Question 1

What term is used for the positive gain from a business operation after all of the expenses have been subtracted?

Accepted Answer

A)  gross margin
B)  total sales
C)  revenue
D)  profit
E)  earningsF) None of the above
G) A) and E)

Question 2

What part of the financial section of a marketing plan provides readers of the plan a bottom-line estimate of the organization's profitability?

Accepted Answer

A)  the cost detail
B)  the accounting detail
C)  the accounting projections
D)  the profit estimates
E)  the financial projectionsF) None of the above
G) C) and D)

Question 3

The three basic characteristics of a quality marketing objective is that it be

Accepted Answer

A)  vague,simplistic,and easy to understand.
B)  broad,detailed,and measurable.
C)  specific,tailored,and recognizable.
D)  specific,measurable,and realistic.
E)  far reaching,thorough,and measurablE.F) A) and B)
G) All of the above

Question 4

The BCG Matrix divides products into four categories: stars,question marks,cows,and skunks.

Accepted Answer

A) True 
 B)False

Question 5

The marketing strategy that emphasizes selling more of existing goods and services to existing customers is called

Accepted Answer

A)  market penetration.
B)  product development.
C)  market development.
D)  positioning.
E)  diversification.F) None of the above
G) A) and E)

Question 6

Which of the following is a risk of licensing in an international market?

Accepted Answer

A)  The licensor may create its own competition.
B)  The licensor has to pay the licensee money to enter the arrangement.
C)  The licensor may misuse trademarks.
D)  The licensor doesn't know enough about the branD.
E)  Locally owned licensees don't know much about the local customers.F) C) and D)
G) A) and E)

Question 7

A quality marketing objective should have three basic characteristics.It should be specific,measurable,and ________.

Accepted Answer

The answer of A quality marketing objective should have three...

Question 8

As it pertains to a situation analysis,the term market refers to

Accepted Answer

A)  the group of consumers that are interested in and able to buy a particular product.
B)  the competitive forces that impact how a product will be sold.
C)  the entire product offering of a firm that must be promoted.
D)  the environment in which a particular product will be solD.
E)  the collective form of promotions for any given product.F) A) and C)
G) C) and D)

Question 9

What two forecasts are used in a break-even analysis?

Accepted Answer

A)  production and sales
B)  profit and loss
C)  revenue and production
D)  market share and sales
E)  sales and expenseF) A) and E)
G) C) and E)

Question 10

According to your text,perhaps the most common mistake a firm makes when conducting a SWOT analysis is

Accepted Answer

A)  looking at only the firm's strengths.
B)  failing to involve all departments in the analysis.
C)  failing to separate internal issues from external issues.
D)  underestimating the competitive environment.
E)  not looking at the firm's financial statements.F) A) and E)
G) None of the above

Question 11

_______ helps to overcome barriers such as increased regulation,rising research and development costs,and shortened product lifestyles,which is why the use of this market-entry strategy has increased significantly in recent years.

Accepted Answer

The answer of _______ helps to overcome barriers such as...

Question 12

The _____ section of the marketing plan comprises a detailed description of not only the good or service itself,but also any warranties or guarantees.

Accepted Answer

The answer of The _____ section of the marketing plan...

Question 13

Daryl recently took a marketing job with a new firm.His first order of business is to find out how his new company performs relative to its competitors.Which of the following would Daryl use to do this?

Accepted Answer

A)  revenue analysis
B)  gross margin
C)  market share analysis
D)  profitability analysis
E)  return on marketing investmentF) B) and D)
G) A) and B)

Question 14

What information does a break-even analysis provide for a firm?

Accepted Answer

A)  how much profit a firm needs to make before diversification can take place
B)  the length of time that it will take for a company to pay off all its debts
C)  how much the company needs to sell to cover its expenses
D)  what market share the company needs to attain to surpass its competitors
E)  a bottom-line estimate of the firm's profitabilityF) B) and C)
G) D) and E)

Question 15

The three subsections of the ______ ______ are a market summary,SWOT analysis,and a competition analysis.

Accepted Answer

The answer of The three subsections of the ______ ______...

