MKT EXAM 1

The following numbers are the steps for companies to enter global markets. Which of the following put them in the correct order? 1. Which markets to enter 2. Whether to go global 3. Level of commitment 4. How to adapt marketing mix strategies

2,1,3,4

How many levels fo business planning are there?

3

Which country has the lowest stage of economic development?

Africa

What would be an example of a strategic business unit in a company? a. Smartphones b. Games c. Financial services d. Music e. All of the above

All of the above

Which of the following are one of the types of utility? a. Social b. Environmental c. Possession d. Place e. Both Possession and Place

Both possession and place

Which off the following refers to a plan to include the decisions that guide the entire organization? a. Strategic plan b. Business plan c. Functional plan d. Operational plan e. SBU's

Business Plan

What does B2B stand for?

Business to business

Who are the strategic founders?

CEO, COO, CMO, CFO

Which of the following is NOT apart of ethical values according to the American Marketing Association Code of Ethics? a. Honesty b. Responsibility c. Openness d. Fairness e. Egocentic

Egocentric

Which of the following is a type of business planning? a. Logical planning b. Customer planning c. Functional planning d. Environmental planning e. Sustainable planning

Functional Planning

Which is NOT one of the key factors in deciding to go global? a. To go or not to go b. Attractive market c. Level of commitment d. Standardize or localize e. Future monetary gain

Future monetary gain

What is a damaging consequence if a marketing action is proven to be unethical? a. Jobs are lost b. Companies reputation is better than before c. More investments are made d. There are no consequences e. Long-term relationships are established

Jobs are lost

Which company would have a strategic business unit? a. Local restaurant b. Law firm c. Local private school d. Large multinational corporation e. Sports bar

Large multinational corporation

Which of the following is part of the three levels of business planning? a. Operational b. Governmental c. Financial d. Environmental e. Legal

Operational

Which of the following is NOT part of strategic planning? a. Objectives b. Environment c. Portfolio analysis d. Operations e. Define mission

Operations

You are the marketing director for a chain of grocery stores. In your area the popularity of at home meals has increased. Which part of SWOT analysis is this example? a. Opportunity b. Strength c. Threat d. Weakness e. Helpful

Opportunity

Which of the following is not apart of the 4 P's? a. Product b. Place c. People d. Promotion e. Price

People

All of these are elements of the marketing environment except a. Technological b. political/legal c. Sociocultural d. Competitive e. Philosophical

Philosophical

What is one of the components of the Marketing Mix? a. Place strategy b. Functional planning c. Green marketing d. Market planning e. None of these

Place strategy

Which of the following is not one of the four strategies to a sustainable. competitive market? a. Customer Excellence b. Operation Excellence c. Planning Excellence d. Product Excellence e. Locational Excellence

Planning Excellence

What is the name of the process that assesses elements and securities in a business? a. Financial process b. Portfolio analysis c. Managerial process d. Marketing analysis e. Functional process

Portfolio analysis

Which of the following is NOT one of the 4 P's? a. Product b. Price c. Place d. Promotion e. Process

Process

Which answer is one of the 4 p's? a. Product b. Planning c. Prime d. Presentation

Product

Which marketing era matches to statement,"if produced, someone will buy." a. production era b. relationship era c. sales era d. TBL era

Production era

Which of the following is not an external environmental factor affecting a firm's marketing strategy? a. Political b. Technological c. Legal d. Safety e. Cultural

Safety

Which SBU's are products that have a dominant market share in high-growth markets? a. Cash cow b. Dog c. Star d. Question mark e. Cat

Star

Which type of business planning incorporates "Portfolio analysis"? a. Functional Planning b. Strategic Planning c. Operational Planning

Strategic Planning

A __________ is the execution of the elements of a plan based on goals and objectives to bring about a desired future.

Strategy

Which of the following is not part of the business cycle? a. Recovery b. Suffering c. Prosperity d. Recession e. Depression

Suffering

In the acronym "SWOT" what does the "T" stand for? a. Tariffs b. Threats c. Target d. Trade d. Tax

Threat

What is something referred to being in the future for a marketing or business person? a. Marketing plan b. Financial plan c. Vision d. SWOT analysis e. Stars

Vision

You are the marketing director for a furniture delivery company. Unfortunately, your delivery trucks are unreliable and cause problems for customers and the business alike. Which part of the SWOT analysis is this example? a. Weakness b. Nightmare c. Opportunity d. Threat e.Strength

Weakness