Question 1

Which of the following practices can help businesses gain a cost competitive advantage?

Accepted Answer

A)  ​Using simplified production techniques
B)  Using expensive raw materials
C)  Customizing products with extra frills
D)  ​Focusing on serving marginal customersE) A) and B)
F) A) and C)

Question 2

Unlike a sustainable competitive advantage,a cost competitive advantage:

Accepted Answer

A)  ​does not ensure satisfactory profit margins.
B)  requires business firms to reduce after-purchase service options.
C)  involves producing goods that cannot be copied by competitors.
D)  ​is subject to continual erosion.E) A) and D)
F) A) and C)

Question 3

According to Ansoff's strategic opportunity matrix,a firm that adopts a diversification strategy:

Accepted Answer

A)  ​will profit if it enters a new market with little competition.
B)  will be free from risks in unfamiliar markets.
C)  will decrease the prices of existing products.
D)  ​will sell modified products to existing customers in existing markets.E) B) and D)
F) A) and B)

Question 4

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

Accepted Answer

A)  ​purchase strategy
B)  distribution strategy
C)  advertising strategy
D)  ​product strategyE) A) and C)
F) A) and B)

Question 5

Unlike product development,market development involves opening businesses in markets that are already served by separate,well-established companies.

Accepted Answer

A) True 
 B)False

Question 6

According to Ansoff's strategic opportunity matrix,both product development and diversification entail creating new products.

Accepted Answer

A) True 
 B)False

Question 7

When properly created,a strategic business unit (SBU)

Accepted Answer

A)   has a specific target market.​
B)   plans collaboratively with other SBUs of the company
C)   has no competitors.
D)  ​ shares the mission of its parent company.E) B) and C)
F) A) and D)

Question 8

Which of the following activities is carried out during implementation of a marketing plan?

Accepted Answer

A)  ​Defining the business mission
B)  Performing marketing audit
C)  Setting up strategic business units
D)  ​Creating and managing a task forceE) A) and C)
F) B) and C)

Question 9

In the context of marketing planning,implementation involves:

Accepted Answer

A)  ​allocating resources.
B)  identifying market segments.
C)  defining the business mission.
D)  ​assessing internal capabilities of a firm.E) A) and D)
F) None of the above

Question 10

Jove Inc.is a chocolate manufacturer in the city of Lumberne.While most of the companies in the market produce not more than three basic varieties of chocolates,Jove Inc.sells over 50 different varieties of flavored chocolates.This gives it an edge over the other chocolate makers in Lumberne.This is an example of _____.

Accepted Answer

A)  ​a divestment
B)  market penetration
C)  a sustainable competitive advantage
D)  ​diversificationE) B) and D)
F) B) and C)

Question 11

Marketing managers rely on customer databases for effective implementation of the market penetration strategy.

Accepted Answer

A) True 
 B)False

Question 12

According to the Boston Consulting Group's (BCG's)portfolio matrix,a dog shows rapid growth but poor profit margins.

Accepted Answer

A) True 
 B)False

Question 13

_____ is the strategy of preserving market share so that an organization can take advantage of the very positive cash flow.

Accepted Answer

A)  ​Building
B)  Holding
C)  Harvesting
D)  ​DivestingE) All of the above
F) B) and C)

Question 14

In the context of marketing planning,which of the following statements is true of implementation?

Accepted Answer

A)  ​It gauges the extent to which marketing objectives have been achieved during the specified time period. 
B)  Brilliant marketing plans succeed even without proper implementation.
C)  It involves a lot of communication for executing a plan.
D)  ​Managers hold the power to decide and implement decisions rather than delegating it.E) All of the above
F) A) and C)

Question 15

RegiSure is a strategic business unit that shows low growth but has a dominant market share.Since it has a dominant market share,it should be additionally financed despite its low growth.

Accepted Answer

A) True 
 B)False

Question 16

In the context of implementation,which of the following statements is true of a task force?

Accepted Answer

A)  ​Authority is equally vested to each employee.
B)  It is established to accomplish a single goal or mission.
C)  It works independent of a specific deadline.
D)  ​Task force is set up for simple rather than strategic plans.E) None of the above
F) A) and B)

Question 17

Discuss the process of market opportunity analysis.

Accepted Answer

Answers will vary.The target market stra...

Question 18

Individuals in the age group of 11 to 16 years who extensively use the internet is an example of a market segment.

