Question 1

Tropical Horizons has opened spas in Thailand,Indonesia,and Malaysia and is aggressively expanding into countries around the Mediterranean.This illustrates which of the following strategies of Ansoff's strategic opportunity matrix?

Accepted Answer

A)   Market penetration
B)   Market development
C)   Product development
D)   DiversificationE) A) and B)
F) A) and C)

Question 2

In the portfolio matrix,a business unit that generates more cash than it needs to maintain its market share is called a:

Accepted Answer

A)   star.
B)   cash cow.
C)   problem child.
D)   dog.E) None of the above
F) C) and D)

Question 3

Environmental scanning refers to the process of collecting and interpreting information about forces,events,and relationships in the external environment that may affect the future of the organization or the implementation of the marketing plan.

Accepted Answer

A) True 
 B)False

Question 4

A premise of the Boston Consulting Group model states which of the following?

Accepted Answer

A)   Diversification strategies can be risky when firms enter unfamiliar markets,even with little or no competition in those markets segments.
B)   The cash generated from cash cows should be allotted to SBUs considered to be question marks and dogs,instead of stars.
C)   Management must find a balance among the SBUs that yields the overall organization's desired growth and profits with an acceptable level of risk.
D)   Companies must rely on new,unfamiliar assets to develop the type of breakthrough decisions that would determine their sustainability in the future.E) C) and D)
F) A) and D)

Question 5

In terms of effective strategic planning,managers should establish new strategies but without challenging longstanding assumptions about the firm and the environment.

Accepted Answer

A) True 
 B)False

Question 6

The term marketing mix refers to a unique blend of product,place (distribution),promotion,and pricing strategies (often referred to as the four Ps)designed to produce mutually satisfying exchanges with a target market.

Accepted Answer

A) True 
 B)False

Question 7

According to Ansoff's strategic opportunity matrix,which of the following factors is associated with market development?

Accepted Answer

A)   Limit production.
B)   Increase the prices of existing products.
C)   Add new uses to current products.
D)   Limit resources used for promotion.E) B) and C)
F) B) and D)

Question 8

Within the context of the marketing plan,implementation involves:

Accepted Answer

A)   allocating resources.
B)   identifying market segments.
C)   defining the business mission.
D)   assessing internal capabilities of a firm.E) B) and D)
F) C) and D)

Question 9

When examining an organization's internal strengths and weaknesses during SWOT analysis,the marketing manager may not focus on organizational resources such as production costs,marketing skills,financial resources,company or brand image,employee capabilities,or available technology.

Accepted Answer

A) True 
 B)False

Question 10

RegiSure is a strategic business unit that shows low growth but has a dominant market share.Because of its market share,it should receive additional financing despite its low growth.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following statements is true of a marketing audit?

Accepted Answer

A)   It should be carried out on a regular schedule.
B)   It is always conducted by an inside party.
C)   It covers just the trouble spots of an organization.
D)   It is a process for implementing a marketing plan.E) None of the above
F) B) and C)

Question 12

MaxNutri Inc.sells cookies and nutrition bars.The marketers at MaxNutri are trying to come up with new and attractive packaging designs for its cookies.In this scenario,MaxNutri is working on its _____.

Accepted Answer

A)   purchase strategy
B)   distribution strategy
C)   advertising strategy
D)   product strategyE) B) and D)
F) A) and B)

Question 13

When properly created,a strategic business unit (SBU) of a large company:

Accepted Answer

A)   has a specific target market.
B)   plans collaboratively with other SBUs of the company.
C)   has no competitors.
D)   shares the mission of its parent company.E) A) and D)
F) A) and C)

Question 14

Which of the following firms is most likely to realize a competitive advantage through product/service differentiation?

Accepted Answer

A)   A firm that sells its products at lower costs than its competitors
B)   A firm that inhibits post-sale customer service relations
C)   A firm that provides highly reliable products
D)   A firm that solely relies on promotional strategies to increase its salesE) B) and C)
F) A) and D)

Question 15

Strategic planning should be an annual exercise in which managers quickly review the previous plan,retain the majority of previous strategies,and make only a few changes going forward so they can more easily track the success of new marketing tactics.

Accepted Answer

A) True 
 B)False

Question 16

A company is most likely to fail to achieve a marketing objective if there are changes in the environment ______.

