Deck 2: Strategic Market Planning: Capture the Big Picture

Question 1

Making adjustments to the marketing plan is part of .

A)pricing strategy
B)promotion strategy
C)implementation and control
D)situation analysis
E)corporate culture

Answer 1

C

Question 2

A firm's internal business environment does not include .

A)elements of the legal environment
B)its products
C)its corporate culture
D)its employees
E)its technologies

Answer 2

A

Question 3

Argo is the world's leading manufacturer of small vehicles that are designed to be driven on all types of terrains and in all types of weather.The vehicles can carry up to six passengers.A sales manager decided to increase sales revenue by raising its salespeople's commission from 3 percent to 5 percent on the company's three most expensive models.This decision is an example of .

A)operational planning
B)strategic planning
C)business planning
D)SWOT analysis
E)brand competition

Answer 3

A

Question 4

The determines how much a firm charges for a product.

A)product segment
B)strategic planning
C)corporate culture
D)pricing strategy
E)product strategy

Question 5

Argo is the world's leading brand of small vehicles that are designed to be driven on all types of terrain and in all types of weather.The vehicles can carry up to six passengers.The market for such vehicles has become stagnant due to the recent economic downturn.In terms of the BCG growth- market share matrix,Argo would be classified as a .

A)dog
B)cash cow
C)star
D)question mark
E)problem child

Question 6

Including an in- seat video games during airline flights is a decision.

A)corporate culture
B)strategic planning
C)target segment
D)product strategy
E)pricing

Question 7

The vice president of marketing of a software development company periodically develops a ,which includes marketing research data on the target market,marketing objectives such as "to increase new customers by 20 percent," and a list of who will be responsible for implementation.

A)marketing mix
B)pricing strategy
C)strategic plan
D)outline for a market development strategy
E)marketing plan

Question 8

is the third level of planning.

A)Product development
B)Functional planning
C)Business planning
D)Strategic planning
E)Operational planning

Question 9

The is how marketers communicate the product's value proposition to the target market.

A)product strategy
B)pricing strategy
C)promotion strategy
D)strategic planning
E)product segment

Question 10

A donut shop chain became available outside of North America for the first time with the opening of a shop in Australia.The company used a strategy.

A)market development
B)product penetration
C)product development
D)diversification
E)market penetration

Question 11

Marketers use _ as a means to determine whether they are meeting their marketing objectives.

A)diversification strategies
B)controls
C)market development strategies
D)brand competition
E)demographics

Question 12

The for Mothers Against Drunk Driving (MADD)is "to stop drunk driving,support the victims of this violent crime,and prevent underage drinking."

A)market penetration strategy
B)portfolio analysis
C)mission statement
D)operational plan
E)diversification strategy

Question 13

Richard Pickering and National Book Swap,LLC needs to do that includes defining the product's identity and purpose.

A)market segmentation
B)marketing metrics
C)operations
D)business planning
E)target marketing

Question 14

Archetype is a Unilever SBU that markets a number of different tea brands around the world.Each brand addresses the taste and emotions of local tea cultures.Which of the following would be part of Archetype's internal environment?

A)a shortage of tea leaves due to unusual weather conditions
B)marketing Archetype does to reach consumers and satisfy their cultural needs
C)changes in the way people drink tea
D)increased competition from a local tea producer
E)government regulations of information on package labels

Question 15

Implementation and control manifests itself within a marketing plan through .

A)promotion strategies
B)action plans
C)corporate culture
D)return on marketing investment
E)situation analysis

Question 16

Which of the following best describes the components of the marketing mix?

A)product,price,place,and promotion
B)everything considered during functional planning
C)all aspects of the marketing environment
D)people,product,price,and placement
E)production,price,distribution,and people

Question 17

Columbia Sportswear has introduced a new line of comfortable,lightweight clothing for people who fish.An example of is the decision to run a full- page ad in Field & Stream magazine in May to get potential customers to ask their sporting goods stores to carry the products that were introduced the preceding month.

A)strategic planning
B)operational planning
C)product competition
D)business planning
E)brand competition

Question 18

"The purpose of Motorola is to honorably serve the needs of the community by providing products and services of superior quality at a fair price to our customers; to do this so as to earn an adequate profit which is required for the total enterprise to grow; and by doing so provide the opportunity for our employees and shareholders to achieve their reasonable personal objectives." The preceding statement is Motorola's _ .

A)strategic objective
B)strategic plan
C)marketing objective
D)mission statement
E)external environment philosophy

Question 19

is the managerial decision process that matches the organization's resources and capabilities to its market opportunities for long- term growth.

A)SWOT analysis
B)Operational planning
C)Strategic planning
D)Corporate culture
E)Portfolio analysis

Question 20

Weitz and Leupold make optical lenses.From the start,an almost Puritanical- like ethics code that tolerates no deviation from expected behavior developed.Employees are expected to report on fellow workers who do not adhere to the company norms.This is a brief description of the company's _.

A)corporate culture
B)management hierarchy
C)cultural autonomy
D)managerial portfolio
E)organizational chart

Question 21

Unilever makes Rexona deodorant and antiperspirant,and it is the world's number one brand of deodorant and antiperspirant.Because the worldwide market for deodorants and antiperspirants is growing rapidly,Unilever would classify Rexona as a on the BCG growth- market share matrix.

A)question mark
B)star
C)cash cow
D)dog
E)problem child

Question 22

A firm's is the market segment selected because the firm believes that the offerings of the firm are most suited to winning those customers.

A)managerial portfolio
B)target market
C)marketing objectives
D)corporate culture
E)management hierarchy

Question 23

The state what the marketing function must accomplish to achieve overall business objectives.

A)strategic plans
B)situation analyses
C)functional plans
D)marketing objectives
E)market development strategies

Question 24

The is the step in developing a marketing plan that includes an analysis of the marketing environment.

A)measurement of monopoly power
B)identification as to how marketing strategies will be implemented
C)outline of marketing strategies
D)functional plan
E)situation analysis

Question 25

Marketing planning is followed by the ,which details how the plan will be carried out,outlining the day- to- day execution.

A)operational plan
B)corporate culture
C)alternative strategy
D)strategic plan
E)time line

Question 26

SBU stands for .

A)strategic business units
B)standard business units
C)strategy buying utilities
D)successful business utilities
E)successful business units

Question 27

If Xerox had continued to define its in terms of just producing copy machines instead of providing "document solutions," the shift to electronic documents would have left them in the dust.

A)mission
B)external environment
C)portfolio analysis
D)operational plan
E)SWOT analysis

Question 28

Which of the following actions would NOT be a part of a marketing plan?

A)identification as to how marketing strategies will be monitored and controlled
B)making sure the firm has a strong monopoly in the industry
C)outlines of marketing strategies
D)identification as to how marketing strategies will be implemented
E)describing the marketing environment

Question 29

A firm's is made up of the ethical values,norms,and beliefs that influence the behavior of everyone in the organization.

A)corporate culture
B)management hierarchy
C)organizational chart
D)cultural autonomy
E)managerial portfolio

Question 30

During the analysis of the ,managers build on the SWOT analysis by searching out information that specifically affects the marketing plan.

A)functional plan
B)marketing environment
C)outline of marketing strategies
D)product development process
E)monopoly power of the firm

Question 31

are rules of conduct - how most people in a culture judge what is right and what is wrong.

A)Tactics
B)Ethics
C)Habits
D)Plans
E)Segments

Question 32

The growth- market share matrix developed by the Boston Consulting Group (BCG)is an example of a type of .

A)value chain
B)situational analysis
C)SWOT analysis
D)compatibility assessment
E)portfolio analysis

Question 33

Serengeti makes lightweight sunglasses with 100 percent UV protection for people who love to hunt,hike,and bike ride.Its long- term plans include the development of lenses that,in addition to protecting users from UV rays,will also have effective water- sheeting action to reduce lens spotting; this new feature will be valuable to people who fish.Serengeti has determined that fishing is one of the fastest growing sports in the United States.In terms of a SWOT analysis,Serengeti has recognized a market .

A)strength
B)corporate culture
C)weakness
D)opportunity
E)threat

Question 34

John H.Harland Company is best known for printing personal and business checks,but it also owns Scantron,a computerized testing and assessment company.Harland's purchase of Scantron was an example of the implementation of a _ strategy.

A)market penetration
B)market development
C)diversification
D)product penetration
E)product development

Question 35

A growth strategy that attracts users of competitive brands is called a strategy.

A)product penetration
B)product development
C)market penetration
D)diversification
E)market development

Question 36

Orkin knows homeowners skimp on maintenance services such as pest control during recessions.It also knows that the more consumers know about bugs,the more likely they are to buy its services.So it teamed with the Smithsonian Institution on the Insect Safari,a traveling exhibit designed to teach people about the critters.The Safari truck visited 108 cities during one year,leaving a wake of creeped- out insectophobes reaching for the phone numbers of the local Orkin franchise.Business increased in each city visited.Decisions on which insects to feature,where to put the Orkin logo on the truck,and what kinds of promotion to use in each city visited are all examples of plans.

A)operational
B)hierarchical
C)strategic
D)functional
E)qualitative

Question 37

generally cover a shorter time period than other plans-- perhaps only one or two months,and include detailed directions for specific activities to be carried out.

A)Operational plans
B)Pricing strategies
C)Strategic plans
D)Time lines
E)Marketing plans

Question 38

The ROI of a campaign,the value of a prospect,and the response rates in direct marketing are all examples of .

A)situation analysis
B)implementation and control
C)promotions
D)corporate culture
E)marketing metrics

Question 39

Strategic planning for a large firm such as Disney probably occurs .

A)on an as needed basis based upon the success of the division
B)only at the individual business unit level
C)at both the overall corporate level and at the individual strategic business unit level
D)at the location best suited for this function based upon findings of the SWOT analysis
E)only in its corporate headquarters

Question 40

Biopure is a company that manufactures and markets oxygen therapeutics.Its products are Hemopure for human use and Oxyglobin for animal use.Both have been developed as alternatives to red blood cell transfusions.Which of the following would be part of Biopure's internal environment?

A)approval by the U.S.Food and Drug Administration to allow veterinarians to use Oxyglobin
B)a competitor developing a similar product
C)changes in patent law
D)the patented manufacturing process that it uses to produce Hemopure and Oxyglobin
E)the global market for the raw materials needed to make Hemopure and Oxyglobin

Question 41

The market for two- way radios is disappearing.If a company has a small share of the two- way radio market,it would be considered a _ in terms of the BCG growth- market share matrix.

A)dog
B)cash cow
C)problem child
D)star
E)question mark

Question 42

After the marketing plans are created,the _ _ of the plan is what usually makes or breaks the success of the firm in the marketplace.

A)implementation
B)situation analysis
C)pricing strategy
D)strategic plan
E)corporate culture

Question 43

A _ is a tool management uses to assess the potential of a firm's products or businesses.It helps management decide which of its current SBUs should receive resources.

A)compatibility assessment
B)portfolio analysis
C)situational analysis
D)SWOT analysis
E)value chain

Question 44

The outlines how,when,and where the firm will make the product available to targeted customers.

A)distribution strategy
B)target market
C)pricing strategy
D)promotion strategy
E)product strategy

Question 45

There are a total of symbols within the BCG growth- market share matrix to designate business units that fall within a certain range for market growth rate and market share.

A)four
B)six
C)three
D)two
E)five

Question 46

Which of the following types of managers would be most likely to engage in operational planning on a daily basis?

A)the company's sales manager
B)the company's chief financial officer
C)the company's vice president of product research and development
D)the company's vice president of human resources
E)the company CEO

Question 47

The marketing plan is a type of _.

A)functional plan
B)assurance the firm has a strong monopoly in the industry
C)product development
D)outline of marketing strategies
E)marketing environment

Question 48

Areas of business within a firm that are different enough to have their own mission,business objectives,resources,managers,and competitors are .

