Question 1

In the Boston Consulting Group (BCG) portfolio analysis,a product that serves a low-growth market but has a high market share in the industry is a:

Accepted Answer

A)   star.
B)   dog.
C)   question mark.
D)   champion.
E)   cash cow.F) A) and C)
G) C) and D)

Question 2

RON Inc.is a company that manufactures home appliances.The company has established a wide retail network to sell its products.As part of its growth strategy,the company launches a new subsidiary that manufactures office furniture.This division is expected to attract a new range of customers.In this scenario,the company applies the strategy of:

Accepted Answer

A)   market development.
B)   diversification.
C)   market penetration.
D)   intensification.
E)   product development.F) None of the above
G) C) and D)

Question 3

The board of directors of an organization meets to redefine the mission and objectives of the business.They set long-term objectives and form a new mission statement.Which of the following phases of developing a marketing plan do the actions by the board of directors constitute?

Accepted Answer

A)   Initiation
B)   Planning
C)   Design
D)   Control
E)   ImplementationF) B) and D)
G) C) and E)

Question 4

The top managers of a firm prepare a marketing plan.They define the mission and objectives of the business and evaluate the present situation of the firm.Which of the following phases of the marketing plan includes these activities performed by the top managers?

Accepted Answer

A)   Planning
B)   Implementation
C)   Control
D)   Initiation
E)   DesignF) A) and B)
G) B) and C)

Question 5

Which of the following is true of the mission statement of a company?

Accepted Answer

A)   It overlooks the fundamental business issues of a company.
B)   It specifically describes the financial performance of a company.
C)   It outlines a firm's strengths and weaknesses.
D)   It fails to address what a firm needs to do or accomplish.
E)   It is formulated in the planning phase of developing a marketing plan.F) A) and C)
G) C) and D)

Question 6

A table representing the elements considered in a SWOT analysis 
-In a SWOT analysis,which of the following is most likely to be considered as the strength of a fast-food chain?

Accepted Answer

A)   A healthy economy
B)   A favourable regulatory change
C)   Wide distribution networks
D)   Exit of a major competitor
E)   Changes in demographic patternsF) B) and E)
G) A) and D)

Question 7

Which of the following refers to a division of a company that can be managed somewhat independently from other divisions of the company since it markets a specific set of products to a clearly defined group of customers?

Accepted Answer

A)   Business branch
B)   Executive department
C)   Executive business segment
D)   Subsidiary firm
E)   Strategic business unitF) A) and D)
G) All of the above

Question 8

Alchemistro Inc.is a firm that manufactures chemical detergents and associated products.The company decides to manufacture detergent products that cater to the needs of the high-income consumers.Which of the following best describes Alchemistro's decision to specifically cater to the high-income segment?

Accepted Answer

A)   Locational excellence
B)   Downsizing
C)   Targeting
D)   Diversification
E)   Operational excellenceF) A) and B)
G) A) and D)

Question 9

Which of the following is an activity in the control phase of a marketing plan?

Accepted Answer

A)   Developing and implementing a marketing mix
B)   Identifying a business's mission and objectives
C)   Evaluating the performance of a marketing strategy
D)   Identifying the opportunities present in a market
E)   Understanding a firm's competitive strengths and weaknessesF) A) and E)
G) C) and D)

Question 10

Which of the following is an opportunity for an organization?

Accepted Answer

A)   Superior resources and capabilities
B)   Reduced competition
C)   Excellent geographic location
D)   Strong base of loyal customers
E)   Strong brandF) A) and B)
G) C) and D)

Question 11

In the context of a SWOT analysis,which of the following is considered an opportunity to businesses?

Accepted Answer

A)   Presence of wide distribution networks
B)   Availability of strong financial resources
C)   Favourable political changes
D)   Superior product offerings
E)   Presence of a strong base of loyal customersF) A) and E)
G) A) and B)

Question 12

Which of the following is an activity in the planning phase of a marketing plan?

