Question 1

Figure 2-4
 
-SBUs found in quadrant "C" (Figure 2-4)would be called
A)dogs.
B)cash cows.
C)question marks.
D)stars.

Accepted Answer

The answer of Figure 2-4
 
-SBUs found in quadrant "C"...

Question 2

The terrorists' attack on the World Trade Center and the Pentagon led to many changes in the way people conducted their everyday lives. One outgrowth of this attack was a need to reconnect with old friends through the sending of greeting cards. American Greetings announced a significant increase in sales that it directly relates to events on September 11. For American Greetings the terrorists' attacks was an example of a(n):
A)weakness.
B)opportunity.
C)strength.
D)threat.

Accepted Answer

The increase in sales for American Greetings is a direct result of the events of September 11, which can be seen as an opportunity for the company to profit from people's desire to reconnect with loved ones after the tragedy. Therefore, the terrorist attacks are an example of an opportunity for American Greetings.

Question 3

Figure 2-4
 
-SBUs found in quadrant "A" (Figure 2-4)would be called
A)question marks.
B)stars.
C)dogs.
D)cash cows.

Accepted Answer

Stars are SBUs with high market growth rate and high market share, typically found in quadrant A of the BCG matrix.

Question 4

Categorizing a group of consumers for soda on the basis of whether they wanted sugar-free and caffeine-free, caffeine-free but with sugar, or regular with sugar and caffeine is an example of:
A)Profiling
B)Aggregation marketing
C)Market segmentation
D)Market clustering

Accepted Answer

Market segmentation involves dividing a market into smaller groups of consumers with similar needs or characteristics. In this case, the consumers are being categorized based on their preferences for sugar-free and caffeine-free, caffeine-free with sugar, or regular with sugar and caffeine. This helps companies tailor their marketing efforts and products to specific groups of consumers, increasing the effectiveness of their overall marketing strategy. Profiling, aggregation marketing, and market clustering are not specifically related to this type of categorization.

Question 5

When Samsung considers launching a new smartphone, the first step the marketing department engages in is:
A)situation analysis.
B)establishing the budget.
C)developing advertising appeals.
D)goal setting.

Accepted Answer

The first step that the marketing department engages in when Samsung considers launching a new smartphone is a situation analysis. This involves gathering and analyzing information about the market, competitors, target audience, and other relevant factors to develop a better understanding of the current environment and determine the best strategy for launching the new product.

Question 6

Ford Motor Company of Canada lumps together prospective buyers that share common needs for purchasing a new vehicle. What is Ford engaged in:
A)market clustering
B)aggregation marketing
C)market segmentation
D)profiling

Accepted Answer

Ford is engaged in market segmentation, which is the process of dividing a larger market into smaller groups of consumers with similar needs or characteristics. By grouping prospective buyers that share common needs for purchasing a new vehicle, Ford can tailor their marketing efforts and product offerings to better meet the needs of each segment. Market clustering is not a recognized marketing term. Aggregation marketing refers to the practice of combining multiple products or services into a single bundled offering. Profiling is the process of collecting and analyzing data about a group of people to determine common characteristics or behaviors.

Question 7

A toothbrush manufacturer sells several lines of toothbrushes. One line is for small children, one line is for people with gum problems, and one is for people who wear dentures. This product differentiation is the result of:
A)market segmentation.
B)distinctive competencies.
C)organizational strengths.
D)market programming.

Accepted Answer

The toothbrush manufacturer is segmenting its market by offering different toothbrush lines for different types of consumers. This allows the company to target specific groups with tailored products and messaging, improving the chances of success in each market segment.

Question 8

In the 1980s, poor quality and Japanese imports drove the Harley-Davidson motorcycle company to brink of bankruptcy. The company's share of the U.S. super-heavy-weight market - motorcycles with engine capacity of 850 cubic centimeters or more - collapsed from more than 40 percent in the mid-1970s to 23 percent in 1983. However, by 1989, Harley-Davidson controlled some 65 percent of the U.S. market; and both in
The U.S. and overseas markets, the company won't be able to meet demand for years.
From a marketing perspective, what was the likely first step in Harley-Davidson's resurgence?
A)seeking new markets for the motorcycles both in the U.S. and in foreign markets
B)development of a new mission statement and subsequent marketing strategy
C)repositioning their product in the minds of motorcycle buyers
D)performing a SWOT analysis

Accepted Answer

The answer of In the 1980s, poor quality and Japanese...