A)strategic business units
B)standard business units
C)market development units
D)market penetration units
E)competitive intelligence units

Question 49

A marketing plan would NOT include .

A)a list of who will be responsible for implementing each part of its marketing strategy
B)the outline for a market development strategy
C)marketing objectives such as "to increase local attendance by 20 percent"
D)marketing research data on the travel plans of its target audience as one element of its marketing environment
E)the name of every potential customer

Question 50

emphasize both new products and new markets to achieve growth.

A)Strategic plans
B)Operational plans
C)Monopolies
D)Diversification strategies
E)Market penetration strategies

Question 51

Edy's is a high- quality brand of ice cream.Edy's introduced Godiva ice cream and Starbucks ice cream to tempt ice cream lovers to eat even more ice cream.Edy's used a strategy.

A)product penetration
B)diversification
C)market penetration
D)product development
E)market development

Question 52

is an ongoing process of decision making that guides the firm both in the short term and the long term.

A)Financial planning
B)Business planning
C)Operational planning
D)External adaptation
E)SWOT analysis

Question 53

A _ _ is a document that describes the marketing environment,outlines the marketing objectives and strategy,and identifies who will be responsible for carrying out each part of the marketing strategy.

A)strategic plan
B)financial plan
C)business plan
D)marketing plan
E)communications plan

Question 54

The is the most fundamental part of the marketing mix.

A)price
B)product
C)people
D)distribution
E)production

Question 55

Advertising,sales promotion,public relations and publicity,direct marketing,and personal selling are all part of the _ _.

A)product strategy
B)pricing strategy
C)target market
D)strategic planning
E)promotion strategy

Question 56

According to the BCG growth- market share matrix,are strategic business units with products that have a dominant market share in a high- growth market.

A)stars
B)problem children
C)exclamation points
D)cash cows
E)question marks

Question 57

A _ is a firm's set of written standards of moral behavior to which everyone in the organization must subscribe and which set standards for how the organization interacts with its stakeholders.

A)code of ethics
B)civil law
C)strategic plan
D)marketing plan
E)business plan

Question 58

Columbia Sportswear makes nylon activewear.Its marketing manager set a goal to increase its sales 12 percent over the next three years through the introduction of a new line of comfortable,lightweight clothing for people who fish.Its marketing manager is engaged in .

A)operational planning
B)strategic implementation
C)strategic planning
D)functional planning
E)tactical implementation

Question 59

Home Depot expanded its operations into Canada by offering the same products to a new market.Home Depot implemented a strategy.

A)market penetration
B)product development
C)product penetration
D)diversification
E)market development

Question 60

Many airlines' encourages customers to purchase online "ticketless" flight reservations.

A)pricing strategy
B)promotion strategy
C)target market
D)distribution strategy
E)product strategy

Question 61

The CEO,president,and top executive officers are responsible for _ in the strategic plan.

A)operational planning
B)corporate culture
C)developing the details of the pricing strategy
D)defining the firm's purpose
E)designing ad campaigns

Question 62

Budgets and the financial management of the marketing plan are developed around the _ so that managers know when cash outlays are required.

A)corporate culture
B)price strategy
C)alternative strategy
D)time line
E)strategic plan

Question 63

John H.Harland Company is a large company with 5,200 employees and almost $800 million in sales .The company is best known for printing personal and business checks.Harland Analytical Services is a technology company that produces software that enables banks to gauge the behavior of their customers by tracking their spending habits.In addition,Harland owns Scantron,a computerized testing and assessment company.The for John H.Harland Company includes its check- printing business,its financial software business,and its testing and assessment business.

A)market penetration
B)business portfolio
C)functional plan
D)market classification
E)marketing mix

Question 64

Concrete measures of various aspects of marketing performance are .

A)implementation and controls
B)promotions strategies
C)pricing strategies
D)corporate cultures
E)marketing metrics

Question 65

is the process that compares actual progress to the established marketing objectives.

A)Pricing strategy
B)Situation analysis
C)Corporate culture
D)Control
E)Implementation

Question 66

The internal environment of an organization identifies its _.

