Question 1

The best place in a SWOT analysis to identify rising interest rates and availability of credit is ___________________.
A) External opportunities
B) External threats
C) Internal opportunities
D) Internal strengths
E) Internal weaknesses

Accepted Answer

Rising interest rates and availability of credit are external factors that businesses have no control over, but they can have a significant impact on the business. Therefore, they are considered external threats in a SWOT analysis.

Question 2

The best place in a SWOT analysis to the threat of substitute products is in ___________________.
A) External opportunities
B) External threats
C) Internal opportunities
D) Internal strengths
E) Internal weaknesses

Accepted Answer

The threat of substitute products is an external factor that poses a threat to the company's existing products. Therefore, it belongs in the external threats section of a SWOT analysis.

Question 3

Vinny, the marketing manager for Bass Line Audio Systems, wants the company to offer an MP3 player, a product the company doesn't have.He thinks that the firm has many brand loyal customers who would buy it.Most likely, this would be classified as __________ in Ansoff's Product-Market Matrix.
A) Market diversification
B) Marketing strategy development
C) Market penetration
D) Product development
E) Market development

Accepted Answer

Product development involves creating new products for existing markets. In this case, Bass Line Audio Systems would be creating a new product (MP3 player) for its existing loyal customer base. This aligns with Vinny's desire to offer a new product to the company's brand loyal customers.

Question 4

The best place in a SWOT analysis to identify the possibility of acquiring a competitor is in ___________________.
A) External opportunities
B) External threats
C) Internal opportunities
D) Internal strengths
E) Internal weaknesses

Accepted Answer

The answer of The best place in a SWOT analysis...

Question 5

Rush Express, a North American delivery service, wants to expand service into South America.This is classified as ___________ in Ansoff's Product-Market Matrix.
A) Market diversification
B) Marketing strategy development
C) Market penetration
D) Product development
E) Market development

Accepted Answer

Market development refers to expanding into new geographical markets with existing products or services, which is exactly what Rush Express is doing by expanding into South America.

Question 6

Roberta's company, New Home Builders Corp., is a specialist in designing one-story homes that have wide hallways and walk-in showers that could accommodate the need to use a wheelchair or walker, and other amenities that allow couples to remain in their homes as they age.The company's strong value proposition has allowed it to maintain steady market share in a weak housing market.A discussion of this relative advantage would be included in the _______ section of the SWOT.
A) Strengths
B) Threats
C) Opportunities
D) Strategy
E) Weaknesses

Accepted Answer

The discussion of the company's strong value proposition and ability to maintain market share in a weak housing market relates to its strengths, which would be included in the strengths section of a SWOT analysis.

Question 7

Roberta has many items to include in the SWOT analysis for New Home Builders Corp.An examination of competitors that have gone bankrupt would be included in the _______ section.
A) Strengths
B) Threats
C) Opportunities
D) Strategy
E) Weaknesses

Accepted Answer

Competitors going bankrupt can present opportunities for New Home Builders Corp to capture more market share or expand its business.

Question 8

The U.S.dollar has strengthened against the Euro and the Yen.A discussion of this would be included in the ____ section of the SWOT.
A) Strengths
B) Threats
C) Opportunities
D) Strategic
E) Weaknesses

Accepted Answer

The discussion of the US dollar strengthening against the Euro and Yen would be included in the Opportunities section of the SWOT analysis. This is because a strong US dollar could present opportunities for businesses that export goods or services to Europe or Japan, as their products would now be more affordable due to the favorable exchange rate. Additionally, businesses that import goods from these areas may see cost reductions due to the stronger purchasing power of the US dollar.

Question 9

The best place in a SWOT analysis to identify problems with hurricanes, earthquakes, major snowfalls and other natural phenomena is ___________________.
A) External opportunities
B) External threats
C) Internal opportunities
D) Internal strengths
E) Internal weaknesses

Accepted Answer

Hurricanes, earthquakes, major snowfalls, and other natural phenomena are external factors that can disrupt a company's operations and pose a threat to its success. Therefore, identifying these as external threats in a SWOT analysis is the most appropriate choice.

Question 10

Great Skate skateboarding parks' marketing team wants to stay open until 3:00 a.m.The parks currently close at midnight.Most likely, this would be classified as __________ in Ansoff's Product-Market Matrix.
A) Market diversification
B) Marketing strategy development
C) Market penetration
D) Product development
E) Market development

Accepted Answer

The answer of Great Skate skateboarding parks' marketing team wants...

Question 11

The marketing manager at MWJ Architects, a firm that specializes in the designing of baseball parks, discovers a glitch in the software that the firm uses and that some of its most recent projects will come in over budget.A discussion of this would be included in the ______ section of the SWOT.
A) Strengths
B) Threats
C) Opportunities
D) Strategic
E) Weaknesses

Accepted Answer

The discovery of the glitch in the software and the potential for over-budget projects is a weakness for the firm and would be included in the weaknesses section of the SWOT analysis.

Question 12

Call Company, has 12 call centers worldwide.The firm is considering the purchase of a software firm that serves the oil and gas industry.Most likely, this would be classified as __________ in Ansoff's Product-Market Matrix.
A) Market diversification
B) Marketing strategy development
C) Market penetration
D) Product development
E) Market development

Accepted Answer

Market diversification involves entering new markets with new products, which is exactly what Call Company would be doing if it were to purchase a software firm that serves the oil and gas industry. The software firm would be a new product for Call Company, and the oil and gas industry would be a new market for the company. Therefore, the best classification for this scenario in Ansoff's Product-Market Matrix is market diversification.

