This document contains 38 multiple choice questions about marketing strategies and processes. It discusses topics like strategic planning, analyzing internal and external environments, portfolio models, marketing implementation and control, and developing marketing plans.
This document contains 38 multiple choice questions about marketing strategies and processes. It discusses topics like strategic planning, analyzing internal and external environments, portfolio models, marketing implementation and control, and developing marketing plans.
This document contains 38 multiple choice questions about marketing strategies and processes. It discusses topics like strategic planning, analyzing internal and external environments, portfolio models, marketing implementation and control, and developing marketing plans.
This document contains 38 multiple choice questions about marketing strategies and processes. It discusses topics like strategic planning, analyzing internal and external environments, portfolio models, marketing implementation and control, and developing marketing plans.
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This activity contains 38 questions.
Successful companies know how to adapt to a
continuously changing marketplace through ____, the managerial process of developing and maintaining a viable fit between the organization's objectives, skills, and resources, and its changing market opportunities.
Market-oriented strategic planning
Strategic planning
Environmental planning
Market planning
The ____ plan is the central instrument for directing and coordinating the market effort.
Strategic
Marketing
Sales
Marketing-oriented
A business can be defined in terms of three dimensions: _____.
Customer groups, customer needs, and technology
Product line, customer needs, technology
Customer groups, customer needs, profit
Product line, profit, technology
According to the Boston Consulting Group model (BCC), which of the following are businesses or SBUs that operate in high-growth markets but have a low relative market share?
Star
Question mark
Dog
Cash cow
According to the BCC model, and given your knowledge of the technical environment, an SBU that manufactures a dot-matrix printer would be an example of a _____.
Star
Question mark
Cash cow
Dog
The General Electric model categorizes SBUs in terms of _____.
Business strength and market attractiveness
Sales and profits
Market growth rate and relative market share
Net income and return on investment
____ is a challenge posed by unfavorable external trends that, in the absence of defensive marketing activities, would lead to deterioration in sales or profits.
An environmental threat
An internal environment analysis
A marketing threat
A marketing opportunity analysis
The Business Strategic Planning Process starts with _______.
The mission statement
Goal formulation
SWOT analysis
Issue analysis
Strategy formulation
The overall evaluation of a business's strengths, weaknesses, opportunities, and threats is called ____.
SWOT analysis
External environment analysis
Customer and competitor analysis
Internal analysis
Marketing alliances may involve ________.
Products or services
Promotions
Loyalties
Pricing
All of the above.
All of the following, except ___, are steps in the marketing process.
Analyzing market opportunities
Developing marketing strategies
Planning marketing programs
Analyzing the current sales situation
Managing the marketing effort
Which of the following factors can influence a company's marketing strategy?
Demographic environment
Political environment
Technological environment
Cultural environment
All of the above
Companies that produce a variety of products and brands often establish a ____ management organization as another layer of management within the marketing function.
Product or brand
Service
Consumer product
Distribution oriented
Which of the following is not usually part of a firm's marketing plan?
SWOT analysis
Action plan
Projected profit and loss statement
Mission statement
____ aims to ensure that the company achieves the sales, profits, and other goals established in its
annual plan.
Annual plan control
Profitability control
Efficiency control
Strategic control
The process that turns marketing plans into action assignments and ensures that such assignments are executed in a manner that accomplishes the plan's stated objectives is called ____.
Marketing implementation
Strategic marketing
The marketing audit
Corporate strategic planning
_____ measures the relative contribution of different factors to a gap in sales performance.
Microsales analysis
Sales analysis
Sales variance analysis
Financial analysis
In general, ______ indicates the relative profitability of different channels, products,
territories, or other marketing entities.
Relative marketing profitability analysis
Profitability analysis
Sales and profit analysis
The marketing plan
Business success and continually satisfying customers and other stakeholders are closely tied to _____.
The organization's technical skill base
The adoption and implementation of high standards of business and marketing conduct.
The organization's level of marketing expertise
The organization's efficiency
A ____ records how well the company is doing on such customer-based measures as new customers, dissatisfied customers, lost customers, target market awareness, relative product quality, and relative service quality.
Stakeholder performance
Customer performance scorecard
Marketing implementation scorecard
Marketing effectiveness scorecard
Starbucks got its start in Seattle in the 1970's
selling fresh ground coffee beans to local coffee lovers.
True False
The marketing plan operates at two levels: strategic and tactical.
True False
Organizations develop mission statements to share with management, employees, and even customer.
True False
Portfolio models should be used cautiously.
True False
According to the authors, there are three main types of marketing control: annual plan, profitability, and strategic.
True False
In order to deal with surprises that occur during the implementation of marketing plans, the marketing department has to monitor and control marketing activities continuously.
True False
From time to time, companies need to undertake a critical review of overall marketing goals and effectiveness.
True False
Market-oriented strategic planning is the managerial process of developing and maintaining a viable fit among the organization's objectives, skills, resources, and its changing market opportunities.
True False
A marketing-effectiveness review is a comprehensive systematic, independent, and periodic examination of a company's marketing environment, objectives, strategies, and activities.
True False
A stockholder-performance scorecard tracks the satisfaction of constituencies who have a critical interest in and impact on the company's performance, employees, suppliers, banks, distributors, retailers, and stockholders.
True False
In a customer management organization, companies organize to understand and deal with individual customers rather than with the mass market or even market segments.
True False
A company selling in a national market often organizes its sales force (and sometimes other functions, including marketing) along geographic lines.
True False
A firm's marketing plan should start with a review of the current marketing situation.
True False
Planning at the corporate, division, and business levels is not an integral part of the marketing process.
True False
A company's strategic fit with the environment will inevitably erode because the market environment changes faster than the company's 7-Ss.