

Correct AnswerverifiedShow Answer

You and your friend Alison work in different parts of a large firm.In a recent analysis,your area was labeled a "cash cow" and hers was labeled a "question mark." What things would you do differently in your area than Alison would do in hers?

Correct AnswerverifiedThere are many possible answer...View AnswerShow Answer

For many years,because of the size of the U.S.economy,domestic companies ignored international markets,preferring instead to develop new product offerings for existing customers.These companies were pursuing a ________________ strategy.

Correct AnswerverifiedShow Answer

Starbucks has developed a number of metrics beyond purely financial metrics.Knowing the importance of perceptions and knowing the importance of developing ways to demonstrate its activity,Starbucks tries to find clear ways to:

Correct AnswerverifiedShow Answer

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

Imagine that you are in a convenience store choosing your favorite "comfort" food instead of being in a classroom taking this test.You might notice the packaging,colors,labels,even the fonts used on labels.All of these efforts are part of the marketer's:

Correct AnswerverifiedShow Answer

Which of the following is NOT one of the four overarching strategies to create and deliver value and to develop sustainable competitive advantage?

Correct AnswerverifiedShow Answer

Marketers want their firms to develop efficient operations because this kind of efficiency:

Correct AnswerverifiedShow Answer

One example of a customer loyalty program is:

Correct AnswerverifiedShow Answer

Quitman Enterprises sells its business language dictionary to college students throughout the United States.Joseph Quitman,the owner,wants to start selling the book to international students abroad.Quitman wants to pursue a __________________ growth strategy.

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

Correct AnswerverifiedThe two bases of classification are rela...View AnswerShow Answer

The marketing planning process always proceeds sequentially through the five steps.

Correct AnswerverifiedShow Answer

STP refers to segmentation,testing,and promotion.

Correct AnswerverifiedShow Answer

Many of today's college graduates will make their livings providing goods and services to "baby boomers," the large group of Americans born in the period after World War II.Baby boomers are a _________________ market segment.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

When discussing the marketing planning process,STP stands for:

Correct AnswerverifiedShow Answer

Correct Answer
verified
Product development,because th...
View Answer

Correct Answer
verified

Correct Answer
verified
There are many possible answer...
View 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
The two bases of classification are rela...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified