Question 1

The initial step in the planning phase of the strategic marketing process involves
A) establishing the budget.
B) developing the marketing program.
C) diversification analysis.
D) auditing the marketing plan.
E) conducting a situation (SWOT) analysis.

Accepted Answer

Conducting a situation (SWOT) analysis is the initial step in the planning phase of the strategic marketing process, as it helps identify the internal strengths and weaknesses, as well as external opportunities and threats.

Question 2

In the 1980s, a lapse in production quality and an increase in Japanese imports drove the Harley-Davidson motorcycle company to the brink of bankruptcy. The company's super heavyweight market share had shrunk from over 40 percent in the mid-1970s to 23 percent in 1983. But by 1989, Harley-Davidson controlled some 65 percent of this market segment. From a marketing perspective, what was the most likely first step in Harley-Davidson's resurgence?
A) Developing a new mission statement
B) Repositioning its products in the minds of super heavyweight motorcycle buyers
C) Performing a SWOT analysis to assess the firm's internal and external environments
D) Selling new models of super heavyweight motorcycles in both the United States (current) and foreign (new) markets
E) Improving the quality of its products and communicating this to motorcycle buyers

Accepted Answer

The answer of In the 1980s, a lapse in production...

Question 3

Figure 2-7
-Consider Figure 2-7 above. A Florida-based flashlight company has been extremely successful due in part to the number of hurricanes in Florida that result in power outages. The firm is thinking of expanding its product offerings to include other emergency supplies such as generators and survival kits that include food bars, a water filtration system, and first aid supplies. The firm has a great reputation with its flashlights and does not want to ruin it. The company's reputation would fall in which quadrant(s) of the SWOT analysis grid?
A) A
B) B
C) C
D) D
E) A and C

Accepted Answer

The company's reputation is a strength, which falls in the "Strengths" quadrant of the SWOT analysis grid.

Question 4

Hellmann's is a brand owned by Unilever that produces mayonnaise, among other food products. If a marketing manager at Hellman's identified that its brand managers lacked the expertise to create additional growth for the firm's products, she would likely incorporate this knowledge into its SWOT analysis as
A) a weakness if the company does not have access to other expertise at Unilever.
B) a strength if the company conceals this information from its competitors.
C) an opportunity if Hellman's competitors have superior expertise.
D) a threat if Hellman's does not have resources to develop additional expertise.
E) part of a marketing plan; this information would not be part of a SWOT analysis.

Accepted Answer

A lack of expertise among brand managers would be considered a weakness in a SWOT analysis if the company does not have access to other expertise at Unilever, as it could hinder the company's ability to grow its products effectively.

Question 5

Figure 2-7
-Consider Figure 2-7 above. A Florida-based flashlight company has been extremely successful due in part to the number of hurricanes in Florida that result in a loss of power. The firm is thinking of expanding its product offerings to include other emergency supplies such as generators and survival kits. The company would have to rely on another firm to manufacture and package the survival kits. This production issue would fall in which quadrant(s) of the SWOT analysis grid?
A) A
B) B
C) C
D) D
E) both C and D

Accepted Answer

The answer of  Figure 2-7
-Consider Figure 2-7 above. A...

Question 6

A situation analysis refers to
A) taking stock of where the firm or product has been recently, where it is now, and where it is headed in terms of the organization's marketing plans and the external forces and trends affecting it.
B) an appraisal of an organization's cash flow and financial ratios to access its health and the potential for new investment.
C) the process of continually acquiring information on events occurring outside the organization to identify and interpret potential trends.
D) a technique that managers use to quantify performance measures and growth targets to analyze its clients' strategic business units as though they were separate investments.
E) the process where a firm searches for growth opportunities from among current and new markets as well as current and new products.

Accepted Answer

A situation analysis involves evaluating the current and past status of a firm or product, as well as predicting future directions, in relation to marketing plans and external influences.