A)strengths and threats
B)strengths and opportunities
C)opportunities and threats
D)strengths and weaknesses
E)weaknesses and threats

Question 67

Strategic planning occurs at both the overall company level and at the level.

A)marketing
B)operational
C)corporate cultural
D)strategic business unit
E)financial

Question 68

The provides managers with four different fundamental marketing strategies-- market penetration,market development,product development,and diversification.

A)product- market growth matrix
B)marketing plan
C)strengths,weaknesses,opportunities,and threats
D)mass- marketing communications plan
E)strategic plan

Question 69

Quantifying how an investment in marketing impacts the firm's success,financially and otherwise,is the notion of _ .

A)marketing metrics
B)situation analysis
C)implementation and control
D)corporate culture
E)return on marketing investment

Question 70

According to the BCG growth- market share matrix,are strategic business units with products that have a dominant market share in a low- growth market.

A)exclamation points
B)cash cows
C)question marks
D)dogs
E)stars

Question 71

The external environment of an organization determines the organization's .

A)weaknesses and threats
B)opportunities and threats
C)strengths and weaknesses
D)strengths and opportunities
E)strengths and threats

Question 72

The four Ps (product,price,place and promotion)are known as the ?

A)marketing environment
B)marketing concept
C)functional planning mix
D)controls
E)marketing mix

Question 73

To develop strategic plans,top- level corporate managers follow three steps.The first of these steps is to .

A)examine historical data
B)define a mission for the total corporation
C)recruit and hire the right personnel
D)allocate resources to the company's various SBUs
E)establish the marketing's short- term objectives

Question 74

is the formal process of monitoring progress toward meeting marketing objectives.

A)Pricing strategy
B)Situation analysis
C)Implementation
D)Control
E)Corporate culture

Question 75

Each year,Honeywell asks every department manager to rate his or her department's strengths and weaknesses as well as those of the other departments with which the department interacts.Then each department manager is asked what s/he sees as the greatest threat and/or opportunity for the company.Honeywell has its department managers engage in an annual .

A)SWOT analysis
B)functional planning session
C)portfolio analysis
D)value chain
E)compatibility assessment

Question 76

Serengeti makes lightweight sunglasses with 100 percent UV protection for people who love to hunt,hike,and bike ride.Its long- term plans include the development of lenses that,in addition to protecting users from UV rays,will also have effective water- sheeting action to reduce lens spotting; this new feature will be valuable to people who fish.The company believes it can use its reputation as a sunglass manufacturer for a specialized market in combination with its current manufacturing facilities and labor force to enter this new market.In terms of a SWOT analysis,Serengeti will be relying on its marketing to make its new product a success.

A)opportunities
B)BCG matrix
C)threats
D)strengths
E)weaknesses

Question 77

The for Internet auction site eBay.com is "We help people trade practically anything on earth.We will continue to enhance the online trading experiences of all-- collectors,dealers,small businesses,unique item seekers,bargain hunters,opportunity sellers,and browsers."

A)strategic objectives
B)strategic plans
C)mission statement
D)functional plans
E)marketing objectives

Question 78

A film company has a high market share in the films for children segment.The children's segment is a low growth market.This business fits into the category of the BCG growth- market share matrix.

A)dog
B)star
C)problem child
D)question mark
E)cash cow

Question 79

Serengeti makes lightweight sunglasses with 100 percent UV protection for hunters,hikers,and cyclists.Serengeti's long- term plans include the development of lenses for fishermen.These new lenses will have effective water- sheeting action to reduce lens spotting.Serengeti believes it can use its reputation as a sunglass manufacturer for specialized markets to enter this new market of fishermen.The managerial decision to add sunglasses for people who fish is an example of .

A)operational planning
B)functional planning
C)portfolio analysis
D)strategic planning
E)SWOT analysis

Question 80

The president of a medium- sized company is concerned with the amount of money the company spends on marketing.He asks the vice president of marketing to develop a(n)to show him how marketing has financially contributed to the company.

A)outline for a market development strategy
B)pricing strategy
C)job cost analysis
D)marketing objective
E)return on marketing investment