Accepted Answer

A) True 
 B)False

Question 19

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

Accepted Answer

A)  ​Marketing mix
B)  Diversification
C)  Core innovation
D)  ​Marketing auditE) A) and B)
F) A) and C)

Question 20

Issues such as product lines,promotional communications,and pricing are all delineated in the _____.

Accepted Answer

A)  ​statement of qualification
B)  article of incorporation
C)  marketing plan
D)  ​financial statementE) B) and C)
F) None of the above

Exam 2: Strategic Planning for Competitive Advantage

Unlike product development,market development involves opening businesses in markets that are already served by separate,well-established companies.

Correct Answer
verified

Unlike a sustainable competitive advantage,a cost competitive advantage:

Correct Answer
verified

Issues such as product lines,promotional communications,and pricing are all delineated in the _____.

Correct Answer
verified

In the context of marketing planning,implementation involves:

Correct Answer
verified

In the context of marketing planning,which of the following statements is true of implementation?

Correct Answer
verified

Correct Answer
verified

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

Correct Answer
verified

In the context of implementation,which of the following statements is true of a task force?

Correct Answer
verified

RegiSure is a strategic business unit that shows low growth but has a dominant market share.Since it has a dominant market share,it should be additionally financed despite its low growth.

Correct Answer
verified

Individuals in the age group of 11 to 16 years who extensively use the internet is an example of a market segment.

Correct Answer
verified

When properly created,a strategic business unit (SBU)

Correct Answer
verified

Discuss the process of market opportunity analysis.

Correct Answer
verified
Answers will vary.The target market stra...
View Answer

_____ is the strategy of preserving market share so that an organization can take advantage of the very positive cash flow.

Correct Answer
verified

According to the Boston Consulting Group's (BCG's)portfolio matrix,a dog shows rapid growth but poor profit margins.

Correct Answer
verified

According to Ansoff's strategic opportunity matrix,both product development and diversification entail creating new products.

Correct Answer
verified

Which of the following activities is carried out during implementation of a marketing plan?

Correct Answer
verified

Marketing managers rely on customer databases for effective implementation of the market penetration strategy.

Correct Answer
verified

Which of the following practices can help businesses gain a cost competitive advantage?

Correct Answer
verified

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

Correct Answer
verified

According to Ansoff's strategic opportunity matrix,a firm that adopts a diversification strategy:

Correct Answer
verified

Exam 2: Strategic Planning for Competitive Advantage

Unlike product development,market development involves opening businesses in markets that are already served by separate,well-established companies.

Correct AnswerverifiedShow Answer

Unlike a sustainable competitive advantage,a cost competitive advantage:

Correct AnswerverifiedShow Answer

Issues such as product lines,promotional communications,and pricing are all delineated in the _____.

Correct AnswerverifiedShow Answer

In the context of marketing planning,implementation involves:

Correct AnswerverifiedShow Answer

In the context of marketing planning,which of the following statements is true of implementation?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In the context of implementation,which of the following statements is true of a task force?

Correct AnswerverifiedShow Answer

RegiSure is a strategic business unit that shows low growth but has a dominant market share.Since it has a dominant market share,it should be additionally financed despite its low growth.

Correct AnswerverifiedShow Answer

Individuals in the age group of 11 to 16 years who extensively use the internet is an example of a market segment.

Correct AnswerverifiedShow Answer

When properly created,a strategic business unit (SBU)

Correct AnswerverifiedShow Answer

Discuss the process of market opportunity analysis.

Correct AnswerverifiedAnswers will vary.The target market stra...View AnswerShow Answer

_____ is the strategy of preserving market share so that an organization can take advantage of the very positive cash flow.

Correct AnswerverifiedShow Answer

According to the Boston Consulting Group's (BCG's)portfolio matrix,a dog shows rapid growth but poor profit margins.

Correct AnswerverifiedShow Answer

According to Ansoff's strategic opportunity matrix,both product development and diversification entail creating new products.

Correct AnswerverifiedShow Answer

Which of the following activities is carried out during implementation of a marketing plan?

Correct AnswerverifiedShow Answer

Marketing managers rely on customer databases for effective implementation of the market penetration strategy.

Correct AnswerverifiedShow Answer

Which of the following practices can help businesses gain a cost competitive advantage?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

According to Ansoff's strategic opportunity matrix,a firm that adopts a diversification strategy:

Correct AnswerverifiedShow Answer

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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Answers will vary.The target market stra...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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