Question 1

Goals are more specific than objectives.

Accepted Answer

Objectives are more specific and easier to measure than goals. Goals are broad primary outcomes, while objectives are specific steps or actions you take to reach your goal.

Question 2

In developing a marketing plan, the section on goals and objectives defines the parameters by which the firm will measure actual performance. In this respect, the goals and objectives section is tied closely to the __________ section of the marketing plan.

Accepted Answer

The goals and objectives section of a marketing plan is closely tied to the evaluation and control section because it sets the benchmarks for performance measurement, allowing the firm to assess how well the marketing strategies are achieving the defined goals and objectives.

Question 3

In the marketing strategy section of the marketing plan, the firm details how it will gain a competitive advantage by doing something better than the competition.

Accepted Answer

The marketing strategy section of a marketing plan outlines how a company will achieve a competitive advantage by identifying and executing actions that allow it to perform better than its competitors in key areas such as product development, pricing, distribution, and promotion.

Question 4

In a truly market-oriented organization, what is the role of the CEO?

Accepted Answer

In a market-oriented organization, the CEO's role is to ensure that employees have the resources and support they need to perform their jobs effectively, which ultimately helps in meeting customer needs and achieving organizational goals.

Question 5

Sears at one time lost sight of its mission and jumped into markets such as real estate and financial services that did not fit its strengths or core operations. This most likely occurred because Sears lacked a mission statement with the appropriate:

Accepted Answer

The answer of Sears at one time lost sight of...

Question 6

When approving the marketing plan, which of the following questions will a top manager ask?

Accepted Answer

Top managers will focus on whether the marketing plan will achieve the desired marketing, business unit, and corporate goals and objectives, as this is crucial for the overall success and alignment with the company's strategic direction.

Question 7

Marketing goals should be specific statements stated in quantitative terms.​

Accepted Answer

The answer of Marketing goals should be specific statements stated...

Question 8

The executive summary is the first part of the marketing plan.

Accepted Answer

The executive summary is typically the first section of a marketing plan, summarizing the main points of the plan for quick review.

Question 9

Situation analysis ​summarizes pertinent information about the internal environment, external environment, and customer environment.

Accepted Answer

Situation analysis involves evaluating the internal and external factors that affect a company, including understanding the market, competitors, and the overall customer environment.

Question 10

__________ firms are those that successfully generate, disseminate, and respond to market information.

Accepted Answer

Market-oriented firms are characterized by their focus on generating, disseminating, and responding to market information to meet customer needs effectively.

Question 11

All organizations need a __________, the central scheme for utilizing and integrating resources in the areas of production, finance, research and development, human resources, and marketing to carry out the organization's mission and achieve desired goals and objectives.

Accepted Answer

Corporate strategy is the overarching plan or direction that a company adopts to utilize and integrate its resources across various departments such as production, finance, R&D, human resources, and marketing to fulfill its mission and achieve its goals.

Question 12

The marketing planning process typically requires the coordination of __________ at the top of the corporate hierarchy with more __________ at the bottom.

Accepted Answer

The marketing planning process involves making broad, strategic decisions at the higher levels of an organization and implementing more specific, narrowly defined actions at the lower levels. This ensures that the overarching strategy is effectively executed through detailed tasks.

Question 13

The key to coordination is to ensure that functional areas maintain:

Accepted Answer

Open lines of communication are essential for coordination as they allow different functional areas to share information, align their activities, and work together effectively.

Question 14

The SWOT analysis is derived from the marketing goals and objectives section.

Accepted Answer

SWOT analysis is a strategic planning tool used to identify Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning. It is not derived from marketing goals and objectives but rather informs them.

Question 15

The most pressing concern for the success of a marketing plan is identifying needed resources.

Accepted Answer

Identifying needed resources is a crucial step in developing a successful marketing plan. Without the necessary resources, such as budget, personnel, and technology, it will be difficult to execute the plan effectively and achieve desired results.

Question 16

Focusing on customers has not always been the hallmark of strategic planning. In fact, in the early 20^th century, firms tended to focus strictly on __________ rather than on developing relationships with customers.

Accepted Answer

In the early 20th century, firms primarily focused on efficiency and quality, aiming to produce goods at lower costs and higher standards, rather than on customer relationships.

Question 17

A marketer for Whole Foods compares sales during a certain time period to performance standards in the marketing plan. This process is known as marketing implementation.

Accepted Answer

This process is known as marketing control, which involves measuring and evaluating the results of marketing strategies and plans, and taking corrective action to ensure that objectives are achieved.

Question 18

All ​functional plans have at least two target markets.

Accepted Answer

A functional plan is a type of marketing plan that focuses on a specific product or service. It typically includes a target market, marketing objectives, and a marketing strategy. Since all functional plans have a target market, it is true that all functional plans have at least two target markets.

