FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 2: Developing Marketing Strategies and a Marketing Plan

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 51

True/False

Review LaterAdd Note

Review Later

A product line consists of a group of dissimilar products.

A) True
B) False

Correct Answer

verified

Show Answer

Question 52

True/False

Review LaterAdd Note

Review Later

Lack of financial resources is an example of a threat that a company is facing.

A) True
B) False

Correct Answer

verified

Show Answer

Question 53

Multiple Choice

Review LaterAdd Note

Lego Inc., a manufacturer of computers, has developed a brand image by delivering high-quality products at affordable prices.This image results in customers choosing Lego's products over competing products.In this case, which of the following refers to Lego's strategy of creating a distinct and desirable understanding in the minds of consumers of what its product represents?

Explain how Costco has used the four overarching strategies build a sustainable competitive advantage.

Balter Technologies Inc.is a firm that manufactures innovative computer accessories.The company organizes a media campaign to increase the public awareness about its products.Which of the following elements of a marketing mix is used by Balter Technologies in this case to communicate the value of its offerings?

Uncle Steve Inc., a chain of restaurants, opens a new outlet near an industrial complex.This helps it to attract many customers as there is no other restaurant in the vicinity.In this case, the decision to open a new outlet in this area is a part of the firm's strategy on:

Actual strategic planning is a sequential process.

A company has access to many proprietary technologies.This is an example of the company's strength.

Lincoln introduced the new Lincoln Navigator, a large luxury SUV, to appeal to higher income families who do not desire to buy a minivan.The Navigator is a luxury 8-seater car, which has more power, and offer many more luxury features than traditional minivans.This is an example of .........

Lunar Inc. and Qwerty Inc. are competitors in the production of laptops for professionals. To improve sales, the management of Lunar decides to adopt the strategy of market penetration and the management of Qwerty decides to adopt market development. -Which of the following is Qwerty most likely to do as part of its strategy?

Which of the following is true of situation analysis?

The top managers of a firm prepare a marketing plan.They define the mission and objectives of the business and evaluate the present situation of the firm.Which of the following phases of the marketing plan includes these activities performed by the top managers?

Which of the following terms refers to a group of consumers who respond similarly to a firm's marketing efforts?

The growth rate of the soft-drink industry in the country of Norborg has been low for a few years now.Which of the following terms, according to the Boston Consulting Group (BCG) portfolio analysis, can be used to refer to Cranco Inc., the brand that has the highest market share in this industry?

Capricus Leathers Inc. is a company that manufactures leather apparel and accessories. The company sells two products, Indigo and Tango. Both the products serve in a low-growth market. While Indigo has significant market share in the market, Tango has less than 1 percent market share. -Which of the following terms is used in the Boston Consulting Group (BCG) product portfolio analysis to refer to a product that has a high market share in a high-growth market?

What is the next step that a business organization has to perform after completing situation analysis?

Which of the following terms is used in the Boston Consulting Group (BCG) product portfolio analysis to refer to a product that has low market share in a market characterized by high growth?

An organization appoints a marketing manager to study the effectiveness of the marketing plan that it has implemented.The manager analyzes organizational performance using various metrics and gives a final report.In the context of developing a marketing plan, the organization is in the phase of:

TravelSmart Inc.offers a range of travel packages to tourist destinations across the world.The customers are charged according to the services provided during the tour.This allows the customers to choose a package proportionate to their income and requirements.Given this information, which of the following elements of a marketing mix is stressed upon by the company?

Explain portfolio analysis.