Question 1

Which of the following processes provides the mechanisms for evaluating marketing results in light of the plan's objectives and for correcting actions that do not help the organization reach those objectives within budget guidelines?

Accepted Answer

A)   Implementation
B)   Evaluation
C)   Control
D)   Marketing auditE) C) and D)
F) A) and B)

Question 2

One component of product in a marketing mix is ________.

Accepted Answer

A)   sales promotion
B)   the company image
C)   the point of purchase
D)   personal sellingE) All of the above
F) A) and B)

Question 3

Revel Inc.,a cell phone manufacturer,decides to launch its new line of smartphones on the company's official website to resolve logistics issues that the company has identified.With this modification,its customers can now buy the smartphones even if they are not available in retail locations near potential consumers.In this case,Revel Inc.focuses on the _____ element of the marketing mix.

Accepted Answer

A)   evaluation
B)   promotion
C)   price
D)   distributionE) None of the above
F) A) and B)

Question 4

Which of the following activities is carried out during the implementation of a marketing plan?

Accepted Answer

A)   Defining the business mission
B)   Performing marketing audit
C)   Setting up strategic business units
D)   Creating and managing a task forceE) A) and C)
F) B) and C)

Question 5

Which of these statements is correct with regard to the implementation of marketing objectives?

Accepted Answer

A)   Implementation gauges the extent to which marketing objectives have been achieved during the specified time period.
B)   Brilliant marketing plans succeed even without proper implementation.
C)   A lot of ongoing communication is involved when executing a plan.
D)   Managers hold the power to decide and implement decisions rather than delegating it.E) B) and D)
F) B) and C)

Question 6

Which of the following states the function of a distribution strategy in a marketing mix?

Accepted Answer

A)   Distribution strategy is about transporting raw materials or finished products.
B)   Distribution strategy is about educating customers about product benefits.
C)   Distribution strategy is about providing after-purchase services to customers.
D)   Distribution strategy is about public relations activities.E) A) and D)
F) None of the above

Question 7

Which of the following does a business exhibit when it describes itself in terms of goods and services rather than in terms of the benefits customers seek?

Accepted Answer

A)   Marketing myopia
B)   Marketing inertia
C)   Marketing dissonance
D)   Marketing blockageE) B) and C)
F) A) and D)

Question 8

Synergy Corp.,a large seller of energy-efficient light bulbs,uses extensive promotional strategies to stimulate sales.Marketers at Synergy Corp.have noticed that a competitor is steadily gaining market share,and they want to counter the competition immediately by increasing the sales of Synergy Corp.'s bulbs.Given the situation,which of the following is the quickest step that Synergy's marketers can take to stimulate the sales of its products?

Accepted Answer

A)   Changing the pricing strategy
B)   Creating complex production techniques
C)   Entering into new supplier contracts
D)   Adopting a divesting strategyE) None of the above
F) B) and C)

Question 9

Using the innovation matrix,the strategic decision to implement changes that use existing assets to provide added convenience to existing customers and potentially entice customers from other brands is considered:

Accepted Answer

A)   a core innovation.
B)   an adjacent innovation.
C)   a transformational innovation.
D)   a diversification strategy.E) C) and D)
F) A) and B)

Question 10

A business' mission does not affect its long-run resource allocation,profitability,or survival.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following practices can help businesses gain a cost competitive advantage?

Accepted Answer

A)   Using simplified production techniques
B)   Using expensive raw materials
C)   Customizing products with extra features
D)   Focusing on serving marginal customersE) A) and D)
F) All of the above

Question 12

A competitive advantage is a set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition.

Accepted Answer

A) True 
 B)False

Question 13

Nessca Inc.is a pharmaceutical company that designs its products to suit the needs of a group of people with similar characteristics.In this case,Nessca should target which of the following market segments?

