Question 1

The letters in "S.W.O.T. analysis" are an abbreviation for the first letters of the words "strengths, weaknesses, opportunities and threats."

Accepted Answer

A) True 
 B)False

Question 2

Any series of firms (or individuals) from producer to final user or consumer is a channel of distribution.

Accepted Answer

A) True 
 B)False

Question 3

The managerial process of developing and maintaining a match between the resources of an organization and its market opportunities is called:

Accepted Answer

A)   management by objective.
B)   marketing programming.
C)   marketing strategy planning.
D)   strategic (management)  planning.
E)   market planning.

Question 4

A S.W.O.T. analysis is one way to zero in on a marketing strategy that is well-suited to the firm.

Accepted Answer

A) True 
 B)False

Question 5

The difference between target marketing and mass marketing is that target marketing

Accepted Answer

A)   means focusing on a small market.
B)   focuses on short-run objectives, while mass marketing focuses on long-run objectives.
C)   focuses on specific customers, while mass marketing aims at an entire market.
D)   does not rely on e-commerce but mass marketing does.
E)   aims at increased sales, while mass marketing focuses on increased profits.

Question 6

The most risky and challenging opportunities usually involve:

Accepted Answer

A)   market development.
B)   product development.
C)   diversification.
D)   market penetration.
E)   All of these are similar in terms of risk.

Question 7

The customer should not be considered part of a "marketing mix."

Accepted Answer

A) True 
 B)False

Question 8

"Place" is concerned with:

Accepted Answer

A)   getting the product to its intended market.
B)   intermediaries located between producers and consumers.
C)   where, when, and by whom goods are offered for sale.
D)   when and where products are wanted.
E)   all of these might be involved with Place.

Question 9

When 3M sent samples of Breathe Right Nasal Strips to the NFL trainers, this was an example of a ___________________ strategy.

Accepted Answer

A)   price
B)   promotion
C)   personnel
D)   product
E)   place

Question 10

When a firm tries to increase sales by offering new or improved products to its present markets, this is called:

Accepted Answer

A)   mass marketing.
B)   product development.
C)   market penetration.
D)   diversification.
E)   market development.

Question 11

The ______ area of the marketing mix is concerned with decisions about getting the "right" product to the target market when and where it's wanted.

Accepted Answer

A)   product
B)   people
C)   promotion
D)   price
E)   place

Question 12

Happy Feet shoe company's strategic policy states "Carry as limited a line of colors, styles, and sizes as will satisfy the target market." This policy best relates to which decision area of the marketing mix?

Accepted Answer

A)   People
B)   Place
C)   Promotion
D)   Price
E)   Product

Question 13

Which of the following is an example of an operational decision?

Accepted Answer

A)   Focus promotion on the economy of the product.
B)   Make the product available in every possible retail outlet.
C)   Have a salesperson visit the manager of a new hardware store that will open next week.
D)   Set a price that is no higher than competitors' prices.
E)   None of these is an example of an operational decision.

Question 14

A "marketing program":

Accepted Answer

A)   blends all of a firm's marketing plans into one big plan.
B)   is a description of a firm's marketing mix.
C)   is a detailed plan of how to implement a strategy.
D)   is a marketing strategy plus the time-related details.
E)   None of these apply to a marketing program.

Question 15

Which of the following statements is True regarding international opportunities in marketing?

Accepted Answer

A)   There is no need to consider international opportunities when the domestic market is prosperous.
B)   International trade is decreasing worldwide.
C)   A product with slow sales growth in a domestic market may experience faster growth in another country.
D)   Only large firms can engage in international marketing.
E)   All of these statements about international opportunities in marketing are True.

Question 16

The problem with target marketing is that it limits the firm to small market segments.

Accepted Answer

A) True 
 B)False

Question 17

A marketing strategy and all the time-related details for carrying out the strategy is a "marketing plan."

Accepted Answer

A) True 
 B)False

Question 18

____ refers to offering new or improved products for present markets.

Accepted Answer

A)   Diversification
B)   Market development
C)   Differentiation
D)   Market penetration
E)   Product development

Question 19

The text's Toddler University example shows that TU's marketing plan included:

Accepted Answer

A)   A detailed description of the marketing mix to be offered.
B)   A description of the resources required to carry out the plan.
C)   Expected results of the plan.
D)   Control procedures.
E)   All of these.

Question 20

Converse started selling its "high-top" canvas basketball shoes in colors such as hot pink, lime green, and purple, to accompany their traditional colors of black and white. Converse seems to be pursuing a _____________ opportunity.

Accepted Answer

A)   market penetration
B)   market development
C)   product development
D)   diversification
E)   breakthrough

Exam 2: Marketing Strategy Planning

"Place" is concerned with:

Correct AnswerverifiedShow Answer

A S.W.O.T. analysis is one way to zero in on a marketing strategy that is well-suited to the firm.

Correct AnswerverifiedShow Answer

The text's Toddler University example shows that TU's marketing plan included:

Correct AnswerverifiedShow Answer

Which of the following statements is True regarding international opportunities in marketing?

Correct AnswerverifiedShow Answer

The ______ area of the marketing mix is concerned with decisions about getting the "right" product to the target market when and where it's wanted.

Correct AnswerverifiedShow Answer

When a firm tries to increase sales by offering new or improved products to its present markets, this is called:

Correct AnswerverifiedShow Answer

When 3M sent samples of Breathe Right Nasal Strips to the NFL trainers, this was an example of a ___________________ strategy.

Correct AnswerverifiedShow Answer

The letters in "S.W.O.T. analysis" are an abbreviation for the first letters of the words "strengths, weaknesses, opportunities and threats."

Correct AnswerverifiedShow Answer

A "marketing program":

Correct AnswerverifiedShow Answer

Happy Feet shoe company's strategic policy states "Carry as limited a line of colors, styles, and sizes as will satisfy the target market." This policy best relates to which decision area of the marketing mix?

Correct AnswerverifiedShow Answer

The managerial process of developing and maintaining a match between the resources of an organization and its market opportunities is called:

Correct AnswerverifiedShow Answer

____ refers to offering new or improved products for present markets.

Correct AnswerverifiedShow Answer

Which of the following is an example of an operational decision?

Correct AnswerverifiedShow Answer

The problem with target marketing is that it limits the firm to small market segments.

Correct AnswerverifiedShow Answer

The difference between target marketing and mass marketing is that target marketing

Correct AnswerverifiedShow Answer

Any series of firms (or individuals) from producer to final user or consumer is a channel of distribution.

Correct AnswerverifiedShow Answer

The customer should not be considered part of a "marketing mix."

Correct AnswerverifiedShow Answer

A marketing strategy and all the time-related details for carrying out the strategy is a "marketing plan."

Correct AnswerverifiedShow Answer

Converse started selling its "high-top" canvas basketball shoes in colors such as hot pink, lime green, and purple, to accompany their traditional colors of black and white. Converse seems to be pursuing a _____________ opportunity.

Correct AnswerverifiedShow Answer

The most risky and challenging opportunities usually involve:

Correct AnswerverifiedShow Answer

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