Question 16

Compare each of the following to determine which one accurately describes a joint venture.

Accepted Answer

A)  a contractual arrangement in which a fee is paid to have the right to open a business using the parent company's business name and to receive marketing and operational support
B)  an arrangement where a domestic firm partners with a foreign company to create a new entity,thus allowing the domestic firm to enter the foreign company's market
C)  a legal process in which one firm pays to use or distribute another firm's resources,including products,trademarks,patents,intellectual property,or other proprietary knowledge
D)  a contractual arrangement where a foreign firm agrees to manufacture products for a domestic firm
E)  an arrangement in which a domestic firm actively manages a foreign company or overseas facilitiesF) A) and B)
G) All of the above

Question 17

What element of the marketing plan helps firms understand where they are currently and how best to move forward?

Accepted Answer

A)  the situation analysis
B)  the marketing strategy
C)  the financials
D)  the controls
E)  the executive summaryF) A) and E)
G) A) and C)

Question 18

The primary strategic planning tool for guiding the firm's marketing strategy is the _____ plan.

Accepted Answer

The answer of The primary strategic planning tool for guiding...

Question 19

The practice of measuring,managing,and analyzing marketing performance is referred to as

Accepted Answer

A)  diversification.
B)  marketing analytics.
C)  situation analysis.
D)  positioning.
E)  market segmentation.F) C) and D)
G) A) and B)

Question 20

Which of the following products would most likely be considered a dog?

Accepted Answer

A)  e-reader
B)  iPod
C)  laptop
D)  microwave oven
E)  compact discF) All of the above
G) B) and C)

Exam 2: Strategic Planning

What part of the financial section of a marketing plan provides readers of the plan a bottom-line estimate of the organization's profitability?

Correct AnswerverifiedShow Answer

What term is used for the positive gain from a business operation after all of the expenses have been subtracted?

Correct AnswerverifiedShow Answer

What information does a break-even analysis provide for a firm?

Correct AnswerverifiedShow Answer

Daryl recently took a marketing job with a new firm.His first order of business is to find out how his new company performs relative to its competitors.Which of the following would Daryl use to do this?

Correct AnswerverifiedShow Answer

_______ helps to overcome barriers such as increased regulation,rising research and development costs,and shortened product lifestyles,which is why the use of this market-entry strategy has increased significantly in recent years.

Correct AnswerverifiedShow Answer

The primary strategic planning tool for guiding the firm's marketing strategy is the _____ plan.

Correct AnswerverifiedShow Answer

The three subsections of the ______ ______ are a market summary,SWOT analysis,and a competition analysis.

Correct AnswerverifiedShow Answer

Which of the following products would most likely be considered a dog?

Correct AnswerverifiedShow Answer

The _____ section of the marketing plan comprises a detailed description of not only the good or service itself,but also any warranties or guarantees.

Correct AnswerverifiedShow Answer

A quality marketing objective should have three basic characteristics.It should be specific,measurable,and ________.

Correct AnswerverifiedShow Answer

The BCG Matrix divides products into four categories: stars,question marks,cows,and skunks.

Correct AnswerverifiedShow Answer

Which of the following is a risk of licensing in an international market?

Correct AnswerverifiedShow Answer

The marketing strategy that emphasizes selling more of existing goods and services to existing customers is called

Correct AnswerverifiedShow Answer

The three basic characteristics of a quality marketing objective is that it be

Correct AnswerverifiedShow Answer

The practice of measuring,managing,and analyzing marketing performance is referred to as

Correct AnswerverifiedShow Answer

As it pertains to a situation analysis,the term market refers to

Correct AnswerverifiedShow Answer

What element of the marketing plan helps firms understand where they are currently and how best to move forward?

Correct AnswerverifiedShow Answer

According to your text,perhaps the most common mistake a firm makes when conducting a SWOT analysis is

Correct AnswerverifiedShow Answer

What two forecasts are used in a break-even analysis?

Correct AnswerverifiedShow Answer

Compare each of the following to determine which one accurately describes a joint venture.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

The three subsections of the are a market summary,SWOT analysis,and a competition analysis.

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

Correct Answer
verified