Accepted Answer

A)   Developing and implementing a marketing mix
B)   Evaluating the performance of a marketing strategy
C)   Taking corrective actions in a firm's marketing plan
D)   Segmenting,targeting,and positioning a market
E)   Defining the mission and objectives of a businessF) A) and B)
G) C) and D)

Question 13

Paralegal Consulting Inc.,a firm that offers legal services,decides to open new branches in rural areas.The new branches would help the firm reach out to people who cannot travel to cities and avail legal help.In this case,this decision reflects the firm's strategy regarding:

Accepted Answer

A)   product.
B)   process.
C)   price.
D)   place.
E)   promotion.F) A) and B)
G) C) and E)

Question 14

Lava Scooters Inc.manufactures electric scooters with young women as its target customers.The company manufactures vehicles that have engine displacement ranging from 50 to 100 cubic centimetres.Of late,many customers have been preferring scooters that are more powerful.To satisfy such customers,the company introduces a powerful bike that has 200-cubic centimetres engine displacement.In this scenario,Lava Scooters uses the strategy of:

Accepted Answer

A)   market development.
B)   product development.
C)   market penetration.
D)   diversification.
E)   market intensification.F) All of the above
G) A) and B)

Question 15

An organization appoints a marketing manager to study the effectiveness of the marketing plan that it has implemented.The manager analyzes organizational performance using various metrics and gives a final report.In the context of developing a marketing plan,the organization is in the phase of:

Accepted Answer

A)   initiation.
B)   planning.
C)   design.
D)   control.
E)   implementation.F) C) and D)
G) B) and C)

Question 16

SleakTouch Inc.,a manufacturer of mobile phones,conducts market research to understand the market situation.The research suggests that its customers are mostly young people between the ages of 30 and 40.The company decides to focus its resources on this market segment.Given this information,the company's decision is a part of:

Accepted Answer

A)   locational excellence.
B)   operational excellence.
C)   diversification.
D)   downsizing.
E)   targeting.F) A) and B)
G) D) and E)

Question 17

Which of the following observations,if made by the external agency,will indicate that the company is facing a threat?

Accepted Answer

A)   The company incurs high transportation costs as its manufacturing facility is at a remote place.
B)   One of Arpin Stores' major competitors has recently gone bankrupt.
C)   Many of the company's employees lack interpersonal skills.
D)   A recent regulation has increased the tax rates for packaged food products.
E)   Arpin Stores has a weaker marketing department compared to its competitors.F) C) and E)
G) D) and E)

Question 18

Lego Inc.,a manufacturer of computers,has developed a brand image by delivering high-quality products at affordable prices.This image results in customers choosing Lego's products over competing products.In this case,which of the following refers to Lego's strategy of creating a distinct and desirable understanding in the minds of consumers of what its product represents?

Accepted Answer

A)   Locational excellence
B)   Market segmentation
C)   Target marketing
D)   Market positioning
E)   DownsizingF) All of the above
G) B) and C)

Question 19

Which of the following is a measure of a product's strength in a particular market?

Accepted Answer

A)   Wholesale index
B)   Industry index
C)   Market value
D)   Relative market share
E)   Market growth rateF) B) and D)
G) None of the above

Question 20

Which of the following observations,if made by the external agency,will indicate the company's strength?

Accepted Answer

A)   The market potential for packaged goods is high in the United States.
B)   Economic slowdowns do not have a significant impact in the wholesale food industry.
C)   The company has exclusive market reach in the packaged food industry.
D)   One of Arpin Stores' major competitors has recently gone bankrupt.
E)   The U.S Congress recently passed a bill to subsidize wholesale food manufacturers.F) A) and E)
G) A) and D)

Exam 2: Developing Marketing Strategies and a Marketing Plan

Which of the following is an opportunity for an organization?

Correct Answer
verified

The top managers of a firm prepare a marketing plan.They define the mission and objectives of the business and evaluate the present situation of the firm.Which of the following phases of the marketing plan includes these activities performed by the top managers?

Correct Answer
verified

Which of the following is an activity in the planning phase of a marketing plan?

