Question 1

_____ is a long-term process that helps an organization allocate its resources to capitalize on opportunities in the marketplace.

Accepted Answer

A)   Marketing
B)   Contingent planning
C)   Strategic planning
D)   Diversification
E)   Decentralization

Question 2

The group of customers toward which an organization directs its marketing efforts is known as the _____.

Accepted Answer

A)   constituency
B)   target market
C)   direct market
D)   value group
E)   key market

Question 3

The _____ is a portfolio-planning approach that examines a business's strengths and the attractiveness of industries.

Accepted Answer

General El...

Question 4

Sarah owns a store in a town where the population has changed from low-income singles to high-income families.Based on which of the following types of environmental changes does Sarah need to make changes?

Accepted Answer

A)   Economic
B)   Technology
C)   Social and cultural
D)   Natural resources
E)   Legal and political

Question 5

The GE approach evaluates the strengths and the attractiveness of industries as high,medium,and low.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following refers to a cash cow?

Accepted Answer

A)   A product with high growth and a high market share.
B)   A product with a long-term future.
C)   A product with low growth and a low market share.
D)   A product with low growth and a high market share.
E)   A product with high growth and a low market share.

Question 7

Business or product lines within an organization that have their own competitors,customers,and profit centers are known as _____.

Accepted Answer

strategic ...

Question 8

A well-developed value proposition:

Accepted Answer

A)   focuses on the external market, or what customers want.
B)   conveys the firm's profits.
C)   focuses on the supply chain's benefits.
D)   increases product development.
E)   differentiates from buyers in the market.

Question 9

Hispanic consumers are the target market for many products because this is a:

Accepted Answer

A)   growing group of consumers with about a million dollars in buying power.
B)   group of consumers requiring new value propositions.
C)   group of consumers who are interested in products in the growth stage of the product life cycle.
D)   growing group of consumers with over a trillion dollars in buying power.
E)   group of consumers interested in the firm's marketing strategies.

Question 10

Exporting and direct investment are examples of international market-penetration strategies.

Accepted Answer

A) True 
 B)False

Question 11

A divested product is one that the firm drops or sells.

Accepted Answer

A) True 
 B)False

Question 12

A value proposition states the:

Accepted Answer

A)   firm's strategy for entering new markets with new product or service offerings.
B)   firm's marketing objectives.
C)   firm's pricing strategy.
D)   buyer's purchase incentives.
E)   specific benefits a product or service offering provides to a buyer.

Question 13

_____ is a process that can occur at different levels (corporate,business,and functional)in an organization

Accepted Answer

The answer of _____ is a process that can occur...

Question 14

Maggie has implemented a market-development strategy by selling her jewelry not only in Nashville,but also in Chicago.

Accepted Answer

A) True 
 B)False

Question 15

A cookie company has decided to add a brownie product line to their inventory.Which of the following strategies is being employed by this company?

Accepted Answer

A)   Market-penetration
B)   Product-development
C)   Market-development
D)   Diversification
E)   Downsizing

Question 16

The _____ is a portfolio-planning approach that examines strategic business units based on their relative market shares and growth rates.

Accepted Answer

Boston Con...

Question 17

Explain why companies have different value propositions for each target market.

Accepted Answer

Firms with multiple target markets under...

Question 18

A value proposition is utilized not only by firms,but also by individuals.

Accepted Answer

A) True 
 B)False

Question 19

The purpose of a value proposition is to provide the:

Accepted Answer

A)   firm with a reason why buyers prefer their product or service offering.
B)   buyer with a reason why the product or service is superior to competing offers.
C)   buyer with a price point for purchase.
D)   firm with a moral code of ethics.
E)   seller with a price point for purchase.

Question 20

Conditions external to the firm include looking at a firm's resources,capabilities,and technology.

Accepted Answer

A) True 
 B)False

Exam 2: Strategic Planning

_____ is a long-term process that helps an organization allocate its resources to capitalize on opportunities in the marketplace.

Correct AnswerverifiedShow Answer

The purpose of a value proposition is to provide the:

Correct AnswerverifiedShow Answer

_____ is a process that can occur at different levels (corporate,business,and functional)in an organization

Correct AnswerverifiedShow Answer

Business or product lines within an organization that have their own competitors,customers,and profit centers are known as _____.

Correct Answerverifiedstrategic ...View AnswerShow Answer

Exporting and direct investment are examples of international market-penetration strategies.

Correct AnswerverifiedShow Answer

Conditions external to the firm include looking at a firm's resources,capabilities,and technology.

Correct AnswerverifiedShow Answer

Sarah owns a store in a town where the population has changed from low-income singles to high-income families.Based on which of the following types of environmental changes does Sarah need to make changes?

Correct AnswerverifiedShow Answer

The GE approach evaluates the strengths and the attractiveness of industries as high,medium,and low.

Correct AnswerverifiedShow Answer

The _____ is a portfolio-planning approach that examines a business's strengths and the attractiveness of industries.

Correct AnswerverifiedGeneral El...View AnswerShow Answer

Hispanic consumers are the target market for many products because this is a:

Correct AnswerverifiedShow Answer

Explain why companies have different value propositions for each target market.

Correct AnswerverifiedFirms with multiple target markets under...View AnswerShow Answer

The group of customers toward which an organization directs its marketing efforts is known as the _____.

Correct AnswerverifiedShow Answer

A divested product is one that the firm drops or sells.

Correct AnswerverifiedShow Answer

A value proposition is utilized not only by firms,but also by individuals.

Correct AnswerverifiedShow Answer

Maggie has implemented a market-development strategy by selling her jewelry not only in Nashville,but also in Chicago.

Correct AnswerverifiedShow Answer

A well-developed value proposition:

Correct AnswerverifiedShow Answer

The _____ is a portfolio-planning approach that examines strategic business units based on their relative market shares and growth rates.

Correct AnswerverifiedBoston Con...View AnswerShow Answer

A cookie company has decided to add a brownie product line to their inventory.Which of the following strategies is being employed by this company?

Correct AnswerverifiedShow Answer

A value proposition states the:

Correct AnswerverifiedShow Answer

Which of the following refers to a cash cow?

Correct AnswerverifiedShow Answer

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strategic ...
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General El...
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Firms with multiple target markets under...
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Boston Con...
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