Question 13

Roberta, the marketing manager at New Home Builders Corp., is crafting a SWOT analysis.She should include the downturn in the U.S.economy and tightening of the credit markets in the ___________ section.
A) Strengths
B) Threats
C) Opportunities
D) Strategic
E) Weaknesses

Accepted Answer

The downturn in the U.S. economy and tightening of the credit markets are external factors that have a negative impact on the company's operations and performance. Therefore, they should be included in the "Threats" section of the SWOT analysis.

Question 14

Phat Suitz, a manufacturer of male clothing, finds that the informal atmosphere that was created by the three founders is no longer manageable now that the firm has more than 300 employees.Managers have determined a need for a human resources department.An examination of this issue would be found in the ___________ part of the situation analysis.
A) Firm structure
B) Firm culture
C) Firm leadership
D) Firm resources
E) Firm history

Accepted Answer

The answer of Phat Suitz, a manufacturer of male clothing,...

Question 15

The best place in a SWOT analysis to identify a reduced marketing budget is in ___________________.
A) External opportunities
B) External threats
C) Internal opportunities
D) Internal strengths
E) Internal weaknesses

Accepted Answer

The answer of The best place in a SWOT analysis...

Question 16

Open Sesame is a chain of Thai restaurants located in the western United States.The marketing manager has discovered that there is a growing demand for Spanish food and that Latino Americans spend more money on food away from home than other ethnic groups.This information would be included in the _____ part of the SWOT analysis.
A) Strengths
B) Threats
C) Opportunities
D) Strategic
E) Weaknesses

Accepted Answer

The answer of Open Sesame is a chain of Thai...

Question 17

Goals and objectives should be set _____________.
A) At the beginning of marketing planning
B) At the end of the situation analysis
C) After marketing strategies are fixed
D) After completion of all market research, situation analysis, and competitor analysis
E) None of the above

Accepted Answer

The answer of Goals and objectives should be set _____________.
A)...

Question 18

Bliss Massage Therapy Center maintains a database of over 700 clients and sends each one a special discount offer in the month of his or her birthday.Most likely, this would be classified as __________ in Ansoff's Product-Market Matrix.
A) Market diversification
B) Marketing strategy development
C) Market penetration
D) Product development
E) Market development

Accepted Answer

Market penetration is the strategy of increasing sales of existing products in existing markets, which is exactly what Bliss Massage Therapy Center is doing by offering birthday discounts to its current clients.

Question 19

A former professional football player invested in a seafood restaurant chain when he played ball.Now that he is retired from the NFL, he and his partners want to start a chain of organic fast-casual restaurants in their region of 6 million households.Most likely, this would be classified as __________ in Ansoff's Product-Market Matrix.
A) Market diversification
B) Marketing strategy development
C) Market penetration
D) Product development
E) Market development

Accepted Answer

The answer of A former professional football player invested in...

Question 20

Beach Bums, a maker of swim suits, has contract manufacturing overseas.The firm is concerned that tariffs may be increased.An examination of this issue would take place in the _________ of the situation analysis.
A) Economic situation
B) Natural factors
C) Competitive situation
D) Political, legal, and ethical factors
E) Logistic situation

Accepted Answer

Tariffs are a result of political decisions and fall under the political, legal, and ethical factors of the situation analysis.

Quiz 2: Elements of Marketing Strategy and Planning

The best place in a SWOT analysis to identify rising interest rates and availability of credit is ___________________.

The best place in a SWOT analysis to the threat of substitute products is in ___________________.

Vinny, the marketing manager for Bass Line Audio Systems, wants the company to offer an MP3 player, a product the company doesn't have.He thinks that the firm has many brand loyal customers who would buy it.Most likely, this would be classified as __________ in Ansoff's Product-Market Matrix.

The best place in a SWOT analysis to identify the possibility of acquiring a competitor is in ___________________.

Rush Express, a North American delivery service, wants to expand service into South America.This is classified as ___________ in Ansoff's Product-Market Matrix.

Roberta has many items to include in the SWOT analysis for New Home Builders Corp.An examination of competitors that have gone bankrupt would be included in the _______ section.

The U.S.dollar has strengthened against the Euro and the Yen.A discussion of this would be included in the ____ section of the SWOT.

The best place in a SWOT analysis to identify problems with hurricanes, earthquakes, major snowfalls and other natural phenomena is ___________________.

Great Skate skateboarding parks' marketing team wants to stay open until 3:00 a.m.The parks currently close at midnight.Most likely, this would be classified as __________ in Ansoff's Product-Market Matrix.

The marketing manager at MWJ Architects, a firm that specializes in the designing of baseball parks, discovers a glitch in the software that the firm uses and that some of its most recent projects will come in over budget.A discussion of this would be included in the ______ section of the SWOT.

Call Company, has 12 call centers worldwide.The firm is considering the purchase of a software firm that serves the oil and gas industry.Most likely, this would be classified as __________ in Ansoff's Product-Market Matrix.

Roberta, the marketing manager at New Home Builders Corp., is crafting a SWOT analysis.She should include the downturn in the U.S.economy and tightening of the credit markets in the ___________ section.

The best place in a SWOT analysis to identify a reduced marketing budget is in ___________________.

Goals and objectives should be set _____________.

Bliss Massage Therapy Center maintains a database of over 700 clients and sends each one a special discount offer in the month of his or her birthday.Most likely, this would be classified as __________ in Ansoff's Product-Market Matrix.

Beach Bums, a maker of swim suits, has contract manufacturing overseas.The firm is concerned that tariffs may be increased.An examination of this issue would take place in the _________ of the situation analysis.