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| 1 | |
Supply chain efficiency, a strong brand name and customer satisfaction are likely to be a source of: |
| | A) | a strategic plan. |
| | B) | a sustainable competitive advantage. |
| | C) | a macro-strategy. |
| | D) | a marketing plan. |
| | E) | a SWOT analysis. |
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| 2 | |
There are four overarching or macro-strategies that focus on aspects of the marketing mix to create and deliver value. Which of the following is NOT one of these overarching strategies? |
| | A) | Customer excellence |
| | B) | Locational excellence |
| | C) | Financial control excellence |
| | D) | Product excellence |
| | E) | Operational excellence |
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| 3 | |
If competitors can copy or match the products and services the firm offers, it will be difficult to develop a sustainable competitive advantage through product excellence. A firm can, however, develop an advantage through product excellence with: |
| | A) | products with high perceived value. |
| | B) | effective branding. |
| | C) | effective positioning and reinforcing that image through merchandise, service and promotion. |
| | D) | All of the above |
| | E) | None of the above |
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| 4 | |
A document that analyzes the current marketing situation, opportunities and threats for the firm, marketing objectives in terms of the four Ps, action plans and pro forma financial statements is known as a: |
| | A) | positioning statement. |
| | B) | unique selling proposition. |
| | C) | situational analysis. |
| | D) | annual report. |
| | E) | marketing plan. |
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| 5 | |
Of the five steps to the strategic marketing planning process, which step usually comes first? |
| | A) | Evaluate performance. |
| | B) | Define the business mission. |
| | C) | Situation analysis. |
| | D) | Identifying and evaluating opportunities. |
| | E) | Implement the marketing mix. |
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| 6 | |
A SWOT analysis is part of a firm's situation audit. SWOT is an acronym for: |
| | A) | strategies, work, operations and threats |
| | B) | strengths, weaknesses, organization and timeliness |
| | C) | sustainable competitive advantage, worth, opportunities and thoughts |
| | D) | strengths, weaknesses, opportunities and threats |
| | E) | strategies, willingness, order and timeliness. |
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| 7 | |
After examination of the firm's business mission and objectives, Steve developed a SWOT analysis in some detail. Before he can implement the marketing mix, he must identify market segments that his company could pursue. Steve will evaluate each potential segment's attractiveness based on income, size, and accessibility. He will be involved in: |
| | A) | target marketing. |
| | B) | strategic selection. |
| | C) | diversification. |
| | D) | operational excellence calculations. |
| | E) | market penetration estimation. |
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| 8 | |
When marketers develop the pricing, promotion, place and product strategies, they are in the ___________________ phase of marketing planning. |
| | A) | planning |
| | B) | marketing mix |
| | C) | control |
| | D) | implementation |
| | E) | strategic |
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| 9 | |
The idea of _________________ requires firms to charge a price that captures the value customers perceive they are receiving. |
| | A) | one to one marketing. |
| | B) | personalized pricing |
| | C) | value-based marketing |
| | D) | reverse auctioning. |
| | E) | extreme value segmentation |
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| 10 | |
Kathy has been assigned the task of assembling information to monitor whether the plans that were implemented are achieving what they are supposed to. She will look at both performance and financial measures. She will use a series of ______________, which are measuring systems that quantify a trend, dynamic or characteristic. |
| | A) | economic indicators |
| | B) | metrics |
| | C) | quantification criteria |
| | D) | implementation yardsticks |
| | E) | All of the above. |
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| 11 | |
Brian heard his unit described as a cash cow. At first, he wasn't sure he liked that, but felt better about it when he learned it meant: |
| | A) | this was the business version of a sacred cow, and the rest of the firm has an obligation to honor what he and his colleagues do. |
| | B) | they have excess resources that can be spun off to other business units that need it. |
| | C) | the products have low market share but are in high-growth markets. |
| | D) | the products have are in a low-growth market, but have low market share to reduce risk. |
| | E) | the products are in both high-growth markets and have high market share. |
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| 12 | |
Which of the following is one of the four major growth strategies marketers typically pursue? |
| | A) | market segmentation |
| | B) | market development |
| | C) | customer detention |
| | D) | merger and acquisition |
| | E) | vertical integration |
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| 13 | |
Diversification is one of the four major growth strategies. Which of the following is NOT true about this strategy? |
| | A) | Diversification opportunities may be either related or unrelated. |
| | B) | The firm introduces a new product to a current market segment. |
| | C) | Unrelated diversifications do not capitalize on cores strengths or product and are very risky. |
| | D) | In some situations, depending on how the product and market are defined, diversification could instead be market penetration, market development or product development. |
| | E) | Diversification will be less risky if the firm is able to use existing vendors, the same distribution network, the same management information system, etc. |
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| 14 | |
Trevor has looked at strengths and weaknesses, and opportunities and threats, and he is systematically examining alternatives. He is likely using: |
| | A) | scenario planning |
| | B) | systematic option selection |
| | C) | a post-SWOT analysis |
| | D) | strategic positioning |
| | E) | option trading |
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