Question 1

The marketing management process consists of (1) planning marketing activities, (2) directing the implementation of the plans, and (3) controlling these plans.

Accepted Answer

Controlling is a critical part of any planning process as it ensures that plans are being executed effectively and achieving their intended results.

Question 2

Strategic planning is a top management job that includes planning only for marketing.

Accepted Answer

Strategic planning is a top management job that involves planning for all aspects of the organization, including but not limited to marketing.

Question 3

Planning, implementation, and control are basic jobs of all managers.

Accepted Answer

Planning, implementation, and control are the fundamental responsibilities of all managers across all levels and in all types of organizations.

Question 4

A marketing strategy specifies a target market and a related marketing mix.

Accepted Answer

A marketing strategy involves identifying a specific target market and developing a marketing mix that appeals to that target market.

Question 5

A marketing mix consists of the uncontrollable variables which a company puts together to satisfy a target market.

Accepted Answer

A marketing mix consists of the controllable variables that a company puts together to satisfy a target market, not the uncontrollable variables. The controllable variables are commonly referred to as the 4 Ps of marketing: product, price, promotion, and place.

Question 6

A marketing strategy is composed of two interrelated parts--a target market and a marketing mix.

Accepted Answer

A marketing strategy is indeed composed of two interrelated parts--a target market and a marketing mix. The target market refers to the group of customers that the company aims to attract and serve. The marketing mix, on the other hand, consists of the key elements the company uses to promote its products or services to the target market, namely the product, price, place, and promotion. Together, the target market and marketing mix form the foundation of a company's marketing strategy.

Question 7

The mass marketing approach is more production-oriented than marketing-oriented.

Accepted Answer

The mass marketing approach focuses more on producing large quantities of standardized products, rather than tailoring products to specific market segments or customer needs, making it more production-oriented than marketing-oriented.

Question 8

Mass marketing means focusing on some specific customers, as opposed to assuming that everyone is the same and will want whatever the firm offers.

Accepted Answer

Mass marketing assumes that everyone is the same and will want the same product or service, without targeting specific customers. The statement in the question is the opposite of what mass marketing actually means.

Question 9

Finding attractive opportunities and developing profitable marketing strategies are the tasks included in the marketing manager's marketing strategy planning job.

Accepted Answer

This statement accurately describes the responsibilities of a marketing manager in terms of marketing strategy planning.

Question 10

Potential customers are all alike.

Accepted Answer

Each potential customer has unique preferences, needs, and behaviors. It is important for businesses to understand and cater to these individual differences in order to successfully market and sell their products or services.

Question 11

The two parts of a marketing strategy are an attractive opportunity and a target market.

Accepted Answer

The answer of The two parts of a marketing strategy...

Question 12

The terms mass marketing and mass marketers mean the same thing.

Accepted Answer

Mass marketing refers to a strategy that targets a wide audience with broad advertising messages, while mass marketers are the entities (companies or individuals) that employ this strategy.

Question 13

Marketing strategy planning is the process of deciding how best to sell the products the firm produces.

Accepted Answer

The answer of Marketing strategy planning is the process of...

Question 14

A marketing strategy is composed of two interrelated parts--planning and implementation.

Accepted Answer

The answer of A marketing strategy is composed of two...

Question 15

The problem with target marketing is that it limits the firm to small market segments.

Accepted Answer

Target marketing actually allows firms to focus their resources and efforts on specific market segments, which can lead to more effective marketing and higher profits. However, if a firm only focuses on one small market segment and ignores other potential markets, it could limit its overall growth potential.

Question 16

Strategic (management) planning is a managerial process of developing and maintaining a match between the resources of the production department and its product opportunities.

Accepted Answer

Strategic planning is a broader process that involves setting an organization's overall direction and priorities, not just aligning the production department's resources with product opportunities. It encompasses all areas of an organization, including marketing, finance, operations, and human resources.

Question 17

The three basic jobs in the marketing management process are planning, implementation, and control.

Accepted Answer

Planning involves setting goals and objectives, conducting market research, and developing strategies. Implementation involves executing those strategies and tactics, such as developing product, promotion, pricing, and distribution plans. Control involves monitoring and evaluating performance, making adjustments as needed, and taking corrective action where necessary. These three jobs are essential for effective marketing management.

Question 18

A target market consists of a group of consumers who are usually quite different.

Accepted Answer

A target market consists of a group of consumers who share similar needs or characteristics that a company aims to serve.

Question 19

Target marketing aims a marketing mix at some specific target customers.

Accepted Answer

Target marketing focuses on a specific group of customers and tailors the marketing mix to meet their needs and preferences. This helps in better reaching and satisfying the needs of the target market, resulting in higher sales and profits.

Question 20

Strategic planning is the managerial process of developing and maintaining a match between an organization's resources and its market opportunities.

Accepted Answer

This is the definition of strategic planning. It involves analyzing the organization's strengths and weaknesses and identifying opportunities and threats in the market to develop a plan to achieve the organization's goals.

Quiz 2: Marketing Strategy Planning