Question 19

More consumers are expressing an interest in sustainable behaviors. This represents an opportunity for Tesla's Model X.

Accepted Answer

The increasing consumer interest in sustainable behaviors aligns with Tesla's brand and product offerings, particularly the Model X, which is an electric vehicle promoting environmental sustainability. This trend can boost demand for Tesla's products.

Question 20

Which of the following is part of a company's internal market? ​

Accepted Answer

Employees are considered part of a company's internal market because they are directly involved in the operations and internal affairs of the company.

Quiz 2: Strategic Marketing Planning

Goals are more specific than objectives.

In developing a marketing plan, the section on goals and objectives defines the parameters by which the firm will measure actual performance. In this respect, the goals and objectives section is tied closely to the __________ section of the marketing plan.

In the marketing strategy section of the marketing plan, the firm details how it will gain a competitive advantage by doing something better than the competition.

In a truly market-oriented organization, what is the role of the CEO?

Sears at one time lost sight of its mission and jumped into markets such as real estate and financial services that did not fit its strengths or core operations. This most likely occurred because Sears lacked a mission statement with the appropriate:

When approving the marketing plan, which of the following questions will a top manager ask?

Marketing goals should be specific statements stated in quantitative terms.

The executive summary is the first part of the marketing plan.

Situation analysis summarizes pertinent information about the internal environment, external environment, and customer environment.

__________ firms are those that successfully generate, disseminate, and respond to market information.

All organizations need a __________, the central scheme for utilizing and integrating resources in the areas of production, finance, research and development, human resources, and marketing to carry out the organization's mission and achieve desired goals and objectives.

The marketing planning process typically requires the coordination of at the top of the corporate hierarchy with more at the bottom.

The key to coordination is to ensure that functional areas maintain:

The SWOT analysis is derived from the marketing goals and objectives section.

The most pressing concern for the success of a marketing plan is identifying needed resources.

Focusing on customers has not always been the hallmark of strategic planning. In fact, in the early 20^th century, firms tended to focus strictly on __________ rather than on developing relationships with customers.

A marketer for Whole Foods compares sales during a certain time period to performance standards in the marketing plan. This process is known as marketing implementation.

All functional plans have at least two target markets.

More consumers are expressing an interest in sustainable behaviors. This represents an opportunity for Tesla's Model X.

Which of the following is part of a company's internal market?

Quiz 2: Strategic Marketing Planning

Goals are more specific than objectives.

In developing a marketing plan, the section on goals and objectives defines the parameters by which the firm will measure actual performance. In this respect, the goals and objectives section is tied closely to the __________ section of the marketing plan.

In the marketing strategy section of the marketing plan, the firm details how it will gain a competitive advantage by doing something better than the competition.

In a truly market-oriented organization, what is the role of the CEO?

Sears at one time lost sight of its mission and jumped into markets such as real estate and financial services that did not fit its strengths or core operations. This most likely occurred because Sears lacked a mission statement with the appropriate:

When approving the marketing plan, which of the following questions will a top manager ask?

Marketing goals should be specific statements stated in quantitative terms.​

The executive summary is the first part of the marketing plan.

Situation analysis ​summarizes pertinent information about the internal environment, external environment, and customer environment.

__________ firms are those that successfully generate, disseminate, and respond to market information.

All organizations need a __________, the central scheme for utilizing and integrating resources in the areas of production, finance, research and development, human resources, and marketing to carry out the organization's mission and achieve desired goals and objectives.

The marketing planning process typically requires the coordination of __________ at the top of the corporate hierarchy with more __________ at the bottom.

The key to coordination is to ensure that functional areas maintain:

The SWOT analysis is derived from the marketing goals and objectives section.

The most pressing concern for the success of a marketing plan is identifying needed resources.

Focusing on customers has not always been the hallmark of strategic planning. In fact, in the early 20th century, firms tended to focus strictly on __________ rather than on developing relationships with customers.

A marketer for Whole Foods compares sales during a certain time period to performance standards in the marketing plan. This process is known as marketing implementation.

All ​functional plans have at least two target markets.

More consumers are expressing an interest in sustainable behaviors. This represents an opportunity for Tesla's Model X.

Which of the following is part of a company's internal market? ​

Marketing goals should be specific statements stated in quantitative terms.

Situation analysis summarizes pertinent information about the internal environment, external environment, and customer environment.

The marketing planning process typically requires the coordination of at the top of the corporate hierarchy with more at the bottom.

Focusing on customers has not always been the hallmark of strategic planning. In fact, in the early 20^th century, firms tended to focus strictly on __________ rather than on developing relationships with customers.

All functional plans have at least two target markets.

Which of the following is part of a company's internal market?