Accepted Answer

A)   A group of individuals who are diabetic
B)   A group of individuals who work in the same organization
C)   A group of individuals who are working professionals
D)   A group of individuals who reside in the same residential areaE) B) and C)
F) None of the above

Question 14

Product/service differentiation competitive advantage means that an organization provides something that is unique and valuable to buyers beyond simply offering a lower price than that of the competition.

Accepted Answer

A) True 
 B)False

Question 15

The process that turns a marketing plan into action assignments and ensures that these assignments are executed in a way that accomplishes the plan's objectives is called evaluation.

Accepted Answer

A) True 
 B)False

Exam 2: Strategic Planning and Competitive Advantage

Which of the following processes provides the mechanisms for evaluating marketing results in light of the plan's objectives and for correcting actions that do not help the organization reach those objectives within budget guidelines?

Correct Answer
verified

Product/service differentiation competitive advantage means that an organization provides something that is unique and valuable to buyers beyond simply offering a lower price than that of the competition.

Correct Answer
verified

Using the innovation matrix,the strategic decision to implement changes that use existing assets to provide added convenience to existing customers and potentially entice customers from other brands is considered:

Correct Answer
verified

Which of these statements is correct with regard to the implementation of marketing objectives?

Correct Answer
verified

Correct Answer
verified

A competitive advantage is a set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition.

Correct Answer
verified

One component of product in a marketing mix is ________.

Correct Answer
verified

Correct Answer
verified

Which of the following practices can help businesses gain a cost competitive advantage?

Correct Answer
verified

A business' mission does not affect its long-run resource allocation,profitability,or survival.

Correct Answer
verified

Which of the following activities is carried out during the implementation of a marketing plan?

Correct Answer
verified

Which of the following does a business exhibit when it describes itself in terms of goods and services rather than in terms of the benefits customers seek?

Correct Answer
verified

Which of the following states the function of a distribution strategy in a marketing mix?

Correct Answer
verified

Nessca Inc.is a pharmaceutical company that designs its products to suit the needs of a group of people with similar characteristics.In this case,Nessca should target which of the following market segments?

Correct Answer
verified

The process that turns a marketing plan into action assignments and ensures that these assignments are executed in a way that accomplishes the plan's objectives is called evaluation.

Correct Answer
verified

Exam 2: Strategic Planning and Competitive Advantage

Which of the following processes provides the mechanisms for evaluating marketing results in light of the plan's objectives and for correcting actions that do not help the organization reach those objectives within budget guidelines?

Correct AnswerverifiedShow Answer

Product/service differentiation competitive advantage means that an organization provides something that is unique and valuable to buyers beyond simply offering a lower price than that of the competition.

Correct AnswerverifiedShow Answer

Using the innovation matrix,the strategic decision to implement changes that use existing assets to provide added convenience to existing customers and potentially entice customers from other brands is considered:

Correct AnswerverifiedShow Answer

Which of these statements is correct with regard to the implementation of marketing objectives?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A competitive advantage is a set of unique features of a company and its products that are perceived by the target market as significant and superior to those of the competition.

Correct AnswerverifiedShow Answer

One component of product in a marketing mix is ________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following practices can help businesses gain a cost competitive advantage?

Correct AnswerverifiedShow Answer

A business' mission does not affect its long-run resource allocation,profitability,or survival.

Correct AnswerverifiedShow Answer

Which of the following activities is carried out during the implementation of a marketing plan?

Correct AnswerverifiedShow Answer

Which of the following does a business exhibit when it describes itself in terms of goods and services rather than in terms of the benefits customers seek?

Correct AnswerverifiedShow Answer

Which of the following states the function of a distribution strategy in a marketing mix?

Correct AnswerverifiedShow Answer

Nessca Inc.is a pharmaceutical company that designs its products to suit the needs of a group of people with similar characteristics.In this case,Nessca should target which of the following market segments?

Correct AnswerverifiedShow Answer

The process that turns a marketing plan into action assignments and ensures that these assignments are executed in a way that accomplishes the plan's objectives is called evaluation.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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