Question 1

A marketing mix typically encompasses__________strategies.

Accepted Answer

The answer of A marketing mix typically encompasses__________strategies....

Question 2

Target markets can be selected by appealing to the entire market with one marketing mix.

Accepted Answer

A) True 
 B)False

Question 3

​_____ is a thorough,systematic,periodic evaluation of the objectives,strategies,structure,and performance of the marketing organization.

Accepted Answer

A)  Marketing mix
B)  ​Article of incorporation
C)  ​Statement of qualification
D)  Marketing auditE) C) and D)
F) A) and B)

Question 4

Beta Inc.manufactures electronic gadgets.The market researchers at Beta have discovered that a new competitor is gaining more customers by selling its products at lower prices.In the context of SWOT analysis,the marketers at Beta Inc.are most likely to consider this situation as a(n) _____.​

Accepted Answer

A)  threat
B)  ​opportunity
C)  ​strength
D)  weaknessE) B) and C)
F) None of the above

Question 5

Cost competitive advantage can be achieved by:

Accepted Answer

A)  avoiding reverse engineering efforts.
B)  avoiding manufacturing products in bulk.
C)  avoiding marginal customers.
D)  avoiding government subsidies.E) A) and B)
F) A) and C)

Question 6

Which of the following actions is closely associated with the niche strategy?

Accepted Answer

A)  Choosing a target market that is not crucial for the success of major competitors
B)  Manufacturing products in bulk and targeting the average customer
C)  Selling products that do not have extra frills
D)  Creating cross-departmental teams across all the strategic business unitsE) A) and B)
F) A) and C)

Question 7

Which of the following is associated with the market development strategy?

Accepted Answer

A)  Limiting the production of products
B)  Increasing the prices of products
C)  Adding new features to products
D)  Limiting resources used for promotionE) B) and C)
F) A) and B)

Question 8

Which of the following statements is true about stars in the portfolio matrix?

Accepted Answer

A)  They have low growth potential and small market shares.
B)  They require minimal funding.
C)  They have low market shares in high-growth industries.
D)  They are fast growing market leaders.E) A) and B)
F) B) and C)

Question 9

A marketing mix typically encompasses _____ strategies.​

Accepted Answer

A)  pricing
B)  ​divestment
C)  ​anti-competitive
D)  trade restraintE) A) and B)
F) B) and C)

Question 10

A product/service differentiation competitive advantage refers to defining a business in terms of goods and services rather than in terms of the benefits customers seek.

Accepted Answer

A) True 
 B)False

Question 11

A sustainable competitive advantage is a function of the speed with which competitors can imitate a leading company's strategy and plans.

Accepted Answer

A) True 
 B)False

Question 12

Discuss the process of market opportunity analysis.

Accepted Answer

The target market strategy identifies th...

Question 13

A marketing strategy involves the activities of selecting and describing one or more target markets.

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

A)  point of purchase
B)  ​distribution
C)  ​advertising
D)  product.E) C) and D)
F) All of the above

Question 15

An ideal marketing penetration strategy would be to offer cash backs and discounts on products to customers.

Accepted Answer

A) True 
 B)False

Question 16

Market segments cannot be differentiated by demographic characteristics.

Accepted Answer

A) True 
 B)False

Question 17

A marketing strategy involves developing and maintaining a marketing mix.

Accepted Answer

A) True 
 B)False

Question 18

Marketing objectives must be consistent with and indicate the priorities of the organization.

Accepted Answer

A) True 
 B)False

Question 19

​In the context of marketing planning,_____ 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)  marketing myopiaE) A) and C)
F) A) and B)

Question 20

Marketing objectives serve as motivators by creating something for employees to strive for.

Accepted Answer

A) True 
 B)False

Exam 2: Strategic Planning for Competitive Advantage

​_____ is a thorough,systematic,periodic evaluation of the objectives,strategies,structure,and performance of the marketing organization.

Correct AnswerverifiedShow Answer

A marketing strategy involves developing and maintaining a marketing mix.

Correct AnswerverifiedShow Answer

Cost competitive advantage can be achieved by:

Correct AnswerverifiedShow Answer

Marketing objectives serve as motivators by creating something for employees to strive for.

Correct AnswerverifiedShow Answer

A product/service differentiation competitive advantage refers to defining a business in terms of goods and services rather than in terms of the benefits customers seek.

Correct AnswerverifiedShow Answer

A marketing mix typically encompasses _____ strategies.​

Correct AnswerverifiedShow Answer

​In the context of marketing planning,_____ 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

Target markets can be selected by appealing to the entire market with one marketing mix.

Correct AnswerverifiedShow Answer

Which of the following actions is closely associated with the niche strategy?

Correct AnswerverifiedShow Answer

A marketing strategy involves the activities of selecting and describing one or more target markets.

Correct AnswerverifiedShow Answer

A marketing mix typically encompasses__________strategies.

Correct AnswerverifiedShow Answer

Which of the following is associated with the market development strategy?

Correct AnswerverifiedShow Answer

Discuss the process of market opportunity analysis.

Correct AnswerverifiedThe target market strategy identifies th...View AnswerShow Answer

An ideal marketing penetration strategy would be to offer cash backs and discounts on products to customers.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Market segments cannot be differentiated by demographic characteristics.

Correct AnswerverifiedShow Answer

Marketing objectives must be consistent with and indicate the priorities of the organization.

Correct AnswerverifiedShow Answer

Which of the following statements is true about stars in the portfolio matrix?

Correct AnswerverifiedShow Answer

Beta Inc.manufactures electronic gadgets.The market researchers at Beta have discovered that a new competitor is gaining more customers by selling its products at lower prices.In the context of SWOT analysis,the marketers at Beta Inc.are most likely to consider this situation as a(n) _____.​

Correct AnswerverifiedShow Answer

A sustainable competitive advantage is a function of the speed with which competitors can imitate a leading company's strategy and plans.

Correct AnswerverifiedShow Answer

_____ is a thorough,systematic,periodic evaluation of the objectives,strategies,structure,and performance of the marketing organization.

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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A marketing mix typically encompasses _____ strategies.

Correct Answer
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In the context of marketing planning,_____ 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 Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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The target market strategy identifies th...
View Answer

Correct Answer
verified

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

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
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Beta Inc.manufactures electronic gadgets.The market researchers at Beta have discovered that a new competitor is gaining more customers by selling its products at lower prices.In the context of SWOT analysis,the marketers at Beta Inc.are most likely to consider this situation as a(n) _____.

Correct Answer
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Correct Answer
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