Question 7

Figure 2-7
-Quadrant A in Figure 2-7 above represents a(n) ________ in a SWOT analysis.
A) a threat
B) a weakness
C) a strength
D) an opportunity
E) a market segment

Accepted Answer

In a SWOT analysis, Quadrant A typically represents a strength, which is an internal factor that gives the organization an advantage over others.

Question 8

What are the three steps involved in the planning phase of the strategic marketing process?
A) Step 1: situation (SWOT) analysis; Step 2: market-product focus, customer value proposition, and goals; and Step 3: the marketing program
B) Step 1: analysis; Step 2: planning; and Step 3: implementation
C) Step 1: set market and product goals; Step 2: select target markets and find points of difference; and Step 3: position the product
D) Step 1: identify industry trends; Step 2: analyze competitors; and Step 3: assess own organization
E) Step 1: Why do we exist?; Step 2: What will we do?; and Step 3: How will we do it?

Accepted Answer

The planning phase of the strategic marketing process involves: Step 1: situation (SWOT) analysis; Step 2: market-product focus, customer value proposition, and goals; and Step 3: the marketing program.

Question 9

Figure 2-7
-Consider Figure 2-7 above. A Florida-based flashlight company has been extremely successful due in part to the number of hurricanes in Florida that result in power outages. The firm is thinking of expanding its product offerings to include other emergency supplies such as generators and survival kits. The firm's physical plant could be refitted relatively easily to make small generators, but it would be rather costly. The company's need to refit its factory would fall in which quadrant(s) of the SWOT analysis grid?
A) A
B) B
C) C
D) D
E) both B and D

Accepted Answer

The answer of  Figure 2-7
-Consider Figure 2-7 above. A...

Question 10

Procter & Gamble (P&G) is a consumer packaged goods company where innovation is a key competitive advantage. This allows the firm to develop products like Tide Pods and Cascade Platinum that consumers love. P&G also uses its marketing expertise to develop unique product placements on television shows that highlight its brands. A SWOT analysis for P&G would indicate that innovation in product design and marketing is a(n) ________ for the firm.
A) a strength
B) a weakness
C) a threat
D) an opportunity
E) a problem

Accepted Answer

Innovation in product design and marketing is a strength for P&G as it provides a competitive advantage and helps in developing popular products and effective marketing strategies.

Question 11

A situation analysis requires a firm to consider the external forces and trends that affect it, either favorable or unfavorable. Which scenario is an example of an external force?
A) The firm buys its own fleet of trucks, so it no longer needs to hire a trucking company for distribution.
B) A hiring freeze is put into place. Although no one is fired, no one can be hired.
C) A goal is set to decrease production costs with new equipment.
D) A city government bans plastic straws inside all restaurants and bars in the city limits.
E) Shareholders are rewarded with a sizable dividend check.

Accepted Answer

A city government banning plastic straws is an external force as it is a regulatory change that affects the firm from outside its control.

Question 12

Step 3 in the planning phase of the strategic marketing process consists of
A) diversification analysis.
B) the situation (SWOT) analysis.
C) the marketing program.
D) the market-product focus and customer value proposition.
E) business portfolio analysis.

Accepted Answer

Step 3 in the planning phase of the strategic marketing process is the development of the marketing program, which involves creating the marketing mix and budget to implement the strategy.

Question 13

The goal of a SWOT analysis is to
A) identify market research questions in order to develop new products for new market segments.
B) determine how raises, bonuses, and dividends will be paid.
C) reorganize the firm's marketing department.
D) identify the critical strategy-related factors that can impact the firm.
E) fairly allocate governmental resources and financial aid across the industry.

Accepted Answer

A SWOT analysis is used to identify the Strengths, Weaknesses, Opportunities, and Threats related to a business, which are critical strategy-related factors that can impact the firm.

Question 14

The acronym SWOT, as in SWOT analysis, stands for
A) strengths, weaknesses, opportunities, and tactics.
B) strengths, weaknesses, options, and tactics.
C) strengths, weaknesses, opportunities, and threats.
D) simple, workable, optimal, and timely.
E) state the problem, work out a strategy, organize your team, and take action.

