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Marketing in the 21st Century Chapter 3 Practice Quiz

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Marketing in the 21st Century - Chapter 3 Practice Quiz

Question 1 of 15

1

An organization’s direction within its chosen environment and its allocation of resources is usually determined by

Select one of the following:

  • strategic planning.

  • strategic business units.

  • marketing tactics.

  • marketing myopia.

Explanation

Question 2 of 15

1

Separate marketing plans for each product line are most often used by

Select one of the following:

  • local governments.

  • consumer-goods manufacturers.

  • service firms.

  • industrial-goods manufacturers.

Explanation

Question 3 of 15

1

Which of these is a way to drop tension among functional departments?

Select one of the following:

  • Minimizing interfunctional contact

  • Seeking employees who do not blend technical and marketing expertise

  • Establishing independent task forces and committees

  • Setting objectives for each department interdependent with other departments’
    goals

Explanation

Question 4 of 15

1

Organizational mission refers to

Select one of the following:

  • a philosophy by which an organization individually assesses and positions every
    SBU.

  • a long-term commitment to a type of business and a place in the market.

  • specific actions undertaken to implement a given marketing strategy.

  • an approach in which a firm seeks greater sales of present products or new product
    uses.

Explanation

Question 5 of 15

1

In the strategic planning process, the next step after a firm defines its organizational mission is to

Select one of the following:

  • outline a budget.

  • establish strategic business units.

  • set marketing objectives.

  • perform situation analysis.

Explanation

Question 6 of 15

1

An example of a qualitative term that can be used to describe objectives is

Select one of the following:

  • market share in the industry.

  • profit as a percentage of sales.

  • sales growth.

  • level of innovativeness.

Explanation

Question 7 of 15

1

Which of the following questions does situation analysis seek to answer?

Select one of the following:

  • In what direction is a firm headed?

  • How will resources be allocated?

  • Who is responsible for carrying out marketing actions?

  • What sales personnel should be hired?

Explanation

Question 8 of 15

1

As part of a market development strategy, a firm could

Select one of the following:

  • develop new models of existing products to appeal to present markets.

  • reposition existing products.

  • become involved with new products aimed at new markets.

  • seek to attract non-users of its existing products.

Explanation

Question 9 of 15

1

A strategic business unit with a high market share in a mature industry is a

Select one of the following:

  • question mark.

  • cash cow.

  • star.

  • dog.

Explanation

Question 10 of 15

1

The General Electric business screen looks at two major dimensions: company business strengths and

Select one of the following:

  • market share.

  • profitability.

  • industry attractiveness.

  • target market features.

Explanation

Question 11 of 15

1

Strategic business units shown in the selectivity/earnings areas of the General Electric business screen are

Select one of the following:

  • performing poorly in unattractive industries.

  • performing poorly in highly competitive industries.

  • performing well in unattractive industries.

  • performing well in strong industries.

Explanation

Question 12 of 15

1

According to the Porter generic strategy model, with a differentiation focus strategy, a strategic business unit

Select one of the following:

  • aims at a narrow target segment through low prices or a unique offering.

  • aims at a broad market and offers products at low prices and in large quantities.

  • aims at a narrow market by offering goods or services viewed as
    distinctive.

  • aims a new product at a new market.

Explanation

Question 13 of 15

1

A major weakness of the strategic planning approaches discussed in this chapter is that they

Select one of the following:

  • are sometimes difficult to implement.

  • do not allow a firm to follow competitors’ actions.

  • prevent a firm from analyzing all its business units and products.

  • do not focus on creating and keeping key differential advantages.

Explanation

Question 14 of 15

1

The level of investment in specific marketing activities and the timing of marketing actions are decisions relating to

Select one of the following:

  • implementing tactics.

  • establishing SBUs.

  • developing marketing strategy.

  • monitoring results.

Explanation

Question 15 of 15

1

Monitoring results involves

Select one of the following:

  • setting corporate and marketing objectives.

  • creating new strategic business units.

  • comparing actual performance to planned performance for a specified time
    period.

  • identifying internal strengths and weaknesses, as well as external opportunities and
    threats.

Explanation

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