Question 1

"To increase sales of ABC Microcomputers from 50,000 units in 2015 to 60,000 units in 2017"is an example of a

Accepted Answer

This is a marketing objective as it specifies a target for sales growth within a certain timeframe, which is a typical characteristic of marketing objectives.

Question 2

IKEA has published the following: "To offer a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them."This is an example of a

Accepted Answer

This statement describes IKEA's purpose and core values, focusing on what they aim to achieve for their customers, which is characteristic of a mission statement.

Question 3

The corporate plan includes an acquisition strategy. As the marketing manager, you will be looking to ensure

Accepted Answer

The correct answer is D because the marketing manager is responsible for ensuring that the acquired brands align with the company's current positioning.

Question 4

The corporate plan for a chain of night clubs includes a new-products strategy as the company's priority. Which of the following would be the best example of a marketing objective that aligns with this corporate decision?

Accepted Answer

The correct answer is A because it aligns with the corporate plan's priority of a new-products strategy.

Question 5

Which of the following corporate strategies allows a company to enter a new market most quickly?

Accepted Answer

Acquisition allows a company to enter a new market quickly by purchasing an existing company that already operates in that market.

Question 6

Starbucks partnering with Chapters in Canada is an example of

Accepted Answer

Starbucks partnering with Chapters in Canada is an example of a strategic alliance because it involves two companies working together to achieve a common goal.

Question 7

PepsiCo engages in aggressive and progressive actions in order to build their existing company divisions and product lines. This is known as

Accepted Answer

Penetration strategy involves aggressive actions to increase market share within existing product lines or divisions, which aligns with PepsiCo's approach described.

Question 8

Which of the following is not a part of the marketing planning process?

Accepted Answer

Setting corporate objectives and strategies is a broader business activity, not specific to the marketing planning process, which focuses on aligning with these objectives rather than setting them.

Question 9

Marketing plans are ___________________ and __________________.

Accepted Answer

The answer of Marketing plans are ___________________ and __________________.
...

Question 10

After conducting market research, a company learns that its brand awareness is 85% among the target market, the highest in its industry. In a SWOT analysis, this information would be included as a

Accepted Answer

Brand awareness being the highest in the industry is a competitive advantage and is considered a strength in a SWOT analysis.

Question 11

You are conducting an analysis of sales volumes in the coffee market in terms of regular, instant, decaffeinated, and flavoured coffees. This is a

Accepted Answer

Market segment analysis is the process of dividing a market into distinct groups of consumers with similar needs and wants. In this case, the market is being segmented by type of coffee (regular, instant, decaffeinated, and flavoured).

Question 12

You have been asked to review the potential acquisition of a small Canadian company to complement your product line. You have been asked to look at the threats and opportunities it presents and the strengths and weaknesses you see. You need to conduct

Accepted Answer

A SWOT analysis is the appropriate tool to evaluate the strengths, weaknesses, opportunities, and threats related to the acquisition of a company.

Question 13

Which of the following would be an external influence of importance to marketing planning for a company specializing in educational toys and books for children aged 2-8?

Accepted Answer

An increase in home schooling for primary school-aged students is an external factor that could influence the demand for educational toys and books, as more parents may seek resources to support home education.

Question 14

A report outlining the historical sales trends of the company's various brands and their contribution to corporate profitability could be found within the ________ section of the marketing plan.

Accepted Answer

The product analysis section of a marketing plan typically includes historical sales trends and the contribution of various brands to corporate profitability.

Question 15

What part of the marketing plan would the following fall under? Hyundai's decision to launch its "Smart is in"campaign using a specific mix of television and outdoor advertising across Canada with specific budgets.

Accepted Answer

The decision to launch a campaign using specific media and budgets falls under marketing execution, as it involves implementing the marketing strategy through specific actions and tactics.

Question 16

The corporate plan includes an acquisition strategy. As the marketing manager, you will be looking to ensure

Accepted Answer

The correct answer is D because the marketing manager is responsible for ensuring that the acquired brands align with the company's current positioning.

Question 17

The corporate plan for a chain of night clubs includes a new-products strategy as the company's priority. Which of the following would be the best example of a marketing objective that aligns with this corporate decision?

Accepted Answer

The correct answer is A because it aligns with the corporate plan's priority of a new-products strategy.

Question 18

With the unexpected downturn in the economy, the marketing executives at Refined Family Restaurants Inc. will need to adapt quickly and make changes to the company's

Accepted Answer

The marketing plan outlines specific actions and tactics to reach marketing objectives, and it needs to be adjusted in response to economic changes to remain effective.

Question 19

What is the best term for the process of measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are attained?

Accepted Answer

Marketing control is the process of measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are attained.

Question 20

Key variables in a financial review are

Accepted Answer

A financial review focuses on understanding the current financial position, which involves up-to-date sales forecasts, costs, and marketing budgets to assess financial performance and planning.

Quiz 3: Strategic Marketing Planning

"To increase sales of ABC Microcomputers from 50,000 units in 2015 to 60,000 units in 2017"is an example of a

IKEA has published the following: "To offer a wide range of well-designed, functional home furnishing products at prices so low that as many people as possible will be able to afford them."This is an example of a

The corporate plan includes an acquisition strategy. As the marketing manager, you will be looking to ensure

The corporate plan for a chain of night clubs includes a new-products strategy as the company's priority. Which of the following would be the best example of a marketing objective that aligns with this corporate decision?

Which of the following corporate strategies allows a company to enter a new market most quickly?

Starbucks partnering with Chapters in Canada is an example of

PepsiCo engages in aggressive and progressive actions in order to build their existing company divisions and product lines. This is known as

Which of the following is not a part of the marketing planning process?

Marketing plans are _ and .

After conducting market research, a company learns that its brand awareness is 85% among the target market, the highest in its industry. In a SWOT analysis, this information would be included as a

You are conducting an analysis of sales volumes in the coffee market in terms of regular, instant, decaffeinated, and flavoured coffees. This is a

You have been asked to review the potential acquisition of a small Canadian company to complement your product line. You have been asked to look at the threats and opportunities it presents and the strengths and weaknesses you see. You need to conduct

Which of the following would be an external influence of importance to marketing planning for a company specializing in educational toys and books for children aged 2-8?

A report outlining the historical sales trends of the company's various brands and their contribution to corporate profitability could be found within the ________ section of the marketing plan.

What part of the marketing plan would the following fall under? Hyundai's decision to launch its "Smart is in"campaign using a specific mix of television and outdoor advertising across Canada with specific budgets.

The corporate plan includes an acquisition strategy. As the marketing manager, you will be looking to ensure

The corporate plan for a chain of night clubs includes a new-products strategy as the company's priority. Which of the following would be the best example of a marketing objective that aligns with this corporate decision?

With the unexpected downturn in the economy, the marketing executives at Refined Family Restaurants Inc. will need to adapt quickly and make changes to the company's

What is the best term for the process of measuring and evaluating the results of marketing strategies and plans and taking corrective action to ensure that objectives are attained?

Key variables in a financial review are