Accepted Answer

A)   before the objective is specified and after the strategy is debated
B)   before the objective is specified and the strategy is implemented
C)   after the objective is specified and the strategy is implemented
D)   after the objective is specified and before the strategy is implementedE) A) and C)
F) B) and C)

Question 17

Which of the following statements is true of a niche strategy?

Accepted Answer

A)   Only large companies can implement a niche strategy.
B)   Companies that adopt a niche strategy target a single market segment.
C)   Only companies that do not have competitors can adopt a niche strategy.
D)   Companies that adopt a niche strategy can only gain a price advantage over competitors.E) B) and C)
F) B) and D)

Question 18

The thorough,systematic,periodic evaluation of the objectives,strategies,structure,and performance of the marketing organization is called ________.

Accepted Answer

A)   the marketing audit
B)   evaluation and control
C)   post-audit tasks
D)   post-implementation auditE) B) and C)
F) A) and B)

Question 19

Market segments cannot be differentiated by ethnicity and multicultural aspects.

Accepted Answer

A) True 
 B)False

Question 20

When following up on a marketing plan,the _____ process provides the mechanisms for evaluating marketing results in light of the plan's objectives and for correcting actions that do not help the organization reach those objectives within budget guidelines.

Accepted Answer

A)   implementation
B)   control
C)   environmental scanning
D)   post-auditE) B) and C)
F) None of the above

Exam 2: Strategic Planning and Competitive Advantage

The term marketing mix refers to a unique blend of product,place (distribution),promotion,and pricing strategies (often referred to as the four Ps)designed to produce mutually satisfying exchanges with a target market.

Correct AnswerverifiedShow Answer

Which of the following statements is true of a niche strategy?

Correct AnswerverifiedShow Answer

In the portfolio matrix,a business unit that generates more cash than it needs to maintain its market share is called a:

Correct AnswerverifiedShow Answer

When examining an organization's internal strengths and weaknesses during SWOT analysis,the marketing manager may not focus on organizational resources such as production costs,marketing skills,financial resources,company or brand image,employee capabilities,or available technology.

Correct AnswerverifiedShow Answer

Strategic planning should be an annual exercise in which managers quickly review the previous plan,retain the majority of previous strategies,and make only a few changes going forward so they can more easily track the success of new marketing tactics.

Correct AnswerverifiedShow Answer

Environmental scanning refers to the process of collecting and interpreting information about forces,events,and relationships in the external environment that may affect the future of the organization or the implementation of the marketing plan.

Correct AnswerverifiedShow Answer

When following up on a marketing plan,the _____ process provides the mechanisms for evaluating marketing results in light of the plan's objectives and for correcting actions that do not help the organization reach those objectives within budget guidelines.

Correct AnswerverifiedShow Answer

Which of the following statements is true of a marketing audit?

Correct AnswerverifiedShow Answer

When properly created,a strategic business unit (SBU) of a large company:

Correct AnswerverifiedShow Answer

Market segments cannot be differentiated by ethnicity and multicultural aspects.

Correct AnswerverifiedShow Answer

A company is most likely to fail to achieve a marketing objective if there are changes in the environment ______.

Correct AnswerverifiedShow Answer

A premise of the Boston Consulting Group model states which of the following?

Correct AnswerverifiedShow Answer

MaxNutri Inc.sells cookies and nutrition bars.The marketers at MaxNutri are trying to come up with new and attractive packaging designs for its cookies.In this scenario,MaxNutri is working on its _____.

Correct AnswerverifiedShow Answer

According to Ansoff's strategic opportunity matrix,which of the following factors is associated with market development?

Correct AnswerverifiedShow Answer

The thorough,systematic,periodic evaluation of the objectives,strategies,structure,and performance of the marketing organization is called ________.

Correct AnswerverifiedShow Answer

RegiSure is a strategic business unit that shows low growth but has a dominant market share.Because of its market share,it should receive additional financing despite its low growth.

Correct AnswerverifiedShow Answer

In terms of effective strategic planning,managers should establish new strategies but without challenging longstanding assumptions about the firm and the environment.

Correct AnswerverifiedShow Answer

Which of the following firms is most likely to realize a competitive advantage through product/service differentiation?

Correct AnswerverifiedShow Answer

Within the context of the marketing plan,implementation involves:

Correct AnswerverifiedShow Answer

Tropical Horizons has opened spas in Thailand,Indonesia,and Malaysia and is aggressively expanding into countries around the Mediterranean.This illustrates which of the following strategies of Ansoff's strategic opportunity matrix?

Correct AnswerverifiedShow Answer

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