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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
cdimock
Quiz by cdimock, updated more than 1 year ago
cdimock
Created by cdimock about 9 years ago
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Resource summary

Question 1

Question
An organization’s direction within its chosen environment and its allocation of resources is usually determined by
Answer
  • strategic planning.
  • strategic business units.
  • marketing tactics.
  • marketing myopia.

Question 2

Question
Separate marketing plans for each product line are most often used by
Answer
  • local governments.
  • consumer-goods manufacturers.
  • service firms.
  • industrial-goods manufacturers.

Question 3

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

Question 4

Question
Organizational mission refers to
Answer
  • 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.

Question 5

Question
In the strategic planning process, the next step after a firm defines its organizational mission is to
Answer
  • outline a budget.
  • establish strategic business units.
  • set marketing objectives.
  • perform situation analysis.

Question 6

Question
An example of a qualitative term that can be used to describe objectives is
Answer
  • market share in the industry.
  • profit as a percentage of sales.
  • sales growth.
  • level of innovativeness.

Question 7

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

Question 8

Question
As part of a market development strategy, a firm could
Answer
  • 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.

Question 9

Question
A strategic business unit with a high market share in a mature industry is a
Answer
  • question mark.
  • cash cow.
  • star.
  • dog.

Question 10

Question
The General Electric business screen looks at two major dimensions: company business strengths and
Answer
  • market share.
  • profitability.
  • industry attractiveness.
  • target market features.

Question 11

Question
Strategic business units shown in the selectivity/earnings areas of the General Electric business screen are
Answer
  • performing poorly in unattractive industries.
  • performing poorly in highly competitive industries.
  • performing well in unattractive industries.
  • performing well in strong industries.

Question 12

Question
According to the Porter generic strategy model, with a differentiation focus strategy, a strategic business unit
Answer
  • 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.

Question 13

Question
A major weakness of the strategic planning approaches discussed in this chapter is that they
Answer
  • 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.

Question 14

Question
The level of investment in specific marketing activities and the timing of marketing actions are decisions relating to
Answer
  • implementing tactics.
  • establishing SBUs.
  • developing marketing strategy.
  • monitoring results.

Question 15

Question
Monitoring results involves
Answer
  • 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.
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