Question 9

A television production company was looking for an idea for a new show and
approached Emeril Lagasse, a charismatic chef that frequently appears on the Food Channel. It was decided the production company would build a show based around Lagasse's life. While the casting of the popular Lagasse insured people would watch the first couple shows, poor scripts led to the cancellation of the show. In terms of the SWOT analysis, the casting of Lagasse was a________, and the poor scripts were a ________.
A)opportunity; threat
B)threat; opportunity
C)strength; weakness
D)weakness; threat

Accepted Answer

The casting of Emeril Lagasse is a strength because he is a charismatic chef with a following which would attract viewers. The poor scripts are a weakness because they resulted in the show's cancellation. Therefore, the best choice is C, where the casting of Lagasse is a strength and the poor scripts are a weakness.

Question 10

What are the three steps involved in the PLANNING phase of the strategic marketing process?
A)planning; implementation; and control
B)identify industry trends; analyze competitors; assess own company; and research customer
C)set market and product goals; select target markets; find points of difference; and position the product
D)situation (SWOT)analysis; market-product focus and goal setting; and marketing program development

Accepted Answer

The three steps involved in the planning phase of the strategic marketing process are situation (SWOT) analysis, market-product focus and goal setting, and marketing program development. Option D includes these three steps. Option A is incorrect because it includes implementation and control, which are part of the next phases of the strategic marketing process. Option B includes several steps, but not necessarily all related to planning. Option C includes important steps, but not necessarily all involved in the planning phase.

Question 11

When deciding how the products Pepsi One will differ from Diet Pepsi, Pepsi must develop an effective:
A)market dramatization.
B)market divestiture.
C)marketing program.
D)product demonstration.

Accepted Answer

Developing a marketing program is the most appropriate option in this scenario as it involves creating a strategy that clearly defines how Pepsi One will differ from Diet Pepsi and how it will be positioned in the market. This includes identifying the target market, messaging, pricing, distribution channels, and promotional activities. Market dramatization focuses on creating attention-grabbing advertising or promotions, while market divestiture involves getting rid of a business unit or product line. Product demonstration refers to showcasing the features and benefits of a product. While these are all important aspects of marketing, they are not as relevant to the task of differentiating Pepsi One from Diet Pepsi.

Question 12

Myers Apple Farm discovers the trend that consumers are more focused about buying locally produced and heirloom varieties of apples. Which aspect of the situational analysis is this considered:
A)market trend
B)strength
C)opportunity
D)SWOT analysis.

Accepted Answer

This is considered an opportunity within the situational analysis as it highlights a potential area of growth and increased demand for the farm's locally produced and heirloom varieties of apples.

Question 13

The Marketing Manager at Pepsi describes to a new employee that her first major task is to develop a road map for Pepsi One. The new employee is confused, until he realizes that the Manager is referring to a(n)________for Pepsi One.
A)social media plan.
B)marketing plan.
C)SWOT analysis
D)4Ps assessment.

Accepted Answer

Developing a road map for a product typically refers to creating a marketing plan, which outlines the strategies and tactics for promoting and selling the product. A social media plan, SWOT analysis, and 4Ps assessment may be components of a marketing plan, but they are not the overall plan itself.

Question 14

Taking stock of where an organization has been recently, where it is now, and where it is headed in light of the organization's plans and the external factors and trends affecting it is called the:
A)strategic market planning.
B)situation analysis.
C)systems analysis.
D)goal setting.

Accepted Answer

The term used to describe taking stock of an organization's recent past, current state, and future plans in the context of external factors is known as a situation analysis. Strategic market planning involves developing strategies to achieve organizational goals, systems analysis focuses on evaluating and improving internal systems and processes, and goal setting pertains to establishing specific objectives to work towards.

Question 15

A June 1998 Congressional initiative mandated that the U.S. Department of Transportation (USDOT)establish a national traffic information collection system.
The marketing manager of a company that provided traffic reports for local radio
Stations would most likely incorporate which aspect of this knowledge into its SWOT analysis as:
A)a strength if the company has an existing working relationship with the USDOT.
B)a threat if the company that provides local traffic information has no employees technologically capable of using the USDOT system.
C)a weakness if the USDOT will give this information directly to the radio stations.
D)a threat if the USDOT is creating a network of local traffic-information providers to address the mandate.

