Marketing Ch 2

Which of the following would be described as opportunities for growth within current businesses or an organization when filling a strategic planning​ gap? A. Intensive opportunities B. Product development strategies C. Diversification opportunities D. Market penetration strategies E. Integrative opportunities

A. Intensive opportunities

Which section of a marketing plan discusses the outline of marketing activities that will be​ undertaken? A. Marketing tactics B. Risk analysis C. Situation analysis D. Marketing strategy E. Financial projections

A. Marketing tactics

The​ value-delivery process consists of which three key​ activities? A. ​Identifying, providing, and communicating superior value B. ​identifying, providing, and advertising superior value C. ​Targeting, providing, and communicating superior value D. ​Identifying, creating, and communicating superior value E. ​Identifying, targeting, and communicating to the marketplace

A. ​Identifying, providing, and communicating superior value

SWOT refers to an evaluation of​ ________? A. ​strengths, weaknesses,​ opportunities, and threats B. ​sales, work in​ progress, opportunities, and timing C. ​strengths, work in​ progress, occupational​ hazards, and timing D. ​sales, weaknesses, occupational​ hazards, and timing E. ​strengths, web​ access, opportunities, and threats

A. ​strengths, weaknesses,​ opportunities, and threats

Which of the following best contributes to a meaningful mission​ statement? A. A statement that limits the competitive dimensions of an organization B. A statement that stresses the​ company's major policies and values C. A vague statement that covers several goals D. A statement that is short term and can be revised as markets change E. A statement that is detailed and complex

B. A statement that stresses the​ company's major policies and values

Which of the following represents shared beliefs and norms that characterize an​ organization? A. Market definitions of a business B. Corporate culture C. Innate qualities D. Mission statement E. Strategic marketing plan

B. Corporate culture

Which of the following is a plan that contains financial allocations for a predetermined​ period? A. External relationship plan B. Marketing plan C. Risk analysis D. Marketing action plan E. Contingency plan

B. Marketing plan

Which of the following represents the goals of an​ organization, both now and in the​ future? A. Target market B. Mission statement C. Market penetration strategy D. Strategic market definition E. Strategic business units

B. Mission statement

Which type of growth is most beneficial when a company has the right mix of business strengths to succeed in opportunities that exist outside of its present​ business? A. Divesting to rebuild and grow B. Intensive growth C. Diversification growth D. Integrative growth E. Market penetration growth

C. Diversification growth

Which of the following most completely lists the typical contents of a marketing​ plan? A. Executive summary and table of​ contents, sales​ analysis, marketing​ strategy, financial​ projections, and implementation controls B. Executive summary and table of​ contents, product​ analysis, marketing​ strategy, financial​ projections, and action items and implementation plan C. Executive summary and table of​ contents, situation​ analysis, marketing​ strategy, marketing​ tactics, financial​ projections, and implementation controls D. Executive summary and table of​ contents, product​ analysis, marketing​ strategy, financial​ projections, and implementation controls E. Executive summary and table of​ contents, situation​ analysis, marketing​ strategy, advertising and sales promotion​ plan, financial​ projections, and implementation controls

C. Executive summary and table of​ contents, situation​ analysis, marketing​ strategy, marketing​ tactics, financial​ projections, and implementation controls

When one company agrees to carry a promotion for another​ company's product, what is​ created? A.Logistics alliance B.Partner relationship management C.Promotional alliance D.Pricing collaboration E. Product alliance

C. Promotional alliance

When managing by​ objectives, which of the following criteria is least​ helpful? A. The goals must be arranged hierarchically. B. The objectives should have consistency between the goals. C. The goals must be flexible and allow for market fluctuations. D. The goals should be measurable. E. The goals should arise from the businesses strengths.

C. The goals must be flexible and allow for market fluctuations.

Achieving superior performance in an important area valued by customers is an example of​ ________. A. cost leadership B.focus C. differentiation D.strategy E. goal formulation

C. differentiation

Which of the following innate qualities are often found in chief marketing officers​ (CMOs)? A. Digital focus B. Multichannel expertise C. Global experience D. Being a change agent E. Operational knowledge

D. Being a change agent

Once a company has performed a SWOT analysis on its strengths and​ weaknesses, what should be the next​ step? A. Corporate strategy formulation B. Strategic formulation C. Internal environment analysis D. Goal formulation E. Forming strategic alliances

D. Goal formulation

What is the written document that summarizes what the marketer has learned and how a firm plans to reach marketing​ objectives? A. Marketing action plan B. External relationship plan C. Risk analysis D. Marketing plan E. Contingency plan

D. Marketing plan

Which of the following asks consumers to describe their steps in acquiring and using a​ product, and might lead to a totally new​ product? A.A market opportunity analysis B. The problem detection method C. A SWOT analysis D. The consumption chain E. The microenvironment factors method

D. The consumption chain

Which of the following should be one of the goals of a​ well-developed marketing​ plan? A. The plan should avoid detail and remain general. B. The plan should enable marketers to challenge themselves in terms of sales and budgets. C. The plan should include measurable objectives with general descriptions of actions needed to achieve the objectives. D. The plan should be simple and succinct. E. The plan should be general enough to allow for changes in the marketplace.

D. The plan should be simple and succinct.

Which of the following is a tool for identifying ways to create more customer​ value? A. Core competencies B. The​ market-sensing process C. The market plan D. The value chain E. Strategic planning

D. The value chain

Which of the following is true regarding core​ competencies? A. Core competencies are minimized by geographic location and brand identity. B. Core competencies limit competitive advantage. C. Core competencies are critical components in a marketing plan. D. Core competencies are specifically tied to distinctive capabilities in the broader business process. E. Core competencies are difficult for competitors to imitate.

E. Core competencies are difficult for competitors to imitate. (three characteristics: 1. source of competitive advantage and makes a significant contribution to perceived customer​ benefits 2. has applications in a wide variety of​ markets 3. is difficult for competitors to imitate.)

A part of the marketing plan is marketing strategy which focuses on​ _____________. A. Situation analysis B. Sales forecasts C. ​Break-even analysis D. the target market E. Mission and objectives

E. Mission and objectives

Which of the following focuses on the potential​ market? A. Mission statement development B. Diversification strategy C. Market vision D. Market penetration strategy E. Strategic market definition

E. Strategic market definition

Which process includes researching new​ high-quality offerings quickly and within​ budget? A. The customer relationship management process B. The market sensing process C. The customer acquisition process D. The fulfillment management process E. The​ new-offering realization process

E. The​ new-offering realization process

The value chain is a tool for identifying key activities that​ ___________________. A. create vendor management processes and costs in a specific business B. create product development value and costs in a specific business C. create sales and costs in a specific business D. create manufacturing value and costs in a specific business E. create value and costs in a specific business

E. create value and costs in a specific business