Question 1

Marketing objectives should be stated in such a way that the degree of accomplishment can be measured accurately.

Accepted Answer

A) True 
 B)False

Question 2

A strategic window results from the right combination of circumstances and timing, allowing a firm to take action to reach a particular target market.

Accepted Answer

A) True 
 B)False

Question 3

The strategic planning process begins with:

Accepted Answer

A)   development of an organizational mission statement.
B)   development of marketing strategy.
C)   analysis of the marketing environment.
D)   analysis of target markets.
E)   development of a marketing plan.F) A) and B)
G) A) and C)

Question 4

Marketing objectives state what is to be accomplished through marketing activities.

Accepted Answer

A) True 
 B)False

Question 5

Resource deployment and coordination of functional areas of business are determined by:

Accepted Answer

A)   the mission statement.
B)   corporate strategy.
C)   business-unit strategy.
D)   marketing strategy.
E)   the marketing mix.F) C) and E)
G) None of the above

Question 6

A strategic window is:

Accepted Answer

A)   the right combination of circumstances and timing that permit an organization to take action to reach a particular target market.
B)   what determines the factors that are most important in making a market attractive or strong.
C)   customers' requirements or desired benefits.
D)   a temporary period of optimum fit between the key requirements of a market and the particular capabilities of a firm competing in that market.
E)   the process that seeks information about events and relationships in a company's outside environment.F) B) and D)
G) A) and B)

Question 7

A core competency is something a firm does extremely well sometimes so well that it gives the company an advantage over its competition.

Accepted Answer

A) True 
 B)False

Question 8

Internal management refers to the coordination of internal exchanges between the organization and its employees to achieve successful external exchanges between the organization and its customers.

Accepted Answer

A) True 
 B)False

Question 9

A strategic business unit is not self-supporting in terms of sales, markets, production, and other resources.

Accepted Answer

A) True 
 B)False

Question 10

Marketing mix decisions must have two characteristics: consistency and timeliness.

Accepted Answer

A) True 
 B)False

Question 11

Marketing planning and implementation are inextricably linked in successful businesses.

Accepted Answer

A) True 
 B)False

Question 12

An organization's goals focus on the ends or results that the firm seeks.

Accepted Answer

A) True 
 B)False

Question 13

A competitive advantage exists when a:

Accepted Answer

A)   firm matches a core competency to opportunities it has discovered in the marketplace.
B)   firm does marketing better than its competitors.
C)   combination of circumstances and timing allow a firm to reach an attractive target market.
D)   firm observes a fit between the key requirements of a market and its own capabilities.
E)   firm has a strong marketing plan.F) A) and E)
G) B) and D)

Question 14

Discuss the creation of a marketing plan. What are the major components of a marketing plan?

Accepted Answer

The process is based on the establishmen...

Question 15

Business decisions made in creating a marketing mix:

Accepted Answer

A)   are made before a target market is identified.
B)   are unchangeable once they are agreed upon by management.
C)   are only as good as the organization's understanding of the needs of the target market.
D)   usually take place when a strategic window is open.
E)   must always be consistent with the firm's opportunities.F) A) and C)
G) A) and E)

Question 16

A marketing unit can be organized according to functions, products, regions, or customers.

Accepted Answer

A) True 
 B)False

Question 17

A functional organization works effectively for large, decentralized companies.

Accepted Answer

A) True 
 B)False

Question 18

Internal marketing may involve market segmentation, product development, research, distribution, public relations, and sales promotion.

Accepted Answer

A) True 
 B)False

Question 19

An organization's business goals should be derived from its ______

Accepted Answer

A)   mission statement.
B)   strategic plan.
C)   strategic business plan.
D)   marketing plan.
E)   marketing strategy.F) A) and B)
G) A) and E)

Question 20

Discuss the different ways of organizing the strategic business unit.

Accepted Answer

Each strategic business unit (SBU) is a ...

Exam 2: Marketing Strategy and Understanding Competitors

A functional organization works effectively for large, decentralized companies.

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Business decisions made in creating a marketing mix:

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A core competency is something a firm does extremely well sometimes so well that it gives the company an advantage over its competition.

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A competitive advantage exists when a:

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Internal marketing may involve market segmentation, product development, research, distribution, public relations, and sales promotion.

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Marketing planning and implementation are inextricably linked in successful businesses.

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An organization's goals focus on the ends or results that the firm seeks.

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A strategic window is:

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The strategic planning process begins with:

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An organization's business goals should be derived from its ______

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Discuss the creation of a marketing plan. What are the major components of a marketing plan?

Correct AnswerverifiedThe process is based on the establishmen...View AnswerShow Answer

Discuss the different ways of organizing the strategic business unit.

Correct AnswerverifiedEach strategic business unit (SBU) is a ...View AnswerShow Answer

Marketing objectives should be stated in such a way that the degree of accomplishment can be measured accurately.

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A marketing unit can be organized according to functions, products, regions, or customers.

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Resource deployment and coordination of functional areas of business are determined by:

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A strategic business unit is not self-supporting in terms of sales, markets, production, and other resources.

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A strategic window results from the right combination of circumstances and timing, allowing a firm to take action to reach a particular target market.

Correct AnswerverifiedShow Answer

Marketing objectives state what is to be accomplished through marketing activities.

Correct AnswerverifiedShow Answer

Internal management refers to the coordination of internal exchanges between the organization and its employees to achieve successful external exchanges between the organization and its customers.

Correct AnswerverifiedShow Answer

Marketing mix decisions must have two characteristics: consistency and timeliness.

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The process is based on the establishmen...
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Each strategic business unit (SBU) is a ...
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