Question 1

A _____ is defined as a statement of what is to be accomplished through marketing activities.

Accepted Answer

This is the definition of a marketing objective.

Question 2

A _____ is a study conducted by an organization to identify its internal strengths and weaknesses and also examine external opportunities and threats.

Accepted Answer

A situation analysis is sometimes referred to as a SWOT analysis and involves identifying internal strengths (S)and weaknesses (W)and also examine external opportunities (O)and threats (T).

Question 3

Subgroups of a single business or a collection of related businesses within a larger organization are referred to as:

Accepted Answer

A strategic business unit (SBU)is a subgroup of a single business or a collection of related businesses within the larger organization.

Question 4

Yildiz Holding of Turkey purchased Godiva Chocolates from Campbell's Soup Company.Campbell's sold one of its:

Accepted Answer

An SBU is a subgroup of a single business or a collection of related businesses within the larger organization.

Question 5

Of the following,what is the most useful objective for Purina cat food?

Accepted Answer

Marketing objectives should be realistic,measurable,time specific and compared to a benchmark.

Question 6

A popular technique for managing a large organization with different technologies and markets is to divide it into:

Accepted Answer

A strategic business unit (SBU)is a subgroup of a single business or a collection of related businesses within the larger organization.

Question 7

An SBU:

Accepted Answer

SBUs have separate business functions from one another and have their own mission statements,markets,and planning.

Question 8

Briggs and Stratton is a Southeastern company that makes small engines.The company is looking at customer trends,its competitors,and the economy to see if there are any threats or opportunities on the horizon.It has also examined its production policies and sales histories to determine its strengths and weaknesses.Briggs & Stratton is conducting a(n):

Accepted Answer

A situation analysis identifies internal strengths (S)and weaknesses (W)and also examines external opportunities (O)and threats (T).

Question 9

By defining its business as "printing books" instead of "empowering imaginations," a children's book publishing company would more than likely experience:

Accepted Answer

Publishing books focuses on one product rather than a broad range of opportunities as found in "empowering imaginations."

Question 10

Coca-Cola drink vending machines are found all over the world.The newest machines have an interactive screen that runs advertisements and allows users to obtain free photos of themselves and ringtones after they have bought a drink.Critics of these new vending machines are concerned that entertaining technology is being used to market sugary products.In terms of a SWOT analysis,this concern would be an example of a(n):

Accepted Answer

A threat is an external condition that may lessen the success of the strategy.

Question 11

Tub King is a small company that refinishes antique claw foot bathtubs,antique sinks,and provides training for bathtub refinishing.The company's management is currently conducting a formal study of its current strengths and weaknesses by looking at the company's profit and sales histories and searching for opportunities and threats by studying consumer trends.Tub King is conducting a(n):

Accepted Answer

A SWOT analysis attempts to ascertain the present situation.

Question 12

All of the following are functions served by objectives EXCEPT:

Accepted Answer

Objectives serve four functions: communicate,motivate,clarify,and aid in the control function.

Question 13

Chrysler has a financial unit that is responsible for vehicle leases to consumers.It has a distinct mission,control over its resources,and plans independent of the other divisions of Chrysler.This financial unit is an example of a(n):

Accepted Answer

An SBU is a subgroup of a single business or collection of related businesses within a larger organization.

Question 14

Smucker's purchased Folgers Coffee in 2008.The option to buy Folgers represented a(n)_____ to Smucker's.

Accepted Answer

An opportunity is a favorable option external to the organization.

Question 15

The acronym SBU refers to:

Accepted Answer

SBU refers to strategic business unit,which is a subgroup of a single business or a collection of related businesses within the larger organization.

Question 16

The SWOT acronym refers to a firm's analysis of its:

Accepted Answer

SWOT stands for strengths,weaknesses,opportunities,and threats.

Question 17

Coca-Cola drink vending machines are found all over the world.The newest machines have an interactive screen that runs advertisements and allows users to obtain free photos of themselves and ringtones after they have bought a drink.The reason for the introduction of this new style vending machine is to "allow the company to interact more directly with its customers." According to a SWOT analysis,the technology used by these machines is an example of a(n):

Accepted Answer

Technological advances represent an external opportunity.

Question 18

All of the following are characteristics of a good objective EXCEPT:

Accepted Answer

Good objectives are not necessarily stated in terms of profit.

Question 19

_____ is defined as the collection and interpretation of information about forces,events,and relationships in the external environment that may affect the organization or the implementation of the marketing plan.

Accepted Answer

Environmental scanning helps identify market opportunities and threats and provides guidelines for the design of marketing strategy.

Question 20

Until spun off in 2007,Kraft was part of Altria Group,Inc.Kraft had its own management team,mission statement,and target markets different from Altria Group,Inc.Kraft was a _____ of Altria Group,Inc.

Accepted Answer

An SBU usually has its own mission statement,target markets,and separate functional departments.

Quiz 2: Strategic Planning for Competitive Advantage