Accepted Answer

SWOT analysis stands for strengths, weaknesses, opportunities, and threats, which are the key components analyzed to understand the internal and external factors affecting an organization.

Question 15

All of the following are marketing actions that can be taken as a result of a SWOT analysis except which?
A) exploit an opportunity
B) enhance sales with action
C) avoid a disaster-laden threat
D) build on a strength
E) correct a weakness

Accepted Answer

Enhancing sales with action is not directly related to the outcomes of a SWOT analysis, which focuses on identifying and addressing strengths, weaknesses, opportunities, and threats.

Question 16

Figure 2-7
-Consider Figure 2-7 above. A Florida-based flashlight company has been extremely successful due in part to the number of hurricanes in Florida that result in power outages. The firm is thinking of expanding its product offerings to include other emergency supplies such as generators and survival kits that include food bars, a water filtration system, and first aid supplies. Although there are nine named hurricanes forecasted for the upcoming year, no one really can predict what will happen. The projected number of hurricanes would fall in which quadrant(s) of the SWOT analysis grid?
A) A
B) B
C) C
D) D
E) both C and D

Accepted Answer

The projected number of hurricanes would fall in both quadrants C (External Opportunities) and D (External Threats) of the SWOT analysis grid.

Question 17

All of the following form the foundation upon which a firm builds its marketing program during the strategic marketing process except which?
A) Research the organization's present and prospective customers.
B) Determine what business the organization is in.
C) Assess the organization itself.
D) Identify trends in the organization's industry.
E) Analyze the organization's competitors.

Accepted Answer

Determining what business the organization is in is more related to defining the company's mission or vision, rather than forming the foundation of a marketing program. The other options are directly related to understanding the market and competitive environment, which are crucial for developing a marketing strategy.

Question 18

Taking stock of where the firm or product has been recently, where it is now, and where it is headed in terms of the organization's marketing plans and the external forces and trends affecting it is
A) tactical planning.
B) market planning.
C) goal setting.
D) environmental scanning.
E) situation analysis.

Accepted Answer

Situation analysis involves assessing the current state of a firm or product, its past performance, and future direction in the context of marketing plans and external factors.

Question 19

An effective summary tool for an organization's situation analysis is
A) a SWOT analysis.
B) strategic management planning.
C) environmental scanning.
D) a market-product grid analysis.
E) marginal analysis.

Accepted Answer

A SWOT analysis is an effective tool for summarizing an organization's internal strengths and weaknesses, as well as external opportunities and threats, providing a comprehensive overview of its situation.

Question 20

Step 2 in the planning phase of the strategic marketing process consists of
A) the situation (SWOT) analysis.
B) market-product focus and customer value proposition.
C) the marketing program.
D) business portfolio analysis.
E) diversification analysis.

Accepted Answer

Step 2 in the planning phase of the strategic marketing process involves market-product focus and customer value proposition, which includes identifying target markets and determining how to deliver value to them.

Quiz 2: Developing Successful Organizational and Marketing Strategies

The initial step in the planning phase of the strategic marketing process involves

A situation analysis refers to

Figure 2-7 -Quadrant A in Figure 2-7 above represents a(n) ________ in a SWOT analysis.

What are the three steps involved in the planning phase of the strategic marketing process?

A situation analysis requires a firm to consider the external forces and trends that affect it, either favorable or unfavorable. Which scenario is an example of an external force?

Step 3 in the planning phase of the strategic marketing process consists of

The goal of a SWOT analysis is to

The acronym SWOT, as in SWOT analysis, stands for

All of the following are marketing actions that can be taken as a result of a SWOT analysis except which?

All of the following form the foundation upon which a firm builds its marketing program during the strategic marketing process except which?

Taking stock of where the firm or product has been recently, where it is now, and where it is headed in terms of the organization's marketing plans and the external forces and trends affecting it is

An effective summary tool for an organization's situation analysis is

Step 2 in the planning phase of the strategic marketing process consists of