Accepted Answer

The answer of A June 1998 Congressional initiative mandated that...

Question 16

Situation analysis requires a firm to consider both internal and external factors. Which of the following is NOT an example of an external factor?
A)consumer demand
B)technological
C)departmental objectives
D)competitive

Accepted Answer

Departmental objectives are an internal factor, as they are specific to the firm and reflect its goals and priorities. Consumer demand, technological progress, and competition are all external factors that can affect the firm's operations and performance.

Question 17

The components of strengths and weaknesses are often considered as which part of the situational analysis:
A)external to the organization
B)internal to the organization
C)both internal and external to the organization
D)not part of the situational analysis

Accepted Answer

Strengths and weaknesses are internal factors and therefore are part of the internal analysis of the situational analysis. External factors, such as opportunities and threats, would be part of the external analysis.

Question 18

In the early months of 2002, strikes throughout Nigeria almost led to the country's financial ruin. For a company trying to do business in Nigeria during those months, the strikes would be an example of a(n):
A)threat.
B)strength.
C)weakness.
D)opportunity.

Accepted Answer

The strikes in Nigeria would be considered a threat, as they posed a significant risk to companies attempting to conduct business in the country. The strikes could potentially disrupt supply chains, harm economic stability, and create security concerns for businesses operating in the area, all of which would be detrimental to their success.

Question 19

Figure 2-4
 
-SBUs found in quadrant "B" (Figure 2-4)would be called
A)question marks.
B)cash cows.
C)dogs.
D)stars.

Accepted Answer

According to the BCG matrix, SBUs in quadrant "B" are considered question marks because they have a low market share but are in a growing market. These SBUs require substantial investment to grow and become stars or cash cows.

Question 20

The goal of a SWOT analysis is to:
A)develop new products for new market segments.
B)discover areas for diversified investment outside the firm's marketing areas.
C)keep top management placated.
D)identify those critical factors that can have a major effect on the firm.

Accepted Answer

The goal of a SWOT analysis is to identify the critical factors that can have a major effect on the firm, including both internal strengths and weaknesses as well as external opportunities and threats. This can help the firm better understand its current position and make strategic decisions to improve its competitive advantage. Options A and B may be potential outcomes of a SWOT analysis, but they are not the primary goal. Option C is not a valid goal for a SWOT analysis as it does not provide any actual benefit to the firm's operations or strategy.

Quiz 2: Developing Successful Marketing Strategies

Figure 2-4 -SBUs found in quadrant "C" (Figure 2-4) would be called

Figure 2-4 -SBUs found in quadrant "A" (Figure 2-4) would be called

Categorizing a group of consumers for soda on the basis of whether they wanted sugar-free and caffeine-free, caffeine-free but with sugar, or regular with sugar and caffeine is an example of:

When Samsung considers launching a new smartphone, the first step the marketing department engages in is:

Ford Motor Company of Canada lumps together prospective buyers that share common needs for purchasing a new vehicle. What is Ford engaged in:

A toothbrush manufacturer sells several lines of toothbrushes. One line is for small children, one line is for people with gum problems, and one is for people who wear dentures. This product differentiation is the result of:

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

When deciding how the products Pepsi One will differ from Diet Pepsi, Pepsi must develop an effective:

Myers Apple Farm discovers the trend that consumers are more focused about buying locally produced and heirloom varieties of apples. Which aspect of the situational analysis is this considered:

The Marketing Manager at Pepsi describes to a new employee that her first major task is to develop a road map for Pepsi One. The new employee is confused, until he realizes that the Manager is referring to a(n) ________for Pepsi One.

Taking stock of where an organization has been recently, where it is now, and where it is headed in light of the organization's plans and the external factors and trends affecting it is called the:

Situation analysis requires a firm to consider both internal and external factors. Which of the following is NOT an example of an external factor?

The components of strengths and weaknesses are often considered as which part of the situational analysis:

In the early months of 2002, strikes throughout Nigeria almost led to the country's financial ruin. For a company trying to do business in Nigeria during those months, the strikes would be an example of a(n) :

Figure 2-4 -SBUs found in quadrant "B" (Figure 2-4) would be called

The goal of a SWOT analysis is to: