Question 1

A characteristic of a ________ is that it can be a single business or collection of related businesses that can be planned separately from the rest of the company."

Accepted Answer

A)   strategic business unit
B)   subsidiary unit
C)   merged unit
D)   niche market unit
E)   specialized business unitF) All of the above
G) B) and E)

Question 2

Gerber primarily serves the baby food market.In choosing to focus on this market,Gerber is defining its competitive sphere on the basis of ________.

Accepted Answer

A)   vertical segmentation
B)   backward integration
C)   market segmentation
D)   diversification
E)   differentiationF) A) and B)
G) D) and E)

Question 3

To keep their strategic alliances thriving,corporations have begun to develop organizational structures to support them and have come to view the ability to form and manage strategic alliances as core skills.This is called ________.

Accepted Answer

A)   value managed partnership
B)   decentralized partnership
C)   centralized partnership
D)   partner relationship management
E)   intensive growth managementF) A) and E)
G) A) and D)

Question 4

The task of any business is to ________.

Accepted Answer

A)   create customer needs
B)   differentiate in terms of cost of production
C)   deliver customer value at a profit
D)   reduce competition
E)   communicate similar value as provided by competitorsF) A) and B)
G) A) and E)

Question 5

A company seeking to expand the number of existing products sold to its current markets,would be using a "market-penetration strategy."

Accepted Answer

A) True 
 B)False

Question 6

When one company licenses another to produce its offerings,or two companies jointly market their complementary offerings,it is called a ________.

Accepted Answer

A)   pricing collaboration
B)   product or service alliance
C)   promotional alliance
D)   logistics collaboration
E)   total quality managementF) C) and D)
G) A) and D)

Question 7

Which of the following is NOT one of the four planning activities undertaken by all corporate headquarters?

Accepted Answer

A)   defining the corporate mission
B)   establishing strategic business units
C)   assigning resources to each SBU
D)   assessing growth opportunities
E)   deciding sales channelsF) B) and D)
G) A) and D)

Question 8

McDonald's has often teamed up with Disney to offer products related to current Disney films as part of its meals for children.The best description of this form of alliance would be a ________.

Accepted Answer

A)   product alliance
B)   logistics alliance
C)   pricing collaboration
D)   network alliance
E)   promotional allianceF) A) and B)
G) A) and C)

Question 9

Holistic marketing focuses on the integration of value exploration,value creation,and value delivery as a means to build long-term relationships with consumers.

Accepted Answer

A) True 
 B)False

Question 10

The fullfilment management process includes all the activities in ________.

Accepted Answer

A)   gathering and acting upon information about the market
B)   researching, developing, and launching new high-quality offerings quickly and within budget standards
C)   defining target markets and prospecting for new customers
D)   building deeper understanding, relationships, and offerings to individual customers
E)   receiving and approving orders, shipping the goods on time, and collecting paymentF) A) and C)
G) A) and D)

Question 11

If you were the CEO of a company that was looking to implement strategies to fill a perceived strategic-planning gap,you would most likely explore a(n) ________ strategy first because it is easier to improve an existing business than to build a new one.

Accepted Answer

A)   market-penetration
B)   market-development
C)   diversification
D)   product-development
E)   exclusiveF) All of the above
G) B) and E)

Question 12

In the cycle of complete strategic planning,taking corrective action is a part of ________.

Accepted Answer

A)   planning
B)   implementation
C)   controlling
D)   organizing
E)   analyzingF) B) and E)
G) C) and E)

Question 13

When a firm aims to underprice competitors and win market share,it is using a(n) ________ strategy that requires relatively less marketing skills as compared to other strategies.

Accepted Answer

A)   product differentiation
B)   overall cost leadership
C)   focus
D)   domestic customer relationship
E)   price skimmingF) A) and B)
G) A) and C)

Question 14

Once a SWOT analysis has been completed,the strategic planner is ready to proceed to the goal formulation stage of the strategic-planning process model.

Accepted Answer

A) True 
 B)False

Question 15

Holistic marketers achieve profitable growth by expanding customer share,________,and capturing customer lifetime value.

Accepted Answer

A)   undermining competitive competencies
B)   building customer loyalty
C)   creating customer needs
D)   renewing a customer base
E)   cannibalizing productsF) None of the above
G) A) and B)

Question 16

Of the four organizational levels,the corporate level is likely to make which of the following decisions?

Accepted Answer

A)   entering a new market
B)   resource allocation for each product
C)   strategic plan for individual business units
D)   choosing specific suppliers for each business unit
E)   marketing plan for each productF) C) and D)
G) D) and E)

Question 17

The ________ is the number of channel levels,from raw materials to final product and distribution,in which a company will participate.

Accepted Answer

A)   industry sphere
B)   vertical sphere
C)   product/application sphere
D)   competence sphere
E)   market segment sphereF) A) and C)
G) C) and E)

Question 18

The marketing strategy section of the marketing plan spells out goals and budgets for each month or quarter so the management can review each period's results and take corrective action as needed.

Accepted Answer

A) True 
 B)False

Question 19

What are hollow corporations?

Accepted Answer

A)   companies that market their products through franchisees
B)   companies that have liabilities exceeding their assets
C)   companies that outsource all production to suppliers
D)   companies that do not have any physical presence and only operate online
E)   companies that are horizontally integratedF) B) and C)
G) C) and D)

Question 20

Which of the following statements is true of marketing plans?

Accepted Answer

A)   They can be independently developed without worrying about other functional areas.
B)   They provide direction and focus for a brand, product, or company.
C)   They are usually profit-oriented.
D)   They are of limited use to non-profit organizations.
E)   They are typically five-year plans and they lay out the strategies required to achieve targets in those five years.F) A) and D)
G) A) and E)

Exam 2: Developing Marketing Strategies and Plans

Of the four organizational levels,the corporate level is likely to make which of the following decisions?

Correct AnswerverifiedShow Answer

A characteristic of a ________ is that it can be a single business or collection of related businesses that can be planned separately from the rest of the company."

Correct AnswerverifiedShow Answer

The ________ is the number of channel levels,from raw materials to final product and distribution,in which a company will participate.

Correct AnswerverifiedShow Answer

The task of any business is to ________.

Correct AnswerverifiedShow Answer

The marketing strategy section of the marketing plan spells out goals and budgets for each month or quarter so the management can review each period's results and take corrective action as needed.

Correct AnswerverifiedShow Answer

In the cycle of complete strategic planning,taking corrective action is a part of ________.

Correct AnswerverifiedShow Answer

McDonald's has often teamed up with Disney to offer products related to current Disney films as part of its meals for children.The best description of this form of alliance would be a ________.

Correct AnswerverifiedShow Answer

If you were the CEO of a company that was looking to implement strategies to fill a perceived strategic-planning gap,you would most likely explore a(n) ________ strategy first because it is easier to improve an existing business than to build a new one.

Correct AnswerverifiedShow Answer

Holistic marketers achieve profitable growth by expanding customer share,________,and capturing customer lifetime value.

Correct AnswerverifiedShow Answer

Gerber primarily serves the baby food market.In choosing to focus on this market,Gerber is defining its competitive sphere on the basis of ________.

Correct AnswerverifiedShow Answer

When a firm aims to underprice competitors and win market share,it is using a(n) ________ strategy that requires relatively less marketing skills as compared to other strategies.

Correct AnswerverifiedShow Answer

Holistic marketing focuses on the integration of value exploration,value creation,and value delivery as a means to build long-term relationships with consumers.

Correct AnswerverifiedShow Answer

To keep their strategic alliances thriving,corporations have begun to develop organizational structures to support them and have come to view the ability to form and manage strategic alliances as core skills.This is called ________.

Correct AnswerverifiedShow Answer

Which of the following statements is true of marketing plans?

Correct AnswerverifiedShow Answer

Once a SWOT analysis has been completed,the strategic planner is ready to proceed to the goal formulation stage of the strategic-planning process model.

Correct AnswerverifiedShow Answer

When one company licenses another to produce its offerings,or two companies jointly market their complementary offerings,it is called a ________.

Correct AnswerverifiedShow Answer

Which of the following is NOT one of the four planning activities undertaken by all corporate headquarters?

Correct AnswerverifiedShow Answer

A company seeking to expand the number of existing products sold to its current markets,would be using a "market-penetration strategy."

Correct AnswerverifiedShow Answer

The fullfilment management process includes all the activities in ________.

Correct AnswerverifiedShow Answer

What are hollow corporations?

Correct AnswerverifiedShow Answer

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