Correct Answer
verified

Correct Answer
verified

Which of the following is an activity in the control phase of a marketing plan?

Correct Answer
verified

An organization appoints a marketing manager to study the effectiveness of the marketing plan that it has implemented.The manager analyzes organizational performance using various metrics and gives a final report.In the context of developing a marketing plan,the organization is in the phase of:

Correct Answer
verified

Which of the following observations,if made by the external agency,will indicate that the company is facing a threat?

Correct Answer
verified

Correct Answer
verified

Which of the following is true of the mission statement of a company?

Correct Answer
verified

Which of the following refers to a division of a company that can be managed somewhat independently from other divisions of the company since it markets a specific set of products to a clearly defined group of customers?

Correct Answer
verified

Paralegal Consulting Inc.,a firm that offers legal services,decides to open new branches in rural areas.The new branches would help the firm reach out to people who cannot travel to cities and avail legal help.In this case,this decision reflects the firm's strategy regarding:

Correct Answer
verified

A table representing the elements considered in a SWOT analysis -In a SWOT analysis,which of the following is most likely to be considered as the strength of a fast-food chain?

Correct Answer
verified

In the Boston Consulting Group (BCG) portfolio analysis,a product that serves a low-growth market but has a high market share in the industry is a:

Correct Answer
verified

Which of the following is a measure of a product's strength in a particular market?

Correct Answer
verified

In the context of a SWOT analysis,which of the following is considered an opportunity to businesses?

Correct Answer
verified

Correct Answer
verified

The board of directors of an organization meets to redefine the mission and objectives of the business.They set long-term objectives and form a new mission statement.Which of the following phases of developing a marketing plan do the actions by the board of directors constitute?

Correct Answer
verified

Correct Answer
verified

Which of the following observations,if made by the external agency,will indicate the company's strength?

Correct Answer
verified

Correct Answer
verified

Exam 2: Developing Marketing Strategies and a Marketing Plan

Which of the following is an opportunity for an organization?

Correct AnswerverifiedShow Answer

The top managers of a firm prepare a marketing plan.They define the mission and objectives of the business and evaluate the present situation of the firm.Which of the following phases of the marketing plan includes these activities performed by the top managers?

Correct AnswerverifiedShow Answer

Which of the following is an activity in the planning phase of a marketing plan?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following is an activity in the control phase of a marketing plan?

Correct AnswerverifiedShow Answer

An organization appoints a marketing manager to study the effectiveness of the marketing plan that it has implemented.The manager analyzes organizational performance using various metrics and gives a final report.In the context of developing a marketing plan,the organization is in the phase of:

Correct AnswerverifiedShow Answer

Which of the following observations,if made by the external agency,will indicate that the company is facing a threat?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following is true of the mission statement of a company?

Correct AnswerverifiedShow Answer

Which of the following refers to a division of a company that can be managed somewhat independently from other divisions of the company since it markets a specific set of products to a clearly defined group of customers?

Correct AnswerverifiedShow Answer

Paralegal Consulting Inc.,a firm that offers legal services,decides to open new branches in rural areas.The new branches would help the firm reach out to people who cannot travel to cities and avail legal help.In this case,this decision reflects the firm's strategy regarding:

Correct AnswerverifiedShow Answer

A table representing the elements considered in a SWOT analysis -In a SWOT analysis,which of the following is most likely to be considered as the strength of a fast-food chain?

Correct AnswerverifiedShow Answer

In the Boston Consulting Group (BCG) portfolio analysis,a product that serves a low-growth market but has a high market share in the industry is a:

Correct AnswerverifiedShow Answer

Which of the following is a measure of a product's strength in a particular market?

Correct AnswerverifiedShow Answer

In the context of a SWOT analysis,which of the following is considered an opportunity to businesses?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

The board of directors of an organization meets to redefine the mission and objectives of the business.They set long-term objectives and form a new mission statement.Which of the following phases of developing a marketing plan do the actions by the board of directors constitute?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following observations,if made by the external agency,